Is the business good?
How good a business is ITRI?
Itron, Inc. earns 9.7% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.7%
Return on invested capital · cost of capital 9.0% · 0.74 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Scientific & Technical Instruments median 17% · 12 months to Q1 2026
- Cash conversion
- 1.36×
Cash conversion · 0.95× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −1.5%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −0.48% |
| FY2021 | −4.0% |
| FY2022 | −0.41% |
| FY2023 | 5.9% |
| FY2024 | 11% |
| FY2025 | 13% |
Details›
- Gross margin12 months to Q1 2026
- 39%
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 12%
- Free cash flow margin
- 17%
- R&D as % of revenue
- 9.0%
- Revenue, trailing twelve months
- $2.35B
- Free cash flow, trailing twelve months
- $395M
- Net income, trailing twelve months
- $289M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Scientific & Technical Instruments
Ranks #2 of 16 by Smart Score