Industrie De Nora SpA (DNR) AI Stock Analysis

• Market Cap: €1.59B
• Dividend Yield: 1.32%
• Average Volume (3M): 229.66K
• Price to Earnings (P/E): 19.9
• Beta (1Y): 0.87
• Revenue Growth: 4.96%
• EPS Growth: -64.38%
• Country: IT
• Employees: 2,045
• Sector: Industrials
• Sector Strength: 72
• Industry: Chemicals - Specialty
• EPS (TTM): 0.08
• Shares Outstanding: 51,203,980
• 10 Day Avg. Volume: 201,595
• 30 Day Avg. Volume: 229,656
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €8.27
• Price Target Upside: 5.89% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 73 Outperform
• Price Target: €8.50 ▲(8.83% Upside)

Industrie De Nora SpA's strong financial performance, particularly in revenue growth and operational efficiency, is a key strength. The positive technical indicators further support a favorable outlook. However, challenges in profit margins and cash flow, along with moderate valuation metrics, slightly temper the overall score.

Positive Factors

Revenue Growth

The significant revenue growth reflects strong market demand and effective sales strategies, positioning the company for continued expansion in its core sectors.

Balance Sheet Health

Low leverage and a strong equity ratio provide financial stability, allowing the company to invest in growth opportunities and weather economic fluctuations.

Operational Efficiency

Sustained operational efficiency supports profitability and competitive positioning, enabling the company to effectively manage costs and enhance shareholder value.

Negative Factors

Profit Margin Decline

Declining profit margins suggest rising costs or pricing pressures, which could impact long-term profitability if not addressed through cost management or pricing strategies.

Cash Flow Challenges

Reduced free cash flow growth may constrain liquidity, limiting the company's ability to fund new projects or respond to market opportunities without external financing.

Return on Equity Decline

A declining return on equity indicates potential challenges in generating shareholder returns, necessitating strategic initiatives to boost profitability and efficiency.

Industrie De Nora SpA Business Overview & Revenue Model

Company Description

Industrie De Nora S.p.A., through its subsidiaries, provides catalytic coatings and insoluble electrodes for electrochemical and industrial applications worldwide. The company offers analyzers and detectors; anodes for chlorine and oxygen evolution; cathodes for hydrogen evolution; disinfection systems; electro chlorination systems; electrodes and accessories for cathodic protection; filtration solutions; gas diffusion electrodes, MEA, and catalysts; membrane technologies; and contaminant removal systems. It also provides engineering design, remote support, repair, analytic, training, electrode recoating and repair, and spare and replacement parts. The company's products are used in various applications, which include ballast water management, battery, cathodic protection, chlor-alkali processes, cooling water treatment, copper foil electrodeposition, fire protection water treatment, fuel cells, h2 production by water electrolysis, HCL electrolysis, marine wastewater treatment, offshore wastewater treatment, pool disinfection, printed circuit board production, salt splitting processes, sodium chlorate processes, surface disinfection, surface finishing, plating and galvanizing, wastewater treatment, water reuse, and reclamation water treatment. It serves commercial and institutional, energy transition, engineering, construction, OEM, food and beverage, industrial, marine, mining and metal recovery, municipal drinking water and wastewater, municipal reuse, offshore and onshore oil and gas, power generation, pulp and paper, steel manufacturing, utilities and services, and NGO and relief organizations, as well as surface finishing, plating, and galvanizing markets and industries. The company was founded in 1923 and is based in Milan, Italy. Industrie De Nora S.p.A. operates as a subsidiary of Federico De Nora S.P.A.

How the Company Makes Money

Industrie De Nora SpA generates revenue through the sale of its specialized electrodes and coatings, which are essential components in various industrial processes and water treatment systems. The company's key revenue streams include supplying electrodes for chlor-alkali production and providing water treatment solutions that utilize electrochemical processes to ensure safe and clean water. Significant partnerships with industrial manufacturers and water utilities enhance De Nora's market reach, while continuous investment in research and development fosters innovation, allowing the company to maintain its competitive edge in sustainable technologies.

Industrie De Nora SpA Financial Statement Overview

Summary

Industrie De Nora SpA demonstrates strong financial health with consistent revenue growth, robust profit margins, and efficient cash management. The balance sheet is stable with low leverage, providing financial flexibility. While there are areas for improvement in return on equity and free cash flow growth, the overall financial position remains solid.

Income Statement

Industrie De Nora SpA shows a strong financial performance with a steady revenue growth rate of 2.6% in TTM (Trailing-Twelve-Months) compared to the previous year, and a robust gross profit margin of 42.3% for TTM. The net profit margin for TTM stands at 9.3%, indicating efficient cost management. The EBIT margin is healthy at 12.1%, and the EBITDA margin is 18.2%. Overall, the company demonstrates stability and profitability with consistent revenue and profit growth.

Balance Sheet

The company's balance sheet is stable with a low debt-to-equity ratio of 0.17, indicating prudent financial leverage. The return on equity (ROE) is 8.5% for TTM, reflecting moderate profitability. The equity ratio is strong at 68.0%, highlighting a solid equity base relative to total assets. While the debt levels are manageable, a slight improvement in ROE could enhance shareholder value further.

Cash Flow

Industrie De Nora SpA exhibits a solid cash flow position with a free cash flow to net income ratio of 0.55 for TTM, showcasing effective cash generation. The operating cash flow to net income ratio is 1.34, indicating excellent cash flow efficiency relative to earnings. Despite a 4.5% decline in free cash flow growth, the company maintains a healthy cash buffer to support operations and investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	877.88M	862.61M	856.41M	852.83M	615.88M	499.45M
Gross Profit	435.13M	486.78M	489.14M	325.92M	245.43M	193.97M
EBITDA	156.64M	158.46M	301.57M	154.97M	116.76M	77.47M
Net Income	78.71M	83.38M	230.05M	89.56M	66.70M	32.63M
Balance Sheet
Total Assets	1.33B	1.42B	1.33B	1.29B	986.74M	770.12M
Cash, Cash Equivalents and Short-Term Investments	149.57M	226.17M	212.10M	174.13M	73.84M	76.78M
Total Debt	146.41M	159.28M	143.91M	281.20M	261.56M	170.21M
Total Liabilities	396.25M	469.68M	421.82M	542.82M	532.78M	357.00M
Stockholders Equity	921.07M	946.53M	904.49M	741.22M	450.46M	409.57M
Cash Flow
Free Cash Flow	24.88M	46.85M	51.75M	66.83M	-46.51M	41.31M
Operating Cash Flow	93.17M	110.72M	140.25M	112.97M	-15.52M	68.72M
Investing Cash Flow	-68.60M	-54.62M	81.60M	-205.07M	-36.57M	-10.27M
Financing Cash Flow	-27.23M	-39.36M	-193.49M	193.32M	47.30M	-35.41M

Industrie De Nora SpA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:DNR, the sentiment is Positive. The current price of 7.81 is below the 20-day moving average (MA) of 7.88, above the 50-day MA of 7.09, and above the 200-day MA of 6.97, indicating a neutral trend. The MACD of 0.27 indicates Positive momentum. The RSI at 54.98 is Neutral, neither overbought nor oversold. The STOCH value of 7.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:DNR.

Industrie De Nora SpA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NDT	79 Outperform	€44.62M	7.64	―	4.63%	―	―
CEM	75 Outperform	€2.46B	13.65	10.89%	1.80%	0.39%	-14.36%
DNR	73 Outperform	€1.59B	19.86	―	1.32%	4.96%	-64.38%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Industrie De Nora SpA Corporate Events

Industrie De Nora Initiates Performance Shares Plan and Updates Internal Dealing Procedure

Industrie De Nora’s Board of Directors has approved the first cycle of the Performance Shares Plan 2025-2027, allocating rights to the CEO, executives with strategic responsibilities, and other executives. This move aligns with their strategic goals and regulatory requirements, potentially impacting their operational and market positioning. Additionally, the Board updated the Procedure on Internal Dealing to reflect recent regulatory changes, reinforcing their commitment to compliance and corporate governance.

The most recent analyst rating on (IT:DNR) stock is a Hold with a EUR7.10 price target. To see the full list of analyst forecasts on Industrie De Nora SpA stock, see the IT:DNR Stock Forecast page.

Industrie De Nora Releases Semi-Annual Financial Report for 2025

Industrie De Nora S.p.A. has released its Semi-Annual Financial Report as of June 30, 2025, which was approved by the Board of Directors on July 31, 2025. The report is accessible to the public through various platforms, including the company’s website. This announcement underscores De Nora’s commitment to transparency and provides stakeholders with insights into the company’s financial health and strategic direction.

The most recent analyst rating on (IT:DNR) stock is a Buy with a EUR9.80 price target. To see the full list of analyst forecasts on Industrie De Nora SpA stock, see the IT:DNR Stock Forecast page.

Industrie De Nora Reports Strong H1 2025 Results, Boosts EBITDA Margin Guidance

Industrie De Nora reported a 3.8% increase in revenue to 415.6 million euros for the first half of 2025, driven by growth in its core business segments, particularly Water Technologies. The company also saw an 8.1% rise in adjusted EBITDA, reflecting resilience amid global market volatility. The Water Technologies segment, supported by trends like water scarcity and environmental awareness, showed significant growth, especially in the Pools line. The company confirmed its revenue growth guidance for 2025 and revised its adjusted EBITDA margin upward, indicating confidence in its strategic positioning and ability to capitalize on energy transition opportunities.

The most recent analyst rating on (IT:DNR) stock is a Buy with a EUR9.80 price target. To see the full list of analyst forecasts on Industrie De Nora SpA stock, see the IT:DNR Stock Forecast page.