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Grenergy Renovables S.A
(BME:GRE)
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Rating:44Neutral
Price Target:
€93.00
▼(-7.92% Downside)
Action:Reiterated
Date:07/31/26
Overall score is pressured mainly by financial risk: consistently negative free cash flow (about -565M TTM) and high leverage (debt-to-equity ~3.93) reduce flexibility despite decent margins. Technically, the stock trades below its 20/50/100/200-day moving averages, reinforcing a weak trend. Valuation is also a headwind with a high P/E (47.265) and no dividend yield data to offset it.
Positive Factors
Integrated project lifecycle
Grenergy’s end-to-end model (origination, permitting, financing, EPC and operations) creates durable competitive advantages. By capturing development margins, retaining recurring electricity and O&M revenues, and controlling execution, the company can monetize projects at multiple stages and reduce third-party execution risk over the medium term.
Negative Factors
Very high leverage
Extremely high leverage materially reduces financial flexibility and raises refinancing and covenant risk over the medium term. In a capital‑intensive renewables business, elevated debt levels amplify sensitivity to delays in project monetization or higher interest rates, potentially forcing asset sales or dilutive financing if cash flows weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated project lifecycle
Grenergy’s end-to-end model (origination, permitting, financing, EPC and operations) creates durable competitive advantages. By capturing development margins, retaining recurring electricity and O&M revenues, and controlling execution, the company can monetize projects at multiple stages and reduce third-party execution risk over the medium term.
Read all positive factors
Grenergy Renovables S.A (GRE) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€2.55B
Dividend YieldN/A
Average Volume (3M)58.28K
Price to Earnings (P/E)46.7
Beta (1Y)0.19
Revenue Growth-12.25%
EPS Growth-32.76%
CountryES
Employees640
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.00
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
€146.33Price Target Upside44.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)3.58
Revenue Forecast (FY)€824.14M
Grenergy Renovables S.A Business Overview & Revenue Model
Company Description
Grenergy Renovables, S.A., together with its subsidiaries, engages in the renewable energy business in Spain, Italy, the United Kingdom, Poland, Germany, Romania, Chile, Peru, Colombia, Argentina, Mexico, and the Unites States. It operates through...
How the Company Makes Money
Grenergy makes money primarily through (1) selling electricity generated by its renewable assets and (2) monetizing its project pipeline through asset sales/rotations.
1) Electricity sales from operating assets: Once solar PV plants (and, where a...
Grenergy Renovables S.A Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
44
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 685.70M | 1.07B | 531.58M | 179.14M | 110.58M | 82.51M |
| Gross Profit | 128.14M | 192.40M | 192.04M | 144.26M | 79.65M | 55.05M |
| EBITDA | 149.91M | 201.20M | 143.97M | 105.31M | 50.15M | 34.92M |
| Net Income | 56.83M | 87.00M | 59.82M | 51.07M | 10.30M | 16.31M |
Balance Sheet | ||||||
| Total Assets | 2.43B | 2.16B | 1.88B | 1.27B | 886.98M | 604.81M |
| Cash, Cash Equivalents and Short-Term Investments | 450.60M | 348.60M | 375.02M | 122.03M | 117.64M | 76.63M |
| Total Debt | 1.68B | 1.46B | 1.01B | 752.21M | 502.73M | 333.67M |
| Total Liabilities | 2.01B | 1.75B | 1.40B | 922.61M | 642.17M | 446.10M |
| Stockholders Equity | 427.30M | 415.30M | 473.98M | 343.97M | 245.05M | 159.32M |
Cash Flow | ||||||
| Free Cash Flow | -565.37M | -612.35M | -298.07M | -333.11M | -151.58M | -184.43M |
| Operating Cash Flow | 51.61M | 37.84M | 350.72M | 33.23M | 38.40M | 13.73M |
| Investing Cash Flow | -498.55M | -450.07M | -301.29M | -268.71M | -199.24M | -200.63M |
| Financing Cash Flow | 676.81M | 377.39M | 219.07M | 254.28M | 199.74M | 235.32M |
Grenergy Renovables S.A Peers Comparison
UnderperformOutperform
Sector (63)
ES:GRE
Grenergy Renovables S.A
92.00
29.00
46.03%
ES:UBS
Urbas Grupo Financiero, S.A.
0.01
0.00
0.00%
ES:GSJ
Grupo Empresarial San Jose, S.A.
7.92
0.87
12.32%
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.