WinstonWınston
Stock

Voltalia S.A.

VLTSA.PA
29
Renewable Utilities · Utilities
Also trades as: 0QW7.L GBP 0.05 (+6.41%)
Price
€4.68
+0.22 (+4.93%)
Market Cap
€612.8M
Exchange
Euronext Paris
Winston Score
29
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
11/30
Growth
Mixed
6/20
Cash Flow
Weak
0/10
Stability
Weak
1/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

28 of 95 counted points = Winston Score 29. Pillars marked n/a do not apply to this company and are left out of the total.

Share count rising — dilution

+29.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 101.6M (2021) → 131.3M (2025)

§Winston Score History

The full picture

Voltalia is a French company that builds and runs power plants using renewable energy sources like solar, wind, and hydropower. It sells electricity to governments, businesses, and utilities that need clean power. The company also helps other organizations build their own renewable energy projects, acting as a contractor and service provider in the clean energy industry.

Voltalia earns money by selling electricity under long-term contracts, which provide steady and predictable revenue, and by charging fees for building and managing energy projects for third-party clients. It operates across Europe, Latin America, and Africa, giving it a geographically diverse footprint that is unusual for a company of its size, with a market cap around $1.1 billion. However, its negative operating margin shows it is spending more than it earns right now, and the key risk is whether it can grow its installed capacity fast enough to turn those thin margins into consistent profits.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+28.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-10.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

71.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

€400M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Voltalia S.A. grew revenue 29% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
42.0%
Healthy — 42.0% gross margin
Profit after running costs
Operating Margin
9.4%
Modest — 9.4% operating margin
Return on the money invested
ROCE
0.4%
Weak — 0.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+19.3%
Fast-growing sales (+19.3% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-31.3%
Burning cash (-31.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
2.65
Heavy debt load (2.65)
Covers its interest
Interest Cover
0.08x
Dangerous — barely covers interest (0.1x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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