(ACE) ACEA S.p.A. - Overview
Sector: Utilities | Industry: Utilities - Diversified | Exchange: MI (Italy) | Market Cap: 4.906m EUR | Total Return: 11.5% in 12m
Avg Turnover: 2.84M
EPS Trend: 95.0%
Rev. Trend: 15.5%
Qual. Beats: -1
Warnings
Altman Z'' 0.76 < 1.0 - financial distress zone
Tailwinds
Confidence
ACEA S.p.A. is a Rome-based multi-utility company providing essential infrastructure services across Italy. Its operations encompass the integrated water cycle, electricity distribution, public lighting, and waste-to-energy processing. The company maintains a diversified energy portfolio, generating power through hydroelectric, thermal, and photovoltaic sources.
As a multi-utility, ACEA operates under a regulated business model where a significant portion of revenue is derived from long-term concessions and government-regulated tariffs. This structure typically provides more predictable cash flows compared to purely competitive energy retailers. In the water sector, ACEA serves as one of Italy’s largest operators, managing the complex infrastructure required for collection, treatment, and distribution.
Investors looking for deeper fundamental metrics can find additional data on ValueRay. The company’s Engineering & Infrastructure segment further supports its core utilities by providing technical consultancy and project management for large-scale urban systems.
- Regulated water sector tariff adjustments drive long-term infrastructure investment returns
- Fluctuating Italian energy prices impact margins in power generation and retail
- Waste-to-energy expansion increases revenue diversification away from traditional utility services
- Cost of debt sensitivity affects financing for capital-intensive infrastructure projects
- Regulatory changes in Italian water management cycles influence predictable cash flow streams
| Net Income: 767.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.86 > 1.0 |
| NWC/Revenue: -20.05% < 20% (prev -22.14%; Δ 2.09% < -1%) |
| CFO/TA 0.26 > 3% & CFO 3.32b > Net Income 767.2m |
| Net Debt (-542.3m) to EBITDA (1.60b): -0.34 < 3 |
| Current Ratio: 0.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (212.5m) vs 12m ago 0.0% < -2% |
| Gross Margin: 64.31% > 18% (prev 0.57%; Δ 6.37k% > 0.5%) |
| Asset Turnover: 36.74% > 50% (prev 38.52%; Δ -1.77% > 0%) |
| Interest Coverage Ratio: 16.34 > 6 (EBITDA TTM 1.60b / Interest Expense TTM 58.5m) |
| A: -0.07 (Total Current Assets 2.05b - Total Current Liabilities 2.97b) / Total Assets 12.8b |
| B: 0.13 (Retained Earnings 1.68b / Total Assets 12.8b) |
| C: 0.08 (EBIT TTM 955.7m / Avg Total Assets 12.5b) |
| D: 0.28 (Book Value of Equity 2.78b / Total Liabilities 10.0b) |
| Altman-Z'' = 0.76 = B |
| DSRI: 0.84 (Receivables 848.5m/1.03b, Revenue 4.60b/4.71b) |
| GMI: 0.89 (GM 64.31% / 57.08%) |
| AQI: 1.04 (AQ_t 0.55 / AQ_t-1 0.53) |
| SGI: 0.98 (Revenue 4.60b / 4.71b) |
| TATA: -0.20 (NI 767.2m - CFO 3.32b) / TA 12.8b) |
| Beneish M = -3.45 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 23.08 with a total of 174,581 shares traded.
Over the past week, the price has changed by +2.49%,
over one month by +2.85%,
over three months by -10.47% and
over the past year by +11.51%.
ACEA S.p.A. has no consensus analysts rating.
P/E Trailing = 13.1136
P/E Forward = 12.1507
P/S = 1.8077
P/B = 1.716
P/EG = 4.051
Revenue TTM = 4.60b EUR
EBIT TTM = 955.7m EUR
EBITDA TTM = 1.60b EUR
Long Term Debt = 4.92b EUR (from longTermDebt, last quarter)
Short Term Debt = 680.6m EUR (from shortLongTermDebt, last quarter)
Debt = 83.1m EUR (Leases only: 83.1m)
Net Debt = -542.3m EUR (calculated: Debt 83.1m - CCE 625.4m)
Enterprise Value = 4.36b EUR (4.91b + Debt 83.1m - CCE 625.4m)
Interest Coverage Ratio = 16.34 (Ebit TTM 955.7m / Interest Expense TTM 58.5m)
EV/FCF = 18.53x (Enterprise Value 4.36b / FCF TTM 235.5m)
FCF Yield = 5.40% (FCF TTM 235.5m / Enterprise Value 4.36b)
FCF Margin = 5.12% (FCF TTM 235.5m / Revenue TTM 4.60b)
Net Margin = 16.67% (Net Income TTM 767.2m / Revenue TTM 4.60b)
Gross Margin = 64.31% ((Revenue TTM 4.60b - Cost of Revenue TTM 1.64b) / Revenue TTM)
Gross Margin QoQ = 63.57% (prev 66.95%)
Tobins Q-Ratio = 0.34 (Enterprise Value 4.36b / Total Assets 12.8b)
Interest Expense / Debt = 70.37% (Interest Expense 58.5m / Debt 83.1m)
Taxrate = 28.23% (88.1m / 312.2m)
NOPAT = 685.9m (EBIT 955.7m * (1 - 28.23%))
Current Ratio = 0.69 (Total Current Assets 2.05b / Total Current Liabilities 2.97b)
Debt / Equity = 0.03 (Debt 83.1m / totalStockholderEquity, last quarter 2.78b)
Debt / EBITDA = -0.34 (Net Debt -542.3m / EBITDA 1.60b)
Debt / FCF = -2.30 (Net Debt -542.3m / FCF TTM 235.5m)
Total Stockholder Equity = 2.66b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.13% (Net Income 767.2m / Total Assets 12.8b)
RoE = 28.85% (Net Income TTM 767.2m / Total Stockholder Equity 2.66b)
RoCE = 12.60% (EBIT 955.7m / Capital Employed (Equity 2.66b + L.T.Debt 4.92b))
RoIC = 7.02% (NOPAT 685.9m / Invested Capital 9.77b)
WACC = 5.88% (E(4.91b)/V(4.99b) * Re(5.98%) + (debt cost/tax rate unavailable))
Discount Rate = 5.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -44.72 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈273.3m ; Y1≈239.7m ; Y5≈193.7m
[DCF] Fair Price = 17.18 (EV 3.11b - Net Debt -542.3m = Equity 3.65b / Shares 212.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 94.99 | EPS CAGR: 28.26% | SUE: N/A | # QB: 0
Revenue Correlation: 15.48 | Revenue CAGR: 2.37% | SUE: -2.75 | # QB: -1
EPS current Year (2026-12-31): EPS=1.82 | Chg30d=+13.27% | Revisions=+33% | GrowthEPS=+0.0% | GrowthRev=+13.2%
EPS next Year (2027-12-31): EPS=1.58 | Chg30d=-1.61% | Revisions=+14% | GrowthEPS=-13.1% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: +33%