IRE Stock Analysis: Iren | MI
Utilities - Diversified | MI, Italy | Market Cap: 3.179m EUR | 12M Return: 2% | IT0003027817 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.50M
EPS Trend: 85.0%
Rev. Trend: 1.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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: 298.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.00 > 1.0 |
| NWC/Revenue: -5.67% < 20% (prev -5.71%; Δ 0.04% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.06b > Net Income 298.7m |
| Net Debt (4.45b) to EBITDA (1.27b): 3.51 < 3 |
| Current Ratio: 0.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.30b) vs 12m ago 1.29% < -2% |
| Gross Margin: 31.62% > 18% (prev 35.78%; Δ -4.16% > 0.5%) |
| Asset Turnover: 48.96% > 50% (prev 54.21%; Δ -5.25% > 0%) |
| Interest Coverage Ratio: 3.92 > 6 (EBIT TTM 537.7m / Interest Expense TTM 137.4m) |
| A: -0.03 (Total Current Assets 2.21b - Total Current Liabilities 2.55b) / Total Assets 12.2b |
| B: 0.03 (Retained Earnings 323.0m / Total Assets 12.2b) |
| C: 0.04 (EBIT TTM 537.7m / Avg Total Assets 12.3b) |
| D: 0.40 (Book Value of Equity 3.44b / Total Liabilities 8.53b) |
| Altman-Z'' = 0.62 = B |
| DSRI: 0.85 (Receivables 1.52b/1.99b, Revenue 6.02b/6.71b) |
| GMI: 1.13 (GM 35.78% / 31.62%) |
| AQI: 1.05 (AQ_t 0.44 / AQ_t-1 0.42) |
| SGI: 0.90 (Revenue 6.02b / 6.71b) |
| TATA: -0.06 (NI 298.7m - CFO 1.06b) / TA 12.2b) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of September 27, 2026, the stock is trading at EUR 2.48 with a total of 548,287 shares traded. Over the past week, the price has changed by -0.48%, over one month by -1.04%, over three months by +0.24% and over the past year by +1.98%.
Current recommended Stop Loss: 2.40 (which is 3.2% or 1.6 ATR below the current price).
Iren has no consensus analysts rating.
P/E Trailing = 10.7739
P/E Forward = 5.2854
P/S = 0.5063
P/B = 0.9387
P/EG = 0.4936
Revenue TTM = 6.02b EUR
EBIT TTM = 537.7m EUR
EBITDA TTM = 1.27b EUR
Long Term Debt = 4.53b EUR (from longTermDebt, last quarter)
Short Term Debt = 169.7m EUR (from shortTermDebt, last quarter)
Debt = 4.77b EUR (from shortLongTermDebtTotal, last quarter) + Leases 14.5m
Net Debt = 4.45b EUR (calculated: Debt 4.77b - CCE 321.2m)
Enterprise Value = 7.63b EUR (3.18b + Debt 4.77b - CCE 321.2m)
Interest Coverage Ratio = 3.92 (Ebit TTM 537.7m / Interest Expense TTM 137.4m)
EV/FCF = 63.28x (Enterprise Value 7.63b / FCF TTM 120.6m)
FCF Yield = 1.58% (FCF TTM 120.6m / Enterprise Value 7.63b)
FCF Margin = 2.00% (FCF TTM 120.6m / Revenue TTM 6.02b)
Net Margin = 4.96% (Net Income TTM 298.7m / Revenue TTM 6.02b)
Gross Margin = 31.62% ((Revenue TTM 6.02b - Cost of Revenue TTM 4.12b) / Revenue TTM)
Gross Margin QoQ = 3.34% (prev 12.63%)
Tobins Q-Ratio = 0.62 (Enterprise Value 7.63b / Total Assets 12.2b)
Interest Expense / Debt = 2.88% (Interest Expense 137.4m / Debt 4.77b)
Taxrate = 28.16% (122.4m / 434.5m)
NOPAT = 386.3m (EBIT 537.7m * (1 - 28.16%))
Current Ratio = 0.87 (Total Current Assets 2.21b / Total Current Liabilities 2.55b)
Debt / Equity = 1.39 (Debt 4.77b / totalStockholderEquity, last quarter 3.44b)
Debt / EBITDA = 3.51 (Net Debt 4.45b / EBITDA 1.27b)
Debt / FCF = 36.92 (Net Debt 4.45b / FCF TTM 120.6m)
Total Stockholder Equity = 3.34b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.43% (Net Income 298.7m / Total Assets 12.2b)
RoE = 8.94% (Net Income TTM 298.7m / Total Stockholder Equity 3.34b)
RoCE = 6.83% (EBIT 537.7m / Capital Employed (Equity 3.34b + L.T.Debt 4.53b))
RoIC = 4.05% (NOPAT 386.3m / Invested Capital 9.54b)
WACC = 3.56% (E(3.18b)/V(7.95b) * Re(5.80%) + D(4.77b)/V(7.95b) * Rd(2.88%) * (1-Tc(0.28)))
Discount Rate = 5.80% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 69.42 | Cagr: 0.57%
[DCF] Terminal Value 73.10% ; FCFF base≈170.5m ; Y1≈149.6m ; Y5≈120.8m
[DCF] Fair Price = N/A (negative equity: EV 1.94b - Net Debt 4.45b = -2.51b; debt exceeds intrinsic value)
EPS Correlation: 84.95 | EPS CAGR: 7.47% | SUE: N/A | # QB: 0
Revenue Correlation: 1.32 | Revenue CAGR: 0.08% | SUE: 0.22 | # QB: 0
EPS current Year (2026-12-31): EPS=0.24 | Chg30d=-0.80% | Revisions=-57% | GrowthEPS=+0.0% | GrowthRev=+5.4%
EPS next Year (2027-12-31): EPS=0.25 | Chg30d=+0.04% | Revisions=-17% | GrowthEPS=+5.1% | GrowthRev=+0.7%
[Analyst] Revisions Ratio: -50% (up=1, down=6)