olivLaw · European equity research
ENERGOAQUA, a.s. ENRGA.PR
Czechia · Burza cenných papírů Praha · Vertical: Listed companies from Czechia
ENERGOAQUA, a.s. is a company that supplies technological media such as nitrogen and hydrogen gas, compressed air and demineralised water to industrial clients, operating from an industrial area in Vrbno pod Pradědem. It remains relevant as it plans capacity expansions funded from own resources and bank credit, while holding 70,100 treasury shares in 2020, equal to 9.97 % of subscribed share capital.
At the close of 04 Nov 2026, ENERGOAQUA, a.s. (ENRGA.PR) stock was 3,720.00 CZK (+0.00% on the day), with beta -0.02, 52-week range 3,520.00–4,440.00 CZK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 48.0
- neutral
- Bollinger (20, 2)
- 3,402.17 – 4,173.83
- in the lower half of the band · %B 0.41 · band width 20.4%
- SMA 50 / 200
- 3,726.80 / 2,929.50
- mixed trend
- MACD (12, 26, 9)
- -20.40 / -0.67
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.4% | +0.4% | −11.8 pp | — |
| 3 months | unavailable | −3.3% | unavailable | — |
| 6 months | unavailable | +4.0% | unavailable | — |
| Year to date | unavailable | +8.1% | unavailable | — |
| 1 year | +3.3% | +10.7% | −7.4 pp | +4.6% |
| 3 years | unavailable | +50.1% | unavailable | +48.7% |
| 5 years | +43.1% | +43.6% | −0.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 |
|---|---|---|
| Revenue | 524.1 m | 649.2 m |
| Revenue YoY | unavailable | +23.9% |
| Net income | 179.4 m | 245.8 m |
| Net income YoY | unavailable | +37.0% |
| Diluted EPS | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable |
| net % | 34.2% | 37.9% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2020 · 31 Dec 2020
- Cash
- 242.4 m CZK
- Financial debt
- 0 CZK
- Net debt
- -242.4 m CZK
- Equity
- 2.5 bn CZK
- Total assets
- 2.9 bn CZK
- Debt / equity
- 0.00x
- Current ratio
- 4.41x
- ROE
- 10.1%
- ROA
- 8.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (CZK)
Margins
Income statement · CZK
| Line | 2019 | 2020 | Source (latest year) |
|---|---|---|---|
| Revenue | 524.1 m | 649.2 m | esef· 20 May 2021verified |
| Depreciation & amortisation | 61.6 m | 62.6 m | esef· 20 May 2021verified |
| Pre-tax income | -217.4 m | -305.1 m | esef· 20 May 2021verified |
| Income tax | 38.5 m | 58.5 m | esef· 20 May 2021verified |
| Net income | 179.4 m | 245.8 m | esef· 20 May 2021verified |
Balance sheet · CZK
| Line | 2019 | 2020 | Source (latest year) |
|---|---|---|---|
| Cash | 135.0 m | 242.4 m | esef· 20 May 2021verified |
| Receivables | 109.4 m | 93.9 m | esef· 20 May 2021verified |
| Inventories | 134.4 m | 131.4 m | esef· 20 May 2021verified |
| Current assets | 517.1 m | 684.6 m | esef· 20 May 2021verified |
| Property, plant & equipment, net | 878.0 m | 873.4 m | esef· 20 May 2021verified |
| Intangibles (excl. goodwill) | 345.0 k | 962.0 k | esef· 20 May 2021verified |
| Total assets | 2.7 bn | 2.9 bn | esef· 20 May 2021verified |
| Accounts payable | 69.8 m | 87.4 m | esef· 20 May 2021verified |
| Long-term debt | 36.1 m | 0 | esef· 20 May 2021verified |
| Current liabilities | 164.2 m | 155.1 m | esef· 20 May 2021verified |
| Equity | 2.3 bn | 2.5 bn | esef· 20 May 2021verified |
Cash flow · CZK
| Line | 2019 | 2020 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 78.2 m | 141.8 m | esef· 20 May 2021verified |
| Investing cash flow | 24.7 m | 76.3 m | esef· 20 May 2021verified |
| Financing cash flow | -120.4 m | -110.7 m | esef· 20 May 2021verified |
| Dividends paid | 52.2 m | 70.9 m | esef· 20 May 2021verified |
| Share repurchases | 0 | 0 | esef· 20 May 2021verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 10.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
10% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 37.9% | 100 (on a fixed band) | 60% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.4x | 100 (on a fixed band) | 40% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial100/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ENERGOAQUA, a.s. (ENRGA.PR). Latest full fiscal year: 2020; data up to 2020-12-31.
Figures computed from the financial statements: revenue 649.2 m CZK in 2020; YoY growth 23.9%; net margin 37.9%; ROE 10.3%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 37.9%
- Current ratio: 4.4x
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Czechia · same country · compared with 3 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| COLT.PRCZG - Česká zbrojovka Group SE | 26.5 bn | 39.4 | 16.9% | 9.9% | +14.4% | +7% / +49% |
| KOFOL.PRKofola ČeskoSlovensko a.s. | 11.2 bn | 139.1 | 5.6% | 1.3% | −3.7% | +5% / +82% |
| TOMA.PRTOMA, a.s. | 1.7 bn | 5.4 | 7.6% | 23.8% | +52.4% | +1% / +2% |
| ENRGA.PRENERGOAQUA, a.s. | — | — | 10.3% | 37.9% | +23.9% | +16% / +42% |
1- and 3-year price returns: for ENRGA.PR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
ENERGOAQUA, a.s. is a company that supplies technological media such as nitrogen and hydrogen gas, compressed air and demineralised water to industrial clients, operating from an industrial area in Vrbno pod Pradědem. It remains relevant as it plans capacity expansions funded from own resources and bank credit, while holding 70,100 treasury shares in 2020, equal to 9.97 % of subscribed share capital 1.
SWOT
Strengths
- The company reports stable revenues and an annual profit, which according to management allow it to fund investments and dividends 1.
- Existing infrastructure includes production lines and storage space that can be expanded for industrial clients 1.
- The company has planned concrete investments in advance, with several expansion projects 1.
Weaknesses
- The business depends on a relatively small number of important industrial clients in the region, which concentrates commercial risk 1.
- Some buildings in the industrial area are old, and no significant investment in them is planned in the near term 1.
- The timing of property sales has already been postponed and could be postponed again 1.
Opportunities
Risks
- Dependence on a small number of clientshigh
Revenue could be significantly affected if one of the major clients reduces orders or ends the relationship 1.
- Postponement of property salesmedium
Sales at «Harcovna» have already been postponed and could be postponed again if the regional market weakens 1.
- Financing of investments through creditmedium
Expansion plans partly depend on bank loans, and higher costs could reduce project returns 1.
- Delays in developing the sitemedium
The joint project depends on approval of the new town plan, and a delay could postpone use of the land 1.
- Condition of older buildingslow
The buildings in the area are considerably old, and a lack of investment could affect their attractiveness to tenants 1.
Investment thesis
What would need to be true (bull case)
- If industrial demand in the region holds, expanding nitrogen, hydrogen and compressed air capacity could support revenue growth 1.
- Stable annual profits and available financial resources could allow dividends and investments to continue 1.
- Making use of unused buildings and land could generate additional rental income 1.
What would break the thesis
What to watch
- Completion of sales in the «Harcovna» residential complex2021-2022
- Execution of planned investments in nitrogen and hydrogen generators2021-2022
- Approval of the new town plan for Vrbno pod Pradědemnext annual report
- Development of dividend payments and annual resultsnext annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The core business of ENERGOAQUA, a.s. is the production and distribution of energy and water-management media, which the company describes as its main production programme in its 2020 annual report 1. The company produces and delivers nitrogen gas, hydrogen gas, compressed air and demineralised water, and planned to expand these lines in 2021 and 2022 1. It also runs real estate activities, including leasing premises in its industrial area and selling flats in the «Harcovna» residential complex 1.
Segments
Production and supply of technological media
This segment covers nitrogen gas, hydrogen gas, compressed air and demineralised water supplied to industrial clients. For 2021-2022 the company planned a second nitrogen generator, a hydrogen generator backed up by external supply, and a fourth demineralised water line 1.
Real estate activities
This segment includes leasing administrative and storage space in the industrial area and selling flats and terraced houses in the «Harcovna» complex 1. By the end of 2020 roughly three quarters of the units were sold or reserved, and completion of sales could slip into 2022 1.
Market context
Trends
- Rising demand for local production capacitytailwind
The company says it expands production and storage capacity according to real client needs, which could support revenue if industrial demand in the region holds 1.
- Volatility of the regional property marketheadwind
Sales at «Harcovna» could be postponed further if conditions in the regional property market deteriorate, as the company acknowledges 1.
- Investments financed partly by bank creditmixed
Planned expansion relies partly on a bank credit facility, which could raise costs if financing conditions worsen 1.
- Redevelopment of the site and urban renewalmixed
Talks with the town of Vrbno pod Pradědem on a joint urban centre project could make use of free land, but depend on approval of a new town plan 1.
Competitive position
The annual report does not explicitly name competitors. The company operates in supplying technological media to industrial clients in its region, so competition could come from other local suppliers of nitrogen, hydrogen, compressed air and demineralised water 1.
- Regional industrial gas and utility suppliers
The source does not name competitors. The category is inferred from the company's activity profile and is not confirmed by the filing.
- Local suppliers of compressed air and demineralised water
Not identified in the annual report. Competition may be local given the size of the industrial area.
- Regional property developers
Compete for buyers of homes in the «Harcovna» complex. Not named in the source.
- Owners of industrial space for lease
Compete for tenants of administrative and storage space. Not named in the source.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202020 May 2021
Sources
- [1] Annual report, fiscal year ended 2020-12-31 (ESEF) · SEC / ENERGOAQUA, a.s. · 31 Dec 2020
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.