Terna Energy SA (ATHEX:TENERGY)

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Price: 19.8 EUR -0.05%

Market Cap: 2.3B EUR

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Section:

Relative Value

The Relative Value of one TENERGY stock under the Base Case scenario is 22.03 EUR. Compared to the current market price of 19.8 EUR, Terna Energy SA is Undervalued by 10%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

TENERGY Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

P/S

vs History	22
vs Industry	9

Median 5Y

5.4

Industry

1.7

Forward

5.7

More Details

75.3

P/E

vs History	1
vs Industry	11

Median 5Y

24.6

Industry

15.2

Forward

More Details

12.7

P/OCF

vs History	44
vs Industry	15

Median 5Y

12.5

Industry

More Details

63.5

P/FCFE

vs History	0
vs Industry

Median 5Y

4.6

Industry

13.8

More Details

5.2

P/B

vs History	0
vs Industry	8

Median 5Y

3.7

Industry

1.4

More Details

9.3

EV/S

vs History	20
vs Industry	9

Median 5Y

7.7

Industry

2.8

Forward

7.6

More Details

16.2

EV/GP

vs History	47
vs Industry	13

Median 5Y

16.1

Industry

7.5

More Details

15.3

EV/EBITDA

vs History	31
vs Industry	20

Median 5Y

14.7

Industry

10.5

Forward

14.3

More Details

21.1

EV/EBIT

vs History	41
vs Industry	18

Median 5Y

20.8

Industry

14.9

Forward

20.6

More Details

16.8

EV/OCF

vs History	46
vs Industry	16

Median 5Y

16.7

Industry

11.1

More Details

44.8

EV/FCFF

vs History	9
vs Industry

Median 5Y

-20.2

Industry

16.4

More Details

1.8

EV/IC

vs History	22
vs Industry	16

Median 5Y

1.6

Industry

0.9

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
GR	T	Terna Energy SA ATHEX:TENERGY	2.3B EUR	7	75.3	15.3	21.1
CN		China Yangtze Power Co Ltd SSE:600900	667B CNY	8.1	22.4	20.8	20.8
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	896.4T IDR	95.7	518.8	132.4	132.4
CN		Huaneng Lancang River Hydropower Inc SSE:600025	169.6B CNY	6.9	21.9	22.4	22.4
IN		Adani Green Energy Ltd NSE:ADANIGREEN	1.7T INR	15.5	147.7	25.3	34.4
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	131.4B CNY	4.7	19.6	22.5	22.5
CN		China Longyuan Power Group Corp Ltd HKEX:916	139.8B HKD	3.5	25.2	22.2	22.2
ES	E	EDP Renovaveis SA ELI:EDPR	11.2B EUR	3.4	12.9	13.9	13.9
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	81.2B CNY	52.4	16.3	248.5	248.5
IN		NHPC Ltd NSE:NHPC	795.2B INR	8.3	22	21.5	28.5
NZ		Meridian Energy Ltd NZX:MEL	15.2B NZD	3.1	35.5	24	24

				Revenue Growth
GR	T	Terna Energy SA ATHEX:TENERGY	Average P/S: 19 7	45%
CN		China Yangtze Power Co Ltd SSE:600900	8.1	17%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	95.7	N/A
CN		Huaneng Lancang River Hydropower Inc SSE:600025	6.9	28%
IN		Adani Green Energy Ltd NSE:ADANIGREEN	15.5	179%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	4.7	55%
CN		China Longyuan Power Group Corp Ltd HKEX:916	3.5	23%
ES	E	EDP Renovaveis SA ELI:EDPR	3.4	35%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	52.4	32%
IN		NHPC Ltd NSE:NHPC	8.3	99%
NZ		Meridian Energy Ltd NZX:MEL	3.1	-3%

				Earnings Growth
GR	T	Terna Energy SA ATHEX:TENERGY	Average P/E: 83.4 75.3	63%
CN		China Yangtze Power Co Ltd SSE:600900	22.4	37%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	518.8	N/A
CN		Huaneng Lancang River Hydropower Inc SSE:600025	21.9	44%
IN		Adani Green Energy Ltd NSE:ADANIGREEN	147.7	369%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	19.6	44%
CN		China Longyuan Power Group Corp Ltd HKEX:916	25.2	-42%
ES	E	EDP Renovaveis SA ELI:EDPR	12.9	120%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	16.3	31%
IN		NHPC Ltd NSE:NHPC	22	74%
NZ		Meridian Energy Ltd NZX:MEL	35.5	34%

				EBITDA Growth
GR	T	Terna Energy SA ATHEX:TENERGY	Average EV/EBITDA: 51.7 15.3	49%
CN		China Yangtze Power Co Ltd SSE:600900	20.8	69%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	132.4	N/A
CN		Huaneng Lancang River Hydropower Inc SSE:600025	22.4	90%
IN		Adani Green Energy Ltd NSE:ADANIGREEN	25.3	210%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	22.5	204%
CN		China Longyuan Power Group Corp Ltd HKEX:916	22.2	27%
ES	E	EDP Renovaveis SA ELI:EDPR	13.9	325%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	248.5	1 677%
IN		NHPC Ltd NSE:NHPC	21.5	117%
NZ		Meridian Energy Ltd NZX:MEL	24	81%

				EBIT Growth
GR	T	Terna Energy SA ATHEX:TENERGY	Average EV/EBIT: 53.7 21.1	56%
CN		China Yangtze Power Co Ltd SSE:600900	20.8	27%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	132.4	N/A
CN		Huaneng Lancang River Hydropower Inc SSE:600025	22.4	41%
IN		Adani Green Energy Ltd NSE:ADANIGREEN	34.4	259%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	22.5	51%
CN		China Longyuan Power Group Corp Ltd HKEX:916	22.2	22%
ES	E	EDP Renovaveis SA ELI:EDPR	13.9	169%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	248.5	805%
IN		NHPC Ltd NSE:NHPC	28.5	148%
NZ		Meridian Energy Ltd NZX:MEL	24	20%

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Terna Energy SA
ATHEX:TENERGY

Relative Value

Valuation Multiples

Multiples Across Competitors

TENERGY Competitors Multiples
Terna Energy SA Competitors

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52 Week Range	14.82 19.81
Price Target

Terna Energy SA ATHEX:TENERGY

Relative Value

Valuation Multiples

Multiples Across Competitors

TENERGY Competitors Multiples Terna Energy SA Competitors

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Company

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Terna Energy SA
ATHEX:TENERGY

TENERGY Competitors Multiples
Terna Energy SA Competitors