Independent equity research
Is Iberdrola, S.A. (IBE) a Buy, Hold or Sell?
Iberdrola, S.A. — our independent, AI-built valuation and rating, in brief.
HOLD
12-mo fair value
€19.64
To fair value
−3%
By · report dated 2026-09-05 · fair value derived independently of the market price.
The thesis, in brief
At 18.4x 2027E consensus EPS - a 41pct premium to the European utility median - Iberdrola's 11pct RAB growth is fully paid for, and FFO to adjusted net debt has fallen from 25.5pct to 22.4pct in six months; we are wrong if 2026 net profit growth beats 10pct and FFO/net debt holds above 22pct through Caruna
How we value it
We value Iberdrola, S.A. using 50pct three-stage DDM at 7.18pct cost of equity, 25pct 17.5x 2027E P/E, 25pct networks-plus-power SOTP. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalization
- ROTCE vs cost of equity
- Balance-sheet safety & capital (CET1)
- P/TBV + excess-return / residual-income
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full Iberdrola, S.A. report
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