TERNA-RETE ELETTRICA NAZIONA (TRN.MI) Fundamental Analysis & Valuation

BIT:TRN • IT0003242622

9.875 EUR
+0.05 (+0.48%)
Last: Mar 5, 2026, 05:29 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This TRN.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to TRN. TRN was compared to 26 industry peers in the Electric Utilities industry. While TRN has a great profitability rating, there are quite some concerns on its financial health. While showing a medium growth rate, TRN is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

7

1. TRN.MI Profitability Analysis

1.1 Basic Checks

  • In the past year TRN was profitable.
  • TRN had a positive operating cash flow in the past year.
  • TRN had positive earnings in each of the past 5 years.
  • In the past 5 years TRN always reported a positive cash flow from operatings.
TRN.MI Yearly Net Income VS EBIT VS OCF VS FCFTRN.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B

1.2 Ratios

  • TRN has a Return On Assets of 5.70%. This is amongst the best in the industry. TRN outperforms 80.77% of its industry peers.
  • TRN has a better Return On Equity (21.30%) than 73.08% of its industry peers.
  • TRN has a better Return On Invested Capital (8.22%) than 69.23% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for TRN is in line with the industry average of 6.40%.
  • The 3 year average ROIC (5.42%) for TRN is below the current ROIC(8.22%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.7%
ROE 21.3%
ROIC 8.22%
ROA(3y)3.81%
ROA(5y)3.76%
ROE(3y)14.02%
ROE(5y)15.38%
ROIC(3y)5.42%
ROIC(5y)5.17%
TRN.MI Yearly ROA, ROE, ROICTRN.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • With an excellent Profit Margin value of 28.88%, TRN belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • TRN's Profit Margin has declined in the last couple of years.
  • The Operating Margin of TRN (47.14%) is better than 96.15% of its industry peers.
  • TRN's Operating Margin has been stable in the last couple of years.
  • TRN has a Gross Margin of 80.75%. This is in the better half of the industry: TRN outperforms 73.08% of its industry peers.
  • TRN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 47.14%
PM (TTM) 28.88%
GM 80.75%
OM growth 3Y-0.34%
OM growth 5Y-1.39%
PM growth 3Y-1.94%
PM growth 5Y-2.37%
GM growth 3Y0.01%
GM growth 5Y-0.57%
TRN.MI Yearly Profit, Operating, Gross MarginsTRN.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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2

2. TRN.MI Health Analysis

2.1 Basic Checks

  • TRN has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • Compared to 1 year ago, TRN has about the same amount of shares outstanding.
  • The number of shares outstanding for TRN has been reduced compared to 5 years ago.
  • Compared to 1 year ago, TRN has an improved debt to assets ratio.
TRN.MI Yearly Shares OutstandingTRN.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
TRN.MI Yearly Total Debt VS Total AssetsTRN.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

  • TRN has an Altman-Z score of 1.28. This is a bad value and indicates that TRN is not financially healthy and even has some risk of bankruptcy.
  • TRN has a Altman-Z score (1.28) which is comparable to the rest of the industry.
  • A Debt/Equity ratio of 1.78 is on the high side and indicates that TRN has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.78, TRN is doing worse than 76.92% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.78
Debt/FCF N/A
Altman-Z 1.28
ROIC/WACC1.44
WACC5.72%
TRN.MI Yearly LT Debt VS Equity VS FCFTRN.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

  • TRN has a Current Ratio of 0.81. This is a bad value and indicates that TRN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • TRN has a Current ratio of 0.81. This is comparable to the rest of the industry: TRN outperforms 42.31% of its industry peers.
  • A Quick Ratio of 0.79 indicates that TRN may have some problems paying its short term obligations.
  • TRN has a Quick ratio of 0.79. This is comparable to the rest of the industry: TRN outperforms 50.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.79
TRN.MI Yearly Current Assets VS Current LiabilitesTRN.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. TRN.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 6.58% over the past year.
  • The Earnings Per Share has been growing slightly by 6.80% on average over the past years.
  • Looking at the last year, TRN shows a quite strong growth in Revenue. The Revenue has grown by 15.80% in the last year.
  • The Revenue has been growing by 9.59% on average over the past years. This is quite good.
EPS 1Y (TTM)6.58%
EPS 3Y9.92%
EPS 5Y6.8%
EPS Q2Q%0%
Revenue 1Y (TTM)15.8%
Revenue growth 3Y12.58%
Revenue growth 5Y9.59%
Sales Q2Q%10.65%

3.2 Future

  • Based on estimates for the next years, TRN will show a small growth in Earnings Per Share. The EPS will grow by 3.62% on average per year.
  • TRN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.12% yearly.
EPS Next Y4.65%
EPS Next 2Y2.45%
EPS Next 3Y3.29%
EPS Next 5Y3.62%
Revenue Next Year11.25%
Revenue Next 2Y9.01%
Revenue Next 3Y9.04%
Revenue Next 5Y8.12%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
TRN.MI Yearly Revenue VS EstimatesTRN.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B 5B
TRN.MI Yearly EPS VS EstimatesTRN.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.2 0.4 0.6

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3

4. TRN.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 17.95 indicates a rather expensive valuation of TRN.
  • TRN's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.03, TRN is valued a bit cheaper.
  • Based on the Price/Forward Earnings ratio of 18.16, the valuation of TRN can be described as rather expensive.
  • TRN's Price/Forward Earnings is on the same level as the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 25.11. TRN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 17.95
Fwd PE 18.16
TRN.MI Price Earnings VS Forward Price EarningsTRN.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 69.23% of the companies in the same industry are more expensive than TRN, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.34
TRN.MI Per share dataTRN.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of TRN may justify a higher PE ratio.
PEG (NY)3.86
PEG (5Y)2.64
EPS Next 2Y2.45%
EPS Next 3Y3.29%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. TRN.MI Dividend Analysis

5.1 Amount

  • TRN has a Yearly Dividend Yield of 3.92%.
  • TRN's Dividend Yield is a higher than the industry average which is at 2.95.
  • Compared to an average S&P500 Dividend Yield of 1.82, TRN pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.92%

5.2 History

  • The dividend of TRN is nicely growing with an annual growth rate of 7.81%!
Dividend Growth(5Y)7.81%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 49.65% of the earnings are spent on dividend by TRN. This is a bit on the high side, but may be sustainable.
  • The dividend of TRN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP49.65%
EPS Next 2Y2.45%
EPS Next 3Y3.29%
TRN.MI Yearly Income VS Free CF VS DividendTRN.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B -1B
TRN.MI Dividend Payout.TRN.MI Dividend Payout, showing the Payout Ratio.TRN.MI Dividend Payout.PayoutRetained Earnings

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TRN.MI Fundamentals: All Metrics, Ratios and Statistics

TERNA-RETE ELETTRICA NAZIONA

BIT:TRN (3/5/2026, 5:29:50 PM)

9.875

+0.05 (+0.48%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)11-13
Earnings (Next)03-25
Inst Owners30.95%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap19.85B
Revenue(TTM)3.62B
Net Income(TTM)1.60B
Analysts66.4
Price Target9.48 (-4%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.92%
Yearly Dividend0.34
Dividend Growth(5Y)7.81%
DP49.65%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.9%
Min EPS beat(2)5.01%
Max EPS beat(2)10.78%
EPS beat(4)4
Avg EPS beat(4)7.67%
Min EPS beat(4)4.64%
Max EPS beat(4)10.78%
EPS beat(8)6
Avg EPS beat(8)1.43%
EPS beat(12)7
Avg EPS beat(12)-7.47%
EPS beat(16)9
Avg EPS beat(16)-5.46%
Revenue beat(2)1
Avg Revenue beat(2)-0.03%
Min Revenue beat(2)-0.68%
Max Revenue beat(2)0.61%
Revenue beat(4)3
Avg Revenue beat(4)3.28%
Min Revenue beat(4)-0.68%
Max Revenue beat(4)10.66%
Revenue beat(8)7
Avg Revenue beat(8)3.07%
Revenue beat(12)10
Avg Revenue beat(12)10.23%
Revenue beat(16)14
Avg Revenue beat(16)32.58%
PT rev (1m)1.94%
PT rev (3m)4.29%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.78%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 17.95
Fwd PE 18.16
P/S 3.58
P/FCF N/A
P/OCF 10.01
P/B 2.64
P/tB 3.09
EV/EBITDA 8.34
EPS(TTM)0.55
EY5.57%
EPS(NY)0.54
Fwd EY5.51%
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)0.99
OCFY9.99%
SpS2.75
BVpS3.74
TBVpS3.2
PEG (NY)3.86
PEG (5Y)2.64
Graham Number6.8
Profitability
Industry RankSector Rank
ROA 5.7%
ROE 21.3%
ROCE 12.75%
ROIC 8.22%
ROICexc 9.41%
ROICexgc 9.96%
OM 47.14%
PM (TTM) 28.88%
GM 80.75%
FCFM N/A
ROA(3y)3.81%
ROA(5y)3.76%
ROE(3y)14.02%
ROE(5y)15.38%
ROIC(3y)5.42%
ROIC(5y)5.17%
ROICexc(3y)6.18%
ROICexc(5y)6.04%
ROICexgc(3y)6.53%
ROICexgc(5y)6.36%
ROCE(3y)8.16%
ROCE(5y)7.91%
ROICexgc growth 3Y2.03%
ROICexgc growth 5Y0.82%
ROICexc growth 3Y1.83%
ROICexc growth 5Y0.59%
OM growth 3Y-0.34%
OM growth 5Y-1.39%
PM growth 3Y-1.94%
PM growth 5Y-2.37%
GM growth 3Y0.01%
GM growth 5Y-0.57%
F-Score5
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 1.78
Debt/FCF N/A
Debt/EBITDA 3.81
Cap/Depr 324.54%
Cap/Sales 52.83%
Interest Coverage 6.57
Cash Conversion 56.48%
Profit Quality N/A
Current Ratio 0.81
Quick Ratio 0.79
Altman-Z 1.28
F-Score5
WACC5.72%
ROIC/WACC1.44
Cap/Depr(3y)274.34%
Cap/Depr(5y)249.54%
Cap/Sales(3y)67.98%
Cap/Sales(5y)63.26%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)6.58%
EPS 3Y9.92%
EPS 5Y6.8%
EPS Q2Q%0%
EPS Next Y4.65%
EPS Next 2Y2.45%
EPS Next 3Y3.29%
EPS Next 5Y3.62%
Revenue 1Y (TTM)15.8%
Revenue growth 3Y12.58%
Revenue growth 5Y9.59%
Sales Q2Q%10.65%
Revenue Next Year11.25%
Revenue Next 2Y9.01%
Revenue Next 3Y9.04%
Revenue Next 5Y8.12%
EBIT growth 1Y12.98%
EBIT growth 3Y12.2%
EBIT growth 5Y8.06%
EBIT Next Year66.22%
EBIT Next 3Y23.92%
EBIT Next 5Y17.08%
FCF growth 1Y-1095.18%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y12.85%
OCF growth 3Y20.84%
OCF growth 5Y2.54%

TERNA-RETE ELETTRICA NAZIONA / TRN.MI FAQ

What is the ChartMill fundamental rating of TERNA-RETE ELETTRICA NAZIONA (TRN.MI) stock?

ChartMill assigns a fundamental rating of 5 / 10 to TRN.MI.


Can you provide the valuation status for TERNA-RETE ELETTRICA NAZIONA?

ChartMill assigns a valuation rating of 3 / 10 to TERNA-RETE ELETTRICA NAZIONA (TRN.MI). This can be considered as Overvalued.


Can you provide the profitability details for TERNA-RETE ELETTRICA NAZIONA?

TERNA-RETE ELETTRICA NAZIONA (TRN.MI) has a profitability rating of 7 / 10.


Can you provide the financial health for TRN stock?

The financial health rating of TERNA-RETE ELETTRICA NAZIONA (TRN.MI) is 2 / 10.


How sustainable is the dividend of TERNA-RETE ELETTRICA NAZIONA (TRN.MI) stock?

The dividend rating of TERNA-RETE ELETTRICA NAZIONA (TRN.MI) is 6 / 10 and the dividend payout ratio is 49.65%.