Why invest in Iberdrola today?
To invest in Iberdrola
is to invest well
With 125 years of history, we are a global energy leader with a strategic and innovative vision focused on the electrification of the economy. We are driving a sustainable energy model based on smart grids, renewable energy and efficient storage, with a diversified portfolio of projects and markets, and a presence in countries with high credit ratings.
Today we are the largest electricity company in Europe and one of the two largest in the world by market capitalisation. As a company, we focus on driving the electrification of the economy by investing in electricity network development and strengthening electricity generation from renewable sources and efficient storage, enabling the provision of a secure, self-sufficient and competitive energy supply.Thanks to our daily work, we supply energy to almost 100 million people across dozens of countries, have a diverse workforce of more than 45,363 employees and hold assets exceeding €170 billion.
Solid financial results
Highlights at the end of the first nine months of 2026 financial year.
total assets
Adj. EBITDA
reported net profit
dividend per share
A business model that adds value
With 125 years of history, Iberdrola has established itself as a global leader in the energy sector and one of the two largest electricity companies in the world by market capitalisation. Our commitment to the electrification of the economy acts as a lever to build a clean, reliable, and intelligent energy model. Leading this process is technologically possible, economically viable, and socially necessary.
In this model, electrification is the way to create value for people and the environment, generate employment, boost economies, and address the main challenges of today and tomorrow. For this reason, we are committed to leading the electrification process through our daily activities by promoting smart grids, renewable energy and storage installations, and the best solutions for our customers. Our strategy is structured around three key ideas:
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A unique combination of businesses and locations
Iberdrola’s leadership is based on the businesses of smart grids, renewable electricity generation, and efficient storage, with a diversified portfolio of projects and markets, and a presence in countries with high credit ratings. We contribute 10 percentage points more than our European Union competitors. Through our subsidiaries and associated companies, we operate in dozens of countries, with a prominent presence in Spain, the United Kingdom, the United States, and Brazil. Our diversified portfolio is supported by stable regulatory environments: over 90% of investment is directed towards countries with an ‘A’ rating.
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Financial strength and a solid dividend policy
Our integrated business model is reflected in a solid financial structure that ensures stable, predictable, profitable, and secure growth. We operate in markets with an A+ rating and consolidate our financial position aligned with a credit rating of BBB+ / Baa1, made possible by a highly diversified portfolio of assets, markets, and financing sources.
Furthermore, we maintain a stable and growing dividend policy, aligned with the company’s results. The Strategic Plan 2025-2028 aims to distribute nearly €20 billion to our shareholders, with a payout ratio between 65% and 75% of earnings per share, setting a minimum dividend of €0.64 for this period under the Iberdrola Flexible Remuneration programme.
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Sustainability integrated into the business and shared value
At Iberdrola, we carry out our activities with the aim of creating sustainable value for all our stakeholders and contributing to the achievement of the Sustainable Development Goals (SDGs): this is what we call our social dividend. This approach is centred around an electrified energy model that creates value for people and the environment, in addition to contributing to addressing the main challenges of today and tomorrow. To achieve this goal, the Iberdrola Group directs its activities around three values: Sustainable energy, to create value; Integrating strength, to multiply talent; and Driving momentum, to evolve without pause.
Iberdrola’s creation of value
Total dividend
+27,354
€ millions
Increase in stock market capitalisation
+87,613
€ millions
SEE INFOGRAPHIC: Iberdrola's creation of value [PDF]
Over the last 10 years, it has generated value of €115 billion as a result of having increased its capitalisation by close to €88 billion and distributed dividends of more than €27 billion.
Iberdrola and shareholder value
Iberdrola’s Net Profit & dividends per share evolution and volatility
| Companies | Volatility¹ (σ) |
|---|---|
| Iberdrola | 0.05 |
| Peers | 4.1 |
High returns for our shareholders
The strength of our business model and our excellent results have a positive impact on our shareholders’ returns. For years at Iberdrola, we have been committed to strengthening dialogue with our investors and ensuring their maximum involvement in the company’s most important decisions. The data confirm that this commitment has had positive results:
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Iberdrola is Europe's largest utility company by market cap and one of the two largest in the world, having exceeded €140 billion in October 2026.
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Iberdrola’s share price rose from €3.50 in 2001 to exceed €21 by October 2026, and paid out more than €7 per share in dividends.
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In the last 10 years, Iberdrola has significantly outperformed in total shareholder return (‘TSR’) (including reinvestment of dividends) compared to:
- The average total return of the top three US utilities by market capitalisation;
- The total return of the European industry index (Euro STOXX Utilities);
- The total return of the Spanish market index (IBEX 35).
Iberdrola, a solid choice compared to any sector
The electrification of all industries makes the electric utilities sector a highly attractive investment, especially in the case of the Iberdrola Group, which has significantly outperformed the 10-year total shareholder return of other comparable companies in the sector. This leadership is also reinforced when compared to other global sectors, where the company offers strong potential thanks to a growing demand for energy year after year.
10-yr Total shareholder return¹ in global sectors vs. Iberdrola
Demand for energy and grid infrastructure are rising, offering an attractive runway for future growth.
- Consumer
- Healthcare
- Utilities²
- Luxury
- MSCI
- S&P
- Iberdrola
⁽¹⁾ Total shareholder return including dividend reinvestment for the period December 2014 – August 2025
⁽²⁾ Utilities according to GICS include electric utilities, multiple energies, independent power producers and energy marketers, gas utilities, water utilities and renewable electricity.
Source: Bloomberg. MSCI World Index, S&P Global Index, S&P 500 Index. Sector classification according to GICS
"Geographical diversification, the skills of our 46,000 employees, access to finance and technology, and a track record of successful delivery are, and will continue to be, the best guarantee of Iberdrola’s future"
Ignacio S. Galán
Executive Chairman of Iberdrola
Market opportunity: trends and our Strategic Plan
At Iberdrola, we are working to build an efficient, healthy and accessible energy model, placing people’s wellbeing at the centre of our activity. To achieve this and anticipate the evolving context, we have reinforced our commitments with a transformative Strategic Plan 2025-2028, involving €58 billion of investment, which will be directed to driving electrification, especially of distribution and transmission energy networks. We will also continue efforts to increase energy production capacity and storage, surpassing 60 GW of installed capacity by 2028.
Driving
smart grids
We will dedicate €37 billion to their development in the United Kingdom and the United States mainly, followed by Brazil and Spain, in order of investment.
Electrification
with clean energy
Our investment in Renewables and Customers will allocate 38% to offshore wind, 24% to onshore wind, 10% to storage and another 10% to solar.
Focus on
A-rated countries
The investment plan states that 85% of investments will go to countries with an A rating and stable, predictable and attractive regulatory frameworks.
Driving
smart grids
We will dedicate €37 billion to their development in the United Kingdom and the United States mainly, followed by Brazil and Spain, in order of investment.
Electrification
with clean energy
Our investment in Renewables and Customers will allocate 38% to offshore wind, 24% to onshore wind, 10% to storage and another 10% to solar.
Focus on
A-rated countries
The investment plan states that 85% of investments will go to countries with an A rating and stable, predictable and attractive regulatory frameworks.
Track record of Net Profit delivery vs guidance
Reported Net Profit CAR of high single digit since 2016 with an average over delivery of >5% on annual guidance
Reported high single digit
- 2016
- 2019
- 2023
- 2024
- 2025
Annual guidance
From 2024 onwards, adjusted figures are shown.
Strong growth expectations
Iberdrola’s Adjusted Net Profit is growing faster than expected and continues to follow a very positive trajectory. In our 2026 Nine months Results presentation, we exceeded our 2026 growth forecast of more than 10% for Adjusted Net Profit, excluding capital gains from asset rotation. Looking ahead, we will hold a new edition of our Capital Markets Day in March 2027, when we will update our Strategic Plan with the aim of achieving average annual growth of 10% in Adjusted Net Profit over the next five years.
A roadmap in line with our sustainability targets
Sustainability is embedded in our business model – a model that creates value for everyone. Our Sustainability Targets 2025-2030 [PDF], under the motto “Powering a new future for energy, a sustainable future,” set out a series of long-term sustainability objectives and measure the impact of the initiatives already underway. These are some of our most notable targets:
Boosting electricity as a safe, self-sufficient and competitive energy source
- Strengthening human and social capital
- Promoting good governance in accordance with the Group’s Ethical and Basic Principles and applicable rules and regulations
- Protecting nature and promoting the efficient use of resources
- Promoting a sustainable value chain
Increasing our social dividend
Human & Social Capital
- 15,000 new hires until 2028
- 500,000 jobs¹ sustained in our supply chain
- > €40bn of tax contribution up to 2028
Corporate Governance
- 79% of independent directors
- Best practices in Corporate Governance
Nature & efficient use of resources
- Carbon Neutral by 2030
- Net positive impact in nature
Supply & Value Chain
- > €65bn of purchases to 20,000 suppliers → >85% sustainable
- > €400m of investments in R&D p.a.
¹ Proprietary forecast based on PwC study “Economic, social and environmental impact of Iberdrola in the world” for 2024
Driving innovation for a more sustainable future
Technological development can provide new and better solutions to facilitate decarbonisation and, consequently, the electrification. That is why Iberdrola has become the private energy company that invests the most in R&D+i in the world, with innovation impacting all our daily business activities.
To continue leading this drive, we will allocate around €400 million per year to innovation and digitalisation, as set out in our Strategic Plan 2025-2028, and will continue supporting start-ups, universities and research centres worldwide. Our main objectives are to:
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Promote distribution and transmission networks in the United Kingdom and the United States.
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Automate 91% of our smart grids by 2030.
Contact
Investor Relations Office
For more information please contact investor.relations@iberdrola.es
Shareholder's Office
Shareholder's service line: 900 10 00 19. Tel.: +34 900 10 00 19 Tel.: +34 91 110 06 13 (international calls)
Hours: from Monday to Friday from September to July, from 9:00 to 19:00, and from Monday to Friday in August, from 9:00 to 14:00.
Calle Tomás Redondo, 1, 28033 Madrid, Spain.
For more information please contact accionistas@iberdrola.com.
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