REY Stock Analysis: Reply S.p.A. | MI
Information Technology Services | MI, Italy | Market Cap: 4.338m EUR | 12M Return: -0.7% | IT0005282865 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.6M
Rev. Trend: 76.8%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 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.
Reply S.p.A. (MI: REY) is an Italian-headquartered IT consulting and system integration firm that delivers digital services and proprietary software platforms to clients across Europe and other international markets. The company combines traditional consulting and integration work with a portfolio of in-house platforms covering areas such as industrial AI, digital content management, supply chain execution, enterprise social networking, and healthcare-where its Ticuro Reply platform supports remote prevention and continuity of care.
Beyond software products, Reply applies AI to specialized domains, including deep-learning-based radiological diagnostics through X-RAIS Reply and the development of oncology-focused large language models under a strategic collaboration with the European Institute of Oncology. Its client base spans automotive and manufacturing, energy and utilities, financial services, logistics, retail and consumer products, and telco and media.
Founded in 1995 and headquartered in Turin, Reply operates within the IT consulting and services sub-industry, a sector characterized by project-based consulting engagements alongside recurring revenue from managed services and proprietary platform licensing. Its hybrid model-pairing bespoke system integration with reusable, industry-specific platforms-reflects a broader shift among European IT services firms toward productized offerings that complement traditional consulting work.
- Generative AI platform adoption accelerates enterprise digital services revenue
- Automotive manufacturing weakness pressures German client spending
- Wage inflation in EU IT consulting compresses operating margins
| Net Income: 346.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -1.77 > 1.0 |
| NWC/Revenue: 20.72% < 20% (prev 16.11%; Δ 4.61% < -1%) |
| CFO/TA 0.12 > 3% & CFO 326.0m > Net Income 346.7m |
| Net Debt (-372.9m) to EBITDA (565.7m): -0.66 < 3 |
| Current Ratio: 1.73 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.5m) vs 12m ago -2.00% < -2% |
| Gross Margin: 66.27% > 18% (prev 80.01%; Δ -13.74% > 0.5%) |
| Asset Turnover: 121.4% > 50% (prev 143.7%; Δ -22.27% > 0%) |
| Interest Coverage Ratio: 43.07 > 6 (EBIT TTM 493.2m / Interest Expense TTM 11.5m) |
| A: 0.24 (Total Current Assets 1.54b - Total Current Liabilities 885.4m) / Total Assets 2.69b |
| B: 0.40 (Retained Earnings 1.08b / Total Assets 2.69b) |
| C: 0.19 (EBIT TTM 493.2m / Avg Total Assets 2.58b) |
| D: 1.28 (Book Value of Equity 1.51b / Total Liabilities 1.18b) |
| Altman-Z'' = 5.53 = AAA |
| DSRI: 1.18 (Receivables 535.7m/514.4m, Revenue 3.14b/3.55b) |
| GMI: 1.21 (GM 80.01% / 66.27%) |
| AQI: 0.93 (AQ_t 0.31 / AQ_t-1 0.33) |
| SGI: 0.88 (Revenue 3.14b / 3.55b) |
| TATA: 0.01 (NI 346.7m - CFO 326.0m) / TA 2.69b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of August 24, 2026, the stock is trading at EUR 121.40 with a total of 59,480 shares traded. Over the past week, the price has changed by +0.66%, over one month by +28.87%, over three months by +15.40% and over the past year by -0.73%.
Current recommended Stop Loss: 112.10 (which is 7.7% or 2.7 ATR below the current price).
Reply S.p.A. has no consensus analysts rating.
P/E Trailing = 17.106
P/E Forward = 15.6986
P/S = 1.7108
P/B = 2.8844
Revenue TTM = 3.14b EUR
EBIT TTM = 493.2m EUR
EBITDA TTM = 565.7m EUR
Long Term Debt = 27.9m EUR (from longTermDebt, last quarter)
Short Term Debt = 12.0m EUR (from shortLongTermDebt, last quarter)
Debt = 139.9m EUR (Leases only: 139.9m)
Net Debt = -372.9m EUR (calculated: Debt 139.9m - CCE 512.8m)
Enterprise Value = 3.96b EUR (4.34b + Debt 139.9m - CCE 512.8m)
Interest Coverage Ratio = 43.07 (Ebit TTM 493.2m / Interest Expense TTM 11.5m)
EV/FCF = 14.15x (Enterprise Value 3.96b / FCF TTM 280.1m)
FCF Yield = 7.07% (FCF TTM 280.1m / Enterprise Value 3.96b)
FCF Margin = 8.93% (FCF TTM 280.1m / Revenue TTM 3.14b)
Net Margin = 11.05% (Net Income TTM 346.7m / Revenue TTM 3.14b)
Gross Margin = 66.27% ((Revenue TTM 3.14b - Cost of Revenue TTM 1.06b) / Revenue TTM)
Gross Margin QoQ = 49.07% (prev 42.54%)
Tobins Q-Ratio = 1.47 (Enterprise Value 3.96b / Total Assets 2.69b)
Interest Expense / Debt = 8.19% (Interest Expense 11.5m / Debt 139.9m)
Taxrate = 31.68% (117.1m / 369.7m)
NOPAT = 337.0m (EBIT 493.2m * (1 - 31.68%))
Current Ratio = 1.73 (Total Current Assets 1.54b / Total Current Liabilities 885.4m)
Debt / Equity = 0.09 (Debt 139.9m / totalStockholderEquity, last quarter 1.51b)
Debt / EBITDA = -0.66 (Net Debt -372.9m / EBITDA 565.7m)
Debt / FCF = -1.33 (Net Debt -372.9m / FCF TTM 280.1m)
Total Stockholder Equity = 1.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.42% (Net Income 346.7m / Total Assets 2.69b)
RoE = 24.50% (Net Income TTM 346.7m / Total Stockholder Equity 1.42b)
RoCE = 34.18% (EBIT 493.2m / Capital Employed (Equity 1.42b + L.T.Debt 27.9m))
RoIC = 20.42% (NOPAT 337.0m / Invested Capital 1.65b)
WACC = 7.59% (E(4.34b)/V(4.48b) * Re(7.65%) + D(139.9m)/V(4.48b) * Rd(8.19%) * (1-Tc(0.32)))
Discount Rate = 7.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -38.40 | Cagr: 0.09%
[DCF] Terminal Value 74.44% ; FCFF base≈288.5m ; Y1≈272.8m ; Y5≈256.3m
[DCF] Fair Price = 121.5 (EV 4.04b - Net Debt -372.9m = Equity 4.41b / Shares 36.3m; r=8.35% [WACC [floored]]; 5y FCF grow -6.95% → 2.50% )
Revenue Correlation: 76.77 | Revenue CAGR: 15.69% | SUE: -0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=7.70 | Chg30d=+3.53% | Revisions=+75% | GrowthEPS=+14.4% | GrowthRev=+10.6%
EPS next Year (2027-12-31): EPS=8.32 | Chg30d=+4.56% | Revisions=+75% | GrowthEPS=+8.1% | GrowthRev=+8.0%
[Analyst] Revisions Ratio: +86% (up=18, down=0)