DEOLEO S.A. (OLE) AI Stock Analysis

• Market Cap: €113.50M
• Dividend Yield: N/A
• Average Volume (3M): 670.20K
• Price to Earnings (P/E): 9.6
• Beta (1Y): 0.28
• Revenue Growth: -1.52%
• EPS Growth: -116.80%
• Country: ES
• Employees: 622
• Sector: General
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): -0.06
• Shares Outstanding: 500,000,000
• 10 Day Avg. Volume: 293,103
• 30 Day Avg. Volume: 670,201
• PEG Ratio: -0.07
• Price to Book (P/B): 0.41
• Price to Sales (P/S): 0.11
• P/FCF Ratio: 10.13
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.01
• Revenue Forecast (FY): €916.00M

• Rating: 55 Neutral
• Price Target: €0.23 ▲(28.89% Upside)
• Action: Reiterated Date: 03/06/26
• Date: Action: Reiterated 03/06/26

The score is held back primarily by uneven financial performance and weak cash-flow consistency (notably the sharp 2025 free-cash-flow decline and prior negative cash flow in 2023), despite balance-sheet improvement. Offsetting factors include mildly positive technical trend signals and a reasonable earnings multiple (P/E ~9.6).

Positive Factors

Improving leverage / balance sheet

Sustained deleveraging to a ~0.57 debt/equity by 2025 meaningfully strengthens financial flexibility. A cleaner balance sheet reduces refinancing risk, supports investment or working-capital needs during cycles, and provides a durable cushion versus peers in downturns.

Strong brand and distribution network

A portfolio of well-known brands plus broad retail, food-service and export channels creates structural advantages: shelf presence, trade relationships and scale in procurement. These durable assets support stable shelf share, pricing power and multi-channel revenue sources over time.

Recent return to profit and positive cash years

Re-establishing positive OCF/FCF and modest net profit in 2025 indicates operational recovery and improved cash conversion versus prior loss years. If sustained, this underpins reinvestment, debt reduction and longer-term value creation, improving resilience to sector swings.

Negative Factors

Material revenue decline in 2025

An ~11% revenue drop in 2025 reduces scale economies and can erode negotiated procurement and distribution advantages. Persistent top-line weakness would strain margins, limit reinvestment capacity, and make sustaining recent profit recovery harder over the medium term.

Inconsistent and thin profitability

Wide swings from strong profit to losses and only a modest recovery show fragile margin durability. Thin current profitability leaves limited buffer against input-cost inflation or volume shocks, increasing execution risk and hampering reliable capital allocation decisions.

Uneven cash generation and sharp FCF drop

Volatile OCF/FCF, including a sharp FCF decline in 2025 and prior negative cash periods, signals weak cash conversion and working-capital sensitivity. This undermines funding predictability for capex, debt paydown or distributions and raises reliance on balance-sheet flexibility in tougher quarters.

DEOLEO S.A. Business Overview & Revenue Model

Company Description

Deoleo, S.A. engages in the production, transformation, and sale of vegetable oils, and other food and agricultural products in Spain, Italy, Northern Europe, North America, and internationally. The company offers olive oil; markets seed oils, table olives, vinegars, and sauces; purchases and sells, imports, exports, processes, prepares, and markets rice, and other food and agricultural products; and offers co-generation power. It offers its products under the Azalea, Bertolli, Carapelli, Carbonell, Dolcemio, Elosol, Elosua, Figaro, Friol, Giglio Oro, happyday, Hojiblanca, KOIPE, KOIPE SOL, Louit, Lupi, Maya, SAN GIORGIO, SASSO, and Sublime brands. Deoleo, S.A. was incorporated in 1955 and is headquartered in Rivas-Vaciamadrid, Spain.

How the Company Makes Money

DEOLEO generates revenue primarily through the sale of its olive oil products, leveraging its strong brand recognition and extensive distribution network. The company earns money by selling bulk olive oil to food manufacturers and retailers, as well as through retail sales of its branded products in supermarkets and grocery stores. Additionally, DEOLEO benefits from partnerships with various food service providers and distributors, allowing it to expand its market reach. The company also engages in export activities, selling its products internationally, which contributes to its revenue growth. Factors such as market demand for healthy cooking oils, brand loyalty, and effective marketing strategies play significant roles in driving its earnings.

DEOLEO S.A. Financial Statement Overview

Summary

Financials are mixed: the balance sheet is relatively supportive (deleveraging with improved debt-to-equity), but operating results have been volatile with losses in 2023–2024, only a modest return to profit in 2025, and a material revenue decline in 2025. Cash flow is a key weakness, with free cash flow dropping sharply in 2025 and prior sensitivity shown by negative OCF/FCF in 2023.

Income Statement

Profitability has been inconsistent across the period: the company swung from very strong profitability in 2020 to losses in 2023–2024, then returned to a modest profit in 2025. Revenue also shows volatility—after growth in 2024, 2025 revenue declined materially (down ~11% year over year), pressuring scale. Margins in 2025 improved versus the loss years (positive operating profit and net income), but net profitability remains thin, leaving limited cushion if input costs or volumes move against the company.

Balance Sheet

Leverage looks manageable with debt-to-equity improving over time (from roughly 1.03 in 2020 to ~0.57 in 2025) and equity remaining positive. That said, returns on equity have been volatile (strong in 2020, negative in 2023–2024, and modestly positive in 2025), reflecting uneven earnings power. Overall, the balance sheet appears supportive, but the durability of returns is still a key risk.

Cash Flow

Cash generation is positive in recent years, with operating cash flow and free cash flow both positive in 2024–2025, but the trajectory is uneven. Free cash flow fell sharply in 2025 (large negative growth rate) even as earnings turned positive, and cash conversion remains relatively light versus profit, implying working-capital or cash timing pressure. The 2023 period also showed negative operating cash flow and negative free cash flow, highlighting sensitivity during weaker operating environments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	924.35M	820.95M	996.65M	837.62M	827.45M	703.08M
Gross Profit	173.64M	129.90M	156.27M	163.46M	150.68M	193.45M
EBITDA	-27.24M	68.98M	-23.18M	-4.02M	42.97M	57.50M
Net Income	-27.74M	9.40M	-28.32M	-17.98M	2.71M	30.86M
Balance Sheet
Total Assets	793.07M	804.54M	840.04M	832.96M	880.82M	901.02M
Cash, Cash Equivalents and Short-Term Investments	24.48M	32.59M	54.13M	31.93M	68.31M	13.45M
Total Debt	167.03M	124.18M	166.05M	149.03M	167.07M	203.42M
Total Liabilities	380.80M	373.28M	424.52M	361.68M	375.70M	404.20M
Stockholders Equity	208.03M	217.33M	209.95M	238.90M	256.63M	252.88M
Cash Flow
Free Cash Flow	-4.99M	8.88M	3.72M	-15.85M	13.36M	23.58M
Operating Cash Flow	619.00K	16.80M	8.80M	-11.35M	16.86M	27.58M
Investing Cash Flow	-5.61M	-7.53M	-4.49M	-4.25M	3.71M	5.24M
Financing Cash Flow	-23.55M	-30.82M	17.90M	-19.24M	-41.48M	-18.96M

DEOLEO S.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:OLE, the sentiment is Positive. The current price of 0.18 is below the 20-day moving average (MA) of 0.23, below the 50-day MA of 0.22, and below the 200-day MA of 0.20, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.07 is Neutral, neither overbought nor oversold. The STOCH value of 59.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:OLE.

DEOLEO S.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EBRO	72 Outperform	€2.88B	13.19	9.45%	3.50%	-0.42%	-3.34%
DIA	57 Neutral	€2.37B	16.50	1180.47%	―	5.97%	―
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
OLE	55 Neutral	€113.50M	9.57	-13.27%	―	-1.52%	-116.80%