Iberdrola SA

IBE: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€87.60	Qcp	Qbtqtwsn

Iberdrola Has a Better Earnings Outlook Than Most Peers

Tancrede Fulop

Oct 27, 2023

Business Strategy and Outlook

Iberdrola is the second biggest integrated utilities in Europe after Enel. It is the European utility with the largest exposure to the United States due to its wind development and the acquisition of UIL in 2015. Its U.S. assets are now grouped in 81.5%-owned Avangrid. In Europe, besides the domestic Spanish market, Iberdrola has a strong exposure to the United Kingdom since the acquisition of Scottish Power in 2007.

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