(INW) Infrastrutture Wireless - Overview
Sector: Real Estate | Industry: Real Estate Services | Exchange: MI (Italy) | Market Cap: 6.171m EUR | Total Return: -26.1% in 12m
Avg Turnover: 14.1M
EPS Trend: 85.8%
Qual. Beats: -4
Rev. Trend: 96.9%
Qual. Beats: 1
Warnings
Altman Z'' 0.57 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Infrastrutture Wireless Italiane S.p.A. (INW) is Italy’s primary provider of shared electronic communications infrastructure. The company specializes in the construction and management of physical assets including towers, masts, and poles, which host radio equipment for mobile network operators, fixed wireless access (FWA) providers, and IoT networks. Its portfolio extends to smart infrastructure, such as Distributed Antenna Systems (DAS) and small cells, designed to enhance indoor and outdoor connectivity in high-traffic public and private spaces.
The business operates under a TowerCo model, which generates stable, long-term revenue through multi-year hosting agreements with telecommunications carriers seeking to outsource capital-intensive hardware management. This sector is characterized by high barriers to entry and significant operating leverage, as adding additional tenants to existing towers incurs minimal incremental cost while increasing margins. Beyond traditional hosting, INW integrates renewable energy production and fiber connectivity into its site management to support the evolving technical requirements of 5G deployment.
For a detailed breakdown of the companys valuation metrics and growth trajectory, consider reviewing the latest data on ValueRay. Founded in 2015 and headquartered in Rome, the company serves a diverse client base that includes utility providers, broadcasting services, and public institutions.
- Master Service Agreement inflation linkages drive organic rental revenue growth
- Accelerated 5G rollout increases tenancy ratios across existing tower sites
- Consolidation of Italian mobile network operators reduces long-term hosting demand
- Cost of debt fluctuations impact valuation of capital-intensive infrastructure assets
- Expansion of indoor DAS and small cell coverage diversifies revenue streams
| Net Income: 352.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 0.84 > 1.0 |
| NWC/Revenue: -8.15% < 20% (prev -43.55%; Δ 35.40% < -1%) |
| CFO/TA 0.12 > 3% & CFO 1.15b > Net Income 352.1m |
| Net Debt (523.3m) to EBITDA (972.9m): 0.54 < 3 |
| Current Ratio: 0.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (902.3m) vs 12m ago -0.12% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 11.18% > 50% (prev 11.10%; Δ 0.08% > 0%) |
| Interest Coverage Ratio: 3.85 > 6 (EBITDA TTM 972.9m / Interest Expense TTM 150.1m) |
| A: -0.01 (Total Current Assets 629.9m - Total Current Liabilities 717.5m) / Total Assets 9.79b |
| B: 0.05 (Retained Earnings 442.7m / Total Assets 9.79b) |
| C: 0.06 (EBIT TTM 577.2m / Avg Total Assets 9.61b) |
| D: 0.07 (Book Value of Equity 442.7m / Total Liabilities 6.22b) |
| Altman-Z'' = 0.57 = B |
| DSRI: 1.02 (Receivables 91.5m/87.7m, Revenue 1.08b/1.05b) |
| GMI: 0.99 (GM 97.62% / 96.30%) |
| AQI: 0.95 (AQ_t 0.66 / AQ_t-1 0.70) |
| SGI: 1.03 (Revenue 1.08b / 1.05b) |
| TATA: -0.08 (NI 352.1m - CFO 1.15b) / TA 9.79b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of May 29, 2026, the stock is trading at EUR 6.73 with a total of 2,046,752 shares traded.
Over the past week, the price has changed by -2.53%,
over one month by -0.25%,
over three months by -18.77% and
over the past year by -26.07%.
Infrastrutture Wireless has no consensus analysts rating.
P/E Trailing = 17.9868
P/E Forward = 13.6612
P/S = 5.7404
P/B = 1.7374
P/EG = 2.087
Revenue TTM = 1.08b EUR
EBIT TTM = 577.2m EUR
EBITDA TTM = 972.9m EUR
Long Term Debt = 4.23b EUR (from longTermDebt, last quarter)
Short Term Debt = 273.1m EUR (from shortLongTermDebt, last quarter)
Debt = 905.1m EUR (Leases only: 905.1m)
Net Debt = 523.3m EUR (calculated: Debt 905.1m - CCE 381.8m)
Enterprise Value = 6.69b EUR (6.17b + Debt 905.1m - CCE 381.8m)
Interest Coverage Ratio = 3.85 (Ebit TTM 577.2m / Interest Expense TTM 150.1m)
EV/FCF = 12.32x (Enterprise Value 6.69b / FCF TTM 543.6m)
FCF Yield = 8.12% (FCF TTM 543.6m / Enterprise Value 6.69b)
FCF Margin = 50.56% (FCF TTM 543.6m / Revenue TTM 1.08b)
Net Margin = 32.75% (Net Income TTM 352.1m / Revenue TTM 1.08b)
Gross Margin = unknown ((Revenue TTM 1.08b - Cost of Revenue TTM 25.6m) / Revenue TTM)
Tobins Q-Ratio = 0.68 (Enterprise Value 6.69b / Total Assets 9.79b)
Interest Expense / Debt = 16.58% (Interest Expense 150.1m / Debt 905.1m)
Taxrate = 15.76% (15.2m / 96.2m)
NOPAT = 486.2m (EBIT 577.2m * (1 - 15.76%))
Current Ratio = 0.88 (Total Current Assets 629.9m / Total Current Liabilities 717.5m)
Debt / Equity = 0.25 (Debt 905.1m / totalStockholderEquity, last quarter 3.55b)
Debt / EBITDA = 0.54 (Net Debt 523.3m / EBITDA 972.9m)
Debt / FCF = 0.96 (Net Debt 523.3m / FCF TTM 543.6m)
Total Stockholder Equity = 3.57b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.66% (Net Income 352.1m / Total Assets 9.79b)
RoE = 9.86% (Net Income TTM 352.1m / Total Stockholder Equity 3.57b)
RoCE = 7.40% (EBIT 577.2m / Capital Employed (Equity 3.57b + L.T.Debt 4.23b))
RoIC = 5.39% (NOPAT 486.2m / Invested Capital 9.02b)
WACC = 7.22% (E(6.17b)/V(7.08b) * Re(6.23%) + D(905.1m)/V(7.08b) * Rd(16.58%) * (1-Tc(0.16)))
Discount Rate = 6.23% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -44.23 | Cagr: -0.29%
[DCF] Terminal Value 77.97% ; FCFF base≈504.1m ; Y1≈577.9m ; Y5≈850.5m
[DCF] Fair Price = 13.60 (EV 12.8b - Net Debt 523.3m = Equity 12.3b / Shares 902.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 85.80 | EPS CAGR: 5.93% | SUE: -4.0 | # QB: -4
Revenue Correlation: 96.89 | Revenue CAGR: 6.43% | SUE: 1.29 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.09 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.10 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=0.38 | Chg30d=-8.04% | Revisions=-45% | GrowthEPS=+0.0% | GrowthRev=+0.7%
EPS next Year (2027-12-31): EPS=0.38 | Chg30d=-4.71% | Revisions=-50% | GrowthEPS=-0.7% | GrowthRev=+2.4%
[Analyst] Revisions Ratio: -50%