Recordati Industria Chimica e Farmaceutica SPA (IT:REC)
:REC
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Recordati Industria Chimica e Farmaceutica SPA
(REC)
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Rating:78Outperform
Price Target:
€59.00
▲(17.06% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by strong underlying profitability and returns, supported by bullish technical momentum (price above major moving averages and positive MACD). The main constraints are leverage and softer recent cash-flow momentum, while valuation appears reasonable with a moderate P/E and a ~2.5% dividend yield.
Positive Factors
High profitability and margins
Sustained high gross and EBITDA margins imply durable pricing power and efficient cost structure, enabling the firm to fund R&D, specialty commercialization, and dividends. These margins provide a structural buffer versus cyclical revenue swings and support long-term returns on capital.
Negative Factors
Elevated leverage
Debt-to-equity near 1.15 constrains financial flexibility for M&A, buybacks, or cushioning against adverse reimbursement shifts. Elevated leverage raises interest-service risk and reduces the company's ability to absorb prolonged cash-flow shortfalls without tightening investment or capital returns policies.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross and EBITDA margins imply durable pricing power and efficient cost structure, enabling the firm to fund R&D, specialty commercialization, and dividends. These margins provide a structural buffer versus cyclical revenue swings and support long-term returns on capital.
Read all positive factors
Recordati Industria Chimica e Farmaceutica SPA (REC) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€10.59B
Dividend Yield2.67%
Average Volume (3M)218.69K
Price to Earnings (P/E)16.3
Beta (1Y)0.55
Revenue Growth9.87%
EPS Growth13.63%
CountryIT
Employees4,580
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)2.30
Shares Outstanding209,125,150
10 Day Avg. Volume203,691
30 Day Avg. Volume218,687
Financial Highlights & Ratios
PEG Ratio3.24
Price to Book (P/B)5.20
Price to Sales (P/S)3.81
P/FCF Ratio19.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€56.75Price Target Upside12.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.21
Revenue Forecast (FY)€2.78B
Recordati Industria Chimica e Farmaceutica SPA Business Overview & Revenue Model
Company Description
Recordati Industria Chimica e Farmaceutica S.p.A., together with its subsidiaries, engages in the research, development, manufacture, marketing, and sale of pharmaceuticals worldwide. The company offers pharmaceuticals in various therapeutic areas...
How the Company Makes Money
Recordati makes money mainly by selling pharmaceutical products through two principal revenue streams. (1) Specialty & Primary Care: The company generates revenue from the commercialization of branded prescription medicines and selected consumer h...
Recordati Industria Chimica e Farmaceutica SPA Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
71
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.65B | 2.62B | 2.34B | 2.08B | 1.85B | 1.58B |
| Gross Profit | 1.84B | 1.79B | 1.60B | 1.42B | 1.29B | 1.15B |
| EBITDA | 929.01M | 887.00M | 795.37M | 708.16M | 559.35M | 578.35M |
| Net Income | 471.64M | 443.62M | 416.51M | 389.21M | 312.34M | 385.97M |
Balance Sheet | ||||||
| Total Assets | 5.33B | 5.25B | 5.13B | 4.21B | 4.00B | 2.82B |
| Cash, Cash Equivalents and Short-Term Investments | 380.47M | 428.82M | 322.42M | 221.81M | 284.73M | 244.58M |
| Total Debt | 2.37B | 2.47B | 2.49B | 1.46B | 1.72B | 992.19M |
| Total Liabilities | 3.27B | 3.33B | 3.26B | 2.52B | 2.45B | 1.43B |
| Stockholders Equity | 2.06B | 1.92B | 1.88B | 1.69B | 1.55B | 1.38B |
Cash Flow | ||||||
| Free Cash Flow | 447.21M | 511.77M | 535.10M | 102.06M | 365.35M | 404.29M |
| Operating Cash Flow | 534.98M | 596.90M | 569.92M | 485.32M | 461.69M | 491.65M |
| Investing Cash Flow | -88.44M | -80.84M | -844.94M | -379.62M | -767.12M | -87.50M |
| Financing Cash Flow | -405.12M | -407.02M | 372.11M | -168.91M | 341.28M | -355.94M |
Recordati Industria Chimica e Farmaceutica SPA Technical Analysis
Positive
50.40
Price Trends
48.30
Positive
47.68
Positive
48.94
Positive
Market Momentum
0.78
Negative
64.50
Neutral
60.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:REC, the sentiment is Positive. The current price of 50.4 is above the 20-day moving average (MA) of 49.84, above the 50-day MA of 48.30, and above the 200-day MA of 48.94, indicating a bullish trend. The MACD of 0.78 indicates Negative momentum. The RSI at 64.50 is Neutral, neither overbought nor oversold. The STOCH value of 60.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:REC.
Recordati Industria Chimica e Farmaceutica SPA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €10.59B | 16.35 | 21.26% | 2.67% | 9.87% | 13.63% | |
56 Neutral | €2.33B | 49.13 | 8.86% | 2.13% | -1.50% | -51.14% | |
56 Neutral | €3.48B | 18.97 | 12.16% | 1.80% | 0.81% | -15.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
41 Neutral | €1.27M | -6.36 | -51.46% | ― | -27.40% | 82.08% |
* General Sector Average
IT:REC
Recordati Industria Chimica e Farmaceutica SPA
51.30
0.99
1.98%
IT:AMP
Amplifon S.p.A.
10.35
-8.57
-45.29%
IT:DIA
DiaSorin S.p.A.
64.60
-24.94
-27.85%
IT:FDA
Fidia Spa
0.01
-0.51
-97.69%
Recordati Industria Chimica e Farmaceutica SPA Corporate Events
Recordati lifts Q1 revenues on rare disease strength and advances key pipeline programs
May 12, 2026
Recordati reported first-quarter 2026 consolidated net revenues of €713.4 million, up 4.9% overall and 8.7% on a like-for-like basis at constant exchange rates, driven chiefly by strong growth in its Rare Diseases business. EBITDA rose 5.0% ...
Recordati Sells Treasury Shares to Satisfy Stock Option Exercises
May 6, 2026
Recordati has disclosed the sale of treasury shares to beneficiaries of its stock option plans, following the exercise of options previously granted under these incentive schemes. The sale price for the shares matches the original exercise price s...
Recordati Publishes Voting Summary from 29 April 2026 Shareholders’ Meeting
Apr 30, 2026
Recordati has announced that the summary report of the votes on resolutions approved at its Ordinary and Extraordinary Shareholders’ Meeting held on 29 April 2026 is now available to investors. The report can be consulted on the company̵...
Recordati Lifts Dividend, Renews Buyback Powers and Overhauls Governance
Apr 29, 2026
Recordati’s shareholders approved the 2025 financial statements and a higher total dividend of €1.34 per share, up 5.5% year on year, confirming the group’s commitment to rewarding investors as first-quarter 2026 revenues rose to...
Recordati Publishes Candidate Lists for New Board of Statutory Auditors Ahead of April Meeting
Apr 8, 2026
Recordati has published the lists of candidates for its new Board of Statutory Auditors ahead of the ordinary and extraordinary shareholders’ meeting scheduled for 29 April 2026. The disclosure fulfils regulatory requirements and signals an ...
Recordati details March buy-back trades and stock option-related treasury share sales
Apr 7, 2026
Recordati has disclosed a series of March 2026 transactions involving its own shares, tied both to employee stock option plans and to a previously announced share buy-back programme. The company sold treasury shares directly to beneficiaries exerc...
Recordati Extends Deadline and Lowers Threshold for Board of Statutory Auditors Slates
Apr 4, 2026
Recordati has announced that, ahead of the Ordinary and Extraordinary Shareholders’ Meeting scheduled for 29 April 2026, only a single slate of candidates for the renewal of its Board of Statutory Auditors for the 2026–2028 term has be...
Recordati Publishes 2025 Financial and Governance Reports Ahead of April Shareholders’ Meeting
Apr 1, 2026
Recordati has made its 2025 Annual Financial Report, including separate and consolidated financial statements, management reports with sustainability reporting, and accompanying auditors’ and statutory auditors’ reports, available to t...
Recordati Publishes Documentation for April 2026 Shareholders’ Meeting
Mar 27, 2026
Recordati has published key documents for its upcoming ordinary and extraordinary shareholders’ meeting scheduled for 29 April 2026, making them available at its registered office, on its website and via an authorised storage mechanism. The ...
Recordati Confirms CVC’s Non-Binding Interest in Potential Takeover Bid
Mar 26, 2026
Recordati disclosed that it has received a non-binding expression of interest from private equity firm CVC for a potential voluntary full takeover bid intended to delist the company from the stock exchange. The proposal, which includes an indicati...
Recordati Completes €47 Million Share Buyback to Fund Management Incentive Plans
Mar 25, 2026
Recordati has completed a share buyback programme launched in December 2025 to supply stock option and performance share plans for its management and future share-based incentive schemes. Between 17 December 2025 and 24 March 2026, the company rep...
Recordati Calls 2026 Shareholders’ Meeting to Approve Accounts, Incentive Plan and New Financing Powers
Mar 20, 2026
Recordati has convened an ordinary and extraordinary shareholders’ meeting for 29 April 2026, to be held without physical attendance and with voting exercised exclusively via an appointed representative. Shareholders will vote on approval of...
Recordati Calls 2026 Shareholders’ Meeting to Approve Results, Incentive Plan and New Capital Mandate
Mar 20, 2026
Recordati has convened an ordinary and extraordinary shareholders’ meeting for 29 April 2026, to be held without physical attendance and with voting exercised exclusively via a designated representative in line with extended Italian emergenc...
Recordati Confirms Strong 2025 Results, Lifts Dividend and Advances ESG Agenda
Mar 19, 2026
Recordati approved its 2025 integrated consolidated financial statements, confirming preliminary results with net revenues of €2.62 billion, up 11.8%, and EBITDA of €991.1 million, up 14.5%, driven by strong performance in both Special...
Recordati Lifts Treasury Stake With Latest Share Buy-Back Tranche
Mar 17, 2026
Recordati has reported progress on its ongoing share buy-back program authorized in 2025 to service existing and future stock option, performance share and other share-based incentive plans for group management. Between 9 and 13 March 2026 the com...
Recordati Updates Market on Progress of Share Buyback Program
Mar 10, 2026
Recordati has provided an update on its ongoing share buyback program, launched in December 2025 to support current and future equity-based incentive plans for group management. Between 2 and 6 March 2026, the company repurchased 114,393 ordinary ...
Recordati details February treasury share sales and buy-back transactions
Mar 6, 2026
Recordati disclosed a series of February 2026 transactions involving its own shares, combining sales of treasury stock to beneficiaries of existing stock option plans with purchases executed under an ongoing buy-back programme. The sale transactio...
Recordati Expands Treasury Stock with Latest Share Buyback Tranche
Mar 3, 2026
Recordati has provided an update on its ongoing share buyback program, initiated in December 2025 under a shareholder resolution to accumulate shares for existing and future equity-based incentive plans for Group management. Between 23 and 27 Febr...
Recordati Updates Market on Progress of Share Buyback Programme
Feb 24, 2026
Recordati has provided an update on its ongoing share buyback programme, under which it repurchases shares to service existing and future stock option and performance share plans for group management. Between 16 and 20 February 2026, the company b...
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.