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Spanish manufacturer of electrical grid equipment (transformers, protection and control systems) for power utilities.
Spanish manufacturer of electrical grid equipment (transformers, protection and control systems) for power utilities.
Sells equipment to utilities and substation builders on order, with long certification periods that make it a trusted supplier once approved. Most sales are outside Spain. Based in the Basque Country.
In one line: A smaller, Spanish grid-equipment maker akin to Hitachi Energy's transformer business.
Moat: narrow (process know-how, customer qualification). Utility-grade equipment requires certification and long qualification cycles, favoring incumbents.
Headquarters: Mungia, Spain · Founded: 1946 · Employees: 2,857
Size Arteche Lantegi Elkartea (ART.MC) is a Spain Industrials company (Wholesale Distributors) with a market value of $1.77B, the 56th largest of 97 Spain companies the cockpit tracks. Shares closed at €27.10 on 6 Nov 2026.
Performance Over six months the shares fell 36.2%, against +5.0% for the median peer and +8.2% for the Spain market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +3.6%); the operating margin is 14.1% (peer median 6.7%).
Valuation It trades at 25.2× forward earnings against a peer median of 16.2× (5th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.8 points above its cost of capital (6.9% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €530M | €508M | €447M | €401M | €346M |
| Revenue growth | — | +14% | +12% | +16% | — |
| Gross profit | €142M | €127M | €98.5M | €77.4M | €57.3M |
| EBITDA | €92.4M | €81.8M | €54.6M | €40.5M | €26.0M |
| Net income | €55.9M | €45.3M | €18.9M | €12.1M | €7.69M |
| Free cash flow | €41.8M | €36.0M | €30.0M | €23.8M | €14.6M |
| Capital expenditure | €37.9M | €28.2M | €20.7M | €16.1M | €14.0M |
| Total debt | n/a | €142M | €116M | €104M | €107M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Arteche Lantegi Elkartea ART.MC | $1.77B | -36% | +11% | 14% | 25.2× | 7.2% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| GE Aerospace GE | $334B | +9% | +20% | 18% | 36.4× | 27.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ART.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.0% | +0.9% | 3rd lowest of 21 |
| 6-month return | -36.2% | +5.0% | 4th lowest of 21 |
| Distance from 52-week high | -41.1% | -22.7% | 6th lowest of 21 |
| Revenue growth (TTM) | +10.7% | +3.6% | 5th highest of 21 |
| Operating margin | 14.1% | 6.7% | 4th highest of 19 |
| Forward P/E | 25.2× | 16.2× | 5th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 7.2% | 4.3% | 7th most demanding of 18 |
| Growth delivered (Del g) | +13.9% | +4.5% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -6.7 pp | -6.2 pp | 9th least demanding of 18 |
| ROIC minus cost of capital | +14.8 pp | +0.3 pp | 2nd highest of 18 |
| EV / EBITDA | 18.0× | 10.4× | 2nd most expensive of 10 |
| Net debt / EBITDA | 0.9× | 1.5× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Arteche Lantegi Elkartea ART.MC | Spain | $1.77B | -36% | +11% | 14% | 25.2× | 7.2% | +13.9% |
| AGTech 8279.HK | Hong Kong | $1.78B | +109% | +24% | 8% | n/a | -14.9% | +36.3% |
| Anhui Xinhua Media 601801.SS | China | $1.72B | -3% | -16% | 4% | 13.6× | n/a | n/a |
| Norinco International Cooperation 000065.SZ | China | $1.72B | -23% | -21% | 9% | 13.5× | -5.1% | +1.1% |
| Happinet 7552.T | Japan | $1.82B | +133% | +19% | 3% | 16.2× | -4.1% | +11.1% |
| Inaba Denkisangyo 9934.T | Japan | $1.82B | -4% | +15% | 8% | n/a | -11.9% | +8.5% |
| Tibet Huayu Mining 601020.SS | China | $1.83B | -48% | -22% | 23% | n/a | n/a | n/a |
| Pengxin International Mining 600490.SS | China | $1.85B | -32% | -20% | n/a | n/a | 6.6% | -17.2% |
| Jiangxi Tungsten Rare and Precious Equipment 600397.SS | China | $1.86B | -13% | -92% | n/a | 156.9× | n/a | n/a |
| Travis Perkins TPK.L | United Kingdom | $1.86B | +28% | 0% | 3% | 23.2× | 8.5% | +4.3% |
| ARE 5857.T | Japan | $1.89B | +1% | +38% | 7% | 9.3× | 2.0% | +29.4% |
| Dalrymple Bay Infrastructure DBI.AX | Australia | $1.92B | +6% | +11% | 29% | 26.2× | 7.8% | +104.8% |
| Distribution Solutions DSGR | United States | $1.62B | +27% | +6% | 4% | 40.9× | 15.5% | +41.3% |
| Hillman Solutions HLMN | United States | $1.62B | +6% | +6% | 6% | 13.3× | 17.9% | +2.6% |
| BIC Cameras 3048.T | Japan | $1.94B | +10% | +7% | 4% | 15.2× | -8.2% | +4.5% |
| Currys CURY.L | United Kingdom | $1.97B | +16% | +6% | 2% | 10.4× | 4.3% | -2.2% |
| Xinjiang Zhongtai Chemical 002092.SZ | China | $1.57B | -41% | +7% | 3% | 25.4× | -4.2% | -19.5% |
| Shanghai Xinhua Media 600825.SS | China | $2.03B | +118% | +1% | -1% | n/a | 44.5% | +2.3% |
| Electrolux Professional EPRO-B.ST | Sweden | $1.52B | +20% | -4% | 10% | 16.2× | 4.9% | +10.9% |
| ZheJiang Dong Ri 600113.SS | China | $1.48B | -46% | -1% | 16% | n/a | 38.5% | +7.6% |
| Mitani 8066.T | Japan | $1.45B | +4% | +1% | 10% | n/a | -12.2% | -3.1% |