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REDEIA CORP SA (RE21.DE) Stock Fundamental Analysis

FRA:RE21 - Deutsche Boerse Ag - ES0173093024 - Common Stock - Currency: EUR

17  -0.18 (-1.05%)

Fundamental Rating

3

Taking everything into account, RE21 scores 3 out of 10 in our fundamental rating. RE21 was compared to 15 industry peers in the Electric Utilities industry. While RE21 is still in line with the averages on profitability rating, there are concerns on its financial health. RE21 is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year RE21 was profitable.
In the past year RE21 had a positive cash flow from operations.
In the past 5 years RE21 has always been profitable.
RE21 had a positive operating cash flow in each of the past 5 years.
RE21.DE Yearly Net Income VS EBIT VS OCF VS FCFRE21.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

1.2 Ratios

The Return On Assets of RE21 (2.44%) is worse than 62.50% of its industry peers.
The Return On Equity of RE21 (7.15%) is worse than 68.75% of its industry peers.
RE21's Return On Invested Capital of 4.57% is on the low side compared to the rest of the industry. RE21 is outperformed by 62.50% of its industry peers.
RE21 had an Average Return On Invested Capital over the past 3 years of 5.40%. This is below the industry average of 8.70%.
Industry RankSector Rank
ROA 2.44%
ROE 7.15%
ROIC 4.57%
ROA(3y)3.9%
ROA(5y)4.28%
ROE(3y)11.26%
ROE(5y)14.12%
ROIC(3y)5.4%
ROIC(5y)6%
RE21.DE Yearly ROA, ROE, ROICRE21.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

RE21 has a Profit Margin of 23.11%. This is amongst the best in the industry. RE21 outperforms 87.50% of its industry peers.
In the last couple of years the Profit Margin of RE21 has declined.
The Operating Margin of RE21 (44.44%) is better than 93.75% of its industry peers.
RE21's Operating Margin has declined in the last couple of years.
RE21 has a Gross Margin of 102.40%. This is amongst the best in the industry. RE21 outperforms 100.00% of its industry peers.
In the last couple of years the Gross Margin of RE21 has remained more or less at the same level.
Industry RankSector Rank
OM 44.44%
PM (TTM) 23.11%
GM 102.4%
OM growth 3Y-3.37%
OM growth 5Y-3.68%
PM growth 3Y-12.8%
PM growth 5Y-8.28%
GM growth 3Y0.16%
GM growth 5Y0.22%
RE21.DE Yearly Profit, Operating, Gross MarginsRE21.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80 100

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so RE21 is still creating some value.
RE21 has about the same amout of shares outstanding than it did 1 year ago.
RE21 has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, RE21 has a worse debt to assets ratio.
RE21.DE Yearly Shares OutstandingRE21.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
RE21.DE Yearly Total Debt VS Total AssetsRE21.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

RE21 has an Altman-Z score of 1.28. This is a bad value and indicates that RE21 is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.28, RE21 is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
RE21 has a Debt/Equity ratio of 1.00. This is a neutral value indicating RE21 is somewhat dependend on debt financing.
The Debt to Equity ratio of RE21 (1.00) is better than 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 1
Debt/FCF N/A
Altman-Z 1.28
ROIC/WACC0.86
WACC5.33%
RE21.DE Yearly LT Debt VS Equity VS FCFRE21.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

RE21 has a Current Ratio of 1.18. This is a normal value and indicates that RE21 is financially healthy and should not expect problems in meeting its short term obligations.
RE21 has a better Current ratio (1.18) than 81.25% of its industry peers.
A Quick Ratio of 1.14 indicates that RE21 should not have too much problems paying its short term obligations.
The Quick ratio of RE21 (1.14) is better than 81.25% of its industry peers.
Industry RankSector Rank
Current Ratio 1.18
Quick Ratio 1.14
RE21.DE Yearly Current Assets VS Current LiabilitesRE21.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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3

3. Growth

3.1 Past

The earnings per share for RE21 have decreased strongly by -46.21% in the last year.
RE21 shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -12.56% yearly.
RE21 shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -22.76%.
Measured over the past years, RE21 shows a decrease in Revenue. The Revenue has been decreasing by -4.50% on average per year.
EPS 1Y (TTM)-46.21%
EPS 3Y-18.58%
EPS 5Y-12.56%
EPS Q2Q%-124.48%
Revenue 1Y (TTM)-22.76%
Revenue growth 3Y-6.54%
Revenue growth 5Y-4.5%
Sales Q2Q%-55.48%

3.2 Future

Based on estimates for the next years, RE21 will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.39% on average per year.
Based on estimates for the next years, RE21 will show a small growth in Revenue. The Revenue will grow by 6.28% on average per year.
EPS Next Y4.33%
EPS Next 2Y10.65%
EPS Next 3Y11.29%
EPS Next 5Y9.39%
Revenue Next Year-2.13%
Revenue Next 2Y2.87%
Revenue Next 3Y3.42%
Revenue Next 5Y6.28%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
RE21.DE Yearly Revenue VS EstimatesRE21.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B 2.5B
RE21.DE Yearly EPS VS EstimatesRE21.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5

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1

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 24.64, RE21 is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of RE21 indicates a slightly more expensive valuation: RE21 is more expensive than 68.75% of the companies listed in the same industry.
RE21 is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 29.35, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 17.94 indicates a rather expensive valuation of RE21.
Based on the Price/Forward Earnings ratio, RE21 is valued a bit more expensive than 62.50% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, RE21 is valued at the same level.
Industry RankSector Rank
PE 24.64
Fwd PE 17.94
RE21.DE Price Earnings VS Forward Price EarningsRE21.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

68.75% of the companies in the same industry are cheaper than RE21, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.53
RE21.DE Per share dataRE21.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)5.69
PEG (5Y)N/A
EPS Next 2Y10.65%
EPS Next 3Y11.29%

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4

5. Dividend

5.1 Amount

RE21 has a Yearly Dividend Yield of 3.83%.
Compared to an average industry Dividend Yield of 4.71, RE21 is paying slightly less dividend.
RE21's Dividend Yield is rather good when compared to the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 3.83%

5.2 History

The dividend of RE21 has a limited annual growth rate of 1.50%.
Dividend Growth(5Y)1.5%
Div Incr Years1
Div Non Decr Years2
RE21.DE Yearly Dividends per shareRE21.DE Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

155.39% of the earnings are spent on dividend by RE21. This is not a sustainable payout ratio.
The dividend of RE21 is growing, but earnings are growing more, so the dividend growth is sustainable.
DP155.39%
EPS Next 2Y10.65%
EPS Next 3Y11.29%
RE21.DE Yearly Income VS Free CF VS DividendRE21.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B
RE21.DE Dividend Payout.RE21.DE Dividend Payout, showing the Payout Ratio.RE21.DE Dividend Payout.PayoutRetained Earnings

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REDEIA CORP SA

FRA:RE21 (3/7/2025, 7:00:00 PM)

17

-0.18 (-1.05%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)02-26 2025-02-26/amc
Earnings (Next)N/A N/A
Inst Owners32.54%
Inst Owner ChangeN/A
Ins Owners5%
Ins Owner ChangeN/A
Market Cap9.20B
Analysts73.04
Price Target19.03 (11.94%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.83%
Yearly Dividend1.06
Dividend Growth(5Y)1.5%
DP155.39%
Div Incr Years1
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-24.23%
Min Revenue beat(2)-45.83%
Max Revenue beat(2)-2.63%
Revenue beat(4)0
Avg Revenue beat(4)-14.78%
Min Revenue beat(4)-45.83%
Max Revenue beat(4)-2.63%
Revenue beat(8)1
Avg Revenue beat(8)-5.1%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.31%
PT rev (3m)-2.01%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.82%
EPS NY rev (3m)-1.62%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-7.9%
Revenue NY rev (3m)-9.11%
Valuation
Industry RankSector Rank
PE 24.64
Fwd PE 17.94
P/S 5.77
P/FCF N/A
P/OCF 9.63
P/B 1.78
P/tB 1.97
EV/EBITDA 12.53
EPS(TTM)0.69
EY4.06%
EPS(NY)0.95
Fwd EY5.57%
FCF(TTM)-0.23
FCFYN/A
OCF(TTM)1.77
OCFY10.39%
SpS2.95
BVpS9.53
TBVpS8.62
PEG (NY)5.69
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.44%
ROE 7.15%
ROCE 5.86%
ROIC 4.57%
ROICexc 4.95%
ROICexgc 5.18%
OM 44.44%
PM (TTM) 23.11%
GM 102.4%
FCFM N/A
ROA(3y)3.9%
ROA(5y)4.28%
ROE(3y)11.26%
ROE(5y)14.12%
ROIC(3y)5.4%
ROIC(5y)6%
ROICexc(3y)5.94%
ROICexc(5y)6.62%
ROICexgc(3y)6.37%
ROICexgc(5y)7.12%
ROCE(3y)6.92%
ROCE(5y)7.7%
ROICexcg growth 3Y-15.65%
ROICexcg growth 5Y-10.59%
ROICexc growth 3Y-14.67%
ROICexc growth 5Y-10.02%
OM growth 3Y-3.37%
OM growth 5Y-3.68%
PM growth 3Y-12.8%
PM growth 5Y-8.28%
GM growth 3Y0.16%
GM growth 5Y0.22%
F-Score6
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 1
Debt/FCF N/A
Debt/EBITDA 4.39
Cap/Depr 233.63%
Cap/Sales 67.66%
Interest Coverage 5.71
Cash Conversion 81.66%
Profit Quality N/A
Current Ratio 1.18
Quick Ratio 1.14
Altman-Z 1.28
F-Score6
WACC5.33%
ROIC/WACC0.86
Cap/Depr(3y)169.97%
Cap/Depr(5y)143.18%
Cap/Sales(3y)48.95%
Cap/Sales(5y)40.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-46.21%
EPS 3Y-18.58%
EPS 5Y-12.56%
EPS Q2Q%-124.48%
EPS Next Y4.33%
EPS Next 2Y10.65%
EPS Next 3Y11.29%
EPS Next 5Y9.39%
Revenue 1Y (TTM)-22.76%
Revenue growth 3Y-6.54%
Revenue growth 5Y-4.5%
Sales Q2Q%-55.48%
Revenue Next Year-2.13%
Revenue Next 2Y2.87%
Revenue Next 3Y3.42%
Revenue Next 5Y6.28%
EBIT growth 1Y-23.31%
EBIT growth 3Y-9.69%
EBIT growth 5Y-8.02%
EBIT Next Year80%
EBIT Next 3Y28.93%
EBIT Next 5Y19.22%
FCF growth 1Y73.51%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y94.27%
OCF growth 3Y-15.88%
OCF growth 5Y-1.78%