EnBW Energie Baden-Württemberg AG (EBK) fair value: what the stock is really worth
We calculate from audited financials what EnBW Energie Baden-Württemberg AG is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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EnBW Energie Baden-Württemberg AG
EBK · XETRAWeakest SetupStrongly overvalued and low quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range €54.44 – €92.00 · fair‑value band €21.11 – €39.41 · the €68.00 price screens above the €21.11 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. Dashed = 300-day average. As of Sep 18, 2026.
Company profile
EnBW Energie Baden-Württemberg AG operates as an integrated energy company in Germany, Rest of Europe, and internationally. It operates through three segments: Sustainable Generation Infrastructure, Critical Infrastructure, and Smart Infrastructure for Customers.
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EnBW Energie Baden-Württemberg AG operates as an integrated energy company in Germany, Rest of Europe, and internationally. It operates through three segments: Sustainable Generation Infrastructure, Critical Infrastructure, and Smart Infrastructure for Customers. The Sustainable Generation Infrastructure segment encompasses company activities in the areas of renewable energies, conventional generation, district heating, waste management, and energy services. This segment includes the trading of electricity, gas, CO2 allowances, and fuels, as well as the storage of gas and the direct marketing of renewable energy power plants. The Critical Infrastructure segment transmits and distributes grids for electricity and gas, offers grid-related services, and supplies water. The Smart Infrastructure for Customers segment comprises the sale of electricity and gas, the expansion of fast-charging infrastructure, and digital solutions for electromobility. It also includes activities in the telecommunications sector and other household-level solutions, such as photovoltaics and home storage systems. In addition, the company generates power from wind, water, sun, biomass, and geothermal energy, operates and dismantles nuclear power plants, and engages in the project development, planning, construction, and economic operation of power plants based on renewable energies. Further, the company sells electricity and gas. The company operates under the EnBW, Yello, GVS, Erdgas Südwest, ODR, ZEAG, NaturEnergie, Pra"ská energetika, Stadtwerke Düsseldorf, VNG, and goldgas brands. It serves retail customers, small commercial businesses, the housing industry, agriculture industries, industrial customers, redistributors, municipal utilities, local authorities, and public entities. The company was incorporated in 1931 and is headquartered in Karlsruhe, Germany.
Stock analysis
EnBW Energie Baden-Württemberg AG (EBK) currently trades at €68.00, while our model-based Fair Value estimate is €21.11, implying the stock looks roughly 222.2% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €87.58 per share, and 5 of the 14 models we run sit above the €68.00 price.
Bear case: the Dividend Discount group reads lowest at €24.86, and 9 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: €21.11 (bear) to €39.41 (bull), the price of €68.00 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 32/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
EnBW Energie Baden-Württemberg AG reported revenue of €34.4B in FY2025 versus €32.1B in FY2021, a compound +1.7%/yr. Reported net income was −€207M in FY2025.
Key figures
Market cap €22.5B · P/E ratio 97.1 · P/S ratio 0.65 · EPS (TTM) €0.7000 · Dividend yield 2.5% · Net margin −0.6% · Return on equity 0.1% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −34% fair-value upside, at −69%, EBK screens richer than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 58
Revenue & earnings trend
Growth Forecast
EBK screens 222% overvalued. Compare with Iberdrola, S.A →
Recent news
- EnBW and partners inaugurate 960MW He Dreiht offshore wind project
- Zelestra, EnBW sign agreement for 300MW Italian battery storage project
- EnBW and Zelestra partner on major battery storage project
- EnBW begins construction of 400MW BESS in Germany
Compare EnBW Energie Baden-Württemberg AG with another stock
Price, fair value, quality and upside side by side.
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 - Diversified · 52 stocks
Valuation Multiplesvs Utilities - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Diversified stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Iberdrola, S.A IBE | €20.24 | €8.00 | −60% |
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| Engie SA ENGI | €24.25 | €20.64 | −15% |
| Sempra SRE | $81.70 | $43.35 | −47% |
| E.ON SE EOAN | €17.78 | €9.09 | −49% |
| RWE Aktiengesellschaft generates and RWE | €60.62 | €47.21 | −22% |
| ACWA Power Company 2082 | 181.50 SAR | 27.47 SAR | −85% |
| Brookfield Infrastructure Partners L.P. BIPUN | C$51.08 | C$59.52 | +17% |
| EDP, S.A EDP | €4.85 | €3.81 | −21% |
| Origin Energy Limited ORG | A$11.74 | A$7.70 | −34% |
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Key figures of EnBW Energie Baden-Württemberg AG
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