E.on SE
ENAKFACTIVE ACQUIRERQUIETE.on SE reads as an Active Acquirer (composite 47/100); Selective Buyer deploying $0 across 0 disclosed transactions, running flat vs the prior cycle · primary market Energy Infrastructure.
Lens
Disclosed M&A capital (2023–2025)
N/A
vs N/A in 2020–2022
Disclosed transactions
N/A
0/3 active fiscal years in window
Buyer archetype
Selective Buyer
Acquisition use is visible but targeted.
Composite score
47
Active Acquirer dominates · Quiet
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
DominantCompanies actively deploying disclosed capital into M&A
- $30.5B disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
Target Probability
Issuers showing target-side patterns from filings
- Control-process language
- 2 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 2 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 2 activism filings
- Latest activism 25y ago; heavily discounted
- Control-process filings
Distress Watch
Issuers showing financial-distress filing patterns
- Missing recent 10-Q
- 10-K 7066d stale
- 2 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
Capital Velocity
Issuers with the highest filing-activity intensity
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $84.4B
- 3 active signals
Capital cadence.
No disclosed M&A capital in the 10-year window.
This issuer has not disclosed material acquisition spend or count in the last ten fiscal years.
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Horizontal Consolidation50%
- Geographic Expansion50%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- horizontal_consolidation
- geographic_expansion
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Following liberalization, significant consolidation has taken place in the German market, resulting in four major interregional utilities: E.ON, RWE AG, Vattenfall Europe AG (“Vattenfall Europe”) and EnBW Energie Baden-Württemberg AG (“EnBW”).”
“Since 1998, liberalization of the electricity markets in the EU has greatly altered competition in the German electricity market, which was formerly characterized by numerous strong competitors.”
“The total purchase price amounted to €7.6 billion (net of €0.2 billion cash acquired), and the assumption of €7.4 billion of debt”
“consolidation of distribution and sales activities and capitalizing on opportunities from power-gas convergence”
“E.ON announced that it would launch an all cash tender offer for 100 percent of the share capital of Endesa”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Energy Infrastructure
- Market spend (2023–2025)
- $86.6B
- Market spend (2020–2022)
- $40.3B
- Recent vs prior
- +115%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
ENAKF trades at a -3.4-turn discount to the Energy Infrastructure peer median of 12.9×.
- EV / Revenue
- 1.1×
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 19.9× | 11.8× | 9.3× | $1.5B | $1B | |
| 13.3× | 4.8× | -0.3× | $9.3B | $3.7B | |
SLB LimitedSLB | 12.5× | 2.5× | 0.9× | $35.9B | $5.8B |
E.on SEENAKF | 9.6× | 1.1× | N/A | $78.7B | N/A |
| 7.0× | 2.7× | -0.2× | $58.3B | $2.7B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)52007-03-07
- 10-Q (quarterly)0N/A
- 8-K (event)0N/A
- Proxy / DEF 14A0N/A
- Activism (13D / DFAN / PREC)22001-11-14
Signals on file
- elevated
Activism on file
2001-11-142 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
10-K strategy themes
- info
Signal
Recent transaction activity
- info
Signal
Control-process filings
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.