S.P.E.E.H. Hidroelectrica S.A.

H2O

S.P.E.E.H. Hidroelectrica S.A. produces and supplies hydro, wind, and energy electricity in Romania. It operates 187 hydropower plants and microhydropower plants; 5 pumping stations with an installed...

Website | Electric Services | Energy

Automated Financial Analysis

🤵

Financial Advisor Insight

"Technicals confirm a positive long-term trend, supported by moving averages. Growth forecasts are robust, which could drive future appreciation. Selling pressure in the order book suggests short-term distribution."

Sentiment: Bearish Action: Hold

"Company demonstrates strong financial health with positive growth and stability indicators."

Strong Revenue Growth (24.4% CAGR).
High Profitability (Net Margin: 44.9%).
Bullish Trend (SMA50 > SMA200).
Overbought (RSI: 85.7).
Price above upper Bollinger Band (potential reversal).
Stochastic indicates overbought conditions.
Forecast: Continued Revenue Growth (~43.1% next year).

Technical Analysis

Trend Bullish (Long Term)
Last Cross
Golden Cross (4 months ago)
RSI (14) 85.7
SMA 50 125.95
SMA 200 122.61

Price Valuation

Current Price 138.00
Fair Value (PE 15) 137.66
Overvalued 0%
Graham Number 102.52
Downside 26%

Forecast

Rev Forecast (Next Yr) 13,152M
Growth Forecast 43.1%

📊 Market & Peer Context

Benchmark: BET
Volatility (Beta)
0.03
Less Volatile than Market
Correlation
0.03
Moves with Market
Relative Strength (1Y)
-48.73%
vs Benchmark
Index Returns (1Y)
71.3%
BET

Historical Performance

Metric 5Y 3Y 1Y YTD 6M 3M 1M 1W
H2O - - 14.0% 11.1% 13.7% 5.7% 0.0% 0.0%
BET - 135.9% 71.3% 19.7% 32.1% 9.9% 4.3% 2.7%
Alpha (Diff) - - -57.2% -8.5% -18.4% -4.1% -4.3% -2.7%

Financial Reports

Price Chart

ETAPA 1 • MUST HAVE

7/8
Healthy Leverage (Debt/Equity)
0.02
Target: < 1.5
Gross Margin vs Industry
0.0% vs 0.0%
Target: > 0.0%
Operating Cash Flow vs Profit
0%
Target: > 1.0
Free Cash Flow vs Profit
147%
Target: > 0.8
ROIC (Return on Capital)
11.38%
Target: Positive
ROIC vs WACC
ROIC: 11.4% / WACC: 4.1%
Target: > WACC
ROE (Return on Equity)
17.2%
Target: > 10%
EBITDA Positive
5,386.46M
Target: > 0

ETAPA 2 • CRITERII

7/9
Interest Coverage
Target: > 3x • 0.0x
Miss
Net Margin vs Industry
Target: > 0.0% • 44.9%
Passed
ROA vs Industry
Target: > 7.9% • 9.9%
Passed
Current Ratio
Target: > 1.5 • 6.69
Passed
Assets Growth (5y)
Target: > 0% • 12.9% CAGR
Passed
FCF CAGR (5y)
Target: > 5% • 30.2%
Passed
EV/EBITDA vs Industry
Target: < Industry • 0.0 vs 0.0
Miss
Net Debt / EBITDA
Target: < 3 • 0.07
Passed
Revenue CAGR (5y)
Target: > 5% • 24.4%
Passed

SNAPSHOT COMPANIE

Capitalizare
62.07B RON
EBITDA
5,386.46M
P/E Ratio
15.04
PEG Ratio
0.62
Dividend Yield
7.94%
Beta
0.03
Valoare Intrinsecă (Graham)
102.52 RON
Discount
-25.7%

Balance Sheet

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Cash & Equivalents 1,038,810,000 1,581,617,072 407,634,372 660,734,000 1,104,890,000
Short-Term Investments 2,687,390,000 3,475,932,995 4,349,481,852 3,034,745,000 2,561,467,000
Other Receivables 926,000 892,139 725,540 41,648,000 9,188,000
Prepaid Expenses 86,493,000 222,661,973 37,965,192 60,641,000 29,780,000
Restricted Cash 36,736,000 21,057,471 101,057,471 - 10,257,000
Assetsc 5,747,439,000 7,038,778,070 8,040,005,195 5,233,989,000 4,518,521,000
Property, Plant & Equipment 19,449,261,000 19,816,398,176 20,392,932,670 19,521,363,000 18,000,990,000
Assets 25,531,831,000 26,977,226,641 29,109,164,234 25,432,233,000 22,761,704,000
Current Portion of Leases 9,956,000 9,244,000 5,045,866 7,834,000 3,592,000
Current Income Taxes Payable 159,593,000 60,327,927 145,413,034 171,978,000 123,394,000
Total Current Liabilities 1,404,533,000 1,052,210,002 1,072,090,443 1,004,735,000 1,007,986,000
Long-Term Leases 64,104,000 70,110,288 61,255,105 7,567,000 8,914,000
Long-Term Unearned Revenue 197,178,000 156,673,133 131,507,412 181,522,000 187,170,000
Total Liabilities 4,410,470,000 4,080,759,655 4,042,606,726 3,845,383,000 3,578,187,000
Common Stock 5,526,898,000 4,498,025,670 4,498,025,670 4,484,595,000 4,484,595,000
Retained Earnings 3,367,968,000 5,646,897,362 7,320,694,985 4,955,049,000 3,960,146,000
Equity 21,121,361,000 22,896,466,986 25,066,557,508 21,586,850,000 19,183,517,000
Liabilitiesequity 25,531,831,000 26,977,226,641 29,109,164,234 25,432,233,000 22,761,704,000
Filing Date Shares Outstanding 449,802,567 449,802,567 449,802,567 448,459,482 448,447,467
Total Common Shares Outstanding 449,802,567 449,802,567 449,802,567 448,459,482 448,447,467
Book Value Per Share 46.96 50.90 55.73 48.14 42.78
Tangible Book Value 21,084,671,000 22,842,618,448 25,027,248,780 21,580,600,000 19,176,325,000
Tangible Book Value Per Share 46.88 50.78 55.64 48.12 42.76
Total Debt 310,246,000 380,087,564 459,835,712 499,893,000 590,302,000
Netcash 3,415,954,000 4,677,462,503 4,297,280,512 3,195,586,000 3,076,055,000
Net Cash Growth 0.60% 8.85% 34.48% 3.89% 51.38%
Netcashpershare 7.59 10.40 9.57 7.13 6.86
Working Capital 4,342,906,000 5,986,568,068 6,967,914,752 4,229,254,000 3,510,535,000
Land - 542,557,715 524,950,394 597,151,000 631,985,000
Buildings - 16,445,316,561 16,344,376,471 15,054,256,000 13,495,524,000
Machinery - 3,083,649,017 2,888,136,002 2,981,593,000 3,003,736,000
Construction In Progress - 670,044,141 665,358,029 918,032,000 905,554,000
Pension & Post-Retirement Benefits 127,258,000 128,595,893 128,443,399 121,840,000 122,949,000
Deffered Tax Assets - - - - 15,081,000
Accounts Receivable 1,770,775,000 1,633,688,425 3,047,968,209 1,350,677,000 663,528,000
Inventory 113,736,000 93,998,138 70,922,587 72,433,000 65,305,000
Other Current Assets 12,573,000 8,929,857 24,249,972 13,111,000 74,106,000
Other Intangible Assets 36,690,000 53,848,538 39,308,728 6,250,000 7,192,000
Long-Term Investments - - 353,397,310 351,338,000 -
Other Long-Term Assets 298,441,000 68,201,857 283,520,331 319,293,000 219,920,000
Accounts Payable 651,798,000 429,683,124 407,612,242 282,996,000 171,421,000
Accrued Expenses 193,423,000 146,073,854 159,374,868 211,438,000 273,021,000
Short-Term Debt - - - - -
Current Portion of Long-Term Debt 94,641,000 92,886,954 93,282,098 94,001,000 93,877,000
Long-Term Deferred Tax Assets - - - - 15,081,000
Current Unearned Revenue 100,951,000 103,932,070 47,442,696 90,380,000 99,055,000
Other Current Liabilities 194,171,000 210,062,073 213,919,639 146,108,000 243,626,000
Long-Term Debt 141,545,000 207,846,322 300,252,643 390,491,000 483,919,000
Long-Term Deferred Tax Liabilities 1,430,951,000 1,460,112,440 1,503,655,077 1,315,946,000 1,017,223,000
Other Long-Term Liabilities 1,044,901,000 1,005,211,577 845,402,647 823,282,000 750,026,000
Comprehensive Income & Other 12,226,495,000 12,751,543,954 13,247,836,853 12,147,206,000 10,738,776,000

Cash Flow Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Net Income 2,909,911,792 4,127,915,792 6,365,330,521 4,464,000,000 3,116,149,000
Change in Accounts Receivable 154,281,059 1,348,333,059 -1,777,209,279 -730,610,000 -332,316,000
Change in Inventory -9,676,579 -12,611,579 -3,116,002 -7,766,000 -2,045,000
Change in Accounts Payable 8,557,384 21,348,384 119,832,414 91,041,000 30,400,000
Change in Unearned Revenue 24,327,775 25,588,775 -4,662,919 -5,676,000 -2,863,000
Change in Other Net Operating Assets 36,956,169 296,139,169 -3,844,695 -207,872,000 186,149,000
Other Operating Activities -338,249,497 -470,442,497 -393,134,007 -209,328,000 -82,776,000
Ncfo 3,764,622,512 6,352,932,512 5,424,571,053 4,235,320,000 4,047,483,000
Ocf Growth -44.74% 17.11% 28.08% 4.64% 77.78%
Capex -305,537,602 -284,085,602 -189,407,760 -169,005,000 -176,805,000
Cash Acquisitions - -67,879,000 - - -598,255,000
Sale (Purchase) of Intangibles -20,995,712 -324,712 -1,272,858 -1,240,000 -2,385,000
Investment in Securities 919,010,500 1,253,331,500 -1,320,000,000 -792,855,000 -818,410,000
Ncfi 883,837,954 1,206,921,954 -1,229,398,378 -750,859,000 -1,541,938,000
Long-Term Debt Issued - - - - 635,219,000
Long-Term Debt Repaid - -98,785,696 -101,562,600 -97,671,000 -104,372,000
Net Debt Issued (Repaid) -101,592,696 -98,785,696 -101,562,600 -97,671,000 530,847,000
Issuance of Common Stock - - 2,678,640 - 24,000
Common Dividends Paid -4,042,278,070 -6,287,086,070 -4,349,388,772 -3,830,946,000 -2,286,371,000
Other Financing Activities - - - - -
Financing Cash Flow -4,143,870,766 -6,385,871,766 -4,448,272,732 -3,928,617,000 -1,755,500,000
Net Cash Flow 504,589,700 1,173,982,700 -253,100,057 -444,156,000 750,045,000
Free Cash Flow 3,459,084,910 6,068,846,910 5,235,163,293 4,066,315,000 3,870,678,000
Free Cash Flow Growth -47.19% 15.93% 28.74% 5.05% 83.50%
Fcf Margin 40.45% 66.05% 42.95% 42.96% 59.65%
Fcfps 7.69 13.49 11.65 9.07 8.63
Levered Free Cash Flow 2,908,463,579 4,697,448,866 3,658,423,066 3,156,099,500 2,865,060,500
Unlevered Free Cash Flow 2,922,178,792 4,714,277,204 3,674,696,176 3,162,747,625 2,874,993,625
Cash Interest Paid 13,819,756 18,840,756 15,193,345 2,658,000 1,631,000
Cash Income Tax Paid 553,434,275 836,254,275 1,200,024,727 928,247,000 675,889,000
Change Working Capital 214,445,808 1,678,797,808 -1,669,000,481 -860,883,000 -120,675,000
Sale of Property, Plant & Equipment 6,545,000 - - 203,000 -
Miscellaneous Cash Flow Adjustments - - - - -
Depamor C F Uti 923,820,948 941,066,948 1,032,584,117 769,968,000 758,138,000
Gw Intang Amort C F Uti 7,783,952 3,394,952 3,594,357 2,182,000 2,365,000
Depreciation & Amortization 931,604,900 944,461,900 1,036,178,474 772,150,000 760,503,000
Loss (Gain) on Sale of Assets -1,320,216 6,252,784 5,278,348 2,051,000 3,605,000
Asset Writedown 3,959,000 - - 23,869,000 359,329,000
Capex Uti -305,537,602 -284,085,602 -189,407,760 -169,005,000 -176,805,000
Other Investing Activities 284,815,768 305,879,768 281,282,240 212,038,000 53,917,000

Income Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Revenue 8,552,346,365 9,188,567,365 12,187,888,158 9,465,908,000 6,489,297,000
Revenue Growth -14.48% -24.61% 28.76% 45.87% 68.93%
Operating Revenue 8,620,605,143 9,122,709,143 12,160,183,657 9,451,955,000 6,489,297,000
Other Revenue -68,258,778 65,858,222 27,704,501 13,953,000 -
Pretax Income 3,394,513,033 4,844,595,033 7,459,127,382 5,417,436,000 3,784,751,000
Income Tax Expense 484,601,241 716,679,241 1,093,796,861 953,436,000 668,602,000
Net Income 2,909,911,792 4,127,915,792 6,365,330,521 4,464,000,000 3,116,149,000
Net Income to Common 2,909,911,792 4,127,915,792 6,365,330,521 4,464,000,000 3,116,149,000
Net Income Growth -38.26% -35.15% 42.59% 43.25% 100.01%
Shares Basic 449,802,567 449,802,567 449,242,948 448,459,482 448,449,470
Shares Outstanding (Diluted) 449,802,567 449,802,567 449,242,948 448,459,482 448,449,470
Shares Yo Y - 0.00 0.00 0.00 0.00
Eps Basic 6.47 9.18 14.17 9.95 6.95
EPS (Diluted) 6.47 9.18 14.17 9.95 6.95
EPS Growth -38.26% -35.23% 42.34% 43.25% 99.94%
Free Cash Flow 3,459,084,910 6,068,846,910 5,235,163,293 4,066,315,000 3,870,678,000
Free Cash Flow Per Share 7.69 13.49 11.65 9.07 8.63
Dps 8.99 8.99 13.99 9.67 8.54
Dividend Growth -35.75% -35.75% 44.67% 13.23% 67.45%
Profit Margin 34.03% 44.92% 52.23% 47.16% 48.02%
Free Cash Flow Margin 40.45% 66.05% 42.95% 42.96% 59.65%
Effective Tax Rate 0.14 0.15 0.15 0.18 0.18
EBITDA 3,969,718,830 5,386,458,830 8,240,522,173 5,979,839,000 4,709,552,000
D&A For EBITDA 931,604,900 944,461,900 1,036,178,474 772,150,000 760,503,000
EBITDA Margin 46.42% 58.62% 67.61% 63.17% 72.57%
EBIT 3,038,113,930 4,441,996,930 7,204,343,699 5,207,689,000 3,949,049,000
EBIT Margin 35.52% 48.34% 59.11% 55.02% 60.86%
Revenue As Reported - - - - -
Payoutratio 138.95% 152.31% 68.33% 85.82% 73.37%
Fuel & Purchased Power 699,481,067 208,848,067 456,162,844 697,142,000 90,121,000
Operations & Maintenance 141,152,537 92,355,537 85,392,113 82,337,000 70,684,000
Provision for Bad Debts 44,270,725 65,946,725 79,918,198 43,461,000 11,348,000
Selling, General & Admin 435,647,091 531,366,091 645,340,835 452,893,000 553,380,000
Other Operating Expenses 3,262,075,115 2,903,592,115 2,680,551,995 2,210,236,000 1,054,212,000
Depreciation & Amortization 931,605,900 944,461,900 1,036,178,474 772,150,000 760,503,000
Total Operating Expenses 5,514,232,435 4,746,570,435 4,983,544,459 4,258,219,000 2,540,248,000
Operating Income Uti 3,038,113,930 4,441,996,930 7,204,343,699 5,207,689,000 3,949,049,000
Interest Expense -21,944,341 -26,925,341 -26,036,976 -10,637,000 -15,893,000
Interest Income 280,966,890 332,133,890 302,517,905 243,708,000 72,066,000
Net Interest Expense 259,022,549 305,208,549 276,480,929 233,071,000 56,173,000
Currency Exchange Gain (Loss) 1,662,698 -57,302 -628,685 936,000 -8,792,000
Other Non-Operating Income (Expenses) 80,197,732 77,971,732 -15,790,213 1,660,000 119,725,000
EBT Excluding Unusual Items 3,378,996,909 4,825,119,909 7,464,405,730 5,443,356,000 4,116,155,000
Gain (Loss) on Sale of Assets -6,252,784 -6,252,784 -5,278,348 -2,051,000 -3,605,000
Asset Writedown -3,959,000 - - -23,869,000 -359,329,000
Other Unusual Items 25,727,908 25,727,908 - - 31,530,000

Ratios and Metrics

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Marketcap 55,550,617,025 54,875,913,174 57,574,728,576 - -
Market Cap Growth 1.90% -4.69% - - -
Enterprise Value 52,134,663,024 51,480,295,174 54,613,117,576 - -
Last Close Ratios 12,350.00% 11,314.89% 10,658.21% - -
Pe 19.09 13.29 9.05 - -
Pe Forward 13.19 11.91 10.40 - -
PS Ratio 6.50 5.97 4.72 - -
PB Ratio 2.63 2.40 2.30 - -
Ptbv Ratio 2.63 2.40 2.30 - -
P/FCF Ratio 16.06 9.04 11.00 - -
P/OCF Ratio 14.76 8.64 10.61 - -
Peg Ratio 146.51% 300.80% 172.20% - -
EV/Sales Ratio 6.10 5.60 4.48 - -
EV/EBITDA Ratio 13.13 9.56 6.63 - -
EV/EBIT Ratio 17.16 11.59 7.58 - -
EV/FCF Ratio 15.07 8.48 10.43 - -
Debt / Equity Ratio 0.02 0.02 0.02 0.02 0.03
Debt / EBITDA Ratio 0.08 0.07 0.06 0.08 0.13
Debt / FCF Ratio 0.09 0.06 0.09 0.12 0.15
Asset Turnover 32.90% 32.80% 44.70% 39.30% 33.00%
Inventory Turnover 2,429.40% 2,186.70% 2,854.50% 2,121.00% 486.50%
Quick Ratio 3.91 6.36 7.28 5.06 4.31
Current Ratio 4.09 6.69 7.50 5.21 4.48
Roe 13.42% 17.21% 27.29% 21.90% 18.50%
Return on Assets (ROA) 7.30% 9.90% 16.51% 13.51% 12.54%
Return on Capital (ROIC) 8.62% 11.38% 18.91% 15.55% 14.38%
Return on Capital Employed (ROCE) 0.13 0.17 0.26 0.21 0.18
Earnings Yield 5.24% 7.52% 11.06% - -
FCF Yield 6.23% 11.06% 9.09% - -
Dividend Yield 7.28% 7.94% 13.13% - -
Payout Ratio 138.95% 152.31% 68.33% 85.82% 73.37%
Buyback Yield / Dilution - -0.13% -0.18% 0.00% -0.03%
Totalreturn 7.28% 7.82% 12.95% 0.00% -0.03%

Business Metrics

Annual Data
Metric 2024 2023 2022 2021 2020
Fiscal Year 2,024 2,023 2,022 2,021 2,020
Category Names Revenue by Product Revenue by Geography - - -
Fiscal Quarter Q4 Q4 Q4 Q4 Q4

Price History

Jul 12, 2023 — Jan 26, 2026 643 Records
Date Open High Low Close Volume
2026-01-26 136.60 138.50 136.10 138.00 131,917
2026-01-25 133.00 136.70 131.60 136.60 61,844
2026-01-24 131.00 133.00 131.00 133.00 61,035
2026-01-22 131.00 133.00 131.00 133.00 61,035
2026-01-21 130.30 132.80 130.30 131.00 41,127
2026-01-20 131.00 131.00 129.10 130.50 26,301
2026-01-19 130.20 131.50 129.70 130.50 36,811
2026-01-18 132.20 132.20 129.70 130.20 46,729
2026-01-15 131.90 132.90 131.80 132.40 115,486
2026-01-14 127.90 132.90 126.90 132.90 106,984
2026-01-13 127.50 128.00 126.90 128.00 50,121
2026-01-12 124.50 125.60 124.50 125.40 56,839
2026-01-11 124.50 125.60 124.50 125.40 56,839
2026-01-09 123.30 124.90 123.30 124.50 17,814
2026-01-08 123.30 124.90 123.30 124.50 17,814
2026-01-07 124.40 124.50 123.20 123.30 73,208
2026-01-06 124.30 124.90 123.80 123.80 39,704
2026-01-05 124.30 124.90 123.80 123.80 39,704
2026-01-04 124.30 124.90 123.80 123.80 39,704
2026-01-01 124.20 124.90 124.10 124.20 17,283
2025-12-31 124.20 124.90 124.10 124.20 17,283
2025-12-30 124.20 124.90 124.10 124.20 17,283
2025-12-29 124.20 124.90 124.10 124.20 17,283
2025-12-28 124.50 125.10 124.20 124.20 27,688
2025-12-25 125.00 125.00 124.10 125.00 21,535
2025-12-24 125.00 125.00 124.10 125.00 21,535
2025-12-23 125.00 125.00 124.10 125.00 21,535
2025-12-22 125.00 125.00 124.10 125.00 21,535
2025-12-21 124.70 125.00 124.00 125.00 61,360
2025-12-19 124.00 125.00 124.00 125.00 60,362
2025-12-18 124.00 125.00 124.00 125.00 60,362
2025-12-17 123.60 124.20 122.90 124.20 13,567
2025-12-16 124.30 124.50 123.00 124.00 21,767
2025-12-15 124.80 125.00 124.20 124.30 67,993
2025-12-14 124.30 124.90 123.50 124.80 40,197
2025-12-12 124.10 124.70 123.80 124.60 12,429
2025-12-11 124.10 124.70 123.80 124.60 12,429
2025-12-10 124.10 124.40 123.40 124.40 51,060
2025-12-09 124.90 124.90 123.60 124.80 51,515
2025-12-08 124.50 125.00 123.50 125.00 51,541
2025-12-07 123.00 124.20 122.30 124.00 99,131
2025-12-05 123.50 123.60 122.10 123.50 38,638
2025-12-04 123.50 123.60 122.10 123.50 38,638
2025-12-03 122.30 123.50 122.10 123.50 20,269
2025-12-02 122.90 123.40 121.90 123.00 40,649
2025-12-01 122.40 123.10 121.60 123.10 90,297
2025-11-30 121.90 122.70 121.90 122.50 66,598
2025-11-28 121.90 122.70 121.90 122.50 66,598
2025-11-27 121.90 122.70 121.90 122.50 66,598
2025-11-26 120.20 122.80 120.20 122.00 54,891