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Ituran Location and Control Ltd. (ITRN) 10-Year Financial Performance & Capital Metrics

ITRN • • Industrial / General
TechnologyCommunication EquipmentIoT & M2M CommunicationsTelematics & Asset Tracking
AboutIturan Location and Control Ltd., together with its subsidiaries, provides location-based telematics services and machine-to-machine telematics products. The company's Telematics services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment. It also offers on-demand navigation guidance, information, and assistance, including the provision of traffic reports and directions, as well as information on the location of gas stations, car repair shops, post offices, hospitals, and other facilities; and Connected Car, a service platform that includes a back-office application, a telematics device installed in the vehicle, mobile apps for IOS and Android users, and interface using the car infotainment screen, as well as usage based insurance and auto financing. This segment serves insurance companies and agents, car manufacturers, dealers and importers, cooperative sales channels, and private subscribers. Its Telematics Products segment provides Base Site, a radio receiver that includes a processor and a data computation unit to collect and send data to and from transponders, and to control centers; Control Center, a center consisting of software used to collect data from various base sites, conduct location calculations, and transmit location data to various customers and law enforcement agencies; navigation and tracking devices installed in vehicles; and SMART, a portable transmitter installed in vehicles that sends a signal to the base site enabling the location of vehicles, equipment, or an individual. The company was incorporated in 1994 and is headquartered in Azor, Israel.Show more
  • Revenue $336M +5.1%
  • EBITDA $91M +4.8%
  • Net Income $54M +11.5%
  • EPS (Diluted) 2.70 +12.0%
  • Gross Margin 47.77% -0.2%
  • EBITDA Margin 27.09% -0.3%
  • Operating Margin 21.12% +2.6%
  • Net Margin 15.96% +6.1%
  • ROE 28.88%
  • ROIC 41.22% +17.8%
  • Debt/Equity 0.05 -1.4%
  • Interest Coverage 35.19 +1.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Excellent 3Y average ROE of 27.8%
  • ✓Strong 5Y profit CAGR of 50.8%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 18.0% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.32%
5Y3.78%
3Y7.47%
TTM5.2%

Profit (Net Income) CAGR

10Y5.84%
5Y50.76%
3Y16.13%
TTM9.05%

EPS CAGR

10Y6.41%
5Y39.02%
3Y17.84%
TTM9.2%

ROCE

10Y Avg31.24%
5Y Avg27.82%
3Y Avg30.64%
Latest30.52%

Peer Comparison

Telematics & Asset Tracking
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ZBRAZebra Technologies Corporation13.11B258.8525.438.66%9.74%13.66%7.27%0.66
ITRNIturan Location and Control Ltd.903.37M45.4116.825.09%16.22%25.87%6.71%0.05

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+175.63M199.57M238.53M253.34M279.33M245.63M270.88M293.07M319.98M336.26M
Revenue Growth %-0.04%0.14%0.2%0.06%0.1%-0.12%0.1%0.08%0.09%0.05%
Cost of Goods Sold+85.75M97.54M115.25M126.01M148.81M130.11M143.05M155.51M166.82M175.64M
COGS % of Revenue0.49%0.49%0.48%0.5%0.53%0.53%0.53%0.53%0.52%0.52%
Gross Profit+89.88M102.03M119.38M127.33M130.52M115.52M127.84M137.56M153.16M160.62M
Gross Margin %0.51%0.51%0.5%0.5%0.47%0.47%0.47%0.47%0.48%0.48%
Gross Profit Growth %-0.07%0.14%0.17%0.07%0.03%-0.11%0.11%0.08%0.11%0.05%
Operating Expenses+49.24M54.03M62.85M64.95M81.86M73.49M73.22M78.79M87.21M89.45M
OpEx % of Revenue0.28%0.27%0.26%0.26%0.29%0.3%0.27%0.27%0.27%0.27%
Selling, General & Admin47.1M50.3M59.84M59.03M67.94M60.72M59.38M62.03M70.28M71.51M
SG&A % of Revenue0.27%0.25%0.25%0.23%0.24%0.25%0.22%0.21%0.22%0.21%
Research & Development2.4M2.9M3.16M6.22M13.91M12.77M14.1M16.85M16.99M18.09M
R&D % of Revenue0.01%0.01%0.01%0.02%0.05%0.05%0.05%0.06%0.05%0.05%
Other Operating Expenses-268K836K-147K-306K00-256K-92K-58K-148K
Operating Income+40.38M48.83M56.39M61.69M48.66M42.03M54.36M58.68M65.9M71.02M
Operating Margin %0.23%0.24%0.24%0.24%0.17%0.17%0.2%0.2%0.21%0.21%
Operating Income Growth %-0.13%0.21%0.15%0.09%-0.21%-0.14%0.29%0.08%0.12%0.08%
EBITDA+52.34M60.47M69.91M76.3M71.5M60.86M72.45M78.82M86.97M91.1M
EBITDA Margin %0.3%0.3%0.29%0.3%0.26%0.25%0.27%0.27%0.27%0.27%
EBITDA Growth %-0.11%0.16%0.16%0.09%-0.06%-0.15%0.19%0.09%0.1%0.05%
D&A (Non-Cash Add-back)11.96M11.63M13.52M14.61M22.84M18.83M18.1M20.13M21.07M20.08M
EBIT41.9M50.05M55.55M76.76M25.81M31.23M51.22M55.41M66.3M73.27M
Net Interest Income+1.38M2.21M1.67M176K-2.11M-1.89M-1.71M-1.58M-247K-8K
Interest Income1.44M2.21M1.67M704K500K302K538K995K1.65M2.01M
Interest Expense64K00528K2.61M2.19M2.25M2.58M1.9M2.02M
Other Income/Expense-982K771K7.68M18.77M-28.66M-13.83M-5.49M-6.44M-2.2M105K
Pretax Income+39.39M49.6M64.07M80.45M20M28.2M48.87M52.24M63.7M71.13M
Pretax Margin %0.22%0.25%0.27%0.32%0.07%0.11%0.18%0.18%0.2%0.21%
Income Tax+12.82M14.88M17.7M17.27M12.23M10.86M11.85M12.74M13.36M14.58M
Effective Tax Rate %0.63%0.65%0.68%0.8%0.34%0.57%0.7%0.71%0.76%0.75%
Net Income+24.97M32.14M43.79M64.53M6.89M16.12M34.26M37.1M48.14M53.65M
Net Margin %0.14%0.16%0.18%0.25%0.02%0.07%0.13%0.13%0.15%0.16%
Net Income Growth %-0.18%0.29%0.36%0.47%-0.89%1.34%1.12%0.08%0.3%0.11%
Net Income (Continuing)26.57M34.73M46.36M63.18M7.77M17.34M37.01M39.5M50.34M56.55M
Discontinued Operations0000000000
Minority Interest4.12M5.94M7.44M6.51M6.58M2.71M5.34M7.06M5.79M6.03M
EPS (Diluted)+1.191.532.093.060.520.771.651.822.412.70
EPS Growth %-0.18%0.29%0.37%0.46%-0.83%0.48%1.14%0.1%0.32%0.12%
EPS (Basic)1.191.532.093.060.520.771.651.822.412.70
Diluted Shares Outstanding20.97M20.97M20.97M21.08M21.04M20.81M20.77M20.42M20M19.89M
Basic Shares Outstanding20.97M20.97M20.97M21.08M21.04M20.81M20.77M20.42M20M19.89M
Dividend Payout Ratio0.7%0.53%0.52%0.31%2.88%0.62%0.46%0.31%0.24%0.52%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+91.7M111.19M137.11M188.91M174.15M179.44M162.73M150.65M178.54M194.56M
Cash & Short-Term Investments29.05M31.48M40.47M53.3M54.32M78.85M54.71M28.17M53.55M77.37M
Cash Only27.02M31.09M36.91M51.4M53.96M72.18M50.31M27.85M53.43M77.36M
Short-Term Investments2.04M398K3.56M1.9M358K6.66M4.41M316K119K10K
Accounts Receivable27.44M33.87M41.01M54.26M45.09M39.34M43.92M45.82M45.39M47.69M
Days Sales Outstanding57.0261.9462.7578.1858.9258.4659.1757.0751.7851.76
Inventory12.78M14.35M14.24M28.37M25.54M22.62M27.13M28.51M26.87M23.43M
Days Inventory Outstanding54.4153.745.1182.1762.6463.4669.2266.9158.848.7
Other Current Assets11.39M9M13.37M17.02M15.55M14.34M15.01M15.81M14.89M16.64M
Total Non-Current Assets+50.3M66.83M78.05M184.89M165.09M133.04M130.29M140.28M140.15M132.32M
Property, Plant & Equipment31.51M35.64M39.05M50.46M61.49M43.2M40.34M55.15M50.03M42.03M
Fixed Asset Turnover5.57x5.60x6.11x5.02x4.54x5.69x6.71x5.31x6.40x8.00x
Goodwill3.36M3.41M3.78M69.87M50.09M39.86M40M39.51M39.4M39.33M
Intangible Assets26K23K38K39.04M23.36M19.38M16.75M12.62M10.83M9.01M
Long-Term Investments4.78M12.06M16.22M11.35M4.93M2.17M2.75M2.97M2.93M2.01M
Other Non-Current Assets8.34M9.38M10.57M12.72M14.84M16.51M19.35M18.27M22.51M27.68M
Total Assets+142M178.02M215.16M373.79M339.24M312.47M293.02M290.93M318.69M326.88M
Asset Turnover1.24x1.12x1.11x0.68x0.82x0.79x0.92x1.01x1.00x1.03x
Asset Growth %-0.07%0.25%0.21%0.74%-0.09%-0.08%-0.06%-0.01%0.1%0.03%
Total Current Liabilities+41.58M56.13M65.75M104.69M101.06M112.73M104.13M92.97M92.46M87.72M
Accounts Payable10.47M18.62M23.26M23.99M22.66M19.72M21.27M21.94M20.84M18.85M
Days Payables Outstanding44.5569.6973.6869.4855.5755.3154.2951.4945.639.17
Short-Term Debt155K3K48K10.56M18.11M20.39M17.75M11.85M355K114K
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities6.93M5.49M4.5M10.14M7.57M20.23M10.06M9.91M9.43M8.88M
Current Ratio2.21x1.98x2.09x1.80x1.72x1.59x1.56x1.62x1.93x2.22x
Quick Ratio1.90x1.73x1.87x1.53x1.47x1.39x1.30x1.31x1.64x1.95x
Cash Conversion Cycle66.8745.9534.1990.8765.9866.6274.1172.4964.9761.3
Total Non-Current Liabilities+12.6M13.72M16.18M108.9M102.26M69.85M51.09M45.1M45.98M47.9M
Long-Term Debt00062.62M49.8M34.07M13.67M345K237K0
Capital Lease Obligations000010.84M2.69M1.75M6.89M4.77M5.56M
Deferred Tax Liabilities0006.46M2.87M2.49M1.95M1.53M1.12M418K
Other Non-Current Liabilities11.63M12.69M14.94M31.6M28.98M22.06M24.81M23.3M26.59M29.69M
Total Liabilities54.18M69.85M81.93M209.77M203.32M182.57M155.22M137.72M138.44M135.62M
Total Debt+155K3K48K73.18M80.54M60M36.12M22.09M8.66M9.06M
Net Debt-26.86M-31.08M-36.86M21.78M26.57M-12.18M-14.19M-5.75M-44.77M-68.3M
Debt / Equity0.00x0.00x0.00x0.42x0.59x0.46x0.26x0.14x0.05x0.05x
Debt / EBITDA0.00x0.00x0.00x0.96x1.13x0.99x0.50x0.28x0.10x0.10x
Net Debt / EBITDA-0.51x-0.51x-0.53x0.29x0.37x-0.20x-0.20x-0.07x-0.51x-0.75x
Interest Coverage630.88x--116.83x18.64x19.16x24.16x22.77x34.76x35.19x
Total Equity+87.82M108.17M133.23M174.7M135.91M129.9M137.8M152.86M180.25M191.26M
Equity Growth %-0.07%0.23%0.23%0.31%-0.22%-0.04%0.06%0.11%0.18%0.06%
Book Value per Share4.195.166.358.296.466.246.647.499.019.61
Total Shareholders' Equity83.7M102.23M125.79M168.19M129.33M127.19M132.46M145.8M174.45M185.23M
Common Stock1.98M1.98M1.98M1.98M1.98M1.98M1.98M1.98M1.98M1.98M
Retained Earnings57.74M71.72M92.06M129.58M116.48M127.68M143.26M168.96M203.56M0
Treasury Stock-30.05M-30.05M-30.05M-35.95M-41.95M-41.95M-49.23M-57.67M-64.29M0
Accumulated OCI-17.52M-12.97M-9.75M-20.6M-25.86M-38.83M-41.89M-45.83M-45.17M0
Minority Interest4.12M5.94M7.44M6.51M6.58M2.71M5.34M7.06M5.79M6.03M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+35.91M41.47M43.91M53.26M59.68M60.07M55.79M45.12M77.22M74.27M
Operating CF Margin %0.2%0.21%0.18%0.21%0.21%0.24%0.21%0.15%0.24%0.22%
Operating CF Growth %-0.05%0.15%0.06%0.21%0.12%0.01%-0.07%-0.19%0.71%-0.04%
Net Income24.97M32.14M43.79M60.67M6.89M16.12M34.26M37.1M48.14M53.65M
Depreciation & Amortization11.03M11.63M13.52M14.61M22.84M18.83M18.1M20.13M21.07M20.08M
Stock-Based Compensation0000000000
Deferred Taxes0000000000
Other Non-Cash Items1.81M6.52M-878K-21.36M19.85M3.88M6.68M9.47M3.81M2.24M
Working Capital Changes-1.9M-8.82M-12.53M-664K10.1M21.24M-3.25M-21.59M4.21M-1.71M
Change in Receivables117K-4.55M-4.77M6.18M10.7M4.5M-3.99M-5.1M-26K-5.23M
Change in Inventory-658K-1.42M1.63M3.58M3.81M3.12M-3.84M-5.83M1.1M3.37M
Change in Payables0000000000
Cash from Investing+-25.71M-19.86M-14.69M-84.85M-18.29M-11.48M-18.52M-27.35M-17.23M-15.94M
Capital Expenditures-18.72M-13.64M-16.16M-21.74M-18.31M-10.23M-16.63M-26.5M-14.24M-13.63M
CapEx % of Revenue0.11%0.07%0.07%0.09%0.07%0.04%0.06%0.09%0.04%0.04%
Acquisitions----------
Investments----------
Other Investing-6.98M-6.21M1.47M5.86M23K-1.25M-1.9M-849K-2.99M-2.31M
Cash from Financing+-18.66M-18.23M-24.27M49.77M-38.93M-29.45M-58.67M-36.36M-32.93M-31.77M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-17.59M-17.09M-22.64M-20.22M-19.85M-9.97M-15.81M-11.46M-11.56M-28.05M
Share Repurchases----------
Other Financing-1.07M-1.15M-1.62M-3.71M-4.14M-1.32M-11.8M0-3.03M-3.72M
Net Change in Cash----------
Free Cash Flow+17.19M27.83M27.75M31.52M41.37M49.83M39.16M18.61M62.98M60.63M
FCF Margin %0.1%0.14%0.12%0.12%0.15%0.2%0.14%0.06%0.2%0.18%
FCF Growth %-0.24%0.62%-0%0.14%0.31%0.2%-0.21%-0.52%2.38%-0.04%
FCF per Share0.821.331.321.501.972.391.890.913.153.05
FCF Conversion (FCF/Net Income)1.44x1.29x1.00x0.83x8.66x3.73x1.63x1.22x1.60x1.38x
Interest Paid203K324K2.65M1.27M1.79M1.96M979K713K358K24K
Taxes Paid10.18M17.7M22.89M15.53M10.38M14.4M13.5M11.09M10.93M14.79M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)27.38%32.8%36.28%41.92%4.44%12.13%25.59%25.53%28.9%28.88%
Return on Invested Capital (ROIC)51.71%53.06%48.76%31.6%20.33%22.5%33.79%32.51%34.98%41.22%
Gross Margin51.18%51.12%50.05%50.26%46.73%47.03%47.19%46.94%47.87%47.77%
Net Margin14.22%16.1%18.36%25.47%2.47%6.56%12.65%12.66%15.04%15.96%
Debt / Equity0.00x0.00x0.00x0.42x0.59x0.46x0.26x0.14x0.05x0.05x
Interest Coverage630.88x--116.83x18.64x19.16x24.16x22.77x34.76x35.19x
FCF Conversion1.44x1.29x1.00x0.83x8.66x3.73x1.63x1.22x1.60x1.38x
Revenue Growth-3.57%13.63%19.52%6.21%10.26%-12.07%10.28%8.19%9.18%5.09%

Revenue by Segment

2015201620172018201920202021202220232024
Telematics Services---181.36M204.73M182.94M189.65M---
Telematics Services Growth----12.89%-10.64%3.67%---
Telematics Products---71.98M74.6M62.68M81.23M---
Telematics Products Growth----3.65%-15.98%29.60%---
Location Based Services127.68M141.94M169.75M-------
Location Based Services Growth-11.17%19.59%-------
Wireless Communications Products47.95M57.63M64.88M-------
Wireless Communications Products Growth-20.21%12.58%-------

Revenue by Geography

2015201620172018201920202021202220232024
IL88.56M101.27M116.39M116.19M110.1M120.52M140.57M150.42M154.18M175.21M
IL Growth-14.36%14.93%-0.18%-5.24%9.46%16.64%7.01%2.49%13.64%
BR58.4M70.98M89.45M90.84M98.02M61.47M57.76M69.09M85.62M83.45M
BR Growth-21.54%26.02%1.55%7.90%-37.29%-6.03%19.61%23.93%-2.53%
Other Foreign Countries3.53M3.85M5.04M5.09M71.23M63.64M72.55M73.56M80.18M77.6M
Other Foreign Countries Growth-8.94%30.96%0.95%1299.37%-10.65%14.00%1.39%9.00%-3.22%
AR17.32M14.77M15.21M13.64M------
AR Growth--14.73%2.97%-10.31%------
US7.81M8.7M8.54M8.87M------
US Growth-11.34%-1.84%3.94%------
EC---8.36M------
EC Growth----------
MX---7.89M------
MX Growth----------

Frequently Asked Questions

Valuation & Price

Ituran Location and Control Ltd. (ITRN) has a price-to-earnings (P/E) ratio of 16.8x. This is roughly in line with market averages.

Growth & Financials

Ituran Location and Control Ltd. (ITRN) reported $348.4M in revenue for fiscal year 2024. This represents a 118% increase from $160.2M in 2011.

Ituran Location and Control Ltd. (ITRN) grew revenue by 5.1% over the past year. This is steady growth.

Yes, Ituran Location and Control Ltd. (ITRN) is profitable, generating $56.5M in net income for fiscal year 2024 (16.0% net margin).

Dividend & Returns

Yes, Ituran Location and Control Ltd. (ITRN) pays a dividend with a yield of 3.10%. This makes it attractive for income-focused investors.

Ituran Location and Control Ltd. (ITRN) has a return on equity (ROE) of 28.9%. This is excellent, indicating efficient use of shareholder capital.

Ituran Location and Control Ltd. (ITRN) generated $62.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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