Itron, Inc. (ITRI) Income Statement
ITRI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsITRI revenue and net income
Where ITRI's revenue goes
2025Each bar shows an amount and its share of revenue. ITRI kept 12.7% of revenue as net income.
ITRI profit margins
ITRI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.0% | +9.7% | +1.7% | +2.3% |
| Gross profit | +6.3% | +19.5% | +8.2% | +4.8% |
| Operating income | +18.9% | — | — | +19.5% |
| Net income | +25.9% | — | — | +37.3% |
| EPS (diluted) | +26.6% | +85.4% | +30.9% | +21.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ITRI quarterly EPS vs estimates
Itron beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $1.57).
ITRI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.37B | $2.44B | $2.17B | $1.80B | $1.98B | $2.17B | $2.50B | $2.38B | $2.02B | $2.01B |
| Cost of revenue | $1.48B | $1.60B | $1.46B | $1.27B | $1.41B | $1.57B | $1.75B | $1.65B | $1.34B | $1.35B |
| Gross profit | $892.1M | $839.3M | $713.9M | $522.2M | $573.2M | $602.2M | $752.3M | $730.3M | $675.2M | $660.3M |
| Research & development | $207.0M | $215.0M | $208.7M | $185.1M | $197.2M | $194.1M | $202.2M | $207.9M | $170.0M | $168.2M |
| Sales, general & admin | $353.0M | $339.1M | $308.9M | $290.5M | $300.5M | $276.9M | $346.9M | $423.2M | $326.5M | $321.7M |
| Total operating expenses | $578.0M | $575.2M | $585.0M | $529.6M | $652.5M | $612.6M | $619.6M | $780.0M | $521.9M | $561.5M |
| Operating income | $314.1M | $264.1M | $128.9M | −$7.4M | −$79.3M | −$10.4M | $132.7M | −$49.7M | $154.9M | $101.0M |
| Interest income | $48.4M | $34.6M | $7.2M | $2.6M | $1.6M | $3.0M | $1.8M | $2.2M | $2.1M | $865,000 |
| Interest expense | $22.5M | $15.4M | $8.3M | $6.7M | $28.6M | $44.0M | $52.5M | $58.2M | $13.8M | $13.5M |
| Income before taxes | $342.3M | $284.5M | $127.4M | −$15.7M | −$123.8M | −$56.6M | $73.0M | −$109.2M | $134.6M | $84.6M |
| Income taxes | $38.9M | $43.4M | $29.1M | −$6.2M | −$45.5M | $238,000 | $20.6M | −$12.6M | $74.3M | $49.6M |
| Net income | $301.1M | $239.1M | $96.9M | −$9.7M | −$81.3M | −$58.0M | $49.0M | −$99.2M | $57.3M | $31.8M |
| EBITDA | $414.2M | $321.4M | $226.9M | $84.6M | $138.1M | $179.8M | $249.7M | $238.7M | $221.1M | $213.4M |
| EPS (diluted) | $7.14 | $5.64 | $3.35 | $1.12 | $1.76 | $1.86 | $3.33 | $2.65 | $3.06 | $2.33 |
| Gross margin | 37.7% | 34.4% | 32.8% | 29.1% | 28.9% | 27.7% | 30.1% | 30.7% | 33.5% | 32.8% |
| Operating margin | 13.3% | 10.8% | 5.9% | −0.4% | −4.0% | −0.5% | 5.3% | −2.1% | 7.7% | 5.0% |
| Net margin | 12.7% | 9.8% | 4.5% | −0.5% | −4.1% | −2.7% | 2.0% | −4.2% | 2.8% | 1.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $562.9M | $587.0M | $571.7M | $581.6M | $606.8M | $607.2M | $612.9M | $615.5M | $609.1M | $603.4M | $577.2M | $560.8M |
| Cost of revenue | $332.3M | $350.7M | $339.9M | $362.1M | $383.1M | $389.9M | $399.0M | $405.9M | $398.6M | $398.1M | $380.8M | $373.6M |
| Gross profit | $230.6M | $236.3M | $231.7M | $219.5M | $223.6M | $217.2M | $213.9M | $209.6M | $210.5M | $205.4M | $196.4M | $187.2M |
| Research & development | $56.1M | $55.0M | $53.1M | $50.0M | $53.8M | $50.1M | $58.3M | $51.2M | $53.1M | $52.4M | $53.9M | $51.6M |
| Sales, general & admin | — | $105.4M | $95.3M | $83.1M | $87.6M | $86.9M | $85.0M | $79.6M | $88.4M | $86.0M | $81.6M | $76.6M |
| Total operating expenses | $154.6M | $168.5M | $153.0M | $137.6M | $146.0M | $141.5M | $151.2M | $135.7M | $145.8M | $142.6M | $147.1M | $132.3M |
| Operating income | $76.1M | $67.8M | $78.7M | $82.0M | $77.7M | $75.7M | $62.7M | $73.9M | $64.6M | $62.8M | $49.3M | $54.9M |
| Interest income | — | $5.7M | $10.8M | $13.6M | $12.3M | $11.7M | $12.2M | $13.4M | $5.1M | $3.8M | $3.3M | $2.6M |
| Interest expense | $5.8M | $5.8M | $11.0M | $3.8M | $5.6M | $5.6M | $5.6M | $5.6M | $2.3M | $1.9M | $1.9M | $2.4M |
| Income before taxes | $80.2M | $67.2M | $85.8M | $90.7M | $83.5M | $82.3M | $69.8M | $82.4M | $67.0M | $65.2M | $49.5M | $55.7M |
| Income taxes | $26.7M | $13.6M | −$17.2M | $24.5M | $14.7M | $16.9M | $11.3M | $3.5M | $15.2M | $13.4M | $4.6M | $15.4M |
| Net income | $53.3M | $53.5M | $101.6M | $65.6M | $68.3M | $65.5M | $58.1M | $78.0M | $51.3M | $51.7M | $44.4M | $40.2M |
| EBITDA | $91.0M | $91.5M | $110.1M | $106.6M | $101.2M | $99.9M | $80.1M | $88.1M | $78.0M | $75.2M | $69.3M | $67.4M |
| EPS (diluted) | $1.59 | $1.49 | $2.46 | $1.54 | $1.62 | $1.52 | $1.35 | $1.84 | $1.21 | $1.24 | $1.23 | $0.98 |
| Gross margin | 41.0% | 40.3% | 40.5% | 37.7% | 36.9% | 35.8% | 34.9% | 34.1% | 34.6% | 34.0% | 34.0% | 33.4% |
| Operating margin | 13.5% | 11.5% | 13.8% | 14.1% | 12.8% | 12.5% | 10.2% | 12.0% | 10.6% | 10.4% | 8.5% | 9.8% |
| Net margin | 9.5% | 9.1% | 17.8% | 11.3% | 11.3% | 10.8% | 9.5% | 12.7% | 8.4% | 8.6% | 7.7% | 7.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ITRI's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ITRI financial results
In fiscal year 2025 (ended December 31, 2025), Itron reported revenue of $2.4 billion, down 3.0% from the year before. It had net income of $301.1 million (up 25.9%), a net profit margin of 12.7%. Diluted earnings per share came to $7.14. Over five years revenue grew at an average rate of 1.7% a year.
See the ITRI stock overview for the latest quote and news, or the ITRI chart for price history and technical indicators.
ITRI income statement FAQ
What is Itron's annual revenue?
Itron reported total revenue of $2.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.0% from $2.4 billion the previous year.
Is Itron profitable?
Yes. Itron reported net income of $301.1 million in fiscal 2025, a net profit margin of 12.7%; its operating margin was 13.3%.
What is Itron's gross margin?
Itron's gross margin was 37.7% in fiscal 2025: for every $100 of revenue, Itron kept $38 after the direct cost of its products and services.
How much does Itron spend on research and development?
Itron spent $207.0 million on research and development in fiscal 2025, 8.7% of revenue.
How fast is Itron growing?
Revenue grew 1.7% a year on average over the last five fiscal years, from $2.2 billion to $2.4 billion.
What are Itron's earnings per share?
Itron earned $7.14 per diluted share in fiscal 2025, compared with $5.64 a year earlier.
When will Itron report its next earnings?
Itron is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 before the market opens.
When does Itron's fiscal year end?
Itron's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.