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Iveco Group NV
(IVG)
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Rating:53Neutral
Price Target:
€14.00
▲(0.57% Upside)
Action:Downgraded
Date:08/04/26
The score is held back primarily by weak cash flow conversion and high leverage alongside contracting revenue. Technical indicators also point to soft near-term momentum. These risks are partially offset by very low valuation (P/E ~2.75) and a very high dividend yield (~41.9%), which support the overall score.
Positive Factors
Diversified revenue streams
Iveco earns from new vehicle sales, powertrain units, aftermarket parts/services and captive financing. This multi-stream model smooths cyclicality: aftermarket and financing provide recurring income and customer tie‑ins that support margins and resilience over a multi‑quarter horizon.
Negative Factors
Declining revenue trend
Top‑line contraction of about 12% in 2025 and TTM weakens scale economics and pressures operating leverage. Persistent revenue declines erode margin sustainability, reduce scope for fixed‑cost absorption, and limit cash flow unless product mix or volumes recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
Iveco earns from new vehicle sales, powertrain units, aftermarket parts/services and captive financing. This multi-stream model smooths cyclicality: aftermarket and financing provide recurring income and customer tie‑ins that support margins and resilience over a multi‑quarter horizon.
Read all positive factors
Iveco Group NV (IVG) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€4.79B
Dividend Yield41.87%
Average Volume (3M)1.58M
Price to Earnings (P/E)2.8
Beta (1Y)0.89
Revenue Growth-7.48%
EPS Growth318.91%
CountryIT
Employees33,000
SectorIndustrials
Sector Strength72
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)5.06
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)1.19
Revenue Forecast (FY)€14.66B
Iveco Group NV Business Overview & Revenue Model
Company Description
Iveco Group N.V. is a company dedicated to the complete lifecycle of vehicles, encompassing their design, production, sales, maintenance, and financing. Operating both in Italy and globally, its primary focus is on trucks, buses, and specialized v...
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:Nov 04, 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
54
Neutral
Balance Sheet
38
Negative
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.71B | 13.43B | 15.29B | 16.21B | 14.36B | 12.65B |
| Gross Profit | 1.88B | 2.10B | 2.65B | 2.70B | 1.97B | 1.77B |
| EBITDA | 1.12B | 1.42B | 1.50B | 1.26B | 992.00M | 837.00M |
| Net Income | 1.35B | 286.00M | 349.00M | 218.00M | 147.00M | 52.00M |
Balance Sheet | ||||||
| Total Assets | 17.76B | 18.88B | 19.44B | 18.39B | 16.01B | 16.56B |
| Cash, Cash Equivalents and Short-Term Investments | 2.51B | 2.91B | 3.48B | 2.64B | 2.23B | 780.00M |
| Total Debt | 6.15B | 6.06B | 6.37B | 5.93B | 4.43B | 5.79B |
| Total Liabilities | 15.23B | 16.04B | 16.67B | 15.99B | 13.62B | 14.25B |
| Stockholders Equity | 2.47B | 2.77B | 2.70B | 2.35B | 2.35B | 2.29B |
Cash Flow | ||||||
| Free Cash Flow | 4.00M | 849.00M | 248.00M | 366.00M | 630.00M | -25.00M |
| Operating Cash Flow | 416.00M | 1.11B | 1.20B | 1.34B | 1.41B | 539.00M |
| Investing Cash Flow | 676.00M | -655.00M | -284.00M | -2.22B | -1.34B | -45.00M |
| Financing Cash Flow | -1.27B | -629.00M | 68.00M | 1.49B | 1.34B | -88.00M |
Iveco Group NV Technical Analysis
Positive
13.92
Price Trends
13.92
Negative
13.86
Positive
13.54
Positive
Market Momentum
>-0.01
Negative
51.38
Neutral
84.12
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 13.92 is above the 20-day moving average (MA) of 13.92, below the 50-day MA of 13.92, and above the 200-day MA of 13.54, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.38 is Neutral, neither overbought nor oversold. The STOCH value of 84.12 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | €78.15B | 38.05 | 42.56% | 1.14% | 5.68% | 3.62% | |
65 Neutral | €1.32B | 18.39 | ― | 1.71% | 30.77% | 19.63% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | €701.10M | 20.28 | 7.61% | 4.42% | -4.62% | -23.89% | |
53 Neutral | €4.79B | 2.75 | ― | 41.87% | -7.48% | 318.91% | |
48 Neutral | €65.76M | -21.36 | -10.50% | ― | 36.39% | 54.29% | |
46 Neutral | €17.88B | -0.69 | -33.80% | ― | -2.15% | -525.09% |
* Industrials Sector Average
IT:IVG
Iveco Group NV
13.92
0.94
7.25%
IT:STLAM
Stellantis
4.63
-3.65
-44.07%
IT:RACE
Ferrari
351.60
-27.88
-7.35%
IT:PIA
Piaggio & C. SPA
1.96
0.04
2.14%
IT:PINF
Pininfarina SPA
0.85
-0.01
-1.17%
IT:COM
Comer Industries SpA
45.80
9.78
27.16%
Iveco Group NV Corporate Events
Iveco Group Plans CFO Transition Amid Tata Motors Tender Offer
Jul 30, 2026
Iveco Group N.V. has agreed that its Chief Financial IT Officer, Anna Tanganelli, will leave the company following the substantive completion of Tata Motors’ public tender offer for Iveco Group and assume a new role at another listed compan...
Iveco Group Boosts Revenues but Sacrifices Margins as Tata Motors Takeover Nears
Jul 30, 2026
Iveco Group reported second-quarter 2026 revenue growth of 7.3% to €3.76 billion, driven by higher industrial volumes in Europe, but profitability weakened as Adjusted EBIT fell to €131 million due to planned investments in quality and...
Iveco Group AGM Backs Board, Advances Tata Tie-Up and Strategic Refocus
Jun 17, 2026
Iveco Group shareholders approved all Board proposals at the Annual General Meeting in Amsterdam, including the 2025 financial statements, the remuneration report, director discharges and reappointments, and the confirmation of Deloitte as 2026 au...
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...
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.