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World's largest fast-fashion retailer (Zara, Bershka, Pull&Bear, Massimo Dutti), designing and selling apparel through stores and e-commerce globally.
World's largest fast-fashion retailer (Zara, Bershka, Pull&Bear, Massimo Dutti), designing and selling apparel through stores and e-commerce globally.
Sells mostly through its own stores and online rather than wholesalers, and keeps discounting low because it makes small batches and re-orders quickly according to what sells. Much production is near home, in Spain, Portugal, Morocco and Turkey. Founder Amancio Ortega remains the largest shareholder.
Moat: narrow (scale, brand, distribution). Rapid design-to-shelf cycle and global store/logistics scale give a speed advantage over most apparel peers.
Headquarters: Arteixo, Spain · Founded: 1975 · Employees: 163,047
Size Industria de Diseno Textil (ITX.MC) is a Spain Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $206B, the largest of 97 Spain companies the cockpit tracks. Shares closed at €59.04 on 6 Nov 2026.
Performance Over six months the shares gained 19.9%, against +8.3% for the median peer and +8.2% for the Spain market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +10.9%); the operating margin is 20.3% (peer median 11.4%).
Valuation It trades at 27.3× forward earnings against a peer median of 20.5× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +1 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 35.6 points above its cost of capital (10.4% WACC).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €41.3B | €39.9B | €38.6B | €35.9B | €32.6B |
| Revenue growth | — | +3% | +7% | +10% | — |
| Gross profit | €20.7B | €20.1B | €19.3B | €17.9B | €15.8B |
| EBITDA | €11.8B | €11.3B | €10.8B | €9.91B | €8.72B |
| Net income | €6.41B | €6.22B | €5.87B | €5.38B | €4.13B |
| Free cash flow | n/a | €7.04B | €7.08B | €7.27B | €5.65B |
| Capital expenditure | n/a | €2.72B | €2.68B | €1.89B | €1.43B |
| Total debt | €6.20B | €5.93B | €5.73B | €5.57B | €5.45B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Industria de Diseno Textil ITX.MC | $206B | +20% | +6% | 20% | 27.3× | 15.3% |
| H&M Hennes & Mauritz HM-B.ST | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% |
| Fast Retailing 9983.T | $155B | +6% | +17% | 18% | 41.2× | 23.8% |
| Next NXT.L | $23.8B | +24% | +13% | 19% | 18.8× | 12.5% |
| Associated British Foods ABF.L | $18.7B | +11% | +1% | 7% | 13.5× | 7.8% |
| Gap GAP | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% |
| Zalando ZAL.DE | $7.64B | +42% | +18% | 4% | 19.6× | 7.6% |
| Marks and Spencer MKS.L | $12.1B | +40% | +21% | 5% | 13.1× | 6.5% |
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 | ITX.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.7% | +6.1% | 7th highest of 21 |
| 6-month return | +19.9% | +8.3% | 6th highest of 21 |
| Distance from 52-week high | -2.6% | -11.3% | 4th highest of 21 |
| Revenue growth (TTM) | +6.0% | +10.9% | 6th lowest of 21 |
| Operating margin | 20.3% | 11.4% | 2nd highest of 21 |
| Forward P/E | 27.3× | 20.5× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 15.3% | 11.0% | 9th most demanding of 20 |
| Growth delivered (Del g) | +14.3% | +13.2% | 9th highest of 20 |
| Hurdle (Req g minus delivered) | +1.0 pp | -4.5 pp | 7th most demanding of 20 |
| ROIC minus cost of capital | +35.6 pp | +6.0 pp | highest of 21 |
| EV / EBITDA | 15.3× | 13.7× | 8th most expensive of 20 |
| Net debt / EBITDA | -0.4× | 0.9× | 2nd least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Industria de Diseno Textil ITX.MC | Spain | $206B | +20% | +6% | 20% | 27.3× | 15.3% | +14.3% |
| Fast Retailing 9983.T | Japan | $155B | +6% | +17% | 18% | 41.2× | 23.8% | +13.2% |
| TJX Companies TJX | United States | $149B | -11% | +8% | 12% | 25.1× | 3.7% | +13.4% |
| Ross Stores ROST | United States | $73.8B | +3% | +14% | 13% | 27.0× | 11.0% | +12.7% |
| H&M Hennes & Mauritz HM-B.ST | Sweden | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% | +4.1% |
| Tapestry TPR | United States | $26.4B | 0% | +14% | 24% | 15.8× | 9.0% | +6.9% |
| Trent TRENT.NS | India | $17.4B | +8% | +18% | 12% | 75.1× | 60.1% | +50.6% |
| Allegro.eu ALE.WA | Poland | $15.5B | +97% | +8% | 20% | 30.8× | 22.1% | +23.4% |
| Burlington Stores BURL | United States | $15.5B | -19% | +11% | 8% | 20.5× | 18.2% | +14.9% |
| Lpp LPP.WA | Poland | $13.0B | +36% | +15% | 13% | 17.4× | 17.5% | +24.1% |
| Aritzia ATZ.TO | Canada | $12.5B | +9% | +40% | 16% | 27.1× | 22.0% | +34.0% |
| Meesho MEESHO.NS | India | $11.4B | +17% | +34% | -9% | n/a | n/a | n/a |
| Victoria's Secret & VSXY | United States | $8.62B | +125% | +10% | 8% | 21.4× | 20.0% | +3.9% |
| Gap GAP | United States | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% | +2.2% |
| Urban Outfitters URBN | United States | $7.26B | +18% | +11% | 10% | 13.1× | 6.9% | +12.3% |
| Abercrombie & Fitch ANF | United States | $6.35B | +57% | +5% | 14% | 12.1× | -2.7% | +11.0% |
| JD Sports Fashion JD..L | United Kingdom | $6.03B | +37% | +2% | 7% | 9.0× | 1.4% | +15.5% |
| SHIMAMURA 8227.T | Japan | $4.69B | +2% | +5% | 9% | 14.3× | -9.9% | +5.2% |
| Vishal Mega Mart VMM.NS | India | $4.67B | -25% | +18% | 9% | 43.8× | 32.3% | +19.4% |
| Boot Barn BOOT | United States | $3.92B | -20% | +17% | 14% | 14.6× | 14.3% | +20.3% |
| American Eagle Outfitters AEO | United States | $3.34B | +19% | +8% | 9% | 11.1× | 0.9% | +8.1% |