Manawa Energy Ltd
NZX:MNW

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Manawa Energy Ltd
NZX:MNW
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Price: 6.37 NZD
Market Cap: NZ$2B

EV/S

5
Current
23%
More Expensive
vs 3-y average of 4.1

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
5
=
Enterprise Value
NZ$2.5B
/
Revenue
NZ$490.8m

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
5
=
Enterprise Value
NZ$2.5B
/
Revenue
NZ$490.8m

Valuation Scenarios

Manawa Energy Ltd is trading above its 3-year average

If EV/S returns to its 3-Year Average (4.1), the stock would be worth NZ$5.18 (19% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-37%
Maximum Upside
No Upside Scenarios
Average Downside
27%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 5 NZ$6.37
0%
3-Year Average 4.1 NZ$5.18
-19%
5-Year Average 4.3 NZ$5.38
-16%
Industry Average 3.2 NZ$4
-37%
Country Average 3.2 NZ$4
-37%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
NZ$2.5B
/
Apr 2025
NZ$490.8m
=
5
Current
NZ$2.5B
/
Mar 2026
NZ$455.3m
=
5.4
Forward
NZ$2.5B
/
Mar 2027
NZ$464.1m
=
5.3
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
NZ
Manawa Energy Ltd
NZX:MNW
2B NZD 5 -2 467.4
US
Nextera Energy Inc
NYSE:NEE
201.2B USD 10.8 24.6
ES
Iberdrola SA
MAD:IBE
128.6B EUR 3.8 20.8
IT
Enel SpA
MIL:ENEL
98.2B EUR 2 23.8
US
Constellation Energy Corp
NASDAQ:CEG
110.8B USD 4.5 41.2
US
Southern Co
NYSE:SO
103.8B USD 5.8 23.9
US
Duke Energy Corp
NYSE:DUK
99.4B USD 5.6 20.2
US
American Electric Power Company Inc
NASDAQ:AEP
73.3B USD 5.4 20.5
FR
Electricite de France SA
PAR:EDF
46.6B EUR 0.4 -2.5
US
Entergy Corp
NYSE:ETR
51.2B USD 6.1 29.1
US
Xcel Energy Inc
NASDAQ:XEL
49.6B USD 5.7 24.6
P/E Multiple
Earnings Growth PEG
NZ
Manawa Energy Ltd
NZX:MNW
Average P/E: 25.4
Negative Multiple: -2 467.4
N/A N/A
US
Nextera Energy Inc
NYSE:NEE
24.6
13%
1.9
ES
Iberdrola SA
MAD:IBE
20.8
7%
3
IT
Enel SpA
MIL:ENEL
23.8
25%
1
US
Constellation Energy Corp
NASDAQ:CEG
41.2
40%
1
US
Southern Co
NYSE:SO
23.9
12%
2
US
Duke Energy Corp
NYSE:DUK
20.2
7%
2.9
US
American Electric Power Company Inc
NASDAQ:AEP
20.5
5%
4.1
FR
Electricite de France SA
PAR:EDF
Negative Multiple: -2.5 N/A N/A
US
Entergy Corp
NYSE:ETR
29.1
13%
2.2
US
Xcel Energy Inc
NASDAQ:XEL
24.6
16%
1.5

Market Distribution

In line with most companies in New Zealand
Percentile
67th
Based on 234 companies
67th percentile
5
Low
0.2 — 1.7
Typical Range
1.7 — 5.7
High
5.7 —
Distribution Statistics
New Zealand
Min 0.2
30th Percentile 1.7
Median 3.2
70th Percentile 5.7
Max 23.9

Manawa Energy Ltd
Glance View

Market Cap
2B NZD
Industry
Utilities

Trustpower Ltd. engages in electricity generation and the retailing of energy and telecommunication services. The company is headquartered in Tauranga, Bay Of Plenty and currently employs 204 full-time employees. The company went IPO on 2016-10-28. The firm is an independent electricity generator and renewables developer. The company focuses on providing a range of solar and wind projects. The firm is engaged in supplying electricity to commercial and industrial business customers. The company operates approximately 26 power schemes from the Bay of Plenty in the north, to Otago in the south and has a total installed capacity of 498 megawatt (MW). The firm's commercial and industrial electricity business supplies at more than 14,000 electricity connections nationally. The company supplies approximately 1,250 Gigawatt hours (GWh) per annum.

MNW Intrinsic Value
4.38 NZD
Overvaluation 31%
Intrinsic Value
Price NZ$6.37
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