Company Valuation: Endesa, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 21,385 18,668 19,540 21,986 31,903 43,174 - -
Change - -12.7% 4.67% 12.52% 45.11% 35.33% - -
Enterprise Value (EV) 1 31,060 29,537 29,945 31,284 42,013 54,092 55,643 56,673
Change - -4.9% 1.38% 4.47% 34.3% 28.75% 2.87% 1.85%
P/E 14.9x 7.35x 26.4x 11.7x 14.6x 17.8x 17.8x 17.5x
PBR 3.97x 3.36x 2.78x 2.43x 4.43x 4.89x 4.66x 4.39x
PEG - 0.1x -0.4x 0x 0.8x 1.4x 292.26x 10.15x
Capitalization / Revenue 1.02x 0.57x 0.77x 1.03x 1.49x 1.94x 2x 1.99x
EV / Revenue 1.49x 0.9x 1.18x 1.47x 1.96x 2.43x 2.58x 2.62x
EV / EBITDA 7.26x 5.31x 7.93x 5.91x 7.3x 8.94x 9.12x 9.08x
EV / EBIT 12.1x 8.01x 18.2x 10.2x 12.6x 14.7x 15.1x 15x
EV / FCF 57.6x -64.2x 12.4x 18.2x 19x 32.2x 34x 43.6x
FCF Yield 1.74% -1.56% 8.06% 5.5% 5.25% 3.11% 2.94% 2.29%
Dividend per Share 2 1.437 1.585 1 1.318 1.32 1.681 1.751 1.8
Rate of return 7.11% 8.99% 5.42% 6.34% 4.31% 3.98% 4.15% 4.27%
EPS 2 1.36 2.4 0.7 1.78 2.1 2.364 2.366 2.407
Distribution rate 106% 66.1% 143% 74% 62.9% 71.1% 74% 74.8%
Net sales 1 20,899 32,896 25,459 21,307 21,424 22,215 21,566 21,646
EBITDA 1 4,278 5,565 3,777 5,293 5,756 6,048 6,101 6,244
EBIT 1 2,573 3,687 1,645 3,071 3,331 3,684 3,692 3,770
Net income 1 1,435 2,541 742 1,888 2,198 2,439 2,395 2,416
Net Debt 1 9,675 10,869 10,405 9,298 10,110 10,918 12,469 13,499
Reference price 2 20.20 17.64 18.46 20.77 30.63 42.18 42.18 42.18
Nbr of stocks (in thousands) 1,058,669 1,058,590 1,058,517 1,058,550 1,041,573 1,023,564 - -
Announcement Date 2/22/22 2/24/23 2/28/24 2/22/25 2/23/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
31.11x5.25x38.18x0.21% 255B
18.9x8.6x14.83x3.25% 159B
20.03x4.13x11.33x3.57% 150B
12.25x1.82x6.45x5.79% 101B
18.54x5.61x12.3x3.67% 95.34B
20.83x3.19x12.98x0.65% 93.28B
16.8x5.38x10.8x3.84% 88.38B
18.39x4.99x12.07x3.25% 64.43B
16.93x5.96x12.54x4.4% 53.37B
Average 19.31x 4.99x 14.61x 3.18% 117.74B
Weighted average by Cap. 21.20x 5.15x 18.15x 2.72%

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