Terna S.p.A. (TRN) AI Stock Analysis

• Market Cap: €20.73B
• Dividend Yield: 4.41%
• Average Volume (3M): 3.58M
• Price to Earnings (P/E): 16.4
• Beta (1Y): 0.32
• Revenue Growth: 10.18%
• EPS Growth: 8.43%
• Country: IT
• Employees: 6,376
• Sector: General
• Sector Strength: N/A
• Industry: Regulated Electric
• EPS (TTM): 0.13
• Shares Outstanding: 2,009,992,000
• 10 Day Avg. Volume: 3,751,325
• 30 Day Avg. Volume: 3,582,329
• PEG Ratio: 0.71
• Price to Book (P/B): 2.04
• Price to Sales (P/S): 4.20
• P/FCF Ratio: -13.25
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €9.49
• Price Target Upside: -8.04% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 10
• EPS Forecast (FY): 0.54
• Revenue Forecast (FY): €4.36B

• Rating: 72 Outperform
• Price Target: €10.50 ▲(1.74% Upside)
• Action: Reiterated Date: 09/24/25
• Date: Action: Reiterated 09/24/25

Terna S.p.A. receives a solid score driven by strong financial performance, characterized by robust revenue growth and profitability. The valuation is reasonable with an attractive dividend yield. Technical analysis presents mixed signals, indicating a neutral market sentiment. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Regulated revenue model

Terna's revenues are derived from a regulated tariff framework set by the Italian authority, providing predictable, contract-like cash flows. This structural stability reduces demand cyclicality, supports long-term investment planning, and underpins reliable funding for grid modernization over multi-year horizons.

Negative Factors

High leverage

A debt-to-equity ratio near 1.84 signals meaningful leverage common in utilities but raises sensitivity to interest rates and refinancing cycles. Elevated leverage can constrain strategic flexibility, increase funding costs on adverse market moves, and amplify downside in stress scenarios over the medium term.

Terna S.p.A. Business Overview & Revenue Model

Company Description

Terna - Rete Elettrica Nazionale Società per Azioni, together with its subsidiaries, engages in the electricity transmission and dispatching activities in Italy, Euro-area countries, and internationally. The company operates through Regulated, Non...

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Terna - Rete Elettrica Nazionale Società per Azioni, together with its subsidiaries, engages in the electricity transmission and dispatching activities in Italy, Euro-area countries, and internationally. The company operates through Regulated, Non...

How the Company Makes Money

Terna generates revenue primarily through the transmission of electricity over its high-voltage grid, charging fees to electricity producers and distributors for the use of its infrastructure. The company earns significant income from regulated ta...

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Terna generates revenue primarily through the transmission of electricity over its high-voltage grid, charging fees to electricity producers and distributors for the use of its infrastructure. The company earns significant income from regulated ta...

Terna S.p.A. Financial Statement Overview

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.87B	3.65B	3.15B	2.92B	2.57B	2.40B
Gross Profit	1.74B	3.34B	2.58B	2.42B	2.16B	2.06B
EBITDA	2.08B	2.58B	2.11B	2.07B	1.87B	1.80B
Net Income	1.10B	1.06B	885.40M	857.00M	789.40M	785.50M
Balance Sheet
Total Assets	28.08B	27.19B	23.47B	22.83B	22.39B	20.70B
Cash, Cash Equivalents and Short-Term Investments	2.83B	2.74B	1.74B	2.41B	2.55B	3.31B
Total Debt	14.75B	13.86B	12.98B	11.76B	12.42B	12.34B
Total Liabilities	20.55B	19.64B	17.10B	16.63B	17.60B	16.28B
Stockholders Equity	7.51B	7.52B	6.32B	5.15B	4.68B	4.37B
Cash Flow
Free Cash Flow	-1.37B	-1.16B	-963.90M	831.40M	-511.90M	-245.20M
Operating Cash Flow	695.70M	1.47B	1.08B	2.32B	832.30M	941.40M
Investing Cash Flow	-2.40B	-2.40B	-2.33B	-1.86B	-863.30M	-1.39B
Financing Cash Flow	1.07B	1.87B	464.30M	92.50M	-1.05B	2.08B

Terna S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:TRN, the sentiment is Positive. The current price of 10.32 is above the 20-day moving average (MA) of 9.87, above the 50-day MA of 9.79, and above the 200-day MA of 8.96, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 66.05 is Neutral, neither overbought nor oversold. The STOCH value of 91.47 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:TRN.

Terna S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TRN	72 Outperform	€20.73B	16.37	14.70%	4.41%	10.18%	8.43%
ENEL	63 Neutral	€100.20B	22.77	23.22%	5.05%	-3.10%	26.28%
IG	63 Neutral	€10.73B	4.81	―	4.05%	-3.34%	8.88%
IRE	61 Neutral	€3.36B	23.79	9.06%	5.06%	10.48%	9.06%
HER	56 Neutral	€6.10B	8.70	13.30%	3.76%	15.98%	19.01%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

Terna S.p.A. Corporate Events