Comprehensive Stock Comparison
Compare Algonquin Power & Utilities Corp. (AQN) vs Ellomay Capital Ltd. (ELLO) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | AQN | -3.5% revenue growth vs ELLO's -17.1% |
| Quality / Margins | ELLO | 2.6% net margin vs AQN's -57.7% |
| Stability / Safety | AQN | Beta 0.44 vs ELLO's 0.47, lower leverage |
| Dividends | AQN | 5.6% yield; ELLO pays no meaningful dividend |
| Momentum (1Y) | AQN | +51.5% vs ELLO's +50.1% |
| Efficiency (ROA) | ELLO | 0.1% ROA vs AQN's -10.0%, ROIC 1.2% vs 2.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Algonquin Power & Utilities is a diversified utility company that operates both regulated utilities and renewable energy generation assets. It generates revenue through regulated utility services — primarily electric, natural gas, and water distribution — and through selling electricity from its renewable portfolio of hydro, wind, and solar facilities. The company benefits from stable cash flows from its regulated utility operations while capitalizing on growth opportunities in renewable energy development.
Ellomay Capital is a renewable energy developer and operator focused on solar photovoltaic plants, hydroelectric storage, and anaerobic digestion facilities across Israel, Spain, and the Netherlands. It generates revenue primarily through electricity sales from its operational power plants—including solar farms, a dual-fuel power plant, and developing pumped storage hydro—with additional income from project development and green gas production. The company's competitive advantage lies in its diversified renewable energy portfolio across multiple geographies and technologies, providing resilience against regional regulatory changes and weather-dependent generation risks.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
AQN leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). ELLO leads in 2 (Total Returns, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
AQN is the larger business by revenue, generating $2.4B annually — 54.2x ELLO's $44M. ELLO is the more profitable business, keeping 2.6% of every revenue dollar as net income compared to AQN's -57.7%. On growth, ELLO holds the edge at +22.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| RevenueTrailing 12 months | $2.4B | $44M |
| EBITDAEarnings before interest/tax | $792M | $20M |
| Net IncomeAfter-tax profit | -$1.4B | $1M |
| Free Cash FlowCash after capex | $2.6B | -$105M |
| Gross MarginGross profit ÷ Revenue | +65.1% | +19.4% |
| Operating MarginEBIT ÷ Revenue | +19.4% | +6.1% |
| Net MarginNet income ÷ Revenue | -57.7% | +2.6% |
| FCF MarginFCF ÷ Revenue | +109.0% | -2.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.4% | +22.4% |
| EPS Growth (YoY)Latest quarter vs prior year | -89.3% | +85.1% |
Valuation Metrics
On an enterprise value basis, AQN's 13.0x EV/EBITDA is more attractive than ELLO's 30.4x.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| Market CapShares × price | $5.4B | $332M |
| Enterprise ValueMkt cap + debt − cash | $12.0B | $898M |
| Trailing P/EPrice ÷ TTM EPS | -3.86x | -40.05x |
| Forward P/EPrice ÷ next-FY EPS est. | 19.20x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 13.03x | 30.43x |
| Price / SalesMarket cap ÷ Revenue | 2.31x | 6.95x |
| Price / BookPrice ÷ Book value/share | 0.83x | 2.04x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
ELLO delivers a 0.6% return on equity — every $100 of shareholder capital generates $1 in annual profit, vs $-27 for AQN. AQN carries lower financial leverage with a 1.08x debt-to-equity ratio, signaling a more conservative balance sheet compared to ELLO's 4.03x. On the Piotroski fundamental quality scale (0–9), AQN scores 6/9 vs ELLO's 3/9, reflecting solid financial health.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| ROE (TTM)Return on equity | -26.7% | +0.6% |
| ROA (TTM)Return on assets | -10.0% | +0.1% |
| ROICReturn on invested capital | +2.5% | +1.2% |
| ROCEReturn on capital employed | +2.8% | +1.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 1.08x | 4.03x |
| Net DebtTotal debt minus cash | $6.7B | $480M |
| Cash & Equiv.Liquid assets | $35M | $41M |
| Total DebtShort + long-term debt | $6.7B | $521M |
| Interest CoverageEBIT ÷ Interest expense | 1.29x | 0.60x |
Total Returns (with DRIP)
A $10,000 investment in ELLO five years ago would be worth $7,801 today (with dividends reinvested), compared to $6,015 for AQN. Over the past 12 months, AQN leads with a +51.5% total return vs ELLO's +50.1%. The 3-year compound annual growth rate (CAGR) favors ELLO at 24.4% vs AQN's 2.0% — a key indicator of consistent wealth creation.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| YTD ReturnYear-to-date | +14.1% | -9.9% |
| 1-Year ReturnPast 12 months | +51.5% | +50.1% |
| 3-Year ReturnCumulative with dividends | +6.0% | +92.7% |
| 5-Year ReturnCumulative with dividends | -39.8% | -22.0% |
| 10-Year ReturnCumulative with dividends | +55.5% | +203.9% |
| CAGR (3Y)Annualised 3-year return | +2.0% | +24.4% |
Risk & Volatility
AQN is the less volatile stock with a 0.44 beta — it tends to amplify market swings less than ELLO's 0.47 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. AQN currently trades 98.2% from its 52-week high vs ELLO's 79.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.44x | 0.47x |
| 52-Week HighHighest price in past year | $7.11 | $30.34 |
| 52-Week LowLowest price in past year | $4.29 | $13.00 |
| % of 52W HighCurrent price vs 52-week peak | +98.2% | +79.4% |
| RSI (14)Momentum oscillator 0–100 | 68.6 | 35.9 |
| Avg Volume (50D)Average daily shares traded | 4.0M | 3K |
Analyst Outlook
AQN is the only dividend payer here at 5.58% yield — a key consideration for income-focused portfolios.
| Metric | AQNAlgonquin Power &… | ELLOEllomay Capital L… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | — |
| Price TargetConsensus 12-month target | $7.00 | — |
| # AnalystsCovering analysts | 12 | — |
| Dividend YieldAnnual dividend ÷ price | +5.6% | — |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $0.39 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Algonquin Power & U… (AQN) | 100 | 41.68 | -58.3% |
| Ellomay Capital Ltd. (ELLO) | 100 | 158.31 | +58.3% |
Ellomay Capital Ltd. (ELLO) returned -22% over 5 years vs Algonquin Power & U… (AQN)'s -40%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Algonquin Power & U… (AQN) | $741M | $2.3B | +213.2% |
| Ellomay Capital Ltd. (ELLO) | $13M | $40M | +220.2% |
Algonquin Power & Utilities Corp.'s revenue grew from $741M (2015) to $2.3B (2024) — a 13.5% CAGR. Ellomay Capital Ltd.'s revenue grew from $13M (2015) to $40M (2024) — a 13.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Algonquin Power & U… (AQN) | 11.4% | -59.5% | -620.7% |
| Ellomay Capital Ltd. (ELLO) | 54.7% | -16.1% | -129.5% |
Algonquin Power & Utilities Corp.'s net margin went from 11% (2015) to -60% (2024). Ellomay Capital Ltd.'s net margin went from 55% (2015) to -16% (2024).
Chart 4P/E Ratio History — 6 Years
| Stock | 2017 | 2023 | Change |
|---|---|---|---|
| Algonquin Power & U… (AQN) | 30.2 | 210.7 | +597.7% |
| Ellomay Capital Ltd. (ELLO) | 78.2 | 87.9 | +12.4% |
Algonquin Power & Utilities Corp. has traded in a 12x–211x P/E range over 6 years; current trailing P/E is ~-4x. Ellomay Capital Ltd. has traded in a 17x–88x P/E range over 3 years; current trailing P/E is ~-40x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Algonquin Power & U… (AQN) | 0.3 | -1.81 | -703.3% |
| Ellomay Capital Ltd. (ELLO) | 0.64 | -0.51 | -179.7% |
Algonquin Power & Utilities Corp.'s EPS grew from $0.30 (2015) to $-1.81 (2024) — a NaN% CAGR. Ellomay Capital Ltd.'s EPS grew from $0.64 (2015) to $-0.51 (2024) — a NaN% CAGR.
Chart 6Free Cash Flow — 5 Years
Algonquin Power & Utilities Corp. generated $-391M FCF in 2024 (+67% vs 2021). Ellomay Capital Ltd. generated $-67M FCF in 2024 (+0% vs 2021).
AQN vs ELLO: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is AQN or ELLO a better buy right now?
Analysts rate Algonquin Power & Utilities Corp. (AQN) a "Hold" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — AQN or ELLO?
Over the past 5 years, Ellomay Capital Ltd. (ELLO) delivered a total return of -22.0%, compared to -39.8% for Algonquin Power & Utilities Corp. (AQN). A $10,000 investment in ELLO five years ago would be worth approximately $8K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ELLO returned +203.9% versus AQN's +55.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — AQN or ELLO?
By beta (market sensitivity over 5 years), Algonquin Power & Utilities Corp. (AQN) is the lower-risk stock at 0.44β versus Ellomay Capital Ltd.'s 0.47β — meaning ELLO is approximately 7% more volatile than AQN relative to the S&P 500. On balance sheet safety, Algonquin Power & Utilities Corp. (AQN) carries a lower debt/equity ratio of 108% versus 4% for Ellomay Capital Ltd. — giving it more financial flexibility in a downturn.
04Which has better profit margins — AQN or ELLO?
Ellomay Capital Ltd. (ELLO) is the more profitable company, earning -16.1% net margin versus -59.5% for Algonquin Power & Utilities Corp. — meaning it keeps -16.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ELLO leads at 22.4% versus 19.2% for AQN. At the gross margin level — before operating expenses — AQN leads at 74.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — AQN or ELLO?
In this comparison, AQN (5.6% yield) pays a dividend. ELLO does not pay a meaningful dividend and should not be held primarily for income.
06Is AQN or ELLO better for a retirement portfolio?
For long-horizon retirement investors, Algonquin Power & Utilities Corp. (AQN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.44), 5.6% yield). Both have compounded well over 10 years (AQN: +55.5%, ELLO: +203.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between AQN and ELLO?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: AQN is a small-cap income-oriented stock; ELLO is a small-cap quality compounder stock. AQN pays a dividend while ELLO does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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