HER Stock Analysis: Hera S.p.A | MI
Utilities - Diversified | MI, Italy | Market Cap: 5.618m EUR | 12M Return: 1.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 16.5M
EPS Trend: 63.9%
Rev. Trend: -58.6%
Qual. Beats: 0
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.
Hera S.p.A. is an Italian multi-utility company headquartered in Bologna, operating across three core segments: waste management, water services, and energy. Founded in 2002, the company generates revenue from the sale and distribution of natural gas and methane, electricity generation and supply, district heating, and the full water cycle including aqueducts, purification, and sewage. It also provides public lighting, telecommunications, and environmental services such as street sweeping and waste collection, serving both residential and business customers across Italy.
As a multi-utility, Hera typically operates many of its services under long-term concession agreements with local municipalities, which is the standard regulatory framework for water and waste services in Italy. Operations in these regulated segments are overseen by ARERA, the Italian Regulatory Authority for Energy, Networks, and Environment, which sets tariffs and service quality standards.
- Gas distribution margins pressured by ARERA tariff revisions
- Waste management segment scales on Italy circular economy demand
- M&A pipeline accelerates consolidation of regional Italian utilities
| Net Income: 465.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.63 > 1.0 |
| NWC/Revenue: 4.47% < 20% (prev 6.84%; Δ -2.37% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.33b > Net Income 465.2m |
| Net Debt (-1.15b) to EBITDA (1.41b): -0.82 < 3 |
| Current Ratio: 1.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.48b) vs 12m ago 1.76% < -2% |
| Gross Margin: 47.09% > 18% (prev 43.25%; Δ 3.85% > 0.5%) |
| Asset Turnover: 79.09% > 50% (prev 91.44%; Δ -12.35% > 0%) |
| Interest Coverage Ratio: 4.76 > 6 (EBIT TTM 817.6m / Interest Expense TTM 171.7m) |
| A: 0.04 (Total Current Assets 5.79b - Total Current Liabilities 5.25b) / Total Assets 15.3b |
| B: 0.01 (Retained Earnings 154.6m / Total Assets 15.3b) |
| C: 0.05 (EBIT TTM 817.6m / Avg Total Assets 15.4b) |
| D: 0.39 (Book Value of Equity 4.25b / Total Liabilities 10.8b) |
| Altman-Z'' = 1.04 = BB |
| DSRI: 1.11 (Receivables 3.01b/3.13b, Revenue 12.2b/14.1b) |
| GMI: 0.92 (GM 43.25% / 47.09%) |
| AQI: 1.08 (AQ_t 0.46 / AQ_t-1 0.43) |
| SGI: 0.86 (Revenue 12.2b / 14.1b) |
| TATA: -0.06 (NI 465.2m - CFO 1.33b) / TA 15.3b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of July 12, 2026, the stock is trading at EUR 3.79 with a total of 3,005,110 shares traded. Over the past week, the price has changed by -0.16%, over one month by +4.78%, over three months by -5.07% and over the past year by +1.29%.
Current recommended Stop Loss: 3.60 (which is 5% or 2.7 ATR below the current price).
Hera S.p.A has no consensus analysts rating.
P/E Trailing = 11.875
P/E Forward = 15.1745
P/S = 0.463
P/B = 1.3218
P/EG = 2.5307
Revenue TTM = 12.2b EUR
EBIT TTM = 817.6m EUR
EBITDA TTM = 1.41b EUR
Long Term Debt = 4.29b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 556.0m EUR (from shortLongTermDebt, last fiscal year)
Debt = 88.6m EUR (Leases only: 88.6m)
Net Debt = -1.15b EUR (calculated: Debt 88.6m - CCE 1.24b)
Enterprise Value = 4.46b EUR (5.62b + Debt 88.6m - CCE 1.24b)
Interest Coverage Ratio = 4.76 (Ebit TTM 817.6m / Interest Expense TTM 171.7m)
EV/FCF = 17.14x (Enterprise Value 4.46b / FCF TTM 260.4m)
FCF Yield = 5.83% (FCF TTM 260.4m / Enterprise Value 4.46b)
FCF Margin = 2.14% (FCF TTM 260.4m / Revenue TTM 12.2b)
Net Margin = 3.83% (Net Income TTM 465.2m / Revenue TTM 12.2b)
Gross Margin = 47.09% ((Revenue TTM 12.2b - Cost of Revenue TTM 6.43b) / Revenue TTM)
Gross Margin QoQ = 44.54% (prev 44.78%)
Tobins Q-Ratio = 0.29 (Enterprise Value 4.46b / Total Assets 15.3b)
Interest Expense / Debt = 193.8% (Interest Expense 171.7m / Debt 88.6m)
Taxrate = 28.36% (201.7m / 711.3m)
NOPAT = 585.8m (EBIT 817.6m * (1 - 28.36%))
Current Ratio = 1.10 (Total Current Assets 5.79b / Total Current Liabilities 5.25b)
Debt / Equity = 0.02 (Debt 88.6m / totalStockholderEquity, last quarter 4.25b)
Debt / EBITDA = -0.82 (Net Debt -1.15b / EBITDA 1.41b)
Debt / FCF = -4.43 (Net Debt -1.15b / FCF TTM 260.4m)
Total Stockholder Equity = 4.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.03% (Net Income 465.2m / Total Assets 15.3b)
RoE = 11.63% (Net Income TTM 465.2m / Total Stockholder Equity 4.00b)
RoCE = 9.87% (EBIT 817.6m / Capital Employed (Equity 4.00b + L.T.Debt 4.29b))
RoIC = 6.18% (NOPAT 585.8m / Invested Capital 9.48b)
WACC = 5.60% (E(5.62b)/V(5.71b) * Re(5.69%) + (debt cost/tax rate unavailable))
Discount Rate = 5.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -67.51 | Cagr: -0.39%
[DCF] Terminal Value 77.97% ; FCFF base≈222.1m ; Y1≈254.6m ; Y5≈374.7m
[DCF] Fair Price = 4.59 (EV 5.64b - Net Debt -1.15b = Equity 6.79b / Shares 1.48b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 63.95 | EPS CAGR: 7.22% | SUE: N/A | # QB: 0
Revenue Correlation: -58.63 | Revenue CAGR: -8.68% | SUE: -0.31 | # QB: 0
EPS current Year (2026-12-31): EPS=0.31 | Chg30d=+0.16% | Revisions=+0% | GrowthEPS=-0.8% | GrowthRev=-1.2%
EPS next Year (2027-12-31): EPS=0.33 | Chg30d=+0.52% | Revisions=+0% | GrowthEPS=+4.4% | GrowthRev=+1.0%
[Analyst] Revisions Ratio: +0% (up=3, down=3)