Financials · ITRI

Itron Inc. (ITRI) financials

For the twelve months ended Sep 30, 2026, Itron Inc. reported $2.32B of revenue and $280.06M of net income.

Revenue, TTM
$2.32B
Revenue growth, YoY
-3.6%
Net income, TTM
$280.06M
Net income growth, YoY
+8.6%
Net margin
12.1%
Free cash flow, TTM
$367.51M
EPS, diluted, TTM
$6.18
EPS growth, YoY
+11.2%
Cash
$840.32M
Total debt
$1.58B
P/E
15.66
P/S
1.89
Market cap
$4.38B
Annual revenue$2.37B
FY2016FY2025
Annual net income$301.06M
FY2016FY2025
Annual free cash flow$383.06M
FY2016FY2025

ITRI revenue and earnings growth

ITRI revenueQ3 2026$599.33M

Quarter YoY
+3.0%
QoQ
+6.5%
FY YoY
-3.0%
5Y CAGR
+1.7%
10Y CAGR
+2.3%

ITRI revenue was $599.33M in fiscal Q3 2026 (ended Sep 30, 2026), up 3.0% from a year earlier and up 6.5% from the prior quarter. For the full fiscal 2025 it was $2.37B, down 3.0% from fiscal 2024. Compound annual growth was +1.7% over 5 years and +2.3% over 10 years. It rose in 6 of the last 10 fiscal years.

ITRI net incomeQ3 2026$71.37M

Quarter YoY
+8.8%
QoQ
+33.5%
FY YoY
+25.9%
10Y CAGR
+37.3%

ITRI net income was $71.37M in fiscal Q3 2026 (ended Sep 30, 2026), up 8.8% from a year earlier and up 33.5% from the prior quarter. For the full fiscal 2025 it was $301.06M, up 25.9% from fiscal 2024. Compound annual growth was +37.3% over 10 years. Fiscal 2025 is the highest of the 15 fiscal years on file.

ITRI EPSQ3 2026$1.61

Quarter YoY
+14.2%
QoQ
+35.3%
FY YoY
+25.5%
10Y CAGR
+34.7%

ITRI diluted EPS was $1.61 in fiscal Q3 2026 (ended Sep 30, 2026), up 14.2% from a year earlier and up 35.3% from the prior quarter. For the full fiscal 2025 it was $6.50, up 25.5% from fiscal 2024. Compound annual growth was +34.7% over 10 years.

ITRI free cash flowQ3 2026$95.55M

Quarter YoY
-15.8%
QoQ
+17.3%
FY YoY
+84.5%
5Y CAGR
+43.3%
10Y CAGR
+29.3%

ITRI free cash flow was $95.55M in fiscal Q3 2026 (ended Sep 30, 2026), down 15.8% from a year earlier and up 17.3% from the prior quarter. For the full fiscal 2025 it was $383.06M, up 84.5% from fiscal 2024. Compound annual growth was +43.3% over 5 years and +29.3% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 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$892.12M$839.32M$713.91M$522.19M$573.17M$602.17M$752.32M$730.32M$676.75M$662.53M
Research and development$207.04M$215.03M$208.69M$185.10M$197.24M$194.10M$202.20M$207.91M$169.41M$167.77M
Selling, general and admin$352.96M$339.07M$312.78M$290.45M$300.52M$276.92M$346.87M$423.21M$325.26M$319.57M
Operating income$313.07M$264.11M$128.87M-$7.44M-$79.30M-$10.39M$132.68M-$49.69M$154.88M$100.99M
Interest expense$22.45M$15.38M$8.35M$6.72M$28.64M$44.00M$52.45M$58.20M$13.85M$13.52M
Pre-tax income$342.27M$284.53M$127.39M-$15.74M-$123.81M-$56.64M$73.03M-$109.15M$134.57M$84.63M
Income tax$38.93M$43.41M$29.07M-$6.20M-$45.51M$238.0K$20.62M-$12.57M$74.33M$49.57M
Net income$301.06M$239.10M$96.92M-$9.73M-$81.25M-$57.95M$49.01M-$99.25M$57.30M$31.77M
EPS, basic$6.62$5.27$2.13-$0.22-$1.83-$1.44$1.24-$2.53$1.48$0.83
EPS, diluted$6.50$5.18$2.11-$0.22-$1.83-$1.44$1.23-$2.53$1.45$0.82
Diluted shares46.3M46.2M45.8M45.1M44.3M40.3M40.0M39.2M39.4M38.6M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$1.02B$1.05B$302.05M$202.01M$162.58M$206.93M$149.90M$122.33M$487.33M$133.56M
Receivables$342.49M$295.34M$272.89M$249.77M$261.12M$318.27M$415.89M$416.50M$369.05M$299.87M
Inventory$242.89M$270.73M$283.69M$228.70M$165.80M$182.38M$227.90M$220.67M$193.84M$163.05M
Current assets$1.82B$1.82B$1.05B$829.58M$749.93M$930.26M$997.25M$896.14M$849.74M$732.47M
Goodwill$1.34B$1.05B$1.05B$1.04B$1.10B$1.13B$1.10B$1.12B$555.76M$452.49M
Total assets$3.72B$3.41B$2.60B$2.38B$2.39B$2.61B$2.71B$2.61B$2.11B$1.58B
Current liabilities$1.01B$528.26M$537.24M$498.57M$501.34M$549.90M$671.39M$652.71M$507.78M$413.05M
Short-term debt$459.52M$0--$0$18.36M$0$28.44M$19.69M$14.06M
Long-term debt$788.80M$1.24B$454.83M$452.53M$450.23M$902.58M$932.48M$988.18M$593.57M$290.46M
Total debt$1.25B$1.24B$454.83M$452.53M$450.23M$920.94M$932.48M$1.02B$613.26M$304.52M
Total liabilities$1.98B$2.00B$1.27B$1.19B$1.25B$1.77B$1.91B$1.87B$1.30B$927.46M
Shareholders' equity$1.72B$1.41B$1.33B$1.19B$1.14B$840.27M$800.82M$734.05M$805.63M$650.35M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$405.95M$238.18M$124.97M$24.50M$154.79M$109.51M$172.84M$109.75M$191.35M$115.84M
Capital expenditures$22.89M$30.56M$26.88M$19.75M$34.68M$46.21M$60.75M$59.95M$49.49M$43.54M
Free cash flow$383.06M$207.61M$98.09M$4.75M$120.11M$63.31M$112.09M$49.80M$141.86M$72.30M
Investing cash flow-$349.65M-$63.41M-$23.31M$40.52M-$34.88M-$41.04M-$48.18M-$862.66M-$148.18M-$47.53M
Financing cash flow-$97.46M$579.57M-$3.51M-$18.74M-$152.89M-$11.58M-$97.52M$395.82M$301.96M-$63.02M
Share repurchases$100.00M$100.00M$0$16.97M$8.03M$0$25.00M$0$0$0
Stock-based compensation$62.45M$43.87M$28.36M$21.88M$23.62M$25.05M$26.96M$31.26M$21.41M$18.04M
Depreciation and amortization$49.52M$56.28M$55.76M$66.76M$84.15M$97.29M$114.40M$122.50M$63.22M$68.32M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY-3.0%12.3%21.1%-9.4%-8.8%-13.2%5.3%17.7%0.2%6.9%
Net income growth, YoY25.9%146.7%------80.4%150.6%
EPS growth, YoY25.5%145.5%------76.8%148.5%
Gross margin37.7%34.4%32.8%29.1%28.9%27.7%30.1%30.7%33.5%32.9%
Operating margin13.2%10.8%5.9%-0.4%-4.0%-0.5%5.3%-2.1%7.7%5.0%
Net margin12.7%9.8%4.5%-0.5%-4.1%-2.7%2.0%-4.2%2.8%1.6%
Free cash flow margin16.2%8.5%4.5%0.3%6.1%2.9%4.5%2.1%7.0%3.6%
Return on equity17.5%16.9%7.3%-0.8%-7.1%-6.9%6.1%-13.5%7.1%4.9%
Return on assets8.1%7.0%3.7%-0.4%-3.4%-2.2%1.8%-3.8%2.7%2.0%
Current ratio1.803.441.951.661.501.691.491.371.671.77
Debt to equity0.730.880.340.380.391.101.161.380.760.47

Source: XBRL data Itron Inc. files with the SEC, latest filing dated Oct 27, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ITRI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ITRI$2.32B-3.6%$280.06M12.1%$4.38B
APH$33.05B+57.6%$5.93B18.0%$199.29B
TER$5.00B+74.9%$1.37B27.5%$38.41B
FLEX$30.95B+17.5%$1.04B3.4%$28.88B
VLTO$5.80B+6.4%$1.00B17.3%$28.70B
CLS$18.23B+61.6%$1.25B6.8%$28.11B
JBL$35.95B+20.6%$1.04B2.9%$26.01B
HUBB$6.59B+16.0%$908.90M13.8%$23.33B
LFUS$2.76B+18.7%$37.79M1.4%$9.80B

ITRI FAQ

9 questions
  • What is ITRI revenue?
    Itron Inc. (ITRI) reported $2.32B of revenue for the twelve months ended Sep 30, 2026. That is down 3.6% from the year before. Revenue for fiscal 2025 was $2.37B.
  • Is ITRI profitable?
    Yes. Itron Inc. earned $280.06M in net income for the twelve months ended Sep 30, 2026, a net margin of 12.1%.
  • How much cash and debt does ITRI have?
    Itron Inc. reported $840.32M in cash and cash equivalents and $1.58B of debt on its most recent balance sheet in SEC filings.
  • How fast is ITRI revenue growing?
    Itron Inc.'s revenue changed -3.0% in fiscal 2025, to $2.37B. Its compound annual growth rate was +1.7% over 5 years and +2.3% over 10 years.
  • What is ITRI gross margin?
    Itron Inc.'s gross profit was $943.57M on $2.32B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 40.7%.
  • What is ITRI free cash flow?
    Itron Inc. generated $367.51M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $394.87M less capital expenditures.
  • What is ITRI earnings per share?
    Diluted earnings per share were $6.18 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ITRI last report financial results?
    The latest statements here come from Itron Inc.'s 10-Q filed on Oct 27, 2026, covering the period ended Sep 30, 2026.
  • Where does this ITRI financial data come from?
    Quantisnow builds these statements from the structured XBRL data Itron Inc. files with the SEC. It is provided for information only and is not investment advice.