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German power generator and one of the world's largest renewable energy developers, operating wind, solar, gas and coal plants.
German power generator and one of the world's largest renewable energy developers, operating wind, solar, gas and coal plants.
Sells power from its wind, solar and gas plants under long-term contracts with companies and utilities or on wholesale markets, while a trading arm earns on price swings. After the 2020 asset swap with E.ON it dropped grid and retail to focus on generation. It agreed to end coal power in western Germany by 2030, with state compensation; Qatar Investment Authority is a major shareholder.
In one line: Germany's NextEra Energy (generation-focused).
Moat: narrow (scale, installed base, regulatory licence). Large existing generation fleet and renewable project pipeline, but power prices and subsidies are policy-dependent.
Headquarters: Essen, Germany · Founded: 1898 · Employees: 20,120
Size Rwe (RWE.DE) is a Germany Utilities company (Electric Utilities) with a market value of $50.4B, the 16th largest of 205 Germany companies the cockpit tracks. Shares closed at €57.64 on 6 Nov 2026.
Performance Over six months the shares gained 2.0%, against +3.7% for the median peer and +2.6% for the Germany market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 34.1% over the last twelve months (peer median +6.5%); the operating margin is 0.3% (peer median 23.6%).
Valuation It trades at 18.6× forward earnings against a peer median of 18.4× (9th most expensive of 21).
Capital Return on invested capital runs 5.0 points below its cost of capital (5.0% WACC).
Credit Rwe has 13 bonds outstanding ($9.63B), rated Baa2 by the agencies and trading like AA- at a weighted spread of 81 bp.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €15.2B | €17.6B | €24.2B | €28.5B | €38.4B |
| Revenue growth | — | -27% | -15% | -26% | — |
| Gross profit | €47.0M | €1.40B | €4.21B | €6.32B | €3.46B |
| EBITDA | €3.05B | €2.92B | €6.40B | €6.03B | €1.18B |
| Net income | €3.23B | €3.13B | €5.13B | €1.51B | €2.72B |
| Free cash flow | -€3.98B | -€5.06B | -€2.76B | -€923M | -€897M |
| Capital expenditure | €10.1B | €10.0B | €9.38B | €5.15B | €3.30B |
| Total debt | €24.0B | €17.0B | €15.8B | €15.6B | €17.2B |
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 |
|---|---|---|---|---|---|---|
| Rwe RWE.DE | $50.4B | +2% | -34% | 0% | 18.6× | n/a |
| E.on EOAN.DE | $55.9B | +4% | -8% | 7% | 17.5× | n/a |
| ENBW Energie Baden-Wuerttemberg EBK.DE | $24.2B | -3% | +9% | 5% | n/a | 5.2% |
| Iberdrola IBE.MC | $168B | +16% | +1% | 21% | 21.9× | 11.4% |
| Orsted ORSTED.CO | $29.5B | -8% | +15% | 2% | 20.4× | n/a |
| NextEra Energy NEE | $182B | -6% | +13% | 30% | 21.0× | 18.8% |
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 | RWE.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | +8.5% | 2nd lowest of 21 |
| 6-month return | +2.0% | +3.7% | 10th lowest of 21 |
| Distance from 52-week high | -7.0% | -6.5% | 10th lowest of 21 |
| Revenue growth (TTM) | -34.1% | +6.5% | lowest of 21 |
| Operating margin | 0.3% | 23.6% | lowest of 21 |
| Forward P/E | 18.6× | 18.4× | 9th most expensive of 21 |
| ROIC minus cost of capital | -5.0 pp | -1.1 pp | 2nd lowest of 21 |
| EV / EBITDA | 21.0× | 13.6× | 2nd most expensive of 19 |
| Net debt / EBITDA | 3.7× | 5.0× | 4th least indebted of 19 |
| Bond spread | 81 bp | 84 bp | 6th tightest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
| E.on EOAN.DE | Germany | $55.9B | +4% | -8% | 7% | 17.5× | n/a | n/a |
| Consolidated Edison ED | United States | $43.7B | +12% | +10% | 18% | 18.5× | n/a | n/a |
| Sse SSE.L | United Kingdom | $43.2B | +7% | +1% | 19% | 14.2× | n/a | n/a |
| Dominion Energy D | United States | $60.3B | +12% | +23% | 29% | 18.7× | n/a | n/a |
| Vistra VST | United States | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% | +10.1% |
| Adani Power ADANIPOWER.NS | India | $41.6B | -11% | +8% | 23% | 29.4× | n/a | n/a |
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |
| American Electric Power AEP | United States | $68.9B | -3% | +10% | 24% | 18.5× | n/a | n/a |
| Engie ENGI.PA | France | $69.0B | -11% | -5% | 13% | 11.7× | 5.8% | +10.2% |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| CGN Power 003816.SZ | China | $33.1B | +4% | -20% | 30% | 22.4× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
| National Grid NG..L | United Kingdom | $84.5B | -2% | -4% | 29% | 13.8× | n/a | n/a |
Rwe has 13 bonds outstanding with $9.63B face value. The agencies rate it Baa2; its bonds trade like AA-. Weighted yield 4.35%, a spread of 81 bp over government bonds.