Latest Ratios: P/E Ratio 17.9x · EV/EBITDA 9.8x · ROE 27.9%. (2003–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $855M | $620M | $545M | $431M | $554M | $396M | $529M | $676M | $717M | $556M |
| Enterprise Value | $944M | $756M | $551M | $500M | $426M | $540M | $384M | $555M | $698M | $680M | $525M |
| P/E Ratio → | 17.94 | 14.73 | 11.54 | 11.30 | 11.61 | 16.16 | 24.74 | 48.33 | 10.48 | 16.36 | 17.32 |
| P/S Ratio | 2.90 | 2.38 | 1.84 | 1.70 | 1.47 | 2.04 | 1.61 | 1.89 | 2.67 | 3.01 | 2.78 |
| P/B Ratio | 4.64 | 3.81 | 3.24 | 3.02 | 2.82 | 4.02 | 3.05 | 3.89 | 3.87 | 5.38 | 5.14 |
| P/FCF | 15.60 | 12.80 | 10.22 | 8.65 | 23.18 | 14.14 | 7.96 | 12.78 | 21.44 | 25.84 | 19.97 |
| P/OCF | 11.77 | 9.65 | 8.34 | 7.06 | 9.56 | 9.93 | 6.60 | 8.86 | 12.69 | 16.33 | 13.40 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.11 | 1.64 | 1.56 | 1.45 | 1.99 | 1.56 | 1.99 | 2.75 | 2.85 | 2.63 |
| EV / EBITDA | 9.82 | 7.87 | 6.05 | 5.75 | 5.40 | 7.45 | 6.31 | 7.77 | 9.14 | 9.73 | 8.67 |
| EV / EBIT | 12.26 | 9.85 | 7.53 | 7.54 | 7.68 | 10.54 | 12.30 | 21.51 | 9.09 | 12.25 | 10.48 |
| EV / FCF | — | 11.32 | 9.09 | 7.94 | 22.87 | 13.78 | 7.71 | 13.42 | 22.13 | 24.52 | 18.85 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.7% | 49.7% | 47.8% | 47.9% | 46.9% | 47.2% | 47.4% | 46.7% | 50.3% | 50.1% | 51.1% |
| Operating Margin | 21.4% | 21.4% | 21.1% | 20.6% | 20.0% | 20.1% | 17.1% | 17.4% | 24.3% | 23.6% | 24.5% |
| Net Profit Margin | 16.1% | 16.1% | 16.0% | 15.0% | 12.7% | 12.6% | 6.6% | 2.5% | 25.5% | 18.4% | 16.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.9% | 27.9% | 28.9% | 28.9% | 25.5% | 25.6% | 12.1% | 4.4% | 41.9% | 36.3% | 32.8% |
| ROA | 16.3% | 16.3% | 16.6% | 15.8% | 12.7% | 11.3% | 4.9% | 1.9% | 21.9% | 22.3% | 20.1% |
| ROIC | 46.4% | 46.4% | 41.2% | 35.0% | 32.5% | 33.8% | 22.5% | 20.3% | 31.6% | 48.8% | 53.1% |
| ROCE | 29.5% | 29.5% | 30.5% | 31.1% | 30.3% | 28.0% | 19.2% | 19.2% | 29.5% | 41.6% | 43.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.05 | 0.05 | 0.14 | 0.26 | 0.46 | 0.59 | 0.42 | 0.00 | 0.00 |
| Debt / EBITDA | 0.09 | 0.09 | 0.10 | 0.10 | 0.28 | 0.50 | 0.99 | 1.13 | 0.96 | 0.00 | 0.00 |
| Net Debt / Equity | — | -0.44 | -0.36 | -0.25 | -0.04 | -0.10 | -0.09 | 0.20 | 0.12 | -0.28 | -0.29 |
| Net Debt / EBITDA | -1.03 | -1.03 | -0.75 | -0.51 | -0.07 | -0.20 | -0.20 | 0.37 | 0.29 | -0.53 | -0.51 |
| Debt / FCF | — | -1.48 | -1.13 | -0.71 | -0.31 | -0.36 | -0.24 | 0.64 | 0.69 | -1.33 | -1.12 |
| Interest Coverage | 41.40 | 41.40 | 36.31 | 34.97 | 21.50 | 22.76 | 14.24 | 9.89 | 145.38 | — | — |
Net cash position: cash ($108M) exceeds total debt ($9M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.28 | 2.28 | 2.22 | 1.93 | 1.62 | 1.56 | 1.59 | 1.72 | 1.80 | 2.09 | 1.98 |
| Quick Ratio | 2.06 | 2.06 | 1.95 | 1.64 | 1.31 | 1.30 | 1.39 | 1.47 | 1.53 | 1.87 | 1.73 |
| Cash Ratio | 1.03 | 1.03 | 0.88 | 0.58 | 0.30 | 0.53 | 0.70 | 0.54 | 0.51 | 0.62 | 0.56 |
| Asset Turnover | — | 0.93 | 1.03 | 1.00 | 1.01 | 0.92 | 0.79 | 0.82 | 0.68 | 1.11 | 1.12 |
| Inventory Turnover | 7.77 | 7.77 | 7.49 | 6.21 | 5.45 | 5.27 | 5.71 | 5.83 | 4.44 | 8.09 | 6.80 |
| Days Sales Outstanding | — | 59.49 | 51.76 | 51.78 | 57.07 | 59.17 | 58.46 | 58.92 | 78.18 | 62.75 | 61.94 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.6% | 4.4% | 4.5% | 2.1% | 2.7% | 2.9% | 2.5% | 3.8% | 3.0% | 3.2% | 3.1% |
| Payout Ratio | 64.8% | 64.8% | 52.3% | 24.0% | 30.9% | 46.1% | 61.8% | 288.1% | 31.3% | 51.7% | 53.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.6% | 6.8% | 8.7% | 8.8% | 8.6% | 6.2% | 4.0% | 2.1% | 9.5% | 6.1% | 5.8% |
| FCF Yield | 6.4% | 7.8% | 9.8% | 11.6% | 4.3% | 7.1% | 12.6% | 7.8% | 4.7% | 3.9% | 5.0% |
| Buyback Yield | 0.3% | 0.4% | 0.0% | 1.2% | 2.0% | 1.3% | 0.0% | 1.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.9% | 4.8% | 4.5% | 3.3% | 4.6% | 4.2% | 2.5% | 4.9% | 3.0% | 3.2% | 3.1% |
| Shares Outstanding | — | $20M | $20M | $20M | $20M | $21M | $21M | $21M | $21M | $21M | $21M |
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying ITRN stock.
Ituran Location and Control Ltd.'s current P/E ratio is 17.9x. The historical average is 17.6x. This places it at the 71th percentile of its historical range.
Ituran Location and Control Ltd.'s current EV/EBITDA is 9.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.3x.
Ituran Location and Control Ltd.'s return on equity (ROE) is 27.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 35.0%.
Based on historical data, Ituran Location and Control Ltd. is trading at a P/E of 17.9x. This is at the 71th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ituran Location and Control Ltd.'s current dividend yield is 3.61% with a payout ratio of 64.8%.
Ituran Location and Control Ltd. has 49.7% gross margin and 21.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Ituran Location and Control Ltd.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Emerging market currency volatility
Growth at a Value Price
Ituran trades at a forward P/E of 14.16 and a PEG of 0.57, suggesting the market is pricing in minimal growth despite a recent acceleration in revenue and margin expansion, as reported in recent financial statements.
The valuation multiples appear to embed a significant discount relative to higher-growth technology peers, potentially reflecting the market's focus on Ituran's hardware component and emerging market exposure rather than its high-margin, recurring services revenue. The low PEG ratio indicates that the current stock price does not fully reflect the improving earnings trajectory seen in the last several quarters, creating a potential disconnect between fundamental performance and market perception.
Structural Margin Expansion
Gross margins have expanded by 440 basis points over the last ten quarters to 50.9%, a trend that appears driven by a favorable mix shift toward higher-margin subscription services, according to the company's reported financials.
This margin expansion is not a one-time event but a sustained trend, suggesting the business model is scaling efficiently with incremental subscribers adding minimal cost. The operating margin has similarly expanded to 22.7%, indicating that management is successfully controlling overhead costs as the revenue base grows, which points to strong operating leverage inherent in the fixed-cost service infrastructure.
Compounding Returns on Invested Capital
ROIC has improved from 9.5% in 2024Q1 to 15.1% in 2026Q2, a significant upward trend that suggests the company is generating increasingly efficient returns on its capital base, based on reported financial data.
The improvement in ROIC is primarily driven by expanding net margins rather than a significant increase in asset turnover, which has remained stable. This indicates that the core driver of value creation is the company's ability to convert revenue into profit, a hallmark of a business with pricing power and a scalable cost structure. The trend suggests the company is in a compounding phase, where retained earnings are being reinvested at progressively higher rates of return.
Fortress Balance Sheet Limits Risk
With a debt-to-equity ratio of just 0.02 and interest coverage of 17.90x, Ituran operates with negligible leverage, providing exceptional financial flexibility and resilience, as per recent balance sheet data.
The virtually unlevered balance sheet means the company faces minimal refinancing risk and can self-fund growth initiatives or weather economic downturns without strain. This conservative capital structure, combined with a substantial cash reserve, positions the company to act opportunistically, whether through shareholder returns or strategic investments, without the constraints imposed by debt covenants or interest burdens.
Working Capital Management in Flux
The cash conversion cycle has widened from 63 days in 2024Q1 to 57 days in 2026Q2, a trend that appears to be driven by a reduction in days payable outstanding, based on the company's reported figures.
While the overall cycle has improved slightly, the internal components show a shift: days inventory outstanding has decreased significantly, suggesting better inventory management, but this has been offset by a decline in DPO, which may indicate the company is paying suppliers faster. This could be a strategic choice to secure supply or a reflection of changing supplier terms, and warrants monitoring to see if it impacts cash flow generation.
The Misapplied Price-to-Book Ratio
The P/B ratio of 4.50 is frequently misapplied to Ituran, as it obscures the true value of its high-margin, recurring revenue streams and the strategic worth of its proprietary RF network, according to standard valuation practice.
For a business where the primary asset is a subscriber base and a physical network that generates recurring cash flows, book value is a poor proxy for economic value. The high P/B ratio may lead investors to incorrectly conclude the stock is expensive, while ignoring the strong free cash flow generation (P/FCF of 15.12) and the durable competitive advantage embedded in its infrastructure. A more appropriate metric would be EV/EBITDA or a discounted cash flow analysis, which better capture the earning power of the asset-light service model.