Intercos S.p.A. (ICOS) AI Stock Analysis

• Market Cap: €1.11B
• Dividend Yield: 1.86%
• Average Volume (3M): 91.37K
• Price to Earnings (P/E): 23.4
• Beta (1Y): 0.47
• Revenue Growth: 9.02%
• EPS Growth: 4.80%
• Country: IT
• Employees: 3,872
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): N/A
• Shares Outstanding: 96,364,020
• 10 Day Avg. Volume: 77,170
• 30 Day Avg. Volume: 91,374
• PEG Ratio: -3.73
• Price to Book (P/B): 2.81
• Price to Sales (P/S): 1.26
• P/FCF Ratio: 24.45
• 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: €16.24
• Price Target Upside: 53.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: €13.00 ▲(22.87% Upside)

Intercos S.p.A. shows solid financial performance with consistent revenue growth and stable margins, which is the most significant factor in its score. Technical analysis indicates a bearish trend, and valuation metrics suggest moderate attractiveness. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates resilience and an ability to maintain market position in a competitive industry, supporting long-term stability.

Stable Profitability Margins

Stable margins suggest effective cost management and pricing strategies, which are crucial for sustaining profitability over time.

Improved Leverage

Improved leverage indicates stronger financial health and reduced risk, enhancing the company's ability to invest in growth opportunities.

Negative Factors

Declining Free Cash Flow Growth

A decline in free cash flow growth can limit the company's ability to reinvest in the business, potentially affecting future expansion and innovation.

Decreased EBIT and EBITDA Margins

Decreasing margins may signal rising costs or competitive pressures, which could impact profitability if not addressed effectively.

Cash Flow Management Challenges

Challenges in cash flow management can strain operational flexibility and limit the company's ability to respond to market changes.

Intercos S.p.A. Business Overview & Revenue Model

Company Description

Intercos S.p.A., together with its subsidiaries, manufactures and markets cosmetics for the treatment of skin, hair, and body care worldwide. The company offers foundation and concealers, face powders, eyeshadows, delivery systems and pencils, mascara, lipsticks and glosses, nail lacquers, face and eye care products, primers, skin perfectors, fixers and mists, masks, cleansing products, body and hair care, and grooming products. Intercos S.p.A. was founded in 1972 and is headquartered in Agrate Brianza, Italy.

How the Company Makes Money

Intercos generates revenue primarily through the manufacturing and sale of cosmetic products for third-party brands. The company's revenue model is based on contract manufacturing, where it partners with beauty brands to create bespoke products that meet market demands. Significant revenue streams include the production of skincare and makeup items, which are sold to major global brands in the beauty sector. Additionally, Intercos benefits from strategic partnerships with these brands, enabling it to leverage their market presence and distribution channels. The company also invests in research and development to innovate and expand its product offerings, which further contributes to its earnings by attracting new clients and retaining existing ones.

Intercos S.p.A. Financial Statement Overview

Summary

Intercos S.p.A. demonstrates solid financial health with consistent revenue growth and stable profitability margins. The balance sheet shows improved leverage, while cash flow management remains an area for improvement due to recent declines in free cash flow growth. Overall, the company is well-positioned but should focus on enhancing cash flow generation to support future growth.

Income Statement

Intercos S.p.A. shows a steady revenue growth with a TTM growth rate of 1.16%, indicating resilience in a competitive market. The gross profit margin remains stable at around 19.4%, and the net profit margin is consistent at approximately 4.6%. However, the EBIT and EBITDA margins have slightly decreased compared to previous years, suggesting potential cost pressures.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.60, reflecting better leverage management. Return on equity is healthy at 10.6%, indicating effective use of equity. However, the equity ratio is moderate, suggesting a balanced but cautious approach to asset financing.

Cash Flow

Operating cash flow remains positive, but free cash flow growth has declined by 9.23% in the TTM period, signaling potential challenges in cash generation. The operating cash flow to net income ratio is stable, but the free cash flow to net income ratio is high at 95.5%, indicating strong cash conversion despite recent declines.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.09B	1.06B	988.22M	59.79M	43.20M	606.51M
Gross Profit	218.90M	207.00M	199.38M	65.83M	48.04M	124.38M
EBITDA	122.65M	112.75M	127.15M	118.47M	38.61M	80.83M
Net Income	47.58M	48.52M	52.34M	5.20M	19.62M	38.42M
Balance Sheet
Total Assets	1.01B	1.05B	980.93M	488.97M	473.82M	871.49M
Cash, Cash Equivalents and Short-Term Investments	126.19M	190.00M	158.13M	53.56M	71.57M	225.42M
Total Debt	261.02M	288.30M	258.61M	224.94M	240.68M	404.09M
Total Liabilities	537.23M	570.70M	531.39M	266.46M	268.16M	601.76M
Stockholders Equity	465.58M	476.70M	447.50M	222.51M	205.67M	269.73M
Cash Flow
Free Cash Flow	82.60M	54.80M	48.22M	-4.04M	-6.30M	49.97M
Operating Cash Flow	89.48M	99.40M	103.18M	9.38M	4.31M	91.47M
Investing Cash Flow	-70.63M	-61.40M	-53.72M	-46.51M	-26.15M	-55.32M
Financing Cash Flow	-1.78M	-2.16M	-77.58M	8.25M	-1.55M	100.06M

Intercos S.p.A. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ICOS, the sentiment is Negative. The current price of 10.58 is below the 20-day moving average (MA) of 11.35, below the 50-day MA of 11.69, and below the 200-day MA of 12.40, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 34.64 is Neutral, neither overbought nor oversold. The STOCH value of 8.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:ICOS.

Intercos S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICOS	65 Neutral	€1.11B	23.41	―	1.86%	9.02%	4.80%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SFER	55 Neutral	€1.12B	-8.50	-20.18%	1.29%	-8.65%	-1512.63%
AEF	45 Neutral	€22.64M	2.02	17.31%	―	―	―

Intercos S.p.A. Corporate Events

Intercos S.p.A. Executes Share Buyback Program

Intercos S.p.A. has acquired 128,432 ordinary shares, representing 0.1333% of its share capital, at an average price of 11.4792 euros per share, totaling 1,474,293.52 euros. This purchase is part of a treasury share buyback program authorized by shareholders, enhancing the company’s financial strategy and potentially impacting its market positioning.

Intercos S.p.A. Completes Share Buyback Program

Intercos S.p.A. has executed a share buyback program, acquiring 125,900 ordinary shares, representing 0.1307% of its share capital, at an average price of 11.5717 euros per share. This move, authorized by the Shareholders’ Meeting, enhances the company’s control over its equity and potentially signals confidence in its market position.

Intercos S.p.A. Reports Strong EBITDA Growth Amid Market Challenges

Intercos S.p.A. reported a 12.3% increase in EBITDA for the first nine months of 2025, driven by strong performance in its make-up business unit and stable skincare trends, despite geopolitical and market challenges. The company’s strategic focus on profitability and expanding production capacity, particularly in Asia, positions it well for future growth, as it anticipates a recovery in the global beauty market.

Intercos S.p.A. Completes Share Buyback

Intercos S.p.A. has purchased 81,038 of its own ordinary shares, representing 0.0841% of its share capital, at an average price of 12.0976 euros per share, totaling 980,366.09 euros. This buyback is part of a program authorized by shareholders in April 2025, aiming to consolidate ownership and potentially enhance shareholder value.

Intercos S.p.A. Executes Share Buyback Program

Intercos S.p.A. announced the purchase of 94,021 ordinary shares on Euronext Milan, representing 0.0976% of its share capital, for a total value of 1,160,800.37 euros. This transaction is part of a share buyback program authorized by the shareholders, indicating a strategic move to consolidate ownership and potentially enhance shareholder value.

Intercos S.p.A. Executes Share Buyback Program

Intercos S.p.A. has announced the purchase of 41,829 ordinary shares on Euronext Milan, representing 0.0434% of its share capital, at an average price of 12.2606 euros per share. This transaction is part of a treasury share purchase program authorized by the shareholders, which could impact the company’s market positioning by potentially increasing shareholder value and influencing stock liquidity.

Intercos S.p.A. Launches Share Buyback Program and Appoints Interim CFO

Intercos S.p.A. has initiated a program to repurchase up to 4% of its own ordinary shares, with a maximum investment of 56 million euros. This move, approved by the Board of Directors, aims to support the company’s incentive plans and manage its securities warehouse. The program will be executed by Intermonte SIM S.p.A. and is subject to regulatory compliance, with a prohibition on trading the company’s stock during certain financial reporting periods. Additionally, Eng. Vittorio Brenna has been appointed as the interim Group Chief Financial Officer.