Financial Ratios Iberdrola, S.A.

Equities

IBE

ES0144580Y14

Electric Utilities

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09:34am	IBEX takes a breather as doubts persist about the Fed's next move	RE
Sep. 13	Qatar Investment Authority Considers Raising Iberdrola Stake	MT

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Published financial data: IBERDROLA, S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	36.44B	33.14B	39.11B	53.95B	49.34B
Total Revenues	36.44B	33.14B	39.11B	53.95B	49.34B
Selling General & Admin Expenses, Total	2.85B	2.84B	3B	3.66B	4.01B
Depreciation & Amortization - (IS) - (Collected)	-	-	4.27B	4.77B	4.77B
Amortization of Goodwill and Intangible Assets - (IS)	3.95B	4.04B	-	-	-
Provision for Bad Debts	297M	381M	369M	470M	618M
Other Operating Expenses	23.57B	20.35B	24.15B	37.08B	30.95B
Total Operating Expenses	30.66B	27.61B	31.78B	45.99B	40.34B
Operating Income (REIT / Utility Template)	5.78B	5.53B	7.33B	7.96B	8.99B
Interest Expense, Total	-1.04B	-983M	-1.13B	-1.7B	-2.07B
Interest and Investment Income	132M	140M	419M	444M	518M
Net Interest Expenses	-913M	-843M	-708M	-1.26B	-1.55B
Income (Loss) on Equity Invest.	14.8M	-4M	-39M	146M	239M
Currency Exchange Gains (Loss)	4.86M	-2M	11M	-24M	-4M
Other Non Operating Income (Expenses)	-229M	-22M	-199M	-453M	-459M
EBT, Excl. Unusual Items	4.66B	4.66B	6.4B	6.37B	7.21B
Restructuring Charges	-36.05M	-28M	-22M	-34M	-75M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	203M	513M	-	-	-
Asset Writedown	20.02M	-53M	-28M	-2M	-59M
Legal Settlements	-48.83M	-40M	-44M	-43M	-54M
EBT, Incl. Unusual Items	4.79B	5.05B	6.3B	6.29B	7.02B
Income Tax Expense	914M	1.08B	1.91B	1.16B	1.61B
Earnings From Continuing Operations	3.88B	3.97B	4.39B	5.13B	5.42B
Earnings Of Discontinued Operations	-65.35M	-18M	-35M	-71M	-21M
Net Income to Company	3.81B	3.95B	4.35B	5.06B	5.39B
Minority Interest	-408M	-341M	-467M	-721M	-591M
Net Income - (IS)	3.41B	3.61B	3.88B	4.34B	4.8B
Preferred Dividend and Other Adjustments	-	74M	155M	169M	203M
Net Income to Common Incl Extra Items	3.41B	3.54B	3.73B	4.17B	4.6B
Net Income to Common Excl. Extra Items	3.47B	3.56B	3.76B	4.24B	4.62B
Per Share Items
Net EPS - Basic	0.52	0.55	0.58	0.64	0.72
Basic EPS - Continuing Operations	0.53	0.55	0.58	0.66	0.72
Basic Weighted Average Shares Outstanding	6.5B	6.44B	6.44B	6.47B	6.43B
Net EPS - Diluted	0.52	0.55	0.58	0.64	0.71
Diluted EPS - Continuing Operations	0.53	0.55	0.58	0.65	0.72
Diluted Weighted Average Shares Outstanding	6.51B	6.45B	6.45B	6.49B	6.45B
Normalized Basic EPS	0.39	0.4	0.55	0.5	0.61
Normalized Diluted EPS	0.38	0.4	0.55	0.5	0.61
Dividend Per Share	0.4	0.42	0.44	0.5	0.55
Payout Ratio	9.68	15.56	14.67	19.8	19.76
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
Utility Revenues	36.27B	33.04B	37.58B	52.01B	47.84B
Non Utility Revenues	163M	106M	1.54B	1.94B	1.49B
EBITDA	9.35B	9.18B	11.17B	12.26B	13.3B
EBITA	6.53B	6.14B	8.01B	8.8B	9.82B
EBIT	5.78B	5.53B	7.33B	7.96B	8.99B
EBITDAR	9.36B	9.19B	11.18B	12.28B	13.32B
Effective Tax Rate - (Ratio)	19.07	21.43	30.38	18.45	22.92
Total Current Taxes	710M	505M	1.1B	1.08B	1.59B
Total Deferred Taxes	213M	571M	806M	54M	12M
Normalized Net Income	2.5B	2.57B	3.53B	3.26B	3.92B
Interest Capitalized	223M	149M	145M	189M	381M
Interest on Long-Term Debt	57.02M	61M	67M	78M	79M
Non-Cash Pension Expense	52.57M	25M	-54M	-83M	21M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	280M	293M	337M	363M	363M
Net Rental Expense, Total	14.21M	11M	10M	17M	21M
Imputed Operating Lease Interest Expense	3.65M	2.44M	2.43M	5.29M	7.83M
Imputed Operating Lease Depreciation	10.56M	8.56M	7.57M	11.71M	13.17M
Stock-Based Comp., SG&A Exp. (Total)	2.85M	-	62M	63M	9M
Total Stock-Based Compensation	2.85M	-	62M	63M	9M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.11B	3.43B	4.03B	4.61B	3.02B
Short Term Investments - (Utility / Insurance Templates)	580M	528M	1.43B	2.86B	1.58B
Trading Asset Securities, Total	31.56M	28M	55M	10M	55M
Accounts Receivable, Total	6.05B	5.74B	6.97B	8.43B	7.9B
Other Receivables	1.45B	1.92B	3.98B	2.79B	2.14B
Accounts Receivable (Summary Subtotal)	7.5B	7.66B	10.96B	11.22B	10.04B
Inventory - (Utility Template)	2.54B	2.44B	2.64B	2.16B	2.55B
Other Current Assets, Total	792M	882M	3.27B	2.51B	5.82B
Total Current Assets	13.56B	14.97B	22.38B	23.37B	23.06B
Gross Property Plant And Equipment	115B	117B	130B	140B	142B
Accumulated Depreciation	-42.35B	-44.11B	-48.44B	-51.9B	-53.08B
Net Property Plant And Equipment	72.43B	73.16B	81.47B	87.85B	89.25B
Goodwill	8.15B	7.61B	8.31B	8.19B	8.38B
Other Intangibles, Total	12.21B	10.61B	11.6B	11.93B	11.88B
Long-Term Investments - (Utility Template)	4.85B	3.9B	1.6B	2.43B	3.03B
Accounts Receivable Long-Term	1.57B	1.71B	2.4B	3.36B	2.34B
Deferred Tax Assets Long-Term (Collected)	5.69B	5.98B	5.92B	6.32B	2.01B
Other Long-Term Assets, Total	3.89B	4.58B	8.08B	11.22B	10.08B
Total Assets	122B	123B	142B	155B	150B
Liabilities
Accounts Payable, Total	5.1B	5.14B	5.96B	5.93B	5.11B
Accrued Expenses, Total	1.25B	1.47B	1.53B	1.64B	1.74B
Short-Term Borrowings	-	-	-	92M	77M
Current Portion of Long-Term Debt	8.91B	7.87B	9.99B	10.53B	12.04B
Current Portion of Leases	153M	131M	158M	2.69B	2.58B
Current Income Taxes Payable	243M	178M	227M	156M	332M
Unearned Revenue, Current	187M	-	-	-	-
Other Current Liabilities - (Bank / Utility Template)	3.3B	3.15B	6.49B	7.8B	6.18B
Total Current Liabilities	19.13B	17.93B	24.35B	28.84B	28.07B
Long-Term Debt	30.44B	30.76B	31.28B	36.39B	36.46B
Long-Term Leases	1.61B	1.93B	2.25B	2.29B	2.49B
Unearned Revenue Non Current	1.81B	1.5B	1.68B	1.56B	1.57B
Pension & Other Post Retirement Benefits	2.66B	2.32B	1.59B	1.23B	1.46B
Deferred Tax Liability Non-Current	9.36B	9.61B	11.36B	11.68B	7.38B
Other Non Current Liabilities, Total	10.16B	11.26B	13.11B	14.58B	12.31B
Total Liabilities	75.17B	75.3B	85.63B	96.55B	89.74B
Common Stock, Total	4.77B	4.76B	4.78B	4.77B	4.76B
Additional Paid In Capital	14.51B	14.36B	14.22B	14.07B	13.92B
Retained Earnings	22.48B	23.67B	25.58B	27.11B	28.58B
Treasury Stock	-1.44B	-1.98B	-1.86B	-1.76B	-1.46B
Comprehensive Income and Other	-2.65B	-5.4B	-2.23B	-3.08B	-2.69B
Total Common Equity	37.68B	35.41B	40.48B	41.12B	43.11B
Minority Interest	9.52B	11.81B	15.65B	17B	17.18B
Total Equity	47.19B	47.22B	56.13B	58.11B	60.29B
Total Liabilities And Equity	122B	123B	142B	155B	150B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	6.43B	6.33B	6.35B	6.3B	6.29B
ECS Total Common Shares Outstanding	6.34B	6.26B	6.28B	6.3B	6.22B
Book Value / Share	5.95	5.65	6.44	6.53	6.93
Tangible Book Value	17.31B	17.19B	20.57B	21B	22.86B
Tangible Book Value Per Share	2.73	2.74	3.27	3.34	3.68
Total Debt	41.12B	40.69B	43.68B	51.98B	53.65B
Net Debt	38.39B	36.7B	38.16B	44.51B	49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.04B	1.73B	688M	444M	654M
Debt Equivalent Oper. Leases	114M	88M	80M	136M	168M
Minority Interest, Total (Incl. Fin. Div)	9.52B	11.81B	15.65B	17B	17.18B
Equity Method Investments, Total	1.98B	1.15B	1.07B	900M	1.31B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	1.14B	1.11B	1.19B	1.33B	1.21B
Inventories - Work In Process, Total	241M	264M	161M	197M	58M
Inventories - Finished Goods, Total	8.08M	22M	12M	2M	21M
Inventories - Others	1.3B	1.21B	1.44B	799M	1.51B
Land - (BS)	2.54B	2.5B	2.73B	3.03B	3.04B
Machinery, Total	98.97B	102B	111B	118B	117B
Full Time Employees	34.74K	35.64K	38.7K	40K	41K
Part Time Employees	632	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	685M	748M	1.04B	1.3B	1.18B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.41B	3.61B	3.88B	4.34B	4.8B
Depreciation, Depletion & Amortization	2.97B	3.18B	3.31B	3.63B	3.66B
Amortization of Goodwill and Intangible Assets - (CF)	748M	604M	679M	846M	833M
Total Depreciation, Depletion & Amortization	3.72B	3.79B	3.99B	4.48B	4.5B
Amortization of Deferred Charges, Total	163M	190M	211M	212M	223M
(Gain) Loss On Sale of Asset - (CF)	-149M	-31M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-51.88M	-498M	8M	2M	4M
Total Asset Writedown	-18.95M	31M	28M	2M	59M
Restructuring Activities	35.26M	28M	22M	34M	75M
(Income) Loss On Equity Investments - (CF)	-8.15M	4M	39M	-146M	-239M
Change in Accounts Receivable	-963M	-696M	-4.71B	-1.7B	314M
Change In Inventories	-345M	46M	52M	521M	-168M
Change in Accounts Payable	-500M	440M	1.93B	44M	-517M
Change in Other Net Operating Assets (Collected)	-	-	-	-	-
Other Operating Activities	1.69B	1.46B	2.7B	2.75B	3.11B
Net Cash From Discontinued Operations	-56.43M	-25M	-45M	-96M	-28M
Cash from Operations	6.92B	8.35B	8.11B	10.44B	12.13B
Capital Expenditure	-5.39B	-5.55B	-6.47B	-6.47B	-7.72B
Cash Acquisitions	-	-391M	-536M	-	-53M
Divestitures	-	114M	21M	-	239M
Purchase / Sale of Intangible Assets	-411M	-446M	-591M	-510M	-541M
Sale (Purchase) of Real Estate Properties (Collected)	-2.67M	-2M	-3M	-1M	-3M
Investment in Marketable and Equity Securities, Total	-1.28B	28M	-1.54B	-2.53B	-1.06B
Other Investing Activities, Total	-294M	-393M	-370M	-651M	-560M
Cash from Investing	-7.38B	-6.64B	-9.49B	-10.15B	-9.69B
Long-Term Debt Issued, Total	16.1B	14.91B	12.76B	14.96B	11.85B
Total Debt Issued	16.1B	14.91B	12.76B	14.96B	11.85B
Long-Term Debt Repaid, Total	-15.11B	-10.72B	-7.9B	-10.62B	-9.56B
Total Debt Repaid	-15.11B	-10.72B	-7.9B	-10.62B	-9.56B
Issuance of Common Stock	164M	127M	73M	91M	110M
Repurchase of Common Stock	-1.5B	-2.71B	-1.9B	-1.88B	-2.79B
Common Dividends Paid	-330M	-562M	-570M	-859M	-949M
Common & Preferred Stock Dividends Paid	-330M	-562M	-570M	-859M	-949M
Special Dividend Paid	-	-	-	-31M	-
Other Financing Activities, Total	404M	-1.11B	-592M	-1.5B	-2.75B
Cash from Financing	-277M	-71M	1.87B	151M	-4.09B
Foreign Exchange Rate Adjustments	55.97M	-318M	119M	135M	62M
Net Change in Cash	-688M	1.31B	606M	575M	-1.59B
Supplemental Items
Cash Interest Paid	889M	842M	884M	1.72B	2.27B
Cash Income Tax Paid (Refund)	797M	843M	832M	1.06B	1.49B
Net Debt Issued / Repaid	988M	4.19B	4.86B	4.33B	2.29B
Levered Free Cash Flow	989M	526M	-666M	5.43B	-4.55B
Unlevered Free Cash Flow	1.64B	1.14B	38.25M	6.49B	-3.25B
Change In Net Working Capital	47.38M	296M	1.74B	-3.74B	5.34B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.07	2.82	3.47	3.36	3.74
Return on Total Capital	4.25	3.92	4.89	4.71	5.03
Return On Equity %	8.51	8.41	8.49	8.98	9.15
Return on Common Equity	9.35	9.73	9.92	10.39	10.97
Margin Analysis
Gross Profit Margin %	44.63	48.71	43.62	37.44	47.23
SG&A Margin	13.91	15.23	13.46	11.4	14.19
EBITDA Margin %	25.66	27.68	28.56	22.73	26.96
EBITA Margin %	17.91	18.51	20.48	16.32	19.91
EBIT Margin %