Rai Way S.p.A. (IT:RWAY)
:RWAY
Top Page
Rai Way S.p.A.
(RWAY)
Select Model
Select Model
Rating:73Outperform
Price Target:
€6.50
▲(9.98% Upside)
Action:ReiteratedDate:03/28/26
The score is driven primarily by strong and consistent financial performance (high profitability and solid cash generation), tempered by slowing recent revenue momentum and moderately higher leverage versus earlier years. Technical signals are neutral-to-soft with no clear upward trend, while valuation is supportive due to a reasonable P/E and a high dividend yield.
Positive Factors
High profitability
Consistently high operating and net margins indicate durable unit economics and pricing power in transmission and hosting services. Over 2–6 months this supports predictable cash flows, funds for maintenance/capex, and resilience to cyclical revenue swings given structural cost advantages in network operations.
Negative Factors
Decelerating revenue growth
Top-line deceleration to low single-digit growth reduces upside for operating leverage and constrains earnings expansion. If structural demand or new tenancy fails to re-accelerate, margin improvements and free cash flow growth may be limited, affecting reinvestment capacity and shareholder returns over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability
Consistently high operating and net margins indicate durable unit economics and pricing power in transmission and hosting services. Over 2–6 months this supports predictable cash flows, funds for maintenance/capex, and resilience to cyclical revenue swings given structural cost advantages in network operations.
Read all positive factors
Rai Way S.p.A. (RWAY) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€1.65B
Dividend Yield6.03%
Average Volume (3M)247.20K
Price to Earnings (P/E)17.2
Beta (1Y)0.29
Revenue Growth2.39%
EPS Growth2.88%
CountryIT
Employees600
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.07
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)€291.19M
Rai Way S.p.A. Business Overview & Revenue Model
Company Description
Rai Way S.p.A. owns and manages television and radio transmission and broadcasting networks in Italy. The company provides terrestrial and satellite transmission of television and radio signals through the network infrastructure, as well as throug...
How the Company Makes Money
Rai Way makes money primarily by selling access to and services delivered through its physical infrastructure (towers, transmission sites, related equipment and connectivity) for the diffusion and transport of audio/video and data signals. A core ...
Rai Way S.p.A. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 282.80M | 276.10M | 271.94M | 245.45M | 229.94M |
| Gross Profit | 132.00M | 135.20M | 158.90M | 194.98M | 190.22M |
| EBITDA | 186.40M | 183.10M | 173.77M | 150.65M | 142.18M |
| Net Income | 88.60M | 89.90M | 86.72M | 73.69M | 65.38M |
Balance Sheet | |||||
| Total Assets | 464.80M | 462.00M | 470.28M | 442.60M | 388.05M |
| Cash, Cash Equivalents and Short-Term Investments | 9.30M | 13.50M | 34.12M | 35.18M | 17.24M |
| Total Debt | 145.80M | 157.25M | 139.23M | 141.51M | 105.63M |
| Total Liabilities | 272.80M | 269.60M | 281.58M | 266.44M | 222.13M |
| Stockholders Equity | 192.00M | 192.50M | 188.69M | 176.16M | 165.92M |
Cash Flow | |||||
| Free Cash Flow | 106.60M | 85.70M | 89.55M | 61.40M | 33.40M |
| Operating Cash Flow | 141.80M | 132.28M | 146.95M | 136.99M | 117.36M |
| Investing Cash Flow | -50.00M | -50.10M | -57.36M | -75.38M | -84.26M |
| Financing Cash Flow | -96.10M | -102.80M | -90.66M | -43.67M | -19.90M |
Rai Way S.p.A. Technical Analysis
Positive
5.91
Price Trends
5.89
Positive
5.71
Positive
5.86
Positive
Market Momentum
0.02
Negative
61.65
Neutral
92.22
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:RWAY, the sentiment is Positive. The current price of 5.91 is above the 20-day moving average (MA) of 5.89, above the 50-day MA of 5.89, and above the 200-day MA of 5.86, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 61.65 is Neutral, neither overbought nor oversold. The STOCH value of 92.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:RWAY.
Rai Way S.p.A. Peers Comparison
UnderperformOutperform
Sector (63)
IT:RWAY
Rai Way S.p.A.
6.13
1.12
22.38%
IT:INW
Inwit
7.32
-1.07
-12.79%
IT:TIT
Telecom Italia SPA
0.64
0.36
131.64%
Rai Way S.p.A. Corporate Events
Rai Way Publishes Documentation Ahead of April 2026 Shareholders’ Meeting
Mar 27, 2026
Rai Way S.p.A. has made available to the public the documentation for its Ordinary Shareholders’ Meeting scheduled for 28 April 2026, including the Board of Directors’ explanatory reports on the agenda items and the information documen...
Rai Way Lifts EBITDA Above Forecasts, Funds Diversification While Holding Rich Dividend
Mar 23, 2026
Rai Way reported 2025 core revenues of €282.8 million, up 2.4%, and Adjusted EBITDA of €191.8 million, up 3.3% and above expectations, driven by solid performance in media distribution and digital infrastructures. Net profit slipped 1....
Rai Way Publishes Board Reports Ahead of April 2026 Shareholders’ Meeting
Mar 19, 2026
Rai Way S.p.A. has made available to the public the Board of Directors’ reports relating to several items on the agenda of its Ordinary Shareholders’ Meeting scheduled for 28 April 2026. The documents can be consulted at the company...
Rai Way Calls 2026 Shareholders’ Meeting to Approve Accounts and Renew Governance
Mar 19, 2026
Rai Way has convened its ordinary shareholders’ meeting for 28 April 2026 in Rome, setting a single-call session to approve the 2025 financial statements, decide on profit allocation, and vote on the remuneration policy and report. The agend...
Rai Way Calls 2026 Shareholders’ Meeting to Approve Accounts and Renew Governance
Mar 18, 2026
Rai Way S.p.A. has convened its ordinary shareholders’ meeting for 28 April 2026 in Rome, to be held via a designated proxy representative in line with Italian securities regulations. Shareholders of record as of 17 April 2026 will be able t...
Rai Way Calls April 2026 Shareholders’ Meeting for Governance and Capital Measures
Mar 11, 2026
Rai Way’s board of directors has called an ordinary shareholders’ meeting for 28 April 2026 to vote on the 2025 separate financial statements and the allocation of net profit, as well as on the two sections of its remuneration report. ...
Rai Way Publishes Governance Guidelines Ahead of Board Renewal
Feb 27, 2026
Rai Way S.p.A., an integrated digital infrastructure operator and sole manager of RAI’s radio and television transmission networks, provides media content distribution and network services across Italy. Listed on Euronext Milan, it leverages...
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.