What is Itron's invested capital?

Itron (ITRI) reported invested capital of $2.5B in Q1 2026.

How has Itron's invested capital changed year-over-year?

Itron's invested capital increased by 53.0% year-over-year, from $1.63B to $2.5B.

What is the long-term trend for Itron's invested capital?

Over 5 years (2020 to 2025), Itron's invested capital has grown at a 4.2% compound annual growth rate (CAGR), from $1.61B to $1.98B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Itron ITRI Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

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5.9%-9.9pp

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3.8%-1.7pp

Power IntegrationsPOWI

1.5%-1.0pp

Hayward HoldingsHAYW

8.3%+0.8pp

ChemoursCC

-0.6%-4.1pp

United States Lime & Minerals, Inc.USLM

46.5%-2.9pp

Other financials

Income statement

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Revenue$587.0M-3.3%

Gross profit$236.3M+8.8%

Operating income$67.6M-11.3%

Net income$53.5M-18.4%

EPS (diluted)$1.18-16.9%

Balance sheet

See full

Cash & equivalents$712.9M-36.5%

Total debt$1.6B+26.5%

Total equity$1.6B+8.0%

Total assets$4.0B+13.6%

Cash flow

See full

Operating cash flow$85.5M+18.6%

CapEx$6.5M+40.7%

Free cash flow$79.0M+17.0%

Valuation

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Market cap$3.6B-16.8%

Profitability

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Gross margin38.8%+4.0pp

Operating margin13%+1.6pp

Net margin12.3%+2.0pp

FCF margin16.8%+7.0pp

Returns & leverage

See full

Return on equity18.7%+0.9pp

Debt / equity1×+0.1×

Current ratio2.7×+0.7×

Where this comes from

Calculated from Itron’s reported figures.

$1.6Btotal debt+$1.6Btotal stockholders equity−$712.9Mcash and equivalents=$2.5B

The official record: Itron’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Itron's invested capital?: Itron (ITRI) reported invested capital of $2.5B in Q1 2026.
How has Itron's invested capital changed year-over-year?: Itron's invested capital increased by 53.0% year-over-year, from $1.63B to $2.5B.
What is the long-term trend for Itron's invested capital?: Over 5 years (2020 to 2025), Itron's invested capital has grown at a 4.2% compound annual growth rate (CAGR), from $1.61B to $1.98B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).