Itron, Inc.

ITRI Nasdaq Instruments For Meas & Testing Of Electricity & Elec Signals Financials FY2016–FY2025

Itron, Inc. had $2.4B of revenue in fiscal 2025, down 3.0% on the year before. Over five years, revenue changed +1.7% a year on average.

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Last close · Oct 23, 2026

$87.65

0.6%

Earnings calendar · Itron, Inc.

Every quarter, companies publish how much they sold and earned. These are the days Itron, Inc. did it, and the next one. Share prices often move a lot on those days.

Next results

October 27, 2026

Tuesday · today

Time: Before the market opens
Covers: Period ended Sep 30, 2026
Expected EPS: $1.57
Source: Earnings calendar

See who else reports that week →

Date	Results for	Time	Source
Jul 28, 2026	Q2 '26	Before the market opens	8-K ↗
Apr 28, 2026	Q1 '26	Before the market opens	8-K ↗
Feb 17, 2026	Q4 '25	Before the market opens	8-K ↗
Oct 30, 2025	Q3 '25	Before the market opens	8-K ↗
Jul 31, 2025	Q2 '25	Before the market opens	8-K ↗
May 1, 2025	Q1 '25	Before the market opens	8-K ↗
Feb 25, 2025	Q4 '24	Before the market opens	8-K ↗
Oct 31, 2024	Q3 '24	Before the market opens	8-K ↗

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

Results coming up

Results today

Itron, Inc. will publish its results for the period ended Sep 30, 2026 on Tuesday October 27, 2026.

October 27, 2026
Before the market opens
Date from the earnings calendar

Analysts expect EPS of $1.57

Consensus estimate, usually adjusted, so it may differ from the reported (GAAP) figure.

Last results Jul 28, 2026

Share prices often move a lot around results. Dates can change: the company’s own announcement is final. Not investment advice.

KIRA’s summary AI analyst

Hi! I read Itron, Inc.’s latest annual report (fiscal 2025). Here is what stands out:

4 strengths 1 to watch

1.Sales and profit

See section →

Itron, Inc. had $2.4B of revenue in fiscal 2025, down 3.0% on the year before. Over five years, revenue changed +1.7% a year on average.
Its operating margin was 13.2%, up 2.4 pts: of every 100 in sales, about 13 is left after running the business.
Itron, Inc. made $301M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 25.9% a year.

2.Cash and shareholders

See section →

Free cash flow was $383M in fiscal 2025, 16.2% of revenue.
Itron, Inc. returned $100M to shareholders in fiscal 2025, 26% of free cash flow. The diluted share count rose 0.3%.
In the last 12 months, insiders sold $15.4M of shares on the open market and bought none.

3.Financial health

See section →

Itron, Inc. owes $245M more than it holds in cash, about 0.7 years of operating profit.
Its return on capital was 14.1%: every 100 invested in the business earned about 14 in a year.
Itron, Inc. passes 6 of 9 financial health tests (Piotroski F-score).

Itron, Inc. in 30 seconds

Good So-so Weak

Are sales growing?

−3.0%

No. Sales fell 3.0% last year.

Does it make a profit?

12.7%

Yes. It keeps 12.7% of every sale as profit.

Does profit turn into cash?

16.2%

Yes. 16.2% of sales ends up as free cash.

Is debt under control?

0.7x

Yes. It could repay its debt with 0.7 years of operating profit.

How healthy are the accounts?

6 / 9

Mixed. It passes 6 of 9 health tests.

How is the share priced?

14.7x

One share costs 14.7 times its yearly profit per share.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2025

Market cap

$3.9B

Oct 23 close

P/E

14.7x

On $5.98 EPS (TTM)

Charts by

Sales and profit

Is it selling more, and how much does it keep?

Revenue and margins

KIRA · Itron, Inc. had $2.4B of revenue in fiscal 2025, down 3.0% on the year before. Over five years, revenue changed +1.7% a year on average. Its operating margin was 13.2%, up 2.4 pts: of every 100 in sales, about 13 is left after running the business.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

FY16

Revenue $2.0B

FY17

Revenue $2.0B

FY18

Revenue $2.4B

FY19

Revenue $2.5B

FY20

Revenue $2.2B

FY21

Revenue $2.0B

FY22

Revenue $1.8B

FY23

Revenue $2.2B

FY24

Revenue $2.4B

FY25

Revenue $2.4B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Revenue

Q3 '23

Revenue $561M

Q4 '23

Revenue $577M

Q1 '24

Revenue $603M

Q2 '24

Revenue $609M

Q3 '24

Revenue $615M

Q4 '24

Revenue $613M

Q1 '25

Revenue $607M

Q2 '25

Revenue $607M

Q3 '25

Revenue $582M

Q4 '25

Revenue $572M

Q1 '26

Revenue $587M

Q2 '26

Revenue $563M

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Margins, % of revenue

FY16

Gross 32.9%

Operating 5.0%

Net 1.6%

FCF 3.6%

FY17

Gross 33.5%

Operating 7.7%

Net 2.8%

FCF 7.0%

FY18

Gross 30.7%

Operating −2.1%

Net −4.2%

FCF 2.1%

FY19

Gross 30.1%

Operating 5.3%

Net 2.0%

FCF 4.5%

FY20

Gross 27.7%

Operating −0.5%

Net −2.7%

FCF 2.9%

FY21

Gross 28.9%

Operating −4.0%

Net −4.1%

FCF 6.1%

FY22

Gross 29.1%

Operating −0.4%

Net −0.5%

FCF 0.3%

FY23

Gross 32.8%

Operating 5.9%

Net 4.5%

FCF 4.5%

FY24

Gross 34.4%

Operating 10.8%

Net 9.8%

FCF 8.5%

FY25

Gross 37.7%

Operating 13.2%

Net 12.7%

FCF 16.2%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Gross Operating Net FCF

Margins, % of revenue

Q3 '23

Gross 33.4%

Operating 9.8%

Net 7.2%

FCF 5.0%

Q4 '23

Gross 34.0%

Operating 8.5%

Net 7.7%

FCF 6.8%

Q1 '24

Gross 34.0%

Operating 10.4%

Net 8.6%

FCF 5.7%

Q2 '24

Gross 34.6%

Operating 10.6%

Net 8.4%

FCF 7.3%

Q3 '24

Gross 34.1%

Operating 12.0%

Net 12.7%

FCF 9.5%

Q4 '24

Gross 34.9%

Operating 10.2%

Net 9.5%

FCF 11.4%

Q1 '25

Gross 35.8%

Operating 12.6%

Net 10.8%

FCF 11.1%

Q2 '25

Gross 36.9%

Operating 12.6%

Net 11.3%

FCF 14.9%

Q3 '25

Gross 37.7%

Operating 14.1%

Net 11.3%

FCF 19.5%

Q4 '25

Gross 40.5%

Operating 13.8%

Net 17.8%

FCF 19.5%

Q1 '26

Gross 40.3%

Operating 11.5%

Net 9.1%

FCF 13.5%

Q2 '26

Gross 41.0%

Operating 13.5%

Net 9.5%

FCF 14.5%

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Gross Operating Net FCF

Net income and earnings per share

KIRA · Itron, Inc. made $301M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 25.9% a year.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

FY16

Net income $31.8M

FY17

Net income $57.3M

FY18

Net income −$99.3M

FY19

Net income $49.0M

FY20

Net income −$58.0M

FY21

Net income −$81.3M

FY22

Net income −$9.7M

FY23

Net income $96.9M

FY24

Net income $239M

FY25

Net income $301M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Net income

Q3 '23

Net income $40.2M

Q4 '23

Net income $44.4M

Q1 '24

Net income $51.7M

Q2 '24

Net income $51.3M

Q3 '24

Net income $78.0M

Q4 '24

Net income $58.1M

Q1 '25

Net income $65.5M

Q2 '25

Net income $68.3M

Q3 '25

Net income $65.6M

Q4 '25

Net income $102M

Q1 '26

Net income $53.5M

Q2 '26

Net income $53.3M

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Diluted EPS

FY16

Diluted EPS $0.82

FY17

Diluted EPS $1.45

FY18

Diluted EPS −$2.53

FY19

Diluted EPS $1.23

FY20

Diluted EPS −$1.44

FY21

Diluted EPS −$1.83

FY22

Diluted EPS −$0.22

FY23

Diluted EPS $2.11

FY24

Diluted EPS $5.18

FY25

Diluted EPS $6.50

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Diluted EPS

Q3 '23

Diluted EPS $0.87

Q4 '23

Diluted EPS $0.97

Q1 '24

Diluted EPS $1.12

Q2 '24

Diluted EPS $1.10

Q3 '24

Diluted EPS $1.70

Q4 '24

Diluted EPS $1.26

Q1 '25

Diluted EPS $1.42

Q2 '25

Diluted EPS $1.47

Q3 '25

Diluted EPS $1.41

Q4 '25

Diluted EPS $2.20

Q1 '26

Diluted EPS $1.18

Q2 '26

Diluted EPS $1.19

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

KIRA · Free cash flow was $383M in fiscal 2025, 16.2% of revenue.

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

Free cash flow

FY16

Free cash flow $72.3M

FY17

Free cash flow $142M

FY18

Free cash flow $49.8M

FY19

Free cash flow $112M

FY20

Free cash flow $63.3M

FY21

Free cash flow $120M

FY22

Free cash flow $4.8M

FY23

Free cash flow $98.1M

FY24

Free cash flow $208M

FY25

Free cash flow $383M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Free cash flow

Q3 '23

Free cash flow $28.3M

Q4 '23

Free cash flow $39.3M

Q1 '24

Free cash flow $34.2M

Q2 '24

Free cash flow $44.6M

Q3 '24

Free cash flow $58.7M

Q4 '24

Free cash flow $70.2M

Q1 '25

Free cash flow $67.5M

Q2 '25

Free cash flow $90.7M

Q3 '25

Free cash flow $113M

Q4 '25

Free cash flow $112M

Q1 '26

Free cash flow $79.0M

Q2 '26

Free cash flow $81.5M

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Cash from operations vs capital spending

FY16

Cash from operations $116M

Capital spending $43.5M

FY17

Cash from operations $191M

Capital spending $49.5M

FY18

Cash from operations $110M

Capital spending $60.0M

FY19

Cash from operations $173M

Capital spending $60.7M

FY20

Cash from operations $110M

Capital spending $46.2M

FY21

Cash from operations $155M

Capital spending $34.7M

FY22

Cash from operations $24.5M

Capital spending $19.7M

FY23

Cash from operations $125M

Capital spending $26.9M

FY24

Cash from operations $238M

Capital spending $30.6M

FY25

Cash from operations $406M

Capital spending $22.9M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Cash from operations Capital spending

Cash from operations vs capital spending

Q3 '23

Cash from operations $34.1M

Capital spending $5.8M

Q4 '23

Cash from operations $47.9M

Capital spending $8.6M

Q1 '24

Cash from operations $41.3M

Capital spending $7.1M

Q2 '24

Cash from operations $51.7M

Capital spending $7.1M

Q3 '24

Cash from operations $65.3M

Capital spending $6.6M

Q4 '24

Cash from operations $79.8M

Capital spending $9.7M

Q1 '25

Cash from operations $72.1M

Capital spending $4.6M

Q2 '25

Cash from operations $96.7M

Capital spending $6.0M

Q3 '25

Cash from operations $118M

Capital spending $4.4M

Q4 '25

Cash from operations $119M

Capital spending $7.8M

Q1 '26

Cash from operations $85.5M

Capital spending $6.5M

Q2 '26

Cash from operations $88.1M

Capital spending $6.6M

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Cash from operations Capital spending

Dividends, buybacks and share count

KIRA · Itron, Inc. returned $100M to shareholders in fiscal 2025, 26% of free cash flow. The diluted share count rose 0.3%.

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

FY16

Dividends —

Buybacks $0.0M

FY17

Dividends —

Buybacks $0.0M

FY18

Dividends —

Buybacks $0.0M

FY19

Dividends —

Buybacks $25.0M

FY20

Dividends —

Buybacks $0.0M

FY21

Dividends —

Buybacks $8.0M

FY22

Dividends —

Buybacks $17.0M

FY23

Dividends —

Buybacks $0.0M

FY24

Dividends —

Buybacks $100M

FY25

Dividends —

Buybacks $100M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Dividends Buybacks

Dividends and buybacks

Q3 '23

Dividends —

Buybacks $0.0M

Q4 '23

Dividends —

Buybacks $0.0M

Q1 '24

Dividends —

Buybacks —

Q2 '24

Dividends —

Buybacks —

Q3 '24

Dividends —

Buybacks $0.0M

Q4 '24

Dividends —

Buybacks $0.0M

Q1 '25

Dividends —

Buybacks $0.0M

Q2 '25

Dividends —

Buybacks $0.0M

Q3 '25

Dividends —

Buybacks $0.0M

Q4 '25

Dividends —

Buybacks $100M

Q1 '26

Dividends —

Buybacks $100M

Q2 '26

Dividends —

Buybacks $52.2M

Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26

Dividends Buybacks

Diluted shares outstanding (annual)

FY16

Diluted shares 0.04B

FY17

Diluted shares 0.04B

FY18

Diluted shares 0.04B

FY19

Diluted shares 0.04B

FY20

Diluted shares 0.04B

FY21

Diluted shares 0.04B

FY22

Diluted shares 0.05B

FY23

Diluted shares 0.05B

FY24

Diluted shares 0.05B

FY25

Diluted shares 0.05B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Insider trades

KIRA · In the last 12 months, insiders sold $15.4M of shares on the open market and bought none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$15.4M

8 insiders

Of sales under plans

15%

$2.2M

Date	Insider	Trade	Shares	Price	Value	Filing
Sep 3, 2026	Justin K PatrickSVP, Device Solutions	Sold plan	10,210	$97.36	$1.0M	Form 4
Aug 25, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	283	$99.99	$0.0M	Form 4
Aug 24, 2026	Thomas DeitrichPresident & CEO, Director	Sold	887	$98.79	$0.1M	Form 4
Aug 24, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	178	$98.79	$0.0M	Form 4
Aug 24, 2026	Justin K PatrickSVP, Device Solutions	Sold	222	$98.79	$0.0M	Form 4
Aug 24, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	200	$98.79	$0.0M	Form 4
Aug 24, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	76	$98.79	$0.0M	Form 4
Aug 24, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	331	$98.79	$0.0M	Form 4
Aug 24, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	329	$98.79	$0.0M	Form 4
Aug 24, 2026	Joan S HooperSVP & CFO	Sold	455	$98.79	$0.0M	Form 4
Aug 21, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	247	$98.87	$0.0M	Form 4
Aug 20, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	286	$97.83	$0.0M	Form 4
Aug 20, 2026	Joan S HooperSVP & CFO	Sold	4,406	$98.86	$0.4M	Form 4
Aug 20, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	275	$97.83	$0.0M	Form 4
Aug 20, 2026	Justin K PatrickSVP, Device Solutions	Sold	212	$97.83	$0.0M	Form 4
Aug 20, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	187	$97.83	$0.0M	Form 4
Aug 20, 2026	Thomas DeitrichPresident & CEO, Director	Sold	783	$97.83	$0.1M	Form 4
Aug 20, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	195	$97.83	$0.0M	Form 4
Aug 20, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	58	$97.83	$0.0M	Form 4
Jun 3, 2026	John F. MarcoliniSVP, Networked Solutions	Sold plan	11,400	$82.99	$0.9M	Form 4
May 27, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	293	$84.50	$0.0M	Form 4
May 26, 2026	Thomas DeitrichPresident & CEO, Director	Sold	862	$84.37	$0.1M	Form 4
May 26, 2026	Joan S HooperSVP & CFO	Sold	442	$84.37	$0.0M	Form 4
May 26, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	174	$84.37	$0.0M	Form 4
May 26, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	74	$84.37	$0.0M	Form 4
May 26, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	322	$84.37	$0.0M	Form 4
May 26, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	319	$84.37	$0.0M	Form 4
May 26, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	195	$84.37	$0.0M	Form 4
May 26, 2026	Justin K PatrickSVP, Device Solutions	Sold	216	$84.37	$0.0M	Form 4
May 21, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	255	$80.88	$0.0M	Form 4
May 20, 2026	Joan S HooperSVP & CFO	Sold	355	$79.60	$0.0M	Form 4
May 20, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	267	$79.60	$0.0M	Form 4
May 20, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	181	$79.60	$0.0M	Form 4
May 20, 2026	Justin K PatrickSVP, Device Solutions	Sold	206	$79.60	$0.0M	Form 4
May 20, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	57	$79.60	$0.0M	Form 4
May 20, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	189	$79.60	$0.0M	Form 4
May 20, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	277	$79.60	$0.0M	Form 4
May 20, 2026	Thomas DeitrichPresident & CEO, Director	Sold	760	$79.60	$0.1M	Form 4
May 11, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	124	$81.59	$0.0M	Form 4
Feb 26, 2026	Joan S HooperSVP & CFO	Sold	3,533	$95.92	$0.3M	Form 4
Feb 25, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	519	$97.84	$0.1M	Form 4
Feb 24, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	348	$94.81	$0.0M	Form 4
Feb 24, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	560	$94.81	$0.1M	Form 4
Feb 24, 2026	Thomas DeitrichPresident & CEO, Director	Sold	1,772	$94.81	$0.2M	Form 4
Feb 24, 2026	Joan S HooperSVP & CFO	Sold	962	$94.81	$0.1M	Form 4
Feb 24, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	188	$94.81	$0.0M	Form 4
Feb 24, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	176	$94.81	$0.0M	Form 4
Feb 24, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	544	$94.81	$0.1M	Form 4
Feb 24, 2026	Justin K PatrickSVP, Device Solutions	Sold	385	$94.81	$0.0M	Form 4
Feb 23, 2026	Donald L. Reeves IIISVP, Outcomes	Sold plan	1,055	$96.25	$0.1M	Form 4
Feb 20, 2026	Thomas DeitrichPresident & CEO, Director	Sold	3,061	$100.17	$0.3M	Form 4
Feb 20, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	1,071	$100.17	$0.1M	Form 4
Feb 20, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	729	$100.17	$0.1M	Form 4
Feb 20, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	763	$100.17	$0.1M	Form 4
Feb 20, 2026	Justin K PatrickSVP, Device Solutions	Sold	828	$100.17	$0.1M	Form 4
Feb 20, 2026	Joan S HooperSVP & CFO	Sold	1,426	$100.17	$0.1M	Form 4
Feb 20, 2026	David Marshall WrightVP, Corp. Controller & CAO	Sold	264	$100.17	$0.0M	Form 4
Feb 20, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	1,074	$100.17	$0.1M	Form 4
Feb 19, 2026	Christopher E. WareSVP, GC & Corp. Secretary	Sold	4,486	$99.54	$0.4M	Form 4
Feb 19, 2026	Donald L. Reeves IIISVP, Outcomes	Sold	5,419	$99.54	$0.5M	Form 4
Feb 19, 2026	Joan S HooperSVP & CFO	Sold	15,293	$99.54	$1.5M	Form 4
Feb 19, 2026	Thomas DeitrichPresident & CEO, Director	Sold	56,095	$99.54	$5.6M	Form 4
Feb 19, 2026	John F. MarcoliniSVP, Networked Solutions	Sold	6,948	$99.54	$0.7M	Form 4
Feb 19, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	3,755	$99.54	$0.4M	Form 4
Feb 19, 2026	Justin K PatrickSVP, Device Solutions	Sold	4,930	$99.54	$0.5M	Form 4
Feb 11, 2026	Laurie Ann Pulatie-HahnSVP, HR	Sold	142	$105.26	$0.0M	Form 4
Dec 10, 2025	Donald L. Reeves IIISVP, Outcomes	Sold plan	526	$96.64	$0.1M	Form 4
Nov 24, 2025	Justin K PatrickSVP, Device Solutions	Sold	379	$96.51	$0.0M	Form 4
Nov 24, 2025	John F. MarcoliniSVP, Networked Solutions	Sold	553	$96.51	$0.1M	Form 4
Nov 24, 2025	Christopher E. WareSVP, GC & Corp. Secretary	Sold	343	$96.51	$0.0M	Form 4
Nov 24, 2025	Thomas DeitrichPresident & CEO, Director	Sold	1,750	$96.51	$0.2M	Form 4
Nov 24, 2025	Laurie Ann Pulatie-HahnSVP, HR	Sold	108	$96.51	$0.0M	Form 4
Nov 24, 2025	Joan S HooperSVP & CFO	Sold	948	$96.51	$0.1M	Form 4
Nov 24, 2025	Donald L. Reeves IIISVP, Outcomes	Sold	536	$96.51	$0.1M	Form 4
Nov 24, 2025	David Marshall WrightVP, Corp. Controller & CAO	Sold	104	$96.51	$0.0M	Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA · Itron, Inc. owes $245M more than it holds in cash, about 0.7 years of operating profit.

Cash, debt and the ratios that show how comfortably Itron, Inc. can carry it.

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Cash vs debt (incl. leases)

FY16

Cash $134M

Debt $305M

FY17

Cash $176M

Debt $319M

FY18

Cash $122M

Debt $638M

FY19

Cash $150M

Debt $950M

FY20

Cash $207M

Debt $936M

FY21

Cash $163M

Debt $460M

FY22

Cash $202M

Debt $460M

FY23

Cash $302M

Debt $460M

FY24

Cash $1.1B

Debt $1.3B

FY25

Cash $1.0B

Debt $1.3B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Cash Debt

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	$163M	$202M	$302M	$1.1B	$1.0B
Debt incl. finance leases	$460M	$460M	$460M	$1.3B	$1.3B
Net debt / EBITDA	61.3x	4.3x	0.9x	0.7x	0.7x
Debt / equity	0.4x	0.4x	0.4x	0.9x	0.7x
Interest coverage	−2.8x	−1.1x	15.4x	17.2x	13.9x
Current ratio	1.5x	1.7x	2.0x	3.4x	1.8x
Quick ratio	1.2x	1.2x	1.4x	2.9x	1.6x
Total assets	$2.4B	$2.4B	$2.6B	$3.4B	$3.7B
Total liabilities	$1.3B	$1.2B	$1.3B	$2.0B	$2.0B
Shareholders' equity	$1.1B	$1.2B	$1.3B	$1.4B	$1.7B
Net debt (− = net cash)	$297M	$258M	$158M	$214M	$245M

Returns on capital

KIRA · Its return on capital was 14.1%: every 100 invested in the business earned about 14 in a year.

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

FY16

Return on capital 8.2%

Return on equity 5.0%

Return on assets 2.0%

FY17

Return on capital 10.8%

Return on equity 8.1%

Return on assets 3.1%

FY18

Return on capital −3.2%

Return on equity −13.2%

Return on assets −4.2%

FY19

Return on capital 6.0%

Return on equity 6.6%

Return on assets 1.8%

FY20

Return on capital −0.5%

Return on equity −7.3%

Return on assets −2.2%

FY21

Return on capital −4.4%

Return on equity −8.4%

Return on assets −3.2%

FY22

Return on capital −0.4%

Return on equity −0.9%

Return on assets −0.4%

FY23

Return on capital 6.8%

Return on equity 7.8%

Return on assets 3.9%

FY24

Return on capital 14.0%

Return on equity 17.7%

Return on assets 8.0%

FY25

Return on capital 14.1%

Return on equity 19.4%

Return on assets 8.4%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA · Itron, Inc. passes 6 of 9 financial health tests (Piotroski F-score).

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

Test	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income is positive	✓	✓	✕	✓	✕	✕	✕	✓	✓	✓
Cash from operations is positive	✓	✓	✓	✓	✓	✓	✓	✓	✓	✓
Return on assets rose	—	✓	✕	✓	✕	✕	✓	✓	✓	✓
Cash from operations exceeds net income	✓	✓	✓	✓	✓	✓	✓	✓	✕	✓
Debt fell relative to assets	—	✓	✕	✕	✕	✓	✕	✓	✕	✓
Current ratio rose	—	✕	✕	✓	✓	✕	✓	✓	✓	✕
Share count didn't rise	—	✕	✓	✕	✕	✕	✕	✕	✕	✕
Gross margin rose	—	✓	✕	✕	✕	✓	✓	✓	✓	✓
Revenue rose relative to assets	—	✕	✕	✓	✕	✕	✕	✓	✕	✕
F-score	— / 3	6 / 9	3 / 9	6 / 9	3 / 9	4 / 9	5 / 9	8 / 9	5 / 9	6 / 9
Accruals ratio	−5.3%	−7.3%	−8.9%	−4.7%	−6.3%	−9.4%	−1.4%	−1.1%	0.0%	−2.9%
Altman Z''	1.63	1.67	0.35	1.09	0.87	0.69	1.21	2.17	3.55	3.00

All figures

Every number, year by year.

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

Download CSV

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	$2.0B	$2.0B	$2.4B	$2.5B	$2.2B	$2.0B	$1.8B	$2.2B	$2.4B	$2.4B
Gross profit	$663M	$677M	$730M	$752M	$602M	$573M	$522M	$714M	$839M	$892M
Research and development	$168M	$169M	$208M	$202M	$194M	$197M	$185M	$209M	$215M	$207M
Operating income	$101M	$155M	−$49.7M	$133M	−$10.4M	−$79.3M	−$7.4M	$129M	$264M	$313M
Interest expense	$13.5M	$13.8M	$58.2M	$52.5M	$44.0M	$28.6M	$6.7M	$8.3M	$15.4M	$22.5M
Pretax income	$84.6M	$135M	−$109M	$73.0M	−$56.6M	−$124M	−$15.7M	$127M	$285M	$342M
Income tax	$49.6M	$74.3M	−$12.6M	$20.6M	$0.2M	−$45.5M	−$6.2M	$29.1M	$43.4M	$38.9M
Net income	$31.8M	$57.3M	−$99.3M	$49.0M	−$58.0M	−$81.3M	−$9.7M	$96.9M	$239M	$301M
Diluted EPS	$0.82	$1.45	−$2.53	$1.23	−$1.44	−$1.83	−$0.22	$2.11	$5.18	$6.50
Diluted shares	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.05B	0.05B	0.05B	0.05B
Cash flow
Cash from operations	$116M	$191M	$110M	$173M	$110M	$155M	$24.5M	$125M	$238M	$406M
Capital expenditure	$43.5M	$49.5M	$60.0M	$60.7M	$46.2M	$34.7M	$19.7M	$26.9M	$30.6M	$22.9M
Free cash flow	$72.3M	$142M	$49.8M	$112M	$63.3M	$120M	$4.8M	$98.1M	$208M	$383M
Depreciation and amortization	$68.3M	$63.2M	$122M	$114M	$97.3M	$84.2M	$66.8M	$55.8M	$56.3M	$49.5M
Stock-based compensation	$18.0M	$21.4M	$31.3M	$27.0M	$25.1M	$23.6M	$21.9M	$28.4M	$43.9M	$62.4M
Acquisitions	$1.0M	$99.4M	$803M	$0.0M	$0.0M	$8.7M	−$0.0M	$0.0M	$34.1M	$325M
Share buybacks	$0.0M	$0.0M	$0.0M	$25.0M	$0.0M	$8.0M	$17.0M	$0.0M	$100M	$100M
Dividends and buybacks	$0.0M	$0.0M	$0.0M	$25.0M	$0.0M	$8.0M	$17.0M	$0.0M	$100M	$100M
Balance sheet
Cash and short-term investments	$134M	$176M	$122M	$150M	$207M	$163M	$202M	$302M	$1.1B	$1.0B
Total debt	$305M	$319M	$638M	$950M	$936M	$460M	$460M	$460M	$1.3B	$1.3B
Current assets	$732M	$850M	$896M	$997M	$930M	$750M	$830M	$1.0B	$1.8B	$1.8B
Current liabilities	$413M	$508M	$653M	$671M	$550M	$501M	$499M	$537M	$528M	$1.0B
Inventory	$163M	$194M	$221M	$228M	$182M	$166M	$229M	$284M	$271M	$243M
Property and equipment, net	$176M	$201M	$227M	$233M	$208M	$163M	$140M	$129M	$115M	$112M
Goodwill	$452M	$556M	$1.1B	$1.1B	$1.1B	$1.1B	$1.0B	$1.1B	$1.1B	$1.3B
Intangible assets	$72.2M	$95.2M	$258M	$185M	$133M	$92.5M	$64.9M	$46.3M	$43.1M	$83.3M
Total assets	$1.6B	$2.1B	$2.6B	$2.7B	$2.6B	$2.4B	$2.4B	$2.6B	$3.4B	$3.7B
Total liabilities	$927M	$1.3B	$1.9B	$1.9B	$1.8B	$1.3B	$1.2B	$1.3B	$2.0B	$2.0B
Preferred stock	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Shareholders' equity	$632M	$786M	$713M	$777M	$817M	$1.1B	$1.2B	$1.3B	$1.4B	$1.7B
Margins
Gross margin	32.9%	33.5%	30.7%	30.1%	27.7%	28.9%	29.1%	32.8%	34.4%	37.7%
Operating margin	5.0%	7.7%	−2.1%	5.3%	−0.5%	−4.0%	−0.4%	5.9%	10.8%	13.2%
EBITDA margin	8.4%	10.8%	3.1%	9.9%	4.0%	0.2%	3.3%	8.5%	13.1%	15.3%
Net margin	1.6%	2.8%	−4.2%	2.0%	−2.7%	−4.1%	−0.5%	4.5%	9.8%	12.7%
FCF margin	3.6%	7.0%	2.1%	4.5%	2.9%	6.1%	0.3%	4.5%	8.5%	16.2%
Returns
Return on capital	8.2%	10.8%	−3.2%	6.0%	−0.5%	−4.4%	−0.4%	6.8%	14.0%	14.1%
Return on capital employed	8.7%	9.7%	−2.5%	6.5%	−0.5%	−4.2%	−0.4%	6.2%	9.2%	11.6%
Return on equity	5.0%	8.1%	−13.2%	6.6%	−7.3%	−8.4%	−0.9%	7.8%	17.7%	19.4%
Return on assets	2.0%	3.1%	−4.2%	1.8%	−2.2%	−3.2%	−0.4%	3.9%	8.0%	8.4%
Return on tangible equity	29.7%	42.3%	—	—	—	—	−15.0%	45.7%	81.0%	104.4%
Growth
Revenue growth	—	0.2%	17.7%	5.3%	−13.2%	−8.8%	−9.4%	21.1%	12.3%	−3.0%
Net income growth	—	80.4%	−273.2%	—	−218.3%	—	—	—	146.7%	25.9%
EPS growth	—	76.8%	−274.5%	—	−217.1%	—	—	—	145.5%	25.5%
FCF growth	—	96.2%	−64.9%	125.1%	−43.5%	89.7%	−96.0%	1,963.7%	111.7%	84.5%
Share count change	—	1.9%	−0.4%	1.9%	0.7%	10.1%	1.8%	1.6%	0.8%	0.3%
Financial health
Net debt / EBITDA	1.0x	0.7x	7.1x	3.2x	8.4x	61.3x	4.3x	0.9x	0.7x	0.7x
Debt / equity	0.5x	0.4x	0.9x	1.2x	1.1x	0.4x	0.4x	0.4x	0.9x	0.7x
Interest coverage	7.5x	11.2x	−0.9x	2.5x	−0.2x	−2.8x	−1.1x	15.4x	17.2x	13.9x
Current ratio	1.8x	1.7x	1.4x	1.5x	1.7x	1.5x	1.7x	2.0x	3.4x	1.8x
Quick ratio	1.4x	1.3x	1.0x	1.1x	1.4x	1.2x	1.2x	1.4x	2.9x	1.6x
Capital allocation
Capex / revenue	2.2%	2.5%	2.5%	2.4%	2.1%	1.8%	1.1%	1.2%	1.3%	1.0%
Stock comp / revenue	0.9%	1.1%	1.3%	1.1%	1.2%	1.2%	1.2%	1.3%	1.8%	2.6%
Payouts / FCF	0.0%	0.0%	0.0%	22.3%	0.0%	6.7%	357.1%	0.0%	48.2%	26.1%
Quality scores
Piotroski F-score	—	6.0	3.0	6.0	3.0	4.0	5.0	8.0	5.0	6.0
Altman Z''	1.6	1.7	0.4	1.1	0.9	0.7	1.2	2.2	3.6	3.0
Accruals ratio	−5.3%	−7.3%	−8.9%	−4.7%	−6.3%	−9.4%	−1.4%	−1.1%	0.0%	−2.9%

Source: SEC EDGAR XBRL filings (CIK 0000780571). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

Itron, Inc.

What Itron, Inc. does

Filing details

Earnings calendar · Itron, Inc.

KIRA’s summary AI analyst

1.Sales and profit

2.Cash and shareholders

3.Financial health

Itron, Inc. in 30 seconds

Key numbers, fiscal 2025

Revenue

Operating margin

Net income

Free cash flow

Return on capital

Sales and profit

Revenue and margins

Net income and earnings per share

Cash and shareholders

Cash flow

Dividends, buybacks and share count

Insider trades

Financial health

Balance sheet

Returns on capital

Piotroski F-score

All figures

10 years of figures