Audax Renovables S.A. (ADX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Audax Renovables S.A. stock €0.75, price €1.11, that is 32.3% below the price, quality 42 out of 100. Rating: overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range €0.6579 – €1.86 · fair‑value band €0.4700 – €0.9800 · the €1.11 price screens above the €0.7500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Audax Renovables, S.A. engages in the generation and supply of renewable electricity and gas in Spain, Portugal, the Netherlands, Hungary, Italy, Poland, Germany, and France. It has a portfolio of wind and photovoltaic farms with a capacity of 1,037 megawatts.
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The company also sells electricity and gas. Audax Renovables, S.A. was incorporated in 2000 and is based in Badalona, Spain. Audax Renovables, S.A. operates as a subsidiary of Electrica Nuriel, S.L.
Stock analysis
Audax Renovables S.A. (ADX) currently trades at €1.11, while our model-based Fair Value estimate is €0.7500, 32% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €1.50 per share, and 8 of the 23 models we run sit above the €1.11 price.
Bear case: the Dividend Discount group reads lowest at €0.4200, and 15 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: €0.4700 (bear) to €0.9800 (bull), the price of €1.11 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Utilities sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Audax Renovables S.A. reported revenue of €1.9B in FY2025 versus €1.7B in FY2021, a compound +2.7%/yr. Reported net income was €19.6M in FY2025.
Key figures
Market cap €494M Small · P/E ratio 36.9 · P/S ratio 0.26 · EPS (TTM) €0.0300 · Dividend yield 3.6% · Net margin 0.6% · Return on equity 6.4% · Return on assets (EBIT) 4.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −32%, ADX screens cheaper than that median.
Fair Value models
Bear€0.4700Fair Value €0.7500Bull€0.9800
Price €1.11 · Downside -32.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.0256 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−2.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)3.6%
Per share before 2007divided by the spin-off factor 1.4366
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−5.9% vs 11.7%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +1.1% a year for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Renewable · 197 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−32.3% · Below median
Profitability
Return on equity (12 months)6.4% · Above median
Return on assets1.4% · Below median
Net margin (12 months)0.6% · Below median
Operating margin (12 months)5.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)8.3% · Above median
Dividend yield (12 months)3.6% · Above median
Balance sheet
Debt / equity2.07× · Highest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (12 months)36.9× · Pricier than median
P/B2.35× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Audax Renovables S.A. (ADX) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of €0.7500 versus a price of €1.11, about 32% lower (overvalued).
What is the fair value of ADX?
Our model-based fair value for Audax Renovables S.A. is €0.7500 (as of Nov 6, 2026), built from audited fundamentals. The current price: €1.11.
What is the quality score of ADX?
Audax Renovables S.A. has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Audax Renovables S.A. (ADX)?
Our model-based price target is the fair value of €0.7500 (as of Nov 6, 2026) from 23 valuation models. Cautious scenario €0.4700, optimistic scenario €0.9800. It is a calculation from audited fundamentals, not an analyst target.
What is the Audax Renovables S.A. stock forecast for 2026?
Our models put fair value at €0.7500, about 32% lower versus a price of €1.11 (overvalued). Cautious scenario €0.4700, optimistic scenario €0.9800. The calculation is refreshed regularly with new filings.
What is the revenue of Audax Renovables S.A. (ADX)?
Audax Renovables S.A. reported trailing-twelve-month revenue of about €1.9B (latest available figure, as of Nov 6, 2026).
Does Audax Renovables S.A. pay a dividend?
Audax Renovables S.A. currently shows a dividend yield of 3.64% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Audax Renovables S.A. (ADX)?
Audax Renovables S.A. has a dividend yield of 3.6%.
What growth is priced into Audax Renovables S.A. (ADX)?
For today's price to be fair in a discounted-cash-flow model, Audax Renovables S.A. would have to grow free cash flow by more than 80 % per year for five years (discount rate 12.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of ADX use?
Our models discount Audax Renovables S.A. at 12.9 %: a base by market capitalisation (small), damped by beta 1.10, country premium for Spain. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Audax Renovables S.A. that is more than 80 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.9 %) and the same formula as our fair value.
How much growth has Audax Renovables S.A. (ADX) delivered so far?
Over the past 5 years revenue at Audax Renovables S.A. grew +14.2 % a year. The price currently implies free-cash-flow growth of more than 80 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Audax Renovables S.A. (ADX) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into Audax Renovables S.A. (more than 80 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Audax Renovables S.A. (ADX)?
The free-cash-flow yield on the price is 0.36 %: that much free cash flow Audax Renovables S.A. produces per unit of market value. When it exceeds the discount rate of our models (12.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Audax Renovables S.A. (ADX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Audax Renovables S.A. it is €0.7500 per share (as of Nov 6, 2026), against a price of €1.11. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Audax Renovables S.A. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, ADX trades above its calculated fair value: price €1.11, fair value €0.7500, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADX?
No. The price is what the market pays today (€1.11); the fair value is what the company's own numbers justify (€0.7500). For Audax Renovables S.A. the two are €0.3580 per share apart. That gap is exactly why we show both numbers side by side.
How much is Audax Renovables S.A. worth?
The market values Audax Renovables S.A. at about €494M (market capitalisation, as of Nov 6, 2026). Per share that is €1.11; our models calculate a fair value of €0.7500 per share.
What do the bullish and bearish scenarios say about ADX?
Our models span a range for Audax Renovables S.A.: cautious scenario €0.4700, base €0.7500, optimistic €0.9800 per share (as of Nov 6, 2026, price €1.11). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ADX?
Audax Renovables S.A. trades at a price-to-earnings ratio of 36.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €0.7500 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 28.8. Other multiples: PEG 1.3, P/B 2.4, P/S 0.3, EV/EBITDA 7.2.
What is the PEG ratio of ADX?
The PEG ratio of Audax Renovables S.A. is 1.29 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Audax Renovables S.A. (ADX)?
Balance-sheet figures for Audax Renovables S.A. (as of Nov 6, 2026): return on equity 6.4%, debt of 2.07 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is ADX from its 52-week high?
Audax Renovables S.A. trades at €1.11, about 24% below its 52-week high of €1.45 and 9% above the low of €1.02 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.7500 is for.
Which stocks are comparable to Audax Renovables S.A.?
From the same area (Utilities) we also value China Yangtze Power Co, Huaneng Lancang River Hydropower Inc, Ørsted A/S, VERBUND AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Audax Renovables S.A. stock attractive at the current price?
The data as of Nov 6, 2026: price €1.11, calculated fair value €0.7500 (−32%), Quality Score 42/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADX calculated?
We run Audax Renovables S.A. through 23 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €0.7500 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Audax Renovables S.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Audax Renovables S.A. (ADX)?
The closing price on Nov 6, 2026 was €1.11. Our model-based fair value is €0.7500, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Audax Renovables S.A. right now?
The price sits above even our optimistic bull case (€0.9800). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (€0.4700 to €0.9800) leaves room in how you read the outcome.
Key figures of Audax Renovables S.A.
How large is the market capitalisation of Audax Renovables S.A. (ADX)?
The market capitalisation of Audax Renovables S.A. is €494M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Audax Renovables S.A. (ADX)?
The price-to-sales ratio of Audax Renovables S.A. is 0.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Audax Renovables S.A. (ADX)?
Earnings per share at Audax Renovables S.A. are €0.0300 (price ÷ EPS = P/E 36.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Audax Renovables S.A. (ADX)?
The dividend yield of Audax Renovables S.A. is 3.6% (payout 134%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Audax Renovables S.A. (ADX)?
The net margin of Audax Renovables S.A. is 0.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Audax Renovables S.A. (ADX)?
The return on equity (ROE) of Audax Renovables S.A. is 6.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Audax Renovables S.A. (ADX)?
On an EBIT basis the return on assets of Audax Renovables S.A. is 4.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Audax Renovables S.A. (ADX)?
The operating margin of Audax Renovables S.A. is 5.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Audax Renovables S.A. (ADX)?
Revenue at Audax Renovables S.A. is growing +8.3% versus a year earlier (3y avg −10.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Audax Renovables S.A. (ADX)?
Earnings per share at Audax Renovables S.A. are growing −73.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Audax Renovables S.A. (ADX) carry?
The net debt of Audax Renovables S.A. is €333M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026