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Indra Sistemas
(BME:IDR)
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Rating:71Outperform
Price Target:
€63.00
▲(18.07% Upside)
Action:Reiterated
Date:08/02/26
The score is driven primarily by improving financial performance (growth, rising operating/net margins, and healthy free-cash-flow conversion), supported by strong technical trend with price above key moving averages. The main offsets are margin and leverage volatility in the fundamentals and a valuation that appears only fair-to-expensive (P/E ~22.6 with a low dividend yield).
Positive Factors
Consistent revenue growth
Indra shows multi-period revenue expansion (low-to-mid teens historically and TTM growth ~9.9%), signaling sustained demand across its services. Durable top-line momentum supports scale benefits, recurring contract wins, and continued reinvestment in products and geographic expansion over the next several quarters.
Negative Factors
Sharp gross-margin decline
A material fall in gross margin to ~8% from prior 24–35% suggests a structural mix change, pricing pressure or accounting shift. If persistent, this compresses the margin base and forces reliance on operating efficiencies or higher-margin services to sustain EBIT and net margins, increasing execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
Indra shows multi-period revenue expansion (low-to-mid teens historically and TTM growth ~9.9%), signaling sustained demand across its services. Durable top-line momentum supports scale benefits, recurring contract wins, and continued reinvestment in products and geographic expansion over the next several quarters.
Read all positive factors
Indra Sistemas (IDR) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€10.01B
Dividend Yield0.53%
Average Volume (3M)845.63K
Price to Earnings (P/E)22.6
Beta (1Y)0.86
Revenue Growth23.99%
EPS Growth16.97%
CountryES
Employees62,396
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)2.51
Shares Outstanding176,654,400
10 Day Avg. Volume936,783
30 Day Avg. Volume845,628
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)4.92
Price to Sales (P/S)1.56
P/FCF Ratio19.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€69.80Price Target Upside30.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)2.76
Revenue Forecast (FY)€6.90B
Indra Sistemas Business Overview & Revenue Model
Company Description
Indra Sistemas, S.A. operates as a leading global technology and consulting company, delivering a comprehensive suite of solutions and services. The firm specializes in the entire lifecycle of technology, from design, development, and production t...
How the Company Makes Money
Indra makes money primarily by selling technology services and systems to enterprise and government customers under a mix of project-based and recurring contracts. Key revenue streams include: (1) Systems integration and bespoke projects: designin...
Indra Sistemas Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.19B | 5.46B | 4.84B | 4.34B | 3.85B | 3.39B |
| Gross Profit | 495.84M | 1.29B | 1.68B | 1.08B | 1.29B | 1.04B |
| EBITDA | 850.45M | 591.14M | 545.28M | 474.39M | 388.86M | 340.79M |
| Net Income | 440.37M | 435.83M | 277.54M | 205.75M | 171.90M | 143.37M |
Balance Sheet | ||||||
| Total Assets | 11.75B | 9.36B | 4.96B | 4.72B | 4.54B | 4.54B |
| Cash, Cash Equivalents and Short-Term Investments | 2.47B | 976.19M | 556.58M | 656.29M | 974.10M | 1.26B |
| Total Debt | 1.62B | 3.36B | 850.87M | 822.53M | 1.24B | 1.72B |
| Total Liabilities | 9.51B | 7.23B | 3.64B | 3.59B | 3.53B | 3.69B |
| Stockholders Equity | 1.94B | 1.73B | 1.30B | 1.12B | 987.01M | 820.17M |
Cash Flow | ||||||
| Free Cash Flow | 2.18B | 447.15M | 339.89M | 316.81M | 296.14M | 295.48M |
| Operating Cash Flow | 2.42B | 491.23M | 450.89M | 379.52M | 350.26M | 344.64M |
| Investing Cash Flow | -712.46M | -904.98M | -81.91M | -274.27M | -55.27M | -26.77M |
| Financing Cash Flow | 575.25M | 810.04M | -333.72M | -439.63M | -605.62M | -269.20M |
Indra Sistemas Technical Analysis
Positive
53.36
Price Trends
52.67
Positive
51.93
Positive
51.54
Positive
Market Momentum
1.67
Negative
67.30
Neutral
81.08
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:IDR, the sentiment is Positive. The current price of 53.36 is above the 20-day moving average (MA) of 52.12, above the 50-day MA of 52.67, and above the 200-day MA of 51.54, indicating a bullish trend. The MACD of 1.67 indicates Negative momentum. The RSI at 67.30 is Neutral, neither overbought nor oversold. The STOCH value of 81.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:IDR.
Indra Sistemas Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €10.01B | 22.63 | 25.11% | 0.56% | 23.99% | 16.97% | |
62 Neutral | €1.61B | 13.01 | 16.70% | 4.92% | 0.60% | 16.68% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €305.68M | 61.43 | 4.21% | ― | 21.31% | -12.38% | |
47 Neutral | €424.45M | 40.31 | 4.81% | 1.89% | -10.49% | -38.69% | |
41 Neutral | €388.81M | 57.43 | 0.54% | ― | -32.84% | 1095.83% |
* General Sector Average
ES:IDR
Indra Sistemas
59.60
23.23
63.87%
ES:AMP
Amper SA
4.83
1.39
40.41%
ES:PSG
Prosegur Compania de Seguridad
3.01
0.55
22.36%
ES:DOM
Global Dominion Access SA
2.83
-0.37
-11.53%
ES:IZER
Izertis SA
8.60
-1.45
-14.43%
ES:ATSI
Aplicaciones y Tratamiento de Sistemas, S.A.
4.00
-0.26
-6.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.