Terna (TEZNY)
OTHER OTC:TEZNY
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Terna
(OTC:TEZNY)
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Rating:71Outperform
Price Target:
$35.00
▲(6.35% Upside)
Action:UpgradedDate:11/13/25
Terna's overall stock score of 71 is driven primarily by strong financial profitability and positive technical momentum, indicating a bullish trend. A reasonable valuation with an attractive dividend yield further supports the score. However, concerns over high debt levels and negative free cash flow temper the outlook, alongside mixed signals from the earnings call regarding net debt and stagnant renewable growth.
Positive Factors
Infrastructure Progress
Advancements in infrastructure projects enhance Terna's ability to meet future energy demands and support sustainable growth, strengthening its market position.
Negative Factors
Increased Net Debt
Rising net debt levels can strain financial flexibility, potentially impacting future investment capacity and increasing vulnerability to interest rate changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Infrastructure Progress
Advancements in infrastructure projects enhance Terna's ability to meet future energy demands and support sustainable growth, strengthening its market position.
Read all positive factors
Terna (TEZNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.17B
Dividend Yield3.78%
Average Volume (3M)1.44K
Price to Earnings (P/E)14.0
Beta (1Y)<0.01
Revenue Growth10.80%
EPS Growth9.07%
CountryUS
Employees6,376
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.91
Shares Outstanding669,997,300
10 Day Avg. Volume748
30 Day Avg. Volume1,441
Financial Highlights & Ratios
PEG Ratio0.70
Price to Book (P/B)2.02
Price to Sales (P/S)4.18
P/FCF Ratio-13.18
Enterprise Value/Market Cap1.42
Enterprise Value/Revenue16.07
Enterprise Value/Gross Profit18.58
Enterprise Value/Ebitda15.13
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Terna 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...
How the Company Makes Money
Terna generates revenue primarily through the regulated transmission of electricity, which involves charging fees to electricity suppliers for using its grid infrastructure. This revenue model is supplemented by income from ancillary services, whi...
Terna Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with strong financial performance, significant progress in infrastructure projects, and high procurement coverage. However, there are concerns about flat renewable contributions and increased net debt.Positive Updates
Significant Infrastructure Progress
Terna made considerable progress in grid development projects such as the Tyrrhenian Link, Central Link, and Sardinian Link, which include innovative designs and advanced technology for sustainable growth.
Negative Updates
Stagnant Renewable Energy Contribution
Renewable sources covered about 43% of national demand, remaining in line with the previous year, with no significant increase in renewable's share of total production.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Infrastructure Progress
Terna made considerable progress in grid development projects such as the Tyrrhenian Link, Central Link, and Sardinian Link, which include innovative designs and advanced technology for sustainable growth.
Read all positive updates
Company Guidance
During the call, Terna provided guidance for the full year 2025, confirming expectations of achieving revenues of EUR 4.03 billion, EBITDA of EUR 2.7 billion, and a net profit of EUR 1.08 billion. The company set a target of approximately EUR 3.4 billion in investments for the year. Despite already achieving around 80% of the full-year net income guidance in the first nine months, the guidance remains unchanged due to pending visibility on certain elements, such as dispatching incentives. The company reported a 9% increase in group revenues and a 7% rise in EBITDA for the first nine months of 2025, with group net income reaching EUR 853 million, a 5% growth compared to the same period last year. Terna's net debt stood at EUR 11.7 billion as of September 2025, with a significant portion of the 2024-'28 CapEx plan already secured with procurement contracts. The strong results were accompanied by significant progress in grid development projects like the Tyrrhenian Link and advancements in energy storage capacity, reflecting Terna's commitment to infrastructure and energy transition initiatives.Terna Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
60
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.96B | 3.65B | 3.15B | 2.92B | 2.57B | 2.40B |
| Gross Profit | 1.70B | 3.34B | 2.58B | 2.42B | 2.16B | 2.06B |
| EBITDA | 2.08B | 2.57B | 2.11B | 2.04B | 1.83B | 1.73B |
| Net Income | 829.50M | 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 | 2.76B | 1.74B | 2.41B | 2.55B | 3.31B |
| Total Debt | 14.75B | 13.86B | 12.98B | 10.81B | 12.42B | 12.59B |
| 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 | -1.36B | -2.40B | -2.33B | -1.86B | -863.30M | -1.39B |
| Financing Cash Flow | 320.67M | 1.87B | 464.30M | 92.50M | -1.05B | 2.08B |
Terna Technical Analysis
Neutral
32.91
Price Trends
33.77
Negative
32.60
Positive
31.24
Positive
Market Momentum
-0.31
Positive
42.60
Neutral
22.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TEZNY, the sentiment is Neutral. The current price of 32.91 is below the 20-day moving average (MA) of 33.96, below the 50-day MA of 33.77, and above the 200-day MA of 31.24, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 42.60 is Neutral, neither overbought nor oversold. The STOCH value of 22.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TEZNY.
Terna Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $22.17B | 14.03 | 14.70% | 3.78% | 10.80% | 9.07% | |
70 Outperform | $27.05B | 5.07 | 27.18% | 5.68% | 4.43% | 123.35% | |
67 Neutral | $28.29B | 21.95 | 8.16% | 3.13% | 8.42% | 32.48% | |
66 Neutral | $23.35B | 19.63 | 12.33% | 3.10% | 10.96% | -0.77% | |
66 Neutral | $18.68B | 3.57 | 19.07% | 0.29% | 0.52% | 111.63% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $25.38B | 14.75 | 10.71% | 4.54% | 13.12% | ― |
* Utilities Sector Average
TEZNY
Terna
33.05
6.73
25.55%
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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.