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Ascopiave S.p.A.
(ASC)
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Rating:71Outperform
Price Target:
€3.00
▲(1.69% Upside)
Action:Upgraded
Date:08/01/26
The score is driven primarily by solid underlying financial performance (strong profitability and improving cash generation, tempered by leverage and volatility) and very attractive valuation (low P/E and high dividend yield). These positives are partially offset by weak technical positioning, with the stock trading below key moving averages.
Positive Factors
Regulated distribution stability
Ascopiave’s core regulated distribution business generates tariff‑based, regulator‑set returns tied to a recognized asset base. That regulatory model produces predictable cash flows and margin protection versus commodity exposure, supporting long‑term planning and financing capacity.
Negative Factors
Rising leverage trend
Leverage has risen materially in recent years, reducing balance sheet headroom. Higher debt relative to equity increases interest and refinancing risk, constraining strategic investments or dividend flexibility if cash flow weakens or regulatory returns soften.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated distribution stability
Ascopiave’s core regulated distribution business generates tariff‑based, regulator‑set returns tied to a recognized asset base. That regulatory model produces predictable cash flows and margin protection versus commodity exposure, supporting long‑term planning and financing capacity.
Read all positive factors
Ascopiave S.p.A. (ASC) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€582.95M
Dividend Yield11.9%
Average Volume (3M)60.64K
Price to Earnings (P/E)6.8
Beta (1Y)0.12
Revenue Growth33.51%
EPS GrowthN/A
CountryIT
Employees741
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.17
Shares Outstanding234,411,580
10 Day Avg. Volume67,552
30 Day Avg. Volume60,640
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.78
Price to Sales (P/S)2.93
P/FCF Ratio6.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€3.83Price Target Upside29.66% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.18
Revenue Forecast (FY)€275.27M
Ascopiave S.p.A. Business Overview & Revenue Model
Company Description
Ascopiave S.p.A. engages in the distribution of natural gas in Italy. It operates through Gas Distribution, Renewable Energy, and Other segments. The company holds concessions and direct assignments for the management of gas distribution in variou...
How the Company Makes Money
Ascopiave makes money mainly through two business lines: (1) regulated natural gas distribution and (2) energy (natural gas) sales to end users.
1) Regulated gas distribution (network business)
- Revenue generation: As a gas distribution operator...
Ascopiave S.p.A. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 285.45M | 244.32M | 204.96M | 180.79M | 163.65M | 134.91M |
| Gross Profit | 83.80M | 153.20M | 194.91M | 106.57M | 109.81M | 104.49M |
| EBITDA | 137.27M | 154.10M | 108.09M | 100.97M | 82.30M | 69.87M |
| Net Income | 36.28M | 86.84M | 35.82M | 36.18M | 32.66M | 45.33M |
Balance Sheet | ||||||
| Total Assets | 1.82B | 1.83B | 1.45B | 1.46B | 1.65B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 18.51M | 35.56M | 35.00M | 53.83M | 77.74M | 43.45M |
| Total Debt | 662.64M | 625.32M | 425.60M | 447.77M | 464.11M | 393.04M |
| Total Liabilities | 923.59M | 919.89M | 594.53M | 607.70M | 761.21M | 502.05M |
| Stockholders Equity | 891.64M | 912.40M | 847.97M | 844.75M | 866.28M | 868.54M |
Cash Flow | ||||||
| Free Cash Flow | 92.61M | 114.14M | 20.11M | -81.45M | 11.62M | -2.28M |
| Operating Cash Flow | 134.95M | 139.89M | 101.18M | 6.13M | 98.52M | 42.16M |
| Investing Cash Flow | -151.96M | -295.10M | -67.60M | 25.84M | -83.28M | -91.78M |
| Financing Cash Flow | -23.48M | 155.68M | -51.49M | -80.02M | 19.14M | 4.49M |
Ascopiave S.p.A. Technical Analysis
Negative
2.95
Price Trends
3.00
Negative
3.11
Negative
3.16
Negative
Market Momentum
>-0.01
Positive
39.37
Neutral
13.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ASC, the sentiment is Negative. The current price of 2.95 is below the 20-day moving average (MA) of 2.99, below the 50-day MA of 3.00, and below the 200-day MA of 3.16, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.37 is Neutral, neither overbought nor oversold. The STOCH value of 13.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:ASC.
Ascopiave S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €582.95M | 6.82 | 9.41% | 10.85% | 33.51% | ― | |
68 Neutral | €19.74B | 12.80 | 9.40% | 3.36% | 8.61% | -17.99% | |
63 Neutral | €9.09B | 19.88 | 18.43% | 4.30% | ― | ― | |
61 Neutral | €4.48B | 6.36 | 18.08% | 4.41% | -20.70% | 83.10% | |
56 Neutral | €7.11B | 10.46 | 12.19% | 4.42% | 13.73% | -15.88% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €1.07B | 11.43 | 24.26% | 2.94% | 12.56% | 12.53% |
* General Sector Average
IT:ASC
Ascopiave S.p.A.
2.69
-0.28
-9.37%
IT:A2A
A2A SpA
2.27
0.21
10.04%
IT:ACE
ACEA SPA
21.10
2.32
12.38%
IT:ARN
Alerion CleanPower
19.86
1.36
7.36%
IT:SRG
SNAM S.p.A.
5.89
1.01
20.58%
IT:IG
Italgas S.p.A.
8.95
1.91
27.15%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.