INW Stock Analysis: Infrastrutture Wireless | MI
Real Estate Services | MI, Italy | Market Cap: 6.561m EUR | 12M Return: -16.4% | IT0005090300 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 15.0M
EPS Trend: 50.2%
Qual. Beats: 0
Rev. Trend: 95.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Infrastrutture Wireless Italiane S.p.A. (INW) is an Italian electronic communications infrastructure operator that builds and manages digital and shared assets supporting mobile, fixed wireless access (FWA), and IoT services. Its portfolio spans tower infrastructure (towers, poles, masts, fibre, and land), smart infrastructure (DAS, small cells, repeaters), and real estate assets tied to renewable energy production. The company also offers indoor and outdoor coverage solutions, hosting, and connectivity services to mobile and FWA operators, broadcasters, utilities, and public institutions.
Founded in 2015 and headquartered in Rome, INW functions as a tower company, or towerco, monetising passive infrastructure through long-term lease arrangements with multiple tenants on a single site, a model that typically supports recurring, contract-based revenues. Although classified under Real Estate Operating Companies in the GICS framework, its revenue drivers are linked to wireless and broadband demand rather than traditional property leasing.
- Italian 5G rollout drives tower leasing demand
- Telecom operator consolidation reduces anchor tenant count
- Energy costs pressure tower site margins across Italy
- DAS and small cell expansion boosts smart infrastructure revenue
| Net Income: 337.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 1.10 > 1.0 |
| NWC/Revenue: -47.13% < 20% (prev -12.58%; Δ -34.55% < -1%) |
| CFO/TA 0.09 > 3% & CFO 806.4m > Net Income 337.3m |
| Net Debt (6.35b) to EBITDA (970.1m): 6.54 < 3 |
| Current Ratio: 0.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (904.2m) vs 12m ago -3.02% < -2% |
| Gross Margin: 79.00% > 18% (prev 87.58%; Δ -8.58% > 0.5%) |
| Asset Turnover: 11.34% > 50% (prev 11.17%; Δ 0.16% > 0%) |
| Interest Coverage Ratio: 3.47 > 6 (EBIT TTM 568.8m / Interest Expense TTM 163.9m) |
| A: -0.05 (Total Current Assets 297.8m - Total Current Liabilities 803.5m) / Total Assets 9.45b |
| B: 0.02 (Retained Earnings 161.1m / Total Assets 9.45b) |
| C: 0.06 (EBIT TTM 568.8m / Avg Total Assets 9.47b) |
| D: 0.50 (Book Value of Equity 3.13b / Total Liabilities 6.31b) |
| Altman-Z'' = 0.63 = B |
| DSRI: 0.92 (Receivables 184.8m/197.7m, Revenue 1.07b/1.06b) |
| GMI: 1.11 (GM 87.58% / 79.00%) |
| AQI: 1.17 (AQ_t 0.81 / AQ_t-1 0.70) |
| SGI: 1.01 (Revenue 1.07b / 1.06b) |
| TATA: -0.05 (NI 337.3m - CFO 806.4m) / TA 9.45b) |
| Beneish M = -2.89 (Cap -4..+1) = A |
As of October 17, 2026, the stock is trading at EUR 7.26 with a total of 1,760,246 shares traded. Over the past week, the price has changed by +3.27%, over one month by +10.09%, over three months by +16.27% and over the past year by -16.44%.
Current recommended Stop Loss: 6.90 (which is 5% or 1.7 ATR below the current price).
Infrastrutture Wireless has no consensus analysts rating.
P/E Trailing = 19.6487
P/E Forward = 14.6413
P/S = 6.1148
P/B = 1.9002
P/EG = 2.2358
Revenue TTM = 1.07b EUR
EBIT TTM = 568.8m EUR
EBITDA TTM = 970.1m EUR
Long Term Debt = 4.23b EUR (from longTermDebt, last quarter)
Short Term Debt = 506.0m EUR (from shortTermDebt, last quarter)
Debt = 6.45b EUR (from shortLongTermDebtTotal, last quarter) + Leases 894.6m
Net Debt = 6.35b EUR (calculated: Debt 6.45b - CCE 98.0m)
Enterprise Value = 12.9b EUR (6.56b + Debt 6.45b - CCE 98.0m)
Interest Coverage Ratio = 3.47 (Ebit TTM 568.8m / Interest Expense TTM 163.9m)
EV/FCF = 22.26x (Enterprise Value 12.9b / FCF TTM 580.0m)
FCF Yield = 4.49% (FCF TTM 580.0m / Enterprise Value 12.9b)
FCF Margin = 54.05% (FCF TTM 580.0m / Revenue TTM 1.07b)
Net Margin = 31.43% (Net Income TTM 337.3m / Revenue TTM 1.07b)
Gross Margin = 79.00% ((Revenue TTM 1.07b - Cost of Revenue TTM 225.3m) / Revenue TTM)
Gross Margin QoQ = 57.16% (prev 56.55%)
Tobins Q-Ratio = 1.37 (Enterprise Value 12.9b / Total Assets 9.45b)
Interest Expense / Debt = 2.54% (Interest Expense 163.9m / Debt 6.45b)
Taxrate = 16.82% (68.0m / 404.5m)
NOPAT = 473.1m (EBIT 568.8m * (1 - 16.82%))
Current Ratio = 0.37 (Total Current Assets 297.8m / Total Current Liabilities 803.5m)
Debt / Equity = 2.06 (Debt 6.45b / totalStockholderEquity, last quarter 3.13b)
Debt / EBITDA = 6.54 (Net Debt 6.35b / EBITDA 970.1m)
Debt / FCF = 10.95 (Net Debt 6.35b / FCF TTM 580.0m)
Total Stockholder Equity = 3.43b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.56% (Net Income 337.3m / Total Assets 9.45b)
RoE = 9.82% (Net Income TTM 337.3m / Total Stockholder Equity 3.43b)
RoCE = 7.42% (EBIT 568.8m / Capital Employed (Equity 3.43b + L.T.Debt 4.23b))
RoIC = 5.20% (NOPAT 473.1m / Invested Capital 9.10b)
WACC = 3.90% (E(6.56b)/V(13.0b) * Re(5.65%) + D(6.45b)/V(13.0b) * Rd(2.54%) * (1-Tc(0.17)))
Discount Rate = 5.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.18 | Cagr: -1.96%
[DCF] Terminal Value 77.97% ; FCFF base≈539.3m ; Y1≈618.2m ; Y5≈909.9m
[DCF] Fair Price = 8.14 (EV 13.7b - Net Debt 6.35b = Equity 7.34b / Shares 902.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 50.21 | EPS CAGR: 1.86% | SUE: 0.0 | # QB: 0
Revenue Correlation: 95.28 | Revenue CAGR: 5.25% | SUE: 0.58 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.10 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.39 | Chg30d=+3.16% | Revisions=-50% | GrowthEPS=-1.4% | GrowthRev=-0.1%
EPS next Year (2027-12-31): EPS=0.36 | Chg30d=-0.31% | Revisions=-40% | GrowthEPS=-8.5% | GrowthRev=+2.1%
[Analyst] Revisions Ratio: -62% (up=0, down=5)