E.ON SE (EOAN) Fair Value & Analysis
Utilities · DE · Market cap €50.9B · ISIN DE000ENAG999
What is E.ON SE really worth?
Below-average quality, and trading another 49% above our fair value of €11.71.
Risks
For context
Fair value as of: Aug 29, 2026
From 14 valuation models · updated 6 days ago
Share price −6.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€14.66). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €6.38 – €19.70 · fair‑value band €8.39 – €14.66 · the €17.50 price screens above the €11.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.
Analysis
E.ON SE (EOAN) currently trades at €17.50, while our model-based Fair Value estimate is €11.71, implying the stock looks roughly 49.5% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Utilities sector. Bull case: the Multiples group reads highest at a median of €11.94 per share, and 3 of the 14 models we run sit above the €17.50 price. Bear case: the Asset-Based group reads lowest at €4.94, and 11 of the 14 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, E.ON SE generated revenue of €77.0B at a net margin of 4.5%. Revenue declined 13.4% year over year. It earns a return on equity of 15.4%. Net debt stands at €37.6B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €8.39 (bear case) to €14.66 (bull case); at €17.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 12% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at −33%, EOAN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.5008 per share, which is 4.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 14 models by family
Widest divergence: Multiples (€11.94) versus Asset-Based (€4.94). Highest evidence: Residual Income (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
E.ON SE operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally. The company operates through Energy Networks, Energy Infrastructure Solutions, and Energy Retail segments.
Full company description
E.ON SE operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally. The company operates through Energy Networks, Energy Infrastructure Solutions, and Energy Retail segments. The Energy Networks segment operates power and gas distribution networks; and offers maintenance, repair, and related services for its power and gas networks. Its Energy Infrastructure Solutions provides integrated and sustainable energy solutions for cities, municipalities, and industrial and commercial customers comprising district heating and cooling; heat, steam, and electricity services; embedded solutions; products and services that enhance energy efficiency. This segment also installs smart energy meters, block-type thermal power stations, photovoltaic systems, air-conditioning systems, and heat pumps. Its Energy Retail segment supplies power and gas; installs customer connections and connects renewable energy generating stations to the grid; and offers a range of green power and green gas, and sustainable solutions that enhance energy efficiency for residential, small and medium-sized enterprises, commercial and industrial, and sales partners. It also provides digital solutions; biogas and biomethane products; and compressed natural gas refueling services, as well as solar and battery storage systems, heating systems, and charging infrastructure for electric vehicle. E.ON SE was founded in 1923 and is headquartered in Essen, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
E.ON SE reported revenue of €78.7B in FY2025 versus €77.4B in FY2021, a compound +0.4%/yr. Reported net income was €1.7B in FY2025, compounding −22.0%/yr from FY2021.
EOAN screens 49% overvalued. Compare with Iberdrola, S.A →
Peer Group
Utilities - Diversified · 52 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Iberdrola, S.A IBE | €20.28 | €8.45 | −58% |
| Enel SpA ENEL | €9.42 | €4.82 | −49% |
| Engie SA ENGI | €24.50 | €21.15 | −14% |
| Sempra SRE | $84.57 | $44.47 | −47% |
| RWE Aktiengesellschaft generates and RWE | €59.10 | €55.77 | −6% |
| ACWA Power Company 2082 | 184.00 SAR | 24.19 SAR | −87% |
| Brookfield Infrastructure Partners L.P. BIPUN | C$54.99 | C$34.34 | −38% |
| EnBW Energie Baden-Württemberg AG EBK | €68.60 | €21.11 | −69% |
| EDP, S.A EDP | €4.70 | €3.81 | −19% |
| Origin Energy Limited ORG | A$11.89 | A$7.70 | −35% |
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