RED Relative Valuation - Red Electrica Corporacion SA

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Price: 14.74 EUR -0.87% Market Closed

Market Cap: €8B

Relative Value

The Relative Value of one RED stock under the Base Case scenario is 17.69 EUR. Compared to the current market price of 14.74 EUR, Red Electrica Corporacion SA is Undervalued by 17%.

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?

RED Relative Value

Base Case

Undervaluation 17%

Relative Value

Price

Worst Case

Base Case

Best Case

Valuation Multiples

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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
ES	Red Electrica Corporacion SA MAD:RED	7.9B EUR	4.8	15.8	10.4	17
US	Nextera Energy Inc NYSE:NEE	191.6B USD	7	28	18.8	35
ES	Iberdrola SA MAD:IBE	123.2B EUR	2.7	19.6	9.8	15.9
IT	Enel SpA MIL:ENEL	95.3B EUR	0.8	9.5	5.6	7.8
US	Southern Co NYSE:SO	106.9B USD	3.6	24.6	12.9	23.5
US	Duke Energy Corp NYSE:DUK	102B USD	3.2	20.8	11.3	21.5
US	Constellation Energy Corp NASDAQ:CEG	100.9B USD	4	43.5	18.7	34.4
US	American Electric Power Company Inc NASDAQ:AEP	71.3B USD	3.3	19.9	13.1	21.6
FR	Electricite de France SA PAR:EDF	46.6B EUR	0.3	-2.5	-5.4	-3.2
US	Xcel Energy Inc NASDAQ:XEL	51.2B USD	3.5	25.4	14.4	29.7
US	Exelon Corp NASDAQ:EXC	50.3B USD	2.1	18.2	11.2	19.1

			Revenue Growth	P/S to Growth
ES	Red Electrica Corporacion SA MAD:RED	Average P/S: 3.2 4.8	5%	1
US	Nextera Energy Inc NYSE:NEE	7	11%	0.6
ES	Iberdrola SA MAD:IBE	2.7	3%	0.9
IT	Enel SpA MIL:ENEL	0.8	4%	0.2
US	Southern Co NYSE:SO	3.6	7%	0.5
US	Duke Energy Corp NYSE:DUK	3.2	4%	0.8
US	Constellation Energy Corp NASDAQ:CEG	4	10%	0.4
US	American Electric Power Company Inc NASDAQ:AEP	3.3	6%	0.5
FR	Electricite de France SA PAR:EDF	0.3	-17%	N/A
US	Xcel Energy Inc NASDAQ:XEL	3.5	9%	0.4
US	Exelon Corp NASDAQ:EXC	2.1	4%	0.5

			Earnings Growth	PEG
ES	Red Electrica Corporacion SA MAD:RED	Average P/E: 22.5 15.8	3%	5.3
US	Nextera Energy Inc NYSE:NEE	28	13%	2.2
ES	Iberdrola SA MAD:IBE	19.6	7%	2.8
IT	Enel SpA MIL:ENEL	9.5	3%	3.2
US	Southern Co NYSE:SO	24.6	12%	2.1
US	Duke Energy Corp NYSE:DUK	20.8	7%	3
US	Constellation Energy Corp NASDAQ:CEG	43.5	31%	1.4
US	American Electric Power Company Inc NASDAQ:AEP	19.9	5%	4
FR	Electricite de France SA PAR:EDF	Negative Multiple: -2.5	N/A	N/A
US	Xcel Energy Inc NASDAQ:XEL	25.4	14%	1.8
US	Exelon Corp NASDAQ:EXC	18.2	6%	3

			EBITDA Growth	EV/EBITDA to Growth
ES	Red Electrica Corporacion SA MAD:RED	Average EV/EBITDA: 12.6 10.4	6%	1.7
US	Nextera Energy Inc NYSE:NEE	18.8	15%	1.3
ES	Iberdrola SA MAD:IBE	9.8	4%	2.5
IT	Enel SpA MIL:ENEL	5.6	7%	0.8
US	Southern Co NYSE:SO	12.9	10%	1.3
US	Duke Energy Corp NYSE:DUK	11.3	5%	2.3
US	Constellation Energy Corp NASDAQ:CEG	18.7	23%	0.8
US	American Electric Power Company Inc NASDAQ:AEP	13.1	11%	1.2
FR	Electricite de France SA PAR:EDF	Negative Multiple: -5.4	N/A	N/A
US	Xcel Energy Inc NASDAQ:XEL	14.4	16%	0.9
US	Exelon Corp NASDAQ:EXC	11.2	8%	1.4

			EBIT Growth	EV/EBIT to Growth
ES	Red Electrica Corporacion SA MAD:RED	Average EV/EBIT: 22.6 17	7%	2.4
US	Nextera Energy Inc NYSE:NEE	35	23%	1.5
ES	Iberdrola SA MAD:IBE	15.9	5%	3.2
IT	Enel SpA MIL:ENEL	7.8	7%	1.1
US	Southern Co NYSE:SO	23.5	14%	1.7
US	Duke Energy Corp NYSE:DUK	21.5	8%	2.7
US	Constellation Energy Corp NASDAQ:CEG	34.4	33%	1
US	American Electric Power Company Inc NASDAQ:AEP	21.6	11%	2
FR	Electricite de France SA PAR:EDF	Negative Multiple: -3.2	N/A	N/A
US	Xcel Energy Inc NASDAQ:XEL	29.7	21%	1.4
US	Exelon Corp NASDAQ:EXC	19.1	7%	2.7

Red Electrica Corporacion SA
MAD:RED

Relative Value

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RED Competitors Multiples
Red Electrica Corporacion SA Competitors

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Red Electrica Corporacion SA MAD:RED

Relative Value

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RED Competitors Multiples Red Electrica Corporacion SA Competitors

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Red Electrica Corporacion SA
MAD:RED

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