[EUROPE // RESEARCH]
GREEN
IBE.MC: Interconnection queues and grid CapEx versus LCOE compression
The operational value of utility-scale renewables relies on high-voltage transmission capacity. Iberdrola sustains demanding multiples tied to regulated grid returns and interconnection costs.
KEY TAKEAWAYS
- Iberdrola trades at a 25.04x PER with a market capitalization of 133.66 billion euros.
- The EBIT margin stands at 24.5%, supported by a 53.9% gross margin.
- Free cash flow (FCF) reaches 2.56 billion euros to fund regulated grid CapEx.
- The reported return on equity (ROE) reaches exactly 10.0%.
