EDP Renováveis, S.A. (EDRVF)

EDP Renováveis, S.A. (EDRVF) — VMCI valuation read

Headline read on EDRVF: VMCI of 42/100 versus a Utilities sector median of 50. The 8-point below-median position is what makes EDP Renováveis, S.A. a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on EDRVF: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on EDRVF: value (EDRVF trades at 15.0x earnings, 17% below the Utilities median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Utilities median (10.0%)), and risk (net debt to EBITDA of -0.1x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Utilities 12.0x baseline.

EDRVF fell 3.0% over the trailing 7 days, with a +6.2% read on a 30-day basis.