Valuation Trading Multiples & Precedent Transactions: Electric Power Generation Companies
Valuation benchmarks for Electric Power Generation Companies. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Electric Power Generation Companies Market Context & Valuation Drivers
Public companies in this comps group own, operate, and optimize fleets of utility‑scale power plants across renewable and thermal technologies. They generate and sell electricity into wholesale markets and under long‑term PPAs, often alongside energy trading and capacity services. They are comparable because valuation is driven by contracted cash flows, merchant price exposure, capacity factors, fuel mix, and asset scale within electric power generation.
Typical capabilities include operating hydropower dams, wind farms, solar PV plants, and gas‑ and coal‑fired thermal stations, with some nuclear assets or cogeneration facilities. Companies manage power marketing, hedging, and participation in capacity and ancillary services markets, while executing renewable development pipelines and repowering programs. They provide asset optimization and O&M, grid balancing and dispatch, heat supply, and increasingly invest in energy storage and green hydrogen to enhance reliability, flexibility, and contracted revenue visibility.
Primary customers include wholesale market operators and ISOs, regulated utilities and retail suppliers procuring capacity, and large industrial and commercial offtakers under PPAs. Key valuation benchmarks center on generation volumes and capacity factors, contracted versus merchant revenue mix, realized power prices and fuel costs, EBITDA margins and free cash flow, asset life and maintenance capex, leverage, and growth from new-builds, repowering, and renewable additions.
2. Valuation Analysis: Public Trading Comps & Multiples for Electric Power Generation Companies companies
2.1 - Public Peer Groups & Median Valuation Multiples for Electric Power Generation Companies sector
Comparable group 1: Electric Power Generation Companies
Verbund
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of electricity generation and trading services, focusing on hydropower and renewable energy solutions with an extensive network for transmission across Europe, aiming for sustainable energy transition.
- Key Products:
- Hydropower generation: Large-scale production of renewable energy through an extensive network of hydropower plants
- Electricity trading: Efficient management and trade of electricity across European markets
- Green hydrogen projects: Development of hydrogen production facilities in collaboration with industrial partners
- Energy management solutions: Provision of real-time energy management services and solutions
- Transmission network operations: Management and operation of one of the largest power grids in Austria.
Algonquin Power
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of diversified utility services including electricity generation, natural gas distribution, and water management, focused on sustainable energy solutions through a portfolio of rate-regulated and renewable energy assets across multiple regions.
- Key Products:
- Renewable Energy: Generates power from wind, solar, and hydroelectric sources
- Electricity Distribution: Operates electric utility systems to provide power supply
- Natural Gas Distribution: Delivers natural gas through regulated systems
- Water Services: Manages water and wastewater treatment facilities
- Utility Assets Management: Oversees a network of utility infrastructure for efficiency.