Financials

Itron Inc. financials

ITRI Electrical Equipment

Itron Inc., founded in 1977 and headquartered in Liberty Lake, Washington, United States, is a global provider of smart grid and utility management solutions. It generates revenue through the sale of advanced metering systems, communication networks, and cloud-based data analytics services. Under the leadership of CEO Chris Cornwell since 2021, Itron serves over 6,000 utility customers worldwide. Its flagship platforms, including Active Grid and OpenWay Riva, distinguish it from competitors in a rapidly evolving market. The company is strategically investing in IoT and cloud innovations to drive future growth.

Snapshot

Itron Inc. reported $2.37B in revenue in fiscal 2025, up -3.0% year over year, with an operating margin of 13.2%.

Revenue (FY2025)
$2.37B
YoY growth
+-3.0%
Operating margin
13.2%
Direction
Expanding

Financial statements

In thousands, USD · annual
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Total Revenues2,367,1902,440,8402,173,6301,795,560
Cost of Sales1,475,0801,601,5201,459,7301,273,380
Gross Profit892,118839,317713,908522,189
Selling, General & Administrative Expenses352,965339,069312,779290,453
Depreciation & Amortization Expenses18,03417,82818,91825,717
Research & Development Expenses207,041215,034208,688185,098
Other Operating Expenses1,0103,27644,65628,360
Operating Profit313,068264,110128,867(7,439)
Interest and Investment Income48,37634,5779,3142,633
Interest Expense(22,451)(15,379)(8,349)(6,724)
Non-Operating Income3,2741,223(2,446)(4,213)
Total Non-Operating Income29,19920,421(1,481)(8,304)
Income Before Provision for Income Taxes342,267284,531127,386(15,743)
Provision for Income Taxes38,93243,40729,068(6,196)
Consolidated Net Income303,335241,12498,318(9,547)
Net Income Attributable to Minority Interests and Other2,2802,0191,395185
Net Income Attributable to Common Shareholders301,055239,10596,923(9,732)
Basic EPS6.625.272.13-0.22
Diluted EPS6.505.182.11-0.22
Basic Weighted Average Shares Outstanding45,49245,36845,42145,101
Diluted Weighted Average Shares Outstanding46,32346,18745,83645,101
Shares Outstanding44,92945,13145,51245,186
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents1,020,4001,051,240302,049202,007
Total Cash and Cash Equivalents1,020,4001,051,240302,049202,007
Accounts Receivable367,794350,473303,821280,435
Total Trade Receivables367,794350,473303,821280,435
Inventories242,886270,725283,686228,701
Other Current Assets191,241143,457159,882118,441
Total Current Assets1,822,3201,815,8901,049,440829,584
Net Property, Plant & Equipment141,534144,385169,992192,949
Net Intangible Assets83,33743,10946,28264,941
Goodwill1,344,9801,052,1301,052,5001,038,720
Other Long-Term Assets328,535352,107286,047251,883
Total Assets3,720,7103,407,6202,604,2602,378,080
Accounts Payable156,288144,929199,520237,178
Accrued Expenses138,863157,073144,439104,755
Current Portion of Long-Term Debt459,522———
Unearned Revenue187,822150,720124,20795,567
Other Current Liabilities69,73275,54369,07061,072
Total Current Liabilities1,012,230528,265537,236498,572
Long-Term Debt788,8051,242,420454,827452,526
Leases19,62325,35032,65644,370
Other Long-Term Liabilities161,856200,156248,113191,054
Total Long-Term Liabilities970,2841,467,930735,596687,950
Total Liabilities1,982,5101,996,2001,272,8301,186,520
Common Stock1,661,3501,689,8401,820,5101,788,480
Accumulated Other Comprehensive Income(56,505)(109,931)(81,190)(94,674)
Retained Earnings111,751(189,304)(428,409)(525,332)
Total Common Shareholders' Equity1,716,6001,390,6001,310,9101,168,470
Minority Interests and Other21,60020,82820,52023,083
Total Shareholders' Equity1,738,2001,411,4301,331,4301,191,560
Total Liabilities and Shareholders' Equity3,720,7103,407,6202,604,2602,378,080
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Income303,335241,12498,318(9,547)
Depreciation & Amortization49,51756,27755,76366,763
Share-Based Compensation Expense62,44943,87428,35721,881
Other Adjustments81,754(13,194)(13,645)40,160
Changes in Trade Receivables(4,215)(49,138)(19,494)5,064
Changes in Inventories32,6825,969(52,118)(68,124)
Changes in Accounts Payable6,276(35,388)(43,657)45,085
Changes in Accrued Expenses(18,623)3,78444,700(21,749)
Changes in Unearned Revenue28,62429,31928,32918,466
Changes in Other Operating Activities(135,847)(44,452)(1,582)(73,499)
Cash from Operating Activities405,952238,175124,97124,500
Capital Expenditure(22,891)(30,562)(26,884)(19,747)
Payments for Business Acquisitions(325,044)(34,105)—23
Proceeds from Business Divestments278405(772)55,933
Other Investing Activities(1,995)8504,3484,307
Cash from Investing Activities(349,652)(63,412)(23,308)40,516
Issuance of Long-Term Debt—805,000——
Net Issuance / (Repayments) of Long-Term Debt—805,000——
Issuance of Common Shares7,3208,3213,6743,452
Repurchases of Common Shares(100,000)(100,000)—(16,972)
Net Issuance / (Repurchases) of Common Shares(92,680)(91,679)3,674(13,520)
Other Financing Activities(4,782)(133,748)(7,182)(5,217)
Cash from Financing Activities(97,462)579,573(3,508)(18,737)
Effect of Exchange Rate Changes on Cash and Cash Equivalents10,322(5,148)1,887(6,851)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash(30,840)749,188100,04239,428

Quarterly trend

last 8 quarters
QuarterRevenueYoY growthOperating marginOperating income
Q1 2026$587M+-3.3%11.5%$68M
Q4 2025$572M+-6.7%13.8%$79M
Q3 2025$582M+-5.5%14.1%$82M
Q2 2025$607M+-0.4%12.6%$76M
Q1 2025$607M—12.6%$76M
Q4 2024$613M—10.2%$63M
Q3 2024$615M—12.0%$74M
Q2 2024$609M—10.6%$65M
Revenue by quarter$M
$609M
Q2 '24
$615M
Q3 '24
$613M
Q4 '24
$607M
Q1 '25
$607M
Q2 '25
$582M
Q3 '25
$572M
Q4 '25
$587M
Q1 '26
37.7%
Gross margin
13.2%
Operating margin
12.8%
Net margin
SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated

More on Itron Inc.

CompanyItron Inc. overview FacetLeadership & people FacetLeadership

See how VectorShift works for your firm

Request Demo