Saturday 17 October 2026
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Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)
EDN Utilities Utilities Regulated Electric
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 6.46% from fiscal 2024. In the quarter to June 2026, revenue grew 14.7%, EPS fell 72.9%, free cash flow grew 105.3% and total debt rose 142.0%, each against the same quarter a year earlier.
20.41
0.31
−1.50%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 13.25 | 27.55 | 19.05 | 4.16 | 2.54 | 3.27 | 3.88 | 6.52 | 13.78 | 14.38 |
Analyst estimates 2026–2028 Powerpack |
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| High | 28.39 | 52.25 | 63.29 | 30.03 | 6.44 | 7.90 | 8.08 | 21.80 | 51.69 | 48.44 | |||||
| People | |||||||||||||||
| People | Employees | 4,692 | 4,789 | 4,922 | 4,777 | 5,977 | 5,877 | 5,756 | 6,647 | 4,642 | 4,576 | ||||
| Revenue/emp, $m | 0.19 | 0.31 | 0.40 | 0.39 | 0.22 | 0.20 | 0.28 | 0.40 | 0.48 | 0.52 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 885 | 1,470 | 1,986 | 1,862 | 1,297 | 1,192 | 1,585 | 2,664 | 2,247 | 2,393 | ||||
| Gross margin, % | 6.67 | 27.47 | 23.53 | 18.63 | 14.81 | 12.85 | 3.74 | 3.95 | 19.31 | 22.76 | |||||
| EBT | (131) | 68 | 219 | 472 | (302) | (60) | (20) | 692 | 213 | 233 | |||||
| EBT margin, % | (14.77) | 4.62 | 11.04 | 25.36 | (23.28) | (5.03) | (1.28) | 25.98 | 9.46 | 9.74 | |||||
| Net income | (80) | 41 | 153 | 251 | (251) | (224) | (135) | 184 | 299 | 191 | |||||
| Depreciation | 24 | 26 | 91 | 99 | 97 | 100 | 148 | 325 | 182 | 169 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 19.74 | 32.73 | 44.61 | 42.47 | 29.64 | 27.24 | 36.23 | 60.90 | 51.37 | 54.69 | ||||
| Earnings | (1.80) | 0.92 | 3.43 | 4.67 | (5.73) | (5.13) | (3.07) | 4.22 | 6.83 | 4.47 | |||||
| Cash flow | 4.42 | 4.42 | 7.67 | 4.80 | 5.63 | 5.12 | 6.24 | 6.21 | 6.18 | 3.51 | |||||
| Capex | (3.74) | (4.88) | (6.59) | (4.42) | (3.20) | (3.53) | (5.58) | (10.40) | (9.05) | (6.74) | |||||
| Free cash flow | 0.69 | (0.47) | 1.08 | 0.37 | 2.43 | 1.59 | 0.65 | (4.20) | (2.87) | (3.23) | |||||
| Book value | 0.55 | 1.43 | 24.69 | 27.93 | 20.41 | 17.69 | 22.12 | 38.11 | 37.89 | 40.65 | |||||
| Shares, m | 45 | 45 | 45 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 53.42 | 7.96 | 1.11 | 0.00 | 0.00 | 0.00 | 4.73 | 6.34 | 7.00 | ||||
| P/S | 1.45 | 1.53 | 0.61 | 0.15 | 0.14 | 0.19 | 0.24 | 0.32 | 0.84 | 0.55 | |||||
| P/B | 52.42 | 35.08 | 1.10 | 0.22 | 0.21 | 0.30 | 0.39 | 0.51 | 1.13 | 0.74 | |||||
| EV/Sales | 1.65 | 1.70 | 0.73 | 0.22 | 0.19 | 0.34 | 0.16 | 0.33 | 0.87 | 0.68 | |||||
| EV/FCF | 47.14 | (118.63) | 30.31 | 25.26 | 2.27 | 5.80 | 9.08 | (4.73) | (15.58) | (11.49) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 198 | 198 | 342 | 210 | 246 | 224 | 273 | 272 | 271 | 154 | ||||
| Capex | (168) | (219) | (294) | (194) | (140) | (155) | (244) | (455) | (396) | (295) | |||||
| Free cash flow | 31 | (21) | 48 | 16 | 106 | 70 | 28 | (184) | (125) | (141) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | (199) | (198) | (258) | (139) | (268) | (583) | (888) | (469) | (136) | 82 | ||||
| Total debt | 191 | 257 | 294 | 204 | 119 | 108 | 113 | 361 | 514 | 947 | |||||
| Net debt | 174 | 252 | 250 | 138 | 56 | 72 | (120) | 12 | 77 | 310 | |||||
| Shareholders’ equity | 24 | 64 | 1,099 | 1,224 | 893 | 774 | 968 | 1,667 | 1,658 | 1,778 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (5.97) | 2.93 | 7.16 | 9.65 | (10.96) | (9.72) | (4.34) | 3.90 | 5.92 | 4.26 | ||||
| ROIC | (14.02) | 29.81 | 6.48 | 3.42 | (18.62) | (3.41) | (17.75) | (16.94) | 1.67 | 3.43 | |||||
| ROE | (84.52) | 93.04 | 26.22 | 21.62 | (23.74) | (26.89) | (15.45) | 13.95 | 18.00 | 11.14 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| NWE NorthWestern Corporation | $4.5B | 26.9× | 19.2× | +14.56% (above 0%: growing) | +17.14% (above 0%: growing) | −62.61% (below 0%: shrinking) | 77.12% | 16.36% | Compare |
| CIG Comp En De Mn Cemig ADS | $4.4B | 5.6× | 9.8× | +15.97% (above 0%: growing) | 0.00% | +411.73% (above 0%: growing) | 17.50% | 15.58% | Compare |
| MGEE MGE Energy Inc. | $2.7B | 17.8× | 19.4× | +1.09% (above 0%: growing) | +21.92% (above 0%: growing) | −419.80% (below 0%: shrinking) | 82.63% | 20.25% | Compare |
| CEPU Central Puerto S.A. Sponsored ADR | $2.0B | 4.8× | — | +148.79% (above 0%: growing) | +27.30% (above 0%: growing) | 0.00% | 28.98% | 25.61% | Compare |
| HE Hawaiian Electric Industries, Inc. | $1.5B | 6.6× | 12.8× | +25.90% (above 0%: growing) | +373.33% (above 0%: growing) | −1,019.72% (below 0%: shrinking) | 23.56% | 21.73% | Compare |
| EDN Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) | $458.5M | 5.0× | — | +14.68% (above 0%: growing) | −72.92% (below 0%: shrinking) | +105.29% (above 0%: growing) | 19.78% | 5.14% | |
| GNE Genie Energy Ltd. | $439.5M | 17.1× | 21.8× | −4.61% (below 0%: shrinking) | +300.00% (above 0%: growing) | −306.94% (below 0%: shrinking) | 33.54% | 6.50% | Compare |
| IMSR Terrestrial Energy Inc. | $341.1M | — (loss-making) | — | — | n/m | −29.74% (below 0%: shrinking) | — | 0.00% | Compare |
| NKLR Terra Innovatum Global N.V. | $285.1M | 0.3× | — | — | n/m | −324.23% (below 0%: shrinking) | — | 0.00% | Compare |
| Median of peers | $1.7B | 6.6× | 19.2× | +15.27% | +24.61% | −184.77% | 31.26% | 15.97% |
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) key facts
- Strength: Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 6.46% from fiscal 2024.
- Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) is an Utilities Regulated Electric company in the Utilities sector, traded in the US as an ADR.
- As of October 16, 2026, EDN traded at $20.41, a market capitalization of $458.5 million.
- Return on equity was 11.1% and debt-to-equity 0.62.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.96 (distress zone) for fiscal 2025.