ITRI
ITRON, INC.
Next earnings Jul 29, 2026 (before open) · consensus $1.31 EPS, $577M rev
Last earnings +0.1% on 2026-04-28
$83.87
▲ +1.11%$83.87▼ -34.37%
over 1Y
L $78.02EODHDH $138.42
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.1%
1W+2.6%
1M-1.7%
3M-2.0%
YTD-11.2%
1Y-34.4%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 20 analysts
Buy
IIoT utility play at 12.6x earnings with surging FCF, deleveraging balance sheet, and recurring-revenue Outcomes/Resiliency tailwinds.
The read
Quality fundamentals and an attractive price line up (~99% below fair value) — the rarer case where both the business and the entry look good.
Itron is a smart-grid/IIoT pure-play whose financial quality is improving faster than the headline revenue line suggests. FY2025 revenue dipped 3.0% to $2.37B, but every profitability metric moved the right way: gross profit grew 6.3% to $892M (37.7% margin), operating income jumped 18.5% to $313M, and net income rose 25.9% to $301M ($6.50 diluted EPS). Operating cash flow surged 70.4% to $406M against just $22.9M of capex — this is a capital-light software/network business inside a hardware wrapper, and the cash conversion proves it.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.98B | $1.80B | $2.17B | $2.44B | $2.37B |
| Gross profit | $573M | $522M | $714M | $839M | $892M |
| Operating income | -$79.3M | -$7.44M | $129M | $264M | $313M |
| Net income | -$81.3M | -$9.73M | $96.9M | $239M | $301M |
| Diluted EPS | -$1.83 | -$0.22 | $2.11 | $5.18 | $6.50 |
| Net margin | -4.1% | -0.5% | 4.5% | 9.8% | 12.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$4.00B
EV / EBITDA11.0
EV / Sales1.7
EV / FCF10.4
P / FCF9.8
PEG (trailing)0.50
Earnings yield8.0%
FCF yield10.2%
Quality & risk
ROIC (est.)8.3%
Free cash flow$383M
Total debt$1.25B
Net cash-$228M
Altman Z-Score2.36 grey
Piotroski F-Score7/9
Capital returns
Buyback yield2.7%
Dividend yield (est.)—
Shareholder yield2.7%
Shares Δ YoY-0.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-08
Annual meeting vote results disclosed; routine governance update
- 8-K/A Amended 8-K2026-05-01
Amendment to prior 8-K; supplemental disclosure, no new substantive change
- 8-K Earnings results2026-04-28
Q1 2026 10-Q filed; continues FY25 margin expansion and cash generation
- 10-Q Quarterly report2026-04-28
Q1 2026 10-Q filed; continues FY25 margin expansion and cash generation
- 8-K Other event2026-04-24
Other event disclosure; no material financial impact flagged
- DEF 14A Proxy statement2026-03-23
2026 proxy: routine director/auditor/say-on-pay matters
- 8-K Material agreement2026-02-26
New debt agreement + unregistered equity issuance signals refi/financing event
- 8-K Earnings results2026-02-17
FY25 10-K: rev -3% to $2.37B but net income +26%, debt cut 37%, new Resiliency segment
- 10-K Annual report2026-02-17
FY25 10-K: rev -3% to $2.37B but net income +26%, debt cut 37%, new Resiliency segment
Recent filings
all on EDGAR ↗4Period ending 2026-06-032026-06-04open ↗144Filing2026-06-03open ↗4Period ending 2026-05-272026-05-28open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-262026-05-27open ↗144Filing2026-05-27open ↗
Frequently asked
- Is ITRON, INC. (ITRI) a buy?
- ITRI currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. IIoT utility play at 12.6x earnings with surging FCF, deleveraging balance sheet, and recurring-revenue Outcomes/Resiliency tailwinds.
- What is ITRI's fair value?
- A Modified-Graham model based on ITRI's SEC fundamentals estimates a fair value of about $166.85. It is an estimate from reported earnings, not a price target.
- Is ITRI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, ITRI currently appears undervalued relative to its SEC-grounded earnings power.
- What is ITRON, INC.'s quality score?
- ITRI scores 75.13725490196077/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000780571, latest 10-Q filed 2026-04-28) · EODHD · analysis by claude-code · as of 6/25/2026, 1:23:39 PM.
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