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Terna SpA is an electricity transmission system operator that owns virtually all of the Italian National Transmission Grid. With a monopoly under an Italian government license, Terna transmits and dispatches electricity throughout the country. It is also responsible for the planning, construction, and maintenance of the nation's electrical grid. Terna segments its operations into its Regulated Activities, Non-Regulated Activities, and International Activities. The company generates the vast majority of its revenue from charging transmission fees as a part of its Regulated Activities. Under its Non-Regulated Activities, Terna mainly produces and sells electricity transformers. The company has also made efforts to expand its operations into Italy's neighboring countries and North Africa.
1999
5.9K+
LTM Revenue $4.0B
LTM EBITDA $2.8B
$28.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Terna has a last 12-month revenue of $4.0B and a last 12-month EBITDA of $2.8B.
In the most recent fiscal year, Terna achieved revenue of $3.4B and an EBITDA of $2.4B.
Terna expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Terna valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $3.1B | $3.4B | XXX | XXX | XXX |
| Gross Profit | $2.3B | $2.6B | XXX | XXX | XXX |
| Gross Margin | 73% | 76% | XXX | XXX | XXX |
| EBITDA | $2.2B | $2.4B | XXX | XXX | XXX |
| EBITDA Margin | 71% | 71% | XXX | XXX | XXX |
| Net Profit | $848M | $921M | XXX | XXX | XXX |
| Net Margin | 27% | 27% | XXX | XXX | XXX |
| Net Debt | $11.7B | $9.3B | XXX | XXX | XXX |
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As of April 15, 2025, Terna's stock price is EUR 8 (or $9).
Terna has current market cap of EUR 16.4B (or $17.7B), and EV of EUR 26.7B (or $28.7B).
See Terna trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $28.7B | $17.7B | XXX | XXX | XXX | XXX | $0.56 |
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Sign UpAs of April 15, 2025, Terna has market cap of $17.7B and EV of $28.7B.
Terna's trades at 7.1x LTM EV/Revenue multiple, and 10.3x LTM EBITDA.
Analysts estimate Terna's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Terna and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $28.7B | XXX | XXX | XXX |
| EV/Revenue | 8.5x | XXX | XXX | XXX |
| EV/EBITDA | 12.0x | XXX | XXX | XXX |
| P/E | 18.6x | XXX | XXX | XXX |
| P/E/Growth | 1.7x | XXX | XXX | XXX |
| EV/FCF | -22.6x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpTerna's NTM/LTM revenue growth is 6%
Terna's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Terna's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Terna's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Terna and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 71% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 77% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.6M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 38% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| TAQA | XXX | XXX | XXX | XXX | XXX | XXX |
| New Sources Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| AGL Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| APA Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Chrysos Corp. | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Terna acquired XXX companies to date.
Last acquisition by Terna was XXXXXXXX, XXXXX XXXXX XXXXXX . Terna acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Terna founded? | Terna was founded in 1999. |
| Where is Terna headquartered? | Terna is headquartered in Italy. |
| How many employees does Terna have? | As of today, Terna has 5.9K+ employees. |
| Who is the CEO of Terna? | Terna's CEO is Ms. Giuseppina Di Foggia. |
| Is Terna publicy listed? | Yes, Terna is a public company listed on MIL. |
| What is the stock symbol of Terna? | Terna trades under TRN ticker. |
| When did Terna go public? | Terna went public in 2004. |
| Who are competitors of Terna? | Similar companies to Terna include e.g. TAQA, New Sources Energy, AGL Energy, APA Group. |
| What is the current market cap of Terna? | Terna's current market cap is $17.7B |
| What is the current revenue of Terna? | Terna's last 12-month revenue is $4.0B. |
| What is the current EBITDA of Terna? | Terna's last 12-month EBITDA is $2.8B. |
| What is the current EV/Revenue multiple of Terna? | Current revenue multiple of Terna is 7.1x. |
| What is the current EV/EBITDA multiple of Terna? | Current EBITDA multiple of Terna is 10.3x. |
| What is the current revenue growth of Terna? | Terna revenue growth between 2023 and 2024 was 8%. |
| Is Terna profitable? | Yes, Terna is EBITDA-positive (as of the last 12 months). |
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