Cash flow Edison S.p.A.

Equities

EDNR

IT0003372205

Multiline Utilities

Market Closed - Borsa Italiana Other stock markets 11:45:00 2026-02-16 am EST			5-day change	1st Jan Change
2.400 ^EUR	+1.27%		0.00%	-0.62%

Feb. 13	DIARY - Italy to March 31	RE
Feb. 13	Italy - Factors to watch on February 13	RE

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Published financial data: EDISON S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	8.17B	6.39B	11.74B	30.38B	18.44B
Total Revenues	8.17B	6.39B	11.74B	30.38B	18.44B
Operations And Maintenance	238M	223M	214M	238M	248M
Selling General & Admin Expenses, Total	323M	297M	397M	581M	735M
Depreciation & Amortization - (IS) - (Collected)	-	-	-	400M	-
Amortization of Goodwill and Intangible Assets - (IS)	341M	352M	356M	-	451M
Provision for Bad Debts	-	-	-	-	-
Other Operating Expenses	7.1B	5.27B	10.38B	28.61B	16.27B
Total Operating Expenses	8B	6.14B	11.34B	29.83B	17.7B
Operating Income (REIT / Utility Template)	167M	251M	394M	554M	735M
Interest Expense, Total	-27M	-24M	-18M	-37M	-54M
Interest and Investment Income	-	-	-	-	16M
Net Interest Expenses	-27M	-24M	-18M	-37M	-38M
Income (Loss) on Equity Invest.	6M	14M	26M	44M	53M
Currency Exchange Gains (Loss)	2M	-6M	17M	45M	-7M
Other Non Operating Income (Expenses)	-13M	7M	-3M	107M	-14M
EBT, Excl. Unusual Items	135M	242M	416M	713M	729M
Impairment of Goodwill	-22M	-5M	-	-2M	-5M
Gain (Loss) on Sale of Assets	0	2M	20M	-	9M
Asset Writedown	-11M	-30M	-2M	-54M	-4M
Insurance Settlements	7M	1M	4M	3M	5M
Legal Settlements	-3M	-	-	-	-
Other Unusual Items	34M	20M	50M	-32M	56M
EBT, Incl. Unusual Items	140M	230M	488M	628M	790M
Income Tax Expense	42M	39M	57M	452M	208M
Earnings From Continuing Operations	98M	191M	431M	176M	582M
Earnings Of Discontinued Operations	-562M	-158M	-1M	6M	14M
Net Income to Company	-464M	33M	430M	182M	596M
Minority Interest	-15M	-14M	-17M	-31M	-81M
Net Income - (IS)	-479M	19M	413M	151M	515M
Net Income to Common Incl Extra Items	-479M	19M	413M	151M	515M
Net Income to Common Excl. Extra Items	83M	177M	414M	145M	501M
Per Share Items
Net EPS - Basic	-0.09	0	0.09	-	0.11
Basic EPS - Continuing Operations	0.02	0.03	0.09	-	0.11
Basic Weighted Average Shares Outstanding	5.38B	5.38B	4.74B	-	4.74B
Net EPS - Diluted	-0.09	0	0.09	-	0.11
Diluted EPS - Continuing Operations	0.02	0.03	0.09	-	0.11
Diluted Weighted Average Shares Outstanding	5.38B	5.38B	4.74B	-	4.74B
Normalized Basic EPS	0.01	0.03	0.05	-	0.08
Normalized Diluted EPS	0.01	0.03	0.05	-	0.08
Dividend Per Share	-	-	0.28	0.05	-
Payout Ratio	-	-	-	189.4	-
Supplemental Items
Utility Revenues	-	6.06B	10.98B	28.41B	13.91B
Non Utility Revenues	-	445M	963M	2.12B	4.75B
EBITDA	481M	568M	710M	912M	1.13B
EBITA	217M	313M	461M	645M	847M
EBIT	167M	251M	394M	554M	735M
EBITDAR	555M	640M	796M	1.01B	1.27B
Total Revenues (As Reported)	8.27B	6.5B	11.94B	30.54B	18.65B
Effective Tax Rate - (Ratio)	30	16.96	11.68	71.97	26.33
Total Current Taxes	85M	-8M	122M	177M	376M
Total Deferred Taxes	-43M	61M	-108M	-19M	-142M
Normalized Net Income	69.38M	137M	243M	415M	375M
Interest on Long-Term Debt	4M	-	-	-	-
Non-Cash Pension Expense	-	2M	-	-	-
Supplemental Operating Expense Items
Advertising Expense	21M	13M	16M	19M	22M
Selling and Marketing Expenses	21M	13M	16M	19M	22M
Net Rental Expense, Total	74M	72M	86M	102M	143M
Imputed Operating Lease Interest Expense	20.92M	15.39M	13.36M	31.6M	63.36M
Imputed Operating Lease Depreciation	53.08M	56.61M	72.64M	70.4M	79.64M
Maintenance & Repair Expenses, Total	238M	223M	214M	238M	248M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	283M	313M	910M	456M	1.23B
Short Term Investments - (Utility / Insurance Templates)	347M	-	-	-	-
Trading Asset Securities, Total	-	-	-	-	-
Accounts Receivable, Total	1.13B	1.05B	3.54B	4.28B	2.56B
Other Receivables	26M	16M	6M	63M	36M
Accounts Receivable (Summary Subtotal)	1.16B	1.07B	3.55B	4.34B	2.6B
Inventory - (Utility Template)	133M	113M	176M	387M	174M
Notes Receivable (Collected)	-	-	-	-	-
Other Current Assets, Total	2.46B	1.34B	4.35B	4.24B	2.11B
Total Current Assets	4.38B	2.84B	8.98B	9.43B	6.11B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	3.31B	3.45B	3.74B	3.97B	3.81B
Goodwill	2.22B	2.17B	2.18B	2.23B	2.11B
Other Intangibles, Total	344M	265M	339M	340M	387M
Long-Term Investments - (Utility Template)	113M	123M	160M	216M	291M
Loans Receivable Long-Term - (Utility Template)	46M	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	216M	189M	329M	427M	401M
Other Long-Term Assets, Total	180M	345M	971M	726M	516M
Total Assets	10.81B	9.38B	16.71B	17.34B	13.63B
Liabilities
Accounts Payable, Total	1.42B	1.26B	2.87B	3.78B	2.25B
Accrued Expenses, Total	78M	45M	61M	-	-
Short-Term Borrowings	-	-	330M	126M	219M
Current Portion of Long-Term Debt	309M	185M	24M	35M	75M
Current Portion of Leases	33M	31M	34M	39M	51M
Current Income Taxes Payable	26M	8M	75M	392M	257M
Other Current Liabilities - (Bank / Utility Template)	1.81B	735M	4.52B	4.22B	1.74B
Total Current Liabilities	3.68B	2.26B	7.91B	8.59B	4.59B
Long-Term Debt	356M	403M	373M	475M	417M
Long-Term Leases	259M	220M	241M	234M	279M
Pension & Other Post Retirement Benefits	38M	37M	37M	34M	33M
Deferred Tax Liability Non-Current	95M	92M	44M	76M	85M
Other Non Current Liabilities, Total	869M	891M	1.75B	1.88B	1.33B
Total Liabilities	5.3B	3.9B	10.36B	11.29B	6.73B
Common Stock, Total	5.38B	5.38B	4.74B	4.74B	4.74B
Retained Earnings	-479M	19M	413M	151M	515M
Comprehensive Income and Other	429M	-47M	785M	772M	1.21B
Total Common Equity	5.33B	5.35B	5.93B	5.66B	6.46B
Minority Interest	186M	131M	419M	389M	435M
Total Equity	5.51B	5.48B	6.35B	6.05B	6.9B
Total Liabilities And Equity	10.81B	9.38B	16.71B	17.34B	13.63B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	5.38B	5.38B	4.74B	-	4.74B
ECS Total Common Shares Outstanding	5.38B	5.38B	-	-	4.74B
Book Value / Share	0.99	0.99	1.25	-	1.36
Tangible Book Value	2.76B	2.91B	3.41B	3.09B	3.97B
Tangible Book Value Per Share	0.51	0.54	0.72	-	0.84
Total Debt	957M	839M	1B	909M	1.04B
Net Debt	327M	526M	92M	453M	-193M
Debt Equivalent Oper. Leases	592M	576M	688M	816M	1.14B
Minority Interest, Total (Incl. Fin. Div)	186M	131M	419M	389M	435M
Equity Method Investments, Total	91M	123M	160M	216M	291M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	13M	20M	20M	43M	28M
Inventories - Finished Goods, Total	104M	77M	145M	331M	139M
Inventories - Others	16M	16M	11M	13M	7M
Land - (BS)	-	-	-	-	-
Machinery, Total	-	-	-	-	-
Full Time Employees	5.63K	4.69K	4.92K	5.82K	5.96K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	215M	191M	163M	171M	170M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-479M	19M	413M	151M	515M
Depreciation, Depletion & Amortization	291M	290M	289M	309M	339M
Amortization of Goodwill and Intangible Assets - (CF)	50M	62M	67M	91M	112M
Total Depreciation, Depletion & Amortization	341M	352M	356M	400M	451M
(Gain) Loss On Sale of Asset - (CF)	-	3M	-17M	5M	-6M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	33M	35M	2M	56M	9M
(Income) Loss On Equity Investments - (CF)	-6M	-14M	-26M	-44M	-46M
Change in Other Net Operating Assets (Collected)	434M	-258M	-763M	-13M	250M
Other Operating Activities	627M	243M	125M	188M	260M
Net Cash From Discontinued Operations	223M	98M	-	-	28M
Cash from Operations	1.17B	478M	90M	743M	1.46B
Capital Expenditure	-288M	-491M	-592M	-560M	-501M
Sale of Property, Plant, and Equipment	3M	3M	434M	14M	76M
Cash Acquisitions	-147M	-20M	-53M	-206M	-84M
Divestitures	-1M	-	-	-	-
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-17M	194M	582M	47M	-30M
Other Investing Activities, Total	-166M	-104M	-	-	-19M
Cash from Investing	-616M	-418M	371M	-705M	-558M
Long-Term Debt Issued, Total	40M	116M	235M	125M	59M
Total Debt Issued	40M	116M	235M	125M	59M
Long-Term Debt Repaid, Total	-349M	-99M	-156M	-268M	-43M
Total Debt Repaid	-349M	-99M	-156M	-268M	-43M
Common Dividends Paid	-	-	-	-286M	-
Common & Preferred Stock Dividends Paid	-	-	-	-286M	-
Other Financing Activities, Total	-53M	-29M	57M	-63M	-141M
Cash from Financing	-362M	-12M	136M	-492M	-125M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Miscellaneous Cash Flow Adjustments	-	-61M	-	-	-
Net Change in Cash	195M	-13M	597M	-454M	778M
Supplemental Items
Cash Income Tax Paid (Refund)	39M	35M	65M	279M	436M
Net Debt Issued / Repaid	-309M	17M	79M	-143M	16M
Levered Free Cash Flow	228M	278M	-50M	124M	326M
Unlevered Free Cash Flow	245M	293M	-38.75M	147M	359M
Change In Net Working Capital	-88M	-275M	49M	39M	50M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.98	1.55	1.89	2.03	2.97
Return on Total Capital	1.58	2.45	3.6	4.84	6.17
Return On Equity %	1.68	3.47	7.28	2.84	8.99
Return on Common Equity	1.48	3.32	7.34	2.5	8.27
Margin Analysis
Gross Profit Margin %	14.86	20.92	14.4	5.51	15.78
SG&A Margin	7.73	9.67	6.24	1.91	6.26
EBITDA Margin %	5.89	8.89	6.05	3	6.13
EBITA Margin %	2.66	4.9	3.93	2.12	4.59
EBIT Margin %	2.04	3.93	3.36	1.82	3.99
Income From Continuing Operations Margin %	1.2	2.99	3.67	0.58	3.16
Net Income Margin %	-5.86	0.3	3.52	0.5	2.79
Net Avail. For Common Margin %	1.02	2.77	3.53	0.48	2.72
Normalized Net Income Margin	0.85	2.15	2.07	1.36	2.03
Levered Free Cash Flow Margin	2.8	4.35	-0.43	0.41	1.77
Unlevered Free Cash Flow Margin	3	4.58	-0.33	0.48	1.95
Asset Turnover
Asset Turnover	0.76	0.63	0.9	1.78	1.19
Fixed Assets Turnover	2.35	1.89	3.26	7.88	4.74
Receivables Turnover (Average Receivables)	5.86	5.85	5.11	7.77	5.39
Inventory Turnover (Average Inventory)	39.07	41.08	69.54	101.98	55.35
Short Term Liquidity
Current Ratio	1.19	1.26	1.13	1.1	1.33
Quick Ratio	0.49	0.61	0.56	0.56	0.83
Operating Cash Flow to Current Liabilities	0.32	0.21	0.01	0.09	0.32
Days Sales Outstanding (Average Receivables)	62.25	62.58	71.44	46.99	67.73
Days Outstanding Inventory (Average Inventory)	9.34	8.91	5.25	3.58	6.59
Average Days Payable Outstanding	79.9	97.48	74.5	41.97	71.79
Cash Conversion Cycle (Average Days)	-8.31	-26	2.18	8.6	2.53
Long Term Solvency
Total Debt/Equity	17.36	15.31	15.77	15.03	15.1
Total Debt / Total Capital	14.79	13.28	13.62	13.07	13.12
LT Debt/Equity	11.16	11.37	9.66	11.72	10.09
Long-Term Debt / Total Capital	9.51	9.86	8.35	10.19	8.77
Total Liabilities / Total Assets	49	41.6	61.98	65.11	49.4
EBIT / Interest Expense	6.19	10.46	21.89	14.97	13.61
EBITDA / Interest Expense	18.81	25.12	41.67	25.78	21.96
(EBITDA - Capex) / Interest Expense	8.15	4.67	8.78	10.65	12.69
Total Debt / EBITDA	1.88	1.39	1.34	0.95	0.88
Net Debt / EBITDA	0.64	0.87	0.12	0.47	-0.16
Total Debt / (EBITDA - Capex)	4.35	7.49	6.34	2.31	1.52
Net Debt / (EBITDA - Capex)	1.49	4.7	0.58	1.15	-0.28
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-6.42	-22.05	83.71	158.8	-39.17
Gross Profit, 1 Yr. Growth %	14.2	7.91	26.4	23.54	47.04
EBITDA, 1 Yr. Growth %	33.61	12.48	17.74	29	18.7
EBITA, 1 Yr. Growth %	133.33	112.93	83.67	83.76	48.86
EBIT, 1 Yr. Growth %	79.57	70.75	56.97	57.83	29.17
Earnings From Cont. Operations, 1 Yr. Growth %	5.38	35.46	125.65	-59.16	280.39
Net Income, 1 Yr. Growth %	-987.04	-104.36	2.07K	-63.44	241.06
Diluted EPS Before Extra, 1 Yr. Growth %	-	40.47	165.56	-	-
Normalized Net Income, 1 Yr. Growth %	62.76	12.04	77.05	46.19	7.34
Net Property, Plant and Equip., 1 Yr. Growth %	-9.19	4.08	8.62	5.96	-3.93
Inventory, 1 Yr. Growth %	-40.36	-15.04	55.75	119.89	-55.04
Accounts Receivable, 1 Yr. Growth %	-31.56	-6.98	236.37	20.86	-40.18
Total Assets, 1 Yr. Growth %	2.12	-13.19	78.07	3.76	-21.39
Tangible Book Value, 1 Yr. Growth %	-3.59	5.32	17.22	-9.38	28.31
Cash From Operations, 1 Yr. Growth %	99.49	-59.25	-81.17	725.56	96.64
Capital Expenditures, 1 Yr. Growth %	3.97	30.59	20.57	-5.41	-7.73
Levered Free Cash Flow, 1 Yr. Growth %	-393.42	-235.05	-118.88	-261.46	143.91
Unlevered Free Cash Flow, 1 Yr. Growth %	-461.51	-258.2	-113.85	-324.38	129.45
Dividend Per Share, 1 Yr. Growth %	-	-	-	-81.75	-
Common Equity, 1 Yr. Growth %	-9.5	0.41	10.94	-4.63	14.15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-3.56	-14.44	19.66	118.04	25.32
Gross Profit, 2 Yr. CAGR %	-10.87	12.15	16.79	11.9	46.55
EBITDA, 2 Yr. CAGR %	5.52	25.61	18.57	22.98	26.42
EBITA, 2 Yr. CAGR %	308.56	83.46	77.09	60.3	55.34
EBIT, 2 Yr. CAGR %	75.86	64.28	63.72	48.57	44.71
Earnings From Cont. Operations, 2 Yr. CAGR %	-22.46	43.31	74.84	-4.01	16.2
Net Income, 2 Yr. CAGR %	64.97	-40.68	-2.67	181.91	11.67
Diluted EPS Before Extra, 2 Yr. CAGR %	-31.33	-	93.14	-	10.01
Normalized Net Income, 2 Yr. CAGR %	-6.44	79.44	40.84	73.81	14.93
Net Property, Plant and Equip., 2 Yr. CAGR %	-4.9	-2.78	6.32	7.28	0.89
Inventory, 2 Yr. CAGR %	-14.52	-28.82	15.04	85.06	-0.57
Accounts Receivable, 2 Yr. CAGR %	-17.32	-20.21	76.89	101.63	-14.97
Total Assets, 2 Yr. CAGR %	2.34	-5.85	24.33	35.93	-9.69
Common Equity, 2 Yr. CAGR %	-5.1	-4.67	5.54	2.86	4.34
Tangible Book Value, 2 Yr. CAGR %	-5.99	0.76	11.11	3.06	7.83
Cash From Operations, 2 Yr. CAGR %	10.48	-9.84	-72.3	24.68	302.91
Capital Expenditures, 2 Yr. CAGR %	-8.9	33.14	25.48	6.8	-8.01
Levered Free Cash Flow, 2 Yr. CAGR %	-5.78	88.9	-50.7	-31.54	105.81
Unlevered Free Cash Flow, 2 Yr. CAGR %	-4.54	107.72	-54.25	-27.47	134.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-9.54	-10.06	10.38	54.75	42.36
Gross Profit, 3 Yr. CAGR %	33.09	-4.35	16.71	10.55	29.59
EBITDA, 3 Yr. CAGR %	14.08	9.55	25.41	21.78	23.29
EBITA, 3 Yr. CAGR %	33.11	188.76	70.51	63.71	49.99
EBIT, 3 Yr. CAGR %	2.74	66.89	61.81	55.62	43.07
Earnings From Cont. Operations, 3 Yr. CAGR %	-35.89	5.43	66.72	7.67	44.98
Net Income, 3 Yr. CAGR %	7.18	-52.38	97.02	-29.77	200.39
Diluted EPS Before Extra, 3 Yr. CAGR %	-40.24	0.19	-	-	47.57
Normalized Net Income, 3 Yr. CAGR %	-25.38	20.09	78.64	50.14	39.75
Net Property, Plant and Equip., 3 Yr. CAGR %	-5.6	-2	0.88	6.2	3.4
Inventory, 3 Yr. CAGR %	-9.59	-14.69	-7.59	42.76	15.48
Accounts Receivable, 3 Yr. CAGR %	-15.51	-14.01	28.9	55.8	34.48
Total Assets, 3 Yr. CAGR %	-2.52	-3.12	16.43	17.05	13.25
Common Equity, 3 Yr. CAGR %	-3.65	-3.3	0.27	2.04	6.49
Tangible Book Value, 3 Yr. CAGR %	-3.49	-2.36	5.97	3.81	10.87
Cash From Operations, 3 Yr. CAGR %	13.23	-20.77	-46.51	-14.12	45.12
Capital Expenditures, 3 Yr. CAGR %	-10.74	12.27	28.81	14.2	0.67
Levered Free Cash Flow, 3 Yr. CAGR %	50.34	2.59	-13.73	-15.5	7.13
Unlevered Free Cash Flow, 3 Yr. CAGR %	32.81	2.84	-17.04	-7.35	8.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-7.9	-10.8	1.25	28.17	16.13
Gross Profit, 5 Yr. CAGR %	12.29	18.84	26.83	1.84	22.31
EBITDA, 5 Yr. CAGR %	-10.01	-2.11	16.99	16.12	25.71
EBITA, 5 Yr. CAGR %	-11.24	36.94	38.03	118.34	55.55
EBIT, 5 Yr. CAGR %	-10.7	55.06	20.67	59.3	51.2
Earnings From Cont. Operations, 5 Yr. CAGR %	12.25	-27.58	2.99	1.55	44.31
Net Income, 5 Yr. CAGR %	64.31	-54.55	1.2	-3.02	56.99
Diluted EPS Before Extra, 5 Yr. CAGR %	15.35	-29.21	3.86	-	-
Normalized Net Income, 5 Yr. CAGR %	-23.73	11.47	7.79	39.23	54.45
Net Property, Plant and Equip., 5 Yr. CAGR %	-5.3	-1.29	-1	1.61	0.88
Inventory, 5 Yr. CAGR %	-22.61	-14.89	-0.45	16.29	-4.84
Accounts Receivable, 5 Yr. CAGR %	-16.85	-14.96	13.54	20.92	9.14
Total Assets, 5 Yr. CAGR %	-6.26	-6	7.44	10.93	5.18
Common Equity, 5 Yr. CAGR %	-4.27	-0.33	-0.07	-0.88	1.88
Tangible Book Value, 5 Yr. CAGR %	0.46	3.2	2.1	-0.22	6.71
Cash From Operations, 5 Yr. CAGR %	6.45	-17.45	-35.53	-5.02	19.96
Capital Expenditures, 5 Yr. CAGR %	-0.81	8.14	7.89	10.05	12.58
Levered Free Cash Flow, 5 Yr. CAGR %	-22.02	8.61	-5.76	-13.57	33.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	-22.11	4.55	-18.04	-11.37	39.56