Company Valuation: EDP, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 19,070 18,378 18,976 12,871 16,184 19,636 - -
Change - -3.63% 3.26% -32.17% 25.75% 21.33% - -
Enterprise Value (EV) 1 30,635 18,378 34,295 28,436 31,541 36,505 36,374 36,318
Change - -40.01% 86.61% -17.09% 10.92% 15.74% -0.36% -0.15%
P/E 29.2x 27.2x 20x 16.3x 14x 14.8x 15.4x 14.7x
PBR 2.05x - 1.64x 1.1x 1.44x 1.54x 1.47x 1.38x
PEG - 8.04x 0.6x -1x 0.3x 1x -3.71x 2.86x
Capitalization / Revenue 1.27x 0.89x 1.17x 0.86x 1.04x 1.23x 1.23x 1.21x
EV / Revenue 2.04x 0.89x 2.12x 1.9x 2.02x 2.28x 2.27x 2.25x
EV / EBITDA 8.23x 4.06x 6.83x 5.92x 6.27x 7.01x 7.02x 6.85x
EV / EBIT 15.9x 7.26x 12.3x 12.6x 10.5x 11.5x 11.6x 11.2x
EV / FCF -23x 66.2x -10.7x -21.7x -80.4x 28.2x 65.3x 69.5x
FCF Yield -4.35% 1.51% -9.39% -4.61% -1.24% 3.55% 1.53% 1.44%
Dividend per Share 2 0.19 0.19 0.195 0.2 0.205 0.1993 0.2105 0.2163
Rate of return 3.93% 4.08% 4.28% 6.47% 5.24% 4.2% 4.43% 4.55%
EPS 2 0.1656 0.1712 0.2275 0.19 0.28 0.3212 0.3079 0.3237
Distribution rate 115% 111% 85.7% 105% 73.2% 62.1% 68.4% 66.8%
Net sales 1 14,983 20,651 16,202 14,966 15,607 15,988 16,017 16,176
EBITDA 1 3,723 4,524 5,020 4,801 5,028 5,209 5,179 5,304
EBIT 1 1,931 2,530 2,798 2,262 2,999 3,183 3,143 3,233
Net income 1 657 679 952 801 1,150 1,356 1,296 1,365
Net Debt 1 11,565 - 15,319 15,565 15,357 16,869 16,738 16,682
Reference price 2 4.832 4.656 4.555 3.091 3.915 4.750 4.750 4.750
Nbr of stocks (in thousands) 3,946,678 3,947,065 4,165,997 4,163,910 4,133,900 4,133,898 - -
Announcement Date 2/17/22 3/1/23 3/1/24 3/13/25 2/25/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.48x2.26x6.93x4.29% 22.19B
28.67x4.82x35.05x0.23% 235B
20.13x8.89x15.15x3.04% 169B
19.62x4.07x11.19x3.62% 150B
12.03x1.79x6.39x5.89% 100B
19.23x5.72x12.54x3.53% 98.87B
20.45x3.19x12.95x0.66% 92.08B
17.46x5.48x11.04x3.7% 91.83B
18.74x5.05x12.2x3.19% 65.66B
17.82x6.11x12.84x4.18% 56.18B
Average 18.86x 4.74x 13.63x 3.23% 108.13B
Weighted average by Cap. 20.56x 5.10x 16.87x 2.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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