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Red Eléctrica Corporación

OTCPK:RDEI.F
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RDEI.F
OTCPK
€11B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Red Eléctrica Corporación, S.A. transmits electricity; operates and manages transmission network for the electricity system; and manages electricity transmission grid in Spain and internationally. The last earnings update was 24 days ago. More info.


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RDEI.F Share Price and Events
7 Day Returns
0%
OTCPK:RDEI.F
2.3%
US Electric Utilities
-2.1%
US Market
1 Year Returns
4.8%
OTCPK:RDEI.F
17.1%
US Electric Utilities
1.3%
US Market
RDEI.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Red Eléctrica Corporación (RDEI.F) 0% 4.2% -1.9% 4.8% -75.6% -75%
US Electric Utilities 2.3% 3.2% 4.6% 17.1% 21.4% 40.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • RDEI.F underperformed the Electric Utilities industry which returned 17.1% over the past year.
  • RDEI.F outperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
RDEI.F
Industry
5yr Volatility vs Market

RDEI.F Value

 Is Red Eléctrica Corporación undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Red Eléctrica Corporación to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Red Eléctrica Corporación.

OTCPK:RDEI.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:RDEI.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 8.2%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.236 (1 + (1- 25%) (59.28%))
0.558
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 8.18%)
9.27%

Discounted Cash Flow Calculation for OTCPK:RDEI.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Red Eléctrica Corporación is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:RDEI.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.27%)
2019 672.48 Analyst x8 615.40
2020 597.13 Analyst x9 500.08
2021 492.46 Analyst x7 377.42
2022 498.33 Analyst x3 349.50
2023 554.50 Analyst x2 355.89
2024 550.19 Est @ -0.78% 323.16
2025 551.71 Est @ 0.28% 296.54
2026 557.29 Est @ 1.01% 274.12
2027 565.80 Est @ 1.53% 254.69
2028 576.48 Est @ 1.89% 237.47
Present value of next 10 years cash flows €3,584.28
OTCPK:RDEI.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €576.48 × (1 + 2.73%) ÷ (9.27% – 2.73%)
€9,049.79
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €9,049.79 ÷ (1 + 9.27%)10
€3,727.95
OTCPK:RDEI.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €3,584.28 + €3,727.95
€7,312.23
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €7,312.23 / 539.88
€13.54
OTCPK:RDEI.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.65
Current discount Discount to share price of $21.32
= -1 x ($21.32 - $14.65) / $14.65
-45.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Red Eléctrica Corporación is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Red Eléctrica Corporación's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Red Eléctrica Corporación's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:RDEI.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €1.31
BME:REE Share Price ** BME (2019-05-10) in EUR €19.71
United States of America Electric Utilities Industry PE Ratio Median Figure of 26 Publicly-Listed Electric Utilities Companies 22.08x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Red Eléctrica Corporación.

OTCPK:RDEI.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:REE Share Price ÷ EPS (both in EUR)

= 19.71 ÷ 1.31

15.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Red Eléctrica Corporación is good value based on earnings compared to the US Electric Utilities industry average.
  • Red Eléctrica Corporación is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Red Eléctrica Corporación's expected growth come at a high price?
Raw Data
OTCPK:RDEI.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
-0.7%per year
United States of America Electric Utilities Industry PEG Ratio Median Figure of 23 Publicly-Listed Electric Utilities Companies 3.11x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

OTCPK:RDEI.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.06x ÷ -0.7%

-22.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Red Eléctrica Corporación earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Red Eléctrica Corporación's assets?
Raw Data
OTCPK:RDEI.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €5.85
BME:REE Share Price * BME (2019-05-10) in EUR €19.71
United States of America Electric Utilities Industry PB Ratio Median Figure of 29 Publicly-Listed Electric Utilities Companies 2.1x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:RDEI.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:REE Share Price ÷ Book Value per Share (both in EUR)

= 19.71 ÷ 5.85

3.37x

* Primary Listing of Red Eléctrica Corporación.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Red Eléctrica Corporación is overvalued based on assets compared to the US Electric Utilities industry average.
X
Value checks
We assess Red Eléctrica Corporación's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Red Eléctrica Corporación has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RDEI.F Future Performance

 How is Red Eléctrica Corporación expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Red Eléctrica Corporación expected to grow at an attractive rate?
  • Red Eléctrica Corporación's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Red Eléctrica Corporación's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Red Eléctrica Corporación's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:RDEI.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:RDEI.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts -0.7%
OTCPK:RDEI.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 0.2%
United States of America Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 8.3%
United States of America Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:RDEI.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:RDEI.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,147 1,232 740 2
2022-12-31 2,073 1,189 678 4
2021-12-31 2,047 1,221 678 8
2020-12-31 2,074 1,231 697 11
2019-12-31 2,085 1,070 724 10
OTCPK:RDEI.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 2,013 1,179 706
2018-12-31 2,011 1,100 705
2018-09-30 2,015 1,033 695
2018-06-30 2,015 1,189 687
2018-03-31 2,010 1,068 677
2017-12-31 2,008 1,153 670
2017-09-30 2,014 1,180 661
2017-06-30 2,005 1,152 654
2017-03-31 1,988 1,136 645
2016-12-31 1,973 1,007 637
2016-09-30 1,958 1,085 629
2016-06-30 1,959 1,056 621

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Red Eléctrica Corporación's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Red Eléctrica Corporación's revenue is expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:RDEI.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Red Eléctrica Corporación Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RDEI.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.38 1.46 1.29 2.00
2022-12-31 1.25 1.30 1.15 5.00
2021-12-31 1.25 1.40 1.15 9.00
2020-12-31 1.29 1.41 1.21 15.00
2019-12-31 1.34 1.36 1.33 10.00
OTCPK:RDEI.F Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 1.31
2018-12-31 1.30
2018-09-30
2018-06-30 1.27
2018-03-31
2017-12-31 1.24
2017-09-30
2017-06-30 1.21
2017-03-31
2016-12-31 1.18
2016-09-30
2016-06-30 1.15

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Red Eléctrica Corporación is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Red Eléctrica Corporación's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Red Eléctrica Corporación has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RDEI.F Past Performance

  How has Red Eléctrica Corporación performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Red Eléctrica Corporación's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Red Eléctrica Corporación's year on year earnings growth rate has been positive over the past 5 years.
  • Red Eléctrica Corporación's 1-year earnings growth exceeds its 5-year average (4.3% vs 2.6%)
  • Red Eléctrica Corporación's earnings growth has not exceeded the US Electric Utilities industry average in the past year (4.3% vs 9.7%).
Earnings and Revenue History
Red Eléctrica Corporación's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Red Eléctrica Corporación Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RDEI.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,012.81 706.50 154.78
2018-12-31 2,010.57 704.56 153.31
2018-09-30 2,015.01 695.00 152.28
2018-06-30 2,015.32 686.73 151.45
2018-03-31 2,010.48 677.13 150.41
2017-12-31 2,007.92 669.84 149.80
2017-09-30 2,013.78 661.17 149.14
2017-06-30 2,004.79 653.50 147.63
2017-03-31 1,987.91 645.07 146.43
2016-12-31 1,972.74 636.92 146.17
2016-09-30 1,958.00 628.53 144.74
2016-06-30 1,958.96 620.69 143.73
2016-03-31 1,961.87 613.60 142.54
2015-12-31 1,959.66 606.01 141.10
2015-09-30 1,948.23 751.83 138.36
2015-06-30 1,912.49 736.67 137.42
2015-03-31 1,888.33 725.21 135.79
2014-12-31 1,864.42 717.82 133.87
2014-09-30 1,850.62 554.46 132.81
2014-06-30 1,848.83 547.14 131.46
2014-03-31 1,791.66 538.16 129.83
2013-12-31 1,777.91 529.14 128.69
2013-09-30 1,797.95 543.79 129.35
2013-06-30 1,781.90 539.19 127.99
2013-03-31 1,797.64 501.82 127.85
2012-12-31 1,774.25 492.29 130.27
2012-09-30 1,718.11 465.34 118.18
2012-06-30 1,698.38 457.06 126.81

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Red Eléctrica Corporación has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Red Eléctrica Corporación used its assets more efficiently than the US Electric Utilities industry average last year based on Return on Assets.
  • Red Eléctrica Corporación has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Red Eléctrica Corporación's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Red Eléctrica Corporación has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RDEI.F Health

 How is Red Eléctrica Corporación's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Red Eléctrica Corporación's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Red Eléctrica Corporación is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Red Eléctrica Corporación's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Red Eléctrica Corporación's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Red Eléctrica Corporación Company Filings, last reported 1 month ago.

OTCPK:RDEI.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,157.97 6,306.00 1,216.16
2018-12-31 3,361.37 5,595.44 821.37
2018-09-30 3,295.83 5,476.46 611.10
2018-06-30 3,120.36 5,443.83 985.04
2018-03-31 2,941.00 5,381.58 650.40
2017-12-31 3,093.45 5,520.97 650.54
2017-09-30 3,061.98 5,383.73 523.89
2017-06-30 2,914.70 5,472.77 710.13
2017-03-31 2,748.90 5,208.50 355.78
2016-12-31 2,920.55 5,413.71 292.00
2016-09-30 2,870.17 5,469.61 293.35
2016-06-30 2,736.22 5,702.27 589.87
2016-03-31 2,919.97 5,271.74 108.17
2015-12-31 2,760.61 5,475.05 389.38
2015-09-30 2,715.45 5,382.50 206.26
2015-06-30 2,583.03 5,516.34 386.97
2015-03-31 2,725.68 5,345.03 134.09
2014-12-31 2,552.45 5,880.93 300.68
2014-09-30 2,375.78 5,153.92 203.25
2014-06-30 2,262.44 4,982.02 139.99
2014-03-31 2,390.31 4,881.62 111.47
2013-12-31 2,224.65 4,858.75 215.88
2013-09-30 2,170.30 5,943.29 213.93
2013-06-30 2,054.92 5,491.16 809.64
2013-03-31 2,140.67 3,435.90 311.09
2012-12-31 1,991.55 5,022.32 41.44
2012-09-30 1,939.03 5,321.10 11.06
2012-06-30 1,833.79 4,871.51 151.09
  • Red Eléctrica Corporación's level of debt (199.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (204.4% vs 199.7% today).
  • Debt is not well covered by operating cash flow (18.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8x coverage).
X
Financial health checks
We assess Red Eléctrica Corporación's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Red Eléctrica Corporación has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RDEI.F Dividends

 What is Red Eléctrica Corporación's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.99%
Current annual income from Red Eléctrica Corporación dividends. Estimated to be 5.41% next year.
If you bought $2,000 of Red Eléctrica Corporación shares you are expected to receive $100 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Red Eléctrica Corporación's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Red Eléctrica Corporación's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:RDEI.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
United States of America Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:RDEI.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.15 4.00
2022-12-31 1.09 7.00
2021-12-31 1.06 11.00
2020-12-31 1.06 16.00
2019-12-31 1.05 14.00
OTCPK:RDEI.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.983 5.192
2018-02-19 0.919 5.107
2017-02-23 0.859 4.687
2016-02-25 0.803 4.304
2015-02-26 0.750 4.002
2015-02-25 0.750 3.944
2014-03-19 0.636 3.860
2014-02-26 0.636 4.430
2013-03-18 0.591 5.417
2013-02-27 0.591 5.611
2012-02-28 0.553 6.273
2011-05-12 0.469 5.299
2011-02-25 0.469 4.652
2010-12-17 0.389 4.249
2010-02-25 0.370 4.258
2010-02-24 0.370 4.128

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Red Eléctrica Corporación has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Red Eléctrica Corporación only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Red Eléctrica Corporación's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Red Eléctrica Corporación's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Red Eléctrica Corporación afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Red Eléctrica Corporación has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RDEI.F Management

 What is the CEO of Red Eléctrica Corporación's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Juan Lasala Bernad
COMPENSATION €986,000
AGE 51
CEO Bio

Mr. Juan Francisco Lasala Bernad serves as the Chief Executive Officer and Chief Financial Officer of Red Electrica de Espana S.A.U. and has been its Chief Executive Director since April 2016. Mr. Lasala Bernad serves as the Chief Executive Officer of Red Eléctrica Corporación, S.A. and served as its Chief Financial Officer. He began his professional career in KPMG's audit division and continued his professional development as Deputy Manager in the Finance Department of Burger King and served as Director of Finance and also of Planning and Control of Midas España and Grupo Avanzit. He has been an Executive Director of Red Eléctrica Corporación, S.A. since July 17, 2015. He holds degree in Business Science from the Universidad Complutense de Madrid.

CEO Compensation
  • Juan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Juan's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Red Eléctrica Corporación management team in years:

0.5
Average Tenure
53
Average Age
  • The average tenure for the Red Eléctrica Corporación management team is less than 2 years, this suggests a new team.
Management Team

Juan Lasala Bernad

TITLE
CEO & Executive Director
COMPENSATION
€986K
AGE
51

María Teresa Quirós Álvarez

TITLE
Chief Financial Officer

Pablo Muñoz

TITLE
Manager of the Technology Department
TENURE
0.3 yrs

Irene Barrio

TITLE
Head of Investor Relations

Ralph de Diego Barber

TITLE
General Counsel & Secretary of the Board of Directors
AGE
67

José Antonio Peris

TITLE
Manager of Human Resources Area
TENURE
0.8 yrs

Antonio Calvo Roy

TITLE
Manager of Institutional Relations & Sustainability Area

Fernando Frías Montejo

TITLE
Deputy Secretary of the Board of Directors
AGE
53
TENURE
14.1 yrs

Concepción Fuentes

TITLE
Deputy Secretary
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the Red Eléctrica Corporación board of directors in years:

3.1
Average Tenure
57
Average Age
  • The tenure for the Red Eléctrica Corporación board of directors is about average.
Board of Directors

Jordi Segura

TITLE
Chairman
COMPENSATION
€228K
TENURE
0.8 yrs

Juan Lasala Bernad

TITLE
CEO & Executive Director
COMPENSATION
€986K
AGE
51
TENURE
3.8 yrs

Antonio Ciria

TITLE
External Independent Director
COMPENSATION
€190K
AGE
61
TENURE
5 yrs

Carmen Gómez de Barreda de Monsalve

TITLE
Lead Independent Director
COMPENSATION
€192K
AGE
50
TENURE
6 yrs

Alberto Carbajo Josa

TITLE
External Independent Director
COMPENSATION
€175K
AGE
69
TENURE
2.2 yrs

María García Beato

TITLE
External Independent Director
COMPENSATION
€175K
AGE
53
TENURE
6.5 yrs

Socorro Fernández Larrea

TITLE
External Independent Director
COMPENSATION
€175K
TENURE
5 yrs

Arsenio Fernández de Mesa Y del Río

TITLE
External Independent Director
COMPENSATION
€175K
AGE
63
TENURE
2.3 yrs

Mercedes Rodrigálvarez

TITLE
External Nominee Director
COMPENSATION
€175K
TENURE
1.6 yrs

Antonio Expósito

TITLE
External Nominee Director
COMPENSATION
€43K
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
21. Nov 18 Buy Juan Lasala Bernad Individual 15. Nov 18 15. Nov 18 3,714 $21.91 $81,390
X
Management checks
We assess Red Eléctrica Corporación's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Red Eléctrica Corporación has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RDEI.F News

Simply Wall St News

RDEI.F Company Info

Description

Red Eléctrica Corporación, S.A. transmits electricity; operates and manages transmission network for the electricity system; and manages electricity transmission grid in Spain and internationally. Its transmission network comprises approximately 43,800 kilometers; and has 86,654 MVA of transformer capacity. The company also provides consultancy, engineering, and construction services; telecommunications infrastructure services to telecommunications operators comprising leasing of dark fiber; and line and sub-station maintenance services. Red Eléctrica Corporación, S.A. was founded in 1985 and is based in Alcobendas, Spain.

Details
Name: Red Eléctrica Corporación, S.A.
RDEI.F
Exchange: OTCPK
Founded: 1985
€11,923,754,589
539,881,951
Website: http://www.ree.es
Address: Red Eléctrica Corporación, S.A.
Paseo del Conde de los Gaitanes, 177,
Alcobendas,
Madrid, 28109,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME REE Bearer Shares Bolsas y Mercados Espanoles ES EUR 08. Jul 1999
OTCPK RDEI.F Bearer Shares Pink Sheets LLC US USD 08. Jul 1999
DB RE21 Bearer Shares Deutsche Boerse AG DE EUR 08. Jul 1999
LSE 0RI5 Bearer Shares London Stock Exchange GB EUR 08. Jul 1999
WBAG REE Bearer Shares Wiener Boerse AG AT EUR 08. Jul 1999
BATS-CHIXE REEE Bearer Shares BATS 'Chi-X Europe' GB EUR 08. Jul 1999
OTCPK RDEI.Y UNSPONSORED ADR Pink Sheets LLC US USD 29. Oct 2008
Number of employees
Current staff
Staff numbers
1,796
Red Eléctrica Corporación employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 23:54
End of day share price update: 2019/05/10 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.