Equity Brief · Utilities2026-10-27
IRE.MI·Utilities

Next reporting 11 Nov 2026In 14 days

Iren SpA

I · AI Analysis

The brief

Iren generates and distributes electricity from hydroelectric, thermoelectric, and renewable sources, and distributes natural gas through approximately 9,578 kilometers of pipeline to around 934,000 customers [Yahoo Finance]. The company operates the integrated water cycle including treatment plants, 24,000 kilometers of water pipelines, and 13,000 kilometers of sewerage networks serving 3 million residents [Yahoo Finance]. It also provides waste collection and disposal, street and traffic lighting systems, heating systems, and telecommunications services [Yahoo Finance].

Iren SpA is an Italian multi-utility company operating electricity generation, natural gas distribution, integrated water services, and waste management across Italy [Yahoo Finance]. The company serves approximately 3 million residents through 24,000 kilometers of water pipeline networks and distributes gas to roughly 934,000 customers [Yahoo Finance]. With trailing-twelve-month revenue of EUR 6.3B through 30 June 2026, the company operates 27 hydroelectric plants, 24 cogeneration systems, and 113 photovoltaic plants [Yahoo Finance].

Iren shows moderate profitability with a manageable debt load, though leverage sits at the higher end of comfort for a utility.

The brief AI analysisConfidence 6/10

Sentinellis health

Moderate concerns

7.4/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score3.3/10
Net margin+4.8%· need ≥ 11.4%, the lower third of utilities in our libraryGross margin+33.0%

Returns on capital

16% of score0.0/10
ROIC+4.8%· need > 10%Return on equity+8.7%· need > 12%

Growth & momentum

21% of score10.0/10
Revenue growth+2.8%Operating margin trend-0.6pp YoY

Balance sheet

21% of score10.0/10
Current ratio0.9x· not applicable to this kind of companyNet debt / EBITDA3.5xInterest coverage3.8xDebt / equity1.30

Cash generation

16% of score10.0/10
Free cash flowEUR 156.1MCash vs reported profitEUR 1.1B vs EUR 298.7M

Value creation

11% of score10.0/10
ROIC vs cost of capital+0.6pp

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 3.1B

Revenue (TTM)

EUR 6.3B

Explainers

How we read these numbers

Plain-English guides · no account needed

II · Recent news

What moved

2 stories · ranked by relevance

  • Company2026-10-27

    A Genova la riunione internazionale ISO TC138 - Gruppo Iren

    Gruppo Iren

  • Company2026-10-23

    Gruppo Iren, un dipendente su 5 in pensione nei prossimi anni: l’AI agevola il ricambio generazionale - ANSA

    ANSA

Premium · Free with any account

Net debt stands at 3.5 times EBITDA [Sentinellis calculation], leaving limited buffer if cash flow deteriorates or capital needs rise unexpectedly.

1 of 5 risks in this report

Risks

5

Opportunities

5

Red flags

1

Leadership

9

10 more findings in the full report — free with any account.

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III · Related

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Produced 27 Oct 2026, 10:48 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated