Morningstar

Neoen SA NEOEN

Morningstar Rating
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Stock XPAR Rating as of
€39.21 −0.02 (0.05%)
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As of Delayed Price Closed

Company Report

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European Utilities Rallied in Q3 on Falling Interest Rates; We See Further Upside Potential

Tancrede Fulop

While wholesale power prices stabilized, government bonds’ yields fell on weak economic indicators and lower inflation in the US and Europe. Second-quarter results were boosted by very favorable hydro conditions that led to some guidance upgrades. This goldilocks scenario bolstered a rally in European utilities, enabling them to massively outperform the market and recover much of their earlier underperformance.

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Price vs Fair Value

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NEOEN is trading at a 848% premium.
Price
€39.21
Fair Value
€76.88
Uncertainty
Medium
1-Star Price
€54.90
5-Star Price
€21.40
Economic Moat
Hfpsv
Capital Allocation
Mntqprkcd

Bulls Say, Bears Say

Bulls

Neoen stands out from peers due to its large footprint in solar and batteries. The young age of its assets warrants a higher valuation than peers.

Bears

Neoen has tapped the stock markets in 2021 and 2023. It could do it again to reach its 2030 target of 20 GW of capacity in operation and under construction.

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News

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Trading Information

Previous Close Price
€39.23
Day Range
€39.19–39.31
52-Week Range
€21.80–39.60
Bid/Ask
€39.02 / €39.25
Market Cap
€5.99 Bil
Volume/Avg
105,731 / 194,528

Key Statistics

Price/Earnings (Normalized)
86.83
Price/Sales
11.99
Dividend Yield (Trailing)
0.38%
Dividend Yield (Forward)
0.38%
Total Yield
0.50%

Company Profile

Listed since 2018, Neoen is a French renewables developer. The historic shareholder is Impala S.A.S., which still holds 42% of the capital. At the end of 2022, Neoen operated 5 GW of capacity, of which 54% was solar, 35% onshore wind, and 11% utility-scale batteries—41% of this capacity is in Europe, 41% in Australia, and 18% in the Americas, but with no presence in the US
Sector
Utilities
Industry
Utilities - Renewable
Stock Style Box
Mid Growth
Total Number of Employees
439
Website
https://www.neoen.com

Competitors

Valuation

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Metric
NEOEN
ANE
EDPR
Price/Earnings (Normalized)
 86.8333.8495.04
Price/Book Value
 2.191.171.33
Price/Sales
 11.992.116.43
Price/Cash Flow
 21.0913.4126.64
Price/Earnings
NEOEN
ANE
EDPR

Financial Strength

Metric
NEOEN
ANE
EDPR
Quick Ratio
 0.850.670.53
Current Ratio
 1.171.070.62
Interest Coverage
 1.512.842.12
Quick Ratio
NEOEN
ANE
EDPR

Profitability

Metric
NEOEN
ANE
EDPR
Return on Assets (Normalized)
 0.87%1.48%1.02%
Return on Equity (Normalized)
 2.40%3.67%2.74%
Return on Invested Capital (Normalized)
 2.75%2.77%3.22%
Return on Assets
NEOEN
ANE
EDPR

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