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Side-by-side financial comparison of Ellomay Capital Ltd. (ELLO) and Metalpha Technology Holding Ltd (MATH). Click either name above to swap in a different company.

Ellomay Capital Ltd. is the larger business by last-quarter revenue ($20.1M vs $12.0M, roughly 1.7× Metalpha Technology Holding Ltd).

Ellomay Capital Ltd is a renewable energy enterprise focused on the development, ownership, and operation of clean power assets. Its portfolio includes solar photovoltaic projects, onshore wind farms, and pumped storage hydroelectric facilities, with core operations across Israel and key European markets, delivering low-carbon energy to both commercial and residential end consumers.

Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.

ELLO vs MATH — Head-to-Head

Bigger by revenue
ELLO
ELLO
1.7× larger
ELLO
$20.1M
$12.0M
MATH

Income Statement — Q2 FY2025 vs Q3 FY2025

Metric
ELLO
ELLO
MATH
MATH
Revenue
$20.1M
$12.0M
Net Profit
$-2.9M
Gross Margin
12.1%
28.3%
Operating Margin
-11.8%
-24.2%
Net Margin
-24.0%
Revenue YoY
-39.0%
Net Profit YoY
-147.7%
EPS (diluted)
$-0.07

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ELLO
ELLO
MATH
MATH
Q3 25
$12.0M
Q2 25
$20.1M
Q1 25
$24.8M
Q3 24
$19.7M
Q2 24
$19.5M
Q2 23
$25.5M
Q2 22
$29.2M
Net Profit
ELLO
ELLO
MATH
MATH
Q3 25
$-2.9M
Q2 25
Q1 25
$9.8M
Q3 24
$6.0M
Q2 24
Q2 23
Q2 22
Gross Margin
ELLO
ELLO
MATH
MATH
Q3 25
28.3%
Q2 25
12.1%
Q1 25
85.7%
Q3 24
49.5%
Q2 24
8.7%
Q2 23
21.1%
Q2 22
27.7%
Operating Margin
ELLO
ELLO
MATH
MATH
Q3 25
-24.2%
Q2 25
-11.8%
Q1 25
39.3%
Q3 24
38.9%
Q2 24
-9.3%
Q2 23
7.1%
Q2 22
9.0%
Net Margin
ELLO
ELLO
MATH
MATH
Q3 25
-24.0%
Q2 25
Q1 25
39.6%
Q3 24
30.7%
Q2 24
Q2 23
Q2 22
EPS (diluted)
ELLO
ELLO
MATH
MATH
Q3 25
$-0.07
Q2 25
Q1 25
$0.25
Q3 24
$0.16
Q2 24
Q2 23
Q2 22

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ELLO
ELLO
MATH
MATH
Cash + ST InvestmentsLiquidity on hand
$54.5M
$10.1M
Total DebtLower is stronger
$101.2K
Stockholders' EquityBook value
$171.5M
$35.1M
Total Assets
$855.5M
$413.8M
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ELLO
ELLO
MATH
MATH
Q3 25
$10.1M
Q2 25
$54.5M
Q1 25
$6.9M
Q3 24
$3.8M
Q2 24
$59.9M
Q2 23
$80.2M
Q2 22
$62.3M
Total Debt
ELLO
ELLO
MATH
MATH
Q3 25
$101.2K
Q2 25
Q1 25
$188.0K
Q3 24
$275.1K
Q2 24
Q2 23
Q2 22
Stockholders' Equity
ELLO
ELLO
MATH
MATH
Q3 25
$35.1M
Q2 25
$171.5M
Q1 25
$36.6M
Q3 24
$25.3M
Q2 24
$136.3M
Q2 23
$129.1M
Q2 22
$85.9M
Total Assets
ELLO
ELLO
MATH
MATH
Q3 25
$413.8M
Q2 25
$855.5M
Q1 25
$246.8M
Q3 24
$237.2M
Q2 24
$678.9M
Q2 23
$656.6M
Q2 22
$596.7M
Debt / Equity
ELLO
ELLO
MATH
MATH
Q3 25
0.00×
Q2 25
Q1 25
0.01×
Q3 24
0.01×
Q2 24
Q2 23
Q2 22

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ELLO
ELLO
MATH
MATH
Operating Cash FlowLast quarter
$5.1K
$3.3M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ELLO
ELLO
MATH
MATH
Q3 25
$3.3M
Q2 25
$5.1K
Q1 25
$16.2M
Q3 24
$-16.1M
Q2 24
$468.0K
Q2 23
$5.3M
Q2 22
$8.0M
Cash Conversion
ELLO
ELLO
MATH
MATH
Q3 25
Q2 25
Q1 25
1.64×
Q3 24
-2.66×
Q2 24
Q2 23
Q2 22

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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