Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
A2A S.p.A. is an Italian multi-utility company specializing in energy production, distribution, and sustainable resource management. It generates electricity from diverse sources including hydroelectric, thermoelectric, photovoltaic, cogeneration, biomass, and wind plants, while also producing, selling, and distributing gas and district heating across Italy and internationally. The company manages the full spectrum of waste services, from collection and street sweeping to treatment, disposal, and energy recovery, alongside integrated water cycle operations encompassing catchment, distribution, purification, and sewer management. A2A S.p.A. further handles public lighting, electric mobility infrastructure, video surveillance, and energy efficiency consulting, promoting electrification and circular economy principles. Headquartered in Milan with a registered office in Brescia, it employs around 14,777 people and operates extensively in Northern Italy, with facilities nationwide and in Greece, emphasizing ecological transition, decarbonization, and resource regeneration to support communities and align with UN Sustainable Development Goals. Its integrated model across energy, water, heat, and waste fosters synergies for resilience and shared value creation.
Operating margin is thin at 8.33%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 8.7%, steady but not accelerating. Margins contracted 2.4pp, which offsets some of the top-line progress.
ROIC dropped from 8.18% to 6.06%, capital efficiency is deteriorating. Net debt of €5.36B represents 56.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€13.74B
▲ +8.7% YoY
Net Income (TTM)
€782M
▼ -12.3% YoY
Op. Margin
8.33%
▼ -2.4pp YoY
ROIC
6.06%
▼ -2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€95M
▲ +125.5% YoY
Op. Cash Flow (TTM)
€319M
▼ -67.2% YoY
Net Debt
€5.36B
Cash & Equiv.
€1.90B
3Y CAGR: -15.7%
3Y CAGR: +68.1%
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