Ellomay Capital Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Ellomay Capital Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2021	FY2022	FY2023	FY2024
Revenue	50.7	56.9	54	42.1
Gross profit	13.8	14.1	11	4.97
Selling, general and administrative	6.41	6.28	5.84	6.31
Operating income	4.67	5.02	5.01	9.46
Interest expense	32.8	13.5	13.9	24.2
Interest income	3.32	10.2	9.68	2.6
Pre-tax income	-25.8	2.39	1.08	-11
Income tax	-2.82	2.24	-1.59	-1.48
Income from continuing operations			2.67	-9.52
Net income to minority interests	-5.5	0.53	-1.76	-2.58
Net income	-22.9	0.15	0.69	-6.79
EBITDA	21.7	22.2	22.7	26
EPS, basic	-1.39	-0.03	0.19	-0.53
EPS, diluted	-1.39	-0.03	0.19	-0.53

Balance sheet

	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	44	51.4	53.2	42.8
Receivables	10.7	13.5	13.3	5.61
Total current assets	94.9	69	104	65.4
Property, plant and equipment	385	390	451	503
Lease right-of-use assets	26.4	32	34.3
Intangible assets	5.39	4.37		35.7
Total assets	624	614	678	705
Short-term debt			10.8	22.2
Total current liabilities	232	97.2	98	90.2
Lease liabilities	17.9	23.5	26.2	26.4
Total liabilities	495	526	539	570
Paid-in capital	97.2	91.8	95.3	89.8
Retained earnings	-8.17	-7.74	-5.57	-12
Shareholders' equity	131	102	127	123
Minority interests	-2.31	-13.5	11.2	11.1
Total equity	122	91.9	130	135
Total liabilities and equity	624	614	678	705

Cash flow statement

	FY2021	FY2022	FY2023	FY2024
Net income	-22.9	0.15	0.69	-9.37
Depreciation and amortization	17.1	17.2	17.7	16.5
Cash from operations	17.2	12.1	9.52	8.3
Capital expenditures	-93.7	-51.8	-65.1	-75.9
Cash from investing	-122	-30.1	-61.4	-67.1
Stock issued	0	0
Cash from financing	61.3	28.3	60.2	44.7
Exchange rate effect	14	-4.71	-2.64	3.22
Net change in cash	-29	5.58	5.64	-10.8
Free cash flow	-76.5	-39.8	-55.6	-67.6
Interest paid	8.83	10.1	11.2	10.3
Income taxes paid				-0.65

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $21.98 on September 23, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.8%	Gross profit / revenue.
Operating margin	22.4%	Operating income / revenue.
EBITDA margin	61.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-26.1%	Pre-tax income / revenue.
Net margin	-16.1%	Net income / revenue.
FCF margin	-160.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	19.7%	Cash from operations / revenue.
Return on equity (ROE)	-5.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.0%	Net income / average total assets.
Return on invested capital (ROIC)	9.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	15.0%	Selling, general and administrative expense / revenue.
Capex / revenue	180.2%	Capital expenditures / revenue.
D&A / revenue	39.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-22.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-6.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	-54.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-28.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	88.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	26.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	14.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-1,080.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-378.9%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-12.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-21.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-2.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	4.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.73x	Current assets / current liabilities.
Quick ratio	0.54x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.47x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	80.9%	Total liabilities / total assets.
Interest coverage	0.39x	Operating income / interest expense.
Working capital	-$24.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	5.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$87.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.06x	Revenue / average total assets.
Fixed asset turnover	0.09x	Revenue / average property, plant and equipment.
Receivables turnover	4.46x	Revenue / average receivables.
Days sales outstanding	82 days	365 x average receivables / revenue.
Capex / operating cash flow	914.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.53	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.53	Net income per basic share, as reported (split-adjusted).

Valuation

Metric	Value	How it is calculated
Market cap	$303.0M	Share price x shares outstanding.
Enterprise value	$260.1M	Market cap + total debt - cash - short-term investments.
P/S	7.19x	Market cap / revenue.
P/B	2.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.45x	Market cap / tangible book value, when positive.
P/OCF	36.5x	Market cap / cash from operations, when positive.
EV/Sales	6.18x	Enterprise value / revenue.
EV/EBIT	27.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.0x	Enterprise value / EBITDA, when both are positive.
FCF yield	-22.3%	Free cash flow / market cap.
Earnings yield	-2.2%	Net income / market cap (the inverse of P/E).

What was Ellomay Capital Ltd.'s revenue in fiscal 2024?

Ellomay Capital Ltd. reported revenue of $42.1M for fiscal 2024, 22% lower than the year before.

Was Ellomay Capital Ltd. profitable in fiscal 2024?

No. It reported a net loss of $6.8M.

How much free cash flow did Ellomay Capital Ltd. generate in fiscal 2024?

Cash from operations of $8.3M minus capital expenditures of $75.9M left free cash flow of -$67.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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