May 2026
đź“Ł VC round data is live. Check it out!
 | Since completing the transformative deal with RWE in 2019, E.On has two core businesses: energy networks and customer solutions. Its retail supply serves around 47 million customers primarily in Germany, the United Kingdom, Eastern Europe, the Netherlands, Belgium, and Sweden. Its networks business operates in Germany, Sweden, Eastern Europe, and Turkey. | $21 | +16% | $55B | $48B | 0.5x | 4.2x | ||
| Since the deal with E.On, RWE is refocused on power generation, mostly in Europe. It owns 38 gigawatts of power generation capacity: 17% from lignite and hard coal plants, 36% from gas plants, 40% from renewables including pumped storage and batteries. Besides Germany, RWE’s power plants are chiefly located in the United Kingdom, the Netherlands, Turkey, and the United States for many onshore wind farms. | $64 | +57% | $46B | $50B | 2.4x | 6.3x | ||
| EnBW Energie Baden-Wuerttemberg AG is active in the energy sector in Germany and the rest of Europe. It operates in three segments: Smart Infrastructure for Customers, which comprises the sale of electricity and gas, energy industry services and energy solutions, provision and expansion of quick-charging infrastructure and digital solutions for electromobility, broadband activities; System Critical Infrastructure segment is into the transmission and distribution of electricity and gas; and Sustainable Generation Infrastructure segment, which generates maximum revenue, encompasses activities in the areas of renewable energies and conventional generation, district heating and waste management/environmental services. Geographically, the company generates maximum revenue from Germany. | $81 | +1% | $26B | $39B | 1.0x | 5.6x | ||
| Uniper SE is a Germany-based energy generation and energy trading company. The firm operates through three segments: Flexible Generation, Greener commodities, and Green Generation. The Green Generation segment comprises emission-free power generation plants that the Uniper Group operates in Europe. The Flexible Generation segment comprises the power and heat generation plants that the Uniper Group operates in Europe to flexibly meet grid operators' requirements. The Greener Commodities segment bundles the energy trading and optimization activities and forms the commercial interface between the Uniper Group and the globally traded markets for energy and the major customers. The majority of revenue is derived from the Greener Commodities segment. | $56 | +31% | $23B | $15B | 0.2x | 5.9x | ||
| Mainova AG is engaged in the distribution of electricity. In addition, Mainova supplies regional energy supply companies, as well as nationwide business customers, with electricity, gas, and energy-related services. The company is organized into three business segments - Heat and Power Generation, Power Supply, and Gas Supply. The majority of its revenue is derived from the Power Supply segment. | $414 | 0% | $3B | $4B | 0.9x | 14.6x | ||
| Lechwerke AG is a regional energy supplier in Bavaria and parts of Baden-Wurttemberg. The company offers both electricity and gas products as well as all energy-related services such as contracting, energy certificates and energy controlling. The company also works in the field of street lighting as well as the development and implementation of energy efficiency projects and comprehensive energy concepts. | $80 | -1% | $3B | $3B | 2.0x | 12.5x | ||
| MVV Energie AG is an energy generator, distributor and service provider. The company's portfolio covers various areas of the energy industry value chain: from energy generation and trading through to distribution via proprietary grid companies and the marketing of energy solutions to various customer groups. It also has water production and distribution activities. Its business is managed in the reporting segments of Customer Solutions, New Energies, Generation and Infrastructure and Other Activities. The majority of revenue is generated from the Customer Solutions segment, which includes its retail and secondary distribution businesses for electricity, heat, gas and water. Geographically, the maximum revenue is generated from Germany. | $35 | +3% | $2B | $4B | 0.6x | 6.7x | ||
| Gelsenwasser AG is engaged in supplying their customers with drinking and process water as well as with natural gas and heating to households, businesses, public institutions, and industry. It also performs wastewater disposal and electricity supply functions. The company generates revenue mostly from gas and water. | $634 | -4% | $2B | $3B | 0.7x | 10.6x | ||
| Fernheizwerk Neukoelln AG is a German company which offers heating services to the city of Berlin. The company operates a grid of steam and hot water pipes throughout the city. | $23 | -17% | $52M | $42M | 0.5x | 2.9x | ||
| Faveos SE is a Germany-based company. It independent electricity producer, It focuses on renewable energies. It develops, implements, and operates ground-mounted PV, agri-PV, and wind turbines. It not only relies on technologies but also research in the field of electricity storage. | $13 | -2% | $20M | $19M | 80.1x | (29.0x) | ||
| AHT Syngas Technology NV plans builds and manages decentralised power plants from compact, biomass-powered container solutions for agriculture to medium-sized electricity generation plants intended for jungle environments. | $4 | -34% | $9M | $9M | 0.9x | (2.5x) | ||
| Aleia Holding AG is engaged in the development and implementation of projects in the field of renewable energy and resource conversation and renewable energies, in particular biogas and wind energy. | $0 | -6% | $3M | $3M | 2804.6x | (41.5x) | ||
| DWK Deutsche Wasserkraft AG is a German energy company with roots in Norway and Germany. By building up its portfolio of hydroelectric power plants it creates sustainable added value for the environment and the common good. With hydropower, the company uses a stable and cost-efficient source of electricity generation that does not produce any CO2 emissions. The company develops, acquires and operates small run-of-river power plants and supports co-investors in the purchase, operation and possible sale. | $1 | -54% | $2M | $3M | - | (10.7x) | ||
| Median | $35 | -1% | $2B | $3B | 0.9x | 5.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.