ELI Stock Analysis: Elia SA/NV | BR
Utilities - Regulated Electric | BR, Belgium | Market Cap: 13.054m EUR | 12M Return: 18.1% | BE0003822393 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.3M
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Elia Group SA/NV is a Belgian-headquartered transmission system operator (TSO) that develops and operates high-voltage electricity grids in Belgium and Germany. In addition to its core transmission activities, the company is involved in electricity generation, import, and export, and provides engineering consultancy services. Founded in 1937 and listed in 2005, Elia operates in the regulated Utilities sector, where TSOs typically function as natural monopolies, charging fees for the use of their grid infrastructure to ensure reliable cross-border and domestic power delivery. Its dual-market presence in Belgium and Germany positions it as one of the larger TSOs in Western Europe.
- Belgian regulator cuts allowed return on equity for next tariff period
- German grid capex surges to connect offshore wind capacity
- High net debt and rising interest costs pressure free cash flow
| Net Income: 671.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.10 > 0.02 and ΔFCF/TA -0.82 > 1.0 |
| NWC/Revenue: 17.40% < 20% (prev 68.83%; Δ -51.43% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.90b > Net Income 671.6m |
| Net Debt (15.7b) to EBITDA (2.62b): 6.01 < 3 |
| Current Ratio: 1.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (109.2m) vs 12m ago 48.51% < -2% |
| Gross Margin: 35.56% > 18% (prev 49.98%; Δ -14.42% > 0.5%) |
| Asset Turnover: 15.61% > 50% (prev 10.62%; Δ 4.99% > 0%) |
| Interest Coverage Ratio: 5.37 > 6 (EBIT TTM 1.84b / Interest Expense TTM 343.4m) |
| A: 0.03 (Total Current Assets 5.25b - Total Current Liabilities 4.41b) / Total Assets 33.0b |
| B: 0.09 (Retained Earnings 2.86b / Total Assets 33.0b) |
| C: 0.06 (EBIT TTM 1.84b / Avg Total Assets 31.0b) |
| D: 0.40 (Book Value of Equity 9.26b / Total Liabilities 22.9b) |
| Altman-Z'' = 1.27 = BB |
| DSRI: 0.95 (Receivables 1.26b/840.0m, Revenue 4.83b/3.07b) |
| GMI: 1.41 (GM 49.98% / 35.56%) |
| AQI: 1.01 (AQ_t 0.13 / AQ_t-1 0.13) |
| SGI: 1.58 (Revenue 4.83b / 3.07b) |
| TATA: -0.04 (NI 671.6m - CFO 1.90b) / TA 33.0b) |
| Beneish M = -2.29 (Cap -4..+1) = BBB |
As of October 08, 2026, the stock is trading at EUR 116.30 with a total of 66,231 shares traded. Over the past week, the price has changed by -2.76%, over one month by -3.41%, over three months by -15.48% and over the past year by +18.08%.
Current recommended Stop Loss: 112.90 (which is 2.9% or 1.3 ATR below the current price).
Elia SA/NV has no consensus analysts rating.
P/E Trailing = 20.5852
P/E Forward = 15.1745
P/S = 2.7008
P/B = 1.3932
P/EG = 2.8153
Revenue TTM = 4.83b EUR
EBIT TTM = 1.84b EUR
EBITDA TTM = 2.62b EUR
Long Term Debt = 16.8b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 700.6m EUR (from shortTermDebt, last quarter)
Debt = 19.2b EUR (from shortLongTermDebtTotal, last quarter) + Leases 83.4m
Net Debt = 15.7b EUR (calculated: Debt 19.2b - CCE 3.45b)
Enterprise Value = 28.8b EUR (13.1b + Debt 19.2b - CCE 3.45b)
Interest Coverage Ratio = 5.37 (Ebit TTM 1.84b / Interest Expense TTM 343.4m)
EV/FCF = -8.58x (Enterprise Value 28.8b / FCF TTM -3.36b)
FCF Yield = -11.65% (FCF TTM -3.36b / Enterprise Value 28.8b)
FCF Margin = -69.43% (FCF TTM -3.36b / Revenue TTM 4.83b)
Net Margin = 13.90% (Net Income TTM 671.6m / Revenue TTM 4.83b)
Gross Margin = 35.56% ((Revenue TTM 4.83b - Cost of Revenue TTM 3.11b) / Revenue TTM)
Gross Margin QoQ = 41.28% (prev 29.10%)
Tobins Q-Ratio = 0.87 (Enterprise Value 28.8b / Total Assets 33.0b)
Interest Expense / Debt = 1.79% (Interest Expense 343.4m / Debt 19.2b)
Taxrate = 20.08% (195.3m / 972.7m)
NOPAT = 1.47b (EBIT 1.84b * (1 - 20.08%))
Current Ratio = 1.19 (Total Current Assets 5.25b / Total Current Liabilities 4.41b)
Debt / Equity = 2.07 (Debt 19.2b / totalStockholderEquity, last quarter 9.26b)
Debt / EBITDA = 6.01 (Net Debt 15.7b / EBITDA 2.62b)
Debt / FCF = -4.69 (negative FCF - burning cash) (Net Debt 15.7b / FCF TTM -3.36b)
Total Stockholder Equity = 7.57b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.17% (Net Income 671.6m / Total Assets 33.0b)
RoE = 8.87% (Net Income TTM 671.6m / Total Stockholder Equity 7.57b)
RoCE = 7.55% (EBIT 1.84b / Capital Employed (Equity 7.57b + L.T.Debt 16.8b))
RoIC = 5.07% (NOPAT 1.47b / Invested Capital 29.1b)
WACC = 3.01% (E(13.1b)/V(32.2b) * Re(5.34%) + D(19.2b)/V(32.2b) * Rd(1.79%) * (1-Tc(0.20)))
Discount Rate = 5.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 85.35 | Cagr: 22.58%
[DCF] Fair Price = unknown (Cash Flow -3.36b)
EPS Correlation: 60.34 | EPS CAGR: 33.01% | SUE: N/A | # QB: 0
Revenue Correlation: 27.12 | Revenue CAGR: 4.59% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=6.66 | Chg30d=+0.63% | Revisions=+50% | GrowthEPS=+19.8% | GrowthRev=+29.3%
EPS next Year (2027-12-31): EPS=7.31 | Chg30d=+0.53% | Revisions=+29% | GrowthEPS=+9.7% | GrowthRev=+14.4%
[Analyst] Revisions Ratio: +50% (up=6, down=1)