Intercos S.p.A. (IT:ICOS)
:ICOS
Want to see IT:ICOS full AI Analyst Report?
Top Page
Intercos S.p.A.
(ICOS)
Select Model
Select Model
Rating:63Neutral
Price Target:
€13.00
▲(6.56% Upside)
Action:ReiteratedDate:03/29/26
The score is primarily supported by improving margins and a healthier, moderating leverage profile, but tempered by inconsistent revenue/FCF trends. Technically, the stock is above major moving averages, yet momentum indicators are mixed, and valuation is only moderately attractive given a ~21 P/E and a modest ~1.6% yield.
Positive Factors
Improving profitability
Sustained margin expansion to mid‑teens EBITDA and ~9% EBIT signals improvements in cost structure, product mix and operational efficiency. Durable margins increase cash available for reinvestment, support competitiveness on service offerings, and reduce sensitivity to short revenue swings.
Negative Factors
Revenue volatility
Inconsistent top-line trends reduce visibility for production planning and capacity utilization, complicating long‑term client commitments and margin sustainability. Sustained volatility can force reactive cost changes or idle capacity, weakening reliability for brand partners over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability
Sustained margin expansion to mid‑teens EBITDA and ~9% EBIT signals improvements in cost structure, product mix and operational efficiency. Durable margins increase cash available for reinvestment, support competitiveness on service offerings, and reduce sensitivity to short revenue swings.
Read all positive factors
Intercos S.p.A. (ICOS) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€1.16B
Dividend Yield1.79%
Average Volume (3M)91.37K
Price to Earnings (P/E)21.3
Beta (1Y)0.41
Revenue Growth9.02%
EPS Growth4.80%
CountryIT
Employees3,872
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)0.38
Shares Outstanding96,394,560
10 Day Avg. Volume77,170
30 Day Avg. Volume91,374
Financial Highlights & Ratios
PEG Ratio5.32
Price to Book (P/B)2.19
Price to Sales (P/S)1.02
P/FCF Ratio17.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€16.10Price Target Upside31.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.72
Revenue Forecast (FY)€1.10B
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, mas...
How the Company Makes Money
Intercos makes money primarily by producing cosmetics for brand-owner customers and charging for the goods and services it delivers across the product lifecycle. Its core revenue stream is sales of finished cosmetic products manufactured on behalf...
Intercos S.p.A. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.09B | 1.05B | 1.06B | 988.22M | 59.79M | 43.20M |
| Gross Profit | 218.90M | 219.40M | 207.00M | 199.38M | 65.83M | 48.04M |
| EBITDA | 122.65M | 142.28M | 112.75M | 127.15M | 118.47M | 38.61M |
| Net Income | 47.58M | 50.10M | 48.52M | 52.34M | 5.20M | 19.62M |
Balance Sheet | ||||||
| Total Assets | 1.01B | 979.50M | 1.05B | 980.93M | 488.97M | 473.82M |
| Cash, Cash Equivalents and Short-Term Investments | 126.19M | 152.20M | 190.00M | 158.13M | 53.56M | 71.57M |
| Total Debt | 261.02M | 253.00M | 288.30M | 258.61M | 224.94M | 240.68M |
| Total Liabilities | 537.23M | 491.60M | 570.70M | 531.39M | 266.46M | 268.16M |
| Stockholders Equity | 465.58M | 485.60M | 476.70M | 447.50M | 222.51M | 205.67M |
Cash Flow | ||||||
| Free Cash Flow | 82.60M | 62.17M | 54.80M | 48.22M | -4.04M | -6.30M |
| Operating Cash Flow | 89.48M | 107.43M | 99.40M | 103.18M | 9.38M | 4.31M |
| Investing Cash Flow | -70.63M | -67.42M | -61.40M | -53.72M | -46.51M | -26.15M |
| Financing Cash Flow | -1.78M | -71.79M | -2.16M | -77.58M | 8.25M | -1.55M |
Intercos S.p.A. Technical Analysis
Positive
12.20
Price Trends
12.09
Negative
11.83
Positive
11.92
Positive
Market Momentum
0.04
Positive
50.48
Neutral
26.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ICOS, the sentiment is Positive. The current price of 12.2 is above the 20-day moving average (MA) of 12.03, above the 50-day MA of 12.09, and above the 200-day MA of 11.92, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 50.48 is Neutral, neither overbought nor oversold. The STOCH value of 26.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ICOS.
Intercos S.p.A. Peers Comparison
UnderperformOutperform
Sector (62)
IT:ICOS
Intercos S.p.A.
12.08
0.28
2.37%
IT:AEF
Aeffe S.p.A.
0.23
-0.38
-62.29%
IT:SFER
Salvatore Ferragamo S.p.A.
7.70
2.74
55.24%
IT:GM
Gentili Mosconi-s.P.A.
2.53
-0.01
-0.39%
IT:PTR
Pattern S.P.A
2.68
-2.52
-48.46%
IT:RAT
Ratti S.p.A.
1.20
-0.78
-39.39%
Intercos S.p.A. Corporate Events
Intercos Lifts Treasury Stake with Latest €1.3 Million Buyback Tranche
Mar 26, 2026
Intercos S.p.A. has continued its share buyback programme, repurchasing 114,300 ordinary shares between 19 and 25 March 2026 on regulated markets at a weighted average price of €11.7445, for a total outlay of about €1.34 million. The t...
Intercos Publishes 2025 Annual Report and Governance Documents Ahead of April Shareholders’ Meeting
Mar 25, 2026
Intercos S.p.A., a key global supplier to major beauty brands, has published its annual financial report for the year ended 31 December 2025, ahead of its ordinary and extraordinary shareholders’ meeting scheduled for 16 April 2026. The docu...
Intercos lifts treasury stake with latest €1.37 million share buyback
Mar 19, 2026
Intercos S.p.A. has continued its share buyback programme, repurchasing 118,075 ordinary shares between 12 and 18 March 2026 on regulated markets at a weighted average price of €11.6156, for a total outlay of about €1.37 million. The p...
Intercos Publishes Documentation for April 2026 Shareholders’ Meeting
Mar 16, 2026
Intercos S.p.A., the Italian-based parent of Intercos Group, has published documentation for its Ordinary and Extraordinary Shareholders’ Meeting scheduled for 16 April 2026, making reports and information materials available at its register...
Intercos Calls 2026 Shareholders’ Meeting to Approve Results, Incentive Plan and Share Buyback
Mar 16, 2026
Intercos has convened an ordinary and extraordinary shareholders’ meeting for 16 April 2026, to be held exclusively via telecommunication with participation only through a designated representative, in line with Italian securities regulation...
Intercos Increases Treasury Stake with New €1.27 Million Share Buyback
Mar 12, 2026
Intercos S.p.A. has continued its share buyback programme, repurchasing 105,078 ordinary shares on regulated markets between 5 and 11 March 2026 at a weighted average price of €12.0424, for a total outlay of about €1.27 million. The tr...
Intercos Updates By-laws After Partial Execution of Performance Share Capital Increase
Mar 12, 2026
Intercos S.p.A., a major global B2B cosmetics manufacturer specializing in make-up, skincare and hair and body care products for leading and emerging beauty brands, has built a sizeable international footprint with research centers, production pla...
Intercos Executive Sells Shares to Cover Taxes After Performance Share Allocation
Mar 9, 2026
Intercos has disclosed that Ludovica Arabella Ferrari, a director and Group Chief Innovation Officer classified as a relevant person, received 4,080 Intercos ordinary shares at no cost under the “Piano di Performance Shares Intercos 2023-202...
Intercos discloses broker-led purchase of own shares on Italian market
Mar 9, 2026
Intercos S.p.A., the Milan-based cosmetics manufacturer listed in Italy, disclosed a share transaction involving its own listed stock with ISIN IT0005455875. The filing reflects activity in February 2026 and underscores the company’s ongoing...
Intercos Updates Share Capital After Employee Bonus Share Allocation
Mar 6, 2026
Intercos S.p.A. has executed a bonus share capital increase linked to its 2023-2025 Performance Shares Plan for employees, issuing 30,544 new ordinary shares without nominal value. As a result, the fully paid-in share capital rose slightly to S...
Intercos Boosts Profitability in 2025 as Prestige Make-Up and Asia Drive Mix Upgrade
Mar 4, 2026
Intercos reported 2025 net revenues of €1,047.2 million, broadly flat at constant exchange rates but down at reported rates due to euro strength, while shifting its sales mix toward higher value-added products with less packaging. This strat...
Intercos Buys Back 90,500 Shares, Lifting Treasury Stake to 1.83%
Feb 5, 2026
Intercos S.p.A. has continued its share buyback programme, repurchasing 90,500 ordinary shares on regulated markets between 29 January and 4 February 2026 at a weighted average price of €12.6953, for a total outlay of about €1.15 milli...
Intercos Continues Share Buyback, Lifts Treasury Stake to 1.19%
Dec 31, 2025
Intercos S.p.A. has continued its approved share buyback program, repurchasing 49,167 ordinary shares on the market between 29 and 30 December 2025 at a weighted average price of €11.0704, for a total outlay of €544,296.86. These lates...
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.