A2A S.P.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.934 EUR | 0.00% |
|
+0.23% | +4.01% |
| Jun. 06 | Futures up slightly on ECB day | AN |
| Jun. 05 | Mib bullish ahead of ECB; STM and Nexi soar | AN |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,199 | 4,056 | 5,240 | 3,900 | 6,057 | - | - |
| Enterprise Value (EV) 1 | 8,366 | 7,528 | 9,353 | 8,158 | 12,139 | 11,642 | 11,705 |
| P/E ratio | 13.4 x | 11.1 x | 10.4 x | 9.72 x | 9.17 x | 10.5 x | 11.2 x |
| Yield | 4.64% | 6.13% | 4.79% | 6.82% | 5.14% | 5.26% | 5.38% |
| Capitalization / Revenue | 0.71 x | 0.59 x | 0.45 x | 0.17 x | 0.46 x | 0.48 x | 0.49 x |
| EV / Revenue | 1.14 x | 1.1 x | 0.81 x | 0.35 x | 0.92 x | 0.92 x | 0.94 x |
| EV / EBITDA | 6.78 x | 6.25 x | 6.55 x | 5.42 x | 5.75 x | 5.69 x | 5.67 x |
| EV / FCF | 27.4 x | 215 x | 26.3 x | 20.2 x | 62 x | 59.4 x | 62.7 x |
| FCF Yield | 3.65% | 0.46% | 3.8% | 4.95% | 1.61% | 1.68% | 1.59% |
| Price to Book | 1.58 x | 1.16 x | 1.43 x | 1 x | 1.3 x | 1.22 x | 1.18 x |
| Nbr of stocks (in thousands) | 3,109,184 | 3,109,184 | 3,046,750 | 3,132,905 | 3,132,905 | - | - |
| Reference price 2 | 1.672 | 1.304 | 1.720 | 1.245 | 1.934 | 1.934 | 1.934 |
| Announcement Date | 3/19/20 | 3/18/21 | 3/17/22 | 3/16/23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,324 | 6,862 | 11,549 | 23,166 | 13,197 | 12,596 | 12,404 |
| EBITDA 1 | 1,234 | 1,204 | 1,428 | 1,505 | 2,112 | 2,046 | 2,064 |
| EBIT 1 | 687 | 550 | 660 | 687 | 1,117 | 1,004 | 975.6 |
| Operating Margin | 9.38% | 8.02% | 5.71% | 2.97% | 8.47% | 7.97% | 7.87% |
| Earnings before Tax (EBT) 1 | 581 | 469 | 590 | 756 | 972.3 | 882.9 | 843.3 |
| Net income 1 | 389 | 364 | 504 | 401 | 661.5 | 578.9 | 540.3 |
| Net margin | 5.31% | 5.3% | 4.36% | 1.73% | 5.01% | 4.6% | 4.36% |
| EPS 2 | 0.1249 | 0.1171 | 0.1651 | 0.1281 | 0.2110 | 0.1847 | 0.1723 |
| Free Cash Flow 1 | 305 | 35 | 355 | 404 | 195.8 | 195.9 | 186.7 |
| FCF margin | 4.16% | 0.51% | 3.07% | 1.74% | 1.48% | 1.56% | 1.5% |
| FCF Conversion (EBITDA) | 24.72% | 2.91% | 24.86% | 26.84% | 9.27% | 9.57% | 9.04% |
| FCF Conversion (Net income) | 78.41% | 9.62% | 70.44% | 100.75% | 29.59% | 33.84% | 34.55% |
| Dividend per Share 2 | 0.0775 | 0.0800 | 0.0824 | 0.0849 | 0.0993 | 0.1018 | 0.1040 |
| Announcement Date | 3/19/20 | 3/18/21 | 3/17/22 | 3/16/23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,181 | 4,060 | 2,396 | 5,092 | 5,540 | 4,248 | 9,788 | 7,081 | 6,297 | 5,131 | 2,858 | - | 2,963 | 3,848 |
| EBITDA 1 | 559 | 690 | 269 | 469 | 389 | 319 | 708 | 440 | 357 | 500 | 380 | 880 | 474 | 703 |
| EBIT 1 | 281 | 355 | 99 | 206 | 183 | 152 | 335 | 226 | 126 | 288 | 159 | 447 | 235 | 465 |
| Operating Margin | 8.83% | 8.74% | 4.13% | 4.05% | 3.3% | 3.58% | 3.42% | 3.19% | 2% | 5.61% | 5.56% | - | 7.93% | 10.74% |
| Earnings before Tax (EBT) 1 | 243 | 329 | 78 | 179 | 168 | 294 | 462 | 201 | 93 | 254 | 125 | 379 | 200 | 434 |
| Net income 1 | 154 | 340 | 54 | 110 | 201 | 127 | 328 | 133 | -60 | 173 | 107 | 280 | 145 | 294 |
| Net margin | 4.84% | 8.37% | 2.25% | 2.16% | 3.63% | 2.99% | 3.35% | 1.88% | -0.95% | 3.37% | 3.74% | - | 4.89% | 6.77% |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/30/20 | 7/30/21 | 11/11/21 | 3/17/22 | 5/12/22 | 7/29/22 | 7/29/22 | 11/11/22 | 3/16/23 | 5/11/23 | 7/28/23 | 7/28/23 | 11/14/23 | 5/14/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,167 | 3,472 | 4,113 | 4,258 | 6,081 | 5,584 | 5,647 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.566 x | 2.884 x | 2.88 x | 2.829 x | 2.879 x | 2.729 x | 2.736 x |
| Free Cash Flow 1 | 305 | 35 | 355 | 404 | 196 | 196 | 187 |
| ROE (net income / shareholders' equity) | 12.1% | 10.7% | 13% | 11.1% | 15% | 11.4% | 10.3% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 1.060 | 1.120 | 1.200 | 1.240 | 1.490 | 1.590 | 1.640 |
| Cash Flow per Share 2 | 0.3000 | 0.1900 | 0.3700 | 0.4100 | 0.5400 | - | - |
| Capex 1 | 627 | 738 | 1,074 | 1,240 | 1,452 | 1,520 | 1,506 |
| Capex / Sales | 8.56% | 10.75% | 9.3% | 5.35% | 11.01% | 12.07% | 12.14% |
| Announcement Date | 3/19/20 | 3/18/21 | 3/17/22 | 3/16/23 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
1.934
EUR
Average target price
2.18
EUR
Spread / Average Target
+12.75%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +4.01% | 6.55B | |
| +24.12% | 155B | |
| +11.15% | 85.22B | |
| +2.57% | 82.79B | |
| +5.75% | 79.2B | |
| -0.30% | 73.66B | |
| +69.39% | 62.42B | |
| +8.72% | 46.54B | |
| 0.00% | 44.42B | |
| +9.45% | 43.12B |
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