E.ON SE (EONGY)
OTHER OTC:EONGY
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EON SE
(OTC:EONGY)
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Rating:54Neutral
Price Target:
$24.00
▲(33.41% Upside)
Action:ReiteratedDate:02/27/26
The score is held back most by weaker recent profitability, elevated leverage, and persistently negative free cash flow. Support comes from a strong technical uptrend and a generally constructive earnings outlook, though near-term regulatory and refinancing uncertainties and overbought technical signals limit upside.
Positive Factors
Network-focused multi-year CapEx plan
A materially larger, network-heavy CapEx envelope creates durable, regulated asset growth (RAB) and predictable cash flows. Sustained investment in grids should drive stable network returns and underlying EBITDA growth over the next 5+ years, anchoring long-term earnings.
Negative Factors
Negative free cash flow and elevated leverage
Persistent negative free cash flow paired with a debt-heavy structure reduces financial flexibility. Over time this constrains the company's ability to self-fund growth or absorb shocks, increasing reliance on external financing and amplifying refinancing and interest-rate risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Network-focused multi-year CapEx plan
A materially larger, network-heavy CapEx envelope creates durable, regulated asset growth (RAB) and predictable cash flows. Sustained investment in grids should drive stable network returns and underlying EBITDA growth over the next 5+ years, anchoring long-term earnings.
Read all positive factors
EON SE (EONGY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$59.36B
Dividend Yield3.27%
Average Volume (3M)28.44K
Price to Earnings (P/E)25.3
Beta (1Y)-0.02
Revenue Growth1.94%
EPS Growth65.73%
CountryUS
Employees69,668
SectorUtilities
Sector Strength65
IndustryDiversified Utilities
Share Statistics
EPS (TTM)0.33
Shares Outstanding2,641,318,800
10 Day Avg. Volume28,321
30 Day Avg. Volume28,440
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)2.19
Price to Sales (P/S)0.56
P/FCF Ratio-46.80
Enterprise Value/Market Cap1.50
Enterprise Value/Revenue1.13
Enterprise Value/Gross Profit4.84
Enterprise Value/Ebitda10.12
Forecast
1Y Price Target
$21.40Price Target Upside18.95% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.25
Revenue Forecast (FY)$95.66B
EON SE Business Overview & Revenue Model
Company Description
E.ON SE operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, Belgium, rest of Europe, and internationally. It operates through two segments, Energy Networks and Customer Solutions. The Energy Networks segment oper...
How the Company Makes Money
EON SE generates revenue primarily through the sale of electricity and gas to residential, commercial, and industrial customers. The company's revenue model includes several key streams: the generation of electricity from its renewable energy asse...
EON SE Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call highlighted strong financial delivery for 2025 (adjusted EBITDA EUR 9.8bn, adjusted net income EUR 3.0bn), accelerated investments (EUR 8.5bn, +13% YoY), clear operational achievements (2 million connected renewables, digital efficiency gains) and an upgraded 5‑year CapEx envelope to EUR 48bn with a constructive 2030 growth outlook (>6% CAGR). However, the company faces meaningful near-term headwinds from unresolved regulatory details in Germany (RP5/OpEx/benchmarking), elevated refinancing costs, one-off charges (~EUR 300m) and regional grid capacity constraints. Overall, operational momentum, balance-sheet strength and clear growth optionality outweigh the regulatory and refinancing uncertainties, but the pace of future CapEx acceleration remains contingent on regulatory clarity.Positive Updates
Ambitious 2030 Earnings Outlook
Outlook to 2030: >6% average annual earnings growth; adjusted EBITDA targeted around EUR 13 billion by 2030 and adjusted net income ~EUR 3.8 billion.
Negative Updates
Regulatory Uncertainty in Germany (RP5 / OpEx)
Key RP5 parameters and OpEx adjustment factor remain unresolved; lack of clarity on regulatory parameters (allowed return, benchmarking, OpEx treatment) restricts ability to further raise CapEx and quantify upside; timing remains path-dependent.
Read all updates
Q4-2025 Updates
Positive
Negative
Ambitious 2030 Earnings Outlook
Outlook to 2030: >6% average annual earnings growth; adjusted EBITDA targeted around EUR 13 billion by 2030 and adjusted net income ~EUR 3.8 billion.
Read all positive updates
Company Guidance
E.ON’s guidance: for 2026 the group targets adjusted EBITDA of EUR 9.4–9.6bn and adjusted net income of EUR 2.7–2.9bn, while looking to 2030 it expects >6% p.a. underlying earnings growth to around EUR 13bn adjusted EBITDA and ~EUR 3.8bn adjusted net income; the 5‑year CapEx envelope for 2026–2030 was raised from EUR 43bn to EUR 48bn (≈EUR 10bn/yr from 2027), with ~EUR 40bn earmarked for Energy Networks and ~EUR 5bn for Energy Infrastructure Solutions, and the group retains balance‑sheet capacity of EUR 5–10bn plus optionality to invest an additional EUR 1.5–2bn/yr pending RP5; 2025 actuals included adjusted EBITDA EUR 9.8bn and adjusted net income EUR 3.0bn (upper end of guidance), group CapEx EUR 8.5bn (+13% YoY) with network investments ~EUR 7bn, underlying EBITDA ~EUR 9.5bn after ~EUR 300m one‑offs, economic net debt ~EUR 43.2bn (debt factor 4.4), operating cash flow EUR 3.6bn, 100% cash conversion, and a dividend growth commitment of up to 5% p.a.EON SE Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 75.60B | 80.12B | 95.02B | 115.66B | 77.36B |
| Gross Profit | 8.75B | 22.64B | 30.76B | 8.16B | 45.00M |
| EBITDA | 9.15B | 13.83B | 6.00B | 7.00B | 11.09B |
| Net Income | 1.67B | 4.53B | 517.00M | 1.83B | 4.69B |
Balance Sheet | |||||
| Total Assets | 116.36B | 111.36B | 113.51B | 134.01B | 119.76B |
| Cash, Cash Equivalents and Short-Term Investments | 4.35B | 7.02B | 6.96B | 8.92B | 5.23B |
| Total Debt | 41.14B | 39.06B | 35.44B | 34.15B | 34.66B |
| Total Liabilities | 89.77B | 87.19B | 93.54B | 112.14B | 101.87B |
| Stockholders Equity | 19.25B | 17.84B | 14.11B | 15.92B | 12.05B |
Cash Flow | |||||
| Free Cash Flow | -900.02M | -1.30B | -356.00M | 5.47B | -418.00M |
| Operating Cash Flow | 6.73B | 5.67B | 5.65B | 10.04B | 4.07B |
| Investing Cash Flow | -6.74B | -6.63B | -5.59B | -3.15B | -5.40B |
| Financing Cash Flow | -2.19B | 1.11B | -1.84B | -3.15B | 2.26B |
EON SE Technical Analysis
Positive
17.99
Price Trends
21.84
Positive
20.21
Positive
19.34
Positive
Market Momentum
0.14
Negative
58.16
Neutral
99.47
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EONGY, the sentiment is Positive. The current price of 17.99 is below the 20-day moving average (MA) of 22.13, below the 50-day MA of 21.84, and below the 200-day MA of 19.34, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 58.16 is Neutral, neither overbought nor oversold. The STOCH value of 99.47 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EONGY.
EON SE Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $7.96B | 6.53 | 17.23% | 12.98% | -0.38% | -53.94% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $64.03B | 31.37 | 5.82% | 2.91% | 9.07% | -28.58% | |
59 Neutral | $16.73B | 35.60 | 9.74% | 4.92% | 8.14% | ― | |
55 Neutral | $10.21B | 10.76 | 20.40% | 5.06% | -1.55% | 12.83% | |
54 Neutral | $59.36B | 25.29 | 9.46% | 3.27% | 1.94% | 65.73% |
* Utilities Sector Average
EONGY
EON SE
22.75
8.28
57.24%
BIP
Brookfield Infrastructure
36.22
10.48
40.73%
CIG
Companhia Energetica Minas Gerais
2.47
1.03
70.93%
SRE
Sempra Energy
98.01
35.99
58.03%
AES
AES
14.33
4.22
41.73%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.