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EV/EBITDA

5.4
Current
31%
More Expensive
vs 3-y average of 4.1

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.4
=
Enterprise Value
$12.2B
/
EBITDA
€2.2B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.4
=
Enterprise Value
$12.2B
/
EBITDA
€2.2B

Valuation Scenarios

A2A SpA is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (4.1), the stock would be worth $10.81 (24% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-24%
Maximum Upside
+41%
Average Upside
2%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 5.4 $14.15
0%
3-Year Average 4.1 $10.81
-24%
5-Year Average 4.6 $12.03
-15%
Industry Average 5.7 $15.05
+6%
Country Average 7.6 $19.89
+41%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
$12.2B
/
Jan 2026
€2.2B
=
5.4
Current
$12.2B
/
Dec 2026
€2.3B
=
5.4
Forward
$12.2B
/
Dec 2027
€2.3B
=
5.3
Forward
$12.2B
/
Dec 2028
€2.4B
=
5.1
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IT
A2A SpA
OTC:AEMMY
7.5B USD 5.4 10.1
UK
National Grid PLC
LSE:NG
63.2B GBP 13.3 22.1
FR
Engie SA
PAR:ENGI
69.2B EUR 7.7 19.6
US
Sempra Energy
NYSE:SRE
60.3B USD 16.6 33.9
DE
E.ON SE
XETRA:EOAN
49.9B EUR 7.7 29.2
US
Dominion Energy Inc
NYSE:D
53.6B USD 13.2 18.5
US
Sempra
VSE:SREN
43.4B EUR 14.7 27.8
DE
RWE AG
XETRA:RWE
42.9B EUR 11.2 13.8
US
Public Service Enterprise Group Inc
NYSE:PEG
39.1B USD 14.1 18.8
US
Consolidated Edison Inc
NYSE:ED
39B USD 12.5 19.5
US
WEC Energy Group Inc
NYSE:WEC
36.9B USD 15.1 24
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
IT
A2A SpA
OTC:AEMMY
Average EV/EBITDA: 12
5.4
3%
1.8
UK
National Grid PLC
LSE:NG
13.3
12%
1.1
FR
Engie SA
PAR:ENGI
7.7
6%
1.3
US
Sempra Energy
NYSE:SRE
16.6
5%
3.3
DE
E.ON SE
XETRA:EOAN
7.7
3%
2.6
US
Dominion Energy Inc
NYSE:D
13.2
11%
1.2
US
S
Sempra
VSE:SREN
14.7
5%
2.9
DE
RWE AG
XETRA:RWE
11.2
21%
0.5
US
Public Service Enterprise Group Inc
NYSE:PEG
14.1
9%
1.6
US
Consolidated Edison Inc
NYSE:ED
12.5
11%
1.1
US
WEC Energy Group Inc
NYSE:WEC
15.1
14%
1.1
P/E Multiple
Earnings Growth PEG
IT
A2A SpA
OTC:AEMMY
Average P/E: 21.6
10.1
-2%
N/A
UK
National Grid PLC
LSE:NG
22.1
19%
1.2
FR
Engie SA
PAR:ENGI
19.6
16%
1.2
US
Sempra Energy
NYSE:SRE
33.9
30%
1.1
DE
E.ON SE
XETRA:EOAN
29.2
26%
1.1
US
Dominion Energy Inc
NYSE:D
18.5
7%
2.6
US
S
Sempra
VSE:SREN
27.8
29%
1
DE
RWE AG
XETRA:RWE
13.8
-6%
N/A
US
Public Service Enterprise Group Inc
NYSE:PEG
18.8
6%
3.1
US
Consolidated Edison Inc
NYSE:ED
19.5
8%
2.4
US
WEC Energy Group Inc
NYSE:WEC
24
11%
2.2

Market Distribution

In line with most companies in Italy
Percentile
40th
Based on 875 companies
40th percentile
5.9
Low
0.7 — 5.2
Typical Range
5.2 — 10.8
High
10.8 —
Distribution Statistics
Italy
Min 0.7
30th Percentile 5.2
Median 7.6
70th Percentile 10.8
Max 3 328.6

A2A SpA
Glance View

In the heart of Italy's economic landscape, A2A SpA stands as a prominent multi-utility company, weaving together the intricate threads of energy, environment, heat, and networks. Born from the merger of two municipal companies in Milan and Brescia in 2008, A2A has evolved to deftly navigate the challenges of modern utility management. Through its extensive portfolio, the company efficiently integrates a diverse array of services, from electricity generation and distribution to waste management and district heating. This multifaceted approach allows A2A to address varying market needs, leveraging synergies across different sectors to optimize operations and innovate consistently. A2A's financial engine is powered by its strategic investments in renewable energy sources and its comprehensive waste management operations. The company generates revenue through the sale of electricity and gas to its millions of customers, underpinned by a mix of hydroelectric, thermoelectric, and increasingly, solar and wind power assets. Meanwhile, its environmental segment transforms waste into valuable resources, emphasizing recycling and energy recovery, which not only contributes to sustainability but also boosts profitability. Through its dynamic operations, A2A embodies a modern utility company continually adapting to regulatory shifts and technological advancements, while maintaining a firm commitment to sustainable growth and shareholder value.

AEMMY Intrinsic Value
9.5 USD
Overvaluation 33%
Intrinsic Value
Price $14.15
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