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Edison S.p.A (EDNR) Fair Value & Analysis

Energy · IT · Market cap €9.3B

ES Edison S.p.A EDNR · MI
Price€1.91
Fair Value€0.9100
Upside-52.4%
Quality52/100
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Expensive Growth
Thin margins · 0.8% net margin
Low debt · negative free cash flow
Trails peers (3/14)
Narrow moat 26/100
Evidence: High Range €0.6800 – €1.14 Share as image

Fair value as of: Jul 17, 2026

From 17 valuation models · updated 21 days ago

Fair value updated Jul 17, 2026, revised from €1.29 to €0.9100 (−29.5%) since Jun 24, 2026. Share price −1.5% over the past month.

A solid business, but screening 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€1.14). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€2.51 €0.7888 Fair Value €0.9100 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €0.7888 – €2.51 · fair‑value band €0.6800 – €1.14 · the €1.91 price screens above the €0.9100 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Edison S.p.A (EDNR) currently trades at €1.91, while our model-based Fair Value estimate is €0.9100, implying the stock looks roughly 52.4% overvalued today. We read business quality at 52/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Edison S.p.A generated revenue of €16.9B at a net margin of 0.8%. Revenue declined 15.3% year over year. It earns a return on equity of 2.5%. Net debt stands at €180M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €0.6800 (bear case) to €1.14 (bull case); at €1.91, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at -52%, EDNR screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income €1.00 €1.00 €0.8800 76
ROIC Compounder €1.00 €1.12 €1.23 72
Gordon GGM €0.5300 €1.06 €1.60 70
All 17 models by family
DCF Models
Owner Earnings €0.3400 €0.4000 €0.4900 31
Earnings-Based
Graham-Dodd €0.3400 €0.9400 €1.23 54
Lynch FV €0.1900 €0.2700 €0.3500 50
PEG = 1.0 €0.1900 €0.2700 €0.3500 46
EPV €1.00 €1.12 €1.23 59
Dividend Discount
Gordon GGM €0.5300 €1.06 €1.60 70
DDM Multi-Stage €0.5300 €0.8200 €1.11 61
Multiples
P/E Multiple €0.7600 €1.01 €1.27 63
P/S Multiple €0.6500 €0.8600 €1.08 58
P/B Multiple €0.6500 €0.8600 €1.08 55
EV/EBIT €2.56 €3.34 €4.12 53
EV/EBITDA €3.04 €3.98 €4.92 54
EV/Revenue €1.79 €2.47 €3.15 43
Asset-Based
NCAV (Graham) €0.6800 €0.9100 €1.36 50
Economic Profit
Residual Income €1.00 €1.00 €0.8800 76
ROIC Compounder €1.00 €1.12 €1.23 72
Growth Earnings
Growth-Adj P/E €0.6000 €0.8600 €1.12 68

Widest divergence: Multiples (€1.01) versus Earnings-Based (€0.2700). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €16.9B
Revenue growth (YoY) -15.3%
Net margin 0.8%
Return on equity 2.5%
Free cash flow −€30.0M FY2025
P/E ratio 65.5
More key figures
Operating margin 1.2%
EPS (TTM) €0.0300
EPS growth (YoY) -44.8%
Net debt €180M FY2022

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 56 · Market factors (momentum, volatility) 42

Profitability 41
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Edison S.p.A. engages in the supply, production, and sale of electric power and gas in Italy and Europe. It produces and sells electric power through a network of 124 hydroelectric power plants, 9 thermoelectric power plants, 51 wind farms, and 62 photovoltaic plants.

Full company description

Edison S.p.A. engages in the supply, production, and sale of electric power and gas in Italy and Europe. It produces and sells electric power through a network of 124 hydroelectric power plants, 9 thermoelectric power plants, 51 wind farms, and 62 photovoltaic plants. The company also engages in the gas infrastructure and supplies business; liquefied natural gas business; and gas storage activities. In addition, it produces and sells hydrogen; and engages in the construction and operation of renewable energy plants, district heating networks, biomethane, and public lighting under service concession arrangements. Further, the company offers energy efficiency and environmental solutions to industrial clients and public administration. The company was formerly known as Montedison SpA and changed its name to Edison S.p.A. in 2002. Edison S.p.A. was founded in 1883 and is based in Milan, Italy. Edison S.p.A. operates as a subsidiary of Transalpina di Energia Spa.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Edison S.p.A reported revenue of €17.7B in FY2025 versus €11.7B in FY2021, a compound +10.9%/yr. Reported net income was €240M in FY2025, compounding −12.7%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€17.7B
Latest YoY
+15.3%
Avg. growth/yr (3Y)
−16.4%
Avg. growth/yr (5Y)
+22.7%
Avg. growth/yr (12Y)
+3.1%
Revenue +10.9%/yr
FY21 €11.7B
FY22 €30.4B
FY23 €18.4B
FY24 €15.4B
FY25 €17.7B
Net income −12.7%/yr
FY21 €413M
FY22 €151M
FY23 €515M
FY24 €403M
FY25 €240M

EDNR screens 52% overvalued. Compare with Saudi Arabian Oil Company →

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Cite: Fair Value Calculator (2026). "Edison S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/EDNR

Peer Group

Oil & Gas Integrated · 54 stocks

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.

Quality Score 52 · Bottom 25%
Fair Value upside −52% · Bottom 25%
Return on equity (TTM) 3% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) 1% · Bottom 25%
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.08× · Lower than 75% of peers

Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper

P/E (TTM) 65.5× · Pricier than 75% of peers
P/B 1.67× · Pricier than median
P/S (TTM) 0.64× · Cheaper than median
EV/EBITDA 17.5× · Pricier than 75% of peers
PEG 0.14× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 11
FUTURE 0 · sector 7
PAST 10 · sector 45
HEALTH 96 · sector 87
DIVIDEND 0 · sector 79

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Saudi Arabian Oil Company 2222 26.72 SAR 20.14 SAR -25%
Exxon Mobil Corporation XOM $144.51 $90.37 -37%
Chevron Corporation CHEV C$22.88 C$7.97 -65%
PetroChina Company 601857 ¥10.29 ¥16.51 +60%
Shell plc SHELL €38.04 €46.09 +21%
TotalEnergies SE TTE C$13.80 C$7.92 -43%
Petróleo Brasileiro S.A PETR3 12,540 ARS 30,914 ARS +147%
BP p.l.c., an integrated energy company, BP $40.83 $12.71 -69%
China Petroleum & Chemical Corporation 600028 ¥5.03 ¥4.46 -11%
Equinor ASA EQNR $36.19 $34.53 -5%

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Frequently asked questions

Is Edison S.p.A (EDNR) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €0.9100 versus a price of €1.91, about −52% (overvalued).
What is the fair value of EDNR?
Our model-based fair value for Edison S.p.A is €0.9100 (as of Jul 17, 2026), built from audited fundamentals. The current price is €1.91.
What is the quality score of EDNR?
Edison S.p.A has a Quality Score of 52/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Edison S.p.A (EDNR)?
Edison S.p.A reported trailing-twelve-month revenue of about €16.9B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of EDNR?
The net profit margin of Edison S.p.A is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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