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.
Acinque S.p.A. is an Italian multi-utility company specializing in energy and environmental services, primarily operating in the Lombardy region. Its core activities include the sale and distribution of electricity, natural gas, and water, complemented by power generation from renewable sources such as hydroelectric and photovoltaic plants. The company also provides district heating, waste collection and recovery, urban hygiene, waste-to-energy solutions, electric mobility, smart city technologies, public lighting, and network services. With a strong emphasis on sustainability, Acinque S.p.A. implements a Green Financing Framework to fund projects in renewable energy, energy efficiency, and sustainable water management. Founded in 1961 and formerly known as Acsm-Agam S.p.A. until its rebranding in October 2022, the company is headquartered in Monza, with operations centered in areas like Como and Varese. Employing around 851 people, Acinque S.p.A. plays a vital role in supporting local communities through innovative public utility services and environmental stewardship in Italy's utilities sector.
Operating margin is thin at 5.56%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.8%, essentially flat. Margins also contracted 2.1pp. This is a business that needs a catalyst.
Free cash flow declined 96% versus the prior year, cash generation momentum has weakened. Net debt of €189M represents 32.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€533M
▲ +0.8% YoY
Net Income (TTM)
€21M
▼ -1.3% YoY
Op. Margin
5.65%
▼ -2.1pp YoY
ROIC
2.48%
▼ -0.9pp YoY
Cash Flow & Balance Sheet
FCF (FY)
€6M
▼ -96.0% YoY
Op. Cash Flow (FY)
€58M
▼ -64.9% YoY
Net Debt
€189M
Cash & Equiv.
€76M
3Y CAGR: -4.5%
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