Grenergy Renovables S.A (ES:GRE)
BME:GRE
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Grenergy Renovables S.A
(BME:GRE)
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Rating:54Neutral
Price Target:
€125.00
▲(8.32% Upside)
Action:DowngradedDate:02/28/26
The score is held back primarily by weak cash conversion and deeply negative free cash flow alongside higher leverage, which increases funding and execution risk despite strong revenue growth. Technicals are supportive with a strong uptrend, but momentum is overbought. Valuation is also on the high side (P/E ~35.8) without a dividend yield to offset risk.
Positive Factors
Accelerating revenue growth
A sustained ~30% YoY revenue increase in 2025 demonstrates successful project delivery and pipeline conversion. Durable top-line growth supports scale economies, improves negotiation leverage with suppliers and partners, and underpins medium‑term cash generation potential.
Negative Factors
Weak cash generation
Operating cash flow collapsed while free cash flow turned deeply negative (~-€612M) due to heavy project investment. Persistent negative FCF increases reliance on external funding, raises refinancing and execution risk, and limits internal capacity to sequentially finance new projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating revenue growth
A sustained ~30% YoY revenue increase in 2025 demonstrates successful project delivery and pipeline conversion. Durable top-line growth supports scale economies, improves negotiation leverage with suppliers and partners, and underpins medium‑term cash generation potential.
Read all positive factors
Grenergy Renovables S.A (GRE) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€3.36B
Dividend YieldN/A
Average Volume (3M)58.28K
Price to Earnings (P/E)28.3
Beta (1Y)0.17
Revenue Growth21.80%
EPS Growth47.62%
CountryES
Employees625
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)1.48
Shares Outstanding28,579,733
10 Day Avg. Volume41,243
30 Day Avg. Volume58,282
Financial Highlights & Ratios
PEG Ratio0.64
Price to Book (P/B)5.93
Price to Sales (P/S)2.30
P/FCF Ratio-4.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€125.50Price Target Upside8.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.73
Revenue Forecast (FY)€851.62M
Grenergy Renovables S.A Business Overview & Revenue Model
Company Description
Grenergy Renovables, S.A., together with its subsidiaries, operates as an independent energy producer. The company operates through Development and Construction, Energy, and Services divisions. It designs, develops, constructs, and operates photov...
How the Company Makes Money
Grenergy makes money mainly by monetizing renewable energy projects across their lifecycle. Key revenue streams typically include: (1) Energy sales from owned and operated assets: when Grenergy retains ownership of solar PV plants (and, where appl...
Grenergy Renovables S.A Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
42
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 823.38M | 1.07B | 531.58M | 179.14M | 110.58M | 82.51M |
| Gross Profit | 208.78M | 192.40M | 192.04M | 144.26M | 79.65M | 55.05M |
| EBITDA | 192.55M | 201.20M | 143.97M | 105.31M | 50.15M | 34.92M |
| Net Income | 94.33M | 87.00M | 59.82M | 51.07M | 10.30M | 16.31M |
Balance Sheet | ||||||
| Total Assets | 1.93B | 2.16B | 1.88B | 1.27B | 886.98M | 604.81M |
| Cash, Cash Equivalents and Short-Term Investments | 300.10M | 348.60M | 375.02M | 122.03M | 117.64M | 76.63M |
| Total Debt | 1.17B | 1.46B | 1.01B | 752.21M | 502.73M | 333.67M |
| Total Liabilities | 1.54B | 1.75B | 1.40B | 922.61M | 642.17M | 446.10M |
| Stockholders Equity | 391.87M | 415.30M | 473.98M | 343.97M | 245.05M | 159.32M |
Cash Flow | ||||||
| Free Cash Flow | -354.26M | -612.35M | -298.07M | -333.11M | -151.58M | -184.43M |
| Operating Cash Flow | 328.59M | 37.84M | 350.72M | 33.23M | 38.40M | 13.73M |
| Investing Cash Flow | -385.27M | -450.07M | -301.29M | -268.71M | -199.24M | -200.63M |
| Financing Cash Flow | 255.89M | 377.39M | 219.07M | 254.28M | 199.74M | 235.32M |
Grenergy Renovables S.A Technical Analysis
Positive
115.40
Price Trends
109.20
Positive
96.10
Positive
82.31
Positive
Market Momentum
3.61
Positive
51.45
Neutral
53.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:GRE, the sentiment is Positive. The current price of 115.4 is above the 20-day moving average (MA) of 115.31, above the 50-day MA of 109.20, and above the 200-day MA of 82.31, indicating a bullish trend. The MACD of 3.61 indicates Positive momentum. The RSI at 51.45 is Neutral, neither overbought nor oversold. The STOCH value of 53.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:GRE.
Grenergy Renovables S.A Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | €3.08B | 7.29 | 19.85% | ― | 60.51% | 57.02% | |
62 Neutral | €2.81B | 10.84 | 29.15% | ― | 45.25% | 74.23% | |
60 Neutral | €12.96B | 12.61 | 18.00% | 2.87% | 5.45% | 90.20% | |
54 Neutral | €3.36B | 28.28 | 21.09% | ― | 21.80% | 47.62% | |
48 Neutral | €570.05M | -4.63 | -5.36% | 4.84% | -14.71% | -272.60% | |
41 Neutral | €431.39M | 8.29 | ― | ― | -78.63% | 92.79% |
* Industrials Sector Average
ES:GRE
Grenergy Renovables S.A
122.80
73.70
150.10%
ES:ANA
Acciona
242.20
119.00
96.60%
ES:ENC
ENCE Energia y Celulosa
2.34
-0.62
-21.02%
ES:SLR
Solaria Energia y Medio Ambiente
25.31
18.47
270.14%
ES:TRE
Tecnicas Reunidas
35.32
20.75
142.42%
ES:SOL
Soltec Power Holdings SA
0.96
-0.79
-45.08%
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.