Ellomay Capital Ltd ELLO

UtilitiesElectric Utilities & IPPsIsrael

Last close 20.40 USD on Nov 1, 2026, −16.1% year to date

Quant rating

Quant rating D Rank 82 of 89 in Utilities

Growth D 80 of 89
Valuation D 81 of 89
Quality D 64 of 89
Revisions D 80 of 89
Momentum C 51 of 89

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 281M
Enterprise value: 862M
52-week range: 18.00 – 30.44
3-year range: 10.88 – 30.44
Dividend yield: –
Beta (5 years): 0.99
Shares outstanding: 13.8M
Next earnings: –

About the company

Ellomay Capital Ltd is an Israel-based company principally active in the field of production of renewable and clean energy. The Company owns photovoltaic (PV) plants that are operating and connected to their respective national grids in Spain and Israel. In addition, the Company holds shares in Dorad Energy Ltd, which operates a power plant in the vicinity of Ashkelon; Groen Gas Goor BV and Groen Gas Oude-Tonge BV, project companies developing anaerobic digestion plants with green gas production in the Netherlands; Talasol Solar SL, which is involved in a project to construct a photovoltaic plant in Spain; Chashgal Elyon Ltd, Agira Sheuva Electra LP, and Ellomay Pumped Storage (2014) Ltd, all of which are involved in a project to construct a pumped-storage hydropower plant at the Manara Cliff in Israel.

Growth and profitability

Growth and profitability by fiscal year
	2017	2016	2015	2014	2013	5Y avg
Revenue (mil)	50.3	41.9	53.9	55.9	50.8	–
Revenue growth	20.1%	−22.3%	−3.6%	10.0%	331.4%	33.7%
EPS (basic, normalized)	−0.69	−0.06	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	16.2%	11.8%	20.4%	24.9%	28.7%	20.4%
Net margin	−5.0%	−16.5%	8.2%	−2.0%	−35.5%	−10.1%
ROE	−1.6%	−5.7%	3.8%	−1.0%	−13.2%	−3.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	190
Current ratio	1.24x
Long-term debt (mil)	635
Net debt (mil)	593
Total equity (mil)	240
Net debt / equity	2.47x
Net debt / EBITDA	66.24x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2017 actual	50.3	+20.1%	17.1x	9.0	+12.1%	96.3x	−0.69	−1,050.0%	−29.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2018	–	–	–	–	–	–	–	–
2019	–	–	–	–	–	–	–	–
2020	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	5.9	4.7	3.4	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Electric Utilities & IPPs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ELLO Ellomay Capital Ltd	281M	66.24x	−5.0%	1.20x	–	–	–	–
ENLT Enlight Renewable Energy Ltd.	9.5B	11.34x	22.7%	4.37x	–	–	25.9x	19.1x
DNNGY Oersted A/S	26.1B	1.31x	2.4%	1.21x	11.6x	12.0x	5.8x	5.7x
BEP Brookfield Renewable Partners LP	8.6B	24.92x	−0.6%	1.96x	−56.9x	−52.8x	22.9x	21.0x
EGIEY ENGIE Brasil Energia SA	6.4B	–	–	–	–	–	–	–
CWEN Clearway Energy Inc	6.6B	–	11.8%	3.55x	−120.2x	45.5x	14.0x	12.4x
Mean		25.95x	6.3%	2.46x	−55.2x	1.6x	17.2x	14.6x
Median		18.13x	2.4%	1.96x	−56.9x	12.0x	18.4x	15.8x

Technical analysis

1M−1.5%
3M+2.0%
1Y+4.1%
3Y+101.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Ellomay Capital Ltd, fiscal years, most recent first
	2017	2016	2015	2014	2013	2012
Total revenue	50.3	41.9	53.9	55.9	50.8	11.8
Cost of revenue	42.2	36.9	42.9	42.0	36.2	9.7
Gross profit	8.1	4.9	11.0	13.9	14.6	2.1
Selling, general & administrative expenses	10.6	10.5	10.8	10.3	9.2	9.8
Research & development	–	–	–	–	–	–
Interest expense (income), operating	−19.9	−11.5	−4.8	−1.3	−0.1	−1.9
Unusual expense (income)	–	–	–	–	–	0
Other operating expenses	−4.2	−3.5	0	0	0	−2.6
Operating income	21.7	9.4	5.0	4.9	5.5	−3.2
Net interest income (expense)	−21.3	−11.5	5.3	4.9	−10.3	−3.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−10.8	−8.8	−9.2	−8.7	−21.2	−0.6
Net income before taxes	−10.5	−10.9	1.1	1.2	−26.1	−7.7
Provision for taxes	−3.0	−1.5	−1.6	1.8	−2.9	−0.2
Minority interest	5.0	2.6	1.8	−0.5	5.2	1.9
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−2.5	−6.9	4.4	−1.1	−18.0	−5.7
Extraordinary items	0	0.1	−2.0	0.8	0.9	–
Net income	−2.5	−6.8	2.4	−0.4	−17.2	−5.7
EBIT, normalized	1.8	−2.0	0.2	3.6	5.4	−30.8
EBITDA, normalized	21.1	14.4	18.4	20.8	22.5	−27.2
Basic EPS, normalized	−0.69	−0.06	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Ellomay Capital Ltd, fiscal years, most recent first
	2017	2016	2015	2014	2013	2012
Assets
Cash & short-term investments	103	42.6	57.5	52.8	81.4	93.7
Receivables	20.0	17.9	10.1	11.7	8.9	10.5
Total inventory	0.7	0.9	1.3	1.3	0.7	0.4
Prepaid expenses	5.4	2.8	2.2	2.2	2.4	2.9
Other current assets	5.2	0.8	32.4	1.3	1.9	0.1
Total current assets	134	65.1	103	69.2	95.3	108
Property, plant & equipment	718	535	484	424	414	344
Goodwill	–	–	–	–	–	–
Intangibles	–	–	0	4.4	5.4	5.6
Long-term investments	69.9	43.3	36.1	34.6	40.5	42.3
Note receivable	0.6	0.6	0.6	27.1	31.2	30.6
Other long-term assets	68.1	56.9	51.8	57.7	41.0	32.4
Total assets	991	701	676	617	627	562
Liabilities
Accounts payable	7.9	9.2	5.8	4.8	3.3	15.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	16.7	8.6	8.9	8.1	–	3.2
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	72.3	65.8	55.9	45.2	190	31.0
Other current liabilities	11.1	6.1	27.1	39.4	40.5	5.8
Total current liabilities	108	89.7	97.8	97.6	233	55.1
Long-term debt	676	474	437	390	238	334
Minority interest	28.8	11.0	11.2	−13.5	−2.0	1.0
Other liabilities	12.5	4.0	3.8	39.8	26.2	20.3
Total liabilities	826	578	549	514	496	410
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	32.9	26.5	28.3	27.4	29.1	30.7
Additional paid-in capital	113	89.3	95.1	92.1	97.6	101
Retained earnings (accumulated deficit)	20.8	8.8	5.5	−15.2	6.9	22.5
Treasury stock	−2.0	−1.8	−1.9	−1.9	−2.0	−2.1
Other equity	0	0	0	0	0	0
Total equity	165	123	127	102	132	152
Total liabilities & shareholders' equity	991	701	676	617	627	562

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Ellomay Capital Ltd, fiscal years, most recent first
	2017	2016	2015	2014	2013	2012
Operating activities
Net income	−7.5	−9.3	0.7	0.1	−22.3	−7.5
Depreciation, depletion & amortization	19.4	16.5	18.2	17.2	17.2	3.6
Deferred taxes	–	–	–	–	–	–
Non-cash items	12.8	9.3	3.2	1.5	31.0	3.3
Changes in working capital	−21.8	−8.3	−12.6	−6.7	−7.6	−6.6
Cash from operations	2.9	8.2	9.5	12.1	18.3	−7.1
Investing activities
Capital expenditures	−120	−78.1	−67.5	−52.0	−92.0	−157
Other investing cash flows	2.5	11.4	6.2	21.9	−28.0	19.9
Cash from investing	−117	−66.7	−61.3	−30.2	−120	−137
Financing activities
Financing cash flow items	67.0	−2.7	−2.1	−6.6	−1.6	−0.9
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	97.9	47.1	62.1	35.0	63.2	174
Cash from financing	165	44.5	60.1	28.4	61.6	173
Foreign exchange effects	4.0	3.2	−2.6	−4.7	10.9	−1.6
Net change in cash	54.6	−10.8	5.6	5.6	−29.1	27.3
Free cash flow	−117	−69.9	−58.0	−39.9	−73.6	−164

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.