Iren S.p.A. (IT:IRE)
:IRE
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Iren S.p.A.
(IRE)
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Rating:67Neutral
Price Target:
€3.00
▲(16.28% Upside)
Action:Reiterated
Date:05/18/26
The score is supported primarily by attractive valuation (low P/E and strong dividend yield) and stable technical positioning. It is tempered by financial-performance risks: contracting revenue, high/variable debt levels, and notably weak/volatile free cash flow despite strong operating cash generation.
Positive Factors
Diversified utility model
Iren's mix of regulated networks, retail supply, generation, water and waste services spreads revenue across monopolistic concessions and competitive markets. That diversification reduces single-segment volatility, supports steadier cash flows under different cycles and aids mid-term resilience.
Negative Factors
Revenue contraction
A mid-single-digit TTM revenue decline reduces top-line scale and can compress discretionary margins over time. Sustained contraction pressures ability to fund capex from operations and can magnify exposure to competitive retail market dynamics and weaker demand trends over several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified utility model
Iren's mix of regulated networks, retail supply, generation, water and waste services spreads revenue across monopolistic concessions and competitive markets. That diversification reduces single-segment volatility, supports steadier cash flows under different cycles and aids mid-term resilience.
Read all positive factors
Iren S.p.A. (IRE) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€3.48B
Dividend Yield5.06%
Average Volume (3M)907.90K
Price to Earnings (P/E)6.2
Beta (1Y)0.49
Revenue Growth-5.65%
EPS Growth4.14%
CountryIT
Employees11,133
SectorGeneral
Sector StrengthN/A
IndustryDiversified Utilities
Share Statistics
EPS (TTM)0.23
Shares Outstanding1,300,931,400
10 Day Avg. Volume933,720
30 Day Avg. Volume907,905
Financial Highlights & Ratios
PEG Ratio1.15
Price to Book (P/B)1.11
Price to Sales (P/S)0.51
P/FCF Ratio62.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€2.90Price Target Upside12.40% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.24
Revenue Forecast (FY)€6.87B
Iren S.p.A. Business Overview & Revenue Model
Company Description
Iren SpA, together with its subsidiaries, operates as a multi-utility company in Italy. It operates through Networks, Waste Management, Energy, Market, and Other Services segments. The company produces and distributes electricity primarily from hy...
How the Company Makes Money
Iren makes money by operating across several utility value chains, combining regulated network/service revenues with market-based sales.
1) Energy sales (electricity and natural gas): Iren earns revenue by selling electricity and gas to retail an...
Iren S.p.A. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
52
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.05B | 6.43B | 5.95B | 6.41B | 7.75B | 4.91B |
| Gross Profit | 2.22B | 2.63B | 1.92B | 1.86B | 1.56B | 1.54B |
| EBITDA | 1.26B | 1.12B | 1.23B | 1.09B | 982.53M | 955.52M |
| Net Income | 293.55M | 300.55M | 268.47M | 254.84M | 226.02M | 303.17M |
Balance Sheet | ||||||
| Total Assets | 12.47B | 12.13B | 12.21B | 11.69B | 11.72B | 10.31B |
| Cash, Cash Equivalents and Short-Term Investments | 333.13M | 231.76M | 326.57M | 436.13M | 788.40M | 606.89M |
| Total Debt | 4.72B | 5.10B | 614.15M | 653.91M | 106.62M | 3.94B |
| Total Liabilities | 8.63B | 8.91B | 8.87B | 8.44B | 8.53B | 7.36B |
| Stockholders Equity | 3.58B | 2.96B | 2.88B | 2.81B | 2.75B | 2.57B |
Cash Flow | ||||||
| Free Cash Flow | 11.30M | 52.46M | 252.96M | -186.31M | 185.49M | 192.70M |
| Operating Cash Flow | 941.81M | 977.87M | 1.08B | 680.29M | 1.08B | 950.47M |
| Investing Cash Flow | -909.16M | -891.24M | -901.04M | -886.62M | -1.14B | -811.79M |
| Financing Cash Flow | -73.15M | -207.43M | -291.70M | -145.95M | 240.56M | -421.96M |
Iren S.p.A. Technical Analysis
Positive
2.58
Price Trends
2.58
Positive
2.64
Positive
2.62
Positive
Market Momentum
0.03
Negative
61.91
Neutral
68.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IRE, the sentiment is Positive. The current price of 2.58 is below the 20-day moving average (MA) of 2.64, above the 50-day MA of 2.58, and below the 200-day MA of 2.62, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 61.91 is Neutral, neither overbought nor oversold. The STOCH value of 68.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:IRE.
Iren S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | €3.48B | 6.17 | 9.06% | 5.06% | -5.65% | 4.14% | |
62 Neutral | €7.11B | 8.80 | 13.08% | 4.37% | 9.30% | -14.17% | |
62 Neutral | €98.20B | 13.03 | 23.22% | 5.05% | -3.07% | -42.04% | |
60 Neutral | €4.85B | 10.72 | 14.57% | 4.33% | -43.87% | 42.07% | |
58 Neutral | €5.68B | 9.49 | 13.30% | 3.76% | -13.76% | -9.67% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:IRE
Iren S.p.A.
2.73
0.20
8.04%
IT:A2A
A2A SpA
2.28
0.12
5.65%
IT:ACE
ACEA SPA
23.30
2.62
12.68%
IT:EDNR
Edison Spa
2.06
0.19
10.34%
IT:ENEL
Enel S.p.A.
9.76
2.13
27.97%
IT:HER
HERA S.p.A.
3.89
-0.24
-5.86%
Iren S.p.A. Corporate Events
Iren posts solid Q1 2026 results and confirms growth guidance
May 11, 2026
Iren reported first-quarter 2026 EBITDA of €418 million, essentially flat year-on-year, supported by organic growth in regulated activities, €4 million in synergies and improved waste treatment margins, while energy supply was hit by l...
Iren Files Governance and Financial Documents Ahead of May 2026 Shareholders’ Meeting
Apr 21, 2026
Iren S.p.A. has made available documentation for its Ordinary Shareholders’ Meeting scheduled for 21 May 2026, including the 2025 Integrated Annual Report, the 2026 remuneration policy and 2025 remuneration report, and the 2025 corporate gov...
Iren Calls 2026 Shareholders’ Meeting With Remote-Only Participation
Apr 14, 2026
Iren S.p.A. has convened its Ordinary Shareholders’ Meeting for 21 May 2026 in Parma, to be held in a single call and focused on approval of the 2025 financial statements, profit allocation, and remuneration reports. The agenda includes exam...
Iren lifts profit, investment and dividend as regulated and green businesses expand
Mar 23, 2026
Iren reported strong 2025 results, with EBITDA rising 6% to €1.353 billion and net profit up 12% to €301 million, helped by organic growth, the early consolidation of Egea and an efficiency plan. Net financial debt increased modestly t...
EIB grants €225 million to Iren for circular economy and energy-efficiency push
Mar 12, 2026
The European Investment Bank has granted Iren a €225 million loan to support its 2025–2028 investment plan aimed at modernizing urban waste management and improving energy efficiency in public and private buildings across Italy. The pr...
Gruppo Iren Updates 2026 Corporate Calendar and Sets Indicative Dividend Timeline
Feb 26, 2026
Gruppo Iren has updated its 2026 corporate events calendar, moving the Board of Directors meeting to approve the quarterly results as of 31 March 2026 to 11 May from the previously scheduled 15 May, while confirming key dates for full-year 2025 re...
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.