NASDAQ : ITRI
Itron, Inc. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 92.81 USD (Oct 29, 2026, 3:18 PM EDT) · Market cap 4.07B
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Financial statements
Itron, Inc. (ITRI) reported revenue of 2.32B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.32B | 2.37B | 2.44B | 2.17B | 1.80B | 1.98B |
| Cost of Revenue | 1.38B | 1.48B | 1.60B | 1.46B | 1.27B | 1.41B |
| Gross Profit | 943.57M | 892.12M | 839.32M | 713.91M | 522.19M | 573.17M |
| Selling, General & Admin | 375.18M | 353.78M | 341.30M | 315.16M | 293.52M | 303.25M |
| Research & Development | 221.21M | 207.04M | 215.03M | 208.69M | 185.10M | 197.24M |
| Amortization of Goodwill & Intangibles | 29.72M | 18.03M | 17.83M | 18.92M | 25.72M | 35.80M |
| Operating Expenses | 626.11M | 578.86M | 574.16M | 542.76M | 504.34M | 536.29M |
| Operating Income | 317.46M | 313.26M | 265.15M | 171.15M | 17.85M | 36.88M |
| Interest Expense | -23.00M | -22.45M | -15.38M | -8.35M | -6.72M | -28.64M |
| Interest & Investment Income | 29.90M | 48.38M | 34.58M | 9.31M | 2.63M | 1.56M |
| Currency Exchange Gain (Loss) | -2.90M | -3.20M | ||||
| Other Non Operating Income (Expenses) | 3.03M | 4.09M | 3.46M | -69.00K | 1.76M | -11.50M |
| EBT Excluding Unusual Items | 327.38M | 343.28M | 287.81M | 172.04M | 12.62M | -4.90M |
| Merger & Restructuring Charges | -404.00K | -931.00K | -2.68M | -43.99M | 13.62M | -54.62M |
| Impairment of Goodwill | -38.48M | |||||
| Gain (Loss) on Sale of Assets | -79.00K | -597.00K | -667.00K | -3.50M | -64.29M | |
| Pretax Income | 330.23M | 342.27M | 284.53M | 127.39M | -15.74M | -123.81M |
| Income Tax Expense | 48.89M | 38.93M | 43.41M | 29.07M | -6.20M | -45.51M |
| Earnings From Continuing Operations | 281.34M | 303.33M | 241.12M | 98.32M | -9.55M | -78.30M |
| Minority Interest in Earnings | -1.61M | -2.28M | -2.02M | -1.40M | -185.00K | -2.96M |
| Net Income | 279.73M | 301.06M | 239.10M | 96.92M | -9.73M | -81.25M |
| Net Income to Common | 279.73M | 301.06M | 239.10M | 96.92M | -9.73M | -81.25M |
| Shares Outstanding (Basic) | 44.47M | 45.49M | 45.37M | 45.42M | 45.10M | 44.30M |
| Shares Outstanding (Diluted) | 45.14M | 46.32M | 46.19M | 45.84M | 45.10M | 44.30M |
| EPS (Basic) | 6.29 | 6.62 | 5.27 | 2.13 | -0.22 | -1.83 |
| EPS (Diluted) | 6.19 | 6.50 | 5.18 | 2.11 | -0.22 | -1.83 |
| Free Cash Flow | 367.51M | 383.06M | 207.61M | 98.09M | 4.75M | 120.11M |
| Free Cash Flow Per Share | 8.14 | 8.27 | 4.50 | 2.14 | 0.10 | 2.71 |
| Gross Margin | 40.66% | 37.69% | 34.39% | 32.84% | 29.08% | 28.93% |
| Operating Margin | 13.68% | 13.23% | 10.86% | 7.87% | 0.99% | 1.86% |
| Profit Margin | 12.05% | 12.72% | 9.80% | 4.46% | -0.54% | -4.10% |
| Free Cash Flow Margin | 15.83% | 16.18% | 8.51% | 4.51% | 0.27% | 6.06% |
| EBITDA | 378.72M | 362.78M | 321.43M | 226.91M | 84.61M | 121.03M |
| EBITDA Margin | 16.32% | 15.32% | 13.17% | 10.44% | 4.71% | 6.11% |
| D&A For EBITDA | 61.26M | 49.52M | 56.28M | 55.76M | 66.76M | 84.15M |
| EBIT | 317.46M | 313.26M | 265.15M | 171.15M | 17.85M | 36.88M |
| EBIT Margin | 13.68% | 13.23% | 10.86% | 7.87% | 0.99% | 1.86% |
| Effective Tax Rate | 14.80% | 11.38% | 15.26% | 22.82% | ||
| Revenue as Reported | 2.32B | 2.37B | 2.44B | 2.17B | 1.80B | 1.98B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 840.32M | 1.02B | 1.05B | 302.05M | 202.01M | 162.58M |
| Cash & Short-Term Investments | 840.32M | 1.02B | 1.05B | 302.05M | 202.01M | 162.58M |
| Receivables | 380.06M | 367.79M | 350.47M | 303.82M | 280.44M | 298.46M |
| Inventory | 280.97M | 242.89M | 270.73M | 283.69M | 228.70M | 165.80M |
| Other Current Assets | 182.97M | 191.24M | 143.46M | 159.88M | 118.44M | 123.09M |
| Total Current Assets | 1.68B | 1.82B | 1.82B | 1.05B | 829.58M | 749.93M |
| Property, Plant & Equipment | 166.57M | 141.53M | 144.38M | 169.99M | 192.95M | 228.71M |
| Goodwill | 1.69B | 1.34B | 1.05B | 1.05B | 1.04B | 1.10B |
| Other Intangible Assets | 255.05M | 83.34M | 43.11M | 46.28M | 64.94M | 92.53M |
| Long-Term Deferred Tax Assets | 258.79M | 265.18M | 310.28M | 247.21M | 211.98M | 181.47M |
| Other Long-Term Assets | 61.87M | 63.35M | 41.83M | 38.84M | 39.90M | 42.18M |
| Total Assets | 4.12B | 3.72B | 3.41B | 2.60B | 2.38B | 2.39B |
| Accounts Payable | 193.96M | 156.29M | 144.93M | 199.52M | 237.18M | 193.13M |
| Accrued Expenses | 104.80M | 122.25M | 137.38M | 135.80M | 89.43M | 113.53M |
| Current Portion of Long-Term Debt | 459.52M | |||||
| Current Portion of Leases | 15.83M | 14.58M | 14.98M | 15.97M | 16.60M | |
| Current Income Taxes Payable | 27.69M | 16.62M | 19.69M | 8.64M | 15.32M | 12.21M |
| Current Unearned Revenue | 218.97M | 187.82M | 150.72M | 124.21M | 95.57M | 82.82M |
| Other Current Liabilities | 50.41M | 53.90M | 60.96M | 54.09M | 45.10M | 83.06M |
| Total Current Liabilities | 595.83M | 1.01B | 528.26M | 537.24M | 498.57M | 501.34M |
| Long-Term Debt | 1.58B | 788.80M | 1.24B | 454.83M | 452.53M | 450.23M |
| Long-Term Leases | 40.91M | 19.62M | 25.35M | 32.66M | 44.37M | 57.31M |
| Pension & Post-Retirement Benefits | 59.80M | 62.00M | 59.54M | 63.89M | 57.84M | 87.86M |
| Long-Term Deferred Tax Liabilities | 1.41M | 623.00K | 565.00K | 697.00K | 833.00K | 2.00M |
| Other Long-Term Liabilities | 122.72M | 99.23M | 140.05M | 183.53M | 132.38M | 152.28M |
| Total Liabilities | 2.40B | 1.98B | 2.00B | 1.27B | 1.19B | 1.25B |
| Common Stock | 1.49B | 1.66B | 1.69B | 1.82B | 1.79B | 1.78B |
| Retained Earnings | 289.85M | 111.75M | -189.30M | -428.41M | -525.33M | -515.60M |
| Comprehensive Income & Other | -76.27M | -56.51M | -109.93M | -81.19M | -94.67M | -148.10M |
| Total Common Equity | 1.70B | 1.72B | 1.39B | 1.31B | 1.17B | 1.12B |
| Minority Interest | 20.56M | 21.60M | 20.83M | 20.52M | 23.08M | 26.68M |
| Shareholders' Equity | 1.72B | 1.74B | 1.41B | 1.33B | 1.19B | 1.14B |
| Total Liabilities & Equity | 4.12B | 3.72B | 3.41B | 2.60B | 2.38B | 2.39B |
| Total Debt | 1.62B | 1.28B | 1.28B | 502.46M | 512.86M | 524.14M |
| Net Cash (Debt) | -777.62M | -263.38M | -231.12M | -200.41M | -310.86M | -361.56M |
| Net Cash Per Share | -17.23 | -5.69 | -5.00 | -4.37 | -6.89 | -8.16 |
| Filing Date Shares Outstanding | 43.86M | 44.94M | 45.18M | 45.58M | 45.29M | 45.01M |
| Total Common Shares Outstanding | 43.85M | 44.93M | 45.13M | 45.51M | 45.19M | 45.15M |
| Working Capital | 1.09B | 810.09M | 1.29B | 512.20M | 331.01M | 248.59M |
| Book Value Per Share | 38.74 | 38.21 | 30.81 | 28.80 | 25.86 | 24.72 |
| Tangible Book Value | -246.72M | 288.28M | 295.36M | 212.12M | 64.81M | -75.43M |
| Tangible Book Value Per Share | -5.63 | 6.42 | 6.54 | 4.66 | 1.43 | -1.67 |
| Land | 9.49M | 9.65M | 8.51M | 7.85M | 8.57M | 8.95M |
| Buildings | 109.15M | 107.25M | 115.37M | 126.04M | 130.30M | 131.76M |
| Machinery | 424.16M | 433.61M | 414.06M | 444.69M | 426.37M | 426.04M |
| Construction In Progress | 18.92M | 19.23M | 22.25M | 24.32M | 19.40M | 39.53M |
| Order Backlog | 4.50B | 4.73B | 4.51B | 4.52B | 3.92B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 279.73M | 301.06M | 239.10M | 96.92M | -9.73M | -81.25M |
| Depreciation & Amortization | 61.26M | 49.52M | 56.28M | 55.76M | 66.76M | 84.15M |
| Other Amortization | 15.08M | 7.08M | 5.49M | 3.66M | 3.50M | 18.25M |
| Loss (Gain) From Sale of Assets | 79.00K | 597.00K | 667.00K | 3.50M | 64.29M | |
| Asset Writedown & Restructuring Costs | 462.00K | -25.00K | -191.00K | 385.00K | 37.86M | 8.74M |
| Stock-Based Compensation | 59.16M | 62.45M | 43.87M | 28.36M | 21.88M | 23.62M |
| Other Operating Activities | 20.63M | 76.90M | -17.07M | -16.97M | -4.51M | -52.58M |
| Change in Accounts Receivable | 1.25M | -4.21M | -49.14M | -19.49M | 5.06M | 60.24M |
| Change in Inventory | -27.49M | 32.68M | 5.97M | -52.12M | -68.12M | -3.72M |
| Change in Accounts Payable | 40.17M | 6.28M | -35.39M | -43.66M | 45.09M | -23.33M |
| Change in Unearned Revenue | 27.26M | 28.62M | 29.32M | 28.33M | 18.47M | -29.37M |
| Change in Other Net Operating Assets | -82.64M | -154.47M | -40.67M | 43.12M | -95.25M | 85.75M |
| Operating Cash Flow | 394.87M | 405.95M | 238.18M | 124.97M | 24.50M | 154.79M |
| Capital Expenditures | -27.35M | -22.89M | -30.56M | -26.88M | -19.75M | -34.68M |
| Cash Acquisitions | -839.93M | -325.04M | -34.10M | 23.00K | -8.67M | |
| Divestitures | 278.00K | 405.00K | -772.00K | 55.93M | 3.14M | |
| Other Investing Activities | 3.10M | -2.00M | 850.00K | 4.35M | 4.31M | 5.33M |
| Investing Cash Flow | -864.19M | -349.65M | -63.41M | -23.31M | 40.52M | -34.88M |
| Long-Term Debt Issued | 805.00M | 460.00M | ||||
| Long-Term Debt Repaid | -946.09M | |||||
| Net Debt Issued (Repaid) | 345.00M | 805.00M | -486.09M | |||
| Issuance of Common Stock | 3.78M | 7.32M | 8.32M | 3.67M | 3.45M | 394.50M |
| Repurchase of Common Stock | -252.23M | -100.00M | -100.00M | -16.97M | -8.03M | |
| Other Financing Activities | -116.71M | -4.78M | -133.75M | -7.18M | -5.22M | -53.26M |
| Financing Cash Flow | -20.17M | -97.46M | 579.57M | -3.51M | -18.74M | -152.89M |
| Foreign Exchange Rate Adjustments | -2.13M | 10.32M | -5.15M | 1.89M | -6.85M | -1.63M |
| Miscellaneous Cash Flow Adjustments | -9.75M | |||||
| Net Cash Flow | -491.62M | -30.84M | 749.19M | 100.04M | 39.43M | -44.35M |
| Free Cash Flow | 367.51M | 383.06M | 207.61M | 98.09M | 4.75M | 120.11M |
| Free Cash Flow Margin | 15.83% | 16.18% | 8.51% | 4.51% | 0.27% | 6.06% |
| Free Cash Flow Per Share | 8.14 | 8.27 | 4.50 | 2.14 | 0.10 | 2.71 |
| Levered Free Cash Flow | 331.87M | 267.76M | 211.27M | 87.51M | 38.30M | 206.18M |
| Unlevered Free Cash Flow | 338.81M | 274.72M | 215.39M | 89.07M | 39.00M | 205.83M |
| Cash Interest Paid | 12.53M | 13.15M | 1.34M | 1.83M | 1.62M | 8.98M |
| Cash Income Tax Paid | 62.23M | 56.32M | 80.17M | 54.55M | 11.91M | 7.07M |
| Change in Working Capital | -41.45M | -91.10M | -89.91M | -43.82M | -94.76M | 89.57M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.31B | 4.17B | 4.90B | 3.44B | 2.29B | 3.10B |
| Enterprise Value | 5.08B | 4.12B | 5.20B | 3.69B | 2.60B | 3.45B |
| Last Close Price | 99.77 | 92.86 | 108.58 | 75.51 | 50.65 | 68.52 |
| PE Ratio | 15.86 | 13.84 | 20.48 | 35.44 | ||
| Forward PE | 14.57 | 14.15 | 23.53 | 25.73 | 44.54 | 39.68 |
| PS Ratio | 1.89 | 1.76 | 2.01 | 1.58 | 1.27 | 1.56 |
| PB Ratio | 2.58 | 2.40 | 3.47 | 2.58 | 1.92 | 2.71 |
| P/TBV Ratio | 14.45 | 16.58 | 16.19 | 35.31 | ||
| P/FCF Ratio | 11.91 | 10.87 | 23.58 | 35.02 | 481.44 | 25.83 |
| P/OCF Ratio | 11.08 | 10.26 | 20.56 | 27.49 | 93.40 | 20.04 |
| PEG Ratio | 0.77 | 0.66 | 0.98 | 1.12 | 1.25 | 3.31 |
| EV/Sales Ratio | 2.22 | 1.74 | 2.13 | 1.70 | 1.45 | 1.74 |
| EV/EBITDA Ratio | 13.61 | 11.37 | 16.19 | 16.25 | 30.67 | 28.49 |
| EV/EBIT Ratio | 16.23 | 13.16 | 19.62 | 21.55 | 145.39 | 93.50 |
| EV/FCF Ratio | 14.02 | 10.77 | 25.06 | 37.60 | 546.03 | 28.71 |
| Debt / Equity Ratio | 0.94 | 0.74 | 0.91 | 0.38 | 0.43 | 0.46 |
| Debt / EBITDA Ratio | 4.16 | 3.38 | 3.69 | 2.01 | 4.76 | 3.63 |
| Debt / FCF Ratio | 4.40 | 3.35 | 6.18 | 5.12 | 107.90 | 4.36 |
| Net Debt / Equity Ratio | 0.45 | 0.15 | 0.16 | 0.15 | 0.26 | 0.32 |
| Net Debt / EBITDA Ratio | 2.05 | 0.73 | 0.72 | 0.88 | 3.67 | 2.99 |
| Net Debt / FCF Ratio | 2.12 | 0.69 | 1.11 | 2.04 | 65.40 | 3.01 |
| Asset Turnover | 0.59 | 0.66 | 0.81 | 0.87 | 0.75 | 0.79 |
| Inventory Turnover | 5.14 | 5.74 | 5.78 | 5.70 | 6.46 | 8.09 |
| Quick Ratio | 2.05 | 1.37 | 2.65 | 1.13 | 0.97 | 0.92 |
| Current Ratio | 2.83 | 1.80 | 3.44 | 1.95 | 1.66 | 1.50 |
| Return on Equity (ROE) | 16.39% | 19.26% | 17.58% | 7.79% | -0.82% | -7.90% |
| Return on Assets (ROA) | 5.07% | 5.49% | 5.51% | 4.29% | 0.47% | 0.92% |
| Return on Invested Capital (ROIC) | 10.84% | 15.24% | 14.16% | 8.71% | 1.19% | 2.35% |
| Return on Capital Employed (ROCE) | 9.00% | 11.60% | 9.20% | 8.30% | 0.90% | 1.90% |
| Earnings Yield | 6.31% | 7.23% | 4.88% | 2.82% | -0.43% | -2.62% |
| FCF Yield | 8.40% | 9.20% | 4.24% | 2.85% | 0.21% | 3.87% |
| Buyback Yield / Dilution | 2.53% | -0.29% | -0.77% | -1.63% | -1.81% | -10.06% |