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    Is Nexans (ENXTPA:NEX) A Bargain As Half Year 2026 Earnings Land?

    Simply Wall St·07/30/2026 13:13:47
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    Nexans (ENXTPA:NEX) is in focus after reporting half year 2026 earnings. Sales were €4,736 million, while net income was €103 million, with diluted EPS from continuing operations at €2.68.

    See our latest analysis for Nexans.

    Nexans shares trade at €128.6 after a 3.63% 1 day share price gain. However, the 30 day share price return is down 9.75% and the 90 day share price return is down 18.66%. The 5 year total shareholder return of 77.29% points to momentum that has built over a longer period despite recent earnings and board changes.

    If Nexans has you thinking about where electrification could create the next opportunities, it may be worth scanning 34 power grid technology and infrastructure stocks

    Bulls point to Nexans' electrification focus and long term returns, while bears focus on the recent share price pullback and net income drop. Which side does the current valuation math lean toward?

    Most Popular Narrative: 24% Undervalued

    With Nexans last closing at €128.6 against a narrative fair value of €168, the most followed view frames the stock as undervalued and anchored in electrification growth.

    The ongoing acceleration of global electrification, renewable energy adoption, grid modernization, and significant investments in infrastructure (especially in Europe and emerging markets) continue to drive strong organic growth in Nexans' Electrification, Power Grid, and Transmission segments, supporting a robust order backlog and increased revenue visibility for coming years.

    Read the complete narrative.

    Curious what sits behind that confidence in Nexans earnings power. The narrative leans on rising margins, a richer product mix, and a future profit multiple that assumes investors keep rewarding this electrification pivot.

    Result: Fair Value of €168 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, Nexans still faces margin pressure from raw material swings and competition, and any setbacks on acquisitions or project execution could quickly challenge that case for undervaluation.

    Find out about the key risks to this Nexans narrative.

    Another View: Nexans Through The P/E Lens

    The fair value narrative for Nexans points to undervaluation, yet the current P/E of 26.3x tells a tighter story. It is slightly higher than the European Electrical industry at 25.7x, sits below the peer average of 34.3x, and is almost in line with the 26.2x fair ratio. That mix suggests less obvious upside and more focus on execution risk. If earnings stumble or sentiment cools, how quickly could the market push the P/E back toward that fair ratio?

    See what the numbers say about this price — find out in our valuation breakdown.

    ENXTPA:NEX P/E Ratio as at Jul 2026
    ENXTPA:NEX P/E Ratio as at Jul 2026

    Next Steps

    Unsure whether the current Nexans story leans more positive or cautious. Act while the details are fresh, and weigh both the upside and the downside using the 4 key rewards and 2 important warning signs

    Looking For More Investment Ideas Beyond Nexans?

    Before you move on, give yourself options. Use the Simply Wall Street Screener to line up fresh stock ideas that match how you like to invest.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.