(TRN) Terna Rete Elettrica - Overview
Sector: Utilities | Industry: Utilities - Regulated Electric | Exchange: MI (Italy) | Market Cap: 20.669m EUR | Total Return: 30.5% in 12m
Electricity Transmission, Grid Management, Energy Services, Power Equipment
Total Rating 57
Safety 72
Buy Signal 0.32
Utilities - Regulated Electric
Industry Rotation: -16.0
Industry Rotation: -16.0
Market Cap:
24.2B
Avg Turnover: 38.7M EUR
Avg Turnover: 38.7M EUR
ATR:
1.87%
Peers RS (IBD): 63.3
Peers RS (IBD): 63.3
Risk 5d forecast
Volatility15.9%
Rel. Tail Risk0.23%
Reward TTM
Sharpe Ratio1.68
Alpha28.64
Character TTM
Beta0.045
Beta Downside-0.198
Drawdowns 3y
Max DD11.46%
CAGR/Max DD1.29
EPS (Earnings per Share)
EPS CAGR: 11.08%
EPS Trend: 80.7%
EPS Trend: 80.7%
Last SUE: 0.21
Qual. Beats: 0
Qual. Beats: 0
Revenue
Rev. CAGR: -7.11%
Rev. Trend: 24.9%
Rev. Trend: 24.9%
Last SUE: 0.03
Qual. Beats: 0
Qual. Beats: 0
Warnings
Share dilution 96.9% YoY - potential capital distress
Tailwinds
No distinct edge detected
Description: TRN Terna Rete Elettrica
Terna S.p.A. (TRN) is an Italian utility company. It primarily transmits and dispatches electricity across Italy, other Euro-area countries, and internationally.
The company operates through Regulated, Non-Regulated, and International segments. Its core business involves the design, construction, management, and maintenance of national electricity transmission grids. This is a capital-intensive business model, often characterized by long-term assets and regulated returns.
Terna also engages in secondary activities such as supplying transformers and cables, providing energy and connectivity services, and developing renewable energy projects. The electric utility sector is undergoing significant transformation due to the global shift towards renewable energy sources.
For more detailed financial analysis, consider exploring ValueRay.
- Italian regulatory framework dictates transmission tariffs
- Infrastructure investment drives regulated asset base growth
- International projects diversify revenue streams
- Energy transition policies impact grid modernization spending
- Commodity price fluctuations affect operational costs
Piotroski VR‑10 (Strict)
5.0
| Net Income: 1.65b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA -0.74 > 1.0 |
| NWC/Revenue: -11.10% < 20% (prev -24.34%; Δ 13.24% < -1%) |
| CFO/TA 0.16 > 3% & CFO 4.26b > Net Income 1.65b |
| Net Debt (11.67b) to EBITDA (3.53b): 3.31 < 3 |
| Current Ratio: 0.91 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.01b) vs 12m ago -0.01% < -2% |
| Gross Margin: 80.48% > 18% (prev 0.70%; Δ 7.98k% > 0.5%) |
| Asset Turnover: 23.27% > 50% (prev 20.55%; Δ 2.72% > 0%) |
| Interest Coverage Ratio: 9.55 > 6 (EBITDA TTM 3.53b / Interest Expense TTM 274.4m) |
Altman Z''
1.51
| A: -0.02 (Total Current Assets 6.24b - Total Current Liabilities 6.86b) / Total Assets 27.19b |
| B: 0.19 (Retained Earnings 5.24b / Total Assets 27.19b) |
| C: 0.11 (EBIT TTM 2.62b / Avg Total Assets 24.20b) |
| D: 0.29 (Book Value of Equity 5.69b / Total Liabilities 19.66b) |
| Altman-Z'' Score: 1.51 = BB |
Beneish M
-3.74
| DSRI: 0.75 (Receivables 1.17b/1.21b, Revenue 5.63b/4.36b) |
| GMI: 0.87 (GM 80.48% / 70.31%) |
| AQI: 0.16 (AQ_t 0.01 / AQ_t-1 0.06) |
| SGI: 1.29 (Revenue 5.63b / 4.36b) |
| TATA: -0.10 (NI 1.65b - CFO 4.26b) / TA 27.19b) |
| Beneish M-Score: -3.74 (Cap -4..+1) = AAA |
What is the price of TRN shares?
As of April 15, 2026, the stock is trading at EUR 10.23 with a total of 3,773,889 shares traded.
Over the past week, the price has changed by +1.84%, over one month by +2.10%, over three months by +11.60% and over the past year by +30.51%.
Over the past week, the price has changed by +1.84%, over one month by +2.10%, over three months by +11.60% and over the past year by +30.51%.
Is TRN a buy, sell or hold?
Terna Rete Elettrica has no consensus analysts rating.
What are the forecasts/targets for the TRN price?
| Analysts Target Price | - | - |
Terna Rete Elettrica (TRN) - Fundamental Data Overview
as of 11 April 2026
Market Cap USD = 24.23b (20.67b EUR * 1.1725 EUR.USD)P/E Trailing = 18.7364
P/E Forward = 19.9203
P/S = 5.1249
P/B = 2.5884
P/EG = 2.0899
Revenue TTM = 5.63b EUR
EBIT TTM = 2.62b EUR
EBITDA TTM = 3.53b EUR
Long Term Debt = 11.67b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.66b EUR (from shortTermDebt, last fiscal year)
Debt = 13.33b EUR (Calculated: Short Term 1.66b + Long Term 11.67b)
Net Debt = 11.67b EUR (from netDebt column, last quarter)
Enterprise Value = 31.83b EUR (20.67b + Debt 13.33b - CCE 2.17b)
Interest Coverage Ratio = 9.55 (Ebit TTM 2.62b / Interest Expense TTM 274.4m)
EV/FCF = -27.12x (Enterprise Value 31.83b / FCF TTM -1.17b)
FCF Yield = -3.69% (FCF TTM -1.17b / Enterprise Value 31.83b)
FCF Margin = -20.84% (FCF TTM -1.17b / Revenue TTM 5.63b)
Net Margin = 29.21% (Net Income TTM 1.65b / Revenue TTM 5.63b)
Gross Margin = 80.48% ((Revenue TTM 5.63b - Cost of Revenue TTM 1.10b) / Revenue TTM)
Gross Margin QoQ = 80.74% (prev 80.94%)
Tobins Q-Ratio = 1.17 (Enterprise Value 31.83b / Total Assets 27.19b)
Interest Expense / Debt = 2.06% (Interest Expense 274.4m / Debt 13.33b)
Taxrate = 29.86% (113.3m / 379.5m)
NOPAT = 1.84b (EBIT 2.62b * (1 - 29.86%))
Current Ratio = 0.91 (Total Current Assets 6.24b / Total Current Liabilities 6.86b)
Debt / Equity = 1.72 (Debt 13.33b / totalStockholderEquity, last quarter 7.77b)
Debt / EBITDA = 3.31 (Net Debt 11.67b / EBITDA 3.53b)
Debt / FCF = -9.94 (negative FCF - burning cash) (Net Debt 11.67b / FCF TTM -1.17b)
Total Stockholder Equity = 7.65b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.80% (Net Income 1.65b / Total Assets 27.19b)
RoE = 21.52% (Net Income TTM 1.65b / Total Stockholder Equity 7.65b)
RoCE = 13.57% (EBIT 2.62b / Capital Employed (Equity 7.65b + L.T.Debt 11.67b))
RoIC = 10.38% (NOPAT 1.84b / Invested Capital 17.71b)
WACC = 4.30% (E(20.67b)/V(34.00b) * Re(6.14%) + D(13.33b)/V(34.00b) * Rd(2.06%) * (1-Tc(0.30)))
Discount Rate = 6.14% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 40.29%
[DCF] Fair Price = unknown (Cash Flow -1.17b)
EPS Correlation: 80.68 | EPS CAGR: 11.08% | SUE: 0.21 | # QB: 0
Revenue Correlation: 24.89 | Revenue CAGR: -7.11% | SUE: 0.03 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.16 | Chg7d=-0.006 | Chg30d=-0.006 | Revisions Net=+0 | Analysts=2
EPS current Year (2026-12-31): EPS=0.55 | Chg7d=+0.002 | Chg30d=+0.002 | Revisions Net=+1 | Growth EPS=+0.0% | Growth Revenue=+8.1%
EPS next Year (2027-12-31): EPS=0.56 | Chg7d=+0.000 | Chg30d=-0.005 | Revisions Net=-1 | Growth EPS=+2.2% | Growth Revenue=+8.6%
[Analyst] Revisions Ratio: +0.14 (4 Up / 3 Down within 30d for Current Year)
[Growth] Implied Growth Rate = 2.6% (Discount Rate 7.9% - Earnings Yield 5.3%)
[Growth] Growth Spread = +6.1% (Analyst 8.7% - Implied 2.6%)