BKW BKW.SW
BKW is an integrated Swiss utility operating in renewable energy generation (hydro, wind, and solar), distribution networks, and energy services, with a diversified business model combining regulated infrastructure with market activities. BKW shows solid financial health (ND/EBITDA 1.50, score 8.28) and reasonable valuation (P/E 16.98, P/B 1.15), but the EBIT guidance cut, flat revenue growth (0.90%) and strongly negative momentum (-25.15%) weigh on its appeal; the rise in rates pressures a long-duration utility.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
BKW is an integrated Swiss utility operating in renewable energy generation (hydro, wind, and solar), distribution networks, and energy services, with a diversified business model combining regulated infrastructure with market activities. BKW shows solid financial health (ND/EBITDA 1.50, score 8.28) and reasonable valuation (P/E 16.98, P/B 1.15), but the EBIT guidance cut, flat revenue growth (0.90%) and strongly negative momentum (-25.15%) weigh on its appeal; the rise in rates pressures a long-duration utility.
Score by category
| Category | Score |
|---|---|
| Financial health | 8.0 |
| Quality / Moat | 4.2 |
| Valuation | 6.0 |
| Growth | 5.0 |
| Dividend | 7.0 |
| Momentum | 1.3 |
| Risk & Context | 8.7 |
OVERALL SCORE: 6.5/10
Context and risks
53% of the capital is held by the Swiss state; although institutional quality is high, majority state ownership introduces governance risk and potential political decisions in a strategic utility. The long-duration profile (P/E 16.98, utilities sector) is sensitive to the 10-year Treasury yield rising to 5.17%, which makes refinancing its debt (ND/EBITDA 1.50) more expensive and pressures the present value of its regulated cash flows.
News considered in the analysis
- BKW AG (BKWAF) (H1 2026) Earnings Call Highlights: Net Profit Rises 7% Despite EBIT Decline, ... — Resultados semestrales con beneficio neto al alza pese a la caída del EBIT; información mixta ya publicada y parcialmente en el precio.
- BKW AG (BKWAF) Full Year 2025 Earnings Call Highlights: Navigating Challenges and Strategic Growth — Resumen de resultados anuales ya conocidos y ampliamente cubiertos; sin información nueva.
- BKW (SWX:B9W) Is Down 11.2% After Cutting 2025 EBIT Guidance - What's Changed — Profit warning con recorte de guía de EBIT; el fuerte movimiento de la acción ya descuenta el impacto.
- BKW AG's (VTX:BKW) top owners are state or government with 53% stake, while 24% is held by individual investors — Participación estatal mayoritaria del 53% en Suiza; riesgo de gobernanza moderado por la calidad institucional, ya conocido.
- BKW's (VTX:BKW) 16% CAGR outpaced the company's earnings growth over the same five-year period — Observación retrospectiva sobre el crecimiento del precio frente a beneficios; sin información nueva.
Verdict: Hold; balance sheet strength and a sustainable dividend (payout 53.9%) offset weak growth, but wait for momentum and EBIT guidance to stabilise before adding.
Main risk: The main risk is the 53% state ownership in Switzerland, which may prioritise political goals over minority shareholder returns, along with the sensitivity of its utility valuation to rising interest rates.
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