Latest Ratios: P/E Ratio -96.3x · EV/EBITDA 43.1x · ROE -1.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $258M | $308M | $210M | $195M | $189M | $363M | $414M | $204M | $83M | $97M | $82M |
| Enterprise Value | $886M | $857M | $690M | $590M | $550M | $698M | $646M | $340M | $163M | $180M | $115M |
| P/E Ratio → | -96.26 | — | — | 87.94 | — | — | — | 16.93 | 78.20 | — | — |
| P/S Ratio | 6.66 | 9.08 | 5.19 | 4.00 | 3.62 | 8.11 | 42.97 | 10.75 | 4.56 | 7.08 | 7.01 |
| P/B Ratio | 1.25 | 1.86 | 1.63 | 1.56 | 2.28 | 3.20 | 3.32 | 1.90 | 1.07 | 1.25 | 0.97 |
| P/FCF | — | — | — | — | — | — | — | — | 103.97 | — | 30.45 |
| P/OCF | 126.29 | 172.21 | 26.37 | 22.68 | 16.73 | 23.83 | — | 55.01 | 12.54 | 41.89 | 10.46 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 25.29 | 17.05 | 12.09 | 10.53 | 15.59 | 66.96 | 17.91 | 9.01 | 13.17 | 9.88 |
| EV / EBITDA | 43.07 | 47.62 | 27.58 | 28.11 | 26.63 | 37.14 | 2043.70 | 14.13 | 18.70 | 24.03 | 16.95 |
| EV / EBIT | 510.95 | 103.56 | 153.58 | 45.31 | 50.51 | 148.29 | — | 19.39 | — | 125.80 | 115.42 |
| EV / FCF | — | — | — | — | — | — | — | — | 205.30 | — | 42.90 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -5.9% | -5.9% | 11.8% | 44.0% | 47.4% | 55.8% | 17.8% | 31.3% | 49.1% | 48.2% | 63.2% |
| Operating Margin | 4.5% | 4.5% | 22.4% | 9.3% | 8.7% | 10.8% | -27.6% | 93.0% | 16.1% | 21.7% | 20.4% |
| Net Profit Margin | -6.3% | -6.3% | -16.1% | 4.5% | -0.7% | -33.7% | -48.0% | 63.5% | 5.8% | -44.8% | -1.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.4% | -1.4% | -5.1% | 2.1% | -0.4% | -12.7% | -4.0% | 13.1% | 1.4% | -7.6% | -0.2% |
| ROA | -0.3% | -0.3% | -1.0% | 0.4% | -0.1% | -3.0% | -1.2% | 4.6% | 0.5% | -3.5% | -0.1% |
| ROIC | 0.2% | 0.2% | 1.2% | 0.7% | 0.8% | 0.9% | -0.7% | 6.6% | 1.4% | 1.6% | 1.5% |
| ROCE | 0.2% | 0.2% | 1.6% | 0.9% | 1.1% | 1.3% | -0.8% | 7.6% | 1.5% | 1.8% | 1.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.85 | 3.85 | 4.03 | 3.57 | 4.90 | 3.32 | 2.39 | 1.68 | 1.53 | 1.38 | 0.66 |
| Debt / EBITDA | 35.44 | 35.44 | 20.83 | 21.25 | 19.71 | 20.01 | 945.20 | 7.49 | 13.46 | 14.32 | 8.24 |
| Net Debt / Equity | — | 3.32 | 3.71 | 3.16 | 4.34 | 2.95 | 1.85 | 1.26 | 1.05 | 1.07 | 0.40 |
| Net Debt / EBITDA | 30.53 | 30.53 | 19.18 | 18.82 | 17.46 | 17.82 | 732.11 | 5.64 | 9.23 | 11.11 | 4.92 |
| Debt / FCF | — | — | — | — | — | — | — | — | 101.32 | — | 12.46 |
| Interest Coverage | 0.48 | 0.48 | 0.30 | 1.08 | 1.03 | 0.48 | -0.41 | 2.17 | -0.08 | 0.37 | 0.29 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.25 | 1.25 | 0.73 | 1.06 | 0.71 | 0.41 | 2.06 | 2.21 | 2.80 | 3.77 | 3.12 |
| Quick Ratio | 1.25 | 1.25 | 0.71 | 1.05 | 0.70 | 0.41 | 2.05 | 2.20 | 2.80 | 3.59 | 3.12 |
| Cash Ratio | 0.97 | 0.97 | 0.47 | 0.59 | 0.54 | 0.35 | 1.80 | 1.45 | 1.97 | 2.43 | 2.22 |
| Asset Turnover | — | 0.04 | 0.06 | 0.08 | 0.09 | 0.08 | 0.02 | 0.06 | 0.09 | 0.07 | 0.08 |
| Inventory Turnover | — | — | 39.26 | 23.36 | 22.86 | 50.94 | 25.90 | 45.96 | — | 3.51 | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | 2.6% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 1.1% | — | — | — | 5.9% | 1.3% | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | 1.0% | — | 3.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% |
| Shares Outstanding | — | $13M | $13M | $13M | $13M | $13M | $12M | $11M | $11M | $11M | $10M |
Geopolitical and construction liquidity
With a TTM P/E of -95.53 and no forward earnings visibility, Ellomay's valuation appears disconnected from traditional utility metrics, as reported in recent financial data, suggesting the market is pricing the company as a distressed holding entity rather than a stable, dividend-paying renewable utility provider.
The absence of a dividend yield and the negative P/E ratio indicate that investors are currently unable to treat the stock as a bond proxy, which is typical for the sector. The valuation appears to be driven entirely by the speculative potential of the Manara Cliff project rather than current cash-generative capacity.
Based on reported figures, the debt-to-capital ratio has remained persistently elevated near 0.80, indicating that Ellomay's capital structure is heavily reliant on external leverage to fund its infrastructure build-out, which may leave the company vulnerable to interest rate volatility and restrictive debt covenants.
The consistent reliance on debt to finance capital-intensive projects, combined with negative interest coverage ratios in several recent quarters, suggests that the company's financial flexibility is severely constrained. Investors should monitor whether the current leverage levels will necessitate dilutive equity raises to maintain project solvency.
According to quarterly income statements, the company's operating margin has frequently dipped into negative territory, reaching -31.1% in 2026Q1, which implies that current energy production is insufficient to cover the high fixed costs associated with asset depreciation and project-level debt service obligations.
The inability to maintain positive operating margins suggests that the company's portfolio is not yet achieving the necessary scale to absorb its fixed cost base. This trend warrants further investigation into whether the merchant price exposure in Spain is structurally undermining the company's ability to achieve profitability.
As noted in financial analysis, the P/E ratio is the most commonly misapplied metric for Ellomay, as it obscures the company's true economic reality by ignoring the significant non-cash depreciation and equity-accounted earnings from the Dorad plant that distort bottom-line profitability figures.
Using P/E to evaluate Ellomay is fundamentally flawed because it fails to account for the capital-intensive nature of pumped storage and renewable development. Analysts should instead focus on EV/EBITDA or project-level cash flow metrics to better understand the company's ability to service its debt and fund future growth.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ELLO stock.
Ellomay Capital Ltd.'s current P/E ratio is -96.3x. The historical average is 27.4x.
Ellomay Capital Ltd.'s current EV/EBITDA is 43.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 26.0x.
Ellomay Capital Ltd.'s return on equity (ROE) is -1.4%. The historical average is 1.8%.
Based on historical data, Ellomay Capital Ltd. is trading at a P/E of -96.3x. Compare with industry peers and growth rates for a complete picture.
Ellomay Capital Ltd. has -5.9% gross margin and 4.5% operating margin.
Ellomay Capital Ltd.'s Debt/EBITDA ratio is 35.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.