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ELPEEnergy · Oil & Gas Refining & Marketing · ΧΑ

HelleniQ Energy

€18.48
−0.03(−0.16%)
Close 26/10/2026 · end-of-day price, not real-time

HelleniQ Energy (ELPE) closed at €18.48 on 26/10/2026, -0.16% on the day. Market cap €5.6bn, P/E 5.4, dividend yield 3.25%.

My view
Private · MENTOR takes it into account
+96.2%6M
Drag sideways across the chart to pick a period, or click an event's dot below it, then ask MENTOR about it.
26/10/2026Close 18.48−0.16%+96.2% since start

Key statistics

12 months to Jun 2026 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€5.6bn
Enterprise valueJun 2026est.
€7.7bn
Shares outstandingJun 2026
305.3m
Revenue12 months to Jun 2026
€13.5bn
Employees
4,192
Traded a day, 3-month average
€8.7m

Valuation

12 months to Jun 2026
P/E
5.4×
P/B
1.7×
EV/Salesest.
0.57×
EV/EBITDAest.
4.2×

5 years, on reported full years: 2.4–10.7×, median 5.2×. Today 10.6×, higher than 98% of months.

P/FCF
6.5×
Dividend yield
3.2%

Margins

12 months to Jun 2026
GrossFY2025
9.8%
EBITDA
13.6%
Operating (EBIT)
11.1%
Pre-taxFY2025
2.2%
Net
7.8%
Free cash flow
6.4%

Net margin = the shareholders' profit ÷ group revenue.

Returns

12 months to Jun 2026
ROE
30.7%
ROCE
27.6%
ROICest.
19.1%
ROAFY2025
2.1%
ROE, 5-year averageFY2021–25
16.2%
Tax rateFY2025
30.6%
Profit to minority holdersFY2025
2.2%

Financial health

Jun 2026
CashDec 2025
€858.3m
Net debt
€2bn
Net debt ÷ EBITDA
1.1×
Debt ÷ equityDec 2025
120.0%

leases included

Interest cover12 months to Jun 2026
12.4×

Growth

Revenue, last yearFY2025
−9.0%
Revenue, last halfH1 2026
+35.6%
EPS, last yearFY2025
+185.0%
EPS, last halfH1 2026
—

not meaningful: from a loss

Revenue, 3 yearsFY2022–25, a year
−7.1%
Revenue, 5 yearsFY2020–25, a year
+15.0%
EPS, 3 yearsFY2022–25, a year
−41.9%
Shares, 3 yearsFY2022–25
+0.0%

Dividends

FY2025
Yield, last 12 months
3.2%
Per share
€0.750
Payout
131.6%
Covered by free cash flow
0.41×
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+139.2%
3 years, a year
+53.1%
5 years, a year
+37.9%
10 years, a year
+24.6%
Volatility, 1 year
29.5%
Beta to the General Index
0.44×
Deepest fall, 1 year / 5 years
−9.0% / −20.4%
52-week range
€7.64–€19.64
est.worked out by usread with care: tap for why

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

vs MOH
MetricELPEMOH
P/Eone-off5.4—
P/B1.71.9
P/S0.420.54
EV/EBITDAone-off4.2—
Dividend yield3.2%2.6%
Payout ratio131.6%29.3%
Gross margin9.8%9.1%
Operating margin11.1%10.3%
Net margin7.8%8.5%
ROE30.7%30.2%
Revenue growth (last full year)−9.0%−5.8%
Net debt€2.0bn€814.0m
Twelve Data · latest quarter 30/06/2026

Peers: Refiners

EV/EBITDADay
Motor OilMOH4.8−0.9%
HelleniQ EnergyELPE4.2−0.2%

Not compared: PPC (power utilities) · MTLN (industrial groups)

Compare in depth

The company

AI-drafted

HELLENiQ ENERGY Holdings is the listed parent of a Greek energy group. It refines crude at three refineries — Aspropyrgos, Elefsina and Thessaloniki — sells fuels wholesale, as exports and through the EKO and bp station networks, makes polypropylene, and through Enerwave and HELLENiQ Renewables generates and supplies electricity and natural gas in Greece and Southeast Europe.

How it makes moneyH1 2026 · basis: revenue
  • Refining, supply and trading345.3%
  • Fuels marketing342.8%
  • Power and gas39.6%
  • Petrochemicals32.2%
  • Exploration and production3(no revenue in H1 2026)share n/a
It is
  • A holding company: the three refineries sit in the subsidiary HELLENiQ PETROLEUM, while the listed parent provides administrative and financial services.3
  • A refiner earning a spread: a $1 per barrel move in the refining margin was worth about €106m of pre-tax profit in 2025.4
  • Two anchor holders: the Latsis family vehicle has 40.41% and the Greek State, through HCAP, has 31.18% and board-appointment rights.4
It is not
  • No longer called Hellenic Petroleum: the exchange name became HELLENiQ ENERGY Holdings from 4 October 2022.5
  • Not an oil producer: exploration and production generated no revenue in H1 2026 and the offshore blocks are held with Chevron and ExxonMobil.3
  • No longer a gas-network owner: DEPA Infrastructure was sold in 2022 and the 35% of DEPA Commercial in December 2024.4
Recent developmentsAll company events →
  • Sep 2026A further 46,500 shares bought on 22–25 September raised treasury holdings to 429,083, or 0.14% of capital.10
  • Aug 2026Launched a buyback of up to 1,500,000 shares, 0.491% of capital, with a €30m ceiling.7
  • Jun 2026Chevron takes a 70% operated interest in Block 10, with the group retaining 30%.8
  • Mar 2026Answering the Capital Market Commission, the group said it was replacing the crude cargoes that had transited the Strait of Hormuz.9
  • Feb 2026Signed four offshore lease agreements south of Crete and the Peloponnese, with Chevron as 70% operator.4
  • Jul 2025Acquired the remaining 50% of Elpedison for €183m as reported at FY2025, subject to SPA adjustments, and consolidated it from 15 July.4
Key figures
  • Realised refining margin $22.5/bbl 2Q 20262
  • System benchmark margin $9.5/bbl 2Q 20261
  • Refining sales volume 6,864k t H1 20261
  • Installed capacity, renewables and thermal 1,404 MW H1 20262
  • Service stations in Greece 1,475 H1 20262
Key facts
  • The three refineries at Aspropyrgos, Elefsina and Thessaloniki are about 63% of Greek refining capacity and hold a 60% share of domestic petroleum products.4
  • Net debt was €1,967m and gearing 36% at 30 June 2026, down from €2,360m a year earlier.1
  • The FY2025 dividend was €0.60 a share, a €0.20 interim in January and a €0.40 final paid on 8 July 2026.6
  • The remaining 50% of Elpedison was acquired on 15 July 2025 for €183m reported at FY2025, subject to further SPA adjustments, and the business became Enerwave.4
  • Before the Gulf crisis, 20-25% of the refineries' feedstock came through the Strait of Hormuz.9
Sources
  1. 1.Second Quarter and First Half 2026 ResultsHELLENiQ ENERGY · 05/08/2026official
  2. 2.2Q 2026 results presentationHELLENiQ ENERGY · 05/08/2026official
  3. 3.Half-Yearly Financial Report for the period ended 30 June 2026HELLENiQ ENERGY · 05/08/2026official
  4. 4.Annual Financial Report Financial Year 2025HELLENiQ ENERGY · 26/02/2026official
  5. 5.Amendment of corporate and trade name on the Athens ExchangeHELLENiQ ENERGY · 29/09/2022official
  6. 6.Announcement of dividend payment for financial year 2025HELLENiQ ENERGY · 25/06/2026official
  7. 7.Initiation of a Share Buyback ProgramHELLENiQ ENERGY · 05/08/2026official
  8. 8.Expansion of strategic cooperation with Chevron to Block 10HELLENiQ ENERGY · 16/06/2026official
  9. 9.Response to an inquiry from the Hellenic Capital Market CommissionHELLENiQ ENERGY · 20/03/2026official
  10. 10.Purchase of own shares, 22–25 SeptemberHELLENiQ ENERGY · 28/09/2026official
AI-drafted from the cited sources · 30/09/2026 · v5 · ✓ checked by an independent second modelHELLENiQ ENERGY Holdings S.A.Website ↗
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.