Iveco Group NV (IT:IVG)
:IVG
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Iveco Group NV
(IVG)
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Rating:70Outperform
Price Target:
€15.50
▼(-17.29% Downside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by very strong valuation inputs (very low P/E and exceptionally high dividend yield). This is tempered by only moderate financial performance due to multi-year revenue declines and volatility in earnings/free cash flow, while technicals add a modestly positive backdrop given the uptrend versus key moving averages.
Positive Factors
EV battery partnership
A multi-year supply and development partnership with Microvast entrenches Iveco in European EV powertrain supply chains. Having Gen‑2 battery packs assembled in Europe for Iveco bus and heavy truck platforms supports durable product competitiveness, scale and fleet electrification demand.
Negative Factors
Multi-year revenue decline
Sustained revenue declines across multiple years indicate weakening top‑line momentum and potential loss of market share or cyclical weakness in new‑vehicle demand. Persistent shrinkage limits scale benefits, pressures long‑run margin expansion, and reduces predictability of cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
EV battery partnership
A multi-year supply and development partnership with Microvast entrenches Iveco in European EV powertrain supply chains. Having Gen‑2 battery packs assembled in Europe for Iveco bus and heavy truck platforms supports durable product competitiveness, scale and fleet electrification demand.
Read all positive factors
Iveco Group NV (IVG) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€4.80B
Dividend Yield1.76%
Average Volume (3M)1.58M
Price to Earnings (P/E)1.1
Beta (1Y)1.03
Revenue Growth-8.23%
EPS Growth285.81%
CountryIT
Employees36,046
SectorIndustrials
Sector Strength72
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)5.31
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 Target
€14.10Price Target Upside-24.76% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.41
Revenue Forecast (FY)€14.67B
Iveco Group NV Business Overview & Revenue Model
Company Description
Iveco Group N.V. engages in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense, and other applications in Italy and internationally. The company ...
How the Company Makes Money
Iveco Group makes money primarily by selling commercial vehicles and powertrain products, and secondarily through aftermarket services and financing. (1) Vehicle sales: The largest revenue stream comes from the manufacture and sale of commercial v...
Iveco Group NV Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 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
58
Neutral
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.72B | 13.43B | 15.29B | 16.21B | 14.36B | 12.65B |
| Gross Profit | 2.00B | 2.10B | 2.65B | 2.70B | 1.97B | 1.77B |
| EBITDA | 1.27B | 1.42B | 1.50B | 1.26B | 992.00M | 837.00M |
| Net Income | 1.42B | 286.00M | 349.00M | 218.00M | 147.00M | 52.00M |
Balance Sheet | ||||||
| Total Assets | 18.05B | 18.88B | 19.44B | 18.39B | 16.01B | 16.56B |
| Cash, Cash Equivalents and Short-Term Investments | 3.58B | 2.95B | 3.48B | 2.64B | 2.23B | 780.00M |
| Total Debt | 5.13B | 6.06B | 6.37B | 5.93B | 4.43B | 5.79B |
| Total Liabilities | 14.04B | 16.04B | 16.67B | 15.99B | 13.62B | 14.25B |
| Stockholders Equity | 3.95B | 2.77B | 2.70B | 2.35B | 2.35B | 2.29B |
Cash Flow | ||||||
| Free Cash Flow | 778.00M | 849.00M | 248.00M | 366.00M | 630.00M | -25.00M |
| Operating Cash Flow | 1.03B | 1.11B | 1.20B | 1.34B | 1.41B | 539.00M |
| Investing Cash Flow | 679.00M | -655.00M | -284.00M | -2.22B | -1.34B | -45.00M |
| Financing Cash Flow | -759.00M | -629.00M | 68.00M | 1.49B | 1.34B | -88.00M |
Iveco Group NV Technical Analysis
Positive
18.74
Price Trends
19.10
Positive
18.92
Positive
18.50
Positive
Market Momentum
0.09
Negative
80.55
Negative
97.14
Negative
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 19.21, below the 50-day MA of 19.10, and above the 200-day MA of 18.50, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 80.55 is Negative, neither overbought nor oversold. The STOCH value of 97.14 is Negative, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | €4.75B | 15.83 | 42.37% | 2.73% | 12.34% | 23.90% | |
70 Outperform | €4.80B | 1.09 | ― | 1.76% | -8.23% | 285.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | €5.50B | 16.05 | ― | 3.23% | ― | ― | |
59 Neutral | €3.59B | 33.76 | 10.16% | 0.72% | 0.97% | -3.22% | |
56 Neutral | €3.97B | 17.13 | 14.30% | ― | 12.19% | 177.33% | |
50 Neutral | €2.60B | 6.39 | 15.02% | 2.32% | 14.59% | 23.80% |
* Industrials Sector Average
IT:IVG
Iveco Group NV
13.93
2.17
18.49%
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Iveco Group NV Corporate Events
Iveco Group Swings to Q1 Loss as Quality Drive and Bus Rework Weigh on Earnings
May 7, 2026
Iveco Group reported a weak first quarter of 2026 as quality-focused investments, rework costs in its Bus unit and tough conditions in South America pushed adjusted EBIT into a loss and reduced profitability across Industrial Activities, despite s...
Iveco Group Sets June Date for 2026 Annual General Meeting in Amsterdam
May 6, 2026
Iveco Group N.V. has convened its Annual General Meeting of shareholders for 17 June 2026 in Amsterdam, in line with its previously announced corporate calendar. Shareholders will review and approve the 2025 financial statements, vote on dischargi...
Iveco Group Names Simone Curti to Lead Powertrain Business as Blaise Departs
Apr 23, 2026
Iveco Group has announced a leadership transition at its Powertrain Business Unit, with long-time executive Sylvain Blaise set to leave on 29 June 2026 after 24 years at the company to become CEO of Manitou Group. Blaise has overseen FPT since Ive...
Iveco Group Sets Extraordinary Dividend After Defence Sale, Confirms Tender Offer Timeline
Apr 15, 2026
Iveco Group N.V. has approved an extraordinary interim dividend of €5.8216 per ordinary share, funded by the net proceeds from the recently completed sale of its Defence Business to Leonardo S.p.A., with shares trading ex-dividend on 20 Apri...
Iveco Group Publishes Key Document on Sale of Defence Business to Leonardo
Mar 31, 2026
Iveco Group has released the formal information document detailing the previously announced sale of its Defence business to Italian aerospace and defence company Leonardo, making the transaction more transparent for investors and regulators. The d...
Iveco Group Shareholders Approve Extraordinary Dividend After Defence Unit Sale
Mar 25, 2026
Iveco Group shareholders have approved an extraordinary dividend funded by the net proceeds from the recently completed sale of the company’s Defence Business to Leonardo S.p.A., marking a significant return of capital to investors. The payo...
Iveco Sells Defence Unit to Leonardo, Plans Extraordinary Dividend Ahead of Tata Offer
Mar 18, 2026
Iveco Group has completed the sale of its Defence Business, comprising the IDV and ASTRA brands, to Leonardo for approximately 1.6 billion euros, paving the way for the creation of a European land-defense champion with enhanced global competitiven...
Iveco Clears Conditions to Sell Defence Unit to Leonardo, Paving Way for Tata Motors’ Tender Offer
Mar 17, 2026
Iveco Group has confirmed that all preliminary conditions required to sell its Defence Business, including the IDV and ASTRA brands, to Italian aerospace and defence group Leonardo have been satisfied, clearing the way for the transaction to close...
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.