Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
EnBW Energie Baden-Württemberg AG is a publicly traded integrated energy company headquartered in Karlsruhe, Germany, serving as one of the largest players in the German and European energy markets. Its core business encompasses the full value chain of energy, from generating electricity and heat via renewable sources like offshore and onshore wind farms, solar parks, and hydropower, to conventional plants including coal and gas, while phasing out nuclear and coal operations. The company trades energy products, operates extensive transmission and distribution grids through subsidiaries like TransnetBW and Netze BW, and supplies electricity, gas, water, district heating, and telecommunications to around 5.5 million customers. EnBW drives the energy transition with ambitious goals, including net-zero CO₂ emissions by 2040 and massive investments in renewables, aiming for over 4,000 MW in wind capacity by 2025. It leads in electromobility with Germany's largest fast-charging network and expands internationally in countries like Sweden, France, Turkey, and Austria through subsidiaries and joint ventures focused on wind, solar, and green hydrogen initiatives. This holistic approach positions EnBW as a key infrastructure partner, ensuring secure supply amid decarbonization efforts.
Operating margin is thin at 7.57%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 22.3% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -€2.86B. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€35.58B
▼ -22.3% YoY
Net Income (TTM)
€1.44B
▼ -0.4% YoY
Op. Margin
7.14%
▲ +2.1pp YoY
ROIC
5.12%
▼ -0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€1.00B
▲ +18.3% YoY
Op. Cash Flow (TTM)
€2.58B
▲ +101.0% YoY
Net Debt
€10.94B
Cash & Equiv.
€8.44B
3Y CAGR: +2.4%
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