GICS Sector : Real Estate
Infrastrutture Wireless Italiane S.p.A. operates in the electronic communications infrastructure sector in Europe.The company offers infrastructure hosting equipment for radio broadcasting, telecommunications, and television, and radio signal broadcasting.It also provides integrated hosting services, including cellular communication and broadcast towers; infrastructures, such as cabling, spaces for equipment, technological plant for power supply, and air-conditioning systems for developing wireless networks, sensors, IoT, and VDS.
INWIT's third-quarter 2025 financial results showed revenue growth of 4.1% and EBITDA after lease growth of 4.4% with a margin of 73%. Earnings per share (EPS) came in at €0.1, slightly below analyst estimates of €0.1157. Revenue growth was driven by the addition of 670 new PoPs during the quarter and the growth of smart infrastructure revenues to over €22 million. The company's cash flow was also robust, with recurring free cash flow of €170 million and a cash conversion of 69%.
Publication Date: Nov -15
The company's revenue growth was in line with its updated expectations for 2026-2030, which include a revenue growth of 4% per annum and progressive margin expansion. Diego Galli emphasized that over 50% of the growth is contractually committed through inflation and Anchor MSAs, providing a degree of visibility on future revenue. As Galli noted, "the company's role is to facilitate densification through sharing economics and industrial capabilities."
Analysts estimate next year's revenue growth at 5.6%, which is slightly higher than the company's current guidance. With a P/E Ratio of 20.4 and an EV/EBITDA of 12.75, the market appears to be pricing in a moderate growth trajectory. The Dividend Yield of 6.54% and Free Cash Flow Yield of 6.59% also suggest that the stock is attractive from a yield perspective. The company's Return on Equity (ROE) of 9.05% and Return on Invested Capital (ROIC) of 5.12% indicate a relatively efficient use of capital.
The company's guidance for 2026-2030 is at the low end of the target range, reflecting a more cautious outlook due to budget constraints and a challenging market environment. However, INWIT is well-positioned to benefit from the need for densification in the Italian market, and the company's Master Service Agreement (MSA) provides a strong contract framework. As the industry continues to evolve, INWIT is exploring new opportunities, including edge data centers and involvement in active equipment as a neutral host.
Infrastrutture Wireless Italiane SpA (IFSUF) Q3 2025 Earnings Call Highlights: Resilient Growth ...
Nov -11
INWIT (BIT:INW): Exploring Valuation Perspectives After Recent Subtle Share Movements
Sep -10
Assessing INWIT Shares as Market Eyes Telecom Infrastructure After Recent Sector Volatility
Sep -09
Infrastrutture Wireless Italiane SpA (IFSUF) Q4 2024 Earnings Call Highlights: Strategic Growth ...
Mar -06
Infrastrutture Wireless Italiane SpA (IFSUF) Q2 2024 Earnings Call Highlights: Strong Revenue ...
Oct -09
Telecom Italia sells INWIT stake to Ardian for €250m
Aug -13
The Onward Charging market is driven by increasing mobile data usage, growing demand for seamless roaming experiences, and advancements in 5G technology. As more users travel abroad, the need for efficient billing and connectivity solutions will fuel market growth.
Growing demand for 5G infrastructure, increasing adoption of IoT devices, and Italian government's initiatives to enhance digital infrastructure are expected to drive the growth of wireless infrastructure development and management in Italy.
A network of antennas and fiber optic cables that provide wireless coverage in large public venues, such as stadiums, arenas, and convention centers.
Compact, low-power base stations that provide high-speed wireless connectivity in urban and rural areas, particularly in areas with high population density.
A technology that allows wireless carriers to offload mobile data traffic to Wi-Fi networks, reducing congestion on cellular networks.
Dedicated wireless networks designed for specific industries or organizations, providing secure and reliable connectivity for critical communications.
A network of cell towers and transmission equipment that provide wireless coverage and connectivity across the country.
The threat of substitutes for Infrastrutture Wireless Italiane S.p.A. is medium, as there are limited alternatives to wireless telecommunications services in Italy. However, the increasing adoption of fiber-optic networks and 5G technology may pose a threat to the company's market share.
The bargaining power of customers is low, as individual customers have limited negotiating power. However, large enterprise customers may have more bargaining power due to their significant demand for wireless services.
The bargaining power of suppliers is medium, as Infrastrutture Wireless Italiane S.p.A. relies on a few large suppliers for network equipment and infrastructure. However, the company's scale and market position give it some negotiating power.
The threat of new entrants is low, as the Italian wireless telecommunications market is highly regulated and requires significant investment in infrastructure and spectrum licenses. Barriers to entry are high, making it difficult for new entrants to compete.
The intensity of rivalry is high, as Infrastrutture Wireless Italiane S.p.A. operates in a highly competitive market with several established players, including Telecom Italia, Vodafone, and Wind Tre. The company must invest heavily in marketing and network infrastructure to maintain its market share.
| Value | |
|---|---|
| Debt Weight | 44.53% |
| Debt Cost | 3.95% |
| Equity Weight | 55.47% |
| Equity Cost | 5.56% |
| WACC | 4.84% |
| Leverage | 80.29% |
Value: 2.7
Growth: 6.8
Quality: 8.7
Yield: 2.5
Momentum: 8.5
Volatility: 8.3
1-Year Total Return ->
Value: 2.5
Growth: 7.2
Quality: 6.1
Yield: 8.1
Momentum: 3.0
Volatility: 10.0
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Value: 5.4
Growth: 4.9
Quality: 8.0
Yield: 5.6
Momentum: 2.0
Volatility: 7.7
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Value: 6.1
Growth: 4.0
Quality: 5.4
Yield: 5.6
Momentum: 1.5
Volatility: 6.3
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Value: 3.0
Growth: 2.3
Quality: 4.7
Yield: 8.8
Momentum: 2.5
Volatility: 7.3
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Value: 5.1
Growth: 4.2
Quality: 5.1
Yield: 5.0
Momentum: 3.0
Volatility: 5.0
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