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.
Acea S.p.A. is an Italian multiutility company specializing in the management and development of networks and services across water, energy, and environmental sectors. Originally established as Rome's municipal electricity and water provider, it has grown into Italy's leading operator in integrated water services, serving approximately 10 million people through aqueducts, sewerage, and purification in regions like Lazio, Tuscany, Umbria, Molise, and Campania. The company also handles electricity production and distribution, including 9 TWh supplied to Rome and surrounding areas, public and artistic lighting for 232,334 lamps, and sales of energy and gas totaling 6.8 TWh. In the environmental domain, Acea manages 1.8 million tons of waste annually, operates composting and waste-to-energy plants, and has entered plastics treatment, promoting a circular economy. Internationally, it provides water services in Latin American countries such as Honduras, Peru, and the Dominican Republic, serving another 10 million inhabitants. With operations encompassing 59,000 km of water networks, hydroelectric and thermoelectric plants, and engineering projects, Acea plays a pivotal role in Italy's essential infrastructure, emphasizing regulated businesses that constitute 87% of its EBITDA.
27.15% operating margin is above average. ROIC at 6.11%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 32.5% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 20% versus the prior year, cash generation momentum has weakened. Net debt of €4.99B represents 21.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€2.43B
▼ -32.5% YoY
Net Income (TTM)
€527M
▲ +38.4% YoY
Op. Margin
28.92%
▲ +9.3pp YoY
ROIC
6.11%
▲ +0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€332M
▼ -19.6% YoY
Op. Cash Flow (TTM)
€1.01B
▲ +22.1% YoY
Net Debt
€4.99B
Cash & Equiv.
€627M
3Y CAGR: -18.2%
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