(IRE) Iren SpA - Overview
Sector: Utilities | Industry: Utilities - Diversified | Exchange: MI (Italy) | Market Cap: 3.500m EUR | Total Return: 6.7% in 12m
Avg Turnover: 3.41M
EPS Trend: 88.0%
Rev. Trend: -37.1%
Qual. Beats: -1
Warnings
Altman Z'' 0.29 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Iren SpA is a prominent Italian multi-utility provider headquartered in Reggio Emilia. The company maintains a diversified operational structure across electricity production, natural gas distribution, integrated water management, and waste services. Its energy portfolio is supported by a mix of hydroelectric, thermoelectric, and solar assets, including over 100 photovoltaic plants.
The multi-utility business model typically benefits from regulated revenue streams and regional monopolies, which provide relative cash flow stability compared to pure-play energy producers. In the Italian market, these companies often serve as critical infrastructure operators for municipal heating, sewerage, and street lighting systems.
Investors should examine the fundamental metrics on ValueRay to better understand the companys valuation.
The firm manages extensive physical infrastructure, including over 20,000 kilometers of water pipelines and 8,000 kilometers of gas networks. This capital-intensive framework allows Iren to serve millions of residents while integrating renewable energy capacity into its broader distribution grid.
- Regulated network returns sensitive to Italian sovereign bond yields and WACC adjustments
- Expansion of waste treatment capacity drives higher margins in circular economy segment
- Volatility in natural gas and electricity prices impacts energy production profitability
- High capital expenditure requirements for energy transition put pressure on net debt levels
- Integrated water cycle concessions provide stable cash flows amidst macroeconomic uncertainty
| Net Income: 347.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.54 > 1.0 |
| NWC/Revenue: -2.82% < 20% (prev -6.11%; Δ 3.29% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.08b > Net Income 347.5m |
| Net Debt (-256.2m) to EBITDA (1.33b): -0.19 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.28b) vs 12m ago 0.0% < -2% |
| Gross Margin: 62.20% > 18% (prev 0.44%; Δ 6.18k% > 0.5%) |
| Asset Turnover: 52.25% > 50% (prev 48.72%; Δ 3.53% > 0%) |
| Interest Coverage Ratio: 4.16 > 6 (EBITDA TTM 1.33b / Interest Expense TTM 149.8m) |
| 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: 0.05 (EBIT TTM 623.1m / Avg Total Assets 12.3b) |
| D: 0.01 (Book Value of Equity 128.6m / Total Liabilities 8.63b) |
| Altman-Z'' = 0.29 = B |
| DSRI: 0.95 (Receivables 1.48b/1.44b, Revenue 6.45b/5.95b) |
| GMI: 0.71 (GM 62.20% / 43.95%) |
| AQI: 1.08 (AQ_t 0.43 / AQ_t-1 0.40) |
| SGI: 1.08 (Revenue 6.45b / 5.95b) |
| TATA: -0.06 (NI 347.5m - CFO 1.08b) / TA 12.5b) |
| Beneish M = -3.29 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 2.71 with a total of 1,327,219 shares traded.
Over the past week, the price has changed by +2.65%,
over one month by +4.22%,
over three months by +0.07% and
over the past year by +6.74%.
Iren SpA has no consensus analysts rating.
P/E Trailing = 11.8609
P/E Forward = 5.2854
P/S = 0.5608
P/B = 0.973
P/EG = 0.4936
Revenue TTM = 6.45b EUR
EBIT TTM = 623.1m EUR
EBITDA TTM = 1.33b EUR
Long Term Debt = unknown (none)
Short Term Debt = 598.0m EUR (from shortLongTermDebt, last fiscal year)
Debt = 76.9m EUR (Leases only: 76.9m)
Net Debt = -256.2m EUR (calculated: Debt 76.9m - CCE 333.1m)
Enterprise Value = 3.24b EUR (3.50b + Debt 76.9m - CCE 333.1m)
Interest Coverage Ratio = 4.16 (Ebit TTM 623.1m / Interest Expense TTM 149.8m)
EV/FCF = 12.82x (Enterprise Value 3.24b / FCF TTM 253.0m)
FCF Yield = 7.80% (FCF TTM 253.0m / Enterprise Value 3.24b)
FCF Margin = 3.92% (FCF TTM 253.0m / Revenue TTM 6.45b)
Net Margin = 5.39% (Net Income TTM 347.5m / Revenue TTM 6.45b)
Gross Margin = 62.20% ((Revenue TTM 6.45b - Cost of Revenue TTM 2.44b) / Revenue TTM)
Gross Margin QoQ = 59.91% (prev none%)
Tobins Q-Ratio = 0.26 (Enterprise Value 3.24b / Total Assets 12.5b)
Interest Expense / Debt = 194.8% (Interest Expense 149.8m / Debt 76.9m)
Taxrate = 29.56% (55.3m / 187.2m)
NOPAT = 439.0m (EBIT 623.1m * (1 - 29.56%))
Current Ratio = 0.93 (Total Current Assets 2.51b / Total Current Liabilities 2.69b)
Debt / Equity = 0.02 (Debt 76.9m / totalStockholderEquity, last quarter 3.58b)
Debt / EBITDA = -0.19 (Net Debt -256.2m / EBITDA 1.33b)
Debt / FCF = -1.01 (Net Debt -256.2m / FCF TTM 253.0m)
Total Stockholder Equity = 3.43b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.82% (Net Income 347.5m / Total Assets 12.5b)
RoE = 10.12% (Net Income TTM 347.5m / Total Stockholder Equity 3.43b)
RoCE = 6.38% (EBIT 623.1m / Capital Employed (Total Assets 12.5b - Current Liab 2.69b))
RoIC = 4.51% (NOPAT 439.0m / Invested Capital 9.73b)
WACC = 6.04% (E(3.50b)/V(3.58b) * Re(6.17%) + (debt cost/tax rate unavailable))
Discount Rate = 6.17% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 4.97 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈326.2m ; Y1≈286.1m ; Y5≈231.1m
[DCF] Fair Price = 3.09 (EV 3.71b - Net Debt -256.2m = Equity 3.97b / 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: -37.14 | Revenue CAGR: -3.36% | SUE: -0.97 | # QB: -1
EPS current Year (2026-12-31): EPS=0.24 | Chg30d=+0.89% | Revisions=+11% | GrowthEPS=+0.0% | GrowthRev=+4.9%
EPS next Year (2027-12-31): EPS=0.25 | Chg30d=+1.02% | Revisions=+11% | GrowthEPS=+4.0% | GrowthRev=+0.8%
[Analyst] Revisions Ratio: +11%