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Endesa SA
(BME:ELE)
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Rating:71Outperform
Price Target:
€46.00
▲(9.42% Upside)
Action:Upgraded
Date:07/30/26
The score is driven primarily by improved financial performance (recovered margins and solid recent free cash flow) and a strong technical uptrend (price above all key moving averages). These positives are tempered by leverage and only moderate free-cash-flow conversion, while valuation looks fair with a moderate dividend yield.
Positive Factors
Cash generation
Sustained multi‑billion euro operating cash flow and positive free cash flow provide durable internal funding for capex, grid upgrades, dividends and debt servicing. This strengthens strategic flexibility over the next 2–6 months and supports reinvestment in renewables and distribution modernization.
Negative Factors
Elevated leverage
Meaningful debt load for a regulated utility constrains financial flexibility and raises exposure to rising interest costs or refinancing risks. Even with improvement from prior years, elevated leverage limits room for large discretionary investments or accelerated shareholder returns without further deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained multi‑billion euro operating cash flow and positive free cash flow provide durable internal funding for capex, grid upgrades, dividends and debt servicing. This strengthens strategic flexibility over the next 2–6 months and supports reinvestment in renewables and distribution modernization.
Read all positive factors
Endesa SA (ELE) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€42.57B
Dividend Yield3.79%
Average Volume (3M)659.01K
Price to Earnings (P/E)16.6
Beta (1Y)0.49
Revenue Growth-1.29%
EPS Growth26.14%
CountryES
Employees8,924
SectorGeneral
Sector StrengthN/A
IndustryRegulated Electric
Share Statistics
EPS (TTM)2.52
Shares Outstanding1,041,744,500
10 Day Avg. Volume603,218
30 Day Avg. Volume659,006
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)3.81
Price to Sales (P/S)1.54
P/FCF Ratio14.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€35.00Price Target Upside-16.75% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering4
EPS Forecast (FY)2.38
Revenue Forecast (FY)€21.89B
Endesa SA Business Overview & Revenue Model
Company Description
Endesa, S.A. primarily conducts its business in Spain and Portugal, focusing on the production, distribution, and retail sale of electricity. The company generates its power from a diverse range of energy sources, including hydroelectric, nuclear,...
How the Company Makes Money
Endesa makes money mainly by selling electricity to end customers and by earning regulated returns for operating electricity distribution networks.
1) Electricity retail supply (customer sales): Endesa purchases electricity in wholesale markets a...
Endesa SA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.11B | 21.02B | 20.93B | 25.06B | 32.54B | 20.52B |
| Gross Profit | 7.70B | 7.01B | 7.49B | 8.42B | 8.84B | 4.88B |
| EBITDA | 5.91B | 5.31B | 4.95B | 3.32B | 5.38B | 4.38B |
| Net Income | 2.63B | 2.20B | 1.89B | 742.00M | 2.54B | 1.44B |
Balance Sheet | ||||||
| Total Assets | 38.63B | 37.48B | 37.34B | 41.28B | 50.07B | 39.97B |
| Cash, Cash Equivalents and Short-Term Investments | 1.13B | 263.00M | 1.34B | 3.32B | 7.14B | 1.58B |
| Total Debt | 11.47B | 10.89B | 10.96B | 13.73B | 18.49B | 10.38B |
| Total Liabilities | 29.41B | 27.87B | 28.29B | 34.08B | 44.31B | 34.42B |
| Stockholders Equity | 8.14B | 8.52B | 8.11B | 7.02B | 5.56B | 5.38B |
Cash Flow | ||||||
| Free Cash Flow | 2.16B | 2.21B | 1.72B | 2.41B | -460.00M | 539.00M |
| Operating Cash Flow | 4.12B | 4.05B | 3.57B | 4.70B | 1.67B | 2.62B |
| Investing Cash Flow | -2.28B | -2.71B | -1.33B | 3.19B | -8.16B | -3.07B |
| Financing Cash Flow | -1.64B | -1.99B | -3.50B | -6.65B | 6.65B | 752.00M |
Endesa SA Technical Analysis
Positive
42.04
Price Trends
40.92
Positive
38.73
Positive
35.35
Positive
Market Momentum
0.16
Positive
55.69
Neutral
39.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ELE, the sentiment is Positive. The current price of 42.04 is above the 20-day moving average (MA) of 41.59, above the 50-day MA of 40.92, and above the 200-day MA of 35.35, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 55.69 is Neutral, neither overbought nor oversold. The STOCH value of 39.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:ELE.
Endesa SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €42.57B | 16.59 | 31.00% | 3.79% | -1.29% | 26.14% | |
69 Neutral | €28.24B | 13.31 | 23.71% | 6.05% | ― | ― | |
69 Neutral | €30.56B | 9.29 | 14.10% | 3.65% | 10.40% | 396.76% | |
66 Neutral | €8.03B | 12.64 | 11.66% | 5.37% | 14.82% | 35.60% | |
60 Neutral | €131.10B | 18.28 | 14.10% | 3.44% | 0.95% | 33.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €11.75B | 31.69 | 7.63% | 2.69% | 7.62% | -56.65% |
* General Sector Average
ES:ELE
Endesa SA
41.80
16.75
66.84%
ES:ANA
Acciona
209.80
43.46
26.13%
ES:NTGY
Naturgy Energy Group, S.A.
29.28
4.46
17.95%
ES:IBE
Iberdrola
19.93
4.62
30.16%
ES:RED
Redeia Corporación
14.91
-0.75
-4.77%
ES:REP
Repsol
28.81
14.91
107.21%
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.