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Swiss regional electric utility distributing and generating power (mainly hydro) in the canton of Vaud.
Swiss regional electric utility distributing and generating power (mainly hydro) in the canton of Vaud.
Revenue comes from regulated fees for using its power grid in Vaud, from selling electricity to households and companies there, and from running its own plants. Public authorities in Vaud are its largest shareholders.
In one line: A regional electric utility like a smaller regional US power company.
Moat: wide (regulatory licence, scale). Regulated regional monopoly distributor with owned hydro generation assets in its service territory.
Headquarters: Morges, Switzerland · Founded: 1901 · Employees: 1,512
Size Romande Energie (REHN.SW) is a Switzerland Utilities company (Electric Utilities) with a market value of $1.68B, the 102nd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 48.30 on 6 Nov 2026.
Performance Over six months the shares fell 1.4%, against -20.6% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 2.2% over the last twelve months (peer median -0.2%); the operating margin is 7.7% (peer median 8.0%).
Valuation It trades at 15.1× forward earnings against a peer median of 11.1× (5th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.9 points below its cost of capital (5.0% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 816M | CHF 796M | CHF 835M | CHF 918M | CHF 738M |
| Revenue growth | — | -5% | -9% | +24% | — |
| Gross profit | CHF 129M | CHF 121M | CHF 98.2M | CHF 176M | CHF 113M |
| EBITDA | CHF 179M | CHF 152M | CHF 121M | CHF 192M | CHF 122M |
| Net income | CHF 87.1M | CHF 79.5M | CHF 24.2M | CHF 148M | CHF 36.8M |
| Free cash flow | CHF 45.9M | CHF 2.52M | -CHF 6.16M | -CHF 49.9M | -CHF 1.56M |
| Capital expenditure | CHF 164M | CHF 167M | CHF 163M | CHF 193M | CHF 174M |
| Total debt | n/a | CHF 339M | CHF 345M | CHF 195M | CHF 210M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Romande Energie REHN.SW | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% |
| Bkw BKW.SW | $8.12B | -17% | -5% | 11% | 14.1× | 1.6% |
| naturenergie NEAG.SW | $1.17B | -12% | -16% | 13% | 12.1× | -15.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | REHN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.8% | -4.9% | 5th highest of 21 |
| 6-month return | -1.4% | -20.6% | 4th highest of 20 |
| Distance from 52-week high | -9.2% | -38.2% | highest of 21 |
| Revenue growth (TTM) | +2.2% | -0.2% | 8th highest of 21 |
| Operating margin | 7.7% | 8.0% | 11th highest of 21 |
| Forward P/E | 15.1× | 11.1× | 5th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 7.4% | -1.0% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +7.2% | +6.1% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +0.2 pp | -5.4 pp | 5th most demanding of 14 |
| ROIC minus cost of capital | -2.9 pp | -0.1 pp | 5th lowest of 21 |
| EV / EBITDA | 9.1× | 7.4× | 2nd most expensive of 7 |
| Net debt / EBITDA | 1.3× | 4.3× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Chongqing Three Gorges Water Conservancy and Electric Power 600116.SS | China | $1.73B | -8% | +4% | 6% | 18.8× | -2.5% | +14.1% |
| Dynagreen Environmental Protection 601330.SS | China | $1.63B | -4% | +11% | 31% | 14.8× | -3.5% | +9.2% |
| Beijing Jingneng Clean Energy 0579.HK | Hong Kong | $1.74B | -27% | -1% | 18% | 4.7× | -1.0% | +3.5% |
| CESC CESC.NS | India | $1.77B | -32% | +9% | 12% | 9.9× | n/a | n/a |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| Jiangsu New Energy Development 603693.SS | China | $1.56B | -21% | -3% | 35% | 20.9× | 0.7% | +6.1% |
| Harbin Hatou Investment 600864.SS | China | $1.56B | -18% | 0% | -17% | n/a | -17.2% | -3.8% |
| Datang Huayin Electric Power 600744.SS | China | $1.83B | -30% | -10% | 6% | n/a | n/a | n/a |
| Guangdong Baolihua New Energy Stock 000690.SZ | China | $1.87B | +9% | +1% | 14% | 11.1× | -11.6% | +3.9% |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |
| HCIG Energy Investment 000600.SZ | China | $2.01B | -31% | -12% | 9% | 11.1× | n/a | n/a |
| Jinneng Holding Shanxi Electric Power 000767.SZ | China | $1.40B | -20% | -6% | 6% | n/a | 2.5% | +5.6% |
| Xinjiang Tianfu Energy 600509.SS | China | $1.40B | -16% | +9% | 7% | 14.7× | -4.3% | +11.5% |
| Hokkaido Electric Power Company,Incorporated 9509.T | Japan | $1.38B | +5% | -1% | 4% | 7.3× | n/a | n/a |
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| Henan Yuneng 001896.SZ | China | $2.14B | -39% | -6% | 5% | n/a | n/a | n/a |