Iren Group - Public Comps and Valuation Multiples

Iren Group Overview

About Iren Group

Iren SpA is a multi-service Italian utilities holding company that produces and distributes electricity and natural gas. It also provides district heating, water, and environmental services. Iren has five operating companies that include Iren Acqua Gas, Iren Energia (electricity and thermal production), Iren Mercato (sale of electricity, gas, and district heating), Iren Emilia (gas distribution), and Iren Ambiente (environmental services). The company primarily uses hydroelectric, cogeneration, and wind power as energy sources. The majority of revenue is derived from the distribution and sale of electricity and natural gas products and services.

Founded

2010

HQ

Employees

1.1K+

Website

gruppoiren.it

Sectors

Utilities
Environmental & Facilities Services
Service Providers
ClimateTech

Financials

LTM Revenue $7.2B

LTM EBITDA $1.6B

EV

$9.7B

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Iren Group Financials

As of September 2025, Iren Group reported last 12-month revenue of $7.2B and EBITDA of $1.6B.

In the same period, Iren Group achieved $349M in LTM net income.

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Iren Group P&L

In the most recent fiscal year, Iren Group reported revenue of $6.9B and EBITDA of $1.4B.

Iren Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$7.2B	XXX	$6.9B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$3.0B	XXX	XXX	XXX
Gross Margin	n/a	XXX	44%	XXX	XXX	XXX
EBITDA	$1.6B	XXX	$1.4B	XXX	XXX	XXX
EBITDA Margin	22%	XXX	21%	XXX	XXX	XXX
EBIT	$648M	XXX	$627M	XXX	XXX	XXX
EBIT Margin	9%	XXX	9%	XXX	XXX	XXX
Net Profit	$349M	XXX	$311M	XXX	XXX	XXX
Net Margin	5%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	$314M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Iren Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $7.2B. EBITDA for the last twelve months was $1.6B. In the most recent fiscal year, Iren Group achieved $6.9B in revenue and $1.4B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$7.2B	Analyst estimates available to subscribers	$6.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$3.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	44.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.6B	Analyst estimates available to subscribers	$1.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	21.5% EBITDA margin	Analyst estimates available to subscribers	20.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$648M	Analyst estimates available to subscribers	$627M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.0% EBIT margin	Analyst estimates available to subscribers	9.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$349M	Analyst estimates available to subscribers	$311M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.8% net profit margin	Analyst estimates available to subscribers	4.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$314M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Iren Group

This financial data table provides comprehensive performance metrics for Iren Group, a company based in Italy. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Iren Group generated $7.2B in revenue over the last twelve months.
The company achieved $1.6B in EBITDA over the last twelve months.
Net income over the last twelve months reached $349M.

Fiscal Year Performance

In the most recent fiscal year, Iren Group reported $6.9B in total revenue.
Fiscal year EBITDA was $1.4B.
The company maintained a gross profit margin of 44.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 20.8%.
Net profit margin reached 4.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Iren Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Iren Group Stock Performance

Iren Group has current market cap of EUR 3.5B (or $4.0B), and EV of EUR 8.4B (or $9.7B).

Market Cap Evolution

Iren Group Stock Data

As of October 17, 2025, Iren Group's stock price is EUR 3 (or $3).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$9.7B	$4.0B	XXX	XXX	XXX	XXX	$0.27

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Iren Group Valuation Multiples

Iren Group's trades at 1.4x EV/Revenue multiple, and 6.8x EV/EBITDA.

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Iren Group Financial Valuation Multiples

As of October 17, 2025, Iren Group has market cap of $4.0B and EV of $9.7B.

Equity research analysts estimate Iren Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Iren Group has a P/E ratio of 11.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$4.0B	XXX	$4.0B	XXX	XXX	XXX
EV (current)	$9.7B	XXX	$9.7B	XXX	XXX	XXX
EV/Revenue	1.3x	XXX	1.4x	XXX	XXX	XXX
EV/EBITDA	6.2x	XXX	6.8x	XXX	XXX	XXX
EV/EBIT	14.9x	XXX	15.4x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	11.5x	XXX	13.0x	XXX	XXX	XXX
EV/FCF	57.7x	XXX	33.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Iren Group Margins & Growth Rates

Iren Group's last 12 month revenue growth is 2%

Iren Group's revenue per employee in the last FY averaged $6.5M, while opex per employee averaged $2.3M for the same period.

Iren Group's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Iren Group's rule of X is 26% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Iren Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	2%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	22%	XXX	21%	XXX	XXX	XXX
EBITDA Growth	5%	XXX	12%	XXX	XXX	XXX
Rule of 40	19%	XXX	23%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	26%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$6.5M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$2.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	35%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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