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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.

Revenue: +14.7%
EPS: −72.9%
Free cash flow: +105.3%
Total debt: +142.0%

Quarter to June 2026, against a year earlier

14.18 0.72 −4.83%

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Market cap: $313.1M
P/E: 3.5×
Fwd P/E: —
Dividend yield: —
F-score: 6/9
Altman Z: 0.96
Beneish M: −1.30
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 49.51%

Capital & Financial Ratios $m

Size

Market Cap 313.14

Revenue ttm 2,493.02

Net income ttm 183.48

Free cash flow ttm (99.54)

Net debt Q 299.57

Valuation

P/E 3.50

Forward P/E —

Price / sales 0.25

Forward P/S Powerpack

Price / FCF 0.00

Price / book 0.32

Financial health

Current ratio Q 1.46

Debt / equity Q 0.62

Interest coverage Q 0.58

Growth

Revenue growth Q +14.68%

Operating income growth Q +278.15%

EPS, this year −87.68%

EPS, next year A +1,036.00%

Revenue, next year A —

EPS, past 5 yrs —

EPS, next 5 yrs A +0.76%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 26.99%

10-year low 10-year high

P/S against its own 10 years 32.45%

10-year low 10-year high

P/B against its own 10 years 22.76%

10-year low 10-year high

EV/Sales against its own 10 years 45.73%

10-year low 10-year high

Dividends

Yield: —
Annual rate: —
Payout ratio: —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	349	437	637	889
Receivables	382	461	425	426
Inventory	151	165	187	186
Other	—	—	—	—
	882	1,063	1,248	1,501

	2023	2024	2025	Q'26
Payables	916	835	422	489
ST’ Debt	193	124	384	252
Other	13	10	21	17
	1,352	1,199	1,166	1,031

Compound Annual Growth %

	10y	5y	3y
Sales	19.19%	13.03%	14.72%
Cash Flow	(7.90%)	(9.00%)	(17.42%)
Earnings	4.41%	0.00%	0.00%
Book Value	26.77%	14.77%	22.49%

Earnings Trends EPS, adjusted, against the consensus

Sep 2024 Estimate −0.01 Actual 2.78

−4.65 −1.73 1.19 4.11 7.03

Dec 2021 Beat +1.48

Sep 2023 Beat +0.63

Jun 2024 Beat +1.27

Sep 2024 Beat +2.79

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Dec 2021	−3.30	−1.82	Beat by 1.48
Sep 2023	5.05	5.68	Beat by 0.63
Jun 2024	−0.05	1.22	Beat by 1.27
Sep 2024	−0.01	2.78	Beat by 2.79

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.90	0.50	—	—	—
’25	0.78	1.85	0.70	0.95	4.47
’24	1.39	1.22	2.78	1.38	6.83
’23	(1.19)	(0.48)	5.68	0.12	4.22
’22	(0.60)	(1.27)	(1.03)	(0.17)	(3.07)
’21	(0.17)	(2.67)	(0.15)	(1.82)	(5.13)
’20	0.27	(0.85)	0.03	(4.54)	(5.73)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	593	643	—	—	—
’25	575	561	593	665	2,393
’24	331	480	611	824	2,247
’23	363	395	457	1,449	2,664
’22	286	312	351	636	1,585
’21	238	253	126	576	1,192
’20	335	266	316	380	1,297

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	43	67	—	—	—
’25	67	30	12	45	154
’24	34	46	66	125	271
’23	8	54	80	129	272
’22	50	76	41	106	273
’21	46	70	62	46	224
’20	34	74	128	11	246

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9	2	—	—	—
’25	10	(41)	(60)	(50)	(141)
’24	(18)	(42)	(51)	(15)	(125)
’23	(38)	(12)	(4)	(130)	(184)
’22	28	32	(11)	(21)	28
’21	25	32	20	(8)	70
’20	17	39	91	(41)	106

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Jun ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	885	1,470	1,986	1,862	1,297	1,192	1,585	2,664	2,247	2,393	2,493		+11.7%	—	—	—	—
	Gross margin, %	6.67	27.47	23.53	18.63	14.81	12.85	3.74	3.95	19.31	22.76	24.73		+16.1 pt	Powerpack Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)’s next three years, line by line See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(131)	68	219	472	(302)	(60)	(20)	692	213	233	222		n/m
	EBT margin, %	(14.77)	4.62	11.04	25.36	(23.28)	(5.03)	(1.28)	25.98	9.46	9.74	8.91		+24.5 pt
	Net income	(80)	41	153	251	(251)	(224)	(135)	184	299	191	183		n/m
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	56.98		+12.0%
	Earnings	(1.80)	0.92	3.43	5.73	(5.73)	(5.13)	(3.07)	4.22	6.83	4.47	4.05		n/m
	Cash flow	4.42	4.42	7.67	4.80	5.63	5.12	6.24	6.21	6.18	3.51	3.80		(2.5%)
	Capex	(3.74)	(4.88)	(6.59)	(4.42)	(3.20)	(3.53)	(5.58)	(10.40)	(9.05)	(6.74)	(6.08)		+6.8%
	Free cash flow	0.69	(0.47)	1.08	0.37	2.43	1.59	0.65	(4.20)	(2.87)	(3.23)	(2.28)		n/m
	Book value	0.55	1.43	24.69	27.93	20.41	17.69	22.12	38.11	37.89	40.65	44.07		+61.4%
	Shares, m	45	45	45	44	44	44	44	44	44	44	44		(0.3%)
Valuation, ×
Valuation, ×	P/E	0.00	53.42	7.96	1.11	0.00	0.00	0.00	4.73	6.34	7.00	3.50		8.1
	P/S	1.45	1.53	0.61	0.15	0.14	0.19	0.24	0.32	0.84	0.55	0.25		0.6
	P/B	52.42	35.08	1.10	0.22	0.21	0.30	0.39	0.51	1.13	0.74	0.32		9.2
	EV/Sales	1.65	1.70	0.73	0.22	0.19	0.34	0.16	0.33	0.87	0.68	0.37		0.7
	EV/FCF	47.14	(118.63)	30.31	25.26	2.27	5.80	9.08	(4.73)	(15.58)	(11.49)	(9.24)		(3.1)
Cash, $m
Cash, $m	Operating cash flow	198	198	342	210	246	224	273	272	271	154	166		(2.8%)
	Capex	(168)	(219)	(294)	(194)	(140)	(155)	(244)	(455)	(396)	(295)	(266)		+6.5%
	Free cash flow	31	(21)	48	16	106	70	28	(184)	(125)	(141)	(100)		n/m
Balance, $m
Balance, $m	Working capital	(199)	(198)	(258)	(139)	(268)	(583)	(888)	(469)	(136)	82	470		n/m
	Net debt	174	252	250	138	56	72	(120)	12	77	310	300		+6.7%
	Shareholders’ equity	24	64	1,099	1,224	893	774	968	1,667	1,658	1,778	1,928		+61.0%
Returns, %
Returns, %	ROA	(5.97)	2.93	7.16	9.65	(10.96)	(9.72)	(4.34)	3.90	5.92	4.26	3.93		+10.2 pt
	ROIC	(14.02)	29.81	6.48	3.42	(18.62)	(3.41)	(17.75)	(16.94)	1.67	3.43	5.95		+17.5 pt
	ROE	(84.52)	93.04	26.22	21.62	(23.74)	(26.89)	(15.45)	13.95	18.00	11.14	9.97		+95.7 pt
People
People	Employees	4,692	4,789	4,922	4,777	5,977	5,877	5,756	6,647	4,642	4,576	—		(0.3%)
	Revenue/emp, $m	0.19	0.31	0.40	0.39	0.22	0.20	0.28	0.40	0.48	0.52	—		+12.0%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

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	$5.1B	30.8×	23.6×	+9.51% (above 0%: growing)	−19.35% (below 0%: shrinking)	−5.54% (below 0%: shrinking)	0.00%	17.61%	Compare
CIG Comp En De Mn Cemig ADS	$3.5B	6.1×	7.8×	+15.97% (above 0%: growing)	0.00%	+411.73% (above 0%: growing)	17.50%	15.58%	Compare
MGEE MGE Energy Inc.	$3.0B	18.1×	18.7×	+8.38% (above 0%: growing)	+22.13% (above 0%: growing)	+122.24% (above 0%: growing)	0.00%	30.51%	Compare
CEPU Central Puerto S.A. Sponsored ADR	$1.5B	3.6×	—	+148.79% (above 0%: growing)	+27.30% (above 0%: growing)	0.00%	28.98%	25.61%	Compare
HE Hawaiian Electric Industries, Inc.	$1.5B	6.5×	10.9×	+25.90% (above 0%: growing)	+373.33% (above 0%: growing)	−1,019.72% (below 0%: shrinking)	23.56%	21.73%	Compare
GNE Genie Energy Ltd.	$439.8M	17.0×	16.1×	−4.61% (below 0%: shrinking)	+388.89% (above 0%: growing)	−306.94% (below 0%: shrinking)	33.54%	6.50%	Compare
EDN Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)	$313.1M	3.5×	—	+14.68% (above 0%: growing)	−72.92% (below 0%: shrinking)	+105.29% (above 0%: growing)	19.78%	5.14%
IMSR Terrestrial Energy Inc.	$271.6M	— (loss-making)	—	—	n/m	−29.74% (below 0%: shrinking)	—	0.00%	Compare
NKLR Terra Innovatum Global N.V.	$224.3M	0.2×	—	—	n/m	−324.23% (below 0%: shrinking)	—	0.00%	Compare
Median of peers	$1.5B	6.5×	16.1×	+12.74%	+24.72%	−17.64%	20.53%	16.60%

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