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A2A

MIL:A2A · IT0001233417
Multi-UtilitiesLarge

360

62
EV / EBIT79
Price / Owner Earnings21
Owner Earnings Yield80
Dividend Yield87
Price/Sales89
EV / Gross Profit82
Price/Book80
Return on Capital69
Cash Return on Capital84
Return on Equity63
EBIT Margin11
Gross Profitability51
Cash Conversion52
Accruals65
Owner Earnings Margin66
Sales growth25
Profit Growth72
Long-Term EPS Growth19
Owner Earnings Growth40
Reinvestment38
Price momentum46
Debt load34
Refinancing23
Debt Payback30
Liquidity66
Analyst ratings34
Opinion Changes50
Price Target Upside89
Market mood65
Value Creation10/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

A2A clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryItaly
IndustryMulti-Utilities
SizeLarge
TypePublic Company
ExchangeBIT
Employees3,128
Websitegruppoa2a.it
ISINIT0001233417
Last UpdateApr 2, 2026
Indices
MIB (Italy)Sound Pay Practices (Europe)
Themes
Power GridUtility Scale SolarEnergy ManagementDisposal and RecyclingAnaerobic DigestionClean EnergyCleanTechBiofuelSmart Water Networks (SWN)Energy EfficiencyOnshore and Offshore WindBiomass EnergyElectrical DistributionWaste ManagementWater

Description

A2A S.p.A. (A2A) is a utility company that engages in the production, sale, and distribution of gas and electricity, and district heating. The company offers a broad range of services including electricity generation and distribution, gas distributio…

Analysis

Bargain bin

A2A S.p.A. is priced cheaply, and that invites the natural question of why, since the underlying business scores below average.

On valuation, the picture is fair. The owner-earnings multiple stands at 16.4×; owner earnings: the cash an owner could take out each year.

Growth is tepid; the safety picture is adequate. The company scores 10/20 on our value-creation score: creating some value.

Flags to be aware of: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
55
2023202420252026

All-time high

100

Oct 2024

All-time low

34

Mar 2026

Average rank

80

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
89
70
91
76
Price/Earnings
61
84
76
78
Price/Book
80
69
75
84
Dividend Yield
87
57
64
70
Value (overall)
97
89
89
90

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
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