Itron (ITRI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Itron

NasdaqGS•Technology•Scientific & Technical Instruments

$95.23+0.54(0.01%)Market open

Market Cap

$4.20B

P/E

15.0x

P/S

1.8x

P/B

2.5x

Itron, Inc., a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in four segments: Device Solutions, Networked Solutions, Outcomes, and Resiliency Solution. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products. The Networked Solutions segment provides communicating devices, such as smart meters, modules, endpoints, and sensors; network infrastructure; network design services; and associated heat-end management and application software for acquiring and transporting application-specific data. This segment also products and software for the implementation, installation, and management of communicating devices and data networks; offers industrial internet of things solutions, including automated meter reading; advanced metering infrastructure for electricity, water, and gas; distributed energy resource management; grid edge devices; distribution automation communications; smart lighting; and smart city sensors and applications. The Outcomes segment provides value-added, enhanced software and services, artificial intelligence, and machine learning, statistical modeling, and other analytics. The Resiliency Solutions segment offers software and services. The company offers implementation, project management, installation, consulting, and post-sale maintenance support services, as well as cloud and software-as-a-service; and extended or customer-specific warranties. It offers its products and services under the Itron brand. The company serves utility and smart city customers, and municipalities through its sales force, distributors, agents, partners, and meter manufacturer representatives. Itron, Inc. was incorporated in 1977 and is headquartered in Liberty Lake, Washington.

How this company scores

GoodMetricSide Score: 73/100

Strongest: Profitability (23/25); weakest: Growth (11/25).

Profitability23/25

Growth11/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality23/25

Strengths

High ROEInterest easily coveredCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.0x5y range 13.0x – 83.2x

Currently below its 14-quarter median.

P/S · 1.8x5y range 1.1x – 2.5x

Currently near its 20-quarter median.

P/B · 2.5x5y range 1.8x – 3.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Leverage Risk

Watch

Debt-to-equity has risen 99.5% recently — increasing financial risk even if the current ratio is manageable.

Revenue Decline

Red Flag

Revenue declined in 5 of the last 7 quarters — persistent contraction signals a fundamental problem.

Price & Volume

Market Cap $4.20B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.32B
Q. Revenue: $599.33M
TTM EBITDA: $386.69M
TTM Op. Income: $317.79M
Q. Op. Income: $95.49M
TTM Net Income: $279.73M
Q. Net Income: $71.37M
EPS: $1.63
Shares Out.: $43.81M

$2.32B in TTM revenue declined 3.6% YoY, reaching $599.33M last quarter. TTM EBITDA of $386.69M and TTM operating income of $317.79M show growth is flowing through to the bottom line. TTM net income of $279.73M means revenue is converting into profit. Over the past year, TTM revenue is down 4% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 40.9%
EBITDA Margin: 19.0%
Op. Margin: 15.9%
Net Margin: 11.9%

Op. margin of 15.9% is up 1.9% YoY — cost efficiency is improving. Net margin at 11.9% and gross margin of 40.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 15.0x
P/S Ratio: 1.8x
P/B Ratio: 2.5x

At 15.0x P/E, the stock trades within typical market levels. P/S of 1.8x and P/B of 2.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.12B
Cash: $840.32M
Long-Term Debt: $1.58B
Book Value: $1.70B
D/E Ratio: 0.9
Debt/EBITDA: 13.8

With $4.12B in assets and $1.58B in long-term debt, D/E is 0.9and book value is $1.70B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $101.95M
TTM Free Cash Flow: $367.51M
FCF Margin: 15.8%
FCF / Net Income: 1.3

TTM FCF of $367.51M on $101.95M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.