(ELI) Elia SA/NV - BR
Sector: Utilities | Industry: Utilities - Regulated Electric | Exchange: BR (Belgium) | Market Cap: 14.615m EUR | Total Return: 42.9% in 12m
Avg Turnover: 12.1M
Warnings
Share dilution 46.8% YoY
High Debt while negative Cash Flow
Tailwinds
Shakeout, Confidence
Elia Group SA/NV operates as a leading transmission system operator (TSO) managing high-voltage electricity grids in Belgium and Germany. Founded in 1937 and headquartered in Brussels, the company is responsible for the transmission of electricity from generators to distribution systems, facilitating cross-border energy trading and grid stability.
As a regulated utility, Elia Group functions within a natural monopoly framework where revenues are largely determined by sovereign regulatory authorities based on invested capital and operational efficiency. The business model is increasingly focused on integrating offshore wind power and expanding interconnectors to support the European energy transition.
For a detailed analysis of the companys valuation metrics and historical performance, you may wish to consult ValueRay.
- German grid expansion investments drive regulated asset base growth
- Regulatory return on equity adjustments impact net interest margins
- Offshore wind integration projects increase multi-year capital expenditure requirements
- Interest rate fluctuations influence financing costs for heavy debt loads
| Net Income: 443.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.07 > 0.02 and ΔFCF/TA 6.46 > 1.0 |
| NWC/Revenue: 31.28% < 20% (prev -9.27%; Δ 40.55% < -1%) |
| CFO/TA 0.07 > 3% & CFO 2.12b > Net Income 443.9m |
| Net Debt (14.2b) to EBITDA (1.77b): 8.06 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (107.9m) vs 12m ago 46.75% < -2% |
| Gross Margin: 38.62% > 18% (prev 44.39%; Δ -5.77% > 0.5%) |
| Asset Turnover: 11.76% > 50% (prev 15.11%; Δ -3.35% > 0%) |
| Interest Coverage Ratio: 3.33 > 6 (EBIT TTM 1.19b / Interest Expense TTM 357.8m) |
| A: 0.03 (Total Current Assets 5.93b - Total Current Liabilities 4.88b) / Total Assets 32.1b |
| B: 0.08 (Retained Earnings 2.68b / Total Assets 32.1b) |
| C: 0.04 (EBIT TTM 1.19b / Avg Total Assets 28.5b) |
| D: 0.32 (Book Value of Equity 7.63b / Total Liabilities 23.7b) |
| Altman-Z'' = 1.10 = BB |
| DSRI: 1.25 (Receivables 1.32b/1.18b, Revenue 3.36b/3.77b) |
| GMI: 1.15 (GM 44.39% / 38.62%) |
| AQI: 0.86 (AQ_t 0.13 / AQ_t-1 0.15) |
| SGI: 0.89 (Revenue 3.36b / 3.77b) |
| TATA: -0.05 (NI 443.9m - CFO 2.12b) / TA 32.1b) |
| Beneish M = -2.85 (Cap -4..+1) = A |
As of June 19, 2026, the stock is trading at EUR 133.60 with a total of 104,229 shares traded.
Over the past week, the price has changed by +0.07%,
over one month by +2.14%,
over three months by -0.77% and
over the past year by +42.86%.
Elia SA/NV has no consensus analysts rating.
P/E Trailing = 24.2572
P/E Forward = 19.685
P/S = 3.29
P/B = 1.7932
P/EG = 2.8153
Revenue TTM = 3.36b EUR
EBIT TTM = 1.19b EUR
EBITDA TTM = 1.77b EUR
Long Term Debt = 16.8b EUR (from longTermDebt, last quarter)
Short Term Debt = 861.5m EUR (from shortTermDebt, last quarter)
Debt = 18.4b EUR (from shortLongTermDebtTotal, last quarter) + Leases 83.4m
Net Debt = 14.2b EUR (calculated: Debt 18.4b - CCE 4.14b)
Enterprise Value = 28.8b EUR (14.6b + Debt 18.4b - CCE 4.14b)
Interest Coverage Ratio = 3.33 (Ebit TTM 1.19b / Interest Expense TTM 357.8m)
EV/FCF = -11.99x (Enterprise Value 28.8b / FCF TTM -2.41b)
FCF Yield = -8.34% (FCF TTM -2.41b / Enterprise Value 28.8b)
FCF Margin = -71.67% (FCF TTM -2.41b / Revenue TTM 3.36b)
Net Margin = 13.23% (Net Income TTM 443.9m / Revenue TTM 3.36b)
Gross Margin = 38.62% ((Revenue TTM 3.36b - Cost of Revenue TTM 2.06b) / Revenue TTM)
Gross Margin QoQ = 29.10% (prev 58.51%)
Tobins Q-Ratio = 0.90 (Enterprise Value 28.8b / Total Assets 32.1b)
Interest Expense / Debt = 1.95% (Interest Expense 357.8m / Debt 18.4b)
Taxrate = 18.43% (117.5m / 637.9m)
NOPAT = 970.6m (EBIT 1.19b * (1 - 18.43%))
Current Ratio = 1.22 (Total Current Assets 5.93b / Total Current Liabilities 4.88b)
Debt / Equity = 2.41 (Debt 18.4b / totalStockholderEquity, last quarter 7.63b)
Debt / EBITDA = 8.06 (Net Debt 14.2b / EBITDA 1.77b)
Debt / FCF = -5.92 (negative FCF - burning cash) (Net Debt 14.2b / FCF TTM -2.41b)
Total Stockholder Equity = 6.56b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.56% (Net Income 443.9m / Total Assets 32.1b)
RoE = 6.76% (Net Income TTM 443.9m / Total Stockholder Equity 6.56b)
RoCE = 5.08% (EBIT 1.19b / Capital Employed (Equity 6.56b + L.T.Debt 16.8b))
RoIC = 3.47% (NOPAT 970.6m / Invested Capital 28.0b)
WACC = 3.03% (E(14.6b)/V(33.0b) * Re(4.85%) + D(18.4b)/V(33.0b) * Rd(1.95%) * (1-Tc(0.18)))
Discount Rate = 4.85% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 55.56 | Cagr: 22.01%
[DCF] Fair Price = unknown (Cash Flow -2.41b)
EPS Correlation: 60.34 | EPS CAGR: 33.01% | SUE: N/A | # QB: 0
Revenue Correlation: -82.76 | Revenue CAGR: -8.77% | SUE: -0.53 | # QB: 0
EPS current Year (2026-12-31): EPS=6.56 | Chg30d=+0.12% | Revisions=+43% | GrowthEPS=+18.1% | GrowthRev=+25.5%
EPS next Year (2027-12-31): EPS=7.21 | Chg30d=+0.46% | Revisions=+14% | GrowthEPS=+9.8% | GrowthRev=+17.4%
[Analyst] Revisions Ratio: +43%