ENERGY ONE LIMITED (EOL)
Share Price Analysis and Chart

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08/12/2025

1

Buy

$24.47

44.88%

Ord Minnett highlights Energy One is well placed to benefit from the ongoing structural shift in global energy markets. The global ETRM/software total addressable market is $2.9bn today and is projected to grow to around $7.3bn by 2035.

Customers view Energy One as a premium, out-of-the-box “one-stop shop,” especially attractive for new/smaller players, offering 92% lifecycle cost savings vs building in-house, the broker observes.

The company has $123m balance-sheet capacity for M&A by 2028, likely targeting two deals, first Europe, then the US for market entry.

Buy retained. Target unchanged at $24.47.

FORECAST
Ord Minnett forecasts a full year FY26 EPS of 28.70 cents.
Ord Minnett forecasts a full year FY27 EPS of 46.70 cents.

01/12/2025

1

Initiation of coverage with Buy

$22.94

35.82%

Canaccord Genuity initiates coverage of Energy One with a Buy rating and a $22.94 target price.

The broker believes the company has a robust growth profile from strong growth in renewable energy generation, with growing demand for software that can optimise battery energy storage systems.

Recent European legislation is expected to underpin robust demand for its scheduling and algorithmic trading software, eZ-Ops, eZ-Algo, and enTrader.

The change in energy generation is leading to increased pricing volatility, which in turn leads to higher demand for data rich, sophisticated software, the analyst states.

Recurring revenue target growth of 15-20% p.a. has been established by management, and a cash earnings (EBITDA) margin of over 49% for FY25-FY28.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 13.70 cents and EPS of 36.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 19.20 cents and EPS of 50.00 cents.