Ascopiave S.p.A. (IT:ASC)
:ASC
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Ascopiave S.p.A.
(ASC)
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Rating:65Neutral
Price Target:
€3.50
▲(1.16% Upside)
Action:Reiterated
Date:05/09/26
The score is supported primarily by strong recent operating performance and improving profitability, but is held back by rising leverage and uneven cash-flow conversion. Technicals are the main near-term drag (below key moving averages with negative MACD and weak RSI/Stoch), while valuation is balanced by a high dividend yield offset by a higher P/E.
Positive Factors
Regulated gas distribution provides stable cash flows
Ascopiave’s regulated distribution operations generate tariff-based revenue under local concessions, creating predictable, regulation-linked cash flows and a durable earnings floor. This reduces exposure to commodity cycles and supports steady capital recovery over multi-year regulatory periods.
Negative Factors
Rising leverage over recent years
Leverage has increased meaningfully over the past several years, reducing financial headroom. Higher indebtedness raises interest-service risk, limits flexibility for discretionary investment or acquisitions, and makes the company more sensitive to regulatory setbacks or capex overruns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated gas distribution provides stable cash flows
Ascopiave’s regulated distribution operations generate tariff-based revenue under local concessions, creating predictable, regulation-linked cash flows and a durable earnings floor. This reduces exposure to commodity cycles and supports steady capital recovery over multi-year regulatory periods.
Read all positive factors
Ascopiave S.p.A. (ASC) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€706.47M
Dividend Yield4.59%
Average Volume (3M)60.64K
Price to Earnings (P/E)24.6
Beta (1Y)0.20
Revenue Growth22.61%
EPS Growth120.61%
CountryIT
Employees446
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.39
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
€3.88Price Target Upside12.24% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.18
Revenue Forecast (FY)€273.02M
Ascopiave S.p.A. Business Overview & Revenue Model
Company Description
Ascopiave S.p.A. distributes and sells natural gas in Italy. The company holds concessions and direct assignments for the supply of the service in 268 municipalities; and provides services to approximately 775,000 users through a distribution netw...
How the Company Makes Money
Ascopiave makes money mainly through two business areas: (1) regulated gas distribution and (2) energy sales (gas and, where applicable, electricity) to end customers.
1) Regulated gas distribution (infrastructure)
- Revenue is generated by opera...
Ascopiave S.p.A. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
73
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 260.31M | 244.32M | 204.96M | 180.79M | 163.65M | 134.91M |
| Gross Profit | 129.15M | 85.99M | 194.91M | 106.57M | 109.81M | 104.49M |
| EBITDA | 191.41M | 154.10M | 108.09M | 100.97M | 82.30M | 69.87M |
| Net Income | 85.03M | 86.84M | 35.82M | 36.18M | 32.66M | 45.33M |
Balance Sheet | ||||||
| Total Assets | 1.90B | 1.83B | 1.45B | 1.46B | 1.65B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 81.95M | 35.56M | 35.00M | 53.83M | 77.74M | 43.45M |
| Total Debt | 678.01M | 625.32M | 425.60M | 447.77M | 464.11M | 393.04M |
| Total Liabilities | 976.28M | 919.89M | 594.53M | 607.70M | 761.21M | 502.05M |
| Stockholders Equity | 918.94M | 912.40M | 847.97M | 844.75M | 866.28M | 868.54M |
Cash Flow | ||||||
| Free Cash Flow | 89.04M | 114.14M | 20.11M | -81.45M | 11.62M | -2.28M |
| Operating Cash Flow | 146.78M | 139.89M | 101.18M | 6.13M | 98.52M | 42.16M |
| Investing Cash Flow | -331.57M | -295.10M | -67.60M | 25.84M | -83.28M | -91.78M |
| Financing Cash Flow | 230.82M | 155.68M | -51.49M | -80.02M | 19.14M | 4.49M |
Ascopiave S.p.A. Technical Analysis
Neutral
3.46
Price Trends
3.39
Negative
3.46
Negative
3.31
Negative
Market Momentum
-0.08
Negative
48.83
Neutral
69.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ASC, the sentiment is Neutral. The current price of 3.46 is above the 20-day moving average (MA) of 3.26, above the 50-day MA of 3.39, and above the 200-day MA of 3.31, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 48.83 is Neutral, neither overbought nor oversold. The STOCH value of 69.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | €21.44B | 14.95 | 17.62% | 5.18% | 8.57% | 0.85% | |
67 Neutral | €1.51B | 10.60 | 26.22% | 3.37% | 1.83% | -2.71% | |
65 Neutral | €706.47M | 24.57 | 9.91% | 4.59% | 22.61% | 120.61% | |
63 Neutral | €10.30B | 4.81 | ― | 4.05% | ― | ― | |
62 Neutral | €7.15B | 8.80 | 13.08% | 4.37% | 9.30% | -14.17% | |
60 Neutral | €4.95B | 10.72 | 14.57% | 4.33% | -43.87% | 42.07% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:ASC
Ascopiave S.p.A.
3.29
0.16
5.12%
IT:A2A
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IT:ACE
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IT:IG
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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.