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Rai Way S.p.A.
(RWAY)
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Rating:74Outperform
Price Target:
€5.00
▲(9.89% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (high profitability and solid cash generation), supported by favorable valuation (moderate P/E and high dividend yield). This is tempered by weaker medium-to-longer-term technical trend signals, with the stock trading below key longer moving averages.
Positive Factors
High profitability / margins
Very high and sustained margins indicate durable pricing power and an efficient cost base for a broadcast infrastructure operator. Over the next 2–6 months this supports resilient earnings, funds reinvestment and dividends, and provides a buffer versus modest top-line swings.
Negative Factors
Top-line stagnation
A nearly flat TTM top line limits organic earnings upside and increases reliance on margin expansion or cost discipline for profits. Over months this constrains growth optionality and makes long-term returns sensitive to competitive pricing, contract renewals, or modest demand shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability / margins
Very high and sustained margins indicate durable pricing power and an efficient cost base for a broadcast infrastructure operator. Over the next 2–6 months this supports resilient earnings, funds reinvestment and dividends, and provides a buffer versus modest top-line swings.
Read all positive factors
Rai Way S.p.A. (RWAY) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€1.26B
Dividend Yield7.03%
Average Volume (3M)247.20K
Price to Earnings (P/E)14.9
Beta (1Y)0.25
Revenue Growth2.69%
EPS Growth-5.07%
CountryIT
Employees600
SectorGeneral
Sector StrengthN/A
IndustryBroadcasting
Share Statistics
EPS (TTM)0.32
Shares Outstanding272,000,000
10 Day Avg. Volume198,539
30 Day Avg. Volume247,199
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)7.92
Price to Sales (P/S)5.38
P/FCF Ratio14.26
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)0.33
Revenue Forecast (FY)€290.56M
Rai Way S.p.A. Business Overview & Revenue Model
Company Description
Rai Way S.p.A. is an Italian enterprise dedicated to the ownership and administration of television and radio transmission and broadcasting infrastructure nationwide. It facilitates the delivery of TV and radio signals utilizing its extensive netw...
How the Company Makes Money
Rai Way makes money primarily by providing access to, and operating, its transmission and infrastructure assets for the distribution of TV and radio signals. Its core revenue stream is fees charged for broadcasting and transmission services delive...
Rai Way S.p.A. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 286.55M | 282.80M | 276.10M | 271.94M | 245.45M | 229.94M |
| Gross Profit | 178.43M | 160.35M | 135.20M | 158.90M | 194.98M | 190.22M |
| EBITDA | 186.02M | 183.56M | 183.10M | 173.77M | 150.65M | 142.18M |
| Net Income | 85.47M | 88.60M | 89.90M | 86.72M | 73.69M | 65.38M |
Balance Sheet | ||||||
| Total Assets | 459.70M | 464.80M | 462.00M | 470.28M | 442.60M | 388.05M |
| Cash, Cash Equivalents and Short-Term Investments | 15.40M | 9.30M | 13.50M | 34.12M | 35.18M | 17.24M |
| Total Debt | 183.40M | 145.80M | 157.25M | 139.23M | 141.51M | 105.63M |
| Total Liabilities | 312.20M | 272.80M | 269.60M | 281.58M | 266.44M | 222.13M |
| Stockholders Equity | 147.50M | 192.00M | 192.50M | 188.69M | 176.16M | 165.92M |
Cash Flow | ||||||
| Free Cash Flow | 124.08M | 106.60M | 85.70M | 89.55M | 61.40M | 33.40M |
| Operating Cash Flow | 157.41M | 141.80M | 132.28M | 146.95M | 136.99M | 117.36M |
| Investing Cash Flow | -48.00M | -50.00M | -50.10M | -57.36M | -75.38M | -84.26M |
| Financing Cash Flow | -104.36M | -96.10M | -102.80M | -90.66M | -43.67M | -19.90M |
Rai Way S.p.A. Technical Analysis
Negative
4.55
Price Trends
4.82
Negative
5.24
Negative
5.31
Negative
Market Momentum
-0.02
Negative
46.43
Neutral
20.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:RWAY, the sentiment is Negative. The current price of 4.55 is below the 20-day moving average (MA) of 4.70, below the 50-day MA of 4.82, and below the 200-day MA of 5.31, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 46.43 is Neutral, neither overbought nor oversold. The STOCH value of 20.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:RWAY.
Rai Way S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
IT:RWAY
Rai Way S.p.A.
4.70
-1.01
-17.66%
IT:INW
Inwit
6.04
-3.37
-35.80%
IT:TIT
Telecom Italia SPA
7.65
3.05
66.49%
Rai Way S.p.A. Corporate Events
Rai Way Publishes Audited Interim Financial Report for Mid-2026
Jul 31, 2026
Rai Way S.p.A. has filed its Interim Financial Report as of 30 June 2026, together with the related audit firm report, making these documents available to the public at its registered office in Rome. The filings have also been published on the com...
Rai Way Publishes Half-Year Financial Report for 30 June 2026
Jul 31, 2026
Rai Way S.p.A. has made its Half-Year Financial Report as of 30 June 2026, together with the Independent Auditors’ Report, available to the public. The documents can be accessed at the company’s registered office in Rome and have been ...
Rai Way Drops EI Towers Tie-Up and Doubles Down on 2024–2027 Plan
Jul 2, 2026
Rai Way’s board has acknowledged RAI’s announcement that the memorandum of understanding with F2i and MFE on a potential aggregation between Rai Way and EI Towers has expired without a shared basis for further negotiations. As a result...
Rai Way Publishes Minutes of 28 April 2026 Shareholders’ Meeting
May 27, 2026
Rai Way S.p.A. has announced that the minutes of its Ordinary Shareholders’ Meeting held on 28 April 2026 are now publicly available at its registered office in Rome and on its corporate website, as well as through the authorized storage mec...
Rai Way Starts 2026 with Revenue Growth, Lower Debt and Steady Guidance
May 13, 2026
Rai Way posted a solid start to 2026, with core revenues rising 2.6% to €71.9 million and adjusted EBITDA up 1.0% to €47.3 million, driven by growth in media distribution and digital infrastructure services. Net profit slipped 4.3% to ...
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.