View ValuationIRCE 향후 성장Future 기준 점검 4/6IRCE은 연간 수입과 매출이 각각 22.6%와 9.5% 증가할 것으로 예상되고 EPS는 연간 19.3%만큼 증가할 것으로 예상됩니다.핵심 정보22.6%이익 성장률19.25%EPS 성장률Electrical 이익 성장27.1%매출 성장률9.5%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트19 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesUpcoming Dividend • May 11Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (0.5%).공시 • Mar 23IRCE S.p.A., Annual General Meeting, Apr 30, 2026IRCE S.p.A., Annual General Meeting, Apr 30, 2026, at 11:00 W. Europe Standard Time.Declared Dividend • Mar 19Dividend of €0.06 announcedDividend of €0.06 is the same as last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 3.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.Reported Earnings • Mar 18Full year 2025 earnings released: EPS: €0.23 (vs €0.26 in FY 2024)Full year 2025 results: EPS: €0.23 (down from €0.26 in FY 2024). Revenue: €381.1m (down 4.5% from FY 2024). Net income: €6.18m (down 11% from FY 2024). Profit margin: 1.6% (down from 1.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.공시 • Mar 18IRCE S.p.A. announces Annual dividend, payable on May 20, 2026IRCE S.p.A. announced Annual dividend of EUR 0.0600 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.New Risk • Mar 17New major risk - Revenue and earnings growthEarnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€50.3m market cap, or US$58.1m).공시 • Jan 06+ 3 more updatesIRCE S.p.A. to Report Nine Months, 2026 Results on Nov 13, 2026IRCE S.p.A. announced that they will report nine months, 2026 results on Nov 13, 2026New Risk • Nov 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€54.7m market cap, or US$63.0m).Reported Earnings • Nov 20Third quarter 2025 earnings released: EPS: €0.053 (vs €0.086 in 3Q 2024)Third quarter 2025 results: EPS: €0.053 (down from €0.086 in 3Q 2024). Revenue: €83.2m (down 15% from 3Q 2024). Net income: €1.40m (down 38% from 3Q 2024). Profit margin: 1.7% (down from 2.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Reported Earnings • Sep 15Second quarter 2025 earnings released: EPS: €0.07 (vs €0.098 in 2Q 2024)Second quarter 2025 results: EPS: €0.07 (down from €0.098 in 2Q 2024). Revenue: €102.1m (down 5.9% from 2Q 2024). Net income: €1.86m (down 28% from 2Q 2024). Profit margin: 1.8% (down from 2.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings.New Risk • May 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€54.0m market cap, or US$60.2m).Reported Earnings • May 17First quarter 2025 earnings released: EPS: €0.074 (vs €0.085 in 1Q 2024)First quarter 2025 results: EPS: €0.074 (down from €0.085 in 1Q 2024). Revenue: €103.4m (up 2.9% from 1Q 2024). Net income: €1.95m (down 13% from 1Q 2024). Profit margin: 1.9% (down from 2.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year.Upcoming Dividend • May 12Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (1.9%).Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.92, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 22x in the Electrical industry in Germany. Total loss to shareholders of 13% over the past three years.Reported Earnings • Apr 06Full year 2024 earnings released: EPS: €0.26 (vs €0.31 in FY 2023)Full year 2024 results: EPS: €0.26 (down from €0.31 in FY 2023). Revenue: €398.9m (down 1.2% from FY 2023). Net income: €6.90m (down 16% from FY 2023). Profit margin: 1.7% (down from 2.0% in FY 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 24Dividend of €0.06 announcedDividend of €0.06 is the same as last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 80% over the next 2 years, which should provide support to the dividend and adequate earnings cover.New Risk • Mar 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€52.8m market cap, or US$57.1m).Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.18, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 32x in the Electrical industry in Germany. Total loss to shareholders of 10% over the past three years.공시 • Mar 20IRCE S.p.A., Annual General Meeting, Apr 28, 2025IRCE S.p.A., Annual General Meeting, Apr 28, 2025, at 11:00 W. Europe Standard Time.공시 • Mar 18IRCE S.p.A. announces Annual dividend, payable on May 21, 2025IRCE S.p.A. announced Annual dividend of EUR 0.0600 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025.Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: €0.086 (vs €0.061 in 3Q 2023)Third quarter 2024 results: EPS: €0.086 (up from €0.061 in 3Q 2023). Revenue: €98.2m (up 6.0% from 3Q 2023). Net income: €2.27m (up 41% from 3Q 2023). Profit margin: 2.3% (up from 1.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings.Reported Earnings • Sep 15Second quarter 2024 earnings released: EPS: €0.098 (vs €0.09 in 2Q 2023)Second quarter 2024 results: EPS: €0.098 (up from €0.09 in 2Q 2023). Revenue: €108.6m (up 2.5% from 2Q 2023). Net income: €2.60m (up 9.4% from 2Q 2023). Profit margin: 2.4% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings.Reported Earnings • May 16First quarter 2024 earnings released: EPS: €0.085 (vs €0.097 in 1Q 2023)First quarter 2024 results: EPS: €0.085 (down from €0.097 in 1Q 2023). Revenue: €100.5m (down 11% from 1Q 2023). Net income: €2.25m (down 13% from 1Q 2023). Profit margin: 2.2% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 13Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.7%).New Risk • Apr 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€55.7m market cap, or US$60.3m).Declared Dividend • Mar 21Dividend of €0.06 announcedShareholders will receive a dividend of €0.06. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 3.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 19Full year 2023 earnings released: EPS: €0.31 (vs €0.35 in FY 2022)Full year 2023 results: EPS: €0.31 (down from €0.35 in FY 2022). Revenue: €404.5m (down 12% from FY 2022). Net income: €8.23m (down 11% from FY 2022). Profit margin: 2.0% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.공시 • Mar 09+ 4 more updatesIRCE S.p.A. to Report Nine Months, 2024 Results on Nov 14, 2024IRCE S.p.A. announced that they will report nine months, 2024 results on Nov 14, 2024Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.061 (vs €0.03 in 3Q 2022)Third quarter 2023 results: EPS: €0.061 (up from €0.03 in 3Q 2022). Revenue: €93.0m (down 12% from 3Q 2022). Net income: €1.61m (up 101% from 3Q 2022). Profit margin: 1.7% (up from 0.8% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Reported Earnings • Sep 14Second quarter 2023 earnings released: EPS: €0.09 (vs €0.096 in 2Q 2022)Second quarter 2023 results: EPS: €0.09 (down from €0.096 in 2Q 2022). Revenue: €106.2m (down 22% from 2Q 2022). Net income: €2.38m (down 6.7% from 2Q 2022). Profit margin: 2.2% (up from 1.9% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.097 (vs €0.062 in 1Q 2022)First quarter 2023 results: EPS: €0.097 (up from €0.062 in 1Q 2022). Revenue: €113.4m (down 10% from 1Q 2022). Net income: €2.57m (up 56% from 1Q 2022). Profit margin: 2.3% (up from 1.3% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 7.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 15Upcoming dividend of €0.06 per share at 2.4% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.1%).Reported Earnings • Mar 19Full year 2022 earnings released: EPS: €0.35 (vs €0.35 in FY 2021)Full year 2022 results: EPS: €0.35 (down from €0.35 in FY 2021). Revenue: €459.6m (flat on FY 2021). Net income: €9.22m (down 1.6% from FY 2021). Profit margin: 2.0% (in line with FY 2021). Revenue is expected to decline by 2.6% p.a. on average during the next 2 years, while revenues in the Electrical industry in Germany are expected to grow by 8.5%. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.공시 • Jan 06+ 4 more updatesIRCE S.p.A., Annual General Meeting, Apr 28, 2023IRCE S.p.A., Annual General Meeting, Apr 28, 2023.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.03 (vs €0.084 in 3Q 2021)Third quarter 2022 results: EPS: €0.03 (down from €0.084 in 3Q 2021). Revenue: €106.4m (down 6.0% from 3Q 2021). Net income: €800.0k (down 64% from 3Q 2021). Profit margin: 0.8% (down from 2.0% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Electrical industry in Germany are expected to grow by 9.8%. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Sep 18Second quarter 2022 earnings released: EPS: €0.096 (vs €0.13 in 2Q 2021)Second quarter 2022 results: EPS: €0.096 (down from €0.13 in 2Q 2021). Revenue: €136.2m (up 9.3% from 2Q 2021). Net income: €2.55m (down 23% from 2Q 2021). Profit margin: 1.9% (down from 2.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 16Upcoming dividend of €0.05 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (1.1%).Reported Earnings • May 13First quarter 2022 earnings released: EPS: €0.063 (vs €0.13 in 1Q 2021)First quarter 2022 results: EPS: €0.063 (down from €0.13 in 1Q 2021). Revenue: €126.4m (up 22% from 1Q 2021). Net income: €1.65m (down 51% from 1Q 2021). Profit margin: 1.3% (down from 3.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.2%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 19Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.35 (up from €0.10 in FY 2020). Revenue: €457.7m (up 55% from FY 2020). Net income: €9.38m (up 244% from FY 2020). Profit margin: 2.0% (up from 0.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Over the next year, revenue is expected to shrink by 8.0% compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €2.28, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 26x in the Electrical industry in Germany. Total returns to shareholders of 11% over the past three years.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS €0.084 (vs €0.041 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €113.2m (up 63% from 3Q 2020). Net income: €2.23m (up 107% from 3Q 2020). Profit margin: 2.0% (up from 1.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.Reported Earnings • Sep 18Second quarter 2021 earnings released: EPS €0.13 (vs €0.016 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €124.6m (up 109% from 2Q 2020). Net income: €3.31m (up €2.88m from 2Q 2020). Profit margin: 2.7% (up from 0.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improved over the past weekAfter last week's 16% share price gain to €3.04, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 39% over the past three years.Valuation Update With 7 Day Price Move • Jun 21Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €2.70, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 12% over the past three years.Valuation Update With 7 Day Price Move • May 22Investor sentiment improved over the past weekAfter last week's 24% share price gain to €2.75, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 17% over the past three years.Reported Earnings • May 19First quarter 2021 earnings released: EPS €0.13 (vs €0.033 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €103.8m (up 34% from 1Q 2020). Net income: €3.34m (up €4.20m from 1Q 2020). Profit margin: 3.2% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • May 17Upcoming dividend of €0.03 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.8%).Reported Earnings • Mar 19Full year 2020 earnings released: EPS €0.10 (vs €0.073 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €296.1m (down 5.3% from FY 2019). Net income: €2.73m (up 40% from FY 2019). Profit margin: 0.9% (up from 0.6% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Feb 11New 90-day high: €1.71The company is up 20% from its price of €1.43 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 35% over the same period.Is New 90 Day High Low • Dec 08New 90-day high: €1.57The company is up 10.0% from its price of €1.42 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 13% over the same period.Reported Earnings • Nov 18Third quarter 2020 earnings released: EPS €0.041The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €69.3m (down 2.1% from 3Q 2019). Net income: €1.08m (up €1.55m from 3Q 2019). Profit margin: 1.6% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Sep 22New 90-day low: €1.35The company is down 3.0% from its price of €1.39 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 16% over the same period.Reported Earnings • Sep 21First half earnings releasedOver the last 12 months the company has reported total losses of €1.08m, with earnings decreasing by €4.56m from the prior year. Total revenue was €279.0m over the last 12 months, down 17% from the prior year.이익 및 매출 성장 예측BST:IRQ - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202745112-15112/31/202640910-22-213/31/20263828-22-7N/A12/31/20253796-200N/A9/30/20253795-1112N/A6/30/20253956-820N/A3/31/20254027-2312N/A12/31/20243997-1716N/A9/30/20243999-130N/A6/30/202439381539N/A3/31/202439182138N/A12/31/202340483751N/A9/30/2023403111832N/A6/30/2023416102134N/A3/31/2023445101832N/A12/31/20224589418N/A9/30/20224845317N/A6/30/20224917-12-1N/A3/31/20224808-16-6N/A12/31/20214589-23-16N/A9/30/202143111-26-22N/A6/30/202138710-35-31N/A3/31/20213227-12-10N/A12/31/2020296335N/A9/30/202027701216N/A6/30/2020279-12631N/A3/31/20203050512N/A12/31/20193132N/A26N/A9/30/20193221N/A11N/A6/30/20193343N/A16N/A3/31/20193474N/A12N/A12/31/20183566N/A3N/A9/30/20183645N/A8N/A6/30/20183654N/A-9N/A3/31/20183595N/A0N/A12/31/20173585N/A-13N/A9/30/20173444N/A-13N/A6/30/20173284N/A-7N/A3/31/20173112N/A-2N/A12/31/20162960N/A14N/A9/30/2016300-1N/A15N/A6/30/20163150N/A7N/A3/31/20163351N/A10N/A12/31/20153503N/A4N/A9/30/20153627N/A2N/A6/30/20153566N/A12N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: IRQ 의 연간 예상 수익 증가율(22.6%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: IRQ 의 연간 수익(22.6%)이 German 시장(17.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: IRQ 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: IRQ 의 수익(연간 9.5%)이 German 시장(연간 6.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: IRQ 의 수익(연간 9.5%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: IRQ의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YCapital-goods 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/25 03:16종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스IRCE S.p.A.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Arianna TerazziIntesa Sanpaolo Equity Research
Upcoming Dividend • May 11Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (0.5%).
공시 • Mar 23IRCE S.p.A., Annual General Meeting, Apr 30, 2026IRCE S.p.A., Annual General Meeting, Apr 30, 2026, at 11:00 W. Europe Standard Time.
Declared Dividend • Mar 19Dividend of €0.06 announcedDividend of €0.06 is the same as last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 3.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
Reported Earnings • Mar 18Full year 2025 earnings released: EPS: €0.23 (vs €0.26 in FY 2024)Full year 2025 results: EPS: €0.23 (down from €0.26 in FY 2024). Revenue: €381.1m (down 4.5% from FY 2024). Net income: €6.18m (down 11% from FY 2024). Profit margin: 1.6% (down from 1.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
공시 • Mar 18IRCE S.p.A. announces Annual dividend, payable on May 20, 2026IRCE S.p.A. announced Annual dividend of EUR 0.0600 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.
New Risk • Mar 17New major risk - Revenue and earnings growthEarnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€50.3m market cap, or US$58.1m).
공시 • Jan 06+ 3 more updatesIRCE S.p.A. to Report Nine Months, 2026 Results on Nov 13, 2026IRCE S.p.A. announced that they will report nine months, 2026 results on Nov 13, 2026
New Risk • Nov 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€54.7m market cap, or US$63.0m).
Reported Earnings • Nov 20Third quarter 2025 earnings released: EPS: €0.053 (vs €0.086 in 3Q 2024)Third quarter 2025 results: EPS: €0.053 (down from €0.086 in 3Q 2024). Revenue: €83.2m (down 15% from 3Q 2024). Net income: €1.40m (down 38% from 3Q 2024). Profit margin: 1.7% (down from 2.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Reported Earnings • Sep 15Second quarter 2025 earnings released: EPS: €0.07 (vs €0.098 in 2Q 2024)Second quarter 2025 results: EPS: €0.07 (down from €0.098 in 2Q 2024). Revenue: €102.1m (down 5.9% from 2Q 2024). Net income: €1.86m (down 28% from 2Q 2024). Profit margin: 1.8% (down from 2.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
New Risk • May 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€54.0m market cap, or US$60.2m).
Reported Earnings • May 17First quarter 2025 earnings released: EPS: €0.074 (vs €0.085 in 1Q 2024)First quarter 2025 results: EPS: €0.074 (down from €0.085 in 1Q 2024). Revenue: €103.4m (up 2.9% from 1Q 2024). Net income: €1.95m (down 13% from 1Q 2024). Profit margin: 1.9% (down from 2.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year.
Upcoming Dividend • May 12Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (1.9%).
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.92, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 22x in the Electrical industry in Germany. Total loss to shareholders of 13% over the past three years.
Reported Earnings • Apr 06Full year 2024 earnings released: EPS: €0.26 (vs €0.31 in FY 2023)Full year 2024 results: EPS: €0.26 (down from €0.31 in FY 2023). Revenue: €398.9m (down 1.2% from FY 2023). Net income: €6.90m (down 16% from FY 2023). Profit margin: 1.7% (down from 2.0% in FY 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 24Dividend of €0.06 announcedDividend of €0.06 is the same as last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 80% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Mar 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€52.8m market cap, or US$57.1m).
Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.18, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 32x in the Electrical industry in Germany. Total loss to shareholders of 10% over the past three years.
공시 • Mar 20IRCE S.p.A., Annual General Meeting, Apr 28, 2025IRCE S.p.A., Annual General Meeting, Apr 28, 2025, at 11:00 W. Europe Standard Time.
공시 • Mar 18IRCE S.p.A. announces Annual dividend, payable on May 21, 2025IRCE S.p.A. announced Annual dividend of EUR 0.0600 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025.
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: €0.086 (vs €0.061 in 3Q 2023)Third quarter 2024 results: EPS: €0.086 (up from €0.061 in 3Q 2023). Revenue: €98.2m (up 6.0% from 3Q 2023). Net income: €2.27m (up 41% from 3Q 2023). Profit margin: 2.3% (up from 1.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Sep 15Second quarter 2024 earnings released: EPS: €0.098 (vs €0.09 in 2Q 2023)Second quarter 2024 results: EPS: €0.098 (up from €0.09 in 2Q 2023). Revenue: €108.6m (up 2.5% from 2Q 2023). Net income: €2.60m (up 9.4% from 2Q 2023). Profit margin: 2.4% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: €0.085 (vs €0.097 in 1Q 2023)First quarter 2024 results: EPS: €0.085 (down from €0.097 in 1Q 2023). Revenue: €100.5m (down 11% from 1Q 2023). Net income: €2.25m (down 13% from 1Q 2023). Profit margin: 2.2% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 13Upcoming dividend of €0.06 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.7%).
New Risk • Apr 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€55.7m market cap, or US$60.3m).
Declared Dividend • Mar 21Dividend of €0.06 announcedShareholders will receive a dividend of €0.06. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 3.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 19Full year 2023 earnings released: EPS: €0.31 (vs €0.35 in FY 2022)Full year 2023 results: EPS: €0.31 (down from €0.35 in FY 2022). Revenue: €404.5m (down 12% from FY 2022). Net income: €8.23m (down 11% from FY 2022). Profit margin: 2.0% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
공시 • Mar 09+ 4 more updatesIRCE S.p.A. to Report Nine Months, 2024 Results on Nov 14, 2024IRCE S.p.A. announced that they will report nine months, 2024 results on Nov 14, 2024
Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.061 (vs €0.03 in 3Q 2022)Third quarter 2023 results: EPS: €0.061 (up from €0.03 in 3Q 2022). Revenue: €93.0m (down 12% from 3Q 2022). Net income: €1.61m (up 101% from 3Q 2022). Profit margin: 1.7% (up from 0.8% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Sep 14Second quarter 2023 earnings released: EPS: €0.09 (vs €0.096 in 2Q 2022)Second quarter 2023 results: EPS: €0.09 (down from €0.096 in 2Q 2022). Revenue: €106.2m (down 22% from 2Q 2022). Net income: €2.38m (down 6.7% from 2Q 2022). Profit margin: 2.2% (up from 1.9% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.097 (vs €0.062 in 1Q 2022)First quarter 2023 results: EPS: €0.097 (up from €0.062 in 1Q 2022). Revenue: €113.4m (down 10% from 1Q 2022). Net income: €2.57m (up 56% from 1Q 2022). Profit margin: 2.3% (up from 1.3% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 7.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 15Upcoming dividend of €0.06 per share at 2.4% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.1%).
Reported Earnings • Mar 19Full year 2022 earnings released: EPS: €0.35 (vs €0.35 in FY 2021)Full year 2022 results: EPS: €0.35 (down from €0.35 in FY 2021). Revenue: €459.6m (flat on FY 2021). Net income: €9.22m (down 1.6% from FY 2021). Profit margin: 2.0% (in line with FY 2021). Revenue is expected to decline by 2.6% p.a. on average during the next 2 years, while revenues in the Electrical industry in Germany are expected to grow by 8.5%. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
공시 • Jan 06+ 4 more updatesIRCE S.p.A., Annual General Meeting, Apr 28, 2023IRCE S.p.A., Annual General Meeting, Apr 28, 2023.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.03 (vs €0.084 in 3Q 2021)Third quarter 2022 results: EPS: €0.03 (down from €0.084 in 3Q 2021). Revenue: €106.4m (down 6.0% from 3Q 2021). Net income: €800.0k (down 64% from 3Q 2021). Profit margin: 0.8% (down from 2.0% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Electrical industry in Germany are expected to grow by 9.8%. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Sep 18Second quarter 2022 earnings released: EPS: €0.096 (vs €0.13 in 2Q 2021)Second quarter 2022 results: EPS: €0.096 (down from €0.13 in 2Q 2021). Revenue: €136.2m (up 9.3% from 2Q 2021). Net income: €2.55m (down 23% from 2Q 2021). Profit margin: 1.9% (down from 2.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 16Upcoming dividend of €0.05 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (1.1%).
Reported Earnings • May 13First quarter 2022 earnings released: EPS: €0.063 (vs €0.13 in 1Q 2021)First quarter 2022 results: EPS: €0.063 (down from €0.13 in 1Q 2021). Revenue: €126.4m (up 22% from 1Q 2021). Net income: €1.65m (down 51% from 1Q 2021). Profit margin: 1.3% (down from 3.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.2%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 19Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.35 (up from €0.10 in FY 2020). Revenue: €457.7m (up 55% from FY 2020). Net income: €9.38m (up 244% from FY 2020). Profit margin: 2.0% (up from 0.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Over the next year, revenue is expected to shrink by 8.0% compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €2.28, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 26x in the Electrical industry in Germany. Total returns to shareholders of 11% over the past three years.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS €0.084 (vs €0.041 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €113.2m (up 63% from 3Q 2020). Net income: €2.23m (up 107% from 3Q 2020). Profit margin: 2.0% (up from 1.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Sep 18Second quarter 2021 earnings released: EPS €0.13 (vs €0.016 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €124.6m (up 109% from 2Q 2020). Net income: €3.31m (up €2.88m from 2Q 2020). Profit margin: 2.7% (up from 0.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improved over the past weekAfter last week's 16% share price gain to €3.04, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 39% over the past three years.
Valuation Update With 7 Day Price Move • Jun 21Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €2.70, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 12% over the past three years.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improved over the past weekAfter last week's 24% share price gain to €2.75, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electrical industry in Germany. Total returns to shareholders of 17% over the past three years.
Reported Earnings • May 19First quarter 2021 earnings released: EPS €0.13 (vs €0.033 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €103.8m (up 34% from 1Q 2020). Net income: €3.34m (up €4.20m from 1Q 2020). Profit margin: 3.2% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • May 17Upcoming dividend of €0.03 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.8%).
Reported Earnings • Mar 19Full year 2020 earnings released: EPS €0.10 (vs €0.073 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €296.1m (down 5.3% from FY 2019). Net income: €2.73m (up 40% from FY 2019). Profit margin: 0.9% (up from 0.6% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Feb 11New 90-day high: €1.71The company is up 20% from its price of €1.43 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 35% over the same period.
Is New 90 Day High Low • Dec 08New 90-day high: €1.57The company is up 10.0% from its price of €1.42 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 13% over the same period.
Reported Earnings • Nov 18Third quarter 2020 earnings released: EPS €0.041The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €69.3m (down 2.1% from 3Q 2019). Net income: €1.08m (up €1.55m from 3Q 2019). Profit margin: 1.6% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Sep 22New 90-day low: €1.35The company is down 3.0% from its price of €1.39 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 16% over the same period.
Reported Earnings • Sep 21First half earnings releasedOver the last 12 months the company has reported total losses of €1.08m, with earnings decreasing by €4.56m from the prior year. Total revenue was €279.0m over the last 12 months, down 17% from the prior year.