ITRON, INC.
ITRI · Instruments For Meas & Testing of Electricity & Elec Signals · 44.3M shares · +3%/yr ↑ shares · EDGAR filings ↗
Reference price $82.99 · est. market cap ~$3.7B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B77Profitable smart-metering and grid-technology leader with strong margins, returns, and free cash flow.
Strengths
- Net margin 12.7% (77th pct), ROE 17.5% (75th pct), ROA 8.1% (78th pct) — top-quartile returns
- FCF margin 16.2% (88th pct) with $383M FCF and over $1B cash; earnings up 26%
- Entrenched position with utilities and a long, recurring smart-grid/AMI demand cycle
Risks
- Revenue down 3.0% (22nd pct) amid lumpy, multi-year utility procurement cycles
- Component/supply-chain and tariff exposure plus single-source dependencies
Notable findings
- Strong balance sheetStrong balance sheet — $1.0B cash & investments
- Insider sellingInsider selling — 48 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$13M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
37.7%
Operating margin
13.2%
Net margin
12.7%
Return on equity
17.5%
Return on assets
8.1%
ROIC
9.9%
Revenue growth (QoQ)
2.7%
Net-income growth
25.9%
Debt / equity
0.5×
Net debt / EBITDA
-0.6×
Current ratio
1.8×
Free cash flow
$383M
EBITDA
$363M
Tangible book value
$288M
Cash & investments
$1.0B
Stock comp / revenue
2.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Marcolini John F. | Sell | 11K | $82.99 |
| 2026-05-27 | Reeves Donald L. III | Sell | 293 | $84.50 |
| 2026-05-26 | Wright David Marshall | Sell | 74 | $84.37 |
| 2026-05-26 | Deitrich Thomas | Sell | 862 | $84.37 |
| 2026-05-26 | Hooper Joan S | Sell | 442 | $84.37 |
| 2026-05-26 | Marcolini John F. | Sell | 322 | $84.37 |
| 2026-05-26 | Patrick Justin K | Sell | 216 | $84.37 |
| 2026-05-26 | Pulatie-Hahn Laurie Ann | Sell | 174 | $84.37 |
| 2026-05-26 | Reeves Donald L. III | Sell | 319 | $84.37 |
| 2026-05-26 | Ware Christopher E. | Sell | 195 | $84.37 |
| 2026-05-21 | Reeves Donald L. III | Sell | 255 | $80.88 |
| 2026-05-20 | Wright David Marshall | Sell | 57 | $79.60 |
| 2026-05-20 | Reeves Donald L. III | Sell | 277 | $79.60 |
| 2026-05-20 | Ware Christopher E. | Sell | 189 | $79.60 |
| 2026-05-20 | Deitrich Thomas | Sell | 760 | $79.60 |
| 2026-05-20 | Hooper Joan S | Sell | 355 | $79.60 |
| 2026-05-20 | Marcolini John F. | Sell | 267 | $79.60 |
| 2026-05-20 | Patrick Justin K | Sell | 206 | $79.60 |
| 2026-05-20 | Pulatie-Hahn Laurie Ann | Sell | 181 | $79.60 |
| 2026-05-11 | Pulatie-Hahn Laurie Ann | Sell | 124 | $81.59 |
| 2026-04-01 | LEYDEN TIMOTHY M | Grant | 232 | — |
| 2026-04-01 | Perez Santiago | Grant | 580 | — |
| 2026-04-01 | Savage Sheri | Grant | 580 | — |
| 2026-04-01 | JAEHNERT FRANK M | Grant | 580 | — |
| 2026-04-01 | Lande Jerome J. | Grant | 580 | — |
| 2026-04-01 | Mirchandani Sanjay | Grant | 580 | — |
| 2026-04-01 | Drury Scott D. | Grant | 580 | — |
| 2026-02-26 | Hooper Joan S | Sell | 3.5K | $95.92 |
| 2026-02-25 | Reeves Donald L. III | Sell | 220 | $97.84 |
| 2026-02-25 | Reeves Donald L. III | Sell | 299 | $97.84 |
| 2026-02-24 | Marcolini John F. | Sell | 560 | $94.81 |
| 2026-02-24 | Pulatie-Hahn Laurie Ann | Sell | 176 | $94.81 |
| 2026-02-24 | Patrick Justin K | Sell | 385 | $94.81 |
| 2026-02-24 | Deitrich Thomas | Sell | 1.8K | $94.81 |
| 2026-02-24 | Wright David Marshall | Sell | 188 | $94.81 |
| 2026-02-24 | Hooper Joan S | Sell | 962 | $94.81 |
| 2026-02-24 | Reeves Donald L. III | Sell | 544 | $94.81 |
| 2026-02-24 | Ware Christopher E. | Sell | 348 | $94.81 |
| 2026-02-23 | Reeves Donald L. III | Sell | 1.1K | $96.25 |
| 2026-02-20 | Wright David Marshall | Sell | 264 | $100.17 |
| 2026-02-20 | Pulatie-Hahn Laurie Ann | Sell | 729 | $100.17 |
| 2026-02-20 | Hooper Joan S | Sell | 1.4K | $100.17 |
| 2026-02-20 | Reeves Donald L. III | Sell | 1.1K | $100.17 |
| 2026-02-20 | Ware Christopher E. | Sell | 763 | $100.17 |
| 2026-02-20 | Deitrich Thomas | Sell | 3.1K | $100.17 |
| 2026-02-20 | Patrick Justin K | Sell | 828 | $100.17 |
| 2026-02-20 | Marcolini John F. | Sell | 1.1K | $100.17 |
| 2026-02-19 | Hooper Joan S | Sell | 15K | $99.54 |
| 2026-02-19 | Ware Christopher E. | Sell | 4.5K | $99.54 |
| 2026-02-19 | Reeves Donald L. III | Sell | 5.4K | $99.54 |
| 2026-02-19 | Pulatie-Hahn Laurie Ann | Sell | 3.8K | $99.54 |
| 2026-02-19 | Patrick Justin K | Sell | 4.9K | $99.54 |
| 2026-02-19 | Marcolini John F. | Sell | 6.9K | $99.54 |
| 2026-02-19 | Deitrich Thomas | Sell | 56K | $99.54 |
| 2026-02-18 | Deitrich Thomas | Grant | 27K | — |
| 2026-02-18 | Deitrich Thomas | Grant | 144K | — |
| 2026-02-18 | Hooper Joan S | Grant | 16K | — |
| 2026-02-18 | Hooper Joan S | Grant | 36K | — |
| 2026-02-18 | Patrick Justin K | Grant | 6.5K | — |
| 2026-02-18 | Patrick Justin K | Grant | 12K | — |
| 2026-02-18 | Pulatie-Hahn Laurie Ann | Grant | 6.3K | — |
| 2026-02-18 | Pulatie-Hahn Laurie Ann | Grant | 9.4K | — |
| 2026-02-18 | Marcolini John F. | Grant | 6.5K | — |
| 2026-02-18 | Marcolini John F. | Grant | 13K | — |
| 2026-02-18 | Reeves Donald L. III | Grant | 6.5K | — |
| 2026-02-18 | Reeves Donald L. III | Grant | 13K | — |
| 2026-02-18 | Ware Christopher E. | Grant | 6.3K | — |
| 2026-02-18 | Ware Christopher E. | Grant | 11K | — |
| 2026-02-18 | Wright David Marshall | Grant | 1.8K | — |
| 2026-02-11 | Pulatie-Hahn Laurie Ann | Sell | 142 | $105.26 |
| 2026-01-02 | LEYDEN TIMOTHY M | Grant | 220 | — |
| 2026-01-02 | Drury Scott D. | Grant | 555 | — |
| 2026-01-02 | Lande Jerome J. | Grant | 555 | — |
| 2026-01-02 | Mirchandani Sanjay | Grant | 555 | — |
| 2026-01-02 | Perez Santiago | Grant | 555 | — |
| 2026-01-02 | Savage Sheri | Grant | 555 | — |
| 2026-01-02 | JAEHNERT FRANK M | Grant | 555 | — |
| 2026-01-02 | Savage Sheri | Grant | 529 | — |
| 2026-01-02 | Perez Santiago | Grant | 529 | — |
| 2026-01-02 | Mirchandani Sanjay | Grant | 529 | — |
| 2026-01-02 | LEYDEN TIMOTHY M | Grant | 211 | — |
| 2026-01-02 | Lande Jerome J. | Grant | 529 | — |
| 2026-01-02 | JAEHNERT FRANK M | Grant | 529 | — |
| 2026-01-02 | Drury Scott D. | Grant | 529 | — |
| 2025-12-10 | Reeves Donald L. III | Sell | 223 | $96.64 |
| 2025-12-10 | Reeves Donald L. III | Sell | 303 | $96.64 |
| 2025-11-24 | Wright David Marshall | Sell | 104 | $96.51 |
| 2025-11-24 | Ware Christopher E. | Sell | 343 | $96.51 |
| 2025-11-24 | Deitrich Thomas | Sell | 1.8K | $96.51 |
| 2025-11-24 | Marcolini John F. | Sell | 553 | $96.51 |
| 2025-11-24 | Patrick Justin K | Sell | 379 | $96.51 |
| 2025-11-24 | Pulatie-Hahn Laurie Ann | Sell | 108 | $96.51 |
| 2025-11-24 | Hooper Joan S | Sell | 948 | $96.51 |
| 2025-11-24 | Reeves Donald L. III | Sell | 536 | $96.51 |
| 2025-11-11 | Pulatie-Hahn Laurie Ann | Sell | 76 | $101.09 |
| 2025-10-01 | LEYDEN TIMOTHY M | Grant | 163 | — |
| 2025-10-01 | Savage Sheri | Grant | 631 | — |
| 2025-10-01 | Perez Santiago | Grant | 408 | — |
| 2025-10-01 | Mirchandani Sanjay | Grant | 408 | — |
| 2025-10-01 | Lande Jerome J. | Grant | 408 | — |
| 2025-10-01 | Drury Scott D. | Grant | 588 | — |
| 2025-08-25 | Deitrich Thomas | Sell | 1.8K | $125.31 |
| 2025-08-25 | Hooper Joan S | Sell | 970 | $125.31 |
| 2025-08-25 | Wright David Marshall | Sell | 106 | $125.31 |
| 2025-08-25 | Ware Christopher E. | Sell | 351 | $125.31 |
| 2025-08-25 | Reeves Donald L. III | Sell | 547 | $125.31 |
| 2025-08-25 | Pulatie-Hahn Laurie Ann | Sell | 110 | $125.31 |
| 2025-08-25 | Patrick Justin K | Sell | 388 | $125.31 |
| 2025-08-25 | Marcolini John F. | Sell | 565 | $125.31 |
| 2025-08-11 | Pulatie-Hahn Laurie Ann | Sell | 78 | $124.65 |
| 2025-07-01 | Lande Jerome J. | Grant | 377 | — |
| 2025-07-01 | Mirchandani Sanjay | Grant | 377 | — |
| 2025-07-01 | Perez Santiago | Grant | 377 | — |
| 2025-07-01 | LEYDEN TIMOTHY M | Grant | 150 | — |
| 2025-06-10 | Patrick Justin K | Sell | 9.0K | $121.77 |
| 2025-06-06 | Deitrich Thomas | Option exercise | 2.5K | $40.05 |
| 2025-06-04 | Deitrich Thomas | Sell | 3.7K | $120.16 |
| 2025-06-04 | Deitrich Thomas | Option exercise | 35K | $40.05 |
| 2025-06-04 | Marcolini John F. | Sell | 6.9K | $119.50 |
| 2025-06-04 | Deitrich Thomas | Sell | 32K | $119.66 |
| 2025-06-03 | Marcolini John F. | Sell | 3.8K | $116.73 |
| 2025-06-03 | Marcolini John F. | Option exercise | 3.8K | $57.68 |
| 2025-05-27 | Hooper Joan S | Sell | 938 | $114.95 |
| 2025-05-27 | Wright David Marshall | Sell | 102 | $114.95 |
| 2025-05-27 | Ware Christopher E. | Sell | 339 | $114.95 |
| 2025-05-27 | Reeves Donald L. III | Sell | 529 | $114.95 |
| 2025-05-27 | Pulatie-Hahn Laurie Ann | Sell | 107 | $114.95 |
| 2025-05-27 | Patrick Justin K | Sell | 375 | $114.95 |
| 2025-05-27 | Marcolini John F. | Sell | 546 | $114.95 |
| 2025-05-27 | Deitrich Thomas | Sell | 1.7K | $114.95 |
| 2025-05-12 | Pulatie-Hahn Laurie Ann | Sell | 76 | $109.93 |
| 2025-05-12 | Ware Christopher E. | Sell | 416 | $109.93 |
| 2025-05-06 | Hemmingsen Mary C. | Sell | 5.2K | $108.70 |
| 2025-04-01 | Hemmingsen Mary C. | Grant | 472 | — |
| 2025-04-01 | Lande Jerome J. | Grant | 472 | — |
| 2025-04-01 | LEYDEN TIMOTHY M | Grant | 188 | — |
| 2025-04-01 | Mirchandani Sanjay | Grant | 472 | — |
| 2025-04-01 | Perez Santiago | Grant | 472 | — |
| 2025-02-27 | Hemmingsen Mary C. | Sell | 300 | $107.27 |
| 2025-02-27 | Hemmingsen Mary C. | Sell | 450 | $107.27 |
| 2025-02-25 | Wright David Marshall | Sell | 215 | $102.45 |
| 2025-02-25 | Reeves Donald L. III | Sell | 501 | $102.45 |
| 2025-02-25 | Pulatie-Hahn Laurie Ann | Sell | 273 | $102.45 |
| 2025-02-25 | Patrick Justin K | Sell | 321 | $102.45 |
| 2025-02-25 | Marcolini John F. | Sell | 642 | $102.45 |
| 2025-02-25 | Reeves Donald L. III | Sell | 4.1K | $105.00 |
| 2025-02-25 | Deitrich Thomas | Sell | 3.3K | $102.45 |
| 2025-02-25 | Hooper Joan S | Sell | 1.8K | $102.45 |
| 2025-02-25 | Ware Christopher E. | Sell | 103 | $102.45 |
| 2025-02-24 | Hooper Joan S | Sell | 2.3K | $92.90 |
| 2025-02-24 | Wright David Marshall | Sell | 317 | $92.90 |
| 2025-02-24 | Ware Christopher E. | Sell | 648 | $92.90 |
| 2025-02-24 | Reeves Donald L. III | Sell | 1.0K | $92.90 |
| 2025-02-24 | Pulatie-Hahn Laurie Ann | Sell | 484 | $92.90 |
| 2025-02-24 | Patrick Justin K | Sell | 650 | $92.90 |
| 2025-02-24 | Marcolini John F. | Sell | 1.6K | $92.90 |
| 2025-02-24 | Deitrich Thomas | Sell | 4.4K | $92.90 |
| 2025-02-20 | Hooper Joan S | Sell | 9.2K | $97.28 |
| 2025-02-20 | Reeves Donald L. III | Sell | 2.4K | $97.28 |
| 2025-02-20 | Patrick Justin K | Sell | 1.6K | $97.28 |
| 2025-02-20 | Marcolini John F. | Sell | 3.4K | $97.28 |
| 2025-02-20 | Deitrich Thomas | Sell | 28K | $97.28 |
| 2025-02-19 | Deitrich Thomas | Grant | 24K | — |
| 2025-02-19 | Wright David Marshall | Grant | 1.8K | — |
| 2025-02-19 | Ware Christopher E. | Grant | 5.9K | — |
| 2025-02-19 | Reeves Donald L. III | Grant | 6.5K | — |
| 2025-02-19 | Reeves Donald L. III | Grant | 6.4K | — |
| 2025-02-19 | Pulatie-Hahn Laurie Ann | Grant | 5.6K | — |
| 2025-02-19 | Patrick Justin K | Grant | 6.5K | — |
| 2025-02-19 | Patrick Justin K | Grant | 6.4K | — |
| 2025-02-19 | Marcolini John F. | Grant | 6.5K | — |
| 2025-02-19 | Marcolini John F. | Grant | 6.4K | — |
| 2025-02-19 | Hooper Joan S | Grant | 22K | — |
| 2025-02-19 | Hooper Joan S | Grant | 10K | — |
| 2025-02-19 | Deitrich Thomas | Grant | 72K | — |
| 2025-02-11 | Pulatie-Hahn Laurie Ann | Sell | 96 | $103.44 |
| 2025-01-03 | Deitrich Thomas | Option exercise | 35K | $35.13 |
| 2025-01-03 | Deitrich Thomas | Sell | 35K | $110.20 |
| 2025-01-02 | Perez Santiago | Grant | 460 | — |
| 2025-01-02 | Deitrich Thomas | Option exercise | 3.0K | $35.13 |
| 2025-01-02 | Hemmingsen Mary C. | Grant | 460 | — |
| 2025-01-02 | Mirchandani Sanjay | Grant | 460 | — |
| 2025-01-02 | LEYDEN TIMOTHY M | Grant | 184 | — |
| 2025-01-02 | Lande Jerome J. | Grant | 460 | — |
| 2025-01-02 | Deitrich Thomas | Sell | 3.0K | $110.11 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-08 | Shareholder voteOther | filing ↗ |
| 2026-05-01 | Other | filing ↗ |
| 2026-04-28 | ResultsExhibits | filing ↗ |
| 2026-04-24 | Other | filing ↗ |
| 2026-02-26 | Material agreementDebt obligation3.02OtherExhibits | filing ↗ |
| 2026-02-17 | ResultsExhibits | filing ↗ |
| 2025-11-17 | Material agreementReg FDExhibits | filing ↗ |
| 2025-11-10 | Other | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-08 | 2026-05-06 | 0000780571-26-000116 ↗ |
| 8-K/A | 2026-05-01 | 2026-04-13 | 0001193125-26-199316 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001171843-26-002750 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0000780571-26-000110 ↗ |
| 8-K | 2026-04-24 | 2026-04-13 | 0001193125-26-175249 ↗ |
| 8-K | 2026-02-26 | 2026-02-23 | 0001193125-26-076749 ↗ |
| 10-K | 2026-02-17 | 2025-12-31 | 0000780571-26-000033 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001171843-26-000850 ↗ |
| 8-K | 2025-11-17 | 2025-11-14 | 0001171843-25-007373 ↗ |
| 8-K | 2025-11-10 | 2025-11-07 | 0000780571-25-000076 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001171843-25-006801 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0000780571-25-000074 ↗ |