Acquisition of Sempra Solar Holdings, LLC
10-K - Feb 18, 2021
Acquisition of Sempra Solar Holdings, LLC, net of cash acquired — — (1,488)
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Consolidated Edison Inc.
EDActiveCIK 1047862 · Environmental Services Adjacency
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, ED filings, SEC EDGAR
$39,178
Market cap ($MM)
$66,208
Enterprise value ($MM)
$17,215
Revenue · LTM ($MM)
$6,975
EBITDA · LTM ($MM)
41%
EBITDA margin
3.8x
EV / revenue
9.5x
EV / EBITDA
0.1x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01ED is a scaled public consolidator in Adjacency, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is RBA, KEX, DCI, GRC, CHE, AQN.
Balance sheet & capacity
Indicative capacity read: 0.1x net debt / EBITDA with EBITDA of $7.0B.
$147
Cash & equiv. ($MM)
$869
Total debt ($MM)
$722
Net debt ($MM)
0.1x
Net debt / EBITDA
Valuation
Where it trades against its peer set
ED versus the scaled public Environmental Services Adjacency comparables.
Indexed share-price performance
ED versus available Environmental Services Adjacency peers and SPY.
+39%
ED
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Consolidated Edison Inc. | ED | $17,215 | $6,975 | 41% | $39,178 | $66,208 | 3.8x | 9.5x | 0.1x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
ED's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
3
Active years
3
Named deals
3
Avg / active year
1.0
Acq. cash outflow ($MM)
N/A
Banker read
- 01ED reads as a programmatic acquirer: 3 disclosed acquisitions across 3 active years, or 1.0 per active year. The chart shows activity in 3 of the last 3 visible years.
- 02In the last three years, the file shows 3 acquisitions versus 0 in the prior three; recent activity is the visible baseline.
- 03Spend is not clean enough for the visual yet, so the banker read should lean on cadence, named deals, and management language.
Annual acquisition count
count named deal
ED cadence shown by annual acquisition count because verified spend is N/A.
Program diagnostics
Recent / prior
3 / 0
Last three years sets the visible baseline vs prior three.
Peak count year
FY18
1 disclosed acquisitions in the peak visible year.
Spend check
N/A
Disclosed spend is not clean enough for the chart.
Named evidence
3 rows
100% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| 2020 | Sempra Solar Holdings, LLC | Adjacency and edge-case industrials | $1,488 | Acquisition of Sempra Solar Holdings, LLC, net of cash acquired — — (1,488) | 10-K† |
| 2019 | Sempra Solar Holdings, LLC | Adjacency and edge-case industrials | $1,488 | Acquisition of Sempra Solar Holdings, LLC, net of cash acquired — (1,488) — | 10-K† |
| 2018 | Sempra Solar Holdings, LLC | Adjacency and edge-case industrials | $1,488 | Acquisition of Sempra Solar Holdings, LLC, net of cash acquired (1,488) — — | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 6 SEC-backed facts across 3 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
1
Named deal filings
3
Recent SEC filings
0
Evidence clips
3
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.1 rows+-
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2003 | Feb 24, 2004 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.3 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 18, 2021 | 10-K | Sempra Solar Holdings, LLC | Named deals | SEC filing |
| Feb 20, 2020 | 10-K | Sempra Solar Holdings, LLC | Named deals | SEC filing |
| Feb 21, 2019 | 10-K | Sempra Solar Holdings, LLC | Named deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.3 rows+-
Medium
Acquisition of Sempra Solar Holdings, LLC
10-K - Feb 20, 2020
Acquisition of Sempra Solar Holdings, LLC, net of cash acquired — (1,488) —
Acquisition of Sempra Solar Holdings, LLC
10-K - Feb 21, 2019
Acquisition of Sempra Solar Holdings, LLC, net of cash acquired (1,488) — —
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.