GEK Terna
GEK Terna (GEKTERNA) closed at €39.82 on 26/10/2026, +3.43% on the day. Market cap €4.7bn, P/E 28.7, dividend yield 1.03%.
Why it moved on Mon 26 Oct
GEK Terna rose 3.43%, drawing investor interest in the wake of the successful issue of its new seven-year eurobond, which was heavily oversubscribed, according to same-day closing reports.
Source: pelop.gr · 26/10/2026
Key statistics
12 months to Jun 2026 unless a figure says otherwise
Profile
At the 26 Oct close- Market value
- €4.7bn
- Enterprise valueDec 2025est.
- €9bn
- Shares outstandingOct 2026
- 117.6m
- Revenue12 months to Jun 2026
- €4bn
- Employees
- 6,755
- Free float
- 70.9%
- Traded a day, 3-month average
- €16.1m
Valuation
12 months to Jun 2026- P/EFY2025
- 28.7×
- P/B
- 2.4×
- EV/Salesest.
- 2.3×
- EV/EBITDAest.
- 15.8×
- P/FCFFY2025
- —
- Dividend yield
- 1.0%
5 years, on reported full years: 6.0–25.5×, median 11.0×. Today 17.0×, higher than 68% of months.
not meaningful here
Margins
12 months to Jun 2026- GrossFY2025
- 11.3%
- EBITDA
- 14.3%
- Operating (EBIT)FY2025
- 7.7%
- Pre-tax
- 4.8%
- Net
- 3.9%
- Free cash flowFY2025
- −20.2%
Net margin = the shareholders' profit ÷ group revenue.
Returns
FY2025- ROE12 months to Jun 2026
- 7.8%
- ROCE
- 4.7%
- ROICest.
- 3.5%
- ROA
- 1.4%
- ROE, 5-year averageFY2021–25
- 28.7%
- Tax rate
- 25.3%
Financial health
Dec 2025- Cash
- €1.7bn
- Net debt
- €4.3bn
- Net debt ÷ EBITDA
- 7.5×
- Debt ÷ equity
- 299.0%
leases included
Growth
- Revenue, last yearFY2025
- +18.6%
- Revenue, last halfH1 2026
- +7.4%
- EPS, last yearFY2025
- −83.2%
- Revenue, 3 yearsFY2022–25, a year
- −0.7%
- Revenue, 5 yearsFY2020–25, a year
- +34.0%
- EPS, 3 yearsFY2022–25, a year
- −0.8%
Dividends
FY2025- Yield, last 12 months
- 1.0%
- Per share
- €0.400
- Payout
- 28.8%
- Covered by free cash flow
- −16.6×
- Years paid, last fiveFY2021–25
- 5
Trading and risk
From our closes, dividends reinvested- Total return, 1 year
- +73.9%
- 3 years, a year
- +47.6%
- 5 years, a year
- +34.1%
- 10 years, a year
- +34.9%
- Volatility, 1 year
- 30.6%
- Beta to the General Index
- 0.98×
- Deepest fall, 1 year / 5 years
- −18.4% / −22.1%
- 52-week range
- €23.00–€47.18
Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.
Financial charts
From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements
Loading the charts…
Valuation
no like-for-like peer| Metric | GEKTERNA |
|---|---|
| P/E | 28.7 |
| P/Bnew shares | 2.4 |
| P/Snew shares | 1.2 |
| EV/EBITDAnew concession | 15.8 |
| Dividend yield | 1.0% |
| Payout ratio | 28.8% |
| Gross margin | 11.3% |
| Operating margin | 7.7% |
| Net margin | 3.9% |
| ROE | 7.8% |
| Revenue growth (last full year) | 18.6% |
| Net debt | €4.3bn |
Peers: Motorway concessions
No other company listed in Athens runs this business; related ones can be ticked in.
The company
AI-draftedAthens-based infrastructure group. It operates 2,054 km of Greek motorway concessions (Attiki Odos, Egnatia, Nea Odos, Kentriki Odos), builds projects through TERNA, and generates and supplies electricity and natural gas through HERON. Greece provides 92% of revenue.
- Sep 2026H1 2026 revenue reached €2.10bn and adjusted EBITDA €356.3m.9,11
- Sep 2026Selected temporary contractor for two Northern Greece road PPPs worth about €560m.7
- Jul 2026€659.3m share capital increase by private placement, 32% above the initial target.5
- Jun 2026Binding strategic framework agreement with Rheinmetall Landsysteme for land defence systems.8
- May 2026Inaugural investment-grade ratings: Moody's Baa3 and S&P BBB-, both stable.3
- Mar 2026Acquired 12.76% of the Athens water utility EYDAP for €135m.1
- Chairman and CEO Georgios Peristeris holds 28.06% of the shares; the free float is 70.91%.4
- June 2026 adjusted group net debt was €4.48bn, versus €687.5m at the parent; the July equity raise is excluded.9
- One electricity-segment customer was 9.5% of turnover in 2025, against 11.1% in 2024.1
- The group employed 6,755 people at 30 June 2026, versus 6,149 at year-end 2025.1,9
- The investment programme totals €11bn and, management says, is fully funded.5
- 1.Annual Financial Report 2025GEK TERNA S.A. · 07/04/2026official
- 2.Financial Results FY 2025GEK TERNA S.A. · 07/04/2026official
- 3.Corporate Presentation May 2026GEK TERNA S.A. · 05/2026official
- 4.The Share and shareholder structureGEK TERNA S.A. · 10/09/2026official
- 5.GEK TERNA's €659.3 million capital raiseGEK TERNA S.A. · 01/07/2026official
- 6.Annual Financial Report 2024GEK TERNA S.A. · 28/04/2025official
- 7.Temporary contractor in two PPP projectsGEK TERNA S.A. · 07/09/2026official
- 8.Partnership agreement with RheinmetallGEK TERNA S.A. · 24/06/2026official
- 9.Interim Financial Report H1 2026GEK TERNA S.A. · 15/09/2026official
- 10.H1 2026 results presentationGEK TERNA S.A. · 15/09/2026official
- 11.H1 2026 results releaseGEK TERNA S.A. · 15/09/2026official