REY Stock Analysis: Reply S.p.A. | MI
Information Technology Services | MI, Italy | Market Cap: 3.584m EUR | 12M Return: -24.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.06M
Rev. Trend: 91.0%
Qual. Beats: 0
Warnings
Tailwinds
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.
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: 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 79.68%; Δ -0.10% > 0.5%) |
| Asset Turnover: 136.9% > 50% (prev 131.4%; Δ 5.49% > 0%) |
| Interest Coverage Ratio: 43.22 > 6 (EBIT TTM 579.6m / Interest Expense TTM 13.4m) |
| 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: 1.17 (Book Value of Equity 1.49b / Total Liabilities 1.27b) |
| Altman-Z'' = 4.66 = AA |
As of July 28, 2026, the stock is trading at EUR 104.70 with a total of 150,730 shares traded. Over the past week, the price has changed by +6.73%, over one month by +13.74%, over three months by +16.09% and over the past year by -24.11%.
Current recommended Stop Loss: 95.80 (which is 8.5% or 2.7 ATR below the current price).
Reply S.p.A. has no consensus analysts rating.
P/E Trailing = 13.8755
P/E Forward = 12.9366
P/S = 1.4407
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 = 2.97b EUR (3.58b + Debt 132.2m - CCE 742.7m)
Interest Coverage Ratio = 43.22 (Ebit TTM 579.6m / Interest Expense TTM 13.4m)
EV/FCF = 10.61x (Enterprise Value 2.97b / FCF TTM 280.1m)
FCF Yield = 9.42% (FCF TTM 280.1m / Enterprise Value 2.97b)
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 = 1.08 (Enterprise Value 2.97b / Total Assets 2.77b)
Interest Expense / Debt = 10.15% (Interest Expense 13.4m / 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 = 24.11% (NOPAT 396.0m / Invested Capital 1.64b)
WACC = 8.15% (E(3.58b)/V(3.72b) * Re(8.19%) + D(132.2m)/V(3.72b) * Rd(10.15%) * (1-Tc(0.32)))
Discount Rate = 8.19% (= 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 = 127.3 (EV 4.04b - Net Debt -610.5m = Equity 4.65b / Shares 36.5m; 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=-0.38% | Revisions=+25% | GrowthEPS=+10.5% | GrowthRev=+8.2%
EPS next Year (2027-12-31): EPS=7.96 | Chg30d=-0.53% | Revisions=+25% | GrowthEPS=+7.0% | GrowthRev=+6.9%
[Analyst] Revisions Ratio: +40% (up=2, down=0)