Itron, Inc. income statement ITRI

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Itron, Inc. reported revenue of $2.4 billion, down 3.0% from the year before. Net income was $301.1 million, a profit margin of 12.7%. Operating income came to $313.1 million, an operating margin of 13.2%. Diluted earnings per share were $6.50. Over the twelve months ended Sep 30, 2026, revenue was $2.3 billion and net income was $279.7 million. Across the 10 fiscal years shown, revenue grew from $2.0 billion in fiscal 2016 to $2.4 billion in fiscal 2025, about 1.8% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	2,321 -3.6%	2,367 -3.0%	2,441 +12.3%	2,174 +21.1%	1,796 -9.4%	1,982 -8.8%	2,173 -13.2%	2,502 +5.3%	2,376 +17.7%	2,018 +0.2%	2,013 +6.9%
Cost of revenue	1,377 -10.2%	1,475 -7.9%	1,602 +9.7%	1,460 +14.6%	1,273 -9.6%	1,408 -10.4%	1,571 -10.2%	1,750 +6.3%	1,646 +22.7%	1,341 -0.7%	1,351 +1.8%
Gross profit	944 +7.9%	892 +6.3%	839 +17.6%	714 +36.7%	522 -8.9%	573 -4.8%	602 -20.0%	752 +3.0%	730 +7.9%	677 +2.1%	663 +19.0%
Research and development	221 +4.2%	207 -3.7%	215 +3.0%	209 +12.7%	185 -6.2%	197 +1.6%	194 -4.0%	202 -2.7%	208 +22.7%	169 +1.0%	168 +3.3%
Selling, general and administrative	374 +9.3%	353 +4.1%	339 +8.4%	313 +7.7%	290 -3.3%	301 +8.5%	277 -20.2%	347 -18.0%	423 +29.6%	327 +1.5%	322 +1.5%
Restructuring and impairment	—	1 -65.2%	3 -93.9%	44 +422.9%	-14 -124.9%	55 +47.6%	37 +489.6%	6 -91.9%	77 +1102.6%	6 -86.9%	49 +775.9%
Operating income	318 +6.9%	313 +18.5%	264 +104.9%	129 +1832.3%	-7 +90.6%	-79 -662.9%	-10 -107.8%	133 +367.0%	-50 -132.1%	155 +53.4%	101 +91.1%
Interest income	—	48 +39.9%	35 +271.2%	9 +253.7%	3 +69.1%	2 -48.1%	3 +62.1%	2 -14.1%	2 +1.3%	2 +145.8%	1 +13.7%
Interest expense	23	22 +46.0%	15	—	—	—	—	—	—	—	—
Other non-operating income (expense)	6 +193.5%	3 +167.7%	1 +150.0%	-2 +41.9%	-4 +75.8%	-17 -232.6%	-5 +42.1%	-9 -165.4%	-3 +60.3%	-9 -131.3%	-4 +12.0%
Pretax income	330 +1.2%	342 +20.3%	285 +123.4%	127 +909.2%	-16 +87.3%	-124 -118.6%	-57 -177.6%	73 +166.9%	-109 -181.1%	135 +59.0%	85 +128.1%
Income tax	49 -27.5%	39 -10.3%	43 +49.3%	29 +569.1%	-6 +86.4%	-46 -19222.7%	0 -98.8%	21 +264.0%	-13 -116.9%	74 +49.9%	50 +124.3%
Net income	280 +8.6%	301 +25.9%	239 +146.7%	97 +1095.9%	-10 +88.0%	-81 -40.2%	-58 -218.3%	49 +149.4%	-99 -273.2%	57 +80.4%	32 +150.6%
Basic EPS	6.29 +11.0%	6.62 +25.6%	5.27 +147.4%	2.13 +1068.2%	-0.22 +88.0%	-1.83 -27.1%	-1.44 -216.1%	1.24 +149.0%	-2.53 -270.9%	1.48 +78.3%	0.83 +151.5%
Diluted EPS	6.20 +11.4%	6.50 +25.5%	5.18 +145.5%	2.11 +1059.1%	-0.22 +88.0%	-1.83 -27.1%	-1.44 -217.1%	1.23 +148.6%	-2.53 -274.5%	1.45 +76.8%	0.82 +148.5%
Weighted average shares, basic	44 -2.2%	45 +0.3%	45 -0.1%	45 +0.7%	45 +1.8%	44 +10.1%	40 +1.8%	40 +0.8%	39 +1.5%	39 +1.2%	38 -0.0%
Weighted average shares, diluted	45 -2.5%	46 +0.3%	46 +0.8%	46 +1.6%	45 +1.8%	44 +10.1%	40 +0.7%	40 +1.9%	39 -0.4%	39 +1.9%	39 +0.4%
Other measures
Depreciation and amortization	69 +33.7%	50 -12.0%	56 +0.9%	56 -16.5%	67 -20.7%	84 -13.5%	97 -15.0%	114 -6.6%	122 +93.8%	63 -7.5%	68 -10.1%
EBITDA	387 +10.9%	363 +13.2%	320 +73.5%	185 +211.2%	59 +1122.2%	5 -94.4%	87 -64.8%	247 +239.4%	73 -66.6%	218 +28.8%	169 +31.4%
Interest coverage	13.82x	13.94x	17.17x	—	—	—	—	—	—	—	—
Margins
Gross margin	40.66%	37.69%	34.39%	32.84%	29.08%	28.92%	27.71%	30.06%	30.74%	33.53%	32.91%
Operating margin	13.69%	13.23%	10.82%	5.93%	-0.41%	-4.00%	-0.48%	5.30%	-2.09%	7.67%	5.02%
Pretax margin	14.23%	14.46%	11.66%	5.86%	-0.88%	-6.25%	-2.61%	2.92%	-4.59%	6.67%	4.20%
Profit margin	12.05%	12.72%	9.80%	4.46%	-0.54%	-4.10%	-2.67%	1.96%	-4.18%	2.84%	1.58%
EBITDA margin	16.66%	15.32%	13.13%	8.49%	3.30%	0.24%	4.00%	9.87%	3.06%	10.81%	8.41%
Effective tax rate	14.80%	11.37%	15.26%	22.82%	—	—	—	28.23%	—	55.23%	58.58%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

New to this? Read How to Read an Income Statement, With a Real Example.

Company profile

Industry: Instruments For Meas & Testing of Electricity & Elec Signals (SIC 3825)
Listed as: ITRI (Nasdaq)
Fiscal year ends: December 31
Incorporated in: WA
Headquarters: Liberty Lake, WA
SEC filer status: Large accelerated filer
SEC CIK: 780571
Former names: ITRON INC /WA/ (until Jul 3, 2019)

Other Instruments For Meas & Testing of Electricity & Elec Signals companies

All 11 Instruments For Meas & Testing of Electricity & Elec Signals companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.