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E.ON SE
🇩🇪 EOAN.XETRA · Frankfurt · DE000ENAG999
Utilities
Price at analysis: EUR 17.70 Current price: EUR 17.41 * updated every night
Scores
Key Metrics
Powered by EODHDP/E (TTM)
13.8
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Calculation: 17.70 ÷ 1.29 = 13.8
TTM period through: 2026-06-30
Forward P/E (estimated): 14.0
Based on analyst estimates
Reference: Provider P/E (Trailing): 13.3
Net Debt/EBITDA (TTM)
3.4x
Latest quarter: 23.3x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
TTM through: 2026-06-30
Latest quarter (2026-06-30): 23.3x
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
ROE
15.6%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
3.5x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
3.30% TTM
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Trailing Yield (TTM, last 12 months): 3.30%
Payout Ratio (Fwd)
44.3%
TTM: 82.9%
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Payout (Fwd): 44.3%
Payout (TTM): 82.9%
Cash Flow Payout (TTM): 20.5%
FCF Coverage (TTM): -0.65x
Growth Streak
8 yrs
Consec. increases
Div. Growth (5Y)
3.6%
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Interim | — | 24 Apr 2027 | — | EUR | 0.57 |
| Paid | Interim | 25 Feb 2026 | 24 Apr 2026 | 28 Apr 2026 | EUR | 0.57 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
Summary
E.ON SE manages critical European energy infrastructure with expanding Regulated Asset Base (RAB) tailwinds and fully resolved historical nuclear liabilities. The recent headline net loss is a temporary, non-cash accounting distortion that masks robust core operational performance, presenting an attractive entry point at a 13.77x P/E. Worth considering for new positions as a stable dividend compounder.
Sector Context
E.ON operates extensive, regulated energy distribution networks across Europe. As a utility, it provides an essential service with highly predictable, rate-payer-backed cash flows. However, the business requires massive ongoing capital expenditures, resulting in high normal debt levels and occasionally weak standard free cash flow metrics.
Temporary Opportunity Identified
The reported Q3 2025 net loss of €51 million is a non-cash accounting distortion caused by a ~€400 million loss from the deconsolidation of NEW AG. Core business operations and EBITDA continue to grow.
📊 Strategy Analysis
- • Underlying operational strength remains robust with 9M 2025 adjusted EBITDA growing 10% to €7.4 billion and net income rising 4% to €2.3 billion.
- • Highly attractive valuation for a regulated utility, trading at a 13.77x TTM P/E and a 7.32x P/FFO, while offering a secure 3.30% TTM dividend yield.
- • Strong structural tailwinds from European distribution grid expansion mandates, supporting predictable Regulated Asset Base (RAB) growth.
- • Historical overhangs, such as nuclear waste storage liabilities and Nord Stream 1 impairments, have been fully and permanently resolved.
⚠ What to Watch
- • Weak free cash flow dividend coverage (-0.65x) driven by the massive, ongoing capital expenditures required for energy grid modernization.
- • Long-term structural risk of gas distribution asset stranding due to Germany's accelerated 2045 decarbonization rules and electrification mandates.
- • Ongoing regulatory constraints from BNetzA allowed return caps (~5%), which limit profitability on existing grid assets.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-10-17
Disclaimer: This information is for educational purposes only. Not financial advice.