A2A SpA (MEX:A2AN) ROE %: 14.29% (As of Mar. 2026) — 21% Above Median


MEX:A2AN A2A SpA MEX:A2AN
75 GF Score
Price MXN47.66
GF Value MXN50.08
! 2 Warning Signs
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What is A2A SpA ROE %?

A2A SpA MEX:A2AN 75 ROE % is 14.29% as of Mar. 2026, which is 21% above its 10-year median of 11.78. GuruFocus rates MEX:A2AN with a GF Score™ of 75/100 and a GF Value™ of MXN50.08. The stock has 2 warning signs investors should review. Among 503 Utilities - Regulated companies, A2A SpA ranks better than 70.97% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. A2A SpA's annualized net income for the quarter that ended in Mar. 2026 was MXN18,012 Mil. A2A SpA's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was MXN126,054 Mil. Therefore, A2A SpA's annualized ROE % for the quarter that ended in Mar. 2026 was 14.29%.

The historical rank and industry rank for A2A SpA's ROE % or its related term are showing as below:

MEX:A2AN' s ROE % Range Over the Past 10 Years
Min: 8.64   Med: 11.78   Max: 17.68
Current: 12.24

During the past 13 years, A2A SpA's highest ROE % was 17.68%. The lowest was 8.64%. And the median was 11.78%.

MEX:A2AN's ROE % is ranked better than
70.97% of 503 companies
in the Utilities - Regulated industry
Industry Median: 8.62 vs MEX:A2AN: 12.24

A2A SpA  (MEX:A2AN) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=18011.852/126054.21
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(18011.852 / 375080.16)*(375080.16 / 469100.3265)*(469100.3265 / 126054.21)
=Net Margin %*Asset Turnover*Equity Multiplier
=4.8 %*0.7996*3.7214
=ROA %*Equity Multiplier
=3.84 %*3.7214
=14.29 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=18011.852/126054.21
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (18011.852 / 27601.496) * (27601.496 / 28185.216) * (28185.216 / 375080.16) * (375080.16 / 469100.3265) * (469100.3265 / 126054.21)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 0.6526 * 0.9793 * 7.51 % * 0.7996 * 3.7214
=14.29 %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


A2A SpA ROE % Related Terms


A2A SpA ROE % Historical Data

* Premium members only.

The historical data trend for A2A SpA's ROE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

A2A SpA ROE % Chart

A2A SpA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.53 9.88 15.34 18.93 12.88

A2A SpA Quarterly Data
Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.42 12.47 10.42 11.54 14.29

MEX:A2AN vs SRE: ROE % Comparison

For the Utilities - Diversified subindustry, A2A SpA's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


A2A SpA ROE % vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, A2A SpA's ROE % distribution charts can be found below:

* The bar in red indicates where A2A SpA's ROE % falls into.


MEX:A2AN
75GF Score
A2A SpA MEX:A2AN
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
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A2A SpA ROE % Calculation

A2A SpA's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=15812.968/( (120853.868+124753.779)/ 2 )
=15812.968/122803.8235
=12.88 %

A2A SpA's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %=Net Income (Q: Mar. 2026 )/( (Total Stockholders Equity (Q: Dec. 2025 )+Total Stockholders Equity (Q: Mar. 2026 ))/ count )
=18011.852/( (124753.779+127354.641)/ 2 )
=18011.852/126054.21
=14.29 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 14.29% mean?
A2A SpA (MEX:A2AN) has a ROE % of 14.29% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on A2A SpA and its competitors. This is 21% above median its historical median of 11.78. Over the past decade, A2A SpA's ROE % has ranged from 8.64 to 17.68. According to the industry distribution chart, A2A SpA ranks #146 out of 503 companies in the Utilities - Regulated industry, placing it in the top 29%.
Is A2A SpA's ROE % too high?
A2A SpA's current ROE % of 14.29% is 21% above median its 10-year median of 11.78. Over the past 10 years, this metric has ranged from a low of 8.64 to a high of 17.68. The Utilities - Regulated industry median ROE % is 8.62. A2A SpA's value of 14.29% is 65.8% above this industry median. Based on the distribution chart, A2A SpA ranks #146 out of 503 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, A2A SpA has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does A2A SpA's ROE % compare to SRE?
According to the Utilities - Regulated industry distribution chart, A2A SpA ranks #146 out of 503 companies for ROE %. This puts A2A SpA in the upper half of its industry. The industry median ROE % is 8.62. A2A SpA's value of 14.29% is 65.8% above this benchmark. Historically, A2A SpA's own ROE % has ranged from 8.64 to 17.68 over the past decade. While the company's 10-year median is 11.78 vs. the industry median of 8.62, A2A SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Utilities - Regulated company?
The median ROE % among Utilities - Regulated companies is 8.62, based on 503 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. A2A SpA's current ROE % of 14.29% is 65.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on A2A SpA and its competitors. For the Utilities - Regulated industry, the median ROE % is 8.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. A2A SpA's current ROE % is 14.29%, which is 21% above median its own 10-year median of 11.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is A2A SpA stock overvalued right now?
A2A SpA (MEX:A2AN) has a current ROE % of 14.29%. The stock's GF Value™ is MXN50.08, compared to a current price of MXN47.66 — trading 4.8% below its estimated fair value. The current ROE % is 14.29%, which is 21% above median its 10-year median of 11.78 and 65.8% above the Utilities - Regulated industry median of 8.62. A2A SpA's overall GF Score™ is 75/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For A2A SpA (MEX:A2AN), the current ROE % is 14.29% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is A2A SpA (MEX:A2AN) Overvalued in 2026?

Based on GuruFocus' analysis, A2A SpA stock appears to be undervalued. The current stock price of MXN47.66 is trading 4.8% below its estimated GF Value™ of MXN50.08.

Key valuation signals for MEX:A2AN:

  • ROE %: 14.29% (21% above median its 10-year median of 11.78)
  • GF Value™: MXN50.08 vs. price of MXN47.66 (4.8% below fair value)
  • GF Score™: 75/100 with 2 warning signs
  • Industry Position: 65.8% above the Utilities - Regulated median (#146 of 503)

No single metric tells the full story. See the MEX:A2AN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


A2A SpA Business Description

Address Via Lamarmora 230, Brescia, ITA, 25124
A2A SpA together with its subsidiaries is engaged in the production, sale, and distribution of electricity; sale and distribution of gas; production, distribution, and sale of heat through district heating networks, technical consultancy relating to energy efficiency certificates, waste management (from collection and sweeping to disposal) and the construction and management of integrated waste disposal plants and systems, also making these available for other operators, and integrated water cycle management.
75GF Score

Get the complete analysis for MEX:A2AN

ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN47.66
Price
MXN50.08
GF Value