Loading…
Italian laser technology group making medical/aesthetic lasers, industrial cutting/marking lasers, and lasers for art restoration.
Italian laser technology group making medical/aesthetic lasers, industrial cutting/marking lasers, and lasers for art restoration.
Medical and aesthetic lasers, sold to clinics and distributors worldwide, are the larger part of sales, with industrial cutting and marking lasers following the manufacturing cycle. The group has grown by building up many small specialist subsidiaries.
In one line: A diversified Italian laser maker, like a smaller Coherent.
Moat: narrow (IP / patents, process know-how). Proprietary laser source technology and decades of niche application know-how.
Headquarters: Calenzano, Italy · Founded: 1981 · Employees: 1,412
Size El.En (ELN.MI) is an Italy Health Care company (Medical Specialties) with a market value of $1.44B, the 70th largest of 123 Italy companies the cockpit tracks. Shares closed at €15.96 on 6 Nov 2026.
Performance Over six months the shares gained 11.0%, against -5.5% for the median peer and +3.1% for the Italy market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 2.5% over the last twelve months (peer median +10.4%); the operating margin is 15.3% (peer median 7.0%).
Valuation It trades at 21.8× forward earnings against a peer median of 24.4× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.4 points above its cost of capital (11.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €552M | €591M | €566M | €576M | €674M |
| Revenue growth | — | +4% | -2% | -14% | — |
| Gross profit | €147M | €142M | €135M | €138M | €143M |
| EBITDA | €94.8M | €84.8M | €84.4M | €85.5M | €87.2M |
| Net income | €51.6M | €43.4M | €51.6M | €48.2M | €55.1M |
| Free cash flow | €79.7M | €60.1M | €75.0M | -€323,870 | -€15.3M |
| Capital expenditure | €12.9M | €11.6M | €9.46M | €13.7M | €18.4M |
| Total debt | n/a | €38.1M | €46.7M | €73.6M | €69.7M |
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 |
|---|---|---|---|---|---|---|
| El.En ELN.MI | $1.44B | +11% | +3% | 15% | 21.8× | 9.8% |
| IPG Photonics IPGP | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% |
| Lumibird LBIRD.PA | $589M | -4% | +8% | 11% | 26.9× | 18.6% |
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 | ELN.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +5.2% | 9th lowest of 21 |
| 6-month return | +11.0% | -5.5% | 7th highest of 20 |
| Distance from 52-week high | -9.5% | -26.4% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.5% | +10.4% | 7th lowest of 20 |
| Operating margin | 15.3% | 7.0% | 10th highest of 20 |
| Forward P/E | 21.8× | 24.4× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 9.8% | 10.8% | 4th least demanding of 12 |
| Growth delivered (Del g) | +7.7% | +19.7% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | +2.1 pp | -5.4 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | +11.4 pp | +0.9 pp | 3rd highest of 20 |
| EV / EBITDA | 11.8× | 13.0× | 5th cheapest of 9 |
| Net debt / EBITDA | -1.9× | 0.8× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| El.En ELN.MI | Italy | $1.44B | +11% | +3% | 15% | 21.8× | 9.8% | +7.7% |
| Suzhou Sepax Technologies 688758.SS | China | $1.45B | +19% | +28% | 40% | 50.8× | 24.7% | +23.6% |
| Ovctek China 300595.SZ | China | $1.42B | -26% | 0% | 28% | 20.8× | 9.9% | +16.5% |
| Nakanishi 7716.T | Japan | $1.42B | +8% | +15% | 19% | 16.3× | 2.2% | +19.7% |
| Sonoscape Medical 300633.SZ | China | $1.42B | -8% | +18% | 4% | 36.8× | n/a | n/a |
| Beijing Balance Medical Technology 688198.SS | China | $1.47B | -26% | +10% | 28% | 46.6× | 22.6% | +27.6% |
| Sansure Biotech 688289.SS | China | $1.36B | -8% | -1% | 1% | 39.0× | n/a | n/a |
| CONMED CNMD | United States | $1.53B | +40% | +2% | 2% | 11.1× | 32.4% | +9.8% |
| NovoCure NVCR | United States | $1.55B | -26% | +13% | -17% | n/a | n/a | n/a |
| NIPRO 8086.T | Japan | $1.55B | -9% | +3% | 6% | 14.9× | n/a | n/a |
| Enovis ENOV | United States | $1.57B | +2% | +5% | 3% | 7.7× | 22.3% | -6.0% |
| Sinocare 300298.SZ | China | $1.58B | +15% | +7% | 6% | 23.6× | 10.8% | +18.3% |
| Shenzhen Edge Medical 2675.HK | Hong Kong | $1.31B | -51% | +132% | 2% | 130.1× | n/a | n/a |
| Shanghai MicroPort Endovascular MedTech 688016.SS | China | $1.59B | -14% | +16% | 44% | 17.2× | 3.1% | +23.4% |
| Nihon Kohden 6849.T | Japan | $1.63B | +8% | +1% | 7% | 17.6× | -2.1% | +3.3% |
| Vitrolife VITR.ST | Sweden | $1.63B | +14% | -2% | 19% | 27.6× | 22.0% | +22.5% |
| Molbio Diagnostics MOLBIO.NS | India | $1.63B | n/a | +35% | 17% | n/a | n/a | n/a |
| Alpha Tau Medical DRTS | United States | $1.27B | +61% | n/a | n/a | n/a | n/a | n/a |
| Eyebright Medical Technology (Beijing) 688050.SS | China | $1.27B | -15% | +21% | 16% | 25.2× | 10.8% | +40.3% |
| STAAR Surgical STAA | United States | $1.26B | -6% | +51% | 18% | 45.8× | n/a | n/a |
| Guangzhou Hexin Instrument 688622.SS | China | $1.26B | +58% | -29% | -74% | n/a | n/a | n/a |