Elia Group SA/NV (ELI.BR) stock analysis

In our weekly check, Elia Group SA/NV is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 4, red flags: 5.

About Elia Group SA/NV

Elia Group SA/NV is an Utilities company (Regulated Electric) based in Belgium, listed on BRU as ELI.BR.

What our checks show for ELI.BR

Red flags

• Net debt is 6.1x a year of EBITDA (debt/equity 2.06). That limits room in a downturn and raises refinancing risk.
• Free cash flow is negative (-57.7% of revenue): the business spends more cash than it brings in.
• The stock has fallen as much as 62% from a peak. Would you have held through that?
• The share count grew by 36.2% in 2 years: each shareholder owns a smaller slice.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Analysts expect the net margin to shrink by 1.5 points from today's 13.2%.
• The stock is still below its previous peak.
• Thinly traded (about 102 thousand shares a day): buying and selling can move the price.
• Return on capital (ROCE) is only 6.4%.

Strengths

• The net margin rose by 1.6 points over 5 years, to 13.2%.
• The gross margin is 29.9% and has risen by 17.9 points: pricing power is holding.
• Operating cash flow is 3.63x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 15.1% a year over the next years.
• Analysts expect revenue to grow about 21.3% a year over the next years.
• Net profit grew 17.5% a year over the last 3 years.

Similar companies

PPC.AT · PNW · EMA · LNT · OGE · TRN.MI

Questions

What grade does Elia Group SA/NV (ELI.BR) have?

In our weekly check, Elia Group SA/NV is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 4, red flags: 5. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of ELI.BR stock?

This week's biggest flags for Elia Group SA/NV: High debt, Weak free cash flow, Deep past fall. In total 9 of 25 checks show a warning or a red flag.

What does Elia Group SA/NV do?

Elia Group SA/NV is an Utilities company (Regulated Electric) based in Belgium, listed on BRU as ELI.BR.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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