ACE Stock Analysis: ACEA S.p.A. | MI
Utilities - Diversified | MI, Italy | Market Cap: 4.612m EUR | 12M Return: 16.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.58M
EPS Trend: 96.3%
Rev. Trend: 15.4%
Warnings
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.
ACEA S.p.A. is an Italian multi-utility company headquartered in Rome and founded in 1909, operating across seven business segments: Environment, Commercial, Water, Water (Overseas), Production, Engineering & Infrastructure Projects, and Network & Public Lighting. Its activities span the full utility value chain, including waste management and waste-to-energy, electricity generation from hydro, thermal, and photovoltaic sources, power and gas distribution, and the sale of electricity and natural gas to end customers. The company also provides water services, sludge treatment and recycling, public lighting, energy management, and engineering and consultancy services, and has extended its water operations beyond Italy through a dedicated overseas segment.
As a multi-utility, ACEA combines regulated infrastructure activities (such as water and electricity distribution) with less regulated services like waste management and energy sales, a structure common in the Italian utilities sector where local incumbents often hold regional or municipal concessions. The inclusion of an overseas water segment indicates that international water services are a distinct growth lever alongside its domestic regulated businesses.
- Italian water tariff reviews set regulated returns
- Energy commodity prices pressure generation margins
- Waste management expansion diversifies utility revenue
| Net Income: 779.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.66 > 1.0 |
| NWC/Revenue: -16.02% < 20% (prev -19.36%; Δ 3.34% < -1%) |
| CFO/TA 0.27 > 3% & CFO 3.45b > Net Income 779.9m |
| Net Debt (-374.8m) to EBITDA (1.56b): -0.24 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (212.5m) vs 12m ago -0.00% < -2% |
| Gross Margin: 73.36% > 18% (prev 44.34%; Δ 29.02% > 0.5%) |
| Asset Turnover: 33.22% > 50% (prev 39.13%; Δ -5.91% > 0%) |
| Interest Coverage Ratio: 10.59 > 6 (EBIT TTM 924.1m / Interest Expense TTM 87.3m) |
| A: -0.05 (Total Current Assets 2.78b - Total Current Liabilities 3.45b) / Total Assets 13.0b |
| B: 0.09 (Retained Earnings 1.21b / Total Assets 13.0b) |
| C: 0.07 (EBIT TTM 924.1m / Avg Total Assets 12.6b) |
| D: 0.30 (Book Value of Equity 2.89b / Total Liabilities 9.68b) |
| Altman-Z'' = 0.77 = B |
| DSRI: 0.95 (Receivables 928.7m/1.12b, Revenue 4.19b/4.80b) |
| GMI: 0.60 (GM 44.34% / 73.36%) |
| AQI: 0.92 (AQ_t 0.49 / AQ_t-1 0.53) |
| SGI: 0.87 (Revenue 4.19b / 4.80b) |
| TATA: -0.21 (NI 779.9m - CFO 3.45b) / TA 13.0b) |
| Beneish M = -3.59 (Cap -4..+1) = AAA |
As of July 12, 2026, the stock is trading at EUR 21.32 with a total of 121,487 shares traded. Over the past week, the price has changed by -3.35%, over one month by -1.77%, over three months by -4.69% and over the past year by +16.79%.
Current recommended Stop Loss: 20.50 (which is 3.8% or 1.5 ATR below the current price).
ACEA S.p.A. has no consensus analysts rating.
P/E Trailing = 12.191
P/E Forward = 12.1507
P/S = 1.6669
P/B = 1.6247
P/EG = 4.051
Revenue TTM = 4.19b EUR
EBIT TTM = 924.1m EUR
EBITDA TTM = 1.56b EUR
Long Term Debt = 4.92b EUR (from longTermDebt, last quarter)
Short Term Debt = 725.1m EUR (from shortLongTermDebt, last quarter)
Debt = 83.1m EUR (Leases only: 83.1m)
Net Debt = -374.8m EUR (calculated: Debt 83.1m - CCE 457.9m)
Enterprise Value = 4.24b EUR (4.61b + Debt 83.1m - CCE 457.9m)
Interest Coverage Ratio = 10.59 (Ebit TTM 924.1m / Interest Expense TTM 87.3m)
EV/FCF = 12.76x (Enterprise Value 4.24b / FCF TTM 332.0m)
FCF Yield = 7.83% (FCF TTM 332.0m / Enterprise Value 4.24b)
FCF Margin = 7.92% (FCF TTM 332.0m / Revenue TTM 4.19b)
Net Margin = 18.61% (Net Income TTM 779.9m / Revenue TTM 4.19b)
Gross Margin = 73.36% ((Revenue TTM 4.19b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = none% (prev 63.57%)
Tobins Q-Ratio = 0.33 (Enterprise Value 4.24b / Total Assets 13.0b)
Interest Expense / Debt = 105.0% (Interest Expense 87.3m / Debt 83.1m)
Taxrate = 28.53% (262.7m / 921.0m)
NOPAT = 660.5m (EBIT 924.1m * (1 - 28.53%))
Current Ratio = 0.81 (Total Current Assets 2.78b / Total Current Liabilities 3.45b)
Debt / Equity = 0.03 (Debt 83.1m / totalStockholderEquity, last quarter 2.89b)
Debt / EBITDA = -0.24 (Net Debt -374.8m / EBITDA 1.56b)
Debt / FCF = -1.13 (Net Debt -374.8m / FCF TTM 332.0m)
Total Stockholder Equity = 2.73b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.18% (Net Income 779.9m / Total Assets 13.0b)
RoE = 28.59% (Net Income TTM 779.9m / Total Stockholder Equity 2.73b)
RoCE = 12.08% (EBIT 924.1m / Capital Employed (Equity 2.73b + L.T.Debt 4.92b))
RoIC = 7.10% (NOPAT 660.5m / Invested Capital 9.31b)
WACC = 5.64% (E(4.61b)/V(4.70b) * Re(5.74%) + (debt cost/tax rate unavailable))
Discount Rate = 5.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -44.72 | Cagr: 0.0%
[DCF] Terminal Value 77.97% ; FCFF base≈292.4m ; Y1≈335.1m ; Y5≈493.2m
[DCF] Fair Price = 36.69 (EV 7.42b - Net Debt -374.8m = Equity 7.80b / Shares 212.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 96.30 | EPS CAGR: 30.44% | SUE: N/A | # QB: 0
Revenue Correlation: 15.42 | Revenue CAGR: 2.36% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=1.82 | Chg30d=+0.99% | Revisions=+40% | GrowthEPS=+3.0% | GrowthRev=+13.5%
EPS next Year (2027-12-31): EPS=1.58 | Chg30d=+0.24% | Revisions=+17% | GrowthEPS=-13.1% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: +38% (up=4, down=1)