EN DE
Data-driven stock valuation

Enea S.A. (ENA) fair value: what the stock is really worth

We calculate from audited financials what Enea S.A. 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, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Utilities · PL · Market cap 10.6B PLN (≈ $2.9B) · ISIN PLENEA000013

At a glance

ES Enea S.A. ENA · WAR
Price20.68 PLN
Fair Value33.95 PLN
Upside+64.2%
Quality56/100

A solid business, trading 39% below our fair value of 33.95 PLN.

As of Aug 20, 2026, the fair value of Enea S.A. is 33.95 PLN per share against a price of 20.68 PLN, so the fair value sits 64% above the price. A model estimate from reported figures, not an analyst target.

!Expensive Growth (revenue 5y +28.1 %/yr)
!Thin margins · 6.2% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (9/15)
!Moderate moat 50/100
Evidence: High Range 25.46 PLN to 42.43 PLN

Fair value as of: Aug 20, 2026

From 25 valuation models · updated 19 days ago

Fair value updated Aug 20, 2026, revised from 61.72 PLN to 33.95 PLN (−45.0%) since Aug 13, 2026. Share price +2.5% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (25.46 PLN). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

25.55 PLN 4.28 PLN Fair Value 33.95 PLN Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range 4.28 PLN – 25.55 PLN · fair‑value band 25.46 PLN – 42.43 PLN · the 20.68 PLN price screens below the 33.95 PLN fair value. Dashed = 300-day average. As of Aug 20, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Enea S.A. (ENA) currently trades at 20.68 PLN, while our model-based Fair Value estimate is 33.95 PLN, implying the stock looks roughly 39.1% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Utilities sector. Bull case: the DCF Models group reads highest at a median of 98.15 PLN per share, and 23 of the 25 models we run sit above the 20.68 PLN price. Bear case: the Dividend Discount group reads lowest at 8.07 PLN, and 2 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Enea S.A. generated revenue of 27.3B PLN at a net margin of 6.2%. Revenue declined 3.3% year over year. It earns a return on equity of 8.5%. Net debt stands at 2.7B PLN. Fundamentals as of Aug 20, 2026

Scenario range: 25.46 PLN (bear) to 42.43 PLN (bull), the price of 20.68 PLN sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 23% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −37% fair-value upside, at 64%, ENA screens cheaper than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (2.20 PLN per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Model 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. Evidence
Highest evidence
FCF DCF 41.47 PLN 75.20 PLN 132.31 PLN 75
EPV 48.01 PLN 56.56 PLN 64.04 PLN 74
Growth DCF 41.37 PLN 72.96 PLN 125.41 PLN 73
All 25 models by family
DCF Models
FCF DCF 41.47 PLN 75.20 PLN 132.31 PLN 75
5Y Revenue Exit 60.04 PLN 112.29 PLN 183.29 PLN 68
5Y EBITDA Exit 61.07 PLN 114.36 PLN 180.71 PLN 71
5Y P/E Exit 39.86 PLN 71.51 PLN 106.98 PLN 67
10Y Revenue Exit 50.83 PLN 98.15 PLN 170.42 PLN 62
10Y EBITDA Exit 53.97 PLN 99.66 PLN 168.30 PLN 64
10Y P/E Exit 40.02 PLN 68.61 PLN 107.76 PLN 60
Earnings-Based
Graham-Dodd 23.31 PLN 100.64 PLN 137.57 PLN 62
Lynch FV 25.82 PLN 36.89 PLN 47.96 PLN 59
PEG = 1.0 25.82 PLN 36.89 PLN 47.96 PLN 55
EPV 48.01 PLN 56.56 PLN 64.04 PLN 74
Dividend Discount
Gordon GGM 4.60 PLN 9.57 PLN 15.19 PLN 64
DDM Multi-Stage 4.60 PLN 8.07 PLN 10.05 PLN 64
Multiples
P/E Multiple 46.29 PLN 61.72 PLN 77.14 PLN 63
P/S Multiple 43.72 PLN 58.29 PLN 72.86 PLN 58
P/B Multiple 42.73 PLN 56.97 PLN 71.22 PLN 55
EV/EBIT 87.89 PLN 118.28 PLN 148.67 PLN 66
EV/EBITDA 77.40 PLN 104.29 PLN 131.19 PLN 67
EV/Revenue 70.47 PLN 102.07 PLN 133.68 PLN 53
Asset-Based
NCAV (Graham) 15.83 PLN 21.21 PLN 31.65 PLN 54
Growth DCF
Growth DCF 41.37 PLN 72.96 PLN 125.41 PLN 73
Rev-Margin DCF 60.04 PLN 110.60 PLN 174.27 PLN 69
Economic Profit
Residual Income 28.37 PLN 32.39 PLN 62.15 PLN 70
ROIC Compounder 53.61 PLN 73.51 PLN 100.21 PLN 69
Growth Earnings
Growth-Adj P/E 39.59 PLN 56.56 PLN 73.53 PLN 65

Widest divergence: DCF Models (98.15 PLN) versus Dividend Discount (8.07 PLN). Highest evidence: FCF DCF (75).

Notify me when ENA reaches fair value

Put ENA on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Free, no payment details. Unsubscribe anytime in one click.

Key figures & financial health

P/E ratio 6.5
P/S ratio 0.43 P/E × margin
EPS (TTM) 3.20 PLN price ÷ EPS = P/E 6.5
Dividend yield 2.5% payout 16.1%
Net margin 6.6% FY2025
Return on equity 8.5% TTM
More key figures
Profitability
Return on assets (EBIT) 5.6% avg 5y
Operating margin 16.7% TTM
Growth
Revenue (TTM) 27.3B PLN TTM
Revenue growth (YoY) −3.3% 3y avg −2.9%
EPS growth (YoY) −11.6%
Balance sheet & cash flow
Free cash flow 1.9B PLN FY2025
Net debt 2.7B PLN FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 56

Profitability 43
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 72
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

ENEA S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland. The company generates electricity from wind farms, and hydropower and biogas plants, as well as photovoltaic farms.

Full company description

ENEA S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland. The company generates electricity from wind farms, and hydropower and biogas plants, as well as photovoltaic farms. It also produces and sells coal and heat; modernizes road lighting equipment; and provides transport, repair, and construction services. It sells electricity to individual consumers, and small and medium-sized companies, as well as large industrial plants. The company was formerly known as Energetyka Poznanska S.A. ENEA S.A. was founded in 1904 and is based in Poznan, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Enea S.A. reported revenue of 27.5B PLN in FY2025 versus 21.3B PLN in FY2021, a compound +6.7%/yr. Reported net income was 1.8B PLN in FY2025, compounding +1.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
27.5B PLN
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.2%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+28.1%
Avg. revenue growth/yr (16Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.0%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +9.9%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+7.4%
Dividend yield2.5%
Trend ⓘ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.5Y 7.4% vs 10Y 6.0%, steady
Operating margin (EBIT) ⓘ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.−9.4% (2020) → 15.6% (2025) · rising
Worst earnings drop430% (2020) (loss year, drop beyond 100%) · in PLN
⚠ Final year 2025 sits 152% above trend (one-off), rate approximate
Revenue +6.7%/yr
FY21 21.3B PLN
FY22 30.1B PLN
FY23 44.0B PLN
FY24 31.2B PLN
FY25 27.5B PLN
Net income +1.8%/yr
FY21 1.7B PLN
FY22 45.3M PLN
FY23 −704M PLN
FY24 1.4B PLN
FY25 1.8B PLN
Character of growth · EPS growth decomposed (2013-2024) −2.8 % p.a.
Revenue per share +11.3 %

of which total revenue +13.1 % · buybacks/dilution −1.6 %

EBIT margin −6.2 %
Tax rate −5.1 %
Residual (interest, one-offs) −1.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

Watch ENA, get fair value alerts →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
Share or link this analysis
𝕏 Post WhatsApp LinkedIn Reddit
For bloggers & editors: embed code + live data

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.

Enea S.A. · Fair Value
33.95 PLN +39%Fair Value
Calculator →

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

Peer Group

Utilities - Regulated Electric · 155 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.

Valuation
Quality Score 56 · Top 25%
Profitability
Return on equity (TTM) 9% · Below median
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Below median
Operating margin (TTM) 17% · Below median
Growth and dividend
Revenue growth −3% · Bottom 25%
Dividend yield (TTM) 2.5% · Below median
Balance sheet
Debt / equity 0.35× · Below median

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 6.5× · Cheapest 25%
P/B 0.17× · Cheapest 25%
P/S (TTM) 0.11× · Cheapest 25%
P/FCF 1.5× · Cheaper than median
EV/EBITDA 0.9× · Cheapest 25%
PEG 4.85× · Priciest 25%

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Enea S.A. deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years-6.9 % per year
Achieved revenue growth, 5 years+8.6 % p.a.
Sector median revenue growth+0.6 %
FCF yield on price17.24 %
Discount rate (WACC) in the models9.7 %

The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 2
FUTURE0 · sector 32
PAST34 · sector 38
HEALTH83 · sector 53
DIVIDEND50 · sector 65

Values & ESG

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

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $83.43 $32.94 −61%
The Southern Company SO $88.25 $58.81 −33%
Duke Energy Corporation DUK $120.25 $74.89 −38%
National Grid plc NGG $80.68 $63.94 −21%
American Electric Power Company AEP $122.96 $77.23 −37%
Dominion Energy, Inc D $66.01 $46.34 −30%
Entergy Corporation ETR $107.27 $52.92 −51%
Xcel Energy Inc XEL $76.34 $44.61 −42%
Exelon Corporation EXC $43.64 $37.60 −14%
Endesa, S.A ELE €41.43 €25.72 −38%

Compare Enea S.A. with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Utilities stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark

Frequently asked questions

Is Enea S.A. (ENA) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of 33.95 PLN versus a price of 20.68 PLN, about +64% upside (undervalued).
What is the fair value of ENA?
Our model-based fair value for Enea S.A. is 33.95 PLN (as of Aug 20, 2026), built from audited fundamentals. The current price: 20.68 PLN.
What is the quality score of ENA?
Enea S.A. has a Quality Score of 56/100. 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 Enea S.A. (ENA)?
Our model-based price target is the fair value of 33.95 PLN (as of Aug 20, 2026) from 25 valuation models. Cautious scenario 25.46 PLN, optimistic scenario 42.43 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Enea S.A. stock forecast for 2026?
Our models put fair value at 33.95 PLN, about +64% upside versus a price of 20.68 PLN (undervalued). Cautious scenario 25.46 PLN, optimistic scenario 42.43 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Enea S.A. (ENA)?
Enea S.A. reported trailing-twelve-month revenue of about 27.3B PLN (latest available figure, as of Aug 20, 2026).
What is the net profit margin of ENA?
The net profit margin of Enea S.A. is about 6.2%, meaning it keeps roughly 6.2% of revenue as net income. Based on the latest reported figures.
Does Enea S.A. pay a dividend?
Enea S.A. currently shows a dividend yield of about 2.49% relative to its recent price (as of Aug 20, 2026).
What growth is priced into Enea S.A. (ENA)?
For today's price to be fair in a discounted-cash-flow model, Enea S.A. would have to grow free cash flow by -6.9 % per year for ten years (discount rate 9.7 %, then 2 % perpetual growth). Over the last 5 years revenue grew +8.6 % per year. As of Aug 20, 2026.
What discount rate (WACC) does the fair value of ENA use?
Our models discount Enea S.A. at 9.7 %: a base by market capitalisation (mid), damped by beta 0.67, country premium for Poland. The same rate applies in all 26 models.
Free · no account needed

Continue in the live analysis

Fair value and trend for 35,000+ stocks, watchlist, comparison and the diversification check. You can also try 14 days of Pro there, no card.

Open the live analysis →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.