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:75Outperform
Price Target:
€56.00
▲(14.66% Upside)
Action:UpgradedDate:04/07/26
The score is driven primarily by strong financial performance (durable growth, high margins, and strong ROE), with supportive but slightly stretched technicals (uptrend with near-overbought signals). Valuation is reasonable but not cheap at ~22.5x earnings, with the ~2.6% dividend providing some support.
Positive Factors
High and stable margins
Consistently high gross and EBIT margins indicate durable pricing power, efficient manufacturing and commercial execution in pharmaceuticals. This profitability supports sustained R&D and commercial investment, provides buffer versus reimbursement pressure, and underpins long-term cash generation.
Negative Factors
Net margin erosion
A downward trend in net margin suggests mix shifts, pricing pressure or rising operating costs. If persistent, margin erosion would lower free cash flow and ROE, constrain ability to fund R&D organically, and weaken resilience to competitive or reimbursement headwinds over time.
Read all positive and negative factors
Positive Factors
Negative Factors
High and stable margins
Consistently high gross and EBIT margins indicate durable pricing power, efficient manufacturing and commercial execution in pharmaceuticals. This profitability supports sustained R&D and commercial investment, provides buffer versus reimbursement pressure, and underpins long-term cash generation.
Read all positive factors
Recordati Industria Chimica e Farmaceutica SPA (REC) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€10.08B
Dividend Yield2.67%
Average Volume (3M)218.69K
Price to Earnings (P/E)22.5
Beta (1Y)0.52
Revenue Growth12.58%
EPS Growth-4.34%
CountryIT
Employees4,580
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.56
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
€53.83Price Target Upside10.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.2
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
84
Very Positive
Balance Sheet
78
Positive
Cash Flow
76
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.62B | 2.34B | 2.08B | 1.85B | 1.58B |
| Gross Profit | 1.79B | 1.60B | 1.42B | 1.29B | 1.15B |
| EBITDA | 887.00M | 795.37M | 708.16M | 559.35M | 578.35M |
| Net Income | 443.62M | 416.51M | 389.21M | 312.34M | 385.97M |
Balance Sheet | |||||
| Total Assets | 5.25B | 5.13B | 4.21B | 4.00B | 2.82B |
| Cash, Cash Equivalents and Short-Term Investments | 428.82M | 322.42M | 221.81M | 284.73M | 244.58M |
| Total Debt | 23.85M | 2.49B | 1.46B | 1.72B | 992.19M |
| Total Liabilities | 3.33B | 3.26B | 2.52B | 2.45B | 1.43B |
| Stockholders Equity | 1.92B | 1.88B | 1.69B | 1.55B | 1.38B |
Cash Flow | |||||
| Free Cash Flow | 511.77M | 535.10M | 102.06M | 365.35M | 404.29M |
| Operating Cash Flow | 596.90M | 569.92M | 485.32M | 461.69M | 491.65M |
| Investing Cash Flow | -80.84M | -844.94M | -379.62M | -767.12M | -87.50M |
| Financing Cash Flow | -407.02M | 372.11M | -168.91M | 341.28M | -355.94M |
Recordati Industria Chimica e Farmaceutica SPA Technical Analysis
Positive
48.84
Price Trends
47.42
Positive
48.11
Positive
49.94
Negative
Market Momentum
0.65
Negative
57.30
Neutral
56.97
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 48.84 is above the 20-day moving average (MA) of 47.20, above the 50-day MA of 47.42, and below the 200-day MA of 49.94, indicating a neutral trend. The MACD of 0.65 indicates Negative momentum. The RSI at 57.30 is Neutral, neither overbought nor oversold. The STOCH value of 56.97 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | €10.08B | 22.48 | 21.26% | 2.67% | 12.58% | -4.34% | |
56 Neutral | €3.30B | 25.59 | 12.16% | 1.80% | 4.69% | 15.79% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | €2.07B | 34.09 | 8.86% | 2.13% | 2.05% | -25.46% | |
41 Neutral | €585.43K | -6.36 | -51.46% | ― | -27.40% | 82.08% |
* General Sector Average
IT:REC
Recordati Industria Chimica e Farmaceutica SPA
48.84
2.40
5.18%
IT:AMP
Amplifon S.p.A.
9.20
-8.10
-46.85%
IT:DIA
DiaSorin S.p.A.
61.10
-33.77
-35.59%
IT:FDA
Fidia Spa
0.01
-0.51
-97.50%
Recordati Industria Chimica e Farmaceutica SPA Corporate Events
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...
Recordati Updates Market on Progress of Share Buyback Programme
Feb 10, 2026
Recordati has provided an update on its ongoing share buyback programme, launched in December 2025 to support existing and future stock option and performance share plans for group management. Between 2 and 6 February 2026, the company repurchased...
Recordati Reports January 2026 Treasury Share Purchases Under Ongoing Buy-back Program
Feb 5, 2026
Recordati disclosed that UBS Europe SE, acting as an intermediary, executed a series of purchases of Recordati shares on the Italian regulated market in January 2026 as part of the company’s ongoing share buy-back program launched in Decembe...
Recordati Expands Treasury Stake with Continued Share Buyback for Incentive Plans
Feb 3, 2026
Recordati has provided an update on its ongoing share buyback program, launched in December 2025 under a shareholder resolution to support existing and future stock option and performance share plans for group management. Between 26 and 30 January...
Recordati Strikes Global Deal With Moderna to Commercialize mRNA Therapy for Rare Metabolic Disease
Jan 29, 2026
Recordati has entered a global collaboration and license agreement with Moderna to develop and commercialize mRNA-3927, an investigational mRNA-based therapy for the rare inherited metabolic disease propionic acidemia. Under the deal, Moderna will...
Recordati Sets 2026 Financial Calendar and Indicative Dividend Timetable
Jan 28, 2026
Recordati S.p.A. has published its 2026 corporate events calendar, detailing Board of Directors meetings to approve preliminary 2025 results in February, full-year 2025 accounts in March, and quarterly and half-yearly financial reports in May, Jul...
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.