EDN

MKT CAP:$1B

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Market Cap

$1B

Utilities·Regulated Electric·🇦🇷 Argentina·NYSE

Utilities·Regulated Electric·🇦🇷·NYSE

Stock Price

$25.33-$4.45 (-14.94%)

Apr 24, 2026

Company Details

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima engages in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercia...

CEO

Daniel Marx

IPO Date

Apr 26, 2007

Website

www.edenor.com

Key Metrics TTM

Revenue

$1.6B

+3845.2% YoY

Net Income

$104M

EPS (Diluted)

$2.47

Free Cash Flow

$45M

Revenue / Share

$35.71

Gross Margin

20.2%

Operating Margin

1.8%

Net Margin

6.6%

FCF Margin

2.8%

P/S

0.7x

P/E

10.7x

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Dec 30, 2025

$2.5B+70.9%EPS $4.59

Q4 2025

Mar 10, 2026

$636M+39.9%EPS $0.99

Q1 2025

Mar 31, 2025

$460MEPS $0.60

FY 2024

Apr 22, 2025

$1.5BEPS $5.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 15	$642.1K	-$292.3K	$402.5K
Q1 16	$2M	$250.8K	$171.7K
Q2 16	$2M	-$418.3K	-$1M
Q3 16	$2M	$6.2K	-$521.0K
Q4 16	$3M	$789.7K	$922.7K
Q1 17	$4M	$1M	$588.5K
Q3 17	$5M	$1M	$528.2K
Q4 17	$5M	$1M	$465.6K
Q1 18	$8M	$3M	$2M
Q4 18	$15M	$2M	-$1M
Q1 19	$12M	$2M	-$7.9K
Q2 19	$13M	$3M	$1M
Q4 24	$454M	$75M	$11M
Q1 25	$460M	$95M	$17M
Q4 25	$636M	$144M	-$240.8K

Valuation

Quarter	P/S	P/E
Q4 15	—	—
Q1 16	—	—
Q2 16	—	—
Q3 16	124.9x	—
Q4 16	148.3x	—
Q1 17	141.6x	—
Q3 17	130.7x	3538.0x
Q4 17	139.9x	2272.5x
Q1 18	115.8x	1568.6x
Q4 18	36.3x	416.2x
Q1 19	21.8x	315.5x
Q2 19	17.6x	80.9x
Q4 24	3.8x	52.2x
Q1 25	1.4x	22.1x
Q4 25	0.9x	13.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 15	$889.7K	$144.6K
Q1 16	$348.6K	$40.2K
Q2 16	$789.0K	$331.0K
Q3 16	$215.1K	-$117.8K
Q4 16	$759.7K	$75.7K
Q1 17	$100.8K	-$434.5K
Q3 17	$790.3K	$24.0K
Q4 17	$867.6K	$181.1K
Q1 18	$2M	$1M
Q4 18	$2M	-$1M
Q1 19	$446.3K	-$1M
Q2 19	$4M	$2M
Q4 24	$82M	-$10M
Q1 25	$54M	$54M

Capital Expenditures

Quarter	CapEx
Q4 15	$745.2K
Q1 16	$308.4K
Q2 16	$458.0K
Q3 16	$332.9K
Q4 16	$684.0K
Q1 17	$535.4K
Q3 17	$766.3K
Q4 17	$686.4K
Q1 18	$720.0K
Q4 18	$3M
Q1 19	$2M
Q2 19	$2M
Q4 24	$92M
Q1 25	$46M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 16	+344.7%	+706.6%
Q1 17	+79.5%	+65.3%
Q3 17	+137.7%	+37.3%
Q4 17	+98.3%	+48.0%
Q1 18	+177.9%	+214.0%
Q4 18	+295.5%	+399.1%
Q1 19	+147.5%	+179.4%
Q2 19	+169.7%	+171.2%
Q4 24	+5625.8%	+7205.8%
Q1 25	+2908.1%	+2610.1%
Q4 25	+5418.0%	+5416.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 15	$18.4K	2.9%
Q1 16	$14.9K	0.7%
Q2 16	$14.9K	0.8%
Q3 16	$14.9K	0.6%
Q4 16	$46.0K	1.6%
Q1 17	$15.8K	0.4%
Q3 17	$0	0.0%
Q4 17	$2.7K	0.1%
Q1 18	$43.3K	0.5%
Q4 18	$2.1K	0.0%
Q1 19	$7.8K	0.1%
Q2 19	$96.6K	0.7%
Q4 24	$0	0.0%
Q1 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 15	$159.5K	$168.4K	—
Q1 16	$158.6K	$208.6K	—
Q2 16	$196.7K	$341.0K	—
Q3 16	$223.9K	$244.5K	—
Q4 16	$244.4K	$373.3K	—
Q1 17	$229.4K	$360.7K	—
Q3 17	$272.9K	$317.6K	—
Q4 17	$295.8K	$482.1K	—
Q1 18	$284.5K	$507.8K	—
Q4 18	$800.0K	$2M	—
Q1 19	$413.4K	$1M	—
Q2 19	$548.2K	$1M	—
Q4 24	$39M	$28M	—
Q1 25	$40M	$37M	—
Q4 25	—	—	$86M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4M	$12M	$16M
Q2 22	$3M	$16M	$18M
Q3 22	$5M	$17M	$22M
Q4 22	$4M	$64M	$68M
Q1 23	$5M	$22M	$27M
Q2 23	$3M	$27M	$30M
Q3 23	$6M	$38M	$43M
Q4 23	$7M	$60M	$66M
Q1 24	$18M	$16M	$34M
Q2 24	$1M	$126M	$128M
Q3 24	$2M	$180M	$182M
Q4 24	$17M	$269M	$286M
Q1 25	$8M	$261M	$268M
Q2 25	$43M	$237M	$279M
Q3 25	$27M	$322M	$349M
Q4 25	$149M	$424M	$574M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 15	45M	—	—
Q1 16	45M	+0.0%	—
Q2 16	45M	-0.0%	—
Q3 16	45M	0.0%	—
Q4 16	45M	0.0%	0.0%
Q1 17	45M	+0.0%	+0.0%
Q3 17	45M	+0.2%	+0.2%
Q4 17	45M	0.0%	+0.2%
Q1 18	45M	+0.0%	+0.2%
Q4 18	44M	-1.7%	-1.5%
Q1 19	44M	-0.2%	-1.9%
Q2 19	44M	-0.7%	-2.6%
Q4 24	44M	+0.1%	-2.6%
Q1 25	44M	0.0%	-0.9%
Q4 25	44M	0.0%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 15	$137	5K
Q1 16	$459	5K
Q2 16	$417	5K
Q3 16	$523	5K
Q4 16	$609	5K
Q1 17	$824	5K
Q3 17	$992	5K
Q4 17	$1.0K	5K
Q1 18	$1.7K	5K
Q4 18	$2.1K	7K
Q1 19	$1.6K	7K
Q2 19	$1.8K	7K
Q4 24	$60.8K	7K
Q1 25	$61.6K	7K
Q4 25	$85.1K	7K

Revenue / Employee