olivLaw · European equity research
Acciona SA ANA.MC
Spain · BME Madrid · ISIN ES0125220311 · Vertical: Listed companies from Spain
At the close of 04 Nov 2026, Acciona SA (ANA.MC) stock was 213.20 EUR (+1.23% on the day), with market capitalisation 11.6 bn EUR, P/E 14.5 on diluted EPS of 14.74 EUR over the last 12 months, dividend yield 2.35%, beta 0.95, 52-week range 169.10–284.40 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 53.3
- neutral
- Bollinger (20, 2)
- 202.91 – 217.21
- in the upper half of the band · %B 0.72 · band width 6.8%
- SMA 50 / 200
- 209.57 / 226.11
- mixed trend
- MACD (12, 26, 9)
- -0.54 / -0.79
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.8% | +0.4% | +1.4 pp | — |
| 3 months | +2.0% | −3.3% | +5.3 pp | — |
| 6 months | −17.4% | +4.0% | −21.4 pp | — |
| Year to date | +14.7% | +8.1% | +6.6 pp | — |
| 1 year | +7.1% | +10.7% | −3.6 pp | +3.2% |
| 3 years | +67.6% | +50.1% | +17.5 pp | +24.0% |
| 5 years | +35.8% | +43.6% | −7.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 75 percentile of its own 4-quarter history (min 12.6, median 13.8, max 21.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 11.2 bn | 17.0 bn | 19.2 bn | 20.2 bn |
| Revenue YoY | unavailable | +52.0% | +12.7% | +5.5% |
| Net income | 441.0 m | 541.0 m | 422.0 m | 803.0 m |
| Net income YoY | unavailable | +22.7% | −22.0% | +90.3% |
| Diluted EPS | 8.06 | 9.89 | 7.74 | 14.74 |
| Diluted EPS YoY | unavailable | +22.7% | −21.7% | +90.4% |
| net % | 3.9% | 3.2% | 2.2% | 4.0% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.4 bn EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 6.3 bn EUR
- Total assets
- 35.9 bn EUR
- Debt / equity
- unavailable
- Current ratio
- 1.19x
- ROE
- 12.7%
- ROA
- 2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 11.2 bn | 17.0 bn | 19.2 bn | 20.2 bn | esef· 20 Oct 2026verified |
| Operating income | 1.3 bn | 1.3 bn | 1.3 bn | 1.9 bn | esef· 20 Oct 2026verified |
| Interest expense | 256.0 m | 514.0 m | 658.0 m | 682.0 m | esef· 20 Oct 2026verified |
| Pre-tax income | 869.0 m | 819.0 m | 765.0 m | 1.4 bn | esef· 20 Oct 2026verified |
| Income tax | 254.0 m | 198.0 m | 156.0 m | 263.0 m | esef· 20 Oct 2026verified |
| Net income | 441.0 m | 541.0 m | 422.0 m | 803.0 m | esef· 20 Oct 2026verified |
| Diluted EPS | 8.06 | 9.89 | 7.74 | 14.74 | esef· 20 Oct 2026verified |
| Dividend per share | — | 4.00 | 6.11 | 5.00 | esef· 20 Oct 2026verified |
Balance sheet · EUR
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 2.4 bn | 3.7 bn | 4.2 bn | 5.4 bn | esef· 20 Oct 2026verified |
| Receivables | 3.3 bn | 4.4 bn | 4.3 bn | 4.8 bn | esef· 20 Oct 2026verified |
| Inventories | 1.4 bn | 3.1 bn | 2.7 bn | 2.6 bn | esef· 20 Oct 2026verified |
| Current assets | 8.2 bn | 13.3 bn | 14.2 bn | 15.7 bn | esef· 20 Oct 2026verified |
| Property, plant & equipment, net | 9.5 bn | 11.7 bn | 12.7 bn | 11.7 bn | esef· 20 Oct 2026verified |
| Goodwill | 249.0 m | 1.4 bn | 1.4 bn | 1.3 bn | esef· 20 Oct 2026verified |
| Intangibles (excl. goodwill) | 545.0 m | 1.6 bn | 1.5 bn | 1.5 bn | esef· 20 Oct 2026verified |
| Total assets | 22.6 bn | 31.7 bn | 34.6 bn | 35.9 bn | esef· 20 Oct 2026verified |
| Current liabilities | 7.8 bn | 12.3 bn | 14.2 bn | 13.2 bn | esef· 20 Oct 2026verified |
| Equity | 6.3 bn | 6.7 bn | 6.4 bn | 6.3 bn | esef· 20 Oct 2026verified |
| Shares outstanding at year end | 54.7 m | 54.7 m | 54.5 m | 54.5 m | esef· 20 Oct 2026derived |
Cash flow · EUR
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 1.6 bn | 1.7 bn | 2.2 bn | 2.1 bn | esef· 20 Oct 2026verified |
| Investing cash flow | -1.9 bn | -3.2 bn | -2.5 bn | -334.0 m | esef· 20 Oct 2026verified |
| Financing cash flow | 338.0 m | 2.9 bn | 760.0 m | -520.0 m | esef· 20 Oct 2026verified |
| Dividends paid | — | — | 333.0 m | 350.0 m | esef· 20 Oct 2026verified |
| Share repurchases | 1.0 m | — | 46.0 m | 0 | esef· 20 Oct 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 11.6 bn EUR
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 68.00 – 344.16 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E253.44 – 344.16 (Mid 299.00)18 companies used · median multiple 20.3x · quartiles 17.2x – 23.3xACS.MC, ADX.MC, AEDAS.MC, AENA.MC, AMS.MC, CAF.MC, CLEO.MC, CMO.MC, DESA.MC, DIA.MC, EAT.MC, EDR.MC, ELE.MC, ENER.MC, ENO.MC, FAE.MC, FCC.MC, FDR.MC
- Dividend discount (DDM)68.00 – 92.73 (Mid 78.46)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 4.0% | 43 (vs peers) | 13% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 21.8% | 100 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | 22.3% | 100 (on a fixed band) | 17% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.7x | 19 (on a fixed band) | 13% |
| Current ratio · Balance sheet | 1.2x | 32 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 14.5x | 77 (vs peers) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.0% | 43 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet24/100 · 2/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality· partial43/100 · 1/3 factors with a value
- Returns· partial43/100 · 1/2 factors with a value
- Valuation· partial77/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Acciona SA (ANA.MC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 20.2 bn EUR in 2025; YoY growth 5.5%; net margin 4.0%; ROE 16.9%.
The estimated value range is 160.72–218.44 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 188.73 EUR, the price of 213.20 EUR leaves a potential of -11.5% (value / price − 1) and a margin of safety of -13.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 21.8%
- EPS CAGR 3Y: 22.3%
- P/E (TTM): 14.5x
What contradicts it
- Interest coverage: 2.7x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Spain · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ELE.MCEndesa SA | 46.9 bn | 21.4 | 26.4% | 10.5% | +0.5% | +43% / +134% |
| AENA.MCAena S.m.e. SA | 42.4 bn | 19.8 | 24.2% | 34.0% | +8.9% | +20% / +78% |
| AMS.MCAmadeus It Group Sociedad Anonima | 26.2 bn | 19.8 | 26.9% | 20.5% | +6.1% | −6% / −5% |
| ACS.MCAcs Actividades De Construccion Y Servicios, S.A. | 22.6 bn | 23.7 | 19.9% | 1.9% | +19.7% | +10% / +142% |
| ANA.MCAcciona SA | 11.6 bn | 14.5 | 16.9% | 4.0% | +5.5% | +23% / +65% |
| FCC.MCFomento De Construcciones Y Contratas S.A. | 5.0 bn | 30.5 | 5.3% | 1.7% | +6.9% | −8% / −13% |
| FDR.MCFluidra S.A. | 3.8 bn | 21.4 | 10.9% | 7.8% | +4.1% | −17% / +5% |
| DIA.MCDistribuidora Internacional De Alimentacion SA | 2.7 bn | 20.7 | 165.6% | 2.2% | −2.7% | +52% / +383,650% |
| CMO.MCCementos Molins S.A. | 2.5 bn | 13.6 | 14.3% | 18.0% | −3.1% | +31% / unavailable |
| ENO.MCElecnor SA | 2.5 bn | 22.2 | 10.5% | 2.5% | +15.1% | −2% / +60% |
| ALM.MCAlmirall S.A. | 2.3 bn | 50.5 | 3.1% | 4.2% | +12.4% | −12% / +31% |
| FAE.MCFaes Farma SA | 1.5 bn | 19.3 | 10.8% | 13.0% | +23.7% | +3% / +57% |
| AEDAS.MCAedas Homes SA | 1.0 bn | 17.1 | 57.8% | 7.0% | −24.8% | +0% / +38% |
| EDR.MCEdreams Odigeo SA | 571.1 m | 11.4 | 21.0% | 7.8% | −0.4% | +40% / −24% |
| EAT.MCAmRest Holdings SE | 510.6 m | 31.7 | 4.3% | 0.6% | +0.1% | −34% / −61% |
| ADX.MCAudax Renovables S.A. | 489.0 m | 25.0 | 9.3% | 1.0% | −5.4% | −19% / −14% |
| ATRY.MCAtrys Health, S.A. | 199.3 m | — | -49.5% | -71.1% | +8.5% | −3% / −29% |
| ENER.MCEcoener, S.A. | 178.8 m | 32.8 | 4.2% | 6.4% | +3.6% | −32% / −4% |
| ADZ.MCAdolfo Dominguez SA | 62.4 m | 38.1 | 9.0% | 1.2% | +1.8% | +38% / +39% |
| DESA.MCDesarrollos Especiales De Sistemas De Anclaje S.A. | 49.6 m | 10.2 | 152.3% | 10.0% | +2.2% | +32% / unavailable |
| EZE.MCGrupo Ezentis SA | 30.0 m | — | — | -9.3% | +147.2% | −27% / −35% |
| CLEO.MCCompañia Levantina De Edificacion Y Obras Publicas SA | 17.3 m | 14.4 | 4.1% | 3.4% | +13.4% | unavailable / unavailable |
| AYC.MCAyco Grupo Inmobiliario, S.A. | 16.4 m | — | -33.8% | — | −100.0% | unavailable / unavailable |
| EBRO.MCEbro Foods, S.A. | 3.0 m | 0.0 | 10.0% | 7.7% | −4.0% | −0% / +19% |
| A3M.MCAtresmedia Corporacion De Medios De Comunicacion, S.A. | — | — | 7.9% | 6.9% | −2.7% | +12% / +59% |
1- and 3-year price returns: for ANA.MC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 139.32 Total return -33% · Per year -33% | 245.18 Total return 18% · Per year 18% | 367.77 Total return 76% · Per year 76% |
| 3 years | 165.25 Total return -16% · Per year -6% | 324.25 Total return 61% · Per year 17% | 529.59 Total return 160% · Per year 38% |
| 5 years | 196.02 Total return 4% · Per year 1% | 428.82 Total return 119% · Per year 17% | 762.61 Total return 282% · Per year 31% |
- Exit P/E± 81.06
- Net margin± 56.74
- Annual revenue growth± 42.32
- Annual dilution± 4.77
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202520 Oct 2026
- Annual report 202323 Apr 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.