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

• Market Cap: €1.15B
• Dividend Yield: 1.65%
• Average Volume (3M): 91.38K
• Price to Earnings (P/E): 24.2
• Beta (1Y): 0.45
• Revenue Growth: 7.76%
• EPS Growth: -7.28%
• Country: IT
• Employees: 3,872
• Sector: Consumer Cyclical
• Sector Strength: 72
• Industry: Household & Personal Products
• EPS (TTM): 0.17
• Shares Outstanding: 96,364,020
• 10 Day Avg. Volume: 108,414
• 30 Day Avg. Volume: 91,379
• PEG Ratio: -3.73
• Price to Book (P/B): 2.81
• Price to Sales (P/S): 1.26
• P/FCF Ratio: 13.48
• 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: €17.64
• Price Target Upside: 47.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 63 Neutral
• Price Target: €12.50 ▲(4.87% Upside)

Intercos S.p.A. shows strength in financial performance with robust revenue growth and profitability. However, the technical analysis indicates bearish momentum, and the valuation metrics suggest fair valuation without significant upside. The absence of recent earnings call data limits insights into future guidance and sentiment.

Positive Factors

Earnings

Beating consensus on sales & margin is a good result.

Financial Performance

Intercos finished FY24 on a strong note, with growth in particular continuing to outperform a weaker underlying market.

Partnerships

ICOS can benefit from their partnerships with local brands in markets like China.

Negative Factors

Demand

Weaker than expected demand from EMEA based 'emerging' customers weighs on expected sales growth.

Inventory

Customers are slimming down inventories ahead of tariff impact uncertainties.

Sales Growth

The company now sees full-year organizational sales up approximately 3% versus the prior 5-7%.

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 S.p.A. generates revenue primarily through its comprehensive product development and manufacturing services offered to beauty brands worldwide. The company operates a business-to-business (B2B) model, collaborating with top-tier beauty companies to create and produce a diverse array of cosmetic and skincare products. Key revenue streams include the sale of manufactured products, research and development services, and innovative formula development. Intercos's ability to offer customized solutions and stay at the forefront of beauty trends enhances its appeal to clients, contributing significantly to its earnings. Strategic partnerships and collaborations with leading beauty brands further bolster its revenue potential.

Intercos S.p.A. Financial Statement Overview

Summary

Intercos S.p.A. exhibits strong revenue growth and solid profitability margins. The balance sheet is stable, with manageable leverage. However, there is a need to improve the equity ratio and optimize capital expenditures to enhance free cash flow.

Income Statement

Intercos S.p.A. has demonstrated strong revenue growth with a notable increase in total revenue from the previous year. The gross profit margin and net profit margin remain solid, indicating efficient cost management. The EBIT and EBITDA margins are healthy, reflecting strong operating performance. However, there was a slight decrease in EBIT, which warrants attention.

Balance Sheet

The company's balance sheet shows a stable equity position with a positive trend in stockholders' equity growth. The debt-to-equity ratio is relatively moderate, suggesting manageable leverage. Return on Equity (ROE) is robust, highlighting effective use of shareholder funds. However, the equity ratio indicates a lower proportion of equity in total assets, suggesting potential risk if liabilities increase.

Cash Flow

Intercos S.p.A. has shown strong operating cash flow, with a favorable operating cash flow to net income ratio. Free cash flow growth is evident, but the free cash flow to net income ratio suggests room for improvement in cash generation relative to profits. Overall, cash flow management appears sound, but attention to capital expenditures could enhance free cash flow further.

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

Intercos S.p.A. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.92
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 11.92 is below the 20-day moving average (MA) of 11.93, below the 50-day MA of 12.66, and below the 200-day MA of 13.31, indicating a bearish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 42.93 is Neutral, neither overbought nor oversold. The STOCH value of 86.36 is Negative, 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	63 Neutral	€1.15B	24.18		1.65%	7.76%	-7.28%
Sector *	61 Neutral	$16.54B	9.52	-9.03%	3.32%	1.52%	-24.21%
0GY8	―	€46.56M	3.29	17.31%	―	―	―
0P52	―	€762.11M	111.21	-20.18%	―	―	―
GM	―	€51.40M	61.48		―	―	―
PTR	―	€60.71M	3.05		―	―	―
RAT	―	€47.04M	―		―	―	―

Intercos S.p.A. Corporate Events

Intercos Releases Semi-Annual Financial Report for 2025

Intercos S.p.A. has announced the availability of its Semi-Annual Financial Report as of June 30, 2025, which was approved by the Board of Directors on August 4, 2025. This report is accessible to the public through various platforms, reflecting the company’s commitment to transparency and stakeholder engagement. This announcement underscores Intercos’s robust operational framework and its strategic positioning in the global cosmetics market.

The most recent analyst rating on (IT:ICOS) stock is a Buy with a EUR18.30 price target. To see the full list of analyst forecasts on Intercos S.p.A. stock, see the IT:ICOS Stock Forecast page.

Intercos S.p.A. Reports Strong H1 2025 Financial Performance

Intercos S.p.A. reported a 6.1% increase in sales at constant rates and a 16.5% rise in EBITDA for the first half of 2025, driven by strong makeup performance and improved profitability. Despite challenges in the global beauty market, the company maintained growth through strategic geographical diversification and efficient cost management, with Asia and America showing significant sales increases.

The most recent analyst rating on (IT:ICOS) stock is a Buy with a EUR18.30 price target. To see the full list of analyst forecasts on Intercos S.p.A. stock, see the IT:ICOS Stock Forecast page.

Intercos S.p.A. Publishes Updated Bylaws

Intercos S.p.A. has announced the publication of its updated Bylaws, now available to the public through various platforms including its website and the authorized storage mechanism ‘1INFO’. This update reflects the company’s commitment to transparency and governance, potentially impacting its operations and stakeholder relations by ensuring clarity and compliance with regulatory standards.

The most recent analyst rating on (IT:ICOS) stock is a Buy with a EUR18.10 price target. To see the full list of analyst forecasts on Intercos S.p.A. stock, see the IT:ICOS Stock Forecast page.

Intercos S.p.A. Releases Meeting Minutes to Public

Intercos S.p.A. has made available the minutes of its ordinary and extraordinary meeting held on April 16, 2025, to the public through various channels, including its registered office and official website. This announcement reflects the company’s commitment to transparency and effective communication with its stakeholders, reinforcing its position as a key player in the global cosmetics industry.

The most recent analyst rating on (IT:ICOS) stock is a Buy with a EUR18.10 price target. To see the full list of analyst forecasts on Intercos S.p.A. stock, see the IT:ICOS Stock Forecast page.

Intercos S.p.A. Reports Strong Q1 2025 Growth Amid Challenging Market Conditions

Intercos S.p.A. reported a strong performance in the first quarter of 2025, with net revenues increasing by 13.4% to €250.8 million and adjusted EBITDA growing by 40.6% to €29.3 million. The make-up segment was the main driver of growth, accounting for over 60% of total revenue, and all regions showed double-digit growth, particularly Asia. Despite challenging market conditions, especially in the USA and China, Intercos demonstrated resilience and a robust order trend, reinforcing its optimistic outlook.