ELLOEllomay Capital Ltd.
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (1.1×).
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Margins have held roughly steady, a stable cost structure.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ELLO?
Ellomay Capital Ltd. earns 6.5% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 2.5 points below what the capital costs: growth destroys value
- Operating margin
- 22%
Operating margin · Utilities median 21% · fiscal year to FY2024
- Cash conversion
- 1.11×
Cash conversion · 2.40× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −0.03%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2019 | 93% |
| FY2020 | −28% |
| FY2021 | 11% |
| FY2022 | 8.7% |
| FY2023 | 9.3% |
| FY2024 | 22% |
Details›
- Gross marginfiscal year to FY2024
- 12%
- Operating marginfiscal year to FY2024
- 22%
- Net marginfiscal year to FY2024
- −22%
- Free cash flow margin
- −161%
- Revenue, trailing twelve months
- $40M
- Free cash flow, trailing twelve months
- −$65M
- Net income, trailing twelve months
- −$9.0M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 6.5%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.