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Carel Industries SpA
(CRL)
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Rating:63Neutral
Price Target:
€27.00
▼(-1.28% Downside)
Action:Reiterated
Date:10/16/26
The score is supported primarily by solid financial performance (healthy margins, low leverage, and positive free cash flow), but is held back by weak technical momentum (below major moving averages with negative MACD) and a relatively rich valuation (P/E ~31 with a low dividend yield).
Positive Factors
Revenue and profitability
Carel combines continued top-line expansion with healthy operating and net profitability. These margins provide internal funding for product development, customer support and connected solutions, while supporting resilience if HVAC/R demand becomes uneven over the next several quarters.
Negative Factors
Free cash flow decline
Although cash generation remains positive, the year-over-year decline reduces the consistency of internally generated funding. If this pattern persists, Carel may have less flexibility for investment, shareholder returns or balance-sheet strengthening even while accounting earnings remain solid.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability
Carel combines continued top-line expansion with healthy operating and net profitability. These margins provide internal funding for product development, customer support and connected solutions, while supporting resilience if HVAC/R demand becomes uneven over the next several quarters.
Read all positive factors
Carel Industries SpA (CRL) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€3.05B
Dividend Yield0.72%
Average Volume (3M)101.71K
Price to Earnings (P/E)33.0
Beta (1Y)1.18
Revenue Growth16.82%
EPS Growth49.68%
CountryIT
Employees2,778
SectorTechnology
Sector Strength88
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.82
Shares Outstanding112,499,200
10 Day Avg. Volume68,741
30 Day Avg. Volume101,708
Financial Highlights & Ratios
PEG Ratio2.35
Price to Book (P/B)5.83
Price to Sales (P/S)4.42
P/FCF Ratio25.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€35.35Price Target Upside29.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.83
Revenue Forecast (FY)€751.72M
Carel Industries SpA Business Overview & Revenue Model
Company Description
Carel Industries S.p.A., together with its subsidiaries, designs, manufactures, markets, and distributes control and humidification solutions in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company offer...
How the Company Makes Money
Carel makes money primarily by selling hardware and integrated solutions used by HVAC/R equipment manufacturers and installers to control, monitor and optimize climate and refrigeration systems. Its key revenue streams are: (1) sales of electronic...
Carel Industries SpA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
81
Very Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 692.98M | 629.03M | 578.54M | 650.25M | 548.97M | 426.20M |
| Gross Profit | 104.51M | 151.77M | 263.97M | 170.14M | 230.60M | 186.28M |
| EBITDA | 148.05M | 119.53M | 104.84M | 136.72M | 108.41M | 83.85M |
| Net Income | 92.84M | 73.64M | 62.64M | 70.94M | 62.12M | 49.06M |
Balance Sheet | ||||||
| Total Assets | 899.63M | 868.01M | 851.02M | 920.40M | 640.46M | 507.80M |
| Cash, Cash Equivalents and Short-Term Investments | 126.29M | 143.76M | 102.41M | 157.17M | 107.49M | 100.63M |
| Total Debt | 119.24M | 125.33M | 151.60M | 185.85M | 195.32M | 157.44M |
| Total Liabilities | 386.98M | 385.06M | 409.49M | 524.23M | 419.22M | 337.92M |
| Stockholders Equity | 506.85M | 477.24M | 434.94M | 376.42M | 205.38M | 154.95M |
Cash Flow | ||||||
| Free Cash Flow | 89.08M | 108.58M | 63.90M | 74.62M | 42.61M | 35.48M |
| Operating Cash Flow | 102.56M | 121.64M | 85.38M | 102.03M | 69.41M | 54.12M |
| Investing Cash Flow | -39.27M | -43.93M | -27.65M | -197.00M | -79.66M | -41.78M |
| Financing Cash Flow | -55.61M | -52.12M | -111.94M | 153.53M | 6.21M | -18.98M |
Carel Industries SpA Technical Analysis
Neutral
27.35
Price Trends
27.21
Negative
27.79
Negative
26.24
Positive
Market Momentum
-0.14
Negative
50.35
Neutral
84.45
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:CRL, the sentiment is Neutral. The current price of 27.35 is above the 20-day moving average (MA) of 27.01, above the 50-day MA of 27.21, and above the 200-day MA of 26.24, indicating a neutral trend. The MACD of -0.14 indicates Negative momentum. The RSI at 50.35 is Neutral, neither overbought nor oversold. The STOCH value of 84.45 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IT:CRL.
Carel Industries SpA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | €160.98M | 16.06 | 9.80% | 3.84% | 2.93% | -5.68% | |
63 Neutral | €3.05B | 33.05 | 19.25% | 0.72% | 16.82% | 49.68% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | €15.51B | 75.69 | ― | ― | 22.07% | 196.86% | |
56 Neutral | €599.93M | -846.12 | -1.24% | ― | 6.07% | 78.18% |
* Technology Sector Average
IT:CRL
Carel Industries SpA
27.10
4.80
21.51%
IT:GE
Gefran SPA
11.20
-0.55
-4.69%
IT:IOT
SECO S.p.A.
4.51
1.15
34.23%
IT:TPRO
Technoprobe S.p.A.
24.22
14.90
159.87%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.