(A2A) A2A S.p.A - Overview
Sector: Utilities | Industry: Utilities - Diversified | Exchange: MI (Italy) | Market Cap: 7.109m EUR | Total Return: 4.7% in 12m
Avg Turnover: 25.4M
EPS Trend: 59.5%
Rev. Trend: -5.7%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
A2A S.p.A. is a multi-utility company based in Milan, Italy, operating across the energy, waste, and water sectors. The firm manages a diversified energy portfolio that includes hydroelectric, thermoelectric, and renewable generation assets, alongside gas distribution and district heating networks.
The company utilizes an integrated utility business model, which creates synergies between waste management and energy production by converting refuse into heat and electricity. Unlike pure-play power generators, integrated utilities often benefit from more stable regulated cash flows derived from municipal services like water management and public lighting.
In addition to core commodities, A2A provides urban infrastructure services such as electric mobility solutions, video surveillance, and energy efficiency consultancy. Investors may find it useful to examine ValueRay for deeper insights into the companys valuation metrics.
- Renewable energy capacity expansion targets drive long-term capital expenditure and valuation
- Italian national waste management infrastructure demand stabilizes recurring EBITDA margins
- Fluctuations in natural gas and electricity market prices impact generation spreads
- Regulatory changes to Italian energy distribution concessions create long-term revenue uncertainty
- High debt levels increase sensitivity to European Central Bank interest rate policy
| 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 0.23%; Δ 2.54k% > 0.5%) |
| Asset Turnover: 136.6% > 50% (prev 82.24%; Δ 54.41% > 0%) |
| Interest Coverage Ratio: 13.11 > 6 (EBITDA TTM 3.59b / 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 5.93b / 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 25.59% / 22.71%) |
| 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 = -3.04 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 2.28 with a total of 7,250,003 shares traded.
Over the past week, the price has changed by +4.74%,
over one month by -0.29%,
over three months by -1.16% and
over the past year by +4.65%.
A2A S.p.A has no consensus analysts rating.
P/E Trailing = 9.4792
P/E Forward = 12.0337
P/S = 0.4856
P/B = 1.1637
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 = 5.46b EUR (7.11b + Debt 231.0m - CCE 1.88b)
Interest Coverage Ratio = 13.11 (Ebit TTM 2.63b / Interest Expense TTM 201.0m)
EV/FCF = 57.48x (Enterprise Value 5.46b / FCF TTM 95.0m)
FCF Yield = 1.74% (FCF TTM 95.0m / Enterprise Value 5.46b)
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 5.46b / Total Assets 21.4b)
Interest Expense / Debt = 87.01% (Interest Expense 201.0m / Debt 231.0m)
Taxrate = 28.39% (310.0m / 1.09b)
NOPAT = 1.89b (EBIT 2.63b * (1 - 28.39%))
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 = 13.96% (NOPAT 1.89b / Invested Capital 13.5b)
WACC = 6.17% (E(7.11b)/V(7.34b) * Re(6.37%) + (debt cost/tax rate unavailable))
Discount Rate = 6.37% (= 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 3.12b; 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=+0.19% | Revisions=-43% | GrowthEPS=-5.9% | GrowthRev=-0.0%
EPS next Year (2027-12-31): EPS=0.21 | Chg30d=-1.04% | Revisions=-25% | GrowthEPS=+1.3% | GrowthRev=-0.8%
[Analyst] Revisions Ratio: -43%