ASCOPIAVE SPA (ASC.MI) Stock Fundamental Analysis

BIT:ASC • IT0004093263

3.87 EUR
+0.03 (+0.7%)
Last: Feb 20, 2026, 05:29 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

ASC gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 5 industry peers in the Gas Utilities industry. There are concerns on the financial health of ASC while its profitability can be described as average. ASC is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year ASC was profitable.
  • In the past year ASC had a positive cash flow from operations.
  • In the past 5 years ASC has always been profitable.
  • Each year in the past 5 years ASC had a positive operating cash flow.
ASC.MI Yearly Net Income VS EBIT VS OCF VS FCFASC.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

1.2 Ratios

  • ASC has a Return On Assets of 4.90%. This is comparable to the rest of the industry: ASC outperforms 60.00% of its industry peers.
  • Looking at the Return On Equity, with a value of 9.58%, ASC is doing worse than 60.00% of the companies in the same industry.
  • ASC has a Return On Invested Capital of 3.57%. This is amonst the worse of the industry: ASC underperforms 80.00% of its industry peers.
  • ASC had an Average Return On Invested Capital over the past 3 years of 2.44%. This is below the industry average of 6.44%.
  • The 3 year average ROIC (2.44%) for ASC is below the current ROIC(3.57%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.9%
ROE 9.58%
ROIC 3.57%
ROA(3y)2.31%
ROA(5y)2.91%
ROE(3y)4.09%
ROE(5y)4.87%
ROIC(3y)2.44%
ROIC(5y)2.43%
ASC.MI Yearly ROA, ROE, ROICASC.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

1.3 Margins

  • ASC's Profit Margin of 35.47% is fine compared to the rest of the industry. ASC outperforms 80.00% of its industry peers.
  • In the last couple of years the Profit Margin of ASC has declined.
  • ASC has a Operating Margin (26.94%) which is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of ASC has grown nicely.
  • The Gross Margin of ASC (94.46%) is better than 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of ASC has remained more or less at the same level.
Industry RankSector Rank
OM 26.94%
PM (TTM) 35.47%
GM 94.46%
OM growth 3Y-1.51%
OM growth 5Y6.84%
PM growth 3Y-19.1%
PM growth 5Y-46.2%
GM growth 3Y-2.25%
GM growth 5Y-1.44%
ASC.MI Yearly Profit, Operating, Gross MarginsASC.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 100 200 300

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ASC is destroying value.
  • ASC has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ASC has less shares outstanding
  • Compared to 1 year ago, ASC has an improved debt to assets ratio.
ASC.MI Yearly Shares OutstandingASC.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
ASC.MI Yearly Total Debt VS Total AssetsASC.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

  • Based on the Altman-Z score of 1.43, we must say that ASC is in the distress zone and has some risk of bankruptcy.
  • ASC has a Altman-Z score of 1.43. This is comparable to the rest of the industry: ASC outperforms 60.00% of its industry peers.
  • A Debt/Equity ratio of 0.57 indicates that ASC is somewhat dependend on debt financing.
  • ASC has a Debt to Equity ratio of 0.57. This is in the better half of the industry: ASC outperforms 80.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF N/A
Altman-Z 1.43
ROIC/WACC0.52
WACC6.81%
ASC.MI Yearly LT Debt VS Equity VS FCFASC.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

  • ASC has a Current Ratio of 0.81. This is a bad value and indicates that ASC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.81, ASC is doing worse than 60.00% of the companies in the same industry.
  • A Quick Ratio of 0.76 indicates that ASC may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.76, ASC is not doing good in the industry: 60.00% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.76
ASC.MI Yearly Current Assets VS Current LiabilitesASC.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • ASC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 75.86%, which is quite impressive.
  • Measured over the past years, ASC shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -40.36% on average per year.
  • ASC shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.11%.
  • Measured over the past years, ASC shows a quite strong growth in Revenue. The Revenue has been growing by 10.02% on average per year.
EPS 1Y (TTM)75.86%
EPS 3Y-7.42%
EPS 5Y-40.36%
EPS Q2Q%37.09%
Revenue 1Y (TTM)20.11%
Revenue growth 3Y14.28%
Revenue growth 5Y10.02%
Sales Q2Q%60.87%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.46% on average over the next years. This is quite good.
  • Based on estimates for the next years, ASC will show a quite strong growth in Revenue. The Revenue will grow by 9.04% on average per year.
EPS Next Y24.14%
EPS Next 2Y9.86%
EPS Next 3Y8.46%
EPS Next 5YN/A
Revenue Next Year29.22%
Revenue Next 2Y16.65%
Revenue Next 3Y13.11%
Revenue Next 5Y9.04%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
ASC.MI Yearly Revenue VS EstimatesASC.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 100M 200M 300M 400M 500M
ASC.MI Yearly EPS VS EstimatesASC.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.05 0.1 0.15 0.2

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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 9.67 indicates a reasonable valuation of ASC.
  • Based on the Price/Earnings ratio, ASC is valued cheaper than 100.00% of the companies in the same industry.
  • ASC is valuated cheaply when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
  • ASC is valuated rather expensively with a Price/Forward Earnings ratio of 21.90.
  • Based on the Price/Forward Earnings ratio, ASC is valued a bit more expensive than 60.00% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of ASC to the average of the S&P500 Index (28.02), we can say ASC is valued slightly cheaper.
Industry RankSector Rank
PE 9.67
Fwd PE 21.9
ASC.MI Price Earnings VS Forward Price EarningsASC.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASC indicates a rather expensive valuation: ASC more expensive than 80.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.58
ASC.MI Per share dataASC.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 3

4.3 Compensation for Growth

  • ASC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.4
PEG (5Y)N/A
EPS Next 2Y9.86%
EPS Next 3Y8.46%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • ASC has a Yearly Dividend Yield of 4.17%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.43, ASC has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, ASC pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.17%

5.2 History

  • The dividend of ASC decreases each year by -16.09%.
Dividend Growth(5Y)-16.09%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • ASC pays out 37.74% of its income as dividend. This is a sustainable payout ratio.
DP37.74%
EPS Next 2Y9.86%
EPS Next 3Y8.46%
ASC.MI Yearly Income VS Free CF VS DividendASC.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M
ASC.MI Dividend Payout.ASC.MI Dividend Payout, showing the Payout Ratio.ASC.MI Dividend Payout.PayoutRetained Earnings

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ASCOPIAVE SPA

BIT:ASC (2/20/2026, 5:29:43 PM)

3.87

+0.03 (+0.7%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)11-06
Earnings (Next)03-04
Inst Owners3.73%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap907.17M
Revenue(TTM)242.53M
Net Income(TTM)86.02M
Analysts77.14
Price Target3.84 (-0.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.17%
Yearly Dividend0.14
Dividend Growth(5Y)-16.09%
DP37.74%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-6.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.02%
Valuation
Industry RankSector Rank
PE 9.67
Fwd PE 21.9
P/S 3.74
P/FCF N/A
P/OCF 8.16
P/B 1.01
P/tB N/A
EV/EBITDA 12.58
EPS(TTM)0.4
EY10.34%
EPS(NY)0.18
Fwd EY4.57%
FCF(TTM)-1.81
FCFYN/A
OCF(TTM)0.47
OCFY12.26%
SpS1.03
BVpS3.83
TBVpS-1.49
PEG (NY)0.4
PEG (5Y)N/A
Graham Number5.87
Profitability
Industry RankSector Rank
ROA 4.9%
ROE 9.58%
ROCE 4.41%
ROIC 3.57%
ROICexc 3.63%
ROICexgc 25.23%
OM 26.94%
PM (TTM) 35.47%
GM 94.46%
FCFM N/A
ROA(3y)2.31%
ROA(5y)2.91%
ROE(3y)4.09%
ROE(5y)4.87%
ROIC(3y)2.44%
ROIC(5y)2.43%
ROICexc(3y)2.57%
ROICexc(5y)2.57%
ROICexgc(3y)7.7%
ROICexgc(5y)7.29%
ROCE(3y)3.01%
ROCE(5y)2.99%
ROICexgc growth 3Y8.89%
ROICexgc growth 5Y15.04%
ROICexc growth 3Y6.65%
ROICexc growth 5Y13.01%
OM growth 3Y-1.51%
OM growth 5Y6.84%
PM growth 3Y-19.1%
PM growth 5Y-46.2%
GM growth 3Y-2.25%
GM growth 5Y-1.44%
F-Score5
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF N/A
Debt/EBITDA 4.18
Cap/Depr 935.24%
Cap/Sales 220.8%
Interest Coverage 250
Cash Conversion 90.7%
Profit Quality N/A
Current Ratio 0.81
Quick Ratio 0.76
Altman-Z 1.43
F-Score5
WACC6.81%
ROIC/WACC0.52
Cap/Depr(3y)175.72%
Cap/Depr(5y)164.03%
Cap/Sales(3y)48.72%
Cap/Sales(5y)42.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)75.86%
EPS 3Y-7.42%
EPS 5Y-40.36%
EPS Q2Q%37.09%
EPS Next Y24.14%
EPS Next 2Y9.86%
EPS Next 3Y8.46%
EPS Next 5YN/A
Revenue 1Y (TTM)20.11%
Revenue growth 3Y14.28%
Revenue growth 5Y10.02%
Sales Q2Q%60.87%
Revenue Next Year29.22%
Revenue Next 2Y16.65%
Revenue Next 3Y13.11%
Revenue Next 5Y9.04%
EBIT growth 1Y0.52%
EBIT growth 3Y12.55%
EBIT growth 5Y17.55%
EBIT Next Year224.33%
EBIT Next 3Y52.41%
EBIT Next 5Y39.11%
FCF growth 1Y-482.97%
FCF growth 3Y-12.35%
FCF growth 5YN/A
OCF growth 1Y396.08%
OCF growth 3Y6.94%
OCF growth 5Y31.62%

ASCOPIAVE SPA / ASC.MI FAQ

What is the ChartMill fundamental rating of ASCOPIAVE SPA (ASC.MI) stock?

ChartMill assigns a fundamental rating of 5 / 10 to ASC.MI.


Can you provide the valuation status for ASCOPIAVE SPA?

ChartMill assigns a valuation rating of 4 / 10 to ASCOPIAVE SPA (ASC.MI). This can be considered as Fairly Valued.


Can you provide the profitability details for ASCOPIAVE SPA?

ASCOPIAVE SPA (ASC.MI) has a profitability rating of 5 / 10.


How financially healthy is ASCOPIAVE SPA?

The financial health rating of ASCOPIAVE SPA (ASC.MI) is 2 / 10.


Is the dividend of ASCOPIAVE SPA sustainable?

The dividend rating of ASCOPIAVE SPA (ASC.MI) is 6 / 10 and the dividend payout ratio is 37.74%.