A2A Stock Analysis: A2A S.p.A | MI
Utilities - Diversified | MI, Italy | Market Cap: 7.249m EUR | 12M Return: 10.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 20.7M
EPS Trend: 59.5%
Rev. Trend: -5.7%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 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.
A2A S.p.A. is an Italian multi-utility headquartered in Milan that operates across the energy, heat, waste, and water value chains. Its core activities include the generation, sale, and distribution of electricity and gas, with generation coming from a mix of hydroelectric, thermoelectric, photovoltaic, and wind plants, as well as the production and sale of heat through district heating networks.
Beyond traditional utilities, A2A is involved in integrated waste management (collection, street sweeping, treatment, disposal, and material/energy recovery), the construction and operation of integrated waste disposal plants, and the full water cycle, including purification and sewer services. It also provides public lighting management, video surveillance, energy efficiency, and electric mobility services.
The companys profile reflects the broader multi-utility business model common among Italian and European integrated service providers, where regulated and market-based activities in power, gas, district heating, and environmental services are bundled under a single operator to generate cross-segment scale economies and stable cash flows. Listed on Borsa Italiana and classified within the GICS Electric Utilities sub-industry, A2A is positioned as a mid-cap player whose earnings mix is diversified across regulated and unregulated activities.
- Italian wholesale energy prices swing on gas costs
- ARERA tariff reset pressures gas distribution earnings
- Waste-to-energy volumes and district heating users expand
| Net Income: 1.59b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 2.32 > 1.0 |
| NWC/Revenue: 1.21% < 20% (prev 4.48%; Δ -3.27% < -1%) |
| CFO/TA 0.21 > 3% & CFO 4.45b > Net Income 1.59b |
| Net Debt (-1.65b) to EBITDA (3.59b): -0.46 < 3 |
| Current Ratio: 1.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.12b) vs 12m ago -0.26% < -2% |
| Gross Margin: 25.59% > 18% (prev 22.71%; Δ 2.88% > 0.5%) |
| Asset Turnover: 136.6% > 50% (prev 82.24%; Δ 54.41% > 0%) |
| Interest Coverage Ratio: 13.11 > 6 (EBIT TTM 2.63b / Interest Expense TTM 201.0m) |
| A: 0.02 (Total Current Assets 7.86b - Total Current Liabilities 7.51b) / Total Assets 21.4b |
| B: 0.20 (Retained Earnings 4.30b / Total Assets 21.4b) |
| C: 0.13 (EBIT TTM 2.63b / Avg Total Assets 20.6b) |
| D: 0.38 (Book Value of Equity 5.92b / Total Liabilities 15.5b) |
| Altman-Z'' = 2.02 = BBB |
| DSRI: 0.71 (Receivables 4.45b/3.64b, Revenue 28.2b/16.4b) |
| GMI: 0.89 (GM 22.71% / 25.59%) |
| AQI: 0.91 (AQ_t 0.25 / AQ_t-1 0.28) |
| SGI: 1.72 (Revenue 28.2b / 16.4b) |
| TATA: -0.13 (NI 1.59b - CFO 4.45b) / TA 21.4b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of July 12, 2026, the stock is trading at EUR 2.31 with a total of 4,776,744 shares traded. Over the past week, the price has changed by -1.53%, over one month by +3.58%, over three months by -4.27% and over the past year by +10.82%.
Current recommended Stop Loss: 2.20 (which is 4.8% or 2.7 ATR below the current price).
A2A S.p.A has no consensus analysts rating.
P/E Trailing = 9.6542
P/E Forward = 12.0337
P/S = 0.4951
P/B = 1.2034
P/EG = 0.8444
Revenue TTM = 28.2b EUR
EBIT TTM = 2.63b EUR
EBITDA TTM = 3.59b EUR
Long Term Debt = 6.22b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.00b EUR (from shortLongTermDebt, last quarter)
Debt = 231.0m EUR (Leases only: 231.0m)
Net Debt = -1.65b EUR (calculated: Debt 231.0m - CCE 1.88b)
Enterprise Value = 5.60b EUR (7.25b + Debt 231.0m - CCE 1.88b)
Interest Coverage Ratio = 13.11 (Ebit TTM 2.63b / Interest Expense TTM 201.0m)
EV/FCF = 58.95x (Enterprise Value 5.60b / FCF TTM 95.0m)
FCF Yield = 1.70% (FCF TTM 95.0m / Enterprise Value 5.60b)
FCF Margin = 0.34% (FCF TTM 95.0m / Revenue TTM 28.2b)
Net Margin = 5.63% (Net Income TTM 1.59b / Revenue TTM 28.2b)
Gross Margin = 25.59% ((Revenue TTM 28.2b - Cost of Revenue TTM 21.0b) / Revenue TTM)
Gross Margin QoQ = 25.29% (prev 24.92%)
Tobins Q-Ratio = 0.26 (Enterprise Value 5.60b / Total Assets 21.4b)
Interest Expense / Debt = 87.01% (Interest Expense 201.0m / Debt 231.0m)
Taxrate = 28.59% (665.0m / 2.33b)
NOPAT = 1.88b (EBIT 2.63b * (1 - 28.59%))
Current Ratio = 1.05 (Total Current Assets 7.86b / Total Current Liabilities 7.51b)
Debt / Equity = 0.04 (Debt 231.0m / totalStockholderEquity, last quarter 5.92b)
Debt / EBITDA = -0.46 (Net Debt -1.65b / EBITDA 3.59b)
Debt / FCF = -17.35 (Net Debt -1.65b / FCF TTM 95.0m)
Total Stockholder Equity = 5.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.69% (Net Income 1.59b / Total Assets 21.4b)
RoE = 27.80% (Net Income TTM 1.59b / Total Stockholder Equity 5.71b)
RoCE = 22.09% (EBIT 2.63b / Capital Employed (Equity 5.71b + L.T.Debt 6.22b))
RoIC = 15.10% (NOPAT 1.88b / Invested Capital 12.5b)
WACC = 6.12% (E(7.25b)/V(7.48b) * Re(6.31%) + (debt cost/tax rate unavailable))
Discount Rate = 6.31% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 54.23 | Cagr: 0.68%
[DCF] Terminal Value 75.44% ; FCFF base≈95.0m ; Y1≈95.4m ; Y5≈101.0m
[DCF] Fair Price = 1.03 (EV 1.57b - Net Debt -1.65b = Equity 3.22b / Shares 3.13b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 59.45 | EPS CAGR: 29.69% | SUE: N/A | # QB: 0
Revenue Correlation: -5.74 | Revenue CAGR: -1.48% | SUE: 0.74 | # QB: 0
EPS current Year (2026-12-31): EPS=0.21 | Chg30d=+0.00% | Revisions=-50% | GrowthEPS=-5.9% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=0.21 | Chg30d=+0.00% | Revisions=-29% | GrowthEPS=+1.3% | GrowthRev=-1.0%
[Analyst] Revisions Ratio: -50% (up=1, down=6)