Ascopiave S.p.A. (ASC) AI Stock Analysis

4 Followers

Ascopiave S.p.A.

(Milan:ASC)

Select Model

Rating:74Outperform

Price Target:EUR 3.50▲(21.95% Upside)

Action:reiterated

Date:11/01/26

The score is driven primarily by solid financial performance (strong revenue/profitability and a generally sound balance sheet), supported by constructive technical momentum and an attractive income profile from the very high dividend yield. Offsetting factors are cash-flow and earnings variability and a recent upward trend in leverage, plus the price still being below the 200-day average.

Positive Factors

Revenue and ProfitabilityStrong and accelerating revenue provides a durable base for the utility’s regulated distribution and energy-marketing activities. Persistently positive earnings and high recent margins indicate meaningful operating profitability, supporting reinvestment and resilience over the coming quarters.

Negative Factors

Rising LeverageThe upward debt-to-equity trend reduces financial flexibility compared with earlier years, even though overall capitalization remains solid. Higher leverage can increase the portion of future cash flow committed to debt obligations and may constrain investment or distributions if operating conditions weaken.

Ascopiave S.p.A. (ASC) vs. iShares MSCI Italy ETF (EWI)

Market Cap: EUR 622.26M
Dividend Yield: 11.15%
Average Volume (3M): 145.82K
Price to Earnings (P/E): 17.2
Beta (1Y): 0.13
Revenue Growth: 17.24%
EPS Growth: -56.49%
Country: Italy
Employees: 750
Sector: General
Sector Strength: 55
Industry: Regulated Gas

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 various m...

How the Company Makes Money

Ascopiave makes money mainly through two business models: (1) regulated natural gas distribution and (2) gas sales/energy marketing. 1) Regulated gas distribution (network operator) - Revenue is earned by operating local natural gas distribution netw...

Ascopiave S.p.A. Financial Statement Overview

Summary

Financial statements indicate a healthy but not flawless profile: strong revenue momentum and generally strong profitability (Income Statement score 78), a reasonably solid balance sheet with rising leverage as the key risk (Balance Sheet score 71), and improved but still volatile cash generation (Cash Flow score 62). Overall strength is tempered by earnings/margin variability and cash-flow consistency.

Income Statement

78Positive

Balance Sheet

71Positive

Cash Flow

62Positive

Financial statement breakdown
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	22.18M	35.56M	35.00M	53.83M	77.74M	43.45M
Total Debt	675.06M	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

Technical Analysis SentimentNegative

Last Price2.87

Price Trends

50DMA2.79Positive

100DMA2.84Positive

200DMA3.04Negative

Market Momentum

MACD0.03Positive

RSI50.28Neutral

STOCH20.14Neutral

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 2.87 is below the 20-day moving average (MA) of 2.91, above the 50-day MA of 2.79, and below the 200-day MA of 3.04, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of 20.14 is Neutral, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IT:ASC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IT:IG	78Outperform	EUR 9.32B	10.99	23.44%	4.74%	―	―
IT:ACE	74Outperform	EUR 4.57B	6.40	24.94%	4.42%	-20.70%	83.10%
IT:ASC	74Outperform	EUR 622.26M	17.16	4.01%	11.15%	17.24%	-56.49%
IT:A2A	71Outperform	EUR 7.45B	10.63	11.50%	4.51%	26.14%	-11.77%
IT:SRG	64Neutral	EUR 20.67B	18.14	13.10%	3.40%	8.61%	-17.99%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IT:ARN	53Neutral	EUR 963.62M	10.38	23.01%	3.36%	12.56%	12.78%

* General Sector Average

Performance Comparison

IT:ASC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IT:ASC	Ascopiave S.p.A.	2.87	-0.29	-9.12%
IT:A2A	A2A SpA	2.31	-0.03	-1.20%
IT:ACE	ACEA SPA	21.24	1.17	5.81%
IT:ARN	Alerion CleanPower	18.16	-0.34	-1.83%
IT:SRG	SNAM S.p.A.	6.17	0.79	14.60%
IT:IG	Italgas	9.12	0.20	2.28%

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 01, 2026

Ascopiave S.p.A. AI Stock Analysis