Verbund AG (VER)
Wiener Börse · Utilities · analysed October 13, 2026
Founded in 1947, Verbund AG is Austria's largest electricity utility and one of Europe's leading producers of hydroelectric power. The company operates across electricity generation, trading, and sales, generating nearly all of its energy from renewable sources—primarily hydro, supplemented by wind and solar—while managing the national high-voltage transmission grid through its subsidiary, Austrian Power Grid. Under its strategic "Mission V" plan, Verbund is currently focused on accelerating capital investments to expand its solar and wind capacity, build out pumped-storage energy facilities, and modernize grid infrastructure to support European energy transition and stability goals.
Executive summary
Verbund AG is Austria's leading utility, generating over 90% of its electricity from low-cost run-of-river and Alpine pumped-storage hydropower alongside owning the national transmission system operator Austrian Power Grid AG1,6. The company operates with a strong balance sheet with a debt-to-equity ratio of 0.32 and healthy net margins of 18.59%, but faces a sustained earnings contraction as crisis-era forward power hedges roll off1. Trading at a forward price-to-earnings ratio of 19.75x, the stock carries a distinct valuation premium over European utility peers despite consensus projecting an earnings decline of 19.11% for the coming year1,7.
Sources cited here, 3 of 28
- 1verbund.com
- 6verbund.com
- 7morningstar.com
Key figures
- Market cap
- $24.7B
- P/E, trailing
- 18.2
- P/E, next 12 months
- 19.8
- Revenue growth, last fiscal year
- -2.8%
- Net margin, last fiscal year
- 18.6%
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