Industrie De Nora SpA (IT:DNR)
:DNR
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Industrie De Nora SpA
(DNR)
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Rating:63Neutral
Price Target:
€7.00
▲(18.24% Upside)
Action:ReiteratedDate:02/04/26
The score is driven primarily by solid financial fundamentals (healthy margins, low leverage, and improving free cash flow), offset by weak technicals with the stock trading below major moving averages and subdued momentum. Valuation is reasonable with a modest dividend yield, providing partial support but not enough to overcome the currently bearish trend.
Positive Factors
Conservative balance sheet
A very low debt-to-equity ratio and high equity ratio provide durable financial flexibility, lowering refinancing and solvency risk. This supports steady capex for technology upgrades, cushions cyclicality in industrial demand, and preserves investment optionality over months.
Negative Factors
Weak cash conversion
Low OCF-to-net-income implies earnings are not translating efficiently into cash, which can constrain funding for capex, working capital or shareholder returns without using reserves or debt. Structural working capital or invoicing dynamics may limit near-term liquidity flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A very low debt-to-equity ratio and high equity ratio provide durable financial flexibility, lowering refinancing and solvency risk. This supports steady capex for technology upgrades, cushions cyclicality in industrial demand, and preserves investment optionality over months.
Read all positive factors
Industrie De Nora SpA (DNR) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€1.19B
Dividend Yield1.43%
Average Volume (3M)229.66K
Price to Earnings (P/E)4.5
Beta (1Y)0.75
Revenue Growth7.83%
EPS Growth8.60%
CountryIT
Employees2,045
SectorIndustrials
Sector Strength72
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.19
Shares Outstanding51,203,980
10 Day Avg. Volume201,595
30 Day Avg. Volume229,656
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)1.59
Price to Sales (P/S)1.75
P/FCF Ratio32.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€6.60Price Target Upside11.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.3
Revenue Forecast (FY)€796.28M
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 evolutio...
How the Company Makes Money
Industrie De Nora generates revenue through the sale of its electrochemical products and systems, which are utilized in various industries including water treatment, oil and gas, and energy. The company has multiple key revenue streams, including ...
Industrie De Nora SpA Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 892.73M | 862.61M | 856.41M | 852.83M | 615.88M | 499.45M |
| Gross Profit | 446.23M | 486.78M | 489.14M | 325.92M | 245.43M | 193.97M |
| EBITDA | 171.52M | 158.46M | 304.63M | 154.97M | 124.45M | 76.51M |
| Net Income | 91.12M | 83.38M | 230.05M | 89.56M | 66.70M | 32.63M |
Balance Sheet | ||||||
| Total Assets | 1.36B | 1.42B | 1.33B | 1.29B | 986.74M | 770.12M |
| Cash, Cash Equivalents and Short-Term Investments | 198.90M | 226.17M | 212.10M | 174.13M | 73.84M | 76.78M |
| Total Debt | 160.62M | 159.28M | 143.91M | 281.20M | 261.56M | 170.21M |
| Total Liabilities | 408.75M | 469.68M | 421.82M | 542.82M | 532.78M | 357.00M |
| Stockholders Equity | 942.35M | 946.53M | 904.49M | 741.22M | 450.46M | 409.57M |
Cash Flow | ||||||
| Free Cash Flow | 36.85M | 46.85M | 51.75M | 66.83M | -46.51M | 41.31M |
| Operating Cash Flow | 100.78M | 110.72M | 140.25M | 112.97M | -15.52M | 68.72M |
| Investing Cash Flow | -67.90M | -54.62M | 81.60M | -205.07M | -36.57M | -10.27M |
| Financing Cash Flow | -11.64M | -39.36M | -193.49M | 193.32M | 47.30M | -35.41M |
Industrie De Nora SpA Technical Analysis
Neutral
5.92
Price Trends
6.48
Negative
6.86
Negative
6.94
Negative
Market Momentum
-0.20
Negative
46.73
Neutral
77.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:DNR, the sentiment is Neutral. The current price of 5.92 is above the 20-day moving average (MA) of 5.82, below the 50-day MA of 6.48, and below the 200-day MA of 6.94, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 77.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IT:DNR.
Industrie De Nora SpA Peers Comparison
UnderperformOutperform
Sector (63)
IT:DNR
Industrie De Nora SpA
5.92
-0.25
-4.06%
IT:CEM
Cementir Holding S.p.A.
16.63
3.18
23.62%
IT:ICF
Industrie Chimiche Forestali SpA
6.00
1.10
22.45%
IT:NDT
Neodecortech SpA
3.80
1.22
47.29%
IT:GRN
Green Oleo S.P.A.
0.63
-0.17
-21.25%
Industrie De Nora SpA Corporate Events
De Nora Enhances Financial Flexibility with New Credit Line and Debt Repayment
Nov 25, 2025
Industrie De Nora S.p.A. has optimized its financial structure by securing a new 100 million euro revolving credit line and arranging for the early repayment of 80 million euros of its existing senior financing. This strategic move enhances De Nor...
Industrie De Nora Achieves Strong Growth and Green Hydrogen Milestone
Nov 4, 2025
Industrie De Nora reported significant growth in its economic-financial indicators for the first nine months of 2025, with revenues reaching 631.3 million euros, a 5% increase from the previous year. The company completed a major milestone by supp...
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.