Reply REY.MI
ItalyTechnology · Information Technology ServicesBorsa Italiana · EUR
153.36 EUR (+21.9%)
11 analysts
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Reply is an Italian technology consultancy offering systems integration, consulting, and digital solutions, focused on the digital transformation of large enterprises.
Listed on Borsa Italiana · Symbol REY.MI · BIT: REY · Currency EUR
Key points
from its scores- ✓Attractive valuation7.8
- ✓Very solid balance sheet7.6
- ✕Weak growth4.2
- !Modest dividend5.0
- !Risks to watch5.1
AI analysis
bottom line, main risk, context and newsThe quality of the business and the clean balance sheet offset the recent earnings decline, but the valuation does not offer a sufficient margin of safety to buy.
Reply shows solid financial health with net cash (ND/EBITDA of -0.92) and high return on invested capital (ROIC of 23.68%), although its earnings growth has contracted by 13.6% and its valuation, with a P/E of 22.83, already discounts part of its quality.
The main risk is the slowdown in earnings growth (-13.6%), which could indicate a deterioration in demand for technology consulting services or margin pressure, affecting its current multiple.
Context and risks
Reply operates in Italy, a country with elevated governance risk and weaker minority shareholder protection than in benchmark developed markets. Although its business is global and IT services, its headquarters and part of its corporate structure are exposed to this jurisdiction, which justifies a moderate penalty on the base risk.
Is Reply stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 40% below the Technology median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 22.8 | 31.3 | −27% |
| EV / EBITDA | 9.7 | 20.4 | −53% |
| Price / book | 3.0 | 6.3 | −52% |
| Price / sales | 1.8 | 5.3 | −66% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.8 out of 10 (median for Technology: 5.3).
Average analyst target: 153.36 EUR, +21.9% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 7.6 (sector 6.9), Growth 4.2 (sector 7.5).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 22.8
- Forward P/E
- 15.1
- EV / EBITDA
- 9.7
- Price / book
- 3.0
- Price / sales
- 1.8
- Market cap
- 4.6B EUR
- Enterprise value
- 4.2B EUR
Profitability
- ROE
- 18.1%
- ROA
- 9.3%
- ROIC (approx.)
- 23.7%
- Gross margin
- 17.1%
- Operating margin
- 15.7%
- Net margin
- 10.2%
- Free cash flow
- 249.5M EUR
- FCF yield
- 5.5%
- Cash conversion
- 57%
Solvency
- Total debt
- 179.8M EUR
- Net debt
- −401.1M EUR
- Cash
- 580.9M EUR
- EBITDA
- 434.2M EUR
- Net debt / EBITDA
- −0.92
- Debt / equity
- 11.87
- Current ratio
- 1.73
- Quick ratio
- 1.41
Growth
- Revenue growth
- +8.0%
- Earnings growth
- −13.6%
- EPS (TTM)
- 5.51 EUR
- EPS (forward)
- 8.32 EUR
Dividend
- Dividend yield
- 1.1%
- Payout
- 24.5%
Risk and market
- Beta
- 0.87
- Analyst consensus
- Strong buy (11)
- Target price
- 153.36 EUR
- 52-week range
- 76.65 – 129.00
Recent news
All REY.MI news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Reply
Is Reply stock cheap or expensive?
On P/E and EV / EBITDA, it trades 40% below the Technology median on average. Valuation score: 7.8 out of 10 (median for Technology: 5.3). Average analyst target: 153.36 EUR, +21.9% versus the price. This is not investment advice.
What score does Reply get on MeridIAn Screener?
It scores 6.1 out of 10, rank 928 of 2,130 (better than 55% of the companies analysed). Its strongest category is Valuation (7.8) and its weakest, Growth (4.2). Analysis of 08/10/2026.
What is Reply's P/E ratio?
Its P/E is 22.8: the share price equals 22.8 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 15.1.
How much is Reply worth on the stock market?
Its market capitalisation is 4.6B EUR and its enterprise value, debt included, is 4.2B EUR.
How much debt does Reply have?
It has more cash than debt: net cash of 401.1M EUR.
Does Reply pay a dividend?
Yes: its dividend yield is 1.07% and it pays out 24% of its earnings.
How has Reply stock performed over the last year?
It has risen 4.7% over the last year, excluding dividends. Over the last 52 weeks it has traded between 76.65 and 129.00 EUR. Past performance does not guarantee future results.
What do analysts think of Reply?
11 analysts cover it; their average recommendation is “Strong buy” and their average target is 153.36 EUR (+21.9% versus the price). It is an estimate, not market data.