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 43,092 - -
Change - -12.7% 4.67% 12.52% 45.11% 35.07% - -
Enterprise Value (EV) 1 31,060 29,537 29,945 31,284 42,013 53,960 55,562 56,591
Change - -4.9% 1.38% 4.47% 34.3% 28.43% 2.97% 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 5.01x 4.65x 4.39x
PEG - 0.1x -0.4x 0x 0.8x 1.4x 1,137.48x 9.91x
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 2.61x
EV / EBITDA 7.26x 5.31x 7.93x 5.91x 7.3x 8.9x 9.11x 9.06x
EV / EBIT 12.1x 8.01x 18.2x 10.2x 12.6x 14.6x 15.1x 15x
EV / FCF 57.6x -64.2x 12.4x 18.2x 19x 32.1x 33.9x 43.6x
FCF Yield 1.74% -1.56% 8.06% 5.5% 5.25% 3.11% 2.95% 2.3%
Dividend per Share 2 1.437 1.585 1 1.318 1.32 1.714 1.751 1.8
Rate of return 7.11% 8.99% 5.42% 6.34% 4.31% 4.07% 4.16% 4.27%
EPS 2 1.36 2.4 0.7 1.78 2.1 2.364 2.365 2.407
Distribution rate 106% 66.1% 143% 74% 62.9% 72.5% 74% 74.8%
Net sales 1 20,899 32,896 25,459 21,307 21,424 22,215 21,562 21,646
EBITDA 1 4,278 5,565 3,777 5,293 5,756 6,064 6,100 6,244
EBIT 1 2,573 3,687 1,645 3,071 3,331 3,684 3,691 3,770
Net income 1 1,435 2,541 742 1,888 2,198 2,474 2,393 2,416
Net Debt 1 9,675 10,869 10,405 9,298 10,110 10,868 12,469 13,499
Reference price 2 20.20 17.64 18.46 20.77 30.63 42.10 42.10 42.10
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 A 2/24/23 A 2/28/24 A 2/22/25 A 2/23/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.81x2.43x8.9x4.07% 50.05B
29.23x4.92x35.98x0.22% 239B
20.45x8.96x15.32x2.99% 172B
19.84x4.07x11.22x3.61% 151B
12.99x1.88x6.68x5.46% 109B
19.69x5.79x12.65x3.44% 101B
21.62x3.34x13.56x0.62% 97.35B
17.77x5.53x11.14x3.63% 93.49B
19.03x5.09x12.29x3.14% 66.65B
18.41x6.22x13.05x4.04% 58.06B
Average 19.68x 4.82x 14.08x 3.12% 113.78B
Weighted average by Cap. 21.01x 5.09x 16.99x 2.73%

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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