A2A A2A.MI
A2A is an Italian diversified utility operating in energy generation and sales, waste management, and distribution networks, with a regulated and market-based business model. A2A trades at a P/E of 10.39 and EV/EBITDA of 6.50, with solid financial health (score 7.03) and an attractive dividend (score 8.08), but negative free cash flow conversion and negative earnings growth weigh on quality (score 3.02).
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
A2A is an Italian diversified utility operating in energy generation and sales, waste management, and distribution networks, with a regulated and market-based business model. A2A trades at a P/E of 10.39 and EV/EBITDA of 6.50, with solid financial health (score 7.03) and an attractive dividend (score 8.08), but negative free cash flow conversion and negative earnings growth weigh on quality (score 3.02).
Score by category
| Category | Score |
|---|---|
| Financial health | 6.7 |
| Quality / Moat | 3.0 |
| Valuation | 6.4 |
| Growth | 6.3 |
| Dividend | 8.1 |
| Momentum | 4.3 |
| Risk & Context | 5.5 |
OVERALL SCORE: 6.0/10
Context and risks
The surge in crude oil and the ECB's rate hike (2.25% with another expected in September) pressure the financing costs of a utility with Net Debt/EBITDA of 2.79x. The rise in 10-year yields (5.17%) makes long-duration utility cash flows less valuable.
News considered in the analysis
- A2A SpA (AEMMY) (Q2 2026) Earnings Call Highlights: Resilient EBITDA and Strategic Progress ... — Resultados del 1S26 con EBITDA resiliente y progreso estratégico, ya parcialmente descontado tras la publicación.
- 3 European Dividend Stocks Yielding Up To 4.8% — Listículo genérico sin información específica sobre A2A.
- A2A SpA (AEMMY) Q1 2026 Earnings Call Highlights: Resilient Financials Amid Market Volatility — Resultados del 1T26 ya conocidos y ampliamente cubiertos; sin información nueva.
- European Dividend Stocks To Watch — Listículo genérico sin información específica sobre A2A.
- A2A SpA (AEMMY) Q4 2025 Earnings Call Highlights: Navigating Growth Amidst Market Challenges — Resultados del 4T25 ya conocidos y ampliamente cubiertos; sin información nueva.
Verdict: Hold positions; the stock is supported by its dividend and valuation, but weak FCF and a rising rate environment limit near-term upside.
Main risk: Negative free cash flow conversion (FCF yield -3.00) and high leverage (Net Debt/EBITDA 2.79x) in a rising ECB rate environment are the biggest risks to dividend sustainability and value creation.
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