Itron, Inc. (ITRI) Key Metrics
ITRI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.64B
- Enterprise value
- $4.95B
- P/E (TTM)
- 13.9 10-yr median 41.3
- Forward P/E
- 13.4
- PEG ratio
- 0.71
- Price / sales
- 1.6 10-yr median 1.4
- Price / book
- 2.5 10-yr median 3.0
- EV / EBITDA
- 12.1 10-yr median 16.2
- Dividend yield
- —
- Beta
- 1.32
ITRI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsITRI valuation Price multiples at each fiscal year-end price.
ITRI returns How much profit the business earns on the capital it uses.
ITRI per-share figures Results divided by the shares outstanding at year-end.
ITRI financial health Debt, liquidity and how easily interest is covered.
ITRI efficiency & capital use Working capital cycle and where the cash goes.
ITRI valuation history
ITRI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ITRI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ITRI cash returned to shareholders
ITRI price vs earnings per share
ITRI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.30B | $5.01B | $3.46B | $2.28B | $3.04B | $3.86B | $3.36B | $1.86B | $2.69B | $2.43B |
| Enterprise value | $4.57B | $5.25B | $3.66B | $2.60B | $3.45B | $4.64B | $4.28B | $2.75B | $3.12B | $2.60B |
| P/E ratio | 14.3 | 21.0 | 35.7 | — | — | — | 68.5 | — | 46.9 | 76.4 |
| Price / sales | 1.8 | 2.1 | 1.6 | 1.3 | 1.5 | 1.8 | 1.3 | 0.8 | 1.3 | 1.2 |
| Price / book | 2.5 | 3.6 | 2.6 | 2.0 | 2.7 | 4.7 | 4.2 | 2.6 | 3.4 | 3.8 |
| Price / free cash flow | 11.3 | 24.2 | 35.3 | 480.6 | 25.3 | 61.0 | 29.9 | 37.3 | 18.9 | 33.6 |
| Price / operating cash flow | 10.7 | 21.1 | 27.7 | 93.2 | 19.6 | 35.2 | 19.4 | 16.9 | 14.0 | 21.0 |
| EV / sales | 1.9 | 2.1 | 1.7 | 1.4 | 1.7 | 2.1 | 1.7 | 1.2 | 1.5 | 1.3 |
| EV / EBITDA | 11.0 | 16.3 | 16.1 | 30.7 | 25.0 | 25.8 | 17.1 | 11.5 | 14.1 | 12.2 |
| EV / free cash flow | 12.0 | 25.3 | 37.3 | 546.5 | 28.7 | 73.3 | 38.2 | 55.3 | 22.0 | 36.0 |
| Earnings yield | 7.0% | 4.8% | 2.8% | −0.4% | −2.7% | −1.5% | 1.5% | −5.3% | 2.1% | 1.3% |
| Free cash flow yield | 8.9% | 4.1% | 2.8% | 0.2% | 4.0% | 1.6% | 3.3% | 2.7% | 5.3% | 3.0% |
| Dividend yield | — | — | — | — | 16.6% | — | 1.5% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 2.3% | 2.0% | 0.0% | 0.7% | 16.9% | 0.0% | 2.2% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $92.86 | $108.58 | $75.51 | $50.65 | $68.52 | $95.90 | $83.95 | $47.29 | $68.20 | $62.85 |
| Per share | ||||||||||
| Revenue per share | $51.10 | $52.85 | $47.42 | $39.81 | $44.73 | $53.99 | $62.59 | $60.55 | $51.24 | $52.10 |
| Earnings per share | $6.50 | $5.18 | $2.11 | −$0.22 | −$1.83 | −$1.44 | $1.23 | −$2.53 | $1.45 | $0.82 |
| Operating cash flow per share | $8.72 | $5.16 | $2.73 | $0.54 | $3.49 | $2.72 | $4.32 | $2.80 | $4.86 | $3.00 |
| Free cash flow per share | $8.22 | $4.50 | $2.14 | $0.11 | $2.71 | $1.57 | $2.80 | $1.27 | $3.60 | $1.87 |
| Cash per share | $22.03 | $22.76 | $6.59 | $4.48 | $3.67 | $5.14 | $3.75 | $3.06 | $4.48 | $3.46 |
| Book value per share | $37.06 | $30.11 | $28.60 | $25.91 | $25.80 | $20.29 | $20.03 | $18.16 | $19.97 | $16.34 |
| Tangible book value per share | $6.22 | $6.39 | $4.63 | $1.44 | −$1.10 | −$11.14 | −$12.21 | −$16.85 | $3.44 | $2.77 |
| Dividends per share | — | — | — | — | $11.41 | — | $1.25 | — | $0.00 | $0.00 |
| Capex per share | $0.49 | $0.66 | $0.59 | $0.44 | $0.78 | $1.15 | $1.52 | $1.53 | $1.26 | $1.13 |
| Debt per share | $27.80 | $27.76 | $10.96 | $11.42 | $13.00 | $24.54 | $26.86 | $25.91 | $15.57 | $7.88 |
| Shares outstanding | 46.3M | 46.2M | 45.8M | 45.1M | 44.3M | 40.3M | 40.0M | 39.2M | 39.4M | 38.6M |
| Change in shares outstanding | +0.3% | +0.8% | +1.6% | +1.8% | +10.1% | +0.7% | +1.9% | −0.4% | +1.9% | +0.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 19.4% | 17.7% | 7.8% | −0.8% | −8.3% | −7.2% | 6.5% | −13.2% | 8.1% | 5.0% |
| Return on invested capital (ROIC) | 15.4% | 14.3% | 6.6% | −0.4% | −4.0% | −0.5% | 5.7% | −2.8% | 7.6% | 6.0% |
| Return on assets (ROA) | 8.4% | 8.0% | 3.9% | −0.4% | −3.2% | −2.2% | 1.8% | −4.2% | 3.1% | 2.0% |
| Return on tangible assets | 13.1% | 10.3% | 6.4% | −0.8% | −6.8% | −4.3% | 3.5% | −8.0% | 3.9% | 3.0% |
| Free cash flow margin | 16.1% | 8.5% | 4.5% | 0.3% | 6.1% | 2.9% | 4.5% | 2.1% | 7.0% | 3.6% |
| Income quality (OCF / net income) | 1.34 | 1.00 | 1.29 | — | — | — | 3.53 | — | 3.34 | 3.65 |
| Financial health | ||||||||||
| Total debt | $1.29B | $1.28B | $502.5M | $515.1M | $576.0M | $987.8M | $1.07B | $1.02B | $613.3M | $304.5M |
| Cash & short-term investments | $1.02B | $1.05B | $302.0M | $202.0M | $162.6M | $206.9M | $149.9M | $120.2M | $176.3M | $133.6M |
| Net debt | $267.2M | $231.1M | $200.4M | $313.1M | $413.4M | $780.8M | $924.0M | $896.4M | $437.0M | $171.0M |
| Debt / equity | 0.75 | 0.92 | 0.38 | 0.44 | 0.50 | 1.21 | 1.34 | 1.43 | 0.78 | 0.48 |
| Debt / assets | 0.35 | 0.38 | 0.19 | 0.22 | 0.24 | 0.38 | 0.40 | 0.39 | 0.29 | 0.19 |
| Net debt / EBITDA | 0.64 | 0.72 | 0.88 | 3.70 | 2.99 | 4.34 | 3.70 | 3.76 | 1.98 | 0.80 |
| Current ratio | 1.80 | 3.44 | 1.95 | 1.66 | 1.50 | 1.69 | 1.49 | 1.37 | 1.67 | 1.77 |
| Quick ratio | 1.56 | 2.92 | 1.43 | 1.21 | 1.17 | 1.36 | 1.15 | 1.03 | 1.29 | 1.38 |
| Interest coverage | 14.0 | 17.2 | 15.4 | -1.1 | -2.8 | -0.2 | 2.5 | -0.9 | 11.2 | 7.5 |
| Working capital | $810.1M | $1.29B | $512.2M | $331.0M | $248.6M | $380.4M | $325.9M | $243.4M | $342.0M | $319.4M |
| Invested capital | $1.98B | $1.62B | $1.51B | $1.48B | $1.56B | $1.60B | $1.72B | $1.61B | $1.22B | $802.6M |
| Tangible asset value | $309.9M | $316.2M | $232.6M | $87.9M | −$48.7M | −$424.6M | −$488.2M | −$640.1M | $154.6M | $125.7M |
| Net current asset value | −$160.2M | −$180.3M | −$223.4M | −$356.9M | −$501.1M | −$836.5M | −$909.8M | −$978.8M | −$450.8M | −$195.0M |
| Graham number | $73.61 | $59.22 | $36.89 | — | — | — | $23.50 | — | $25.56 | $17.39 |
| Graham net-net per share | −$12.19 | −$11.84 | −$13.11 | −$14.63 | −$17.65 | −$29.59 | −$32.23 | −$33.55 | −$18.50 | −$11.61 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $505.3M | — | $50.0M | — | $0 | $0 |
| Share buybacks (net) | $100.0M | $100.0M | $0 | $17.0M | $8.0M | $0 | $25.0M | $0 | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | 102.0% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 26.3% | 48.2% | 0.0% | 357.1% | 427.4% | 0.0% | 66.9% | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 1.0% | 1.3% | 1.2% | 1.1% | 1.8% | 2.1% | 2.4% | 2.5% | 2.5% | 2.2% |
| Capex / operating cash flow | 5.7% | 12.8% | 21.5% | 80.6% | 22.4% | 42.2% | 35.1% | 54.6% | 25.9% | 37.6% |
| Capex / depreciation | 0.46 | 0.54 | 0.48 | 0.30 | 0.41 | 0.47 | 0.53 | 0.49 | 0.78 | 0.64 |
| Stock-based compensation / revenue | 2.6% | 1.8% | 1.3% | 1.2% | 1.2% | 1.2% | 1.1% | 1.3% | 1.1% | 0.9% |
| R&D / revenue | 8.7% | 8.8% | 9.6% | 10.3% | 10.0% | 8.9% | 8.1% | 8.7% | 8.4% | 8.4% |
| SG&A / revenue | 14.9% | 13.9% | 14.2% | 16.2% | 15.2% | 12.7% | 13.9% | 17.8% | 16.2% | 16.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 55.4 | 48.9 | 49.1 | 58.8 | 61.5 | 70.8 | 66.4 | 64.1 | 67.8 | 61.9 |
| Days of inventory on hand | 63.5 | 63.2 | 64.1 | 56.5 | 45.1 | 47.7 | 46.8 | 46.0 | 48.5 | 47.7 |
| Days payables outstanding | 37.3 | 39.3 | 54.6 | 61.7 | 53.0 | 63.2 | 66.5 | 63.4 | 59.1 | 48.4 |
| Cash conversion cycle (days) | 81.7 | 72.8 | 58.5 | 53.7 | 53.7 | 55.3 | 46.6 | 46.7 | 57.2 | 61.2 |
| Receivables turnover | 6.59 | 7.46 | 7.44 | 6.20 | 5.93 | 5.16 | 5.50 | 5.69 | 5.39 | 5.90 |
| Payables turnover | 9.79 | 9.30 | 6.69 | 5.92 | 6.89 | 5.78 | 5.49 | 5.75 | 6.18 | 7.55 |
| Inventory turnover | 5.74 | 5.78 | 5.70 | 6.46 | 8.09 | 7.66 | 7.80 | 7.94 | 7.53 | 7.64 |
| Asset turnover | 0.66 | 0.81 | 0.87 | 0.75 | 0.79 | 0.82 | 0.94 | 1.01 | 1.10 | 1.25 |
| Average receivables | $359.1M | $327.1M | $292.1M | $289.4M | $334.1M | $421.4M | $455.0M | $417.6M | $374.8M | $341.2M |
| Average payables | $150.6M | $172.2M | $218.3M | $215.2M | $204.4M | $271.9M | $319.0M | $286.1M | $217.4M | $179.3M |
| Average inventory | $256.8M | $277.2M | $256.2M | $197.2M | $174.1M | $205.1M | $224.3M | $207.3M | $178.4M | $177.0M |
| Intangibles / total assets | 38.4% | 32.1% | 42.2% | 46.4% | 49.8% | 48.5% | 47.6% | 52.7% | 30.9% | 33.3% |
Computed from ITRI's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ITRI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Itron traded at 14.3 times earnings, against a 10-year median of 41.3. Based on the latest twelve months, the trailing P/E is 13.9 and the forward P/E is 13.4. Itron earned a return on equity of 19.4% and a return on invested capital of 15.4% in fiscal 2025. It ended the year with $1.3 billion of debt and $1.0 billion in cash and short-term investments, net debt of $267.2 million. It returned $100.0 million to shareholders: $0 in dividends and $100.0 million in share buybacks, 26% of free cash flow. The share count rose 19.9% from 38.6M to 46.3M over 9 years.
See the ITRI income statement, the ITRI chart for price history, or the ITRI stock overview for the latest quote and news.
ITRI key metrics FAQ
What is Itron's P/E ratio?
Itron's trailing P/E ratio is 13.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.4. At the end of fiscal 2025 it was 14.3, compared with a 10-year median of 41.3.
What is Itron's EV/EBITDA?
Itron's enterprise value was 11.0 times EBITDA at the end of fiscal 2025 (enterprise value $4.6 billion, EBITDA $414.2 million); the current EV/EBITDA is 12.1.
What is Itron's return on equity?
Itron's return on equity (ROE) was 19.4% in fiscal 2025: net income of $301.1 million on average shareholders' equity of $1.6 billion.
What is Itron's ROIC?
Itron's return on invested capital was 15.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Itron have?
Itron had total debt of $1.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.75 and $267.2 million of net debt (0.64 times EBITDA).
Does Itron buy back its shares?
Yes. Itron spent $100.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.3% over the year, to 46.3M..
What is Itron's free cash flow yield?
Itron generated $380.8 million of free cash flow in fiscal 2025, a free cash flow yield of 8.9% on its market value at year-end ($4.3 billion).
What is Itron's current ratio?
Itron's current ratio was 1.80 at the end of fiscal 2025: current assets were 1.80 times current liabilities.