Buy Or Sell Opportunity • Jun 04
Now 21% undervalued Over the last 90 days, the stock has risen 4.2% to €6.98. The fair value is estimated to be €8.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has declined by 83%. Revenue is forecast to grow by 202% in 2 years. Earnings are forecast to grow by 293% in the next 2 years. Reported Earnings • May 17
First quarter 2026 earnings released: €0.019 loss per share (vs €0.17 profit in 1Q 2025) First quarter 2026 results: €0.019 loss per share (down from €0.17 profit in 1Q 2025). Revenue: €1.72m (down 76% from 1Q 2025). Net loss: €350.0k (down 112% from profit in 1Q 2025). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Construction industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. New Risk • May 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (29% net profit margin). Reported Earnings • Mar 29
Full year 2025 earnings released Full year 2025 results: Revenue: €22.5m (down 36% from FY 2024). Net income: €8.32m (down 48% from FY 2024). Profit margin: 37% (down from 45% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Italy. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 27
Consensus revenue estimates fall by 28% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €49.1m to €35.4m. EPS estimate fell from €1.12 to €0.775 per share. Net income forecast to shrink 15% next year vs 25% growth forecast for Construction industry in Italy . Consensus price target down from €10.47 to €8.67. Share price was steady at €6.37 over the past week. Price Target Changed • Mar 24
Price target decreased by 14% to €9.13 Down from €10.63, the current price target is an average from 3 analysts. New target price is 41% above last closing price of €6.49. Stock is down 9.6% over the past year. The company is forecast to post earnings per share of €0.61 for next year compared to €0.93 last year. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (63% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.3% average weekly change). Price Target Changed • Nov 20
Price target decreased by 7.2% to €10.63 Down from €11.45, the current price target is an average from 4 analysts. New target price is 72% above last closing price of €6.18. Stock is down 11% over the past year. The company is forecast to post earnings per share of €0.61 for next year compared to €0.93 last year. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: €0.11 (vs €0.31 in 3Q 2024) Third quarter 2025 results: EPS: €0.11 (down from €0.31 in 3Q 2024). Revenue: €5.84m (down 44% from 3Q 2024). Net income: €2.04m (down 62% from 3Q 2024). Profit margin: 35% (down from 52% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Construction industry in Italy. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €6.81, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Construction industry in Italy. Total returns to shareholders of 173% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.94 per share. Major Estimate Revision • Sep 14
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €50.4m to €42.5m. EPS estimate fell from €1.16 to €0.999 per share. Net income forecast to grow 124% next year vs 25% growth forecast for Construction industry in Italy. Consensus price target broadly unchanged at €11.45. Share price fell 6.8% to €7.18 over the past week. Buy Or Sell Opportunity • Aug 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to €7.48. The fair value is estimated to be €9.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last year, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Buy Or Sell Opportunity • Jul 16
Now 22% undervalued Over the last 90 days, the stock has risen 12% to €7.76. The fair value is estimated to be €9.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last year, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €8.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Construction industry in Italy. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.70 per share. Buy Or Sell Opportunity • Mar 31
Now 20% undervalued Over the last 90 days, the stock has risen 3.9% to €6.67. The fair value is estimated to be €8.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 62% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Buy Or Sell Opportunity • Mar 11
Now 22% undervalued Over the last 90 days, the stock has risen 1.5% to €6.58. The fair value is estimated to be €8.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 62% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. New Risk • Feb 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change). Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €6.52, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Construction industry in Italy. Total returns to shareholders of 353% over the past three years. New Risk • Jan 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €95.2m (US$99.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risk Market cap is less than US$100m (€95.2m market cap, or US$99.2m). Reported Earnings • Sep 30
First half 2024 earnings released: EPS: €0.31 (vs €4.17 in 1H 2023) First half 2024 results: EPS: €0.31. Revenue: €14.5m (up €12.2m from 1H 2023). Net income: €5.32m (up 54% from 1H 2023). Profit margin: 37% (down from 147% in 1H 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Italy. Buy Or Sell Opportunity • Aug 13
Now 23% overvalued Over the last 90 days, the stock has fallen 23% to €6.34. The fair value is estimated to be €5.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has grown by 76%. For the next 3 years, revenue is forecast to grow by 34% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. New Risk • Oct 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 6.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (6.9% average weekly change). Minor Risks Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Market cap is less than US$100m (€82.1m market cap, or US$86.4m). Announcement • Feb 03
Altea Green Power S.p.A. has completed an IPO in the amount of €4.4 million. Altea Green Power S.p.A. has completed an IPO in the amount of €4.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,666,667
Price\Range: €1.2