REN - Redes Energéticas Nacionais SGPS S.A./€RENE
1D1W1MYTD1Y5YMAX
Capital at risk
About REN - Redes Energéticas Nacionais SGPS S.A.
REN - Redes Energéticas Nacionais, SGPS, S.A. is a Portuguese utility company established in 1994, specializing in the transmission of electricity and natural gas. The company operates the National Electricity Transmission Grid and the National Natural Gas Transportation Grid, overseeing their planning, construction, operation, and maintenance. REN also manages a liquefied natural gas (LNG) regasification terminal in Sines, Portugal, facilitating LNG storage and transportation. Additionally, through its subsidiary Rentelecom, REN provides telecommunications services, including infrastructure management and fiber optic rentals. Headquartered in Lisbon, Portugal, REN's strategic role in managing critical energy infrastructure positions it as a key player in ensuring the country's energy supply stability.
- Ticker
- €RENE
- Sector
- Utilities
- Primary listing
- XLIS
- Employees
- 787
- Headquarters
- Lisbon, Portugal
- Website
- www.ren.pt
RENE Metrics
BasicAdvanced
€2.3B
12.42
€0.28
0.25
€0.16
4.56%
Price and volume
Market cap
€2.3B
Beta
0.25
52-week high
€3.92
52-week low
€2.95
Average daily volume
702K
Dividend rate
€0.16
Financial strength
Current ratio
0.323
Quick ratio
0.317
Long term debt to equity
1.231
Total debt to equity
1.544
Dividend payout ratio (TTM)
56.60%
Interest coverage (TTM)
3.94%
Profitability
EBITDA (TTM)
519.451
Gross margin (TTM)
53.65%
Net profit margin (TTM)
16.83%
Operating margin (TTM)
22.29%
Effective tax rate (TTM)
13.66%
Revenue per employee (TTM)
€1,420,000
Management effectiveness
Return on assets (TTM)
2.80%
Return on equity (TTM)
12.36%
Valuation
Price to earnings (TTM)
12.417
Price to revenue (TTM)
2.089
Price to book
1.5
Price to tangible book (TTM)
-0.79
Price to free cash flow (TTM)
20.354
Free cash flow yield (TTM)
4.91%
Free cash flow per share (TTM)
0.172
Dividend yield (TTM)
4.56%
Growth
Revenue change (TTM)
9.64%
Earnings per share change (TTM)
12.06%
3-year revenue growth (CAGR)
8.84%
10-year revenue growth (CAGR)
4.46%
3-year earnings per share growth (CAGR)
13.12%
10-year earnings per share growth (CAGR)
6.32%
3-year dividend per share growth (CAGR)
-14.58%
10-year dividend per share growth (CAGR)
-5.61%
Bulls say / Bears say
REN reported H1 2026 recurrent net profit of €93.4 million—a 42% year-on-year increase—and EBITDA of €284.2 million, driven by the new electricity regulatory framework and stronger international contributions. (Reuters)
Capital expenditure surged 23.1% to €184.6 million in H1 2026, highlighted by the commissioning of the 400 kV Ponte de Lima–Fontefría interconnection and a 77.2% jump in transfers to the Regulated Asset Base, laying the groundwork for future earnings growth. (Investing.com)
Net debt declined by €16.7 million to €2.3828 billion while the average cost of debt improved to 2.52% and liquidity of €1.198 billion was maintained, bolstering REN’s financial resilience. (Investing.com)
A notable €14.6 million of the H1 2026 profit improvement stemmed from one-off tax-related gains—mainly the elimination of the gas levy and favourable court rulings—raising concerns over the sustainability of future earnings beyond core operations. (Investing.com)
EU energy ministers decided national operators would not allocate any domestic congestion revenues for EU-backed cross-border infrastructure projects until 2028 (rising to only 10% that year and 25% by 2031), potentially constraining predictable funding for REN’s planned interconnections. (Reuters)
REN’s regulated asset base (RAB) saw headwinds as electricity RAB declined by €39.6 million and gas transmission RAB fell by €35 million in H1 2026, which may limit future regulated revenue growth under the tariff-based framework. (Investing.com)
Data summarised monthly by Lightyear AI. Last updated on 6 Sept 2026.
Upcoming events
No upcoming events
Funds containing RENE
AllEURGBPUSD
Fund name | Fund size | €RENE weighting |
|---|---|---|
Xtrackers MSCI Europe Small Cap€DX2J | €3.2B | 0.09% |
Xtrackers MSCI Europe Small Cap£XXSC | £2.8B | 0.09% |
iShares Global Infrastructure€INFR | €2.1B | 0.04% |
iShares MSCI World Small Cap$WSML | $9B | 0.02% |
iShares MSCI World Small Cap€IUSN | €7.8B | 0.02% |
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