A Business at a Glance
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ITRON, INC.
ITRI
$3.9B
Mkt Cap
$84.22
+0.35%
ITRON, INC. (ITRI) has a current P/E ratio of 13.0, compared to its historical median P/E of 41.7. The stock is currently considered Cheap based on its historical valuation range.
ITRON, INC. (ITRI) has a 5-year average return on invested capital (ROIC) of 6.3%. This is below average and may indicate limited pricing power.
ITRON, INC. (ITRI) has a market capitalization of $3.7B. It is classified as a mid-cap stock.
ITRON, INC. (ITRI) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 5.36%.
Based on historical P/E analysis, ITRON, INC. (ITRI) appears cheap. The current P/E of 13.0 is 69% below its historical median of 41.7. The estimated fair value CAGR (P/E method) is 47.3%.
ITRON, INC. (ITRI) operates in the Instruments For Meas & Testing Of Electricity & Elec Signals industry, within the Technology sector.
ITRON, INC. (ITRI) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Item 1: Business Available Information Documents we provide to the Securities and Exchange Commission (SEC) are available free of charge under the Investors section of our website at www.itron.com as soon as practicable after they are filed with or furnished to the SEC. In addition, these documents are available at the SEC's website (http://www.sec.gov). The information posted on or accessible through our website is not part of or incorporated by reference into this Annual Report. Itron is a global leader in grid edge intelligence, energy and water management, smart city applications, Industrial Internet of Things (IIoT) and critical infrastructure and related services. Our intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable, and affordable service. With edge intelligence, we connect people, data insights, and devices so communities can better manage the essential resources they rely on.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.4B | 2.4B | 2.2B | 1.8B | 2.0B |
| Net Income | 289M | 301M | 239M | 97M | -9.7M | -81M |
| EPS | $6.40 | $6.50 | $5.18 | $2.11 | $-0.22 | $-1.83 |
| Free Cash Flow | 395M | 383M | 208M | 98M | 4.8M | 120M |
| ROIC | 11.0% | 15.6% | 14.5% | 6.8% | -0.6% | -4.9% |
| Gross Margin | 38.8% | 37.7% | 34.4% | 32.8% | 29.1% | 28.9% |
| Debt/Equity | 0.98 | 0.75 | 0.92 | 0.38 | 0.44 | 0.47 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 304M | 313M | 264M | 129M | -7.4M | -79M |
| Operating Margin | 13.0% | 13.2% | 10.8% | 5.9% | -0.4% | -4.0% |
| ROE | 18.0% | 19.4% | 17.7% | 7.8% | -0.9% | -8.4% |
| Shares Outstanding | 44M | 46M | 46M | 46M | 44M | 44M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.9B | 1.9B | 2.0B | 2.0B | 2.4B | 2.5B | 2.2B | 2.0B | 1.8B | 2.2B | 2.4B | 2.4B | 2.3B |
| Gross Margin | 31.5% | 29.6% | 32.9% | 33.5% | 30.7% | 30.1% | 27.7% | 28.9% | 29.1% | 32.8% | 34.4% | 37.7% | 38.8% |
| R&D | 176M | 162M | 168M | 169M | 208M | 202M | 194M | 197M | 185M | 209M | 215M | 207M | 212M |
| SG&A | 162M | 156M | 320M | 325M | 423M | 347M | 277M | 301M | 290M | 313M | 339M | 353M | 371M |
| EBIT | N/A | 53M | 101M | 155M | -50M | 133M | -10M | -79M | -7.4M | 129M | 264M | 313M | 304M |
| Op. Margin | N/A | 2.8% | 5.0% | 7.7% | -2.1% | 5.3% | -0.5% | -4.0% | -0.4% | 5.9% | 10.8% | 13.2% | 13.0% |
| Net Income | -24M | 13M | 32M | 57M | -99M | 49M | -58M | -81M | -9.7M | 97M | 239M | 301M | 289M |
| Net Margin | -1.2% | 0.7% | 1.6% | 2.8% | -4.2% | 2.0% | -2.7% | -4.1% | -0.5% | 4.5% | 9.8% | 12.7% | 12.3% |
| Non-Recurring | 49M | 7.3M | 56M | 7.8M | 78M | 10.0M | -23M | -9.7M | 49M | 43M | 2.1M | 853K | 1.9M |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 3.8% | 7.0% | 10.1% | -6.4% | 5.9% | -0.7% | -4.9% | -0.6% | 6.8% | 14.5% | 15.6% | 11.0% |
| ROE | -3.1% | 2.0% | 5.1% | 8.1% | -13.2% | 6.6% | -7.3% | -8.4% | -0.9% | 7.8% | 17.7% | 19.4% | 18.0% |
| ROA | -1.3% | 0.7% | 2.0% | 3.1% | -4.2% | 1.8% | -2.2% | -3.2% | -0.4% | 3.9% | 8.0% | 8.4% | 7.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 133M | 73M | 116M | 191M | 110M | 173M | 110M | 155M | 25M | 125M | 238M | 406M | 419M |
| Free Cash Flow | 88M | 29M | 72M | 142M | 50M | 112M | 63M | 120M | 4.8M | 98M | 208M | 383M | 395M |
| Owner Earnings | 17M | -17M | 29M | 107M | -44M | 31M | -13M | 47M | -64M | 41M | 138M | 294M | 297M |
| CapEx | 44M | 44M | 44M | 49M | 60M | 61M | 46M | 35M | 20M | 27M | 31M | 23M | 25M |
| Maint. CapEx | 98M | 76M | 68M | 63M | 122M | 114M | 97M | 84M | 67M | 56M | 56M | 50M | 56M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 98M | 76M | 68M | 63M | 122M | 114M | 97M | 84M | 67M | 56M | 56M | 50M | 56M |
| CapEx/OCF | 33.5% | 59.9% | 37.6% | 25.9% | 54.6% | 35.1% | 42.2% | 22.4% | 80.6% | 21.5% | 12.8% | 5.6% | 5.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 40M | 38M | 0 | 0 | 0 | 25M | 0 | 8.0M | 17M | 0 | 100M | 100M | 200M |
| Buyback Yield | 2.3% | 2.7% | N/A | N/A | N/A | 0.7% | N/A | 0.3% | 0.8% | N/A | 2.0% | 2.2% | 5.4% |
| Stock-Based Comp | 18M | 14M | 18M | 21M | 31M | 27M | 25M | 24M | 22M | 28M | 44M | 62M | 66M |
| Debt Repayment | 102M | 63M | 79M | 29M | 363M | 138M | 414M | 946M | 0 | 0 | 22M | 2.2M | 2.2M |
| Balance Sheet | |||||||||||||
| Net Debt | 212M | 739M | 171M | 437M | 894M | 869M | 797M | 362M | 311M | 200M | 231M | 263M | 861M |
| Cash & Equiv. | 112M | 131M | 134M | 176M | 122M | 150M | 207M | 163M | 202M | 302M | 1.1B | 1.0B | 713M |
| Long-Term Debt | 294M | 359M | 290M | 594M | 988M | 932M | 903M | 450M | 453M | 455M | 1.2B | 789M | 1.6B |
| Debt/Equity | 0.48 | 1.44 | 0.48 | 0.78 | 1.43 | 1.31 | 1.23 | 0.47 | 0.44 | 0.38 | 0.92 | 0.75 | 0.98 |
| Interest Coverage | N/A | 4.3 | 7.5 | 11.2 | -0.9 | 2.5 | -0.2 | -2.8 | -1.1 | 15.4 | 17.2 | 13.9 | 13.9 |
| Equity | 681M | 605M | 632M | 786M | 713M | 777M | 817M | 1.1B | 1.2B | 1.3B | 1.4B | 1.7B | 1.6B |
| Total Assets | 1.8B | 1.7B | 1.6B | 2.1B | 2.6B | 2.7B | 2.6B | 2.4B | 2.4B | 2.6B | 3.4B | 3.7B | 4.0B |
| Total Liabilities | 1.1B | 1.1B | 927M | 1.3B | 1.9B | 1.9B | 1.8B | 1.3B | 1.2B | 1.3B | 2.0B | 2.0B | 2.3B |
| Intangibles | 140M | 102M | 72M | 95M | 258M | 185M | 133M | 93M | 65M | 46M | 43M | 83M | 277M |
| Retained Earnings | -454M | -441M | -410M | -338M | -425M | -376M | -434M | -516M | -525M | -428M | -189M | 112M | 165M |
| Working Capital | 262M | 281M | 319M | 342M | 243M | 326M | 380M | 249M | 331M | 512M | 1.3B | 810M | 951M |
| Current Assets | 782M | 759M | 732M | 850M | 896M | 997M | 930M | 750M | 830M | 1.0B | 1.8B | 1.8B | 1.5B |
| Current Liabilities | 520M | 478M | 413M | 508M | 653M | 671M | 550M | 501M | 499M | 537M | 528M | 1.0B | 574M |
| Per Share Data | |||||||||||||
| EPS | -0.60 | 0.33 | 0.82 | 1.45 | -2.53 | 1.23 | -1.44 | -1.83 | -0.22 | 2.11 | 5.18 | 6.50 | 6.40 |
| Owner EPS | 0.43 | -0.44 | 0.76 | 2.70 | -1.12 | 0.79 | -0.32 | 1.06 | -1.45 | 0.89 | 2.99 | 6.35 | 6.71 |
| Book Value | 17.26 | 15.74 | 16.30 | 19.90 | 18.17 | 19.49 | 20.29 | 25.14 | 26.41 | 28.54 | 30.13 | 37.06 | 36.26 |
| Cash Flow/Share | 3.37 | 1.91 | 2.99 | 4.84 | 2.80 | 4.34 | 2.72 | 3.49 | 0.55 | 2.72 | 5.16 | 8.76 | 7.78 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 39.5M | 38.4M | 38.7M | 39.5M | 39.2M | 39.8M | 40.2M | 44.4M | 44.2M | 45.9M | 46.2M | 46.3M | 44.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 110.1 | 77.5 | 47.2 | N/A | 68.1 | N/A | N/A | N/A | 36.2 | 21.1 | 14.8 | 13.2 |
| P/FCF | 19.3 | 47.4 | 34.1 | 19.1 | 37.0 | 29.8 | 61.6 | 24.8 | 458.6 | 35.8 | 24.3 | 11.7 | 9.5 |
| EV/EBIT | N/A | 28.7 | 26.1 | 19.3 | N/A | 29.9 | N/A | N/A | N/A | 26.1 | 15.8 | 13.2 | 15.1 |
| Price/Book | 2.5 | 2.3 | 3.9 | 3.4 | 2.6 | 4.3 | 4.8 | 2.7 | 1.9 | 2.7 | 3.6 | 2.6 | 2.3 |
| Price/Sales | 0.8 | 0.7 | 9.9 | 1.3 | 1.0 | 1.0 | 1.3 | 2.0 | 1.3 | 1.3 | 1.9 | 2.2 | 1.6 |
| FCF Yield | 5.2% | 2.1% | 2.9% | 5.2% | 2.7% | 3.4% | 1.6% | 4.0% | 0.2% | 2.8% | 4.1% | 8.6% | 10.6% |
| Market Cap | 1.7B | 1.4B | 2.5B | 2.7B | 1.8B | 3.3B | 3.9B | 3.0B | 2.2B | 3.5B | 5.0B | 4.5B | 3.7B |
| Avg. Price | 38.97 | 35.06 | 46.66 | 67.92 | 62.75 | 63.52 | 69.83 | 87.11 | 51.44 | 62.86 | 98.55 | 113.83 | 84.22 |
| Year-End Price | 43.35 | 36.34 | 63.55 | 68.45 | 47.03 | 83.76 | 96.86 | 67.07 | 49.27 | 76.37 | 109.19 | 96.46 | 84.22 |
ITRON, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
ITRON, INC. trades at 13.0x trailing earnings, compared to its 15-year median P/E of 41.7x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 9.9x vs a median of 29.8x. The company's 5-year average ROIC is 6.3% with a gross margin of 32.6%. Total shareholder yield (buybacks) is 5.4%. At current prices, the estimated annualized return to fair value is +8.3%.
ITRON, INC. (ITRI) has a net profit margin of 12.7%. This is a healthy margin.
ITRON, INC. (ITRI) generated $383 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ITRON, INC. (ITRI) has a debt-to-equity ratio of 0.75. This indicates moderate leverage.
ITRON, INC. (ITRI) reported earnings per share (EPS) of $6.50 in its most recent fiscal year.
ITRON, INC. (ITRI) has a return on equity (ROE) of 19.4%. This indicates the company generates strong returns for shareholders.
ITRON, INC. (ITRI) has a 5-year average gross margin of 32.6%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for ITRON, INC. (ITRI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ITRON, INC. (ITRI) has a book value per share of $37.06, based on its most recent annual SEC filing.