Endesa, S.A.
Endesa, S.A. engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally. It generates electricity from various energy sources, such as hydroelectri…
Endesa, S.A. engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally. It generates electricity from various energy sources, such as hydroelectric, nuclear, thermal, wind, and solar. The company also offers advisory services and technology relating to energy, distributed generation, and energy demand management; deploys infrastructures for charging electric vehicles, vehicle-to-grid, and second-life services for batteries; develops integrated services for local administrations, such as public lighting, smart city development, energy services, and solutions for connectivity; and provides financial solutions for energy producers, as well as offers engineering and construction services for facilities related to the electricity business. As of December 31, 2025, it had an installed capacity of 22, 616 MW; operated 321,843 km of distribution networks and transmission grids; and distributed electricity to 9,590 thousand customers and gas to 1,699 thousand customers. The company was formerly known as Empresa Nacional de Electricidad, S.A. and changed its name to Endesa, S.A. in June 1997. The company was incorporated in 1944 and is headquartered in Madrid, Spain. Endesa, S.A. is a subsidiary of Enel Iberia Srl.Looks undervalued
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price below modeled range
Showing the EV/Sales (Rule of 40) you selected on the company card, using 2% growth, 2.2% terminal growth and 8.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice. Low confidence: the modelled value is far from the market price, which usually means the model does not capture this company well (for example expected growth well above its history).
Assumptions: growth 2%, discount rate 8.60%, terminal growth 2.20% (sector defaults). See a worked example.
Blended growth assumption: 2.0% (sector default 4.0%, own revenue history -10.0%, analyst revenue consensus 1.4%).
5-year outlook: relative outlook of about 4.8% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 1.4% a year; the growth assumption used is 2.0%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 20.47 (-53.5%)
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EPS-based Gordon proxy
— EUR 36.54 (-16.9%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 20.47 (-53.5%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 20.73 (-52.8%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 66.60 (+51.5%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 20.48 (-53.4%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 126.24 (+187.1%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 92.22 | 52.3% |
| Base EUR 126.24 | 65.2% |
| Bull EUR 160.27 | 72.6% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 80 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue -8.9% a year | 4 / 20 |
| Balance sheet | net debt 1.5x EBITDA | 20 / 20 |
| Margins | EBITDA margin 29% | 20 / 20 |
Peers in Utilities
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| ELE.MC (this company) | EUR 43.97 | -114.8% | 18.6 | 5.8 | 3.6% | 80 |
| ED Consolidated Edison | USD 119.93 | 30.7% | 20.0 | 1.7 | 2.7% | 78 |
| ENGI.PA Engie SA | EUR 23.81 | 16.6% | 15.8 | 1.8 | 7.5% | 76 |
| D Dominion Energy | USD 68.26 | -3.4% | 22.2 | 2.0 | 3.9% | 76 |
| FORTUM.HE Fortum Oyj | EUR 23.13 | -3.5% | 25.7 | 2.6 | 6.1% | 72 |
| CMS CMS Energy | USD 68.66 | -3.5% | 24.7 | 2.2 | 3.3% | 64 |
| CNA.L Centrica plc | GBP 1.50 | -5.9% | – | 2.3 | 3.3% | 92 |
| EIX Edison International | USD 59.61 | -8.9% | 6.3 | 1.3 | 5.7% | 52 |
| NTGY.MC Naturgy Energy Group, S.A. | EUR 29.30 | -9.7% | 14.0 | 3.0 | 5.9% | 70 |
| Peer median | 20.0 | 2.1 | ||||
Dividends
Paid in the last 12 months: EUR 1.58 per share · yield 3.60% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.584 |
| 2025 | 1.318 |
| 2024 | 0.500 |
| 2023 | 2.085 |
| 2022 | 0.937 |
| 2021 | 1.814 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 14:12
| Revenue | EUR 22,456,000,000 |
|---|---|
| EBITDA | EUR 6,599,000,000 |
| EBIT | EUR 4,283,000,000 |
| Net income | EUR 2,449,000,000 |
| Free cash flow | EUR 1,984,000,000 |
| Capital expenditures | EUR 2,097,000,000 |
| Debt | EUR 11,905,000,000 |
| Cash | EUR 1,696,000,000 |
| Working capital | EUR -2,930,000,000 |
| Shares outstanding | 1,035,714,286 |
| Reported dividends per share | EUR 1.5728 |