To the full analysis
Terna - Rete Elettrica Nazionale Società per Azioni stock: balance sheet and debt
TRN.MITerna - Rete Elettrica Nazionale Società per Azioni has a debt to equity ratio of 1.5 and an interest coverage of 6x.
Daily figure as of 13 Nov 2026
Debt / Equity
1.5
Interest coverage
6x
Current ratio
0.92
Cash & equivalents
$2.84B
Total assets
$33.25B
Equity ratio
26%
Goodwill
$386.84M
Plus intangible assets of $1.05B
Net debt
$10.09B
Total assets and equity ratio
How large the balance sheet of Terna - Rete Elettrica Nazionale Società per Azioni is, how much of it is equity and how much is goodwill from acquisitions.
Equity ratio
Figures as a table
| Year | Total assets | Goodwill and intangible assets | of which goodwill | Equity ratio | Net debt |
|---|---|---|---|---|---|
| 2006 | $6.95B | not reported separately | not reported separately | 30.3% | $2.44B |
| 2007 | $8.91B | $426.29M | $248.21M | 28.3% | $2.79B |
| 2008 | $10.48B | $535.43M | $225.94M | 22.9% | $3.69B |
| 2009 | $10.33B | $412.43M | $210.76M | 26.8% | $4.14B |
| 2010 | $11.94B | $521.47M | $210.76M | 25.6% | $5.62B |
| 2011 | $14.06B | $521.8M | $210.76M | 21.7% | $6.13B |
| 2012 | $16.79B | $521.25M | $210.76M | 18.4% | $7.28B |
| 2013 | $16.33B | $511.72M | $210.76M | 20.0% | $7.93B |
| 2014 | $16.69B | $501.42M | $210.76M | 20.5% | $8.6B |
| 2015 | $17.13B | $576.32M | $248.55M | 21.6% | $9.69B |
| 2016 | $17.88B | $571.78M | $254.97M | 22.0% | $9.05B |
| 2017 | $18.87B | $560.37M | $254.97M | 22.5% | $8.52B |
| 2018 | $19.13B | $575.55M | $254.97M | 23.5% | $8.59B |
| 2019 | $20.04B | $856.34M | $254.97M | 23.4% | $8.93B |
| 2020 | $22.93B | $895.34M | $254.97M | 21.3% | $10B |
| 2021 | $24.81B | $1.01B | $284.23M | 21.0% | $10.94B |
| 2022 | $25.3B | $1.14B | $278.69M | 27.0% | $10.36B |
| 2023 | $26.01B | $960.94M | $279.57M | 27.0% | $12.46B |
| 2024 | $30.13B | $1.09B | $278.02M | 27.7% | $12.32B |
| 2025 | $33.25B | $1.43B | $386.84M | 26.0% | $10.09B |
The equity ratio divides total equity, including non-controlling interests, by total assets. Net debt is debt minus cash and short-term investments; a negative figure means cash exceeds debt.
Equity and debt
What the company owns and owes
- Cash & equivalents
- Equity
- Debt
Figures as a table
| Year | Cash & equivalents | Equity | Debt | Debt / Equity |
|---|---|---|---|---|
| 2006 | $42.9M | $2.11B | $2.48B | 1.18 |
| 2007 | $273.15M | $2.4B | $3.06B | 1.22 |
| 2008 | $871.63M | $2.3B | $4.56B | 1.9 |
| 2009 | $555.27M | $2.77B | $4.7B | 1.69 |
| 2010 | $166.88M | $3.06B | $5.78B | 1.89 |
| 2011 | $1.41B | $3.05B | $7.53B | 2.47 |
| 2012 | $2.81B | $3.1B | $10.09B | 3.26 |
| 2013 | $1.81B | $3.26B | $9.74B | 2.99 |
| 2014 | $1.35B | $3.43B | $9.96B | 2.9 |
| 2015 | $481.36M | $3.68B | $10.17B | 2.74 |
| 2016 | $1.29B | $3.92B | $10.34B | 2.62 |
| 2017 | $2.2B | $4.21B | $10.72B | 2.53 |
| 2018 | $1.92B | $4.45B | $10.51B | 2.34 |
| 2019 | $1.75B | $4.64B | $10.67B | 2.28 |
| 2020 | $3.67B | $4.84B | $13.67B | 2.79 |
| 2021 | $2.82B | $5.19B | $13.76B | 2.64 |
| 2022 | $2.67B | $5.71B | $13.03B | 1.91 |
| 2023 | $1.93B | $7.01B | $14.39B | 2.05 |
| 2024 | $3.03B | $8.34B | $15.36B | 1.84 |
| 2025 | $2.84B | $8.61B | $12.93B | 1.5 |
Debt to equity divides debt by total equity, including non-controlling interests, as S&P calculates it. The equity column shows the part that belongs to shareholders.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 30 Sep 2008)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.