Interpump Group SPA (IP) AI Stock Analysis

• Market Cap: €4.31B
• Dividend Yield: 0.72%
• Average Volume (3M): 228.78K
• Price to Earnings (P/E): 20.7
• Beta (1Y): 1.21
• Revenue Growth: -2.00%
• EPS Growth: 2.11%
• Country: IT
• Employees: 9,069
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.34
• Shares Outstanding: 108,879,295
• 10 Day Avg. Volume: 264,185
• 30 Day Avg. Volume: 228,779
• PEG Ratio: -3.17
• Price to Book (P/B): 2.37
• Price to Sales (P/S): 2.40
• P/FCF Ratio: 21.28
• 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: €45.72
• Price Target Upside: 13.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: €45.00 ▲(12.05% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is primarily supported by solid financial health (durable profitability and improving leverage) despite softer earnings versus 2023 and uneven cash conversion. Technicals are mixed with near-term weakness/oversold signals, and valuation looks reasonable but not compelling given the low dividend yield.

Positive Factors

Improving leverage

Interpump has steadily reduced leverage and lowered total debt into 2025 (€707M vs. €802M in 2024), alongside equity growth. That durable balance-sheet repair increases financial flexibility, lowers refinancing risk and supports capital allocation for capex, M&A or cyclical downturns over coming months.

Healthy sector margins

Margins remain robust compared with industrial peers, reflecting product mix, pricing power and manufacturing scale. Sustainable gross and EBITDA margins provide a buffer against input cost swings and support mid-term earnings resilience despite top-line variability.

Diversified revenue model

Multiple revenue streams—OEM contracts, aftermarket parts and international distribution—reduce reliance on any single end market. This structural diversification improves revenue durability, supports higher recurring aftermarket margins and helps absorb regional or sectoral demand shocks over months.

Negative Factors

Uneven cash conversion

Operating cash and free cash flow are positive but volatile, driven by working-capital swings and capex timing. This uneven conversion reduces predictability of internal funding for dividends, buybacks or acquisitions and raises execution risk for multi-quarter investment plans.

Declining earnings and EBIT

Earnings and operating profit have trended down from prior peaks despite recent top-line pickup, implying margin pressure or weaker operating leverage. Persisting EBITDA/EPS erosion would strain return metrics and could signal structural competitiveness or cost base misalignment.

Top-line volatility

Reported revenue growth metrics show large swings, reflecting uneven end-market demand and cyclicality in industrial customers. Continued top-line volatility impairs visibility for investment and working-capital planning and increases execution risk for margin recovery initiatives.

Interpump Group SPA Business Overview & Revenue Model

Company Description

Interpump Group S.p.A. manufactures and markets high pressure plunger pumps in Italy, rest of Europe, North America, the Far East, Oceania, and internationally. It operates in two segments, Hydraulic Sector and Water Jetting Sector. The Hydraulic Sector segment produces and sells power take-offs that transmit drive from an industrial vehicle engine or transmission through hydraulic components; hydraulic cylinders that are components of hydraulic systems of various vehicle types; front-end and underbody cylinders for use in industrial vehicles in the construction sector; double acting cylinders, which are used in a range of applications, such as earthmoving and agricultural machinery, cranes and truck cranes, waste compactors, etc.; hydraulic hoses and fittings that are used in hydraulic equipment and water systems; and pumps, directional controls, valves, other hydraulic components, and ancillary products. The Water Jetting Sector segment provides high pressure pumps and systems that are used in a range of industrial sectors for the conveyance of fluids. This segment's high pressure plunger pumps are the primary components of pressure washers, as well as used for car wash installations, forced lubrication systems for machine tools, and inverse osmosis systems for seawater desalination plants. Its very high-pressure pumps and systems used for cleaning surfaces, ship hulls, and various hoses; removing machining burr; cutting and removing cement, asphalt, and paint coatings from stone, cement, and metal surfaces; and cutting solid materials. This segment also engages in drawing, blanking, and pressing sheet metals; and providing high pressure homogenizers, mixers, agitators, piston pumps, valves, and other machines for use in the food processing, chemicals, cosmetics, and pharmaceutical industries. The company was founded in 1977 and is based in Sant'Ilario d'Enza, Italy.

How the Company Makes Money

Interpump Group generates revenue primarily through the sale of its high-pressure pumps and hydraulic components. The company's revenue model is centered on manufacturing and distributing a diverse range of products that serve various industrial sectors. Key revenue streams include direct sales to OEMs (Original Equipment Manufacturers), aftermarket services, and international distribution partnerships. Significant collaborations with other industrial players and a strong presence in global markets help bolster its sales. Additionally, Interpump Group benefits from a reputation for quality and innovation, allowing it to maintain premium pricing on its products and secure long-term contracts with large clients.

Interpump Group SPA Financial Statement Overview

Summary

Solid fundamentals: healthy sector-level margins and improving leverage (debt-to-equity down to ~0.40 in 2024, total debt declining into 2025). Offsetting this, net income and EBIT have stepped down from the 2023 peak, and cash conversion/free-cash-flow growth has been volatile.

Income Statement

Revenue scale is solid (~€2.1B in 2025) with a strong rebound in 2025 revenue growth (+22.6%) after a softer 2024 (-7.2%). Profitability is consistently healthy for the sector (2024 gross margin ~34%, EBITDA margin ~21.7%, net margin ~10.9%), but earnings have been choppy: net income stepped down from 2023 (€274M) to 2024 (€227M) and 2025 (€208M), and EBIT also declined in 2024–2025 vs. 2023—suggesting margin/operating leverage pressure despite the 2025 top-line acceleration.

Balance Sheet

Leverage appears moderate and improving, with debt-to-equity declining from ~0.63 (2021) to ~0.46 (2023) to ~0.40 (2024), alongside growing equity (€1.14B in 2020 to €2.10B in 2025). Returns on equity have been respectable (~11% in 2024; ~15% in 2023), though easing versus peak years. Overall asset base is stable (~€3.4B in 2024–2025), and total debt has trended down into 2025 (€707M vs. €802M in 2024), reducing balance-sheet risk.

Cash Flow

Cash generation is generally positive with operating cash flow in the €200M–€360M range and free cash flow positive each year. That said, cash conversion is uneven: in 2024, operating cash flow covered about half of net income and free cash flow was ~64% of net income, both below stronger conversion seen earlier (e.g., 2021). Free cash flow growth is volatile (notably weak in 2022, strong recovery in 2023–2025), which points to swings in working capital and/or capital spending that can make near-term cash outcomes less predictable.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.07B	2.08B	2.24B	2.08B	1.60B
Gross Profit	730.77M	713.65M	779.97M	724.51M	574.69M
EBITDA	453.32M	450.93M	520.21M	471.47M	359.23M
Net Income	208.12M	227.06M	274.27M	266.50M	195.88M
Balance Sheet
Total Assets	3.40B	3.39B	3.24B	3.13B	2.77B
Cash, Cash Equivalents and Short-Term Investments	415.70M	392.64M	334.48M	358.27M	349.01M
Total Debt	706.80M	801.68M	820.98M	899.23M	843.27M
Total Liabilities	1.29B	1.37B	1.44B	1.56B	1.43B
Stockholders Equity	2.10B	2.01B	1.79B	1.55B	1.33B
Cash Flow
Free Cash Flow	233.98M	228.46M	164.23M	71.31M	250.09M
Operating Cash Flow	335.42M	357.65M	332.55M	203.87M	257.23M
Investing Cash Flow	-131.07M	-216.13M	-199.50M	-165.46M	-411.15M
Financing Cash Flow	-171.95M	-64.66M	-175.20M	-52.95M	157.06M

Interpump Group SPA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 40.16
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IP, the sentiment is Negative. The current price of 40.16 is below the 20-day moving average (MA) of 46.27, below the 50-day MA of 46.44, and below the 200-day MA of 40.56, indicating a bearish trend. The MACD of -1.81 indicates Positive momentum. The RSI at 32.65 is Neutral, neither overbought nor oversold. The STOCH value of 12.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:IP.

Interpump Group SPA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DANR	79 Outperform	€4.28B	15.56	8.18%	0.92%	-1.69%	-7.64%
DAN	79 Outperform	€4.28B	22.29	8.18%	0.62%	-1.69%	-7.64%
IP	69 Neutral	€4.31B	20.71	10.99%	0.72%	-2.00%	2.11%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SAB	60 Neutral	€172.63M	36.54	3.03%	4.22%	3.13%	-57.84%
BSS	56 Neutral	€166.61M	-22.45	-2.86%	0.57%	-10.59%	-132.80%