Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY) trades at $34.75. Terna S. p. A. Market cap: $23.27B, Sector: Utilities.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for TEZNY: TEZNY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TEZNY against Utilities peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
TEZNY: 1/1 perspectives are bearish.
How is this calculated? →Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY) Utility Operations & Dividend Profile
Terna - Rete Elettrica Nazionale S.p.A., an Italian utility, manages the national electricity transmission grid. With a 38.5% profit margin and a 3.95% dividend yield, the company focuses on grid development and maintenance, playing a vital role in Italy's energy infrastructure and facilitating the integration of renewable energy sources.
What Is the Investment Thesis for TEZNY?
Terna presents a stable investment opportunity within the regulated utilities sector. The company's core business of managing Italy's electricity transmission grid provides a consistent revenue stream, supported by regulated tariffs. A dividend yield of 3.95% offers an attractive income component. Growth catalysts include investments in grid modernization and expansion to accommodate increasing renewable energy sources. The company's international expansion efforts also present opportunities for revenue diversification. Potential risks include regulatory changes impacting tariff structures and macroeconomic factors affecting electricity demand. With a beta of 0.65, Terna exhibits lower volatility compared to the broader market. The company's focus on sustainable infrastructure development aligns with long-term energy transition trends.
Based on FMP financials and quantitative analysis
TEZNY Key Highlights
- Market capitalization of $23.27B reflects Terna's significant position in the Italian utilities market.
- P/E ratio of 18.5 indicates a reasonable valuation compared to earnings.
- Profit margin of 38.5% demonstrates efficient operations and strong profitability.
- Gross margin of 60.5% highlights the value-added nature of Terna's services.
- Dividend yield of 3.95% provides an attractive income stream for investors.
Who Are TEZNY's Competitors?
TEZNY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CKISF CK Infrastructure Holdings Limited | $8.60 | +0.00% | $21.67B | 45 |
| CKISY CK Infrastructure Holdings Limited | $43.70 | +0.46% | $22.02B | 45 |
| CLPHF CLP Holdings Limited | $9.28 | +2.77% | $23.44B | — |
| CLPHY CLP Holdings Limited | $9.56 | +2.03% | $24.15B | 45 |
| ELCPF EDP - Energias de Portugal, S.A. | $4.78 | -10.15% | $19.76B | 52 |
| CNLPM The Connecticut Light and Power Company | $32.99 | +1.29% | $315.00M | 72 |
| CNTHP The Connecticut Light and Power Company | $52.70 | +0.55% | $318.06M | 69 |
| CNLHP The Connecticut Light and Power Company | $36.95 | +0.00% | $223.00M | 68 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TEZNY's Key Strengths?
- Dominant position in the Italian electricity transmission market.
- Regulated business model provides stable cash flows.
- Expertise in grid management and technology.
- Strong financial performance and profitability.
What Are TEZNY's Weaknesses?
- Exposure to regulatory risks and changes in tariff structures.
- Dependence on the Italian economy.
- Potential delays in infrastructure projects.
- Exposure to currency risk from international investments.
What Could Drive TEZNY Stock Higher?
- Investments in grid modernization and expansion to accommodate increasing renewable energy capacity.
- Development and deployment of smart grid technologies to improve grid efficiency and reliability.
- International expansion into new markets through investments in electricity infrastructure projects.
- Potential regulatory changes supporting grid infrastructure development and renewable energy integration (timeline: within the next 1-2 years).
- Completion of key infrastructure projects, such as new high-voltage transmission lines, enhancing grid capacity and connectivity (timeline: project-specific, varying completion dates).
What Are the Key Risks for TEZNY?
- Financial-distress signal — its Altman Z-Score of 1.09 sits in the distress zone (elevated bankruptcy risk).
- Regulatory changes impacting tariff structures and revenue streams.
- Delays in infrastructure projects due to permitting issues or technical challenges.
- Increased competition from other utilities in certain market segments.
- Cybersecurity risks and potential grid vulnerabilities.
- Macroeconomic factors affecting electricity demand and investment decisions.
What Are the Growth Opportunities for TEZNY?
- Growth opportunity 1: Expansion of grid infrastructure to accommodate renewable energy sources: Italy is committed to increasing its renewable energy capacity, which requires significant investments in grid infrastructure to connect new renewable energy plants and ensure grid stability. Terna is well-positioned to benefit from this trend, with planned investments in grid modernization and expansion projects. This includes developing new high-voltage transmission lines and upgrading existing infrastructure to handle the intermittent nature of renewable energy sources. The market for grid infrastructure investments in Italy is estimated to be worth billions of euros over the next decade.
- Growth opportunity 2: Development of smart grid technologies: The adoption of smart grid technologies, such as advanced metering infrastructure (AMI) and real-time monitoring systems, is crucial for improving grid efficiency and reliability. Terna is investing in these technologies to enhance grid management and reduce energy losses. The smart grid market is expected to grow significantly as utilities seek to optimize grid operations and integrate distributed energy resources. Terna's expertise in grid management and its investments in smart grid technologies position it to capitalize on this growth opportunity.
- Growth opportunity 3: International expansion: Terna is expanding its operations internationally, primarily in Euro-area countries, through investments in electricity infrastructure projects. This diversification strategy reduces the company's reliance on the Italian market and provides access to new growth opportunities. Terna's international projects include the development of interconnectors and the acquisition of stakes in foreign grid operators. The international market for electricity infrastructure investments is substantial, with opportunities in both developed and emerging economies.
- Growth opportunity 4: Development of energy storage solutions: Energy storage technologies, such as batteries and pumped hydro storage, are becoming increasingly important for grid stability and reliability, especially with the growing penetration of renewable energy sources. Terna is exploring opportunities in energy storage to address the intermittency of renewable energy and improve grid resilience. The energy storage market is expected to grow rapidly as costs decline and performance improves. Terna's expertise in grid management and its relationships with technology providers position it to participate in this growth market.
- Growth opportunity 5: Provision of telecommunications services: Terna leverages its grid infrastructure to provide telecommunications services to other companies, generating additional revenue streams. This includes offering connectivity services and telecommunications systems to businesses and government agencies. The demand for telecommunications services is growing, driven by the increasing reliance on digital technologies and the need for reliable communication networks. Terna's existing infrastructure and its expertise in telecommunications make it well-positioned to expand its telecommunications business.
What Opportunities Does TEZNY Have?
- Investments in grid modernization and expansion to accommodate renewable energy.
- Development of smart grid technologies and energy storage solutions.
- International expansion into new markets.
- Provision of telecommunications services.
What Threats Does TEZNY Face?
- Increased competition from other utilities.
- Technological disruptions and the emergence of new grid technologies.
- Cybersecurity risks and potential grid vulnerabilities.
- Macroeconomic factors affecting electricity demand.
What Are TEZNY's Competitive Advantages?
- Monopoly position as the owner and operator of Italy's national transmission grid.
- Regulated business model provides stable and predictable revenue streams.
- High barriers to entry due to the capital-intensive nature of grid infrastructure.
- Expertise in grid management and technology.
- Strategic importance to Italy's energy security and transition.
What Does TEZNY Do?
Founded in 1999 and headquartered in Rome, Italy, Terna - Rete Elettrica Nazionale Società per Azioni is responsible for the planning, development, and maintenance of Italy's national electricity transmission grid. The company plays a critical role in ensuring the secure and reliable flow of electricity across the country. Terna operates through three segments: Regulated, Non-Regulated, and International. The Regulated segment focuses on the core business of electricity transmission and dispatching in Italy. The Non-Regulated segment includes activities such as telecommunications services, energy solutions, and the manufacturing of power transformers and cables. The International segment involves investments in electricity infrastructure projects outside of Italy, primarily in Euro-area countries. Terna's services include the operation and maintenance of high-voltage infrastructures, the design and production of power transformers, and the implementation of renewable energy projects. The company also provides connectivity services and telecommunications systems. Terna owns the national transmission grid and is actively involved in developing private interconnector projects to enhance grid connectivity and efficiency. With 6,376 employees, Terna is a key player in Italy's energy sector, supporting the country's energy transition and security.
What Products and Services Does TEZNY Offer?
- Manages and operates Italy's national electricity transmission grid.
- Plans and develops new electricity infrastructure projects.
- Maintains and upgrades existing high-voltage transmission lines.
- Ensures the secure and reliable flow of electricity across the country.
- Integrates renewable energy sources into the grid.
- Provides telecommunications services and connectivity solutions.
- Designs and produces power transformers and cables.
- Develops and implements smart grid technologies.
How Does TEZNY Make Money?
- Generates revenue from regulated tariffs for electricity transmission services.
- Earns revenue from non-regulated activities such as telecommunications and energy solutions.
- Receives payments for grid connections and capacity upgrades.
- Derives income from international investments in electricity infrastructure.
What Industry Does TEZNY Operate In?
Terna operates within the regulated electric utility industry, which is characterized by stable demand and regulated pricing. The industry is undergoing a significant transformation driven by the increasing integration of renewable energy sources and the need for grid modernization. Terna plays a crucial role in facilitating this transition in Italy. Competitors include other European utilities such as CKISF, CKISY, CLPHF, CLPHY, and ELCPF, which are also investing in grid infrastructure and renewable energy projects. The market is expected to grow as electricity demand increases and grids are upgraded to support distributed generation and electric vehicles.
Who Are TEZNY's Key Customers?
- Electricity generators, including renewable energy producers.
- Electricity distributors and retailers.
- Industrial and commercial consumers of electricity.
- Telecommunications companies and other businesses requiring connectivity services.
Company Profile
Terna - Rete Elettrica Nazionale Società per Azioni operates in the Regulated Electric industry within the Utilities sector. It is headquartered in Rome, IT. The company is led by CEO Giuseppina Di Foggia. TEZNY has traded publicly since 2012.
ROE 15%Key Financial Metrics
Return on equity for Terna - Rete Elettrica Nazionale Società per Azioni stands at 14.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 3.7%, showing how much profit it generates from its asset base. TEZNY trades at a trailing price-to-earnings ratio of 18.51, below the Utilities sector average of ~28x. Its free cash flow yield is -1.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.92 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 5.4%, the inverse of the P/E and a quick read on earnings relative to price.
TEZNY Valuation & Market Position
With a $23.27B market cap, Terna - Rete Elettrica Nazionale Società per Azioni sits in the large-cap segment of the market.
Quarterly Financial Performance: Terna - Rete Elettrica Nazionale Società per Azioni
Revenue for Terna - Rete Elettrica Nazionale Società per Azioni came in at $2.16B during Q4 2025, a 124.6% improvement versus the preceding quarter. The company recorded net income of $519.9M, with diluted EPS of $0.77. Quarter-over-quarter revenue has been mixed, typical for a large-cap company operating in Utilities. Across the four most recent quarters, TEZNY averaged $0.71 in diluted EPS.
F-Score 6/9Financial Health
Terna - Rete Elettrica Nazionale Società per Azioni's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.09 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project Terna - Rete Elettrica Nazionale Società per Azioni revenue of about $3.86B for fiscal 2026, with EPS near $0.00. The estimate reflects 18 contributing analysts.
TEZNY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Dominant position in the Italian electricity transmission market.
- Regulated business model provides stable cash flows.
- Expertise in grid management and technology.
- Strong financial performance and profitability.
Bear Case
- Exposure to regulatory risks and changes in tariff structures.
- Dependence on the Italian economy.
- Potential delays in infrastructure projects.
- Exposure to currency risk from international investments.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q4 2025 | $2.16B | $520M | $0.77 |
| Q2 2025 | $963M | $312M | $0.47 |
| Q4 2024 | $1000M | $517M | $0.77 |
| Q2 2024 | $1.75B | $545M | $0.81 |
Based on FMP financials and quantitative analysis
TEZNY Latest News
No recent news available for TEZNY.
TEZNY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for TEZNY.
Price Targets
Wall Street price target analysis for TEZNY.
TEZNY MoonshotScore
What does this score mean?
The MoonshotScore rates TEZNY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Giuseppina Di Foggia
Chief Executive Officer
Giuseppina Di Foggia is the Chief Executive Officer of Terna S.p.A. Her career spans various leadership roles within the energy and infrastructure sectors. She has a strong background in engineering and management, with experience in overseeing large-scale projects and driving operational efficiency. Her expertise includes strategic planning, risk management, and stakeholder engagement. She has also held positions in regulatory affairs and government relations, providing her with a deep understanding of the energy policy landscape. Before joining Terna, she held key positions at major Italian companies.
Track Record: Since becoming CEO, Giuseppina Di Foggia has focused on accelerating Terna's investments in grid modernization and renewable energy integration. She has overseen the implementation of several strategic initiatives aimed at improving grid resilience and efficiency. She has also led the company's international expansion efforts and strengthened its relationships with key stakeholders. Under her leadership, Terna has achieved significant milestones in its sustainability agenda and has been recognized for its commitment to environmental, social, and governance (ESG) principles.
Terna - Rete Elettrica Nazionale Società per Azioni ADR Information Unsponsored
An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company that trades on U.S. stock exchanges. TEZNY is an ADR representing shares of Terna - Rete Elettrica Nazionale Società per Azioni, an Italian company. This allows U.S. investors to invest in Terna without directly dealing with foreign exchanges.
- Home Market Ticker: Borsa Italiana (TEZN), Rome, Italy
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: TEZN
TEZNY OTC Market Information
TEZNY trades on the OTC Other tier of the over-the-counter (OTC) market. This tier represents securities that do not meet the listing requirements of higher tiers like OTCQX or OTCQB. Companies on the OTC Other tier may have limited financial disclosure and may not be subject to the same regulatory oversight as companies listed on major exchanges like the NYSE or NASDAQ. Investing in securities on the OTC Other tier carries higher risks due to the potential for limited information and liquidity.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure and potential for information asymmetry.
- Low trading volume and liquidity risk.
- Higher potential for price volatility.
- Weaker regulatory oversight compared to listed exchanges.
- Potential for fraud or manipulation.
- Verify the company's registration and legal status.
- Obtain and review available financial statements and disclosures.
- Assess the company's business model and competitive position.
- Evaluate the company's management team and track record.
- Understand the risks associated with investing in OTC securities.
- Consult with a financial advisor and conduct independent research.
- Check for any regulatory actions or legal proceedings against the company.
- Established business operations and history.
- Presence of a reputable management team.
- Availability of some financial information, even if limited.
- Positive news coverage or industry recognition.
- Listing on a recognized OTC platform.
TEZNY Utilities Stock FAQ
What does Terna - Rete Elettrica Nazionale Società per Azioni do?
Terna S.p.A. is responsible for the transmission and dispatching of electricity across Italy's high-voltage grid. The company ensures the reliable and secure flow of electricity from power plants to distribution networks, serving homes and businesses. Terna plans, develops, and maintains the national transmission grid, integrating renewable energy sources and investing in smart grid technologies to enhance efficiency and resilience. It also offers telecommunications and energy solutions, contributing to Italy's energy transition and security.
What do analysts say about TEZNY stock?
Analyst consensus on TEZNY stock is currently neutral, reflecting the company's stable position within the regulated utilities sector. Key valuation metrics include the P/E ratio of 18.5 and a dividend yield of 3.95%. Growth considerations center on Terna's investments in grid modernization and renewable energy integration, as well as its international expansion efforts. Analysts also monitor regulatory developments and macroeconomic factors that could impact the company's performance. No buy or sell recommendations are made here.
What are the main risks for TEZNY?
Terna faces regulatory risks related to potential changes in tariff structures, which could impact its revenue streams. Delays in infrastructure projects due to permitting issues or technical challenges also pose a risk. Cybersecurity threats and grid vulnerabilities are ongoing concerns, requiring continuous investment in security measures. Macroeconomic factors, such as changes in electricity demand and interest rates, can affect Terna's financial performance. Additionally, currency risk exists due to international investments.
What are the key factors to evaluate for TEZNY?
Evaluate TEZNY on fundamentals, analyst consensus, and risk factors. P/E: 18.5x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does TEZNY data refresh on this page?
TEZNY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven TEZNY's recent stock price performance?
Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Dominant position in the Italian electricity transmission market. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider TEZNY overvalued or undervalued right now?
Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY) trades at 18.5x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying TEZNY?
Before investing in Terna - Rete Elettrica Nazionale Società per Azioni (TEZNY), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis is pending and will provide further insights.
- OTC market data may have limited accuracy.