Inwit (IT:INW)
:INW
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Inwit
(INW)
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Rating:64Neutral
Price Target:
€8.00
▲(6.95% Upside)
Action:ReiteratedDate:12/11/25
Inwit's overall score of 64 is primarily driven by strong financial performance with high profitability and cash flow growth, though limited revenue expansion and moderate leverage are concerns. Bearish technical indicators signal a downward trend, while fair valuation and a high dividend yield provide some support. Cautious earnings guidance further tempers the outlook.
Positive Factors
Revenue Growth
Consistent revenue and EBITDA growth indicate strong market demand and effective operational management, supporting long-term stability.
Negative Factors
Postponed Projects
Postponement of projects could delay revenue growth and impact strategic objectives, reflecting challenges in executing planned expansions.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent revenue and EBITDA growth indicate strong market demand and effective operational management, supporting long-term stability.
Read all positive factors
Inwit (INW) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€6.65B
Dividend Yield6.48%
Average Volume (3M)1.38M
Price to Earnings (P/E)24.5
Beta (1Y)0.49
Revenue Growth5.02%
EPS Growth4.60%
CountryIT
Employees328
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.10
Shares Outstanding931,890,000
10 Day Avg. Volume1,205,163
30 Day Avg. Volume1,382,334
Financial Highlights & Ratios
PEG Ratio4.66
Price to Book (P/B)2.25
Price to Sales (P/S)8.84
P/FCF Ratio19.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€9.20Price Target Upside22.99% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.41
Revenue Forecast (FY)€1.09B
Inwit Business Overview & Revenue Model
Company Description
Infrastrutture Wireless Italiane S.p.A. operates in the electronic communications infrastructure sector in Europe. The company offers infrastructure hosting equipment for radio broadcasting, telecommunications, and television, and radio signal bro...
How the Company Makes Money
Inwit generates revenue primarily through the leasing of its tower and site infrastructure to mobile network operators. The company has a diversified revenue model that includes long-term lease contracts with telecom companies, which pay fees for ...
Inwit Earnings Call Summary
Earnings Call Date:Apr 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call presented a balance of operational and financial resilience (revenue and EBITDA growth, improved tenancy, strong cash generation and confirmed dividend) alongside material industry and customer risks (anchor MSA termination notices, withheld discretionary spending, Q4 slowdown and rating watch). Management reiterated guidance and a medium‑term baseline that preserves dividends and balance‑sheet targets, while noting downside legal/regulatory risks and near‑term elevated CapEx. Overall the positives (delivered guidance, asset growth, cash generation and clear financial policy) outweigh the negatives, though the anchor disputes and discretionary revenue pull‑back create notable near‑term uncertainty.Positive Updates
Revenue Growth
FY2025 revenues increased by 4% year‑on‑year, with 2026 guidance reiterating revenues in the range of EUR 1.050bn to EUR 1.09bn.
Negative Updates
Anchor Tenant Dispute and MSA Termination Notices
Anchor tenant (TIM) sent early termination notices for MSAs; management frames these as outside the legal framework but has initiated legal responses—introduces contract and industry risk and ongoing tensions with key customers.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth
FY2025 revenues increased by 4% year‑on‑year, with 2026 guidance reiterating revenues in the range of EUR 1.050bn to EUR 1.09bn.
Read all positive updates
Company Guidance
INWIT reiterated 2026 guidance of revenues EUR 1.050–1.090 billion, EBITDA margin ≈90% (EBITDA after leases >72%), recurring free cash flow EUR 550–590 million, dividend per share at least EUR 0.55, leverage around 5.5x (structural target 5–6x), and elevated 2026 CapEx ≈EUR 270 million (phasing of next‑gen EU cash CapEx, Roma Smart City, land and energy programs); the medium‑term baseline assumes low single‑digit annual revenue growth (~3%, ~50% inflation‑linked), ~4% annual EBITDA growth, all‑in annual CapEx ≈EUR 200 million (≈35% for land, maintenance ≈EUR 20 million), and keeps DPS ≥EUR 0.55. For context, 2025 results showed revenues +4%, EBITDA +4.8% with a 73% EBITDA margin (+0.5 pp), recurring FCF EUR 634 million, leverage 5.2x (after extraordinary shareholder remuneration including a EUR 300M buyback and EUR 200M special dividend on top of a EUR 500M ordinary dividend), ~800 new sites in 2025 (total ~26,000), +2,800 PoPs, tenancy ratio 2.4x, 1,600 real‑estate transactions, ROCE >8%, and an 85% fixed / 15% floating debt profile with average cost ~3% and average bond maturity ~4.5 years.Inwit Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
65
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.07B | 1.04B | 960.29M | 852.99M | 785.15M | 663.41M |
| Gross Profit | 1.03B | 982.97M | 915.23M | 809.47M | 739.95M | 624.27M |
| EBITDA | 968.25M | 941.54M | 874.67M | 773.16M | 709.98M | 600.02M |
| Net Income | 365.27M | 353.90M | 339.50M | 293.34M | 191.40M | 156.67M |
Balance Sheet | ||||||
| Total Assets | 9.39B | 9.48B | 9.35B | 9.26B | 9.36B | 9.09B |
| Cash, Cash Equivalents and Short-Term Investments | 32.35M | 115.13M | 95.08M | 72.85M | 96.32M | 120.21M |
| Total Debt | 5.01B | 4.64B | 4.30B | 4.15B | 4.15B | 3.83B |
| Total Liabilities | 5.79B | 5.40B | 5.01B | 4.80B | 4.88B | 4.50B |
| Stockholders Equity | 3.59B | 4.08B | 4.34B | 4.47B | 4.48B | 4.58B |
Cash Flow | ||||||
| Free Cash Flow | 519.42M | 469.00M | 511.73M | 431.95M | 49.44M | 397.33M |
| Operating Cash Flow | 777.15M | 762.86M | 811.20M | 686.97M | 217.82M | 486.63M |
| Investing Cash Flow | -266.83M | -302.72M | -269.86M | -254.56M | -168.31M | -2.21B |
| Financing Cash Flow | -535.28M | -441.20M | -519.13M | -455.88M | -73.40M | 1.77B |
Inwit Technical Analysis
Negative
7.48
Price Trends
7.91
Negative
7.78
Negative
8.78
Negative
Market Momentum
-0.17
Negative
48.25
Neutral
80.41
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:INW, the sentiment is Negative. The current price of 7.48 is above the 20-day moving average (MA) of 7.17, below the 50-day MA of 7.91, and below the 200-day MA of 8.78, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 48.25 is Neutral, neither overbought nor oversold. The STOCH value of 80.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:INW.
Inwit Peers Comparison
UnderperformOutperform
Sector (55)
IT:INW
Inwit
7.49
-1.77
-19.09%
IT:RWAY
Rai Way S.p.A.
6.03
0.67
12.52%
IT:TIT
Telecom Italia SPA
0.66
0.34
104.67%
Inwit Corporate Events
INWIT Reports Revenue Growth and Infrastructure Expansion Amid Telecom Market Challenges
Nov 10, 2025
INWIT reported a 4.1% increase in revenue for Q3 2025, driven by new hostings, indoor coverages, and inflation adjustments. Despite the challenging telecom market, INWIT continues to invest in infrastructure, adding 180 new towers and updating its...
Morgan Stanley Engages in Significant Trading of INWIT Shares
Nov 5, 2025
Morgan Stanley Co. International PLC has conducted multiple transactions involving shares of Infrastrutture Wireless Italiane S.p.A. on various European markets, including Euronext Milano, CBOE Europe DXE, Turquoise Europe, and Aquis Exchange EU....
INWIT Successfully Completes Bond Repurchase Offer
Oct 13, 2025
INWIT successfully concluded a bond repurchase offer, accepting 526.7 million euros worth of bonds maturing in 2026, which represents 75.25% of the remaining bonds in circulation. This move follows the issuance of a sustainability-linked bond and ...
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.