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Employees: 887
Size SECO (IOT.MI) is an Italy Information Technology company (Computer Processing Hardware) with a market value of $634M, the 100th largest of 123 Italy companies the cockpit tracks. Shares closed at €4.25 on 6 Nov 2026.
Performance Over six months the shares gained 64.7%, against -18.8% for the median peer and +3.1% for the Italy market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +8.9%); the operating margin is 3.4% (peer median 10.4%).
Valuation It trades at 45.5× forward earnings against a peer median of 15.7× (most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 44% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is +23 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.2 points below its cost of capital (10.4% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €198M | €198M | €184M | €210M | €201M |
| Revenue growth | — | +8% | -13% | +4% | — |
| Gross profit | €5.99M | €34.6M | €15.4M | €52.7M | €42.7M |
| EBITDA | €31.8M | €32.0M | €11.9M | €43.4M | €36.7M |
| Net income | -€3.40M | -€2.69M | -€21.0M | €11.9M | €11.0M |
| Free cash flow | €19.7M | €25.7M | €29.8M | €22.7M | €2.79M |
| Capital expenditure | €32.6M | €26.2M | €20.5M | €19.7M | €18.3M |
| Total debt | €120M | €116M | €125M | €140M | €168M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IOT.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.2% | -9.0% | 6th highest of 21 |
| 6-month return | +64.7% | -18.8% | 2nd highest of 20 |
| Distance from 52-week high | -12.6% | -45.5% | 5th highest of 21 |
| Revenue growth (TTM) | +6.1% | +8.9% | 9th lowest of 20 |
| Operating margin | 3.4% | 10.4% | 8th lowest of 20 |
| Forward P/E | 45.5× | 15.7× | most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 43.7% | 3.8% | most demanding of 11 |
| Growth delivered (Del g) | +21.0% | +10.9% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | +22.7 pp | -9.8 pp | most demanding of 11 |
| ROIC minus cost of capital | -9.2 pp | +2.2 pp | 5th lowest of 20 |
| EV / EBITDA | 20.4× | 17.9× | 3rd most expensive of 8 |
| Net debt / EBITDA | 1.8× | -0.6× | 3rd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SECO IOT.MI | Italy | $634M | +65% | +6% | 3% | 45.5× | 43.7% | +21.0% |
| Jiangxi Firstar Panel Technology 300256.SZ | China | $631M | -25% | -13% | -12% | n/a | n/a | n/a |
| Fujian Start 600734.SS | China | $591M | -19% | -71% | -90% | n/a | n/a | n/a |
| Clevo 2362.TW | Taiwan | $705M | +5% | -9% | 6% | n/a | n/a | n/a |
| Toukei Computer 4746.T | Japan | $790M | +74% | +5% | 29% | n/a | 2.6% | +5.6% |
| Emdoor Information 001314.SZ | China | $791M | -26% | +74% | 3% | 17.5× | n/a | n/a |
| Jess-Link Products 6197.TW | Taiwan | $814M | -10% | +21% | 22% | 15.7× | 6.1% | +16.2% |
| Flytech Technology 6206.TW | Taiwan | $493M | +3% | +12% | 27% | 10.1× | -10.1% | +2.6% |
| QNAP Systems 7805.TWO | Taiwan | $477M | -42% | +9% | 25% | n/a | -9.6% | +3.4% |
| Guiyang Longmaster Information & Technology 300288.SZ | China | $474M | -25% | -15% | -17% | n/a | n/a | n/a |
| JBCC 9889.T | Japan | $852M | +61% | +9% | 10% | 18.6× | -4.7% | +4.8% |
| Zkteco 301330.SZ | China | $876M | -19% | +24% | 11% | n/a | 7.2% | +3.4% |
| PAX Global Technology 0327.HK | Hong Kong | $444M | -21% | +10% | 16% | 4.0× | n/a | n/a |
| Pasqal PSQL | United States | $923M | n/a | n/a | n/a | n/a | n/a | n/a |
| 2crsi AL2SI.PA | France | $402M | -57% | +75% | -45% | 6.0× | n/a | n/a |
| HuangShan Googe 301581.SZ | China | $400M | -34% | +17% | 1% | n/a | n/a | n/a |
| Synthesis Electronic Technology 300479.SZ | China | $397M | -22% | -5% | 4% | n/a | 19.7% | +19.1% |
| Elma Electronic ELMN.SW | Switzerland | $370M | +23% | -9% | 2% | n/a | n/a | n/a |
| Posiflex Technology 8114.TW | Taiwan | $347M | -16% | -18% | 18% | 7.2× | -21.6% | +17.5% |
| MilDef MILDEF.ST | Sweden | $1.17B | +54% | +76% | 17% | 31.2× | 5.1% | +38.7% |
| Concurrent Technologies CNC.L | United Kingdom | $336M | +7% | +8% | 15% | 37.1× | 38.2% | +16.8% |