S.P.E.E.H. Hidroelectrica S.A.

BVB:H2O Stock Report

Market Cap: RON 83.2b

S.P.E.E.H. Hidroelectrica Valuation

Is H2O undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow 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 H2O when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: H2O (RON185) is trading above our estimate of future cash flow value (RON123.97)

Significantly Below Future Cash Flow Value: H2O is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for H2O?

Key metric: As H2O is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for H2O. This is calculated by dividing H2O's market cap by their current earnings.
What is H2O's PE Ratio?
PE Ratio19.1x
EarningsRON 4.35b
Market CapRON 83.21b

Price to Earnings Ratio vs Peers

How does H2O's PE Ratio compare to its peers?

The above table shows the PE ratio for H2O vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.8x
EL Societatea Energetica Electrica
16.6x4.42%RON 18.0b
SNN S.N. Nuclearelectrica
6.5x-60.12%RON 16.7b
916 China Longyuan Power Group
10.3x17.71%HK$106.2b
EDPR EDP Renewables
37.8x13.74%€13.5b
H2O S.P.E.E.H. Hidroelectrica
19.1x-0.51%RON 83.2b

Price-To-Earnings vs Peers: H2O is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the peer average (17.8x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does H2O's PE Ratio compare vs other companies in the European Renewable Energy Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
H2O 19.1xIndustry Avg. 20.8xNo. of Companies5PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: H2O is good value based on its Price-To-Earnings Ratio (19.1x) compared to the European Renewable Energy industry average (20.8x).

Price to Earnings Ratio vs Fair Ratio

What is H2O'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.

H2O PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.1x
Fair PE Ratio19.2x

Price-To-Earnings vs Fair Ratio: H2O is good value based on its Price-To-Earnings Ratio (19.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.2x).

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 H2O forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRON 185.00
RON 134.11
-27.51%
18.26%RON 184.00RON 100.00n/a10
Sep ’27RON 180.40
RON 131.11
-27.32%
17.98%RON 184.00RON 100.00n/a10
Aug ’27RON 200.00
RON 119.71
-40.14%
9.68%RON 137.00RON 100.00n/a9
Jul ’27RON 198.80
RON 117.82
-40.73%
11.17%RON 137.00RON 100.00n/a9
Jun ’27RON 177.00
RON 117.82
-33.43%
11.17%RON 137.00RON 100.00n/a9
May ’27RON 158.80
RON 113.38
-28.60%
11.33%RON 135.00RON 95.00n/a9
Apr ’27RON 150.00
RON 113.38
-24.41%
11.33%RON 135.00RON 95.00n/a9
Mar ’27RON 144.90
RON 113.38
-21.75%
11.33%RON 135.00RON 95.00n/a9
Feb ’27RON 138.00
RON 113.93
-17.44%
11.57%RON 135.00RON 95.00n/a10
Jan ’27RON 124.20
RON 117.46
-5.43%
10.51%RON 135.00RON 100.00n/a10
Dec ’26RON 122.50
RON 117.46
-4.11%
10.51%RON 135.00RON 100.00n/a10
Nov ’26RON 121.00
RON 119.82
-0.98%
9.92%RON 135.00RON 100.00n/a11
Oct ’26RON 121.70
RON 121.15
-0.46%
10.02%RON 135.00RON 100.00n/a11
Sep ’26RON 121.70
RON 121.60
-0.082%
9.38%RON 135.00RON 105.00RON 180.4011
Aug ’26RON 123.60
RON 121.21
-1.94%
8.18%RON 134.30RON 105.00RON 200.0012
Jul ’26RON 121.50
RON 121.21
-0.24%
8.18%RON 134.30RON 105.00RON 198.8012
Jun ’26RON 122.80
RON 121.02
-1.45%
8.44%RON 134.30RON 105.00RON 177.0010
May ’26RON 118.10
RON 121.02
+2.47%
8.44%RON 134.30RON 105.00RON 158.8010
Apr ’26RON 122.70
RON 120.90
-1.47%
7.99%RON 132.00RON 105.00RON 150.0010
Mar ’26RON 118.70
RON 120.90
+1.85%
7.99%RON 132.00RON 105.00RON 144.9010
Feb ’26RON 122.50
RON 120.90
-1.31%
10.24%RON 135.00RON 95.00RON 138.0010
Jan ’26RON 122.00
RON 120.90
-0.90%
10.24%RON 135.00RON 95.00RON 124.2010
Dec ’25RON 119.40
RON 120.64
+1.04%
10.16%RON 135.00RON 95.00RON 122.5010
Nov ’25RON 122.00
RON 120.64
-1.11%
10.16%RON 135.00RON 95.00RON 121.0010
Oct ’25RON 124.30
RON 120.64
-2.94%
10.16%RON 135.00RON 95.00RON 121.7010
Sep ’25RON 122.60
RON 120.44
-1.76%
10.03%RON 135.00RON 95.00RON 121.7010
RON 134.11
Fair Value
37.9% overvalued intrinsic discount
10
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/18 23:47
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

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

S.P.E.E.H. Hidroelectrica S.A. is covered by 17 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Peter CramptonBarclays
Peter BisztygaBofA Global Research
Piotr DzieciolowskiCitigroup Inc