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STOCK COMPARISON

Enel SpA vs Iberdrola S.A.: Fair Value & Quality

Both stocks run through our valuation models. Here is how Enel SpA (ENEL) and Iberdrola S.A. (IBE) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Enel SpA as the less overvalued of the two: Enel SpA trades at €9.07 versus a fair value of €8.68 (-4%), while Iberdrola S.A. trades at €19.89 versus €8.45 (-58%).
Enel SpA
ENEL.MI · EUR · Utilities
-4%
upside to fair value
fairly valued
Price€9.07
Fair Value€8.68
Quality46/100
Iberdrola S.A.
IBE.MC · EUR · Utilities
-58%
upside to fair value
overvalued
Price€19.89
Fair Value€8.45
Quality44/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Enel SpAIberdrola S.A.
Valuation
23.4×P/E (TTM)26.2×
1.43×P/S (TTM)3.68×
3.54×P/B3.20×
7.9×EV/EBITDA14.3×
0.91×PEG3.50×
−4.3%Fair value upside−57.5%
5.4%Dividend yield3.5%
€0.49Dividend per share€0.69
Profitability
18%Operating margin22%
0.29×EBIT margin trend (5Y)1.35×
12%Return on equity10%
5%Return on assets4%
Growth
9%Revenue growth (YoY)-5%
-22.1%Avg. growth/yr (3Y)-5.5%
1.0%Avg. growth/yr (5Y)6.6%
+9.6%Value creation/yr+14.4%
Balance & size
1.3×Interest coverage (EBIT/interest)2.4×
1.70×Debt / equity0.84×
$114BMarket cap$160B
weakGrowth qualityweak

Iberdrola S.A. leads: 7 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Enel SpAof which business quality 42 · market factors 61 Iberdrola S.A.of which business quality 42 · market factors 73
ProfitabilityMargins and returns on capital today
34
35
Quality GrowthAre margins and returns improving?
23
43
CashflowEarnings quality: real cash, not paper profit
53
39
Fin. StrengthBalance sheet, leverage, solvency risk
6
29
InvestmentDisciplined investing over empire-building
71
59
Low VolatilityCalm price path (market factor)
79
97
MomentumPrice trend over the last 3–12 months (market factor)
50
57
52W MomentumDistance to the 52-week high (market factor)
60
72
Net IssuanceBuybacks instead of dilution
90
64

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyEnel SpAPrice €9.07Iberdrola S.A.Price €19.89
DCF Models-83%below the price€1.54-62%below the price€7.63
Earnings-Based-59%below the price€3.71-57%below the price€8.64
Dividend Discount-30%below the price€6.33-85%below the price€3.06
Multiples-20%below the price€7.24-16%below the price€16.73
Asset-Based-76%below the price€2.17-74%below the price€5.10
Growth DCF-94%below the price€0.54-60%below the price€7.98
Economic Profit-60%below the price€3.67-55%below the price€8.89
Growth Earnings-36%below the price€5.83-27%below the price€14.45
Minimum-94%below the price€0.54-85%below the price€3.06
Maximum-20%below the price€7.24-16%below the price€16.73
Median-59%below the price€3.69-58%below the price€8.31
Geometric mean-67%below the price€3.00-60%below the price€8.05

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Enel SpA: 19 of 19 models see the stock below the current price.

Iberdrola S.A.: 23 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Enel SpA
Bear €7.34Fair Value €8.68Bull €9.61
€9.07 = current price (white tick)
Iberdrola S.A.
Bear €7.06Fair Value €8.45Bull €17.90
€19.89 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Enel SpA · Utilities

Quality score46 · below median
Fair value upside-4% · above median

Iberdrola S.A. · Utilities

Quality score44 · below median
Fair value upside-58% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Enel SpA as the less overvalued of the two: Enel SpA trades at €9.07 versus a fair value of €8.68 (-4%), while Iberdrola S.A. trades at €19.89 versus €8.45 (-58%).

Enel SpA has the higher quality score (46/100).

See the full analysis →
Enel SpA · Iberdrola S.A.

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.