IRE Stock Analysis: Iren | MI
Utilities - Diversified | MI, Italy | Market Cap: 3.298m EUR | 12M Return: 7.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.82M
EPS Trend: 88.0%
Rev. Trend: -16.3%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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.
Iren SpA is an Italian multi-utility company headquartered in Reggio Emilia, operating across five segments: Networks, Waste Management, Energy, Market, and Other Services. The company generates and distributes electricity primarily from hydroelectric, thermoelectric, cogeneration, and renewable sources, and distributes natural gas through extensive pipeline infrastructure. It also manages an integrated water cycle serving millions of residents, alongside a broad portfolio of municipal and ancillary services including street lighting, traffic systems, heating, waste collection, snow clearing, telecommunications, and laboratory analysis.
Beyond its core utility operations, Iren operates a diversified generation fleet comprising hydroelectric, thermoelectric cogeneration, thermoelectric, and photovoltaic production plants. The business model reflects a typical Italian multi-utility structure, bundling regulated network activities (electricity, gas, and water distribution) with environmental services and customer-facing energy market operations. Such integrated utilities commonly hold regional or municipal concessions, which provide stable, regulated revenue streams alongside exposure to competitive energy retailing.
- ARERA tariff revisions reshape regulated network revenue outlook
- Renewables capex expansion underpins margin and EBITDA growth
- Italian waste management M&A drives scale and synergy gains
| Net Income: 293.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -2.95 > 1.0 |
| NWC/Revenue: -2.95% < 20% (prev -1.80%; Δ -1.15% < -1%) |
| CFO/TA 0.08 > 3% & CFO 977.4m > Net Income 293.5m |
| Net Debt (-317.8m) to EBITDA (1.26b): -0.25 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.28b) vs 12m ago 0.0% < -2% |
| Gross Margin: 44.24% > 18% (prev 42.54%; Δ 1.70% > 0.5%) |
| Asset Turnover: 48.11% > 50% (prev 49.25%; Δ -1.13% > 0%) |
| Interest Coverage Ratio: 4.15 > 6 (EBIT TTM 531.1m / Interest Expense TTM 128.0m) |
| A: -0.01 (Total Current Assets 2.51b - Total Current Liabilities 2.69b) / Total Assets 12.5b |
| B: 0.01 (Retained Earnings 128.6m / Total Assets 12.5b) |
| C: 0.04 (EBIT TTM 531.1m / Avg Total Assets 12.8b) |
| D: 0.41 (Book Value of Equity 3.58b / Total Liabilities 8.63b) |
| Altman-Z'' = 0.65 = B |
| DSRI: 1.01 (Receivables 1.48b/1.54b, Revenue 6.16b/6.46b) |
| GMI: 0.96 (GM 42.54% / 44.24%) |
| AQI: 1.09 (AQ_t 0.43 / AQ_t-1 0.39) |
| SGI: 0.95 (Revenue 6.16b / 6.46b) |
| TATA: -0.05 (NI 293.5m - CFO 977.4m) / TA 12.5b) |
| Beneish M = -3.04 (Cap -4..+1) = AA |
As of July 12, 2026, the stock is trading at EUR 2.53 with a total of 582,190 shares traded. Over the past week, the price has changed by -1.48%, over one month by -0.90%, over three months by +2.13% and over the past year by +7.30%.
Current recommended Stop Loss: 2.40 (which is 5.1% or 2.2 ATR below the current price).
Iren has no consensus analysts rating.
P/E Trailing = 11.1739
P/E Forward = 5.2854
P/S = 0.5283
P/B = 0.877
P/EG = 0.4936
Revenue TTM = 6.16b EUR
EBIT TTM = 531.1m EUR
EBITDA TTM = 1.26b EUR
Long Term Debt = 4.43b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 103.6m EUR (from shortLongTermDebt, last fiscal year)
Debt = 15.4m EUR (Leases only: 15.4m)
Net Debt = -317.8m EUR (calculated: Debt 15.4m - CCE 333.1m)
Enterprise Value = 2.98b EUR (3.30b + Debt 15.4m - CCE 333.1m)
Interest Coverage Ratio = 4.15 (Ebit TTM 531.1m / Interest Expense TTM 128.0m)
EV/FCF = 63.60x (Enterprise Value 2.98b / FCF TTM 46.8m)
FCF Yield = 1.57% (FCF TTM 46.8m / Enterprise Value 2.98b)
FCF Margin = 0.76% (FCF TTM 46.8m / Revenue TTM 6.16b)
Net Margin = 4.77% (Net Income TTM 293.5m / Revenue TTM 6.16b)
Gross Margin = 44.24% ((Revenue TTM 6.16b - Cost of Revenue TTM 3.43b) / Revenue TTM)
Gross Margin QoQ = 59.91% (prev -11.77%)
Tobins Q-Ratio = 0.24 (Enterprise Value 2.98b / Total Assets 12.5b)
Interest Expense / Debt = 832.0% (Interest Expense 128.0m / Debt 15.4m)
Taxrate = 27.62% (117.2m / 424.3m)
NOPAT = 384.4m (EBIT 531.1m * (1 - 27.62%))
Current Ratio = 0.93 (Total Current Assets 2.51b / Total Current Liabilities 2.69b)
Debt / Equity = 0.00 (Debt 15.4m / totalStockholderEquity, last quarter 3.58b)
Debt / EBITDA = -0.25 (Net Debt -317.8m / EBITDA 1.26b)
Debt / FCF = -6.78 (Net Debt -317.8m / FCF TTM 46.8m)
Total Stockholder Equity = 3.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.29% (Net Income 293.5m / Total Assets 12.5b)
RoE = 8.54% (Net Income TTM 293.5m / Total Stockholder Equity 3.44b)
RoCE = 6.75% (EBIT 531.1m / Capital Employed (Equity 3.44b + L.T.Debt 4.43b))
RoIC = 4.06% (NOPAT 384.4m / Invested Capital 9.47b)
WACC = 5.90% (E(3.30b)/V(3.31b) * Re(5.93%) + (debt cost/tax rate unavailable))
Discount Rate = 5.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 4.97 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈202.5m ; Y1≈177.6m ; Y5≈143.5m
[DCF] Fair Price = 2.04 (EV 2.30b - Net Debt -317.8m = Equity 2.62b / Shares 1.28b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 87.98 | EPS CAGR: 8.60% | SUE: N/A | # QB: 0
Revenue Correlation: -16.35 | Revenue CAGR: -1.19% | SUE: -0.87 | # QB: -1
EPS current Year (2026-12-31): EPS=0.24 | Chg30d=+0.68% | Revisions=+12% | GrowthEPS=+0.0% | GrowthRev=+4.9%
EPS next Year (2027-12-31): EPS=0.25 | Chg30d=+1.02% | Revisions=-12% | GrowthEPS=+4.2% | GrowthRev=+0.8%
[Analyst] Revisions Ratio: +0% (up=5, down=5)