Ellomay (ELLO) AI Stock Analysis

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Ellomay

(TASE:ELLO)

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Rating:46Neutral

Price Target:ILA 5,451.00▼(-5.12% Downside)

Action:reiterated

Date:11/06/26

The score is held down primarily by weak financial performance (high leverage, negative operating profitability, and persistently negative free cash flow) and bearish technicals (price below key moving averages with negative MACD and very low RSI). A low P/E provides some valuation support but is not enough to offset the balance-sheet and cash-flow risks.

Positive Factors

Renewable asset ownershipEllomay’s focus on owning and operating renewable generation assets provides exposure to a structurally expanding power segment. Utility-scale solar facilities can support recurring electricity sales over multiple years, giving the business an asset-based platform rather than relying solely on project development fees.

Negative Factors

High leverageVery high leverage increases Ellomay’s exposure to refinancing needs and interest-rate sensitivity, while limiting financial flexibility during periods of weaker operating performance. A heavily debt-funded asset base can also constrain future investment and leave less capacity to absorb earnings volatility.

Ellomay (ELLO) vs. iShares MSCI Israel ETF (EIS)

Market Cap: ILS 805.08M
Dividend Yield: ―
Average Volume (3M): 6,615
Price to Earnings (P/E): 3.7
Beta (1Y): 0.86
Revenue Growth: -1.19%
EPS Growth: ―
Country: Israel
Employees: 29
Sector: General
Sector Strength: 55
Industry: Renewable Utilities

Ellomay Business Overview & Revenue Model

Company Description

Ellomay Capital Ltd. is an energy company operating across Israel, Spain, and the Netherlands, dedicated to producing renewable and clean power. Its assets include six operational photovoltaic (PV) plants: four located in Spain with a cumulative capa...

Ellomay Financial Statement Overview

Summary

Despite a sharp TTM revenue rebound, the fundamentals are weak: operating profitability is negative (EBIT margin ~-10%), leverage is very high (debt-to-equity roughly ~3.3x to ~5.1x), and cash generation is strained with negative operating cash flow and deeply negative free cash flow. Reported net income appears distorted by non-recurring/below-the-line items and does not translate into cash.

Income Statement

46Neutral

Balance Sheet

28Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Dec 2023	Dec 2022	Mar 2022
Income Statement
Total Revenue	43.92M	33.89M	40.47M	48.83M	52.24M	44.78M
Gross Profit	6.65M	7.21M	4.78M	21.51M	24.79M	12.18M
EBITDA	12.74M	24.76M	20.43M	29.50M	26.98M	19.82M
Net Income	59.87M	-2.13M	-6.52M	2.22M	-357.00K	-15.09M
Balance Sheet
Total Assets	952.06M	845.45M	677.26M	612.85M	576.16M	551.15M
Cash, Cash Equivalents and Short-Term Investments	166.14M	88.26M	41.13M	52.12M	49.29M	71.58M
Total Debt	659.35M	637.86M	521.06M	446.40M	407.04M	376.32M
Total Liabilities	721.47M	679.97M	547.97M	487.75M	493.08M	437.66M
Stockholders Equity	208.80M	140.93M	118.62M	115.00M	95.72M	115.52M
Cash Flow
Free Cash Flow	-135.46M	-93.52M	-67.47M	-52.53M	-37.29M	-67.57M
Operating Cash Flow	-4.29M	8.21M	7.97M	8.60M	11.32M	15.24M
Investing Cash Flow	-6.53M	-47.65M	-64.44M	-55.55M	-24.38M	-107.42M
Financing Cash Flow	55.36M	82.61M	42.96M	54.43M	26.51M	54.20M

Ellomay Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IL:ELLO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IL:ECNR	55Neutral	ILS 4.36B	-19.81	―	―	2.40%	-570.07%
IL:ENLT	53Neutral	ILS 31.63B	98.83	2.17%	―	19.91%	-40.91%
IL:ELLO	46Neutral	ILS 794.05M	3.71	-1.46%	―	-1.19%	―
IL:DORL	45Neutral	ILS 13.14B	-46.99	―	―	53.62%	-34.45%
IL:MSKE	42Neutral	ILS 6.43B	-50.85	―	―	―	―
IL:ENRG	38Underperform	ILS 11.61B	77.80	―	2.05%	18.55%	-36.00%

* General Sector Average

Performance Comparison

IL:ELLO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IL:ELLO	Ellomay Capital Ltd Ordinary Sh	5745.00	-970.00	-14.45%
IL:ENLT	Enlight Renewable Energy Ltd	21560.00	9190.00	74.29%
IL:ENRG	Energix-Renewable Energies Ltd.	1949.00	580.37	42.40%
IL:DORL	DORAL GROUP RENEWABLE ENERGY RESOURCES LTD	5724.00	3118.00	119.65%
IL:MSKE	Meshek Energy Renewable Energies Ltd.	903.50	263.20	41.11%
IL:ECNR	Econergy renewable energy Ltd	5857.00	1773.00	43.41%

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.

Date of analysis: Nov 06, 2026

Ellomay AI Stock Analysis