Itron, Inc. provides metering solutions to electricity, gas, and water utility markets worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and advanced and smart electricity, gas, and water meters and communication modules. The company also provides prepayment systems, including smart key, keypad, and smart card communication technologies; advanced systems, such as handheld, mobile, and fixed network collection technologies; smart network technologies; meter data management software; and knowledge application solutions. In addition, it offers installation and software implementation; professional services comprising consulting and analysis; and project management and post-sale maintenance support services. The company offers its standard metering systems to measure electricity, natural gas, water, or thermal energy; advanced metering systems to collect, store, and transmit meter data to handheld computers, mobile units, and fixed networks; and smart metering systems to collect and transmit meter data for supporting various applications. Itron, Inc. markets its products directly through its sales force, as well as through indirect sales force consisting of distributors, sales representatives, partners, and meter manufacturer representatives to utilities. The company was founded in 1977 and is headquartered in Liberty Lake, Washington.
(Summary) (Company) (Chart)
27 November 2016
1yr Target $61.80
Payout Ratio ---
1yr Cap Gain -4.71%
1yr Tot Return -4.71%
EPS (ttm) $0.76
EPS next yr $2.91
Forward P/E 22.29
EPS next 5yr 23.00%
1yr Price Support $66.93
Market Cap $2,48 Bil
Revenues $2.01 Bil
Earnings $29.40 Mil
Profit Margin 1.44%
Quick Ratio 1.30
Current Ratio 1.70
1yr RevGR -3.29%
3yr RevGR -4.69%
5yr RevGR -3.58%
1yr EarnGR N/A
3yr EarnGR -50.09%
5yr EarnGR -33.62%
1yr DivGR ---
3yr DivGR ---
5yr DivGR ---
Itron was founded by a small group of engineers trying to find more efficient ways to read meters in Hauser Lake, Idaho, in 1977. In 1984, Itron experienced global expansion into the Asian market and developed new manufacturing plants in France and the U.K. By 2006, Itron consulting teams were created to offer services for energy efficiency programs, renewables, conservation and demand response. Itron gained national recognition from the White House in 2010, for its commitment to U.S.-based manufacturing and contributions to a clean energy economy. Within the same year, Itron and Cisco formed an alliance to deliver Internet Protocol (IP) communications to the smart grid market thus changing networking capabilities for utilities. Itron is a founding member of the Smart Cities Council, having joined in 2013. Itron is also a partner of Microsoft CityNext helping with global Smart City initiatives. After developing Itron OpenWay Riva adaptive communications technology (ACT), Itron launched the Itron Riva Developers Community for the Internet of Things, for developers interested in developing software applications for the IoT space.
- 2012 - Itron acquires SmartSynch, cellular communications and also acquires C&N GasGate Technology for enhanced smart gas distribution systems.
- 2007 - Itron expands global footprint and both gas and water metering products are added to product portfolio. Itron acquires Actaris Metering Systems.
- 2004 – Itron acquires Schlumberger Electricity Metering.
- 2002 - Itron acquires software solutions for distributed system design, field workforce management and energy forecasting.
- 1996 - Itron acquires UTS, bringing MV-90 metering software application to its product portfolio.
- 1995 - AEG Meters are acquired with production sites in Italy, Germany, Spain & South Africa.
- 1993 – Itron acquires two German companies, Heliowatt and Danyl.
- 1989 - Itron acquires a number of metering companies including, Thorn Emi Gas Metering in the U.K. and Bosco Spa in Italy.
- 1987 – Itron acquires Allmess Congermania and Conteuro Rigas in Europe, as well as two U.S. companies for gas and water meter technology, Sprague and Neptune, respectfully.
Various utilities have worked with Itron to deploy smart meters, advanced communications technology, analytics software and other resource management solutions. Below are some of the utilities that have worked and partnered with Itron for smart meter projects.
- North America: CenterPoint Energy; Southern California Edison; BC Hydro; FirstEnergy; DTE Energy; San Diego Gas & Electric; Cleveland Water; Sacramento Municipal Utility District; Glendale Water and Power; Rancho California Water District; Los Angeles Department of Water and Power (LADWP).
- Europe, Middle East & Africa: EDF Energy; Gaz reseau Distribution France (GrDF); Yorkshire Water; Italgas; Malta Water Services Corporation; State Oil Company of Azerbaijan (SOCAR); Aguas de Valencia; Linea Distribuzione, Stadtnetze Neustadt and Stadtwerke Garbsen.
- Asia Pacific & Australia: Powercor; CitiPower; PT Perusahaan Listrik Negara (PLN); Hong Kong Water; Sydney Water; Mitsubishi Electric Corporation; Tonga Power Limited (TPL).
- South America: Iberdrola; Dominican Corporation of State Electricity Companies; NAMC Algeria; CPFL Energia; Eletrobras; ELO Sistemas Eletrônicos (ELO).
My Path Forward
I'm very much interested in this area of the Internet of Things (IoT). I believe we're in the infancy of the next wave of the internet in which things get connected instead of people. It's a future where machines become interconnected to operate autonomously to make the world more friendly for humans. As a result I'm interested in both Silver Springs Network as well as Itron. But despite this expected bright future, the shares of these companies currently are somewhat expensive. So for right now, these two companies are going on my watch list for accumulation at a better price level.