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Audax Renovables SA
(BME:ADX)
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Rating:45Neutral
Price Target:
€1.00
▼(-17.36% Downside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weakening 2025 fundamentals (shrinking revenue, sharp margin and net income decline, and minimal free cash flow) alongside still-high leverage, which raises risk if earnings remain volatile. Technical indicators also point to a bearish trend with weak momentum. A higher dividend yield provides some support, but it is offset by a relatively high P/E given the recent deterioration in performance.
Positive Factors
Renewable energy retail platform
Audax operates an established energy retail model with renewable-origin electricity at its core, serving business and some residential customers. This positioning aligns the company with ongoing demand for lower-carbon energy supply while retaining recurring revenue potential from customer contracts.
Negative Factors
Persistent revenue contraction
Three consecutive years of revenue decline indicate weakening scale and reduced commercial momentum rather than a single-period fluctuation. If the contraction continues, Audax may have less operating leverage, fewer resources to absorb costs, and a smaller base for rebuilding profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Renewable energy retail platform
Audax operates an established energy retail model with renewable-origin electricity at its core, serving business and some residential customers. This positioning aligns the company with ongoing demand for lower-carbon energy supply while retaining recurring revenue potential from customer contracts.
Read all positive factors
Audax Renovables SA (ADX) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€469.75M
Dividend Yield6.47%
Average Volume (3M)199.89K
Price to Earnings (P/E)38.7
Beta (1Y)0.47
Revenue Growth-8.45%
EPS Growth-73.52%
CountryES
Employees813
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.03
Shares Outstanding453,430,800
10 Day Avg. Volume184,298
30 Day Avg. Volume199,889
Financial Highlights & Ratios
PEG Ratio-0.48
Price to Book (P/B)2.95
Price to Sales (P/S)0.33
P/FCF Ratio353.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.1
Revenue Forecast (FY)€2.01B
Audax Renovables SA Business Overview & Revenue Model
Company Description
Audax Renovables, S.A. operates as a green energy company, focusing on the production and distribution of renewable electricity and gas. Its activities extend across various nations, including Spain, Portugal, Italy, Poland, Germany, the Netherlan...
How the Company Makes Money
Audax Renovables primarily makes money by selling electricity and natural gas to end customers under supply contracts, generating revenue from the invoiced energy volumes (kWh/MWh for electricity and gas volumes) at agreed pricing structures (e.g....
Audax Renovables SA Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
42
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.87B | 1.88B | 1.98B | 2.29B | 2.63B | 1.68B |
| Gross Profit | 173.19M | 100.52M | 229.66M | 229.56M | 136.73M | 114.47M |
| EBITDA | 94.96M | 100.03M | 144.81M | 99.83M | 67.15M | 49.22M |
| Net Income | 11.95M | 19.59M | 60.56M | 29.03M | 3.54M | -1.72M |
Balance Sheet | ||||||
| Total Assets | 1.32B | 1.36B | 1.37B | 1.30B | 1.32B | 1.35B |
| Cash, Cash Equivalents and Short-Term Investments | 244.36M | 294.88M | 324.99M | 310.84M | 250.59M | 327.28M |
| Total Debt | 617.87M | 611.12M | 600.11M | 605.62M | 664.07M | 789.53M |
| Total Liabilities | 1.08B | 1.13B | 1.15B | 1.12B | 1.18B | 1.20B |
| Stockholders Equity | 218.69M | 210.50M | 210.51M | 161.22M | 122.43M | 132.40M |
Cash Flow | ||||||
| Free Cash Flow | -4.22M | 1.76M | 17.69M | 109.39M | 104.57M | -113.19M |
| Operating Cash Flow | 20.90M | 51.23M | 74.19M | 140.51M | 151.25M | -74.05M |
| Investing Cash Flow | 8.80M | 23.50M | -58.92M | -34.94M | -44.01M | -115.08M |
| Financing Cash Flow | -37.91M | -30.34M | -16.69M | -81.31M | -145.46M | 65.04M |
Audax Renovables SA Technical Analysis
Negative
1.21
Price Trends
1.12
Negative
1.17
Negative
1.24
Negative
Market Momentum
-0.02
Negative
42.99
Neutral
61.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ADX, the sentiment is Negative. The current price of 1.21 is above the 20-day moving average (MA) of 1.06, above the 50-day MA of 1.12, and below the 200-day MA of 1.24, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 42.99 is Neutral, neither overbought nor oversold. The STOCH value of 61.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:ADX.
Audax Renovables SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | €2.48B | 12.83 | 19.61% | 10.92% | 6.96% | ― | |
60 Neutral | €6.92B | 39.11 | 3.02% | 0.14% | -13.82% | -75.64% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €2.04B | 10.42 | 22.01% | 2.46% | 25.92% | 40.06% | |
46 Neutral | €187.36M | 43.69 | 3.28% | 2.03% | 16.89% | -58.53% | |
45 Neutral | €469.75M | 38.66 | 5.53% | 6.47% | -8.45% | -73.52% |
* General Sector Average
ES:ADX
Audax Renovables SA
1.04
-0.32
-23.71%
ES:ENO
Elecnor
29.25
1.14
4.04%
ES:SLR
Solaria Energia y Medio Ambiente
15.38
0.38
2.53%
ES:ANE
Corporacion Acciona Energias Renovables SA
21.30
-2.83
-11.74%
ES:HLZ
Holaluz Clidom SA
0.61
-0.47
-43.33%
ES:ENER
Grupo Ecoener SAU
3.29
-1.55
-32.02%
Audax Renovables SA Corporate Events
Audax Renovables Shareholders Approve Spin-Off of Portuguese Energy Retail Business
Oct 8, 2026
Audax Renovables’ extraordinary general shareholders’ meeting has approved the segregation balance sheet as of 31 December 2025, supporting the spin-off of its Portuguese electricity and natural gas marketing business into a separate e...
Audax Renovables Board Endorses First-Half 2026 Financial Report
Sep 30, 2026
Audax Renovables SA has released its first semi-annual financial report for 2026, covering the period ended 30 June 2026, with the document signed by the full Board of Directors on 28 September 2026. The company states that its summarized consolid...
Audax Renovables Publishes 2026 Half-Year Results Report with Sustainability Focus
Sep 30, 2026
Audax Renovables SA has released its results report for January to June 2026, outlining financial and operational information for the period while noting that some figures may be unaudited and subject to rounding adjustments. The document clarifie...
Audax Renovables lifts volumes, refinances debt as it advances 2026‑2030 plan
Sep 30, 2026
Audax Renovables SA reported first-half 2026 revenue of €940.7 million, slightly below the prior year, and adjusted EBITDA of €60.4 million, alongside modest growth in supply points, energy volumes and installed capacity. Despite lower...
Audax Renovables Sets Date for First-Half 2026 Results and Investor Presentation
Sep 17, 2026
Audax Renovables S.A. has announced that it will publish its financial results for the first half of the 2026 fiscal year on 29 September 2026, before the market opens, via the CNMV. On the same day at 12:00 p.m., the company will host a results p...
Audax Renovables Drops EthiFinance Rating to Focus on Global Agencies
Aug 6, 2026
Audax Renovables SA, a European renewable energy group, operates in several international markets and relies on relationships with investors and financial institutions to support its growth. The company maintains corporate credit ratings with glob...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.