(REY) Reply S.p.A. - Overview
Sector: Technology | Industry: Information Technology Services | Exchange: MI (Italy) | Market Cap: 3.896m EUR | Total Return: -27.4% in 12m
Avg Turnover: 17.1M
Rev. Trend: 91.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader, Favorite
Reply S.p.A. is a Turin-based technology firm specializing in IT consulting, system integration, and digital services. The company operates through a decentralized network of highly specialized boutiques, focusing on the design and implementation of solutions across artificial intelligence, cloud computing, and digital media. Its proprietary platforms, such as Axulus and Lea Reply, target industrial engineering and supply chain execution, while X-RAIS Reply provides deep learning tools for radiological diagnostics.
The company serves a diverse range of sectors, including automotive, financial services, and telecommunications. In the IT services industry, firms like Reply often utilize a high-margin Platform-as-a-Service model to complement traditional labor-intensive consulting. This sector is currently driven by enterprise-level transitions to generative AI and the automation of legacy industrial operations.
Investors may find it useful to examine the historical performance and valuation metrics of REY on ValueRay. Reply S.p.A. maintains a global presence with a significant concentration of business in the Italian and German markets, positioning it as a key integrator for European digital transformation projects.
- Enterprise adoption of generative AI platforms drives high-margin consulting revenue growth
- Geographic expansion into US and German markets reduces Italian sovereign risk exposure
- Labor cost inflation for specialized IT talent impacts core EBITDA margins
- Digital transformation spending cycles in automotive and financial sectors dictate order backlog
- Integration of proprietary AI platforms enhances recurring software-as-a-service revenue streams
| Net Income: 439.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -1.31 > 1.0 |
| NWC/Revenue: 19.35% < 20% (prev 15.49%; Δ 3.86% < -1%) |
| CFO/TA 0.12 > 3% & CFO 326.0m > Net Income 439.4m |
| Net Debt (-610.5m) to EBITDA (669.4m): -0.91 < 3 |
| Current Ratio: 1.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (37.3m) vs 12m ago 0.0% < -2% |
| Gross Margin: 79.58% > 18% (prev 0.80%; Δ 7.88k% > 0.5%) |
| Asset Turnover: 136.9% > 50% (prev 131.4%; Δ 5.49% > 0%) |
| Interest Coverage Ratio: 78.15 > 6 (EBITDA TTM 669.4m / Interest Expense TTM 7.42m) |
| A: 0.26 (Total Current Assets 1.65b - Total Current Liabilities 938.1m) / Total Assets 2.77b |
| B: 0.09 (Retained Earnings 250.9m / Total Assets 2.77b) |
| C: 0.21 (EBIT TTM 579.6m / Avg Total Assets 2.70b) |
| D: 0.20 (Book Value of Equity 255.8m / Total Liabilities 1.27b) |
| Altman-Z'' = 3.65 = AA |
| DSRI: 0.98 (Receivables 792.1m/757.6m, Revenue 3.69b/3.46b) |
| GMI: 1.00 (GM 79.58% / 79.68%) |
| AQI: 0.87 (AQ_t 0.29 / AQ_t-1 0.34) |
| SGI: 1.07 (Revenue 3.69b / 3.46b) |
| TATA: 0.04 (NI 439.4m - CFO 326.0m) / TA 2.77b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 104.90 with a total of 128,390 shares traded.
Over the past week, the price has changed by +8.87%,
over one month by +16.00%,
over three months by +20.74% and
over the past year by -27.39%.
Reply S.p.A. has no consensus analysts rating.
P/E Trailing = 14.8164
P/E Forward = 13.7363
P/S = 1.5662
P/B = 2.4389
Revenue TTM = 3.69b EUR
EBIT TTM = 579.6m EUR
EBITDA TTM = 669.4m EUR
Long Term Debt = 32.4m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 14.0k EUR (from shortTermDebt, last fiscal year)
Debt = 132.2m EUR (Leases only: 132.2m)
Net Debt = -610.5m EUR (calculated: Debt 132.2m - CCE 742.7m)
Enterprise Value = 3.29b EUR (3.90b + Debt 132.2m - CCE 742.7m)
Interest Coverage Ratio = 78.15 (Ebit TTM 579.6m / Interest Expense TTM 7.42m)
EV/FCF = 11.73x (Enterprise Value 3.29b / FCF TTM 280.1m)
FCF Yield = 8.53% (FCF TTM 280.1m / Enterprise Value 3.29b)
FCF Margin = 7.58% (FCF TTM 280.1m / Revenue TTM 3.69b)
Net Margin = 11.90% (Net Income TTM 439.4m / Revenue TTM 3.69b)
Gross Margin = 79.58% ((Revenue TTM 3.69b - Cost of Revenue TTM 754.3m) / Revenue TTM)
Gross Margin QoQ = 42.54% (prev none%)
Tobins Q-Ratio = 1.19 (Enterprise Value 3.29b / Total Assets 2.77b)
Interest Expense / Debt = 5.61% (Interest Expense 7.42m / Debt 132.2m)
Taxrate = 31.68% (117.1m / 369.7m)
NOPAT = 396.0m (EBIT 579.6m * (1 - 31.68%))
Current Ratio = 1.76 (Total Current Assets 1.65b / Total Current Liabilities 938.1m)
Debt / Equity = 0.09 (Debt 132.2m / totalStockholderEquity, last fiscal year 1.49b)
Debt / EBITDA = -0.91 (Net Debt -610.5m / EBITDA 669.4m)
Debt / FCF = -2.18 (Net Debt -610.5m / FCF TTM 280.1m)
Total Stockholder Equity = 1.33b (last 4 quarters mean from totalStockholderEquity)
RoA = 16.29% (Net Income 439.4m / Total Assets 2.77b)
RoE = 32.96% (Net Income TTM 439.4m / Total Stockholder Equity 1.33b)
RoCE = 42.45% (EBIT 579.6m / Capital Employed (Equity 1.33b + L.T.Debt 32.4m))
RoIC = 22.28% (NOPAT 396.0m / Invested Capital 1.78b)
WACC = 7.93% (E(3.90b)/V(4.03b) * Re(8.07%) + D(132.2m)/V(4.03b) * Rd(5.61%) * (1-Tc(0.32)))
Discount Rate = 8.07% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 7.16 | Cagr: 0.09%
[DCF] Terminal Value 74.44% ; FCFF base≈288.5m ; Y1≈272.8m ; Y5≈256.3m
[DCF] Fair Price = 125.2 (EV 4.04b - Net Debt -610.5m = Equity 4.65b / Shares 37.1m; r=8.35% [WACC [floored]]; 5y FCF grow -6.95% → 2.50% )
Revenue Correlation: 90.98 | Revenue CAGR: 23.79% | SUE: 0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=7.44 | Chg30d=+1.24% | Revisions=-33% | GrowthEPS=+10.6% | GrowthRev=+8.1%
EPS next Year (2027-12-31): EPS=8.00 | Chg30d=+0.76% | Revisions=+0% | GrowthEPS=+7.5% | GrowthRev=+6.6%
[Analyst] Revisions Ratio: -33%