Redeia Corporación, S.A. (RED.MC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-86.1%

€2.15

vs €15.41 price

Levered DCF

-€0.47

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.89

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.31×	24.26×	11.65×	13.22×	15.1×	14.58×	13.58×	14.89×
P/B	1.56×	1.73×	1.49×	1.83×	2.82×	2.63×	2.75×	3.13×
P/S	4.95×	5.59×	3.9×	4.35×	5.25×	4.55×	4.82×	5.39×
EV / EBITDA	12.01×	11.25×	8.69×	9.61×	10.48×	10.41×	9.79×	9.79×
Gross margin	62.5%	102.4%	100.6%	101.3%	101.9%	101.5%	101.3%	101.2%
Operating margin	43.9%	47.8%	47.9%	0.0%	50.8%	46.8%	53.9%	54.9%
Net margin	30.5%	23.1%	33.4%	33.0%	34.9%	31.3%	35.6%	36.2%
Current ratio	1.23×	1.18×	1.06×	1.02×	0.97×	1.31×	0.79×	1.25×
Debt / equity	1.29×	1.24×	1.07×	1.3×	2.01×	1.93×	1.84×	1.65×
Interest coverage	5.57×	5.3×	8.17×	0.01×	8.67×	6.95×	7.47×	7.43×
Dividend yield	5.6%	6.4%	7.1%	6.2%	5.3%	6.3%	5.5%	4.7%
Payout ratio	91.1%	155.4%	82.6%	81.8%	79.2%	91.2%	74.3%	70.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.6%	7.1%	12.8%	13.9%	18.7%	18.1%	20.3%	21.0%
Return on invested capital	3.9%	4.4%	6.0%	0.0%	6.2%	6.1%	7.1%	7.8%
Return on assets	3.3%	2.4%	4.8%	4.5%	4.9%	4.8%	5.6%	6.3%
Free cash flow yield	-4.8%	-1.4%	-5.8%	11.8%	10.2%	9.2%	5.4%	6.1%
Earnings yield	6.2%	4.1%	8.6%	7.6%	6.6%	6.9%	7.4%	6.7%
Enterprise value	€14.4B	€14.4B	€13.2B	€14.2B	€16B	€15.2B	€15.8B	€15.3B
Net debt / EBITDA	5.18×	4.3×	3.38×	3.68×	3.76×	4.22×	3.8×	3.06×
Cash conversion cycle (days)	-12	3,141	8,048	6,489	3,736	5,358	4,084	4,398