Endesa S.A (ELEZF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Endesa S.A $32.81, price $48.63, upside -32.5%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range $8.80 – $49.05 · fair‑value band $20.13 – $51.61 · the $48.63 price screens above the $32.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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Endesa, S.A. engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally. It generates electricity from various energy sources, such as hydroelectric, nuclear, thermal, wind, and solar.
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Endesa, S.A. engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally. It generates electricity from various energy sources, such as hydroelectric, nuclear, thermal, wind, and solar. The company also offers advisory services and technology relating to energy, distributed generation, and energy demand management; deploys infrastructures for charging electric vehicles, vehicle-to-grid, and second-life services for batteries; develops integrated services for local administrations, such as public lighting, smart city development, energy services, and solutions for connectivity; and provides financial solutions for energy producers, as well as offers engineering and construction services for facilities related to the electricity business. As of December 31, 2025, it had an installed capacity of 22, 616 MW; operated 321,843 km of distribution networks and transmission grids; and distributed electricity to 9,590 thousand customers and gas to 1,699 thousand customers. The company was formerly known as Empresa Nacional de Electricidad, S.A. and changed its name to Endesa, S.A. in June 1997. The company was incorporated in 1944 and is headquartered in Madrid, Spain. Endesa, S.A. is a subsidiary of Enel Iberia Srl.
Stock analysis
Endesa S.A (ELEZF) currently trades at $48.63, while our model-based Fair Value estimate is $32.81, 32.5% 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 $41.05 per share, and 1 of the 22 models we run sit above the $48.63 price.
Bear case: the Asset-Based group reads lowest at $6.27, and 21 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: $20.13 (bear) to $51.61 (bull), the price of $48.63 sits inside 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 55/100 (solid 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.
Endesa S.A reported revenue of €21.0B in FY2025 versus €20.5B in FY2021, a compound +0.6%/yr. Reported net income was €2.2B in FY2025, compounding +11.2%/yr from FY2021.
Key figures
Market cap $51.5B · P/E ratio 18.6 · P/S ratio 1.95 · EPS (TTM) $2.61 · Dividend yield 3.3% · Net margin 10.5% · Return on equity 24.5% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at −33%, ELEZF screens richer than that median.
Fair Value models
Bear $20.13Fair Value $32.81Bull $51.61
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.7758 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.Evidence ⓘEvidence = 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.
+12.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.5%
Dividend (yield on the price)3.3%
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.9.5% vs 4.5%, picking up
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.11% → 16%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+9.7%
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.
+0.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +7.3% a year for the price and −1.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (49 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
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 - Regulated Electric · 155 stocks
Beats the industry median on 4/15 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Top 25%
Fair Value upside−34.9% · Below median
Profitability
Return on equity (TTM)24.5% · Top 25%
Return on assets5.9% · Above median
Net margin (TTM)11.2% · Below median
Operating margin (TTM)18.3% · Above median
Growth and dividend
Revenue growth−1.3% · Below median
Dividend yield (TTM)3.3% · Below median
Balance sheet
Debt / equity1.08× · Above median
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
P/E (TTM)18.6× · Pricier than median
P/B5.37× · Priciest 25%
P/S (TTM)2.18× · Pricier than median
P/FCF20.7× · Pricier than median
EV/EBITDA9.9× · Pricier than median
PEG3.98× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 12
FUTURE (revenue growth)0· sector 21
PAST (return on equity)98· sector 39
HEALTH (low debt)46· sector 52
DIVIDEND (yield)65· sector 65
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Endesa S.A Fair Value". https://www.fairvalue-calculator.com/stock/ELEZF
Frequently asked questions
Is Endesa S.A (ELEZF) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of $32.81 versus a price of $48.63, about −33% upside (overvalued).
What is the fair value of ELEZF?
Our model-based fair value for Endesa S.A is $32.81 (as of Sep 29, 2026), built from audited fundamentals. The current price: $48.63.
What is the quality score of ELEZF?
Endesa S.A has a Quality Score of 55/100. 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 Endesa S.A (ELEZF)?
Our model-based price target is the fair value of $32.81 (as of Sep 29, 2026) from 22 valuation models. Cautious scenario $20.13, optimistic scenario $51.61. It is a calculation from audited fundamentals, not an analyst target.
What is the Endesa S.A stock forecast for 2026?
Our models put fair value at $32.81, about −33% upside versus a price of $48.63 (overvalued). Cautious scenario $20.13, optimistic scenario $51.61. The calculation is refreshed regularly with new filings.
What is the revenue of Endesa S.A (ELEZF)?
Endesa S.A reported trailing-twelve-month revenue of about €21.0B (latest available figure, as of Sep 29, 2026).
Does Endesa S.A pay a dividend?
Endesa S.A currently shows a dividend yield of about 3.26% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Endesa S.A (ELEZF)?
For today's price to be fair in a discounted-cash-flow model, Endesa S.A would have to grow free cash flow by +9.7 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.8 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of ELEZF use?
Our models discount Endesa S.A at 8.3 %: a base by market capitalisation (large), damped by beta 0.58, country premium for USA. 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 Endesa S.A that is +9.7 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Endesa S.A (ELEZF) delivered so far?
Over the past 5 years revenue at Endesa S.A grew +4.8 % a year. The price currently implies +9.7 % per year free-cash-flow growth a 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 Endesa S.A (ELEZF) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into Endesa S.A (+9.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Endesa S.A (ELEZF)?
The free-cash-flow yield on the price is 4.83 %: that much free cash flow Endesa S.A produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Endesa S.A (ELEZF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Endesa S.A it is $32.81 per share (as of Sep 29, 2026), against a price of $48.63. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Endesa S.A stock overvalued or undervalued in 2026?
As of Sep 29, 2026, ELEZF trades above its calculated fair value: price $48.63, fair value $32.81, a gap of about −33% (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 ELEZF?
No. The price is what the market pays today ($48.63); the fair value is what the company's own numbers justify ($32.81). For Endesa S.A the two are $15.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is Endesa S.A worth?
The market values Endesa S.A at about $51.5B (market capitalisation, as of Sep 29, 2026). Per share that is $48.63; our models calculate a fair value of $32.81 per share.
What do the bullish and bearish scenarios say about ELEZF?
Our models span a range for Endesa S.A: cautious scenario $20.13, base $32.81, optimistic $51.61 per share (as of Sep 29, 2026, price $48.63). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ELEZF?
Endesa S.A trades at a price-to-earnings ratio of 18.6 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $32.81 is built from several models across several years. Other multiples: PEG 4.0, P/B 5.4, P/S 2.2, EV/EBITDA 9.9.
What is the PEG ratio of ELEZF?
The PEG ratio of Endesa S.A is 3.98 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Endesa S.A (ELEZF)?
Balance-sheet figures for Endesa S.A (as of Sep 29, 2026): return on equity 24.5%, debt of 1.08 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
Which stocks are comparable to Endesa S.A?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Endesa S.A stock attractive at the current price?
The data as of Sep 29, 2026: price $48.63, calculated fair value $32.81 (−33%), Quality Score 55/100, from 22 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 ELEZF calculated?
We run Endesa S.A through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $32.81, 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 14.5 % above its aggregate fair value. Endesa 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 Endesa S.A (ELEZF)?
The closing price on Oct 2, 2026 was $48.63. Our model-based fair value is $32.81, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Endesa S.A right now?
Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($20.13 to $51.61) leaves room in how you read the outcome.
Where does the earnings growth of Endesa S.A (ELEZF) come from?
Earnings per share at Endesa S.A grew −2.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.6 %, EBIT margin +3.6 %, tax rate −1.7 %, residual (interest, one-offs) −5.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Endesa S.A
How large is the market capitalisation of Endesa S.A (ELEZF)?
The market capitalisation of Endesa S.A is $51.5B. 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 Endesa S.A (ELEZF)?
The price-to-sales ratio of Endesa S.A is 1.95 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Endesa S.A (ELEZF)?
Earnings per share at Endesa S.A are $2.61 (price ÷ EPS = P/E 18.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Endesa S.A (ELEZF)?
The dividend yield of Endesa S.A is 3.3% (payout 60.7%). 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 Endesa S.A (ELEZF)?
The net margin of Endesa S.A is 10.5% (fiscal year 2025). 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 Endesa S.A (ELEZF)?
The return on equity (ROE) of Endesa S.A is 24.5% (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 Endesa S.A (ELEZF)?
On an EBIT basis the return on assets of Endesa S.A is 7.6% (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 Endesa S.A (ELEZF)?
The operating margin of Endesa S.A is 18.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Endesa S.A (ELEZF)?
Revenue at Endesa S.A is growing −1.3% versus a year earlier (3y avg −13.6%). 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 Endesa S.A (ELEZF)?
Earnings per share at Endesa S.A are growing +26.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Endesa S.A (ELEZF) carry?
The net debt of Endesa S.A is €10.7B (fiscal year 2025, ≈ 4.8 yrs of FCF). 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
Sep 29, 2026