undamentalytics Newsletter
Sign in

Ellomay Capital Ltd. (ELLO) stock

Add to watchlist

Add holding +

NYSE: ELLO NYSE Renewable Electricity

B Fundamentals grade

Ellomay Capital Ltd. is a US-listed company in the renewable electricity industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$12

Book value (net assets)

Base case. Range ~$12–$12. Net assets per share: the value if returns just equal the cost of equity.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Ellomay Capital Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds4 adding, 2 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ellomay Capital files

Where Ellomay Capital stands after its latest Filing

Revenue for the twelve months was $48m, up 10.6% on a year earlier, against a decline of 17.1% a quarter earlier. Free-cash-flow margin fell to -222.7% from -142.2% a year earlier. Operating margin widened to 43.1% from 10.8%. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 5 of our 7 financial-health checks. Our book value value is $11.97 a share, against a share price of $20.40.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Ellomay Capital Ltd.'s trailing-twelve-month revenue grew 10.6% year on year, with a free-cash-flow margin of -222.7%. Where it stands out: stock pay as % of revenue of 0.0% ranks 1 of 9 renewable electricity companies we cover. Where it lags: gross margin of 16.2% ranks 6 of 7 renewable electricity companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 65.8% while operating cash flow fell 68.1% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 27.7 points higher than a quarter earlier.
  • High operating margin. 43.1% of revenue is left as operating profit, against a median of 13.4% for renewable electricity companies we cover.
  • Margins widening. Operating margin is up 20.6 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Burning cash. Free cash flow was -222.7% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 3.0% in a year.
  • Below peers: gross margin. Gross margin of 16.2% ranks 6 of 7 renewable electricity companies we cover (median 29.0%).

Price chart

  • 1 day+1.0%
  • 1 week-3.7%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$48.4M
Operating margin
43.1%
Net margin
-5.0%
EPS (TTM, diluted)
$-0.18

Growth

Revenue growth
+10.6%
Change in growth rate
+27.7 pts
Share count change
+3.0%

Cash

Free cash flow (TTM)
-$108M
FCF margin
-222.7%
Stock pay % of revenue
0.0%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for ELLO from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ellomay Capital Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Ellomay Capital Ltd. as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.48 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. — Does not apply: net income is not positive
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: no current dividend figure in the company's tagged filings
Book value (net assets) Net assets per share: the value if returns just equal the cost of equity. ~$12 Primary model, counts double
Combined value Weighted average of the models that apply: the primary model (book value (net assets)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ellomay Capital Ltd. with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Ellomay Capital Ltd.: too few analysts cover it.

Positioning

Short interest
0.1%
of tradable shares
Days to cover
1.87
at average volume
Short interest, 1 month
+59%
to October 15, 2026
Held by institutions
19%
of shares
Held by insiders
75.1%
of shares
Employees
29
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Ellomay Capital Ltd. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ellomay Capital Ltd.
$0 $20M $40M $60M FY15 Q4 FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue (TTM), FY15 Q4: $13.8M Revenue (TTM), FY16 Q4: $12.9M Revenue (TTM), FY17 Q4: $15.4M Revenue (TTM), FY18 Q4: $21.4M Revenue (TTM), FY19 Q4: $21.3M Revenue (TTM), FY20 Q4: $11M Revenue (TTM), FY21 Q4: $52.9M Revenue (TTM), FY22 Q4: $55M Revenue (TTM), FY23 Q4: $52.8M Revenue (TTM), FY24 Q4: $43.8M Revenue (TTM), FY25 Q4: $48.4M $48.4M

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY15 Q4 $13.8M
FY16 Q4 $12.9M
FY17 Q4 $15.4M
FY18 Q4 $21.4M
FY19 Q4 $21.3M
FY20 Q4 $11M
FY21 Q4 $52.9M
FY22 Q4 $55M
FY23 Q4 $52.8M
FY24 Q4 $43.8M
FY25 Q4 $48.4M
Revenue growth, TTM YoY Ellomay Capital Ltd.
-200% 0% 200% 400% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue growth, TTM YoY, FY16 Q4: -6.7% Revenue growth, TTM YoY, FY17 Q4: 19.6% Revenue growth, TTM YoY, FY18 Q4: 38.9% Revenue growth, TTM YoY, FY19 Q4: -0.7% Revenue growth, TTM YoY, FY20 Q4: -48.2% Revenue growth, TTM YoY, FY21 Q4: 380.6% Revenue growth, TTM YoY, FY22 Q4: 4.1% Revenue growth, TTM YoY, FY23 Q4: -4.0% Revenue growth, TTM YoY, FY24 Q4: -17.1% Revenue growth, TTM YoY, FY25 Q4: 10.6% 10.6%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY16 Q4 -6.7%
FY17 Q4 19.6%
FY18 Q4 38.9%
FY19 Q4 -0.7%
FY20 Q4 -48.2%
FY21 Q4 380.6%
FY22 Q4 4.1%
FY23 Q4 -4.0%
FY24 Q4 -17.1%
FY25 Q4 10.6%
Operating margin (TTM) Ellomay Capital Ltd.
-50% 0% 50% 100% FY15 Q4 FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Operating margin (TTM), FY15 Q4: 34.5% Operating margin (TTM), FY16 Q4: 20.4% Operating margin (TTM), FY17 Q4: 21.7% Operating margin (TTM), FY18 Q4: 16.1% Operating margin (TTM), FY19 Q4: 93.0% Operating margin (TTM), FY20 Q4: -27.6% Operating margin (TTM), FY21 Q4: 10.8% Operating margin (TTM), FY22 Q4: 8.7% Operating margin (TTM), FY23 Q4: 9.3% Operating margin (TTM), FY24 Q4: 22.4% Operating margin (TTM), FY25 Q4: 43.1% 43.1%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY15 Q4 34.5%
FY16 Q4 20.4%
FY17 Q4 21.7%
FY18 Q4 16.1%
FY19 Q4 93.0%
FY20 Q4 -27.6%
FY21 Q4 10.8%
FY22 Q4 8.7%
FY23 Q4 9.3%
FY24 Q4 22.4%
FY25 Q4 43.1%
FCF margin (TTM) Ellomay Capital Ltd.
-1500% -1000% -500% 0% 500% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY16 Q4: 18.9% FCF margin (TTM), FY17 Q4: -38.7% FCF margin (TTM), FY18 Q4: 15.9% FCF margin (TTM), FY19 Q4: -373.3% FCF margin (TTM), FY20 Q4: -1391.9% FCF margin (TTM), FY21 Q4: -142.2% FCF margin (TTM), FY22 Q4: -67.6% FCF margin (TTM), FY23 Q4: -102.9% FCF margin (TTM), FY24 Q4: -160.5% FCF margin (TTM), FY25 Q4: -222.7% -222.7%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY16 Q4 18.9%
FY17 Q4 -38.7%
FY18 Q4 15.9%
FY19 Q4 -373.3%
FY20 Q4 -1391.9%
FY21 Q4 -142.2%
FY22 Q4 -67.6%
FY23 Q4 -102.9%
FY24 Q4 -160.5%
FY25 Q4 -222.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 14 13 15 21 21 11 53 55 53 44 48
Gross profit 6 6 7 7 7 2 15 14 11 5 8
EBITDA 10 8 8 10 27 0 23 21 22 27 39
Operating income 5 3 3 3 20 −3 6 5 5 10 21
Net income 9 −1 −8 1 11 −7 −18 −0 2 −7 −2
Diluted EPS $0.87 −$0.02 −$0.64 $0.12 $1.22 −$0.43 −$1.40 −$0.03 $0.18 −$0.55 −$0.18
Growth (year on year)
Revenue — −6.7% +19.6% +38.9% −0.7% −48.2% +380.6% +4.1% −4.0% −17.1% +10.6%
EBITDA — −22.4% +12.5% +22.0% +161.3% −98.7% +>999% −7.9% +4.8% +21.6% +46.2%
Operating income — −44.9% +27.4% +2.8% +474.6% −115.4% — −15.9% +2.1% +100.5% +112.2%
Net income — −107.8% — — +>999% −164.3% — — — −394.1% —
Diluted EPS — −102.6% — — +932.6% −135.5% — — — −400.1% —
Margins
Gross margin 43.8% 44.2% 48.2% 32.9% 31.3% 17.8% 28.7% 24.9% 20.4% 11.8% 16.2%
EBITDA margin 70.1% 58.3% 54.8% 48.2% 126.7% 3.3% 43.5% 38.5% 42.1% 61.7% 81.6%
Operating margin 34.5% 20.4% 21.7% 16.1% 93.0% −27.6% 10.8% 8.7% 9.3% 22.4% 43.1%
Net margin 65.2% −5.4% −48.7% 3.3% 51.5% −64.0% −33.8% −0.7% 4.5% −16.1% −5.0%
Free-cash-flow margin — 18.9% −38.7% 15.9% −373.3% <−999% −142.2% −67.6% −102.9% −160.5% −222.7%
Cash flow
Cash from operations 5 8 3 8 4 −7 19 12 9 9 3
Capital spending — 6 9 4 83 147 94 49 64 79 111
Free cash flow — 2 −6 3 −79 −153 −75 −37 −54 −70 −108
Stock-based pay 0 0 0 0 0 0 0 0 0 0 0
Free cash flow after stock pay — 2 −6 3 −79 −153 −75 −37 −54 −70 −108
Balance sheet
Cash 19 24 29 42 50 82 47 50 57 43 103
Total debt 14 20 58 82 105 247 266 293 22 34 53
Net debt (negative = net cash) −5 −4 29 40 55 166 220 243 −35 −8 −50
Diluted shares 11m 11m 11m 11m 11m 12m 13m 13m 13m 13m 13m
Returned to shareholders
Dividends — 2 — — — — — — — — —
Buybacks 1 0 0 — — — — — — — —
Total returned 1 2 0 — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · December 31, 2025
What it owns · $990m
Short-term assets $134mLonger-term assets $856m
What it owes, and who funded it · $961m
Short-term liabilities $108mLonger-term liabilities $688mShareholders' equity $165m
  • Short-term assets cover short-term liabilities $134m of assets due within a year against $108m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $134m short-term assets against $688m of longer-dated liabilities.
  • More cash than debt $103m of cash against $29m of debt.
  • Debt below 40% of shareholders' equity Debt is 17% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 148% to 17% over five years.
  • A year's operating cash flow covers at least 20% of debt $3m of operating cash flow against $29m of debt.
  • Operating profit covers interest at least five times over Operating income of $21m against $518,955 of interest.

From Ellomay Capital Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+3.0%
year over year
R&D spending
6.2%
of revenue
Days sales outstanding
64 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in renewable electricity
Last 12 months unless stated ELLO SUNE SPRU HTOO MNTK ENLT Median
Revenue, last 12 months $48m $62m $109m $16m $189m $489m $149m
Revenue growth, last 12 months 10.6% 10.3% 10.0% 838.5% 4.3% 29.3% 10.5%
Revenue growth, 3-year average — −1.8% 24.4% — 2.1% — 7.8%
Revenue growth, latest quarter — −37.5% −8.7% — 19.7% — 15.1%
Gross margin 16.2% 35.7% 48.3% 29.0% 29.5% 72.5% 29.5%
Operating margin 43.1% −7.9% 22.4% −60.9% 0.6% 68.0% 12.0%
Operating margin, 3-year average 25.2% −14.3% −21.5% — 7.2% — 7.2%
Net margin −5.0% −8.5% −6.8% −39.7% 4.2% 27.0% −0.4%
Cash from operations / revenue 5.7% −2.9% 1.9% −57.1% 23.0% 57.8% 14.3%
Free-cash-flow margin −222.7% −2.9% 1.8% −57.1% −44.1% −313.1% −33.2%
Free-cash-flow margin, 3-year average −134.5% −6.2% −26.4% — −22.9% — −22.9%
Stock pay / revenue 0.0% 0.1% 3.3% 10.8% 1.0% 2.1% 1.8%
Change in share count 3.0% 54.8% 6.5% 153.0% 0.5% 7.5% 6.5%

Median of all 10 companies we cover in renewable electricity. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 renewable electricity companies
Measure Company Peer median Rank
Revenue growth Growth 10.6% 10.6% 5 of 10
Change in growth rate Growth +27.7pp +4.3pp 2 of 10
Gross margin Profitability 16.2% 29.0% 6 of 7
Operating margin Profitability 43.1% 13.4% 2 of 10
Net margin Profitability -5.0% 4.2% 6 of 10
Free-cash-flow margin Cash generation -222.7% -22.3% 8 of 10
Stock pay as % of revenue Cash generation 0.0% 1.8% 1 of 9
Long-term debt as % of assets Balance sheet 0.4% 25.6% 2 of 9
Change in share count Balance sheet 3.0% 6.5% 3 of 6
Days sales outstanding Balance sheet 64 days 64 days 4 of 6

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$55.5M
Institutions reporting
10
Shares held vs prior quarter
▲ 0.2%
Positions opened / closed
3 / 0

Top buyers and sellers, Q2 2026: 4 institutions bought and 2 sold ; the biggest buyer was Y.D. More Investments Ltd (+3,651 shares) and the biggest seller Yelin Lapidot Holdings Management Ltd (−3,478). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Clal Insurance Enterprises Holdings Ltd $29.2M 1.6M 52.6% 0.0%
Menora Mivtachim Holdings Ltd. $16.7M 945K 30.0% 0.0%
Phoenix Financial Ltd. $5.9M 318K 10.6% 0.0%
Yelin Lapidot Holdings Management Ltd. $3.5M 190K 6.3% ▼ 1.8%
Jpmorgan Chase & Co $119,192 6K 0.2% ▲ 104.1%
Y.D. More Investments Ltd $69,219 4K 0.1% New
Edmond De Rothschild Holding S.A. $32,494 2K 0.1% 0.0%
UBS Group AG $24,012 1K 0.0% New
Morgan Stanley $18,400 1K 0.0% ▼ 16.7%
Citigroup Inc $1,685 0K 0.0% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ellomay Capital Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Data status

When each part of this page on Ellomay Capital Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ellomay Capital Ltd. in brief

What does Ellomay Capital Ltd. do?
Ellomay Capital Ltd. is a US-listed company in the renewable electricity industry. Its financial year ends in December.
What is Ellomay Capital Ltd.'s stock ticker?
Ellomay Capital Ltd. trades under the ticker ELLO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ellomay Capital Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ellomay Capital Ltd. reported revenue of $48.4M, 10.6% higher than a year earlier, according to its SEC filings.
What is Ellomay Capital Ltd.'s free cash flow?
Ellomay Capital Ltd.'s free-cash-flow margin is -222.7% of revenue over the trailing twelve months, ranking 8 of the 10 renewable electricity companies we cover.
Who are Ellomay Capital Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Clal Insurance Enterprises Holdings Ltd, Menora Mivtachim Holdings Ltd. and Phoenix Financial Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Ellomay Capital Ltd. have?
Ellomay Capital Ltd.'s debt-to-equity ratio is 17.5%, from its latest balance sheet (148.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Ellomay Capital Ltd.'s competitors?
In our Renewable Electricity peer group, the companies closest to Ellomay Capital Ltd. are Sunation Energy, Inc., Spruce Power Holding Corp, Fusion Fuel Green PLC, Montauk Renewables, Inc. and Enlight Renewable Energy Ltd. The side-by-side comparison below sets their revenue, margins and growth against Ellomay Capital Ltd.'s.