Ituran Location and Control Ltd. (ITRN) 株式分析

企業概要

Ituran Location and Control Ltd. operates as a technology firm within the scientific and technical instruments industry, specializing in location-based telematics services and machine-to-machine telematics solutions across Israel, Brazil, and international markets. The company's business model is segmented into two primary areas: Telematics Services and Telematics Products, facilitating data-driven tracking and management for various clients. With a market capitalization of $1.06B and an annual revenue of $359.02M, the entity demonstrates a substantial operational footprint supported by a workforce of 2,800 employees. These valuation and revenue metrics indicate that the company has established a significant position in the global telematics sector, generating substantial cash inflows relative to its equity value. The scale of operations, evidenced by the nearly $360 million in trailing twelve-month revenue, suggests robust demand for its tracking infrastructure and proprietary software solutions.

財務健全性

The company reported revenue of $359.02M, net income of $57.97M, and EBITDA of $96.11M for the trailing twelve months. The difference between the revenue figure and the net income reveals a cost structure where approximately 36.8% of top-line revenue is consumed by operating expenses, taxes, and interest before arriving at the bottom line. Free cash flow stands at $51.30M, which signifies a healthy generation of liquidity after capital expenditures, providing the company with significant financial flexibility for operational investments or strategic acquisitions. The gross margin is 49.7%, indicating that the company retains nearly half of its revenue after covering the direct costs of goods sold, a level typical for software and hardware hybrid models. The operating margin of 21.8% and profit margin of 16.1% further illustrate efficient internal cost management and the ability to convert revenue into actual profit. Total cash on hand of $107.55M far exceeds total debt of $4.75M, resulting in a debt-to-equity ratio of 2.11, though the absolute debt level remains minimal relative to cash reserves. The current ratio of 2.28 indicates strong short-term liquidity, as the company holds more than twice the current assets required to cover its current liabilities. Return on equity is 28.9% and return on assets is 13.5%, metrics that reveal management's effectiveness in generating returns from shareholder capital and utilizing the company's asset base efficiently.

バリュエーション評価

The trailing P/E ratio is 18.16, while the forward P/E is 13.71. The difference between these two metrics implies that the market expects earnings growth in the future, as the forward multiple is significantly lower than the trailing multiple, suggesting anticipated expansion in profitability. The price-to-book ratio stands at 4.84, indicating that the market values the company at nearly five times its book value, which reflects a premium assigned to its intangible assets, proprietary technology, and growth prospects. The price-to-sales ratio is 2.94, and the EV/EBITDA is 9.95; these alternative valuation metrics suggest that investors are willing to pay a premium for revenue and earnings power relative to traditional book value multiples. The 52-week high is $53.80 and the 52-week low is $31.18. Without the current share price explicitly listed in the provided facts, the specific percentage deviation from the range cannot be calculated, but the wide range of $22.62 suggests considerable price volatility over the past year. The beta value is 0.67, meaning the stock's price volatility is lower than the broader market, as movements in the stock price are less sensitive than the market average.

Growth & Income

Revenue growth year-over-year is 12.8%, and earnings growth year-over-year is 10.7%. Earnings are growing slightly slower than revenue, which implies that cost of goods sold or operating expenses are increasing at a rate comparable to, or slightly faster than, top-line growth. The dividend yield is 11.3%, and the payout ratio is 68.5%, indicating that the company distributes a significant portion of its earnings to shareholders while retaining enough capital to fund operations and growth initiatives. Given the high dividend yield relative to the payout ratio, the distribution appears sustainable as long as earnings continue to grow at the reported 10.7% annual rate. The overall growth and income profile presents a hybrid characteristic of a mature company delivering substantial current income alongside moderate revenue expansion.