Terna SpAMIL:TRN +0.15%84 Market Cap is €20,629 Mil as of Jun. 30, 2026. GuruFocus rates MIL:TRN with a GF Score™ of 84/100 and a GF Value™ of €9.85 (Fairly Valued). The stock has 3 warning signs investors should review. Among 515 Utilities - Regulated companies, Terna SpA ranks better than 91.46% on this metric.
Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). Terna SpA's share price for the quarter that ended in Mar. 2026 was €9.864. Terna SpA's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 2,006 Mil. Therefore, Terna SpA's market cap for the quarter that ended in Mar. 2026 was €19,784 Mil.
Terna SpA's quarterly market cap
increased
from Sep. 2025 (€17,325 Mil) to Dec. 2025 (€18,160 Mil) and
increased
from Dec. 2025 (€18,160 Mil) to Mar. 2026 (€19,784 Mil).
Terna SpA's annual market cap
increased
from Dec. 2023 (€15,152 Mil) to Dec. 2024 (€15,285 Mil) and
increased
from Dec. 2024 (€15,285 Mil) to Dec. 2025 (€18,160 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Terna SpA's Enterprise Value for Today is €33,598 Mil.
Terna SpA (MIL:TRN) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
Terna SpA Market Cap Related Terms
Terna SpA Market Cap Historical Data
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The historical data trend for Terna SpA's Market Cap can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Electric subindustry, Terna SpA's Market Cap, along with its competitors' market caps and Market Cap data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Terna SpA Market Cap vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Terna SpA's Market Cap distribution charts can be found below:
* The bar in red indicates where Terna SpA's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
Terna SpA's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Terna SpA (MIL:TRN) has a Market Cap of €20,629 Mil as of Jun. 30, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Terna SpA and its competitors. According to the industry distribution chart, Terna SpA ranks #44 out of 515 companies in the Utilities - Regulated industry, placing it in the top 8.5%.
Is Terna SpA's Market Cap too high?
Terna SpA's current Market Cap is €20,629 Mil. Based on the distribution chart, Terna SpA ranks #44 out of 515 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Terna SpA has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terna SpA's Market Cap compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Terna SpA ranks #44 out of 515 companies for Market Cap. This places Terna SpA in the top 9% of its industry — outperforming the majority of peers. The industry median Market Cap is 897.66. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for an Utilities - Regulated company?
The median Market Cap among Utilities - Regulated companies is 897.66, based on 515 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Terna SpA and its competitors. For the Utilities - Regulated industry, the median Market Cap is 897.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Terna SpA's current Market Cap is €20,629 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Terna SpA stock overvalued right now?
Based on GuruFocus' analysis, Terna SpA (MIL:TRN) is currently considered Fairly Valued. The stock's GF Value™ is €9.85, compared to a current price of €10.28 — trading 4.4% above its estimated fair value. The current Market Cap is €20,629 Mil. Terna SpA's overall GF Score™ is 84/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For Terna SpA (MIL:TRN), the current Market Cap is €20,629 Mil as of Jun. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Terna SpA (MIL:TRN) Overvalued in 2026?
Based on GuruFocus' analysis, Terna SpA stock appears to be overvalued.
The current stock price of €10.28 is trading 4.4% above its estimated GF Value™ of €9.85.
GuruFocus considers Terna SpA to be Fairly Valued.
Key valuation signals for MIL:TRN:
Market Cap: €20,629 Mil
GF Value™: €9.85 vs. price of €10.28 (4.4% above fair value)
No single metric tells the full story. See the MIL:TRN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Terna SpA is an electricity transmission system operator that owns virtually all of the Italian National Transmission Grid. With a monopoly under an Italian government license, Terna transmits and dispatches electricity throughout the country. It is also responsible for the planning, construction, and maintenance of the nation's electrical grid. Terna segments its operations into its Regulated Activities, Non-Regulated Activities, and International Activities. The company generates the vast majority of its revenue from charging transmission fees as a part of its Regulated Activities. Under its Non-Regulated Activities, Terna mainly produces and sells electricity transformers. The company has also made efforts to expand its operations into Italy's neighboring countries and North Africa.
84GF Score
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