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Ellomay Capital Ltd. (ELLO)

AMEX / Utilities / Renewable Utilities

Share price

21.80 USD Market dataClose of Oct 14, 2026

Market capitalisation

300.5M USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2024, filed Apr 30, 2025
Ratios computed
Oct 14, 2026
Filed years
9, FY2016 to FY2024
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

3.0% Computed

From the FY2024 filing

Read quality

Valuation

Price to book

2.27x Computed

FY2024 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-24.1% Computed

FY2024 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2015 Revenue: 12.6M EURFY2015 Net income: 6.9M EURFY2016 Revenue: 11.6M EURFY2016 Net income: -632.0K EURFY2017 Revenue: 13.6M EURFY2017 Net income: -6.6M EURFY2018 Revenue: 18.1M EURFY2018 Net income: 604.0K EURFY2019 Revenue: 19.0M EURFY2019 Net income: 9.8M EURFY2020 Revenue: 9.6M EURFY2020 Net income: -6.2M EURFY2021 Revenue: 44.7M EURFY2021 Net income: -15.1M EURFY2022 Revenue: 52.2M EURFY2022 Net income: -357.0K EURFY2023 Revenue: 48.8M EURFY2023 Net income: 2.2M EURFY2024 Revenue: 40.5M EURFY2024 Net income: -6.5M EUR
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it good

Return on invested capital was 3.0% in FY2024, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Utilities sector (53 companies), 3.0% sits at the 15th percentile; the middle half of that group runs from 4.5% to 6.1%.

Is it safe

Interest coverage was 0.39x in FY2024, in the band labelled "Distress territory" (below 1.50x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether Ellomay Capital Ltd.'s return on equity stayed above the median of the Utilities sector, year by year. (FY2020 to FY2024, 5 fiscal years of Ellomay Capital Ltd. with a comparable figure)
The direction
Which way Ellomay Capital Ltd.'s return on equity has moved, and how steadily. (FY2015 to FY2024, 10 filed years of Ellomay Capital Ltd.)
What could explain it
What in Ellomay Capital Ltd.'s filed statements could explain the movements. (7 readings drawn from the statement lines Ellomay Capital Ltd. filed)
What to check next
What to check next on Ellomay Capital Ltd., and where in its filings. (8 questions for Ellomay Capital Ltd.)
In one paragraph
One paragraph on Ellomay Capital Ltd.'s returns, cash, balance sheet and price. (12 of sixteen figures read for Ellomay Capital Ltd.)

These are ELLO’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research ELLOPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2024 annual report: 20-F, filed Apr 30, 2025, accession 0001213900-25-037643.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Ellomay Capital Ltd: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax3.0% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Return on equity-5.5% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Return on capital employed, pre-tax1.5% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Return on assets-1.0% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Gross margin11.8% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Operating margin22.4% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Net margin-16.1% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
ELLO -16.1%
NRGV -50.9%FLNC -2.1%SMR -1130.3%
-1130.3%-2.1%
Net margin: ELLO against the 3 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Ellomay Capital Ltd: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.58 ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Current ratio0.73 ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Quick ratio0.71 ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Interest coverage0.39x ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Altman Z-score0.33 ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Net debt146.6M ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Total assets 677.3MTotal liabilities 548.0MShareholders' equity 118.6MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Ellomay Capital Ltd owned and owed at the end of fiscal 2024, from the balance sheet it filed (20-F, filed Apr 30, 2025, 0001213900-25-037643).

Ellomay Capital Ltd: balance sheet position
Total assets677.3M FiledFY2024 20-F, filed Apr 30, 2025
Total liabilities548.0M FiledFY2024 20-F, filed Apr 30, 2025
Shareholders' equity118.6M FiledFY2024 20-F, filed Apr 30, 2025
Cash41.1M FiledFY2024 20-F, filed Apr 30, 2025
Total debt187.7M FiledFY2024 20-F, filed Apr 30, 2025
Net debt146.6M
Current ratio0.73
Debt to equity1.58

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Ellomay Capital Ltd: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.27x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Price to sales6.65x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Enterprise value to EBIT45.75x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Enterprise value to EBITDA16.64x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Diluted earnings per share
Why n/a

The FY2024 filing carries no diluted earnings per share we could read.

n/a FiledFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643

We publish no fair value or price target of our own. Value ELLO on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Ellomay Capital Ltd today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Ellomay Capital Ltd: valuation
Share price21.80 USD
Market capitalisation300.5M USD
Enterprise value to EBITDA16.64x
Graham numbern/m
Diluted earnings per share, FY2015n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Ellomay Capital Ltd

  1. Energy Vault Holdings, Inc. (NRGV)Market cap 525.6M USD
  2. Fluence Energy, Inc. (FLNC)Market cap 1.25B USD
  3. NuScale Power Corporation (SMR)Market cap 1.74B USD

Same industry (Renewable Utilities) and size band (Small, 300M to 2B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Ellomay Capital Ltd: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield-24.1% ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Free cash flow-65.0M EUR ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Free cash flow margin-160.5% ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
FY2015 Free cash flow: 4.5M EURFY2015 Net income: 6.9M EURFY2016 Free cash flow: 2.2M EURFY2016 Net income: -632.0K EURFY2017 Free cash flow: -5.3M EURFY2017 Net income: -6.6M EURFY2018 Free cash flow: 2.9M EURFY2018 Net income: 604.0K EURFY2019 Free cash flow: -70.9M EURFY2019 Net income: 9.8M EURFY2020 Free cash flow: -134.2M EURFY2020 Net income: -6.2M EURFY2021 Free cash flow: -63.6M EURFY2021 Net income: -15.1M EURFY2022 Free cash flow: -35.3M EURFY2022 Net income: -357.0K EURFY2023 Free cash flow: -50.2M EURFY2023 Net income: 2.2M EURFY2024 Free cash flow: -65.0M EURFY2024 Net income: -6.5M EUR
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Ellomay Capital Ltd.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2024Oct 14, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
2.27xFY2024Oct 14, 2026
45.75xFY2024Oct 14, 2026
-24.1%FY2024Oct 14, 2026
3.0%FY2024Apr 30, 2025
n/aFY2024Oct 14, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
1.58FY2024Apr 30, 2025
0.73FY2024Apr 30, 2025
6.65xFY2024Oct 14, 2026
n/mFY2024Oct 14, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
0.33FY2024Oct 14, 2026
1.59FY2024Apr 30, 2025
2/9FY2024Apr 30, 2025

The figures are computed from the accounts for fiscal 2024, the newest full year on file. 9 filed fiscal years on record, FY2016 to FY2024, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2015 to FY2024. 9 read from the annual reports Ellomay Capital Ltd filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in EUR, as reported.

Ellomay Capital Ltd: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202440.5M9.1M-6.5Mn/a-65.0M22.4%-5.5%20-F, Apr 30, 20250001213900-25-037643
FY202348.8M4.5M2.2Mn/a-50.2M9.3%1.9%20-F, Apr 18, 20240001213900-24-034140
FY202252.2M4.6M-357.0Kn/a-35.3M8.7%-0.4%20-F, Apr 7, 20230001178913-23-001361
FY202144.7M4.8M-15.1Mn/a-63.6M10.8%-13.0%20-F, Mar 31, 20220001178913-22-001328
FY20209.6M-2.7M-6.2Mn/a-134.2M-27.6%-5.0%20-F, Mar 31, 20210001178913-21-001241
FY201919.0M17.6M9.8Mn/a-70.9M93.0%9.2%20-F, Apr 7, 20200001178913-20-001067
FY201818.1M2.9M604.0Kn/a2.9M16.1%0.8%20-F, Mar 29, 20190001178913-19-000989
FY201713.6M3.0M-6.6Mn/a-5.3M21.7%-8.4%20-F, Apr 16, 20180001178913-18-001189
FY201611.6M2.4M-632.0Kn/a2.2M20.4%-0.7%20-F, Apr 16, 20180001178913-18-001189
FY201512.6M4.4M6.9M0.644.5M34.5%8.0%Market data, supplied Mar 8, 2026accession n/a
  • Revenue, compound annual growth FY2015 to FY2024: 13.8%
  • Earnings: Earnings was not positive in both 2015 and 2024, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Free cash flow was not positive in both 2015 and 2024, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Ellomay Capital Ltd: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score1.59 ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Piotroski F-score2/9 ComputedFY2024 20-F, filed Apr 30, 2025, 0001213900-25-037643
Named tests met0 of 30 Computed
Beta0.28 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 0 met, 26 not met, 4 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
P/E times P/B (Benjamin Graham); Cash-covered dividend; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(12)
  • Current Ratio: Graham set this test for industrial companies; for utilities he tested debt against equity.
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Altman Z-Score: Altman fitted the Z-score on manufacturers; it is not measured for a utility.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 12 figures could not be read on this company, among them Current Ratio, Positive Earnings Streak, P/E Ratio. Each blank in the table above names the rest, with its reason. 4 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 9 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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