Grenergy Renovables S.A (ES:GRE)
BME:GRE
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Grenergy Renovables S.A
(BME:GRE)
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Rating:50Neutral
Price Target:
€110.00
▼(-4.68% Downside)
Action:Reiterated
Date:05/28/26
The score is held back primarily by weak financial quality—sharp deterioration in operating cash flow, deeply negative free cash flow, and materially higher leverage—despite strong revenue growth. Technicals are supportive but appear overextended, and valuation (P/E ~28) offers limited cushion without a dividend.
Positive Factors
Diversified renewables revenue model
Grenergy's integrated model—development, EPC/contract management, and operating assets—creates multiple durable cash and margin pathways. This vertical exposure lets the company capture development gains and recurring power sales, reducing reliance on any single revenue source over the medium term.
Negative Factors
Weak cash generation
Sharp deterioration in operating cash flow and very negative free cash flow signal the company is consuming cash to fund growth and capex. This lasting weakness increases dependency on external funding, constrains reinvestment ability, and raises refinancing and liquidity risk across the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified renewables revenue model
Grenergy's integrated model—development, EPC/contract management, and operating assets—creates multiple durable cash and margin pathways. This vertical exposure lets the company capture development gains and recurring power sales, reducing reliance on any single revenue source over the medium term.
Read all positive factors
Grenergy Renovables S.A (GRE) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€3.01B
Dividend YieldN/A
Average Volume (3M)58.28K
Price to Earnings (P/E)54.3
Beta (1Y)0.17
Revenue Growth-12.25%
EPS Growth-32.76%
CountryES
Employees625
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.29
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 Upside26.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)3.55
Revenue Forecast (FY)€796.20M
Grenergy Renovables S.A Business Overview & Revenue Model
Company Description
Grenergy Renovables, S.A. functions as an independent producer of energy, organized into three core divisions: Development and Construction, Energy, and Services. The company excels in the comprehensive lifecycle of renewable energy initiatives, e...
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
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
Negative
115.40
Price Trends
121.80
Negative
113.91
Negative
94.89
Positive
Market Momentum
-2.76
Positive
34.13
Neutral
13.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:GRE, the sentiment is Negative. The current price of 115.4 is below the 20-day moving average (MA) of 121.89, below the 50-day MA of 121.80, and above the 200-day MA of 94.89, indicating a neutral trend. The MACD of -2.76 indicates Positive momentum. The RSI at 34.13 is Neutral, neither overbought nor oversold. The STOCH value of 13.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:GRE.
Grenergy Renovables S.A Peers Comparison
UnderperformOutperform
Sector (63)
ES:GRE
Grenergy Renovables S.A
109.80
50.30
84.54%
ES:UBS
Urbas Grupo Financiero, S.A.
0.01
0.00
0.00%
ES:GSJ
Grupo Empresarial San Jose, S.A.
9.00
2.97
49.25%
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.