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ELIA GROUP SA/NV (ELI.BR) Stock Fundamental Analysis

EBR:ELI - Euronext Brussels - BE0003822393 - Common Stock - Currency: EUR

81.85  -0.15 (-0.18%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to ELI. ELI was compared to 16 industry peers in the Electric Utilities industry. ELI may be in some trouble as it scores bad on both profitability and health. ELI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

ELI had positive earnings in the past year.
ELI had a negative operating cash flow in the past year.
ELI had positive earnings in each of the past 5 years.
In multiple years ELI reported negative operating cash flow during the last 5 years.
ELI.BR Yearly Net Income VS EBIT VS OCF VS FCFELI.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B

1.2 Ratios

With a Return On Assets value of 1.54%, ELI is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
The Return On Equity of ELI (6.57%) is worse than 75.00% of its industry peers.
The Return On Invested Capital of ELI (2.74%) is worse than 81.25% of its industry peers.
ELI had an Average Return On Invested Capital over the past 3 years of 2.92%. This is significantly below the industry average of 8.57%.
Industry RankSector Rank
ROA 1.54%
ROE 6.57%
ROIC 2.74%
ROA(3y)1.62%
ROA(5y)1.67%
ROE(3y)6.29%
ROE(5y)6.24%
ROIC(3y)2.92%
ROIC(5y)3.23%
ELI.BR Yearly ROA, ROE, ROICELI.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8

1.3 Margins

ELI's Profit Margin of 9.72% is fine compared to the rest of the industry. ELI outperforms 68.75% of its industry peers.
In the last couple of years the Profit Margin of ELI has declined.
With a decent Operating Margin value of 19.30%, ELI is doing good in the industry, outperforming 68.75% of the companies in the same industry.
ELI's Operating Margin has declined in the last couple of years.
ELI has a Gross Margin of 43.75%. This is comparable to the rest of the industry: ELI outperforms 43.75% of its industry peers.
In the last couple of years the Gross Margin of ELI has declined.
Industry RankSector Rank
OM 19.3%
PM (TTM) 9.72%
GM 43.75%
OM growth 3Y-12.99%
OM growth 5Y-5.8%
PM growth 3Y-9.3%
PM growth 5Y-9.9%
GM growth 3Y-5.05%
GM growth 5Y-3.05%
ELI.BR Yearly Profit, Operating, Gross MarginsELI.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

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0

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ELI is destroying value.
The number of shares outstanding for ELI remains at a similar level compared to 1 year ago.
ELI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ELI is higher compared to a year ago.
ELI.BR Yearly Shares OutstandingELI.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
ELI.BR Yearly Total Debt VS Total AssetsELI.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B

2.2 Solvency

ELI has an Altman-Z score of 0.58. This is a bad value and indicates that ELI is not financially healthy and even has some risk of bankruptcy.
ELI has a worse Altman-Z score (0.58) than 81.25% of its industry peers.
ELI has a Debt/Equity ratio of 2.22. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of ELI (2.22) is worse than 81.25% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.22
Debt/FCF N/A
Altman-Z 0.58
ROIC/WACC0.73
WACC3.74%
ELI.BR Yearly LT Debt VS Equity VS FCFELI.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B 4B 6B 8B

2.3 Liquidity

A Current Ratio of 0.87 indicates that ELI may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.87, ELI is doing worse than 68.75% of the companies in the same industry.
A Quick Ratio of 0.85 indicates that ELI may have some problems paying its short term obligations.
With a Quick ratio value of 0.85, ELI perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.85
ELI.BR Yearly Current Assets VS Current LiabilitesELI.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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5

3. Growth

3.1 Past

The earnings per share for ELI have decreased by -0.88% in the last year.
ELI shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.12% yearly.
Looking at the last year, ELI shows a very negative growth in Revenue. The Revenue has decreased by -13.66% in the last year.
ELI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.71% yearly.
EPS 1Y (TTM)-0.88%
EPS 3Y6.78%
EPS 5Y-0.12%
EPS Q2Q%11.76%
Revenue 1Y (TTM)-13.66%
Revenue growth 3Y20.26%
Revenue growth 5Y14.71%
Sales Q2Q%1.32%

3.2 Future

ELI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.80% yearly.
The Revenue is expected to grow by 12.18% on average over the next years. This is quite good.
EPS Next Y13.81%
EPS Next 2Y9.97%
EPS Next 3Y10.5%
EPS Next 5Y8.8%
Revenue Next Year0.81%
Revenue Next 2Y9.64%
Revenue Next 3Y12.55%
Revenue Next 5Y12.18%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
ELI.BR Yearly Revenue VS EstimatesELI.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
ELI.BR Yearly EPS VS EstimatesELI.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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3

4. Valuation

4.1 Price/Earnings Ratio

ELI is valuated rather expensively with a Price/Earnings ratio of 17.49.
Compared to the rest of the industry, the Price/Earnings ratio of ELI is on the same level as its industry peers.
ELI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.80.
A Price/Forward Earnings ratio of 14.83 indicates a correct valuation of ELI.
Based on the Price/Forward Earnings ratio, ELI is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of ELI to the average of the S&P500 Index (21.91), we can say ELI is valued slightly cheaper.
Industry RankSector Rank
PE 17.49
Fwd PE 14.83
ELI.BR Price Earnings VS Forward Price EarningsELI.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

62.50% of the companies in the same industry are cheaper than ELI, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.78
ELI.BR Per share dataELI.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 60

4.3 Compensation for Growth

ELI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.27
PEG (5Y)N/A
EPS Next 2Y9.97%
EPS Next 3Y10.5%

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3

5. Dividend

5.1 Amount

ELI has a Yearly Dividend Yield of 1.75%. Purely for dividend investing, there may be better candidates out there.
ELI's Dividend Yield is slightly below the industry average, which is at 4.61.
ELI's Dividend Yield is slightly below the S&P500 average, which is at 2.39.
Industry RankSector Rank
Dividend Yield 1.75%

5.2 History

The dividend of ELI has a limited annual growth rate of 3.71%.
Dividend Growth(5Y)3.71%
Div Incr Years5
Div Non Decr Years5
ELI.BR Yearly Dividends per shareELI.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

42.58% of the earnings are spent on dividend by ELI. This is a bit on the high side, but may be sustainable.
ELI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP42.58%
EPS Next 2Y9.97%
EPS Next 3Y10.5%
ELI.BR Yearly Income VS Free CF VS DividendELI.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B
ELI.BR Dividend Payout.ELI.BR Dividend Payout, showing the Payout Ratio.ELI.BR Dividend Payout.PayoutRetained Earnings

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ELIA GROUP SA/NV

EBR:ELI (3/28/2025, 1:33:28 PM)

81.85

-0.15 (-0.18%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)03-07 2025-03-07/amc
Earnings (Next)05-21 2025-05-21
Inst Owners16.33%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap6.02B
Analysts80
Price Target106.01 (29.52%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.75%
Yearly Dividend1.91
Dividend Growth(5Y)3.71%
DP42.58%
Div Incr Years5
Div Non Decr Years5
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)-13.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.48%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 17.49
Fwd PE 14.83
P/S 1.7
P/FCF N/A
P/OCF N/A
P/B 1.15
P/tB 2.45
EV/EBITDA 12.78
EPS(TTM)4.68
EY5.72%
EPS(NY)5.52
Fwd EY6.74%
FCF(TTM)-55.45
FCFYN/A
OCF(TTM)-10.18
OCFYN/A
SpS48.07
BVpS71.19
TBVpS33.36
PEG (NY)1.27
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.54%
ROE 6.57%
ROCE 3.77%
ROIC 2.74%
ROICexc 3.17%
ROICexgc 3.85%
OM 19.3%
PM (TTM) 9.72%
GM 43.75%
FCFM N/A
ROA(3y)1.62%
ROA(5y)1.67%
ROE(3y)6.29%
ROE(5y)6.24%
ROIC(3y)2.92%
ROIC(5y)3.23%
ROICexc(3y)3.76%
ROICexc(5y)3.9%
ROICexgc(3y)4.95%
ROICexgc(5y)5.19%
ROCE(3y)4.02%
ROCE(5y)4.44%
ROICexcg growth 3Y-2.67%
ROICexcg growth 5Y-10.8%
ROICexc growth 3Y-1.76%
ROICexc growth 5Y-6.46%
OM growth 3Y-12.99%
OM growth 5Y-5.8%
PM growth 3Y-9.3%
PM growth 5Y-9.9%
GM growth 3Y-5.05%
GM growth 5Y-3.05%
F-Score3
Asset Turnover0.16
Health
Industry RankSector Rank
Debt/Equity 2.22
Debt/FCF N/A
Debt/EBITDA 9.2
Cap/Depr 573.52%
Cap/Sales 94.19%
Interest Coverage 2.73
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.87
Quick Ratio 0.85
Altman-Z 0.58
F-Score3
WACC3.74%
ROIC/WACC0.73
Cap/Depr(3y)327.32%
Cap/Depr(5y)309.75%
Cap/Sales(3y)50.5%
Cap/Sales(5y)50.42%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-0.88%
EPS 3Y6.78%
EPS 5Y-0.12%
EPS Q2Q%11.76%
EPS Next Y13.81%
EPS Next 2Y9.97%
EPS Next 3Y10.5%
EPS Next 5Y8.8%
Revenue 1Y (TTM)-13.66%
Revenue growth 3Y20.26%
Revenue growth 5Y14.71%
Sales Q2Q%1.32%
Revenue Next Year0.81%
Revenue Next 2Y9.64%
Revenue Next 3Y12.55%
Revenue Next 5Y12.18%
EBIT growth 1Y11.95%
EBIT growth 3Y4.64%
EBIT growth 5Y8.05%
EBIT Next Year116.55%
EBIT Next 3Y48.65%
EBIT Next 5Y36.18%
FCF growth 1Y-328.8%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-123.39%
OCF growth 3YN/A
OCF growth 5YN/A