ENERGY ONE LIMITED (EOL)
Share Price Analysis and Chart

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12/12/2025

1

Initiation of coverage with Buy

$20.80

44.85%

Bell Potter has initiated coverage of Energy One with a Buy rating and target price of $20.80.

The company provides end-to-end software, outsourced operations, and advisory services for wholesale energy, environmental, and carbon markets, serving over 450 customers across 30-plus countries.

Its core advantage is a flexible, fast-to-implement “one-stop-shop” platform that simplifies complex energy trading and operational requirements. The broker reckons growing renewable penetration increases system volatility and complexity, strengthening demand for the company’s mission-critical tools and services.

Europe’s expanded electricity trading windows further enhance opportunities for new sales, cross-selling, and price increases, supporting resilient earnings.

The broker's FY25-28 EPS forecasts assume a compounded annual growth rate (CAGR) of 49%, and underpin its confidence in share price appreciation. Upside catalysts include further European M&A and management, which would lift its EPS CAGR to 62% over FY25–27.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 12.00 cents and EPS of 30.20 cents.
Bell Potter forecasts a full year FY27 dividend of 19.00 cents and EPS of 47.60 cents.

05/03/2026

1

Buy

$20.79

44.78%

Canaccord Genuity maintains a Buy rating on Energy One and lowers the target price to $20.79 from $21.32.

Recurring revenue growth of 23% in the half was a key highlight, commentary suggests, supported by strong net revenue retention of 111%, although churn temporarily increased to 5%.

Revenue was slightly below expectations due to lower implementation revenue, while recurring revenue exceeded forecasts and cash EBITDA of $7.3m beat estimates.

FY26 guidance was reiterated, with the broker forecasting ARR growth of around 16%, within the company’s 15–20% target range, and a cash EBITDA margin of roughly 21%.

Canaccord Genuity views the recent share price pullback as a buying opportunity.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 12.70 cents and EPS of 34.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 17.90 cents and EPS of 46.00 cents.