Industrie De Nora SpA (DNR) AI Stock Analysis

• Market Cap: €1.47B
• Dividend Yield: 1.42%
• Average Volume (3M): 229.66K
• Price to Earnings (P/E): 15.8
• Beta (1Y): 0.72
• Revenue Growth: 7.83%
• EPS Growth: 8.60%
• Country: IT
• Employees: 2,045
• Sector: Industrials
• Sector Strength: 72
• Industry: Chemicals - Specialty
• EPS (TTM): 0.12
• Shares Outstanding: 51,203,980
• 10 Day Avg. Volume: 201,595
• 30 Day Avg. Volume: 229,656
• PEG Ratio: -0.29
• Price to Book (P/B): 1.59
• Price to Sales (P/S): 1.75
• P/FCF Ratio: 32.14
• 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: €8.60
• Price Target Upside: 17.81% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: €7.50 ▲(2.74% Upside)

Industrie De Nora SpA's overall stock score is primarily driven by its strong financial performance, characterized by consistent revenue growth and a robust balance sheet. However, technical analysis indicates bearish momentum, and valuation metrics suggest the stock is fairly priced. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and stability.

Balance Sheet Health

A low debt-to-equity ratio signifies conservative financial management, providing flexibility for future investments and growth opportunities.

Cash Flow Improvement

Improved cash generation enhances the company's ability to invest in growth initiatives and withstand economic fluctuations.

Negative Factors

Profit Margin Decline

Declining margins suggest rising costs or pricing pressures, which could impact profitability if not managed effectively.

Cash Conversion Efficiency

Low cash conversion efficiency may indicate challenges in turning earnings into cash, potentially affecting liquidity and investment capacity.

Return on Equity Decline

A declining ROE could indicate less efficient use of equity capital, potentially affecting investor confidence and future capital raising.

Industrie De Nora SpA Business Overview & Revenue Model

Company Description

Industrie De Nora SpA (DNR) is a leading global technology company based in Italy, specializing in the development and manufacturing of advanced electrochemical solutions. The company operates primarily in the sectors of water treatment, energy production, and industrial processes. De Nora's core products include electrodes, water disinfection systems, and innovative technologies for hydrogen production and renewable energy applications, positioning it as a key player in the transition towards sustainable energy solutions.

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 direct product sales, long-term service contracts, and licensing agreements for its patented technologies. Additionally, strategic partnerships with other companies and participation in large-scale projects, especially in the renewable energy sector, significantly contribute to its earnings. The growing demand for sustainable technologies and the company's focus on innovation further enhance its revenue potential.

Industrie De Nora SpA Financial Statement Overview

Summary

Industrie De Nora SpA demonstrates strong revenue growth and operational efficiency, but faces challenges in maintaining profit margins and cash flow stability. The balance sheet remains robust with low leverage, providing a solid foundation for future growth. Continued focus on cost management and cash flow improvement will be crucial for sustaining financial health.

Income Statement

Industrie De Nora SpA shows strong revenue growth with a TTM increase of 45.8%, indicating robust demand. However, there is a decline in profit margins, with the gross profit margin dropping from 56.43% to 49.57% and net profit margin from 9.67% to 8.97% in the TTM. This suggests rising costs or pricing pressures. Despite this, EBIT and EBITDA margins remain healthy, reflecting operational efficiency.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.16 in the TTM, indicating prudent financial management. Return on equity is stable at 8.46%, though it has decreased from previous years, suggesting a need for improved profitability. The equity ratio is strong, highlighting financial stability and low leverage risk.

Cash Flow

Cash flow analysis reveals challenges, with a significant decline in free cash flow growth by 44.41% in the TTM. The operating cash flow to net income ratio is moderate at 0.41, indicating adequate cash generation relative to net income. However, the free cash flow to net income ratio has decreased, suggesting potential liquidity constraints.

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	304.63M	154.97M	124.45M	76.51M
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: 7.30
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 7.3 is above the 20-day moving average (MA) of 7.02, below the 50-day MA of 7.30, and above the 200-day MA of 6.88, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 59.35 is Neutral, neither overbought nor oversold. The STOCH value of 92.56 is Negative, 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
CEM	75 Outperform	€2.95B	16.46	10.89%	1.48%	0.39%	-14.36%
NDT	75 Outperform	€51.96M	7.16	―	4.08%	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DNR	63 Neutral	€1.47B	15.83	―	1.42%	7.83%	8.60%

Industrie De Nora SpA Corporate Events

De Nora Enhances Financial Flexibility with New Credit Line and Debt Repayment

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 Nora’s financial flexibility, reduces debt costs, and supports its development strategies. The new credit line, backed by major banks, includes potential integration of ESG KPIs, reinforcing De Nora’s commitment to sustainability. The early repayment was funded through the company’s available liquidity, reflecting its strong financial management.

Industrie De Nora Achieves Strong Growth and Green Hydrogen Milestone

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 supplying 2.2 GW of green hydrogen technologies for the NEOM project in Saudi Arabia, positioning itself as a key player in the green hydrogen industry. This achievement is expected to contribute significantly to global decarbonization efforts and enhance De Nora’s competitive positioning in a market poised for growth.

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.