Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Industrie De Nora S.p.A. is an Italian multinational company headquartered in Milan, specializing in electrochemical technologies as the world's leading supplier of electrodes for major industrial processes. Founded in 1923 by engineer Oronzio De Nora, it provides advanced coated electrodes, coatings, and complete solutions across three core divisions: Electrode Technologies for sectors like chlor-alkali, electronics, mining, and metal recovery; Water Technologies for municipal and industrial water treatment, including filtration and ozone generation; and Energy Transition focused on green hydrogen production and circular economy initiatives. With over 2,000 professionals, 14 manufacturing facilities, 5 R&D centers in Italy, the US, and Japan, and presence in more than 100 markets across the Americas, Europe, Middle East, and Asia, the company drives sustainable innovation protected by 278 patent families. Listed on the Euronext Milan stock exchange since 2022, Industrie De Nora S.p.A. supports industries' decarbonization and clean water goals through reliable, efficient technologies, reporting €862.6 million in FY 2024 revenues. Its global footprint and century-long expertise position it as a key enabler in electrochemical processes, water management, and the shift to renewable energy.
13.93% operating margin is respectable but not wide. ROIC at 8.02%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 1.4%, essentially flat. This is a business that needs a catalyst.
Insufficient data to identify specific risks. Treat any missing metrics as a data gap, not a clean bill of health.
Profitability & Returns
Revenue (TTM)
€853M
▲ +1.4% YoY
Net Income (TTM)
€85M
▼ -0.7% YoY
Op. Margin
14.47%
▲ +1.9pp YoY
ROIC
8.02%
▲ +1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€3M
▼ -5.6% YoY
Op. Cash Flow (TTM)
€14M
▼ -10.8% YoY
Net Debt
-€72M
Net Cash Position
Cash & Equiv.
€109M
3Y CAGR: +0.9%
3Y CAGR: -12.9%
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