Morningstar

Corporacion Acciona Energias Renovables SA ANE

Morningstar Rating
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Stock XMAD Rating as of
€20.26 −0.26 (1.27%)
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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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ANE is trading at a 850% premium.
Price
€20.26
Fair Value
€67.00
Uncertainty
Medium
1-Star Price
€34.89
5-Star Price
€29.80
Economic Moat
Rkwd
Capital Allocation
Fwgzqgth

Bulls Say, Bears Say

Bulls

Owning long-duration assets, Acciona Energia is favorably exposed to a decline in interest rates.

Bears

With about 40% of its capacity located in Spain, Acciona Energia has high exposure to historically negative regulation for utilities and renewables developers.

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Trading Information

Previous Close Price
€20.52
Day Range
€20.16–20.72
52-Week Range
€18.11–28.92
Bid/Ask
— / —
Market Cap
€6.57 Bil
Volume/Avg
289,623 / 372,680

Key Statistics

Price/Earnings (Normalized)
33.84
Price/Sales
2.11
Dividend Yield (Trailing)
2.40%
Dividend Yield (Forward)
2.40%
Total Yield
2.40%

Company Profile

A renewables developer, Acciona Energia was spun off from Spanish industrial conglomerate Acciona in July 2021. The floating share is 17.3%. At the end of 2023, the group had 12.1 gigawatts of consolidated capacity. 70% of Acciona Energia's capacity is onshore wind, nearly 7% is hydro dams in Spain and 18% is solar photovoltaic. Geographically, 44% of the capacity are located in Spain. The three biggest markets outside Spain are Mexico, the US, and Australia.
Sector
Utilities
Industry
Utilities - Renewable
Stock Style Box
Mid Value
Total Number of Employees
3,099
Website
https://www.acciona-energia.com

Competitors

Valuation

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Metric
ANE
ORSTED
IBE
Price/Earnings (Normalized)
 33.847.9314.59
Price/Book Value
 1.173.111.60
Price/Sales
 2.113.451.88
Price/Cash Flow
 13.4111.398.55
Price/Earnings
ANE
ORSTED
IBE

Financial Strength

Metric
ANE
ORSTED
IBE
Quick Ratio
 0.671.080.60
Current Ratio
 1.071.480.77
Interest Coverage
 2.84−3.354.98
Quick Ratio
ANE
ORSTED
IBE

Profitability

Metric
ANE
ORSTED
IBE
Return on Assets (Normalized)
 1.48%−1.56%4.79%
Return on Equity (Normalized)
 3.67%−7.23%14.40%
Return on Invested Capital (Normalized)
 2.77%−1.32%7.51%
Return on Assets
ANE
ORSTED
IBE

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