Iveco Group NV (IT:IVG)
:IVG
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Iveco Group NV
(IVG)
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Rating:57Neutral
Price Target:
€19.50
▲(4.06% Upside)
Action:ReiteratedDate:03/14/26
The score is driven primarily by mixed financial performance: profitability and cash generation are positive, but recent revenue decline, margin compression, and high leverage weigh on quality. Technicals are neutral with the stock trading near key moving averages, and valuation appears fair rather than compelling based on the provided P/E and dividend yield.
Positive Factors
Operating cash generation
Consistently strong operating cash flow (roughly €1.1–€1.2B in 2024–2025) and a sharp FCF increase in 2025 provide durable internal funding. That cash base supports capex, technology investment, service network expansion and potential deleveraging through cycles, improving strategic optionality.
Negative Factors
Top-line decline
Sequential revenue declines (down ~7.3% YoY in 2025) signal weakening demand or loss of mix momentum. Persistent top-line contraction erodes operating leverage, limits capacity to scale higher-margin services, and constrains reinvestment and margin recovery over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating cash generation
Consistently strong operating cash flow (roughly €1.1–€1.2B in 2024–2025) and a sharp FCF increase in 2025 provide durable internal funding. That cash base supports capex, technology investment, service network expansion and potential deleveraging through cycles, improving strategic optionality.
Read all positive factors
Iveco Group NV (IVG) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€6.59B
Dividend Yield1.76%
Average Volume (3M)1.58M
Price to Earnings (P/E)17.5
Beta (1Y)1.12
Revenue Growth-7.26%
EPS Growth14.20%
CountryIT
Employees36,046
SectorIndustrials
Sector Strength72
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)0.50
Shares Outstanding271,215,400
10 Day Avg. Volume1,987,072
30 Day Avg. Volume1,584,130
Financial Highlights & Ratios
PEG Ratio-0.96
Price to Book (P/B)1.81
Price to Sales (P/S)0.37
P/FCF Ratio5.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.05
Revenue Forecast (FY)€15.27B
Iveco Group NV Business Overview & Revenue Model
Company Description
Iveco Group NV (IVG) is a leading global manufacturer of commercial vehicles, specializing in the production of light, medium, and heavy-duty trucks, vans, buses, and specialty vehicles. The company operates through several key sectors, including ...
How the Company Makes Money
Iveco Group makes money primarily by selling vehicles and powertrain products and by providing higher-margin lifecycle services tied to its installed base. Key revenue streams typically include: (1) Commercial vehicle sales: revenue from the sale ...
Iveco Group NV Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong performance in the bus and powertrain segments, with promising signs of recovery in engine volumes and a robust order book. However, significant challenges remain in the truck segment, particularly with light commercial vehicles, and overall financial performance has declined. The sentiment is balanced between positive long-term strategic moves and current operational challenges.Positive Updates
Bus Segment Performance
The bus segment showed strong performance with net revenues up 31.4% in Q3 2025, and deliveries increased by 20% compared to Q3 2024. Iveco Bus maintained its #2 position in the European market with a 21.3% market share year-to-date.
Negative Updates
Truck Segment Challenges
The truck net revenues totaled EUR 2 billion in Q3 2025, down 11% versus the prior year, mainly due to lower delivery rates in light-duty trucks and a challenging environment in the chassis cab subsegment.
Read all updates
Q3-2025 Updates
Positive
Negative
Bus Segment Performance
The bus segment showed strong performance with net revenues up 31.4% in Q3 2025, and deliveries increased by 20% compared to Q3 2024. Iveco Bus maintained its #2 position in the European market with a 21.3% market share year-to-date.
Read all positive updates
Company Guidance
During the Iveco Group conference call for the third quarter of 2025, the company highlighted several key metrics and strategic actions. Iveco reported consolidated net revenues of EUR 3.1 billion, reflecting a year-over-year contraction of 3.6%. The truck industry faced a challenging market, with European deliveries down 27% for light commercial vehicles, while the worldwide truck book-to-bill ratio improved by 25 basis points to 1.0. The bus unit saw a 31.4% increase in net revenues, boosted by higher volumes and a strong order book. In the powertrain sector, engine volumes showed a 1% increase, marking the first sign of recovery after a prolonged decline. The group's adjusted EBIT was EUR 111 million, with an adjusted EBIT margin of 3.6%. Iveco's financial guidance for 2025 includes adjusted EBIT between EUR 830 million and EUR 880 million and industrial net revenues expected to decline by 3% to 5% year-over-year. The company is also on track with its efficiency program, targeting EUR 150 million in CapEx and OpEx savings, and anticipates the completion of its defense business sale by the first half of 2026.Iveco Group NV Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
46
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.43B | 15.29B | 16.21B | 14.36B | 12.65B |
| Gross Profit | 2.10B | 2.65B | 2.70B | 1.97B | 1.77B |
| EBITDA | 1.42B | 1.50B | 1.26B | 992.00M | 837.00M |
| Net Income | 286.00M | 349.00M | 218.00M | 147.00M | 52.00M |
Balance Sheet | |||||
| Total Assets | 18.88B | 19.44B | 18.39B | 16.01B | 16.56B |
| Cash, Cash Equivalents and Short-Term Investments | 2.95B | 3.48B | 2.64B | 2.23B | 780.00M |
| Total Debt | 6.06B | 6.37B | 5.93B | 4.43B | 5.79B |
| Total Liabilities | 16.04B | 16.67B | 15.99B | 13.62B | 14.25B |
| Stockholders Equity | 2.77B | 2.70B | 2.35B | 2.35B | 2.29B |
Cash Flow | |||||
| Free Cash Flow | 849.00M | 248.00M | 366.00M | 630.00M | -25.00M |
| Operating Cash Flow | 1.11B | 1.20B | 1.34B | 1.41B | 539.00M |
| Investing Cash Flow | -655.00M | -284.00M | -2.22B | -1.34B | -45.00M |
| Financing Cash Flow | -629.00M | 68.00M | 1.49B | 1.34B | -88.00M |
Iveco Group NV Technical Analysis
Positive
18.74
Price Trends
19.00
Positive
18.81
Positive
18.28
Positive
Market Momentum
0.04
Negative
51.67
Neutral
56.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IVG, the sentiment is Positive. The current price of 18.74 is below the 20-day moving average (MA) of 19.09, below the 50-day MA of 19.00, and above the 200-day MA of 18.28, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 51.67 is Neutral, neither overbought nor oversold. The STOCH value of 56.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:IVG.
Iveco Group NV Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €4.03B | 14.26 | ― | 3.23% | -0.22% | -12.64% | |
69 Neutral | €3.48B | 23.93 | 10.16% | 0.72% | -2.00% | 2.11% | |
66 Neutral | €4.55B | 46.08 | 14.30% | ― | 18.44% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | €4.25B | 16.35 | 42.37% | 2.73% | 30.91% | 40.89% | |
58 Neutral | €2.27B | 7.65 | 15.02% | 2.32% | 21.15% | 17.26% | |
57 Neutral | €6.59B | 17.54 | ― | 1.76% | -7.26% | 14.20% |
* Industrials Sector Average
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Iveco Group NV Corporate Events
Iveco Group Files 2025 Annual Report in ESEF With Dutch Regulator
Mar 4, 2026
Iveco Group N.V. has filed its 2025 Annual Report in European Single Electronic Format with the Dutch market regulator, making the full-year financial statements publicly accessible via the company’s investor relations website. The publicati...
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.