Iren is an Italian utility running district heating, electricity and gas supply, and waste-to-energy plants across Turin, Genoa, Reggio Emilia and Parma, with a growing presence in data centre hosting. Its edge is regulated, asset-backed cash flow in its home markets, which gives it a sturdier base than most small European peers. The near-term story is the buildout of data centre and power capacity, which could lift the revenue mix away from the 2.8% top-line growth the business currently shows. What makes it worth a look now is the valuation: a trailing P/E of 10.5 and a forward P/E of 9.9 for a company with a 33.0% gross margin and an 8.6% return on equity, though the 6.3% operating margin leaves little room for error on execution. The question for the deeper dive is whether the data centre projects convert into margin expansion rather than just capital spending.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.
| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | €2.69 | first publication | €2.42 |
| 22 Oct 2026, 13:04 CEST | Rating | Undervalued | first publication | €2.44 |
| 22 Oct 2026, 13:04 CEST | Fair value | €3.08 | first publication | €2.44 |
Answered from Iren SpA fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| IRE.MI Iren SpA | €2.41 | €3 | 22% below | 10.5x | 8.6% | 47 | 59 |
| AVA Avista Corporation Common Stock | $37.74 | - | - | 13.6x | 8.3% | 62 | 56 |
| AQN.TO Algonquin Power & Utilities | C$7.62 | - | - | 22.9x | 2.5% | 50 | 43 |
| AQN Algonquin Power & Utilities Corp. Common Shares | $5.45 | - | - | 22.5x | 2.5% | 50 | 43 |
| RENE.LS REN - Redes Energéticas Nacionais, SGPS, S.A. | €3.54 | €5 | 27% below | 12.6x | 12.4% | 65 | 65 |
| ACE.MI ACEA S.p.A. | €20.26 | €21 | 4% below | 11.9x | 12.4% | 72 | 59 |
| MVV1.DE MVV Energie AG | €30.50 | €52 | 41% below | 46.6x | 4.1% | 34 | 37 |
Where IRE.MI ranks against its sector peers on each metric.