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A2A SpA A2A.MI · EUR

Utilities · Borsa Italiana · 🇮🇹 Italy

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2.44

+0.41%

Close of 9 Nov 2026, in EUR

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in EUR, from our data supplier.

FY2025

Revenue

€13.74bn

FY2016FY2025

Net income

€750.0m

FY2016FY2025

Free cash flow

€942.0m

FY2016FY2025

Shareholders' equity

€5.92bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue€13.74bn€12.57bn€14.63bn€22.95bn€11.35bn€6.67bn€7.12bn€6.27bn€5.59bn€4.81bn
Gross profit€1.56bn€1.58bn€2.90bn€2.44bn€2.26bn€1.98bn€1.97bn€1.94bn€1.91bn€1.84bn
Operating income€918.0m€1.32bn€1.05bn€779.0m€660.0m€554.0m€687.0m€588.0m€710.0m€456.0m
Net income€750.0m€864.0m€659.0m€401.0m€504.0m€364.0m€389.0m€344.0m€293.0m€224.0m
Diluted earnings per share0.240.280.210.130.160.120.130.110.090.07

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets€21.38bn€19.89bn€18.80bn€21.37bn€18.01bn€12.23bn€10.72bn€10.33bn€9.95bn€10.38bn
Cash and short-term investments€1.88bn€1.55bn€1.47bn€2.60bn€973.0m€1.02bn€444.0m€640.0m€699.0m€620.0m
Total liabilities€14.89bn€13.89bn€14.00bn€16.90bn€13.71bn€8.11bn€7.07bn€6.81bn€6.94bn€7.11bn
Debt€6.22bn€7.27bn€6.35bn€6.89bn€5.07bn€4.50bn€3.61bn€3.68bn€3.94bn€3.79bn
Shareholders' equity€5.92bn€5.45bn€4.24bn€3.90bn€3.76bn€3.54bn€3.29bn€3.13bn€2.88bn€2.72bn
Shares outstanding3,147m3,133m3,133m3,133m3,133m3,109m3,109m3,109m3,109m3,176m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations€2.11bn€1.46bn€1.34bn€1.56bn€1.40bn€853.0m€932.0m€1.02bn€866.0m€802.0m
Capital spending−€1.17bn−€1.05bn−€1.38bn−€1.24bn−€1.07bn−€738.0m−€627.0m−€500.0m−€454.0m−€386.0m
Free cash flow€942.0m€408.0m−€34.0m€322.0m€324.0m€115.0m€305.0m€523.0m€412.0m€416.0m
Dividends paid−€332.0m−€320.0m−€302.0m−€283.0m−€248.0m−€241.0m−€218.0m−€180.0m−€153.0m−€126.0m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue€3.74bn€4.50bn€3.75bn€3.23bn€2.82bn€3.97bn€3.66bn€3.11bn
Gross profit€260.0m€429.0m€258.0m€297.0m€995.0m€759.0m€340.0m€309.0m
Operating income€269.0m€372.0m€279.0m€238.0m€303.0m€415.0m€247.0m€305.0m
Net income€148.0m€216.0m€169.0m€147.0m€177.0m€257.0m€151.0m€224.0m
Diluted earnings per share0.050.070.050.050.060.080.050.07
Cash from operations€603.0m€136.0m€539.0m€398.0m€590.0m€580.0m€216.0m€381.0m
Capital spending−€300.0m−€215.0m−€463.0m−€261.0m−€268.0m−€174.0m−€453.0m−€237.0m
Free cash flow€303.0m−€79.0m€76.0m€137.0m€322.0m€406.0m−€237.0m€144.0m
Total assets€20.85bn€23.38bn€21.38bn€19.59bn€19.92bn€20.33bn€19.89bn€17.63bn
Cash and short-term investments€1.59bn€1.82bn€1.88bn€1.40bn€1.83bn€1.58bn€1.55bn€2.05bn
Debt€7.24bn€834.0m€7.26bn€6.57bn€6.99bn€7.06bn€7.27bn€6.09bn
Shareholders' equity€5.94bn€6.11bn€5.92bn€5.68bn€5.55bn€5.70bn€5.45bn€5.38bn

Financial ratios

Data as of 9 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin11.4%12.5%19.8%10.7%19.9%29.7%
Operating margin6.7%11.4%7.1%3.7%5.9%8.3%
Net margin5.5%6.9%4.5%1.7%4.4%5.5%
Return on equity12.7%15.9%15.5%10.3%13.4%10.3%
Return on assets3.5%4.3%3.5%1.9%2.8%3.0%
Free cash flow yield45.6%35.2%38.1%39.2%34.6%22.5%
Revenue growth9.3%-14.1%-36.2%102.1%70.2%-6.4%
Earnings growth-13.2%31.1%64.3%-20.4%38.5%-6.4%
Current ratio1.05x1.12x1.11x1.15x1.05x1.31x
Debt to equity1.23x1.31x1.46x1.73x1.32x1.25x
Equity ratio27.7%27.4%22.6%18.2%20.9%28.9%
Interest coverage4.11x6.55x5.31x8.42x8.44x6.99x
Buybacks as a share of market value-0.5%0.0%0.0%0.0%-0.8%0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-15.7%15.6%11.2%
Operating income5.6%10.6%15.6%
Net income23.2%15.6%26.2%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin11.9%13.3%15.5%20.0%
Operating margin8.5%6.4%6.4%7.2%
Net margin6.1%4.2%4.3%4.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings9.77.88.89.710.711.113.414.216.417.4
Price to sales0.50.50.40.20.50.60.70.80.90.8

Dividends and splits

Per share, in the currency the company pays

Paid for 27 years. Last went ex-dividend on 18 May 2026.

FY2026FY2025FY2024FY2022FY2021FY2019FY2018FY2017
Paid in the year0.1040.100.0960.1810.080.0780.070.058
  • 1-to-1 reverse split · 27 Jul 2001

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
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