At a P/E of 13.7 and a price-to-free-cash-flow of 9.9, Itron (ITRI) trades below a two-stage DCF intrinsic value of about $418.46 per share, so at $85.99 the stock looks undervalued (386.6% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Itron scores 75/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.