1. Czech Republic Stocks

  2. •

    Utilities

  3. •

    Regulated Electric
CEZ, a. s.

CEZ, a. s.

CEZ.WA
CEZ, a. s.PL flagWarsaw Stock Exchange
222.80
PLN
+5.20
- -
119.60BMarket Cap
CEZ, a. s.
CEZ.WA
(Warsaw Stock Exchange)

Recent

price

222.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
372.51
392.78
402.71
406.26
365.92
386.89
378.13
372.49
339.08
376.98
394.86
443.03
523.26
626.26
633.55
614.94
598.76
Revenue per Share
88.14
76.32
77.57
67.19
41.94
38.82
26.73
35.12
19.31
26.85
10.16
18.26
150.5
55
54.33
52.36
53.86
Basic EPS, GAAP
26.5
15.98
120.97
48.91
132.32
135.87
91.63
85.75
66.11
80.21
134.76
110.32
9.49
257.45
231.8
119.58
147.96
Free Cash Flow per Basic Share
52.89
49.91
44.92
39.95
39.92
39.89
39.92
32.98
32.91
23.98
33.83
51.87
47.74
144.25
52.04
46.93
46.85
Dividend per Share
423.46
460.13
492.93
520.72
522.66
521.32
508.2
510.08
500.54
502.24
442.07
303.09
542.77
451.77
454.89
459.15
483.61
Book Value per Share
395.99
403.78
435.09
453.21
459.15
471.72
448.07
425.87
389.27
407.16
400.25
259.2
439.36
405.73
400.86
401.61
417.25
Tangible Book Value per Share
534
534
534
534
534
534
534
534
535
535
535
536
537
537
537
537
537
Basic Weighted Avg Shares
198,848
209,761
215,095
216,988
195,445
206,674
202,009
199,000
181,318
201,781
211,435
237,561
280,876
336,182
340,096
330,106
321,826
Sales/Revenue/Turnover
31.5
27.78
26.72
25.83
19.81
19.67
14.52
11.39
11.91
11.92
15.54
20.62
20.54
21.98
25.69
23.85
23.15
Operating Margin (%)
26,924
29,323
31,358
31,465
31,061
32,035
32,136
33,030
32,166
33,112
32,481
35,738
36,664
38,991
47,187
60,322
59,177
Depreciation Expense
47,051
40,756
41,429
35,886
22,403
20,739
14,281
18,765
10,327
14,373
5,438
9,791
80,786
29,524
29,163
28,107
28,948
Net Income, GAAP
20.01
21.56
21.2
20.72
21.72
23.6
24.59
16.67
22.32
21.24
30.84
26.2
18.99
62.57
64.38
59.04
51.49
Effective Tax Rate (%)
23.66
19.43
19.26
16.54
11.46
10.03
7.07
9.43
5.7
7.12
2.57
4.12
28.76
8.78
8.57
8.51
8.99
Profit Margin (%)
-4,970
5,589
22,039
32,467
20,524
15,932
12,147
7,972
8,856
15,867
22,877
-50,140
48,013
51,448
52,033
28,940
30,797
Working Capital
140,040
164,685
176,106
168,196
160,852
145,575
142,265
132,475
142,440
142,570
122,102
95,924
140,234
131,042
218,426
205,978
208,620
LT Debt
227,052
232,190
253,893
262,766
265,851
272,155
261,360
254,322
239,281
255,364
238,563
162,840
260,261
245,601
248,958
249,945
258,739
Total Equity
12.95
11.57
10.56
9.9
6.72
7.01
5.11
4.51
4.16
4.59
5.56
10.43
11.86
6.09
6.73
6.38
6.8
Return on Invested Capital (%)
12.86
11.05
10.6
8.84
5.62
5.37
3.88
5.26
3.6
4.56
2.48
4.1
21.89
7.61
7.52
7
6.93
Return on Capital (%)
21.8
17.28
16.28
13.26
8.04
7.44
5.19
6.9
3.82
5.36
2.15
4.9
35.6
11.06
11.98
11.46
11.19
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
29,994
42,720
54,573
LT Borrowings
232,067
205,978
208,620
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
537
537
537
Market Capitalization
693,205
698,316
626,668

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
195,027
206,725
259,069
Cash, Cash Equivalents & STI
55,810
34,776
56,509
Accounts Receivable, Net
49,217
51,381
55,214
Inventories
25,294
22,610
20,617
Total Current Liabilities
155,858
177,785
228,272
Payables & Accruals
- -
- -
- -
ST Debt
29,994
42,720
54,573
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.18%
4.85%
0.4%
Free Cash Flow
247.41%
489.27%
-48.41%
Net Income, GAAP
66.92%
147.37%
-3.62%
Sales/Revenue/Turnover
5.19%
9.7%
-2.94%
Total Cash Common Dividend
17.08%
34.82%
-9.81%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
86,793
73,646
80,424
112,361
340,096
2025
92,708
73,480
72,253
91,798
330,106
2026
84,295
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
25.2
14.1
4
- -
54.33
2025
23.7
7.4
10.3
- -
52.36
2026
25.1
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.25
0.11
51.18
- -
52.04
2025
0.11
0.05
46.7
- -
46.93
2026
0.08
- -
- -
- -
- -
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Business
CEZ, a.s. (CEZ.WA) is an integrated energy conglomerate engaged in the generation, distribution, trade, and sales of electricity and heat; trade and sales of natural gas; coal extraction; and provision of energy services. The company operates nuclear power plants including Dukovany (2,000 MW) and Temelin (2,000 MW); coal-fired plants such as Prunerov (1,490 MW), Pocerady (1,000 MW), and others; hydroelectric and pumped-storage facilities like Dlouhe Strany (650 MW) and Orlik (364 MW); wind farms including Fantanele in Romania (600 MW); solar parks such as Ralsko (38 MW) and Sevetin (30 MW); and combined cycle gas turbine and biomass plants. CEZ Group also provides commodity trading, energy consulting, electrical installations, high-speed internet, mobile services, and security systems; mines coal and processes aggregates; and holds interests in lithium mining projects like Cinovec. Founded in 1992 and headquartered in Prague, Czech Republic, the company serves approximately 3.5 million customers primarily in Czechia with operations in Germany, Hungary, Poland, Romania, Slovakia, and Turkey; it is majority-owned by the Czech government (nearly 70%) and listed on the Prague and Warsaw Stock Exchanges. Recent developments include the completion of a EUR 846.5 million acquisition of a 55.21% stake in GasNet, Czechia's largest gas distribution operator, in August 2024 to enhance gas network synergies; a strategic partnership with Rolls-Royce SMR in October 2024, including a 20% stake, to deploy up to 3 GW of small modular reactors in Czechia by the 2030s; receipt of a up-to-EUR 360 million Czech state grant in November 2025 for the Cinovec lithium project via its 51%-owned Geomet JV; and a EUR 400 million EIB loan in December 2024 to upgrade electricity distribution grids for 5.5 GW additional renewables integration by 2026. Under its VISION 2030 - Clean Energy for Tomorrow strategy, CEZ accelerates decarbonization by limiting coal generation by 2030, targeting climate neutrality by 2040, investing up to CZK 40 billion in Czech wind and solar under favorable regulations, expanding energy storage to 300 MWe, and constructing new gas capacities ready for hydrogen while extending nuclear operations.