Reply SPA (IT:REY)
:REY
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Reply SPA
(REY)
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Rating:73Outperform
Price Target:
€91.00
▲(8.72% Upside)
Action:ReiteratedDate:04/07/26
The score is driven primarily by strong financial fundamentals (profitability, ROE, and low leverage) and an attractive valuation (low P/E with a dividend). This is partially offset by weak technicals, with the price below all key moving averages and negative MACD signaling ongoing bearish momentum.
Positive Factors
Consistent Revenue Growth
Sustained top-line expansion to €2.48B demonstrates persistent enterprise demand for Reply’s consulting, systems-integration and managed services. Consistent revenue across years supports stable backlog, recurring managed-service streams and better planning for capacity and long-term investments.
Negative Factors
Margin Volatility
Material swings in gross and operating margins indicate variability in project mix, pricing or cost absorption. Persistent volatility undermines forecasting accuracy, may strain pricing leverage with clients, and risks compressing long-term margin sustainability if higher-margin work is not consistently secured.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line expansion to €2.48B demonstrates persistent enterprise demand for Reply’s consulting, systems-integration and managed services. Consistent revenue across years supports stable backlog, recurring managed-service streams and better planning for capacity and long-term investments.
Read all positive factors
Reply SPA (REY) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€3.12B
Dividend Yield1%
Average Volume (3M)79.23K
Price to Earnings (P/E)17.1
Beta (1Y)0.59
Revenue Growth9.04%
EPS Growth13.17%
CountryIT
Employees16,057
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)3.38
Shares Outstanding37,411,427
10 Day Avg. Volume70,835
30 Day Avg. Volume79,227
Financial Highlights & Ratios
PEG Ratio0.91
Price to Book (P/B)2.88
Price to Sales (P/S)1.73
P/FCF Ratio15.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€151.75Price Target Upside81.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)7.37
Revenue Forecast (FY)€2.65B
Reply SPA Business Overview & Revenue Model
Company Description
Reply S.p.A. provides consulting, system integration, application management, and business process outsourcing services in Italy and internationally. The company concepts, designs, develops, and implements solutions based on communication channels...
How the Company Makes Money
Reply primarily makes money by delivering professional services for enterprise clients, with revenue generated from consulting, solution design, software engineering, systems integration, and ongoing managed/operational support. Key revenue stream...
Reply SPA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.48B | 2.30B | 2.12B | 1.89B | 1.48B |
| Gross Profit | 356.28M | 883.48M | 828.09M | 768.97M | 647.64M |
| EBITDA | 467.64M | 379.79M | 328.15M | 320.86M | 239.96M |
| Net Income | 250.89M | 211.14M | 186.70M | 191.02M | 150.67M |
Balance Sheet | |||||
| Total Assets | 2.77B | 2.63B | 2.37B | 2.23B | 1.85B |
| Cash, Cash Equivalents and Short-Term Investments | 641.94M | 536.53M | 414.50M | 312.50M | 360.84M |
| Total Debt | 174.36M | 188.52M | 211.72M | 243.07M | 167.63M |
| Total Liabilities | 1.27B | 1.33B | 1.26B | 1.26B | 1.03B |
| Stockholders Equity | 1.49B | 1.30B | 1.11B | 970.29M | 813.27M |
Cash Flow | |||||
| Free Cash Flow | 280.13M | 301.06M | 220.53M | 142.80M | 170.46M |
| Operating Cash Flow | 326.01M | 349.44M | 249.79M | 184.57M | 207.58M |
| Investing Cash Flow | -136.29M | -150.57M | -40.69M | -234.35M | -160.09M |
| Financing Cash Flow | -104.54M | -90.76M | -88.75M | -1.65M | -65.31M |
Reply SPA Technical Analysis
Neutral
83.70
Price Trends
89.25
Negative
102.18
Negative
114.56
Negative
Market Momentum
-2.46
Negative
49.26
Neutral
56.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:REY, the sentiment is Neutral. The current price of 83.7 is above the 20-day moving average (MA) of 80.83, below the 50-day MA of 89.25, and below the 200-day MA of 114.56, indicating a neutral trend. The MACD of -2.46 indicates Negative momentum. The RSI at 49.26 is Neutral, neither overbought nor oversold. The STOCH value of 56.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IT:REY.
Reply SPA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | €3.12B | 17.10 | 18.54% | 1.00% | 9.04% | 13.17% | |
68 Neutral | €295.06M | 9.46 | ― | 2.82% | -24.28% | -57.55% | |
62 Neutral | €1.23B | 12.37 | 15.29% | 1.15% | 9.50% | 0.52% | |
62 Neutral | €145.47M | 23.53 | ― | 0.66% | ― | ― | |
61 Neutral | €354.06M | 17.01 | 11.82% | 0.80% | 28.77% | -3.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €688.38M | -15.45 | -1.19% | 2.02% | 14.90% | -123.79% |
* General Sector Average
IT:REY
Reply SPA
83.70
-62.08
-42.58%
IT:SES
Sesa S.p.A.
79.30
17.07
27.42%
IT:TXT
TXT e solutions SPA
30.10
-0.78
-2.53%
IT:TNXT
Tinexta SpA
15.00
7.03
88.16%
IT:DGV
Digital Value SpA
28.98
12.80
79.11%
IT:SYS
Sys-dat S.P.A.
4.65
-2.09
-31.01%
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.