Terna Balance Sheet Health
Financial Health criteria checks 2/6
Terna has a total shareholder equity of €8.9B and total debt of €15.5B, which brings its debt-to-equity ratio to 173.4%. Its total assets and total liabilities are €28.1B and €19.2B respectively. Terna's EBIT is €1.8B making its interest coverage ratio 9.7. It has cash and short-term investments of €3.3B.
Key information
173.45%
Debt to equity ratio
€15.48b
Debt
| Interest coverage ratio | 9.7x |
| Cash | €3.30b |
| Equity | €8.92b |
| Total liabilities | €19.20b |
| Total assets | €28.12b |
Recent financial health updates
These 4 Measures Indicate That Terna (BIT:TRN) Is Using Debt Extensively
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...We Think Terna (BIT:TRN) Is Taking Some Risk With Its Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Recent updates
TRN: Board Remuneration Review And Modest Rating Uplift Will Shape Risk Profile
Analysts have nudged their fair value estimate for Terna slightly higher to about €9.77 per share, reflecting a modest upward revision in price targets, such as the recent €0.50 increase cited in Street research. What's in the News Terna has scheduled a Board meeting for Mar 26, 2026, to approve the Report on the Remuneration Policy and Remuneration Paid.TRN: Recent Rating Split And Policy Review Will Shape Risk Profile
Analysts have adjusted their view on Terna with a small price target increase of €0.50, reflecting updated assumptions on revenue growth, profit margins and future P/E, while recent research includes both a target raise and a downgrade. Analyst Commentary Recent research on Terna reflects mixed sentiment, with one price target increase and one downgrade sitting side by side.TRN: Recent Rating Shift And Policy Review Will Shape Risk Reward Balance
Analysts have nudged Terna's implied fair value higher, with the price target moving from about €8.87 to around €9.73, supported by recent target increases from several firms and offset in part by a fresh downgrade. Analyst Commentary Recent research on Terna reflects a mix of optimism around valuation support and some caution on the risk and reward skew at current levels.Terna S.p.A. (BIT:TRN) First-Quarter Results: Here's What Analysts Are Forecasting For This Year
Terna S.p.A. ( BIT:TRN ) came out with its quarterly results last week, and we wanted to see how the business is...Analysts Are Updating Their Terna S.p.A. (BIT:TRN) Estimates After Its Yearly Results
Terna S.p.A. ( BIT:TRN ) came out with its yearly results last week, and we wanted to see how the business is...The Returns At Terna (BIT:TRN) Aren't Growing
What are the early trends we should look for to identify a stock that could multiply in value over the long term...These 4 Measures Indicate That Terna (BIT:TRN) Is Using Debt Extensively
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Terna (BIT:TRN) Has Affirmed Its Dividend Of €0.1192
Terna S.p.A. ( BIT:TRN ) will pay a dividend of €0.1192 on the 26th of November. This payment means that the dividend...Terna S.p.A. (BIT:TRN) Shares Could Be 34% Above Their Intrinsic Value Estimate
Key Insights The projected fair value for Terna is €6.69 based on Dividend Discount Model Terna is estimated to be 34...Slowing Rates Of Return At Terna (BIT:TRN) Leave Little Room For Excitement
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...We Think Terna (BIT:TRN) Is Taking Some Risk With Its Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Terna S.p.A. (BIT:TRN) Just Released Its Interim Results And Analysts Are Updating Their Estimates
As you might know, Terna S.p.A. ( BIT:TRN ) recently reported its half-year numbers. It was an okay report, and...Is Terna S.p.A. (BIT:TRN) Worth €8.5 Based On Its Intrinsic Value?
Key Insights Using the Dividend Discount Model, Terna fair value estimate is €6.88 Current share price of €8.51...
New Incentive Schemes And Renewables Expansion Power Up Future Profitability
Transitioning to an output-based incentive framework and expanding renewable integration are expected to drive significant long-term revenue and EBITDA growth.Financial Position Analysis
Short Term Liabilities: TRN's short term assets (€4.4B) do not cover its short term liabilities (€5.3B).
Long Term Liabilities: TRN's short term assets (€4.4B) do not cover its long term liabilities (€13.9B).
Debt to Equity History and Analysis
Debt Level: TRN's net debt to equity ratio (136.4%) is considered high.
Reducing Debt: TRN's debt to equity ratio has reduced from 249.8% to 173.4% over the past 5 years.
Debt Coverage: TRN's debt is not well covered by operating cash flow (16.3%).
Interest Coverage: TRN's interest payments on its debt are well covered by EBIT (9.7x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/12 00:54 |
| End of Day Share Price | 2026/07/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Terna S.p.A. is covered by 35 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Francesco Sala | Banca Akros S.p.A. (ESN) |
| Tommaso Marabini | Banca Akros S.p.A. (ESN) |
| Virginia Sanz de Madrid Gross | Banco Santander |