Added to YB: 2026-10-07
Pitch date: 2026-10-02
ITD.MI [bullish]
Intred S.p.A.
+1.14%
current return
Author Info
I hunt patiently for 100-baggers in the realm from small to mid-cap preferably for underfollowed companies. The goal is to find asymmetric bets, with high upside, limited downside and always exposed to additional outsized optionality. Sign up for the newsletter.
Company Info
Intred S.p.A., a telecommunications operator, provides data and voice services in Italy. The company offers broadband, ultra-broadband, wireless, landline telephony FWA connectivity, and cloud services, as well as ancillary and data center services.
Market Cap
EUR 142.0M
Pitch Price
EUR 8.80
Price Target
30.00 (+237%)
Dividend
1.34%
EV/EBITDA
7.10
P/E
17.26
EV/Sales
3.20
Sector
Diversified Telecommunication Services
Category
value
The biweekly - new stock pitch - Intred S.p.A.
ITD.MI (monitor): Intred owns a 15,000-km fiber network serving 57,000 customers in Lombardy; 96% of revenue is recurring or prepaid and FY25 EBITDA margin was 45.8%. At €8.80, it trades at 6.7x FY26e EV/EBITDA; capex normalization could bring distributable cash around 2029, but FCF is negative in 2027 and thin in 2028. The founder reportedly rejected €18/share and would consider closer to €30; he controls 60%, there is no succession plan, and public tenders and heavy capex carry integrity risk.
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