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SECO S.p.A.
(IOT)
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Rating:62Neutral
Price Target:
€3.50
▲(4.17% Upside)
Action:Reiterated
Date:06/16/26
The score is driven primarily by solid financial momentum and cash-flow strength alongside manageable leverage, supported by bullish technical trend signals. These positives are materially offset by weak valuation metrics tied to ongoing net losses and historically volatile bottom-line performance.
Positive Factors
Revenue Growth
Sustained TTM revenue growth of 17.8% indicates durable demand for SECO’s embedded and edge-computing solutions across industrial and IoT end markets. Persistent top-line expansion supports scale, recurring services attach rates, and long-term customer relationships that underpin revenue visibility.
Negative Factors
Net Income Volatility
Persistent negative net income and historical volatility signal inconsistent bottom-line conversion despite strong operating margins. This undermines earnings predictability, complicates long-term planning for shareholder returns and makes profit recovery sensitive to non-operating items and cyclical demand shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth of 17.8% indicates durable demand for SECO’s embedded and edge-computing solutions across industrial and IoT end markets. Persistent top-line expansion supports scale, recurring services attach rates, and long-term customer relationships that underpin revenue visibility.
Read all positive factors
SECO S.p.A. (IOT) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€463.58M
Dividend YieldN/A
Average Volume (3M)297.44K
Price to Earnings (P/E)232.3
Beta (1Y)0.79
Revenue Growth8.45%
EPS Growth96.85%
CountryIT
Employees784
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)0.01
Shares Outstanding133,021,120
10 Day Avg. Volume264,927
30 Day Avg. Volume297,441
Financial Highlights & Ratios
PEG Ratio2.68
Price to Book (P/B)2.44
Price to Sales (P/S)3.37
P/FCF Ratio25.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€3.40Price Target Upside1.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.1
Revenue Forecast (FY)€217.19M
SECO S.p.A. Business Overview & Revenue Model
Company Description
Seco S.p.A. specializes in the development of embedded micro-computers, integrated systems, and Internet of Things (IoT) solutions. The company's comprehensive portfolio includes various modules, single-board computers, boxed systems, Human-Machin...
How the Company Makes Money
SECO makes money primarily by selling embedded and edge-computing hardware and by providing software and related services tied to deploying and operating connected devices at scale.
Key revenue streams:
1) Hardware sales (embedded/edge computing ...
SECO S.p.A. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 198.94M | 197.58M | 184.40M | 210.04M | 202.46M | 113.66M |
| Gross Profit | 116.29M | 34.58M | 93.52M | 55.38M | 77.51M | 41.70M |
| EBITDA | 128.81M | 32.01M | 20.72M | 48.62M | 39.66M | 16.35M |
| Net Income | -729.00K | -2.69M | -21.03M | 11.86M | 11.04M | 4.15M |
Balance Sheet | ||||||
| Total Assets | 501.69M | 486.08M | 490.93M | 538.50M | 495.23M | 403.50M |
| Cash, Cash Equivalents and Short-Term Investments | 64.77M | 68.69M | 72.58M | 74.82M | 39.59M | 58.83M |
| Total Debt | 118.64M | 115.94M | 125.08M | 139.90M | 168.39M | 168.30M |
| Total Liabilities | 204.77M | 191.62M | 199.20M | 226.00M | 258.68M | 240.50M |
| Stockholders Equity | 274.01M | 272.72M | 271.91M | 290.62M | 215.78M | 145.40M |
Cash Flow | ||||||
| Free Cash Flow | 28.15M | 25.73M | 14.41M | 5.98M | -11.51M | -40.00K |
| Operating Cash Flow | 36.84M | 34.79M | 34.89M | 25.69M | 6.76M | 13.61M |
| Investing Cash Flow | -27.95M | -26.02M | -20.20M | -19.99M | -18.42M | -143.81M |
| Financing Cash Flow | -7.11M | -12.86M | -18.13M | 30.73M | -7.06M | 164.72M |
SECO S.p.A. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €3.04B | 37.57 | 17.70% | 0.72% | 12.60% | 43.84% | |
62 Neutral | €463.58M | 232.33 | -0.27% | ― | 8.45% | 96.85% | |
62 Neutral | €692.48M | 69.67 | 43.87% | 0.99% | 1.27% | 11.09% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | €40.76B | 99.45 | 2.66% | 0.66% | 3.00% | -33.57% |
* Technology Sector Average
IT:IOT
SECO S.p.A.
3.49
1.09
45.21%
IT:STMMI
STMicroelectronics NV
45.68
24.14
112.05%
IT:CRL
Carel Industries SpA
27.05
2.81
11.59%
IT:WIIT
WIIT SpA
28.00
11.13
65.98%
IT:E9IA
e-Novia SpA
2.00
-0.10
-4.76%
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.