Indel B S.p.A. (INDB) AI Stock Analysis

• Market Cap: €110.50M
• Dividend Yield: 4.15%
• Average Volume (3M): 1.51K
• Price to Earnings (P/E): 4.4
• Beta (1Y): 0.19
• Revenue Growth: -5.58%
• EPS Growth: 165.78%
• Country: IT
• Employees: 843
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Consumer Electronics
• EPS (TTM): 3.88
• Shares Outstanding: 5,842,000
• 10 Day Avg. Volume: 1,057
• 30 Day Avg. Volume: 1,510
• PEG Ratio: 2.07
• Price to Book (P/B): 1.07
• Price to Sales (P/S): 0.67
• P/FCF Ratio: 12.33
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: €21.00 ▲(7.69% Upside)

The overall stock score is driven by a strong valuation with a low P/E ratio and attractive dividend yield, offset by challenges in financial performance, particularly in revenue growth and cash flow consistency. Technical analysis shows mixed signals, indicating potential stability but lacking strong momentum.

Positive Factors

Operational Efficiency

Stable margins indicate effective cost management and operational efficiency, which can support profitability even in challenging market conditions.

Market Reach

A robust distribution network and strategic partnerships expand market presence, facilitating revenue growth and competitive positioning across sectors.

Innovation and Quality

Focus on innovation and quality strengthens product offerings, enhancing customer satisfaction and loyalty, which supports long-term market competitiveness.

Negative Factors

Revenue Growth Challenges

Volatile revenue growth can hinder long-term planning and investment, potentially affecting market confidence and strategic initiatives.

Cash Flow Variability

Inconsistent free cash flow may limit the company's ability to invest in growth opportunities and manage financial obligations effectively.

Revenue Growth Decline

A negative revenue growth rate indicates a contraction in sales, which could impact the company's ability to sustain operations and invest in future growth.

Indel B S.p.A. Business Overview & Revenue Model

Company Description

Indel B S.p.A. manufactures and supplies cooling and refrigeration system worldwide. It offers mobile coolers and vehicle air conditioning systems for minibuses and industrial vehicles, as well as for special vehicles, such as ambulances, mobile clinics, civil protection vehicles, medicines transporting vehicles, and trams and trains; and refrigeration systems for the transport of foodstuffs at controlled temperatures. The company also engages in the production and marketing of a range of minibars equipped with the advanced technologies, as well as technological accessories, such as safes, electronic locks, and LED televisions for hotels and cruise ships. In addition, it is involved in the production of built-in or transportable coolers for sail and motorboats and yachts, as well as for leisure vehicles, such as cars, campers, caravans, and recreational vehicles. Further, it offers cooling appliances for wine market. The company was founded in 1967 and is based in Sant'Agata Feltria, Italy. Indel B S.p.A. is a subsidiary of Amp.Fin S.R.L.

How the Company Makes Money

Indel B generates revenue primarily through the sale of its cooling systems and components to various sectors, including automotive, recreational vehicles, and marine industries. The company has established key revenue streams from OEM partnerships, where it supplies integrated cooling solutions directly to vehicle manufacturers, and from aftermarket sales, where it offers products to consumers and businesses seeking replacement parts or upgrades. Additionally, Indel B invests in research and development to create innovative products that meet evolving market demands, contributing to its competitive edge and sustained income. Strategic collaborations with industry players and a focus on expanding its global footprint further enhance its revenue potential.

Indel B S.p.A. Financial Statement Overview

Summary

Indel B S.p.A. demonstrates operational efficiency with stable margins but faces challenges in revenue growth and cash flow consistency. The balance sheet is stable with moderate leverage, yet cash flow volatility could pose risk in financial flexibility.

Income Statement

The company's gross profit margin and net profit margin have shown stability over the years. However, recent revenue shows volatility with a decline from 2022 to 2023, impacting the overall growth trajectory. EBIT and EBITDA margins are healthy, indicating operational efficiency.

Balance Sheet

Indel B maintains a moderate debt-to-equity ratio, which suggests a balanced approach to leverage. While equity ratio is solid, the return on equity has shown fluctuations, primarily due to varying net income levels.

Cash Flow

Operating cash flow remains positive, but free cash flow has experienced significant variability. The operating cash flow to net income ratio is strong, yet the free cash flow to net income ratio indicates inconsistencies, reflecting potential cash flow management challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	197.53M	199.60M	221.16M	223.37M	185.81M	124.28M
Gross Profit	29.16M	11.40M	40.01M	62.34M	55.02M	37.11M
EBITDA	14.07M	19.70M	22.13M	25.62M	26.24M	16.95M
Net Income	23.21M	10.80M	10.44M	12.05M	24.25M	6.19M
Balance Sheet
Total Assets	260.98M	203.80M	221.87M	225.40M	211.45M	179.52M
Cash, Cash Equivalents and Short-Term Investments	31.84M	16.20M	34.38M	17.32M	24.19M	43.09M
Total Debt	59.82M	26.60M	41.95M	45.78M	36.94M	47.64M
Total Liabilities	120.92M	79.30M	94.77M	104.16M	97.77M	86.78M
Stockholders Equity	139.44M	124.50M	126.63M	120.91M	113.51M	92.67M
Cash Flow
Free Cash Flow	6.09M	10.80M	24.82M	-10.54M	-4.55M	10.01M
Operating Cash Flow	13.99M	19.50M	33.41M	-5.31M	5.57M	14.33M
Investing Cash Flow	-18.49M	-6.53M	-7.25M	-3.26M	-10.57M	-3.16M
Financing Cash Flow	11.20M	-29.04M	-9.00M	2.01M	-14.05M	11.49M

Indel B S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.50
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:INDB, the sentiment is Positive. The current price of 19.5 is above the 20-day moving average (MA) of 19.17, above the 50-day MA of 19.12, and above the 200-day MA of 19.19, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 55.58 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:INDB.

Indel B S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BEC	67 Neutral	€162.82M	14.39	21.11%	6.60%	-0.07%	-37.21%
INDB	66 Neutral	€110.50M	4.41	17.82%	4.15%	-5.58%	165.78%
CELL	65 Neutral	€58.43M	10.46	―	3.58%	―	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
GEO	43 Neutral	€115.89M	-4.38	-25.42%	―	-5.49%	-62.25%

Indel B S.p.A. Corporate Events

Indel B Adds to Treasury Stock with New Share Buyback Purchases

Indel B S.p.A. has continued its share buyback programme, purchasing 319 of its own ordinary shares on Euronext Milan between 24 and 30 December 2025 at a weighted average price of €19.3273, for a total outlay of €6,165.40. These latest acquisitions, executed through Intesa Sanpaolo’s IMI Corporate & Investment Banking Division under the mandate granted by the company, bring Indel B’s treasury share holding to 602,920 shares, signalling ongoing capital management activity that may support share liquidity and signal confidence in the company’s valuation to investors.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B Continues Treasury Share Buyback on Euronext Milan

Indel B S.p.A., a specialist in mobile refrigeration and air conditioning systems for automotive, leisure and hospitality markets, has continued to execute its treasury share buyback program authorized in May 2025 and launched in July 2025. Between 17 and 23 December 2025, the company repurchased 470 shares on Euronext Milan, equal to 0.008% of its ordinary share capital, at a weighted average price of €18.9818 for a total outlay of €8,921.45, bringing its total treasury holdings to 602,601 shares, a move that may support share liquidity management and capital structure optimization for shareholders.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Engages Investors at Milan Conference

Indel B S.p.A. announced its participation in the ‘Mid & Small Milan 2025 Conference’ to engage with Italian and international institutional investors. This event, organized by Virgilio IR, offers a platform for small and medium-sized enterprises to showcase their achievements and future strategies. Indel B’s CFO, Mirco Manganello, and Controller, Elisabetta Benazzi, will present the company’s recent results and development plans, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Releases Shareholders’ Meeting Minutes

Indel B S.p.A. announced the availability of the minutes from its Ordinary Shareholders’ Meeting held on December 1, 2025. This announcement underscores the company’s commitment to transparency and governance, potentially impacting its stakeholders by providing insights into corporate decisions and strategies.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Executes Share Buyback on Euronext Milan

Indel B S.p.A. announced the purchase of 950 of its own shares on Euronext Milan, as part of a buyback program authorized earlier in the year. This move, involving a total value of approximately Euro 18,060, reflects the company’s strategic efforts to manage its share capital and potentially enhance shareholder value.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Executes Share Buyback Program

Indel B S.p.A. announced the purchase of 750 of its own shares as part of a share buyback program, representing 0.013% of its total ordinary shares. This strategic move, executed on Euronext Milan, is part of a broader initiative to consolidate its market position and potentially enhance shareholder value.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Executes Share Buyback Program

Indel B S.p.A. announced the purchase of 2,276 of its own shares on Euronext Milan as part of a share buyback program approved by its shareholders. This move, involving a total value of Euro 43,929.15, is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B Announces Document Availability for Upcoming Shareholders’ Meeting

Indel B S.p.A. has announced the availability of documents related to its upcoming Ordinary Shareholders’ Meeting scheduled for December 1, 2025. These documents, including the Directors’ Explanatory Report, are accessible on the company’s website and through authorized storage mechanisms. This announcement ensures transparency and accessibility for stakeholders, reinforcing the company’s commitment to governance and shareholder engagement.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Calls for Ordinary Meeting to Appoint Auditors

Indel B S.p.A. has announced an ordinary meeting scheduled for December 1, 2025, to discuss the appointment of statutory auditors for the years 2026-2034. The meeting will be conducted exclusively via telecommunications, and shareholders are required to grant proxy to a designated representative to participate and vote on resolutions. This approach underscores the company’s commitment to maintaining structured governance and ensuring shareholder engagement in key financial decisions.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B Reports Strong Growth in Leisure and Cooling Sectors Amidst Automotive Stabilization

Indel B S.p.A. reported consolidated revenues of 156.8 million euros as of September 30, 2025, with significant growth in the Leisure and Cooling Appliances sectors. The Automotive sector, despite a decline, shows signs of stabilization, while the Hospitality sector also experienced positive results. The company continues to strengthen its market leadership and sees new opportunities for development and value creation for shareholders.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Announces Share Buyback Program

Indel B S.p.A. has announced the purchase of 1,539 of its own shares, representing 0.026% of its total ordinary shares, as part of a share buyback program initiated by the Board of Directors. The transaction, conducted on Euronext Milan, reflects the company’s strategic move to consolidate its shareholding, potentially enhancing shareholder value and signaling confidence in its market position.

The most recent analyst rating on (IT:INDB) stock is a Hold with a EUR21.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.

Indel B S.p.A. Executes Share Buyback Program

Indel B S.p.A. has announced the purchase of 650 of its own shares, representing 0.011% of the total ordinary shares, as part of a share buyback program approved earlier this year. This move, executed on Euronext Milan and facilitated by Intesa Sanpaolo, reflects the company’s strategic efforts to manage its equity structure and potentially enhance shareholder value.

The most recent analyst rating on (IT:INDB) stock is a Buy with a EUR22.00 price target. To see the full list of analyst forecasts on Indel B S.p.A. stock, see the IT:INDB Stock Forecast page.