Itron, Inc. (ITRI)
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.
- Symbol
- ITRI
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Scientific & Technical Instruments
- Market cap
- $4.09B
- 52 week range
- 77.77 - 142
Valuation
- Share price
- $91.32 (close of 2026-09-23)
- P/E (TTM)
- 15.33x
- Price to book
- 2.49x
- Price to free cash flow
- 10.60x
- Enterprise value
- $4.94B
- Book value per share
- $37.42
Price performance
| Period | Change |
|---|
| 1 day | -1.20% |
| 5 days | -1.06% |
| 1 month | -8.71% |
| 3 months | +12.60% |
| 6 months | -2.23% |
| Year to date | -1.66% |
| 1 year | -26.78% |
| 3 years | +52.43% |
| 5 years | +14.85% |
| 10 years | +65.52% |
| All time | +498.82% |
Profitability and growth
- Return on equity
- 17.32%
- Return on invested capital
- 13.81%
- Return on assets
- 8.09%
- Return on capital employed
- 11.56%
- Gross margin
- 37.69%
- Net margin
- 12.72%
- EBITDA margin
- 15.32%
- Revenue growth
- -3.02%
- Net income growth
- 25.91%
- Free cash flow growth
- 84.51%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 9.43%
- Current ratio
- 2.75x
- Net debt to EBITDA
- 2.14x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $2.37B
- Cost of revenue
- $1.48B
- Gross profit
- $892.12M
- EBITDA
- $362.58M
- Net income
- $301.06M
- Earnings per share
- $6.62
- Research and development
- $207.04M
- Shares outstanding
- 45.49M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $2.37B | $892.12M | $301.06M | $6.62 |
| 2024-12-31 | $2.44B | $839.32M | $239.10M | $5.27 |
| 2023-12-31 | $2.17B | $713.91M | $96.92M | $2.13 |
| 2022-12-31 | $1.80B | $522.19M | $-9.73M | $-0.22 |
| 2021-12-31 | $1.98B | $573.17M | $-81.25M | $-1.83 |
| 2020-12-31 | $2.17B | $602.17M | $-57.95M | $-1.44 |
| 2019-12-31 | $2.50B | $752.32M | $49.01M | $1.24 |
| 2018-12-31 | $2.38B | $730.32M | $-99.25M | $-2.53 |
| 2017-12-31 | $2.02B | $676.75M | $57.30M | $1.48 |
| 2016-12-31 | $2.01B | $662.53M | $31.77M | $0.83 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 37.69% | 12.72% | 17.32% | 13.81% |
| 2024-12-31 | 34.39% | 9.80% | 16.94% | 13.56% |
| 2023-12-31 | 32.84% | 4.46% | 7.28% | 6.58% |
| 2022-12-31 | 29.08% | -0.54% | -0.82% | -0.25% |
| 2021-12-31 | 28.92% | -4.10% | -7.11% | -2.64% |
| 2020-12-31 | 27.71% | -2.67% | -6.90% | -0.63% |
| 2019-12-31 | 30.06% | 1.96% | 6.12% | 6.71% |
| 2018-12-31 | 30.74% | -4.18% | -13.52% | -2.28% |
| 2017-12-31 | 33.53% | 2.84% | 7.11% | 6.48% |
| 2016-12-31 | 32.91% | 1.58% | 4.89% | 6.26% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $1.02B | $788.80M |
| 2024-12-31 | $1.05B | $1.24B |
| 2023-12-31 | $302.05M | $454.83M |
| 2022-12-31 | $202.01M | $452.53M |
| 2021-12-31 | $162.58M | $450.23M |
| 2020-12-31 | $206.93M | $902.58M |
| 2019-12-31 | $149.90M | $932.48M |
| 2018-12-31 | $122.33M | $988.18M |
| 2017-12-31 | $176.27M | $593.57M |
| 2016-12-31 | $133.56M | $290.46M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $383.06M | $62.45M |
| 2024-12-31 | $207.61M | $43.87M |
| 2023-12-31 | $98.09M | $28.36M |
| 2022-12-31 | $4.75M | $21.88M |
| 2021-12-31 | $120.11M | $23.62M |
| 2020-12-31 | $63.31M | $25.05M |
| 2019-12-31 | $112.09M | $26.96M |
| 2018-12-31 | $49.80M | $31.26M |
| 2017-12-31 | $141.86M | $21.41M |
| 2016-12-31 | $72.30M | $18.04M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-29
- Consensus EPS estimate
- $1.57
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-28 | Jun/2026 | $1.30 |
| 2026-04-28 | - | - |
| 2026-02-17 | - | - |
| 2025-10-30 | - | - |
| 2025-07-31 | - | - |
| 2025-05-01 | - | - |
| 2025-02-25 | - | - |
| 2024-10-31 | - | - |
Filings and sources
- Company website
- na.itron.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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