Itron has beaten consensus EPS in each of the last 4 quarters by an average of roughly 15%, and the stock screens attractively valued at a forward P/E of 12.3x with a PEG below 1.0, leaving approximately 37% potential upside to the analyst-based target. However, a confirmed technical downtrend with a moving-average death cross, declining revenue, and an elevated put/call ratio of 2.00 currently block actionable entry despite the compelling potential reward.
Thesis pillars
- Attractive Valuation With Upside→Stable
- Consistent Earnings Outperformance→Stable
- Confirmed Technical Downtrend Hard Block→Stable
- +1 more pillar — see the Why tab for full reasoning
Itron, Inc. (ITRI) Stock Analysis
Recovery setup · Catalyst-Driven edge
Technology · Scientific & Technical Instruments
Sell if holding. Multiple concerning factors at $86.74: Concentration risk — Supplier: limited or sole-source vendors; Weak overall score: 4.8/10.
Itron supplies grid edge intelligence hardware, software, and services to electric, gas, and water utilities and municipalities across four segments: Device Solutions, Networked Solutions, Outcomes, and Resiliency Solutions. Revenue spans one-time product sales and multi-year... Read more
Sell if holding. Multiple concerning factors at $86.74: Concentration risk — Supplier: limited or sole-source vendors; Weak overall score: 4.8/10. Chart setup: Death cross but MACD improving, RSI 70. Score 4.8/10, moderate confidence.
Passes 8/9 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 25d clear, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About Itron, Inc.
About Itron, Inc.
Itron's total backlog reached $4.5 billion at December 31, 2025, with $2.1 billion in new bookings during the year and no single customer exceeding 10% of total revenues. The company operates four segments—Device Solutions, Networked Solutions, Outcomes, and Resiliency Solutions (added Q4 2025)—with 5,550 employees and R&D spending of approximately $207 million, representing 9% of total revenues in 2025.
Itron sells hardware meters (Device Solutions), complete AMI and AMR network solutions combining smart endpoints and infrastructure (Networked Solutions), analytics and managed services that turn meter data into operational insights (Outcomes), and machine-learning-augmented infrastructure safety and resiliency services (Resiliency Solutions, created via the 2025 acquisition of Urbint, Inc.). Revenue spans standalone product sales and multi-year managed services or SaaS/NaaS contracts, serving electric, gas, and water utilities plus municipalities. Smaller utilities and municipalities are typically served through indirect channels including distributors, agents, and partners. Circuit boards and key subassemblies are procured from limited or sole-source vendors, which if disrupted could impair product deliveries and damage customer relationships. Primary named competitors include LM Ericsson Telephone Company, Landis+Gyr, Advanced Energy Industries, and Xylem, Inc.
Show full overview
The sole-source dependency in circuit boards and key subassemblies represents a fulfillment risk the 10-K addresses across multiple sections: qualifying a replacement vendor if a sole-source supplier fails could be complex, costly, and time-consuming. The semiconductor supply imbalance that disrupted customer deliveries in recent years is explicitly cited in the 2025 filing as a recurring exposure, noting that temporary supply-demand imbalances may create delivery delays and shift revenues originally forecasted in prior periods into future periods. With $1.6 billion in 12-month backlog at December 31, 2025, any sustained supply disruption could weigh on near-term revenue recognition.
See also: Technology · Scientific & Technical Instruments
From Itron, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-07-07Recent Developments — Itron, Inc.
Latest news
- NEWS Itron, Inc. 2026 Q1 - Results - Earnings Call Presentation (NASDAQ:ITRI) 2026-04-28 - Seeking Alpha — Seeking Alpha neutral
- NEWS Why Itron Stock Battled Back From a Big Sell-Off Today - The Motley Fool — The Motley Fool positive
- NEWS Why Itron Stock Battled Back From a Big Sell-Off Today - The Globe and Mail — The Globe and Mail positive
- NEWS Itron’s (NASDAQ:ITRI) Q1 CY2026 Sales Top Estimates - StockStory — StockStory positive
- NEWS Itron (ITRI) Shares Drop 8% Following Q1 2026 Outlook Miss - GuruFocus — GuruFocus negative
Generated 2026-07-07T10:21:37Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomer10 largest customers32%10-K Item 1: 'Our 10 largest customers in each of the years ended December 31, 2025, 2024, and 2023, accounted for approximately 32%, 33%, and 36% of total revenues.'
- HIGHSupplierlimited or sole-source vendors10-K Item 1: 'certain components and raw materials are supplied by limited or sole-source vendors'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
3 floor-breakers
Revenue shrinking — -3.3% YoY. Growth thesis broken unless recovery story develops.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $86.74: Concentration risk — Supplier: limited or sole-source vendors; Weak overall score: 4.8/10. Chart setup: Death cross but MACD improving, RSI 70. Prior stop was $81.64. Score 4.8/10, moderate confidence.
Take-profit target: $110.23 (+27.1% upside). Prior stop was $81.64. Stop-loss: $81.64.
Concentration risk — Supplier: limited or sole-source vendors; Weak overall score: 4.8/10; Weak growth.
Itron, Inc. trades at a P/E of 13.6 (forward 13.0). TrendMatrix value score: 8.1/10. Verdict: Sell.
20 analysts cover ITRI with a consensus score of 4.0/5. Average price target: $127.
What does Itron, Inc. do?Itron supplies grid edge intelligence hardware, software, and services to electric, gas, and water utilities and...
Itron supplies grid edge intelligence hardware, software, and services to electric, gas, and water utilities and municipalities across four segments: Device Solutions, Networked Solutions, Outcomes, and Resiliency Solutions. Revenue spans one-time product sales and multi-year managed services and SaaS contracts, with 5,550 employees and $4.5 billion in total backlog at December 31, 2025.