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Endesa SA ELE Stock Quote

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Morningstar‘s Stock Analysis ELE

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Endesa Lowers Its 2023-24 Targets on Spanish Windfall Tax; Shares Undervalued

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

No-moat Endesa lowered its 2023-24 net income and dividend targets on the looming Spanish windfall tax. The downside to our 2023 and 2024 estimates will be offset by the upside to our 2022 and 2025 ones, so we confirm our EUR 22.30 fair value estimate. Shares appear undervalued. 

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Key Statistics ELE

Company Profile ELE

Business Description

Endesa generates, distributes, and supplies electricity in Spain and Portugal. The company operates 21.1 gigawatts of installed generation capacity split among hydroelectric, nuclear, coal, natural gas, oil, solar, and wind. Endesa also supplies gas to retail and business customers in Spain and France.

Ribera del Loira 60
Madrid, 28042, Spain
T +34 912131503
Industry Utilities - Regulated Electric
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 9,215