E.ON Valuation

Q: What is the Fair Price of EON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

EON (HUF4770) is trading above our estimate of [[fair value]] (HUF4582.9)

Is EON undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EON (HUF4770) is trading above our estimate of fair value (HUF4582.9)

Significantly Below Fair Value: EON is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EON?

Key metric: As EON is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EON. This is calculated by dividing EON's market cap by their current earnings.
What is EON's PE Ratio?
PE Ratio	16.8x
Earnings	€1.80b
Market Cap	€30.22b

EON key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.8x
Enterprise Value/EBITDA	8.9x
PEG Ratio	1.9x

Price to Earnings Ratio vs Peers

How does EON's PE Ratio compare to its peers?

The above table shows the PE ratio for EON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	20.5x
DEWA Dubai Electricity and Water Authority (PJSC)	17.5x	6.8%	د.إ124.0b
ED Consolidated Edison	18.1x	7.9%	US$33.4b
WEC WEC Energy Group	24.3x	10.8%	US$31.0b
PEG Public Service Enterprise Group	21.9x	4.2%	US$44.3b
EON E.ON	16.8x	8.9%	Ft30.2b

Price-To-Earnings vs Peers: EON is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (20.5x).

Price to Earnings Ratio vs Industry

How does EON's PE Ratio compare vs other companies in the Global Integrated Utilities Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: EON is good value based on its Price-To-Earnings Ratio (16.8x) compared to the Global Integrated Utilities industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is EON's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EON PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.8x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EON's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EON forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	Ft4,770.00	Ft6,263.61 +31.3%	8.2%	Ft7,311.33	Ft5,280.41	n/a	17
Nov ’25	Ft5,024.00	Ft6,188.36 +23.2%	8.0%	Ft7,126.92	Ft5,205.05	n/a	17
Oct ’25	Ft5,298.00	Ft6,100.48 +15.1%	7.7%	Ft7,052.56	Ft5,150.74	n/a	17
Sep ’25	n/a	Ft6,013.60 0%	7.0%	Ft6,821.98	Ft5,126.34	n/a	17
Aug ’25	Ft5,026.00	Ft5,958.18 +18.5%	10.1%	Ft6,962.27	Ft4,153.63	n/a	17
Jul ’25	n/a	Ft5,958.18 0%	10.1%	Ft6,962.27	Ft4,153.63	n/a	17
Jun ’25	Ft4,764.00	Ft5,710.81 +19.9%	11.2%	Ft6,765.69	Ft4,036.35	n/a	17
May ’25	Ft4,924.00	Ft5,600.65 +13.7%	13.2%	Ft6,807.77	Ft4,108.14	n/a	17
Apr ’25	Ft4,994.00	Ft5,579.22 +11.7%	13.1%	Ft6,866.38	Ft4,143.50	n/a	17
Mar ’25	Ft4,582.00	Ft5,290.39 +15.5%	10.6%	Ft6,303.08	Ft4,085.33	n/a	18
Feb ’25	Ft5,000.00	Ft5,208.17 +4.2%	10.3%	Ft6,253.67	Ft4,053.30	n/a	18
Jan ’25	Ft4,652.00	Ft4,983.33 +7.1%	7.3%	Ft5,365.51	Ft4,024.13	n/a	18
Dec ’24	Ft4,586.50	Ft4,811.07 +4.9%	7.6%	Ft5,276.99	Ft3,957.74	n/a	18
Nov ’24	n/a	Ft4,838.22 0%	8.3%	Ft5,348.68	Ft4,011.51	Ft5,024.00	18
Oct ’24	n/a	Ft4,862.90 0%	9.1%	Ft5,563.08	Ft4,028.44	Ft5,298.00	18
Sep ’24	Ft4,355.00	Ft4,871.53 +11.9%	8.8%	Ft5,581.64	Ft4,041.88	n/a	19
Aug ’24	Ft4,412.00	Ft4,773.58 +8.2%	8.8%	Ft5,291.81	Ft3,968.86	Ft5,026.00	19
Jul ’24	Ft4,280.00	Ft4,569.73 +6.8%	13.8%	Ft5,198.15	Ft2,450.56	n/a	20
Jun ’24	Ft4,168.00	Ft4,460.34 +7.0%	15.5%	Ft5,215.68	Ft2,458.82	Ft4,764.00	20
May ’24	Ft4,476.50	Ft4,390.22 -1.9%	14.7%	Ft5,223.12	Ft2,462.33	Ft4,924.00	20
Apr ’24	Ft4,380.00	Ft4,317.50 -1.4%	14.5%	Ft5,211.89	Ft2,548.03	Ft4,994.00	21
Mar ’24	Ft3,800.00	Ft3,975.63 +4.6%	14.1%	Ft5,147.89	Ft2,462.03	Ft4,582.00	20
Feb ’24	n/a	Ft4,085.97 0%	14.6%	Ft5,372.69	Ft2,569.55	Ft5,000.00	20
Jan ’24	Ft3,766.00	Ft4,256.62 +13.0%	13.8%	Ft5,119.82	Ft2,703.26	Ft4,652.00	20
Dec ’23	Ft3,750.00	Ft4,256.62 +13.5%	13.8%	Ft5,119.82	Ft2,703.26	Ft4,586.50	20
Nov ’23	Ft3,410.00	Ft4,432.78 +30.0%	15.2%	Ft5,173.39	Ft2,731.55	n/a	19

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.