ERG S.p.A.

BIT:ERG Stock Report

Market Cap: €3.3b

ERG Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Paolo Merli

Chief executive officer

€3.2m

Total compensation

CEO salary percentage35.51%
CEO tenure5.1yrs
CEO ownershipn/a
Management average tenureno data
Board average tenure4.4yrs

Recent management updates

Recent updates

ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price

Feb 12
ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price

ERG: Lower Discount Rate And Higher Margins Will Shape Fair Near-Term Outlook

Analysts have lifted their fair value estimate for ERG from $23.43 to $23.90, citing updated assumptions for discount rates, profit margins and future P/E that they see as better reflecting the company’s risk profile and earnings power. What's in the News Board meeting scheduled for March 11, 2026 to review and approve ERG S.p.A.'s consolidated financial statements and draft financial statements as of December 31, 2025 (Key Developments).

ERG: Slight P/E Adjustment Will Sustain Concern Over Stretchy Share Pricing

Analysts have trimmed their price target on ERG by a modest amount, citing slightly higher discount rate and revenue growth assumptions alongside a small adjustment to future P/E expectations. Together, these changes fine tune their valuation rather than signal a major shift in view.

ERG: Lower Margin Outlook Will Pressure Returns Despite Reduced Discount Rate

Analysts have kept their ERG fair value target steady at $20.00, with the latest adjustment reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E, rather than a shift in their overall price view. What's in the News Board meeting scheduled for March 11, 2026, to review and approve ERG S.p.A.'s consolidated financial statements and draft financial statements as of December 31, 2025 (Key Developments).

ERG (BIT:ERG) Has A Somewhat Strained Balance Sheet

Dec 30
ERG (BIT:ERG) Has A Somewhat Strained Balance Sheet

ERG: Discount Rate Shift And Modest Margin Pressure Will Shape Outlook

Analysts have raised their price target on ERG by 0.50 to 20.00, citing slightly stronger expected revenue growth and a modestly lower discount rate, which more than offset a small reduction in projected profit margins. Valuation Changes Fair Value: Raised slightly from €19.50 to €20.00 per share, reflecting a modest uplift in intrinsic valuation.

ERG: Lower Discount Rate And Higher P/E Will Shape Near-Term Performance

Analysts have raised their fair value estimate for ERG by $0.60 to $23.43. This change reflects adjustments in discount rates and expectations for future growth and profitability.

Some May Be Optimistic About ERG's (BIT:ERG) Earnings

Nov 26
Some May Be Optimistic About ERG's (BIT:ERG) Earnings

Is ERG S.p.A. (BIT:ERG) Expensive For A Reason? A Look At Its Intrinsic Value

Nov 24
Is ERG S.p.A. (BIT:ERG) Expensive For A Reason? A Look At Its Intrinsic Value

ERG: Shifts In Discount Rate And P/E Ratio Will Influence Future Stability

Analysts have raised their price target for ERG from $22.58 to $22.83, citing small shifts in the discount rate and projected future price-to-earnings ratios as supporting factors for the update. Valuation Changes Fair Value has increased slightly from €22.58 to €22.83.

Slowing Rates Of Return At ERG (BIT:ERG) Leave Little Room For Excitement

Oct 31
Slowing Rates Of Return At ERG (BIT:ERG) Leave Little Room For Excitement

ERG (BIT:ERG) Takes On Some Risk With Its Use Of Debt

Sep 17
ERG (BIT:ERG) Takes On Some Risk With Its Use Of Debt

ERG S.p.A. Recorded A 5.5% Miss On Revenue: Analysts Are Revisiting Their Models

Aug 06
ERG S.p.A. Recorded A 5.5% Miss On Revenue: Analysts Are Revisiting Their Models

Estimating The Fair Value Of ERG S.p.A. (BIT:ERG)

Jul 07
Estimating The Fair Value Of ERG S.p.A. (BIT:ERG)

We Think ERG (BIT:ERG) Is Taking Some Risk With Its Debt

Jun 16
We Think ERG (BIT:ERG) Is Taking Some Risk With Its Debt

The ERG S.p.A. (BIT:ERG) First-Quarter Results Are Out And Analysts Have Published New Forecasts

May 18
The ERG S.p.A. (BIT:ERG) First-Quarter Results Are Out And Analysts Have Published New Forecasts

Returns On Capital At ERG (BIT:ERG) Have Hit The Brakes

May 08
Returns On Capital At ERG (BIT:ERG) Have Hit The Brakes

ERG S.p.A. Just Missed EPS By 5.5%: Here's What Analysts Think Will Happen Next

Mar 15
ERG S.p.A. Just Missed EPS By 5.5%: Here's What Analysts Think Will Happen Next

Estimating The Fair Value Of ERG S.p.A. (BIT:ERG)

Mar 03
Estimating The Fair Value Of ERG S.p.A. (BIT:ERG)

ERG (BIT:ERG) Has A Somewhat Strained Balance Sheet

Feb 13
ERG (BIT:ERG) Has A Somewhat Strained Balance Sheet

Pinning Down ERG S.p.A.'s (BIT:ERG) P/E Is Difficult Right Now

Jan 25
Pinning Down ERG S.p.A.'s (BIT:ERG) P/E Is Difficult Right Now

Returns At ERG (BIT:ERG) Are On The Way Up

Jan 07
Returns At ERG (BIT:ERG) Are On The Way Up
User avatar

Global Expansion And Tactical PPAs With Tier 1 Corporates Will Drive Revenue Growth And Boost Earnings

Strategic investments and new assets aim to bolster future revenue through expanded capacity and repowering efforts.

Shareholders Can Be Confident That ERG's (BIT:ERG) Earnings Are High Quality

Nov 22
Shareholders Can Be Confident That ERG's (BIT:ERG) Earnings Are High Quality

Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

Nov 02
Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

Getting In Cheap On ERG S.p.A. (BIT:ERG) Is Unlikely

Oct 10
Getting In Cheap On ERG S.p.A. (BIT:ERG) Is Unlikely

Returns At ERG (BIT:ERG) Are On The Way Up

Jul 27
Returns At ERG (BIT:ERG) Are On The Way Up

Is ERG (BIT:ERG) Using Too Much Debt?

Jul 02
Is ERG (BIT:ERG) Using Too Much Debt?

Risks To Shareholder Returns Are Elevated At These Prices For ERG S.p.A. (BIT:ERG)

Apr 26
Risks To Shareholder Returns Are Elevated At These Prices For ERG S.p.A. (BIT:ERG)

ERG's (BIT:ERG) Solid Earnings Are Supported By Other Strong Factors

Apr 04
ERG's (BIT:ERG) Solid Earnings Are Supported By Other Strong Factors

ERG (BIT:ERG) Seems To Use Debt Quite Sensibly

Mar 15
ERG (BIT:ERG) Seems To Use Debt Quite Sensibly

Investors Met With Slowing Returns on Capital At ERG (BIT:ERG)

Feb 22
Investors Met With Slowing Returns on Capital At ERG (BIT:ERG)

Investors Still Waiting For A Pull Back In ERG S.p.A. (BIT:ERG)

Jan 05
Investors Still Waiting For A Pull Back In ERG S.p.A. (BIT:ERG)

ERG (BIT:ERG) Has Some Way To Go To Become A Multi-Bagger

Nov 03
ERG (BIT:ERG) Has Some Way To Go To Become A Multi-Bagger

Is ERG (BIT:ERG) Using Too Much Debt?

Sep 18
Is ERG (BIT:ERG) Using Too Much Debt?

There's Been No Shortage Of Growth Recently For ERG's (BIT:ERG) Returns On Capital

Jul 07
There's Been No Shortage Of Growth Recently For ERG's (BIT:ERG) Returns On Capital

These 4 Measures Indicate That ERG (BIT:ERG) Is Using Debt Reasonably Well

May 24
These 4 Measures Indicate That ERG (BIT:ERG) Is Using Debt Reasonably Well

ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price

Apr 05
ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price

Is ERG (BIT:ERG) Using Too Much Debt?

Feb 23
Is ERG (BIT:ERG) Using Too Much Debt?

Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

Nov 22
Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

Is ERG (BIT:ERG) Using Too Much Debt?

Aug 16
Is ERG (BIT:ERG) Using Too Much Debt?

Do ERG's (BIT:ERG) Earnings Warrant Your Attention?

Jul 19
Do ERG's (BIT:ERG) Earnings Warrant Your Attention?

Upgrade: Analysts Just Made A Sizeable Increase To Their ERG S.p.A. (BIT:ERG) Forecasts

May 18
Upgrade: Analysts Just Made A Sizeable Increase To Their ERG S.p.A. (BIT:ERG) Forecasts

Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

May 08
Does ERG (BIT:ERG) Have A Healthy Balance Sheet?

Analysts Just Made A Major Revision To Their ERG S.p.A. (BIT:ERG) Revenue Forecasts

Mar 21
Analysts Just Made A Major Revision To Their ERG S.p.A. (BIT:ERG) Revenue Forecasts

CEO Compensation Analysis

How has Paolo Merli's remuneration changed compared to ERG's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025€3m€1m

€92m

Sep 30 2025n/an/a

€167m

Jun 30 2025n/an/a

€136m

Mar 31 2025n/an/a

€158m

Dec 31 2024€3m€1m

€189m

Sep 30 2024n/an/a

€196m

Jun 30 2024n/an/a

€228m

Mar 31 2024n/an/a

€213m

Dec 31 2023n/an/a

€214m

Sep 30 2023n/an/a

€119m

Jun 30 2023n/an/a

€129m

Mar 31 2023n/an/a

€85m

Dec 31 2022€3m€989k

€85m

Sep 30 2022n/an/a

€277m

Jun 30 2022n/an/a

€62m

Mar 31 2022n/an/a

€223m

Dec 31 2021€3m€797k

€84m

Sep 30 2021n/an/a

€151m

Jun 30 2021n/an/a

€130m

Mar 31 2021n/an/a

€120m

Dec 31 2020€609k€400k

€108m

Compensation vs Market: Paolo's total compensation ($USD3.75M) is about average for companies of similar size in the Italian market ($USD3.52M).

Compensation vs Earnings: Paolo's compensation has been consistent with company performance over the past year.

CEO

Paolo Merli (54 yo)

5.1yrs
Tenure
€3,202,870
Compensation

Mr. Paolo Luigi Merli serves as Chief Executive Officer and Director of ERG S.p.A. since April 26, 2021. He had been the Chief Financial Officer of ERG SpA since March 11, 2014 until April 26, 2021 and ser...

Board Members

NamePositionTenureCompensationOwnership
Edoardo Garrone
Founder & Executive Chairman28.6yrs€710.00kno data
Paolo Merli
CEO & Director5.1yrs€3.20mno data
Alessandro Garrone
Executive Deputy Chairman28.6yrs€1.42mno data
Elisabetta Oliveri
Lead Independent Director8.1yrs€210.00kno data
Giovanni Mondini
Non-Executive Deputy Chairman of the Board28.6yrs€213.88kno data
Barbara Poggiali
Director2.3yrs€130.00kno data
Marina Natale
Independent Director2.3yrs€115.00kno data
Daniela Toscani
Independent Director2.3yrs€70.00kno data
Elisabetta Caldera
Independent Director2.3yrs€105.00kno data
Federica Lolli
Independent Director5.1yrs€150.00kno data
Monica Mannino
Chairman of Board of Statutory Auditors3.1yrsno datano data
Renato Pizzolla
Non-Executive Director3.7yrs€130.00kno data
4.4yrs
Average Tenure
62yo
Average Age

Experienced Board: ERG's board of directors are considered experienced (4.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/04 14:22
End of Day Share Price 2026/04/30 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ERG S.p.A. is covered by 23 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Francesco SalaBanca Akros S.p.A. (ESN)
Tommaso MarabiniBanca Akros S.p.A. (ESN)
Francesco SalaBanca Akros S.p.A. (ESN)