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Italian maker of commercial trucks, buses, defense vehicles and powertrains, spun off from CNH Industrial.
Italian maker of commercial trucks, buses, defense vehicles and powertrains, spun off from CNH Industrial.
Sells trucks, vans and buses through dealers and earns recurring income from parts, repairs and financing for fleets, with engine sales to other vehicle makers as a separate line. Orders swing with the freight cycle and with the timing of fleet replacement.
In one line: A European PACCAR/Navistar.
Moat: narrow (installed base, distribution, scale). Established European dealer/service network and defense contracts, in an otherwise competitive truck market.
Headquarters: Turin, Italy · Founded: 2022 · Employees: 35,453
Size Iveco (IVG.MI) is an Italy Consumer Discretionary company (Motor Vehicles) with a market value of $5.55B, the 42nd largest of 123 Italy companies the cockpit tracks. Shares closed at €14.35 on 6 Nov 2026.
Performance Over six months the shares gained 3.0%, against -21.5% for the median peer and +3.1% for the Italy market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 5.1% over the last twelve months (peer median +15.8%); the operating margin is 2.6% (peer median 2.2%).
Valuation It trades at 12.7× forward earnings against a peer median of 16.0× (7th cheapest of 15).
Capital Return on invested capital runs 6.5 points below its cost of capital (10.5% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €13.7B | €13.4B | €14.4B | €16.0B | €14.4B |
| Revenue growth | — | -7% | -10% | +11% | — |
| Gross profit | €1.78B | €2.12B | €2.48B | €2.73B | €2.00B |
| EBITDA | €1.07B | €1.44B | €1.62B | €1.72B | €1.15B |
| Net income | €1.27B | €289M | €349M | €218M | €147M |
| Free cash flow | -€168M | €849M | €1.36B | €375M | €630M |
| Capital expenditure | €397M | €775M | €925M | €961M | €777M |
| Total debt | €5.76B | €6.06B | €6.31B | €6.10B | €4.43B |
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 |
|---|---|---|---|---|---|---|
| Iveco IVG.MI | $5.55B | +3% | -5% | 3% | 12.7× | n/a |
| Volvo VOLV-A.ST | $65.2B | -1% | -3% | 12% | 14.7× | 5.4% |
| Daimler Truck DTG.DE | $34.7B | -1% | -14% | 5% | 10.6× | 9.8% |
| Traton 8TRA.DE | $18.9B | +2% | +1% | 6% | 6.1× | n/a |
| Paccar PCAR | $53.7B | -11% | -1% | 11% | 15.4× | 11.2% |
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 | IVG.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.2% | -1.3% | 9th highest of 21 |
| 6-month return | +3.0% | -21.5% | 5th highest of 21 |
| Distance from 52-week high | -27.2% | -37.8% | 9th highest of 21 |
| Revenue growth (TTM) | -5.1% | +15.8% | 3rd lowest of 21 |
| Operating margin | 2.6% | 2.2% | 10th highest of 21 |
| Forward P/E | 12.7× | 16.0× | 7th cheapest of 15 |
| ROIC minus cost of capital | -6.5 pp | -2.9 pp | 7th lowest of 18 |
| EV / EBITDA | 8.4× | 6.8× | 3rd most expensive of 8 |
| Net debt / EBITDA | 3.7× | 0.6× | 2nd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Iveco IVG.MI | Italy | $5.55B | +3% | -5% | 3% | 12.7× | n/a | n/a |
| Nissan Motor 7201.T | Japan | $5.98B | -24% | -1% | 2% | 23.1× | n/a | n/a |
| ARCHION 543A.T | Japan | $5.11B | -9% | +9% | 5% | 2.4× | 7.4% | +0.9% |
| Loncin Motor 603766.SS | China | $4.97B | +5% | +2% | 9% | 15.9× | -5.5% | +12.7% |
| Guangzhou Automobile 601238.SS | China | $6.22B | -32% | +5% | -18% | n/a | n/a | n/a |
| Chongqing Afari Technology 601777.SS | China | $4.94B | -35% | +17% | -11% | 208.0× | n/a | n/a |
| Zhejiang Leapmotor Technology 9863.HK | Hong Kong | $6.34B | -25% | +71% | -1% | 16.1× | -14.5% | +150.7% |
| Mazda Motor 7261.T | Japan | $4.52B | +12% | +4% | 3% | 6.9× | -14.8% | +11.3% |
| Federal Signal FSS | United States | $6.92B | -4% | +24% | 17% | 20.1× | 11.8% | +14.0% |
| Zhejiang CFMoto Power 603129.SS | China | $7.23B | +16% | +40% | 11% | 19.9× | -3.9% | +34.5% |
| Jardine Cycle & Carriage C07.SI | Singapore | $7.36B | -28% | -11% | 10% | 8.2× | -7.8% | +8.9% |
| FAW Jiefang 000800.SZ | China | $4.11B | -17% | +22% | -1% | 29.5× | n/a | n/a |
| Ather Energy ATHERENERG.NS | India | $7.57B | +101% | +63% | -7% | n/a | n/a | n/a |
| VinFast Auto VFS | United States | $7.60B | -25% | +74% | -86% | n/a | n/a | n/a |
| NIO 9866.HK | Hong Kong | $7.60B | -46% | +70% | -4% | n/a | n/a | n/a |
| BAIC BluePark New Energy Technology 600733.SS | China | $4.02B | -41% | +54% | -19% | n/a | n/a | n/a |
| Oshkosh OSK | United States | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% | +8.7% |
| Volvo Car VOLCAR-B.ST | Sweden | $3.63B | -45% | -17% | 0% | n/a | n/a | n/a |
| Sinotruk Jinan Truck 000951.SZ | China | $3.46B | -10% | +36% | 4% | 11.2× | -5.8% | -0.8% |
| Minth 0425.HK | Hong Kong | $3.45B | -37% | +14% | 11% | 7.5× | 2.7% | +14.8% |
| Porsche Automobil Holding SE Pref PAH3.DE | Germany | $8.98B | -19% | +13% | 108% | 33.4× | 9.4% | +2.4% |