Morningstar

EDP Renovaveis SA EDPR

Morningstar Rating
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Stock XLIS Rating as of
€14.55 −0.29 (1.95%)
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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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EDPR is trading at a 616% premium.
Price
€14.55
Fair Value
€15.00
Uncertainty
Medium
1-Star Price
€73.34
5-Star Price
€23.70
Economic Moat
Llhx
Capital Allocation
Btrgnnxd

Bulls Say, Bears Say

Bulls

As one of the leading renewable players in the US, EDP Renovaveis is well positioned to benefit from the Inflation Reduction Act.

Bears

Declining European wholesale power prices will weigh on earnings as of 2024.

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News

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Trading Information

Previous Close Price
€14.84
Day Range
€14.37–14.89
52-Week Range
€11.91–18.73
Bid/Ask
€14.41 / €14.78
Market Cap
€15.13 Bil
Volume/Avg
889,951 / 713,971

Key Statistics

Price/Earnings (Normalized)
95.04
Price/Sales
6.43
Dividend Yield (Trailing)
1.38%
Dividend Yield (Forward)
1.38%
Total Yield
1.38%

Company Profile

EDP Renovaveis, a 71%-owned subsidiary of integrated Portuguese utility EDP, was created in 2007. It builds, develops, and operates renewables plants, mostly wind and solar. With 16.6 GW of net installed capacity at the end of 2023, EDP Renovaveis is the fourth-largest renewables player in the world and the third-largest in the US and Europe. The group’s plants are mainly located in the US, Spain, Portugal, Poland, and Brazil.
Sector
Utilities
Industry
Utilities - Renewable
Stock Style Box
Large Growth
Total Number of Employees
3,024
Website
https://www.edpr.com

Competitors

Valuation

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Metric
EDPR
ENGI
ORSTED
Price/Earnings (Normalized)
 95.042.587.93
Price/Book Value
 1.331.153.11
Price/Sales
 6.430.533.45
Price/Cash Flow
 26.643.7511.39
Price/Earnings
EDPR
ENGI
ORSTED

Financial Strength

Metric
EDPR
ENGI
ORSTED
Quick Ratio
 0.530.481.08
Current Ratio
 0.620.991.48
Interest Coverage
 2.122.98−3.35
Quick Ratio
EDPR
ENGI
ORSTED

Profitability

Metric
EDPR
ENGI
ORSTED
Return on Assets (Normalized)
 1.02%2.67%−1.56%
Return on Equity (Normalized)
 2.74%17.02%−7.23%
Return on Invested Capital (Normalized)
 3.22%8.43%−1.32%
Return on Assets
EDPR
ENGI
ORSTED

Utilities - Renewable Industry Comparables

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Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Constellation Energy Corp
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WqwtycfZdsx$73.0 Bil
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—Sypfxv$26.0 Bil
 Orsted AS
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—Dyksyqj$26.0 Bil
 CEZ AS
CZAVF
—Tltglz$20.2 Bil
 EDP Renovaveis SA ADR
EDRVY
—Rkhxg$16.7 Bil
 EDP Renovaveis SA
EDRVF
—Jkxf$16.7 Bil
 Brookfield Renewable Partners LP
BEP
XfdmfvhqqYkky$7.8 Bil
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BEPC
FfkcgqdzjHjcn$5.7 Bil

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