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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Terna SpA's retained earnings for the quarter that ended in Jun. 2026 was €0 Mil.
Terna SpA's quarterly retained earnings
declined
from Dec. 2025 (€4,916 Mil) to Mar. 2026 (€0 Mil) but then
stayed the same
from Mar. 2026 (€0 Mil) to Jun. 2026 (€0 Mil).
Terna SpA's annual retained earnings
increased
from Dec. 2023 (€4,276 Mil) to Dec. 2024 (€4,652 Mil) and
increased
from Dec. 2024 (€4,652 Mil) to Dec. 2025 (€4,916 Mil).
Terna SpA (MIL:TRN) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Terna SpA Retained Earnings Historical Data
* Premium members only.
The historical data trend for Terna SpA's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Terna SpA (MIL:TRN) has a Retained Earnings of €0 Mil as of Jun. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Terna SpA and its competitors.
Is Terna SpA's Retained Earnings too high?
Terna SpA's current Retained Earnings is €0 Mil. Overall, Terna SpA has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terna SpA's Retained Earnings compare to NEE and SO?
Terna SpA's Retained Earnings of €0 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for an Utilities - Regulated company?
A good Retained Earnings depends on the Utilities - Regulated industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Terna SpA and its competitors. Terna SpA's current Retained Earnings is €0 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 €9.95, compared to a current price of €10.11 — trading 1.6% above its estimated fair value. The current Retained Earnings is €0 Mil. Terna SpA's overall GF Score™ is 82/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Terna SpA (MIL:TRN), the current Retained Earnings is €0 Mil as of Jun. 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 €10.11 is trading 1.6% above its estimated GF Value™ of €9.95.
GuruFocus considers Terna SpA to be Fairly Valued.
Key valuation signals for MIL:TRN:
Retained Earnings: €0 Mil
GF Value™: €9.95 vs. price of €10.11 (1.6% 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.
82GF Score
Get the complete analysis for MIL:TRN
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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