What is Itron's operating margin?

Itron (ITRI) reported operating margin of 13% in Q1 2026.

How has Itron's operating margin changed year-over-year?

Itron's operating margin increased by 14.3% year-over-year, from 11.4% to 13%.

What is the long-term trend for Itron's operating margin?

Over 3 years (2021 to 2025), Itron's operating margin has grown at a 49.0% compound annual growth rate (CAGR), from -4% to 13.2%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Itron ITRI Operating margin

Operating margin at other companies

Badger MeterBMI

18.9%-1.2pp

Advanced Energy IndustriesAEIS

10.8%+6.5pp

Mueller Water ProductsMWA

19.2%+3.7pp

XylemXYL

13.6%+1.6pp

FortiveFTV

17.6%-0.3pp

ROP

Roper Technologies, Inc.ROP

28.1%-0.1pp

Other financials

Income statement

See full

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

See full

Market cap$3.58B-16.8%

Enterprise value$4.47B-1.1%

P/E12.4×-4.6×

P/S1.5×-0.2×

Profitability

See full

Gross margin38.8%+4.0pp

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.

operating income/total revenue=13%

Based on trailing twelve months.

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

Ask your AI about Itron's operating margin.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Itron's operating margin?: Itron (ITRI) reported operating margin of 13% in Q1 2026.
How has Itron's operating margin changed year-over-year?: Itron's operating margin increased by 14.3% year-over-year, from 11.4% to 13%.
What is the long-term trend for Itron's operating margin?: Over 3 years (2021 to 2025), Itron's operating margin has grown at a 49.0% compound annual growth rate (CAGR), from -4% to 13.2%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.