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Data-driven stock valuation

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

We calculate from audited financials what Endesa, 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 · DE · Market cap €40.6B · ISIN ES0130670112

At a glance

ES Endesa, S.A ENA · XETRA
Price€41.35
Fair Value€27.73
Upside−32.9%
Quality57/100

A solid business, but trading 49% above our fair value of €27.73.

As of Aug 21, 2026, the fair value of Endesa, S.A is €27.73 per share against a price of €41.35, so the fair value sits 33% below the price. A model estimate from reported figures, not an analyst target.

!Weak Growth (revenue 5y +4.8 %/yr)
Solidly profitable · 11.2% net margin
Moderate debt · generates free cash flow
·3.83% dividend yield
Wide moat 65/100
Evidence: High Range €18.31 to €46.11

Fair value as of: Aug 21, 2026

From 22 valuation models · updated 18 days ago

Share price −2.3% over the past month.

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What runs behind every stock

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

What matters now

  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€18.31 to €46.11) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€42.50 €11.32 Fair Value €27.73 Nov 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

57‑month range €11.32 – €42.50 · fair‑value band €18.31 – €46.11 · the €41.35 price screens above the €27.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

Full chart & analysis →

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Analysis

Endesa, S.A (ENA) currently trades at €41.35, while our model-based Fair Value estimate is €27.73, implying the stock looks roughly 49.1% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Utilities sector. Bull case: the Multiples group reads highest at a median of €36.52 per share, and 2 of the 22 models we run sit above the €41.35 price. Bear case: the Asset-Based group reads lowest at €5.58, and 20 of the 22 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Endesa, S.A generated revenue of €21.0B at a net margin of 11.2%. Revenue declined 1.3% year over year. It earns a return on equity of 24.5%. Net debt stands at €9.9B. Fundamentals as of Aug 21, 2026

Scenario range: €18.31 (bear) to €46.11 (bull), the price of €41.35 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades near its 52-week high and 74% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −37% fair-value upside, at −33%, ENA screens cheaper than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (€0.4580 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 €12.18 €20.41 €35.65 78
Growth DCF €13.15 €21.14 €34.81 77
Owner Earnings €14.14 €23.15 €39.82 74
All 22 models by family
DCF Models
FCF DCF €12.18 €20.41 €35.65 78
Owner Earnings €14.14 €23.15 €39.82 74
5Y Revenue Exit €16.97 €30.45 €50.08 70
5Y EBITDA Exit €20.83 €37.14 €58.75 73
5Y P/E Exit €14.55 €26.26 €40.26 69
10Y Revenue Exit €14.10 €23.99 €34.74 66
10Y EBITDA Exit €17.27 €28.12 €39.83 68
10Y P/E Exit €13.45 €21.39 €28.98 64
Earnings-Based
Graham-Dodd €14.61 €17.86 €20.09 67
EPV €15.74 €19.83 €23.41 74
Multiples
P/E Multiple €29.00 €38.67 €48.34 63
P/S Multiple €27.39 €36.52 €45.65 58
P/B Multiple €11.24 €14.99 €18.74 55
EV/EBIT €29.99 €42.91 €55.84 65
EV/EBITDA €32.16 €45.81 €59.46 67
EV/Revenue €22.58 €36.02 €49.46 53
Asset-Based
NCAV (Graham) €4.16 €5.58 €8.33 54
Growth DCF
Growth DCF €13.15 €21.14 €34.81 77
Rev-Margin DCF €16.97 €30.94 €47.91 71
Economic Profit
Residual Income €14.26 €19.34 €108.96 64
ROIC Compounder €15.74 €20.89 €26.32 72
Growth Earnings
Growth-Adj P/E €20.61 €29.44 €38.27 67

Widest divergence: Multiples (€36.52) versus Asset-Based (€5.58). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 18.4
P/S ratio 1.92 P/E × margin
EPS (TTM) €2.25 price ÷ EPS = P/E 18.4
Dividend yield 3.8% payout 70.4%
Net margin 10.5% FY2025
Return on equity 24.5% TTM
More key figures
Profitability
Return on assets (EBIT) 10.0% avg 5y
Operating margin 18.3% TTM
Growth
Revenue (TTM) €21.0B TTM
Revenue growth (YoY) −1.3% 3y avg −13.6%
EPS growth (YoY) +26.4%
Balance sheet & cash flow
Free cash flow €2.2B FY2025
Net debt €9.9B FY2025 · ≈ 4.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 85

Profitability 51
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 94
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€21.0B
Latest YoY
+0.4%
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.
−13.6%
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.
+4.8%
Avg. revenue growth/yr (13Y) 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.
−3.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+13.8%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+10.0%
Dividend yield3.8%
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.15.2% (2020) → 16.8% (2025) · rising
Worst earnings drop71% (2023) · in EUR
Revenue +0.6%/yr
FY21 €20.5B
FY22 €32.5B
FY23 €25.1B
FY24 €20.9B
FY25 €21.0B
Net income +11.2%/yr
FY21 €1.4B
FY22 €2.5B
FY23 €742M
FY24 €1.9B
FY25 €2.2B

ENA screens 49% overvalued. Compare with NextEra Energy, Inc →

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

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 57 · Top 25%
Fair Value upside −38% · Below median
Profitability
Return on equity (TTM) 24% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 11% · Above median
Operating margin (TTM) 18% · Above median
Growth and dividend
Revenue growth −1% · Below median
Dividend yield (TTM) 3.8% · Above median
Balance sheet
Debt / equity 1.08× · Above median

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

P/E (TTM) 18.4× · Pricier than median
P/B 5.53× · Priciest 25%
P/S (TTM) 2.25× · Pricier than median
P/FCF 21.3× · Priciest 25%
EV/EBITDA 10.2× · Pricier than median
PEG 4.05× · Priciest 25%

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Endesa, 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+6.6 % per year
Achieved revenue growth, 5 years+4.8 % p.a.
Sector median revenue growth+0.6 %
FCF yield on price5.14 %
Discount rate (WACC) in the models8.1 %

The price demands roughly the growth the company recently delivered. Ranking of the largest stocks →

Context: sector, industry, market

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 21, 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%
Consolidated Edison, Inc ED $107.70 $62.35 −42%

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Frequently asked questions

Is Endesa, S.A (ENA) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of €27.73 versus a price of €41.35, about −33% upside (overvalued).
What is the fair value of ENA?
Our model-based fair value for Endesa, S.A is €27.73 (as of Aug 21, 2026), built from audited fundamentals. The current price: €41.35.
What is the quality score of ENA?
Endesa, S.A has a Quality Score of 57/100. 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 (ENA)?
Our model-based price target is the fair value of €27.73 (as of Aug 21, 2026) from 22 valuation models. Cautious scenario €18.31, optimistic scenario €46.11. 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 €27.73, about −33% upside versus a price of €41.35 (overvalued). Cautious scenario €18.31, optimistic scenario €46.11. The calculation is refreshed regularly with new filings.
What is the revenue of Endesa, S.A (ENA)?
Endesa, S.A reported trailing-twelve-month revenue of about €21.0B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of ENA?
The net profit margin of Endesa, S.A is about 11.2%, meaning it keeps roughly 11.2% of revenue as net income. Based on the latest reported figures.
Does Endesa, S.A pay a dividend?
Endesa, S.A currently shows a dividend yield of about 3.83% relative to its recent price (as of Aug 21, 2026).
What growth is priced into Endesa, S.A (ENA)?
For today's price to be fair in a discounted-cash-flow model, Endesa, S.A would have to grow free cash flow by +6.6 % per year for ten years (discount rate 8.1 %, then 2 % perpetual growth). Over the last 5 years revenue grew +4.8 % per year. As of Aug 21, 2026.
What discount rate (WACC) does the fair value of ENA use?
Our models discount Endesa, S.A at 8.1 %: a base by market capitalisation (large), damped by beta 0.59. The same rate applies in all 26 models.
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