IAR S.A.

IARV

IAR S.A. develops, manufactures, and sells aeronautical products in Romania.The company offers Alouette III and Puma helicopters. It also engages in the design analysis and qualification/certification...

Website | Aircraft And Parts | Other

Automated Financial Analysis

🤵

Financial Advisor Insight

"The stock appears significantly undervalued compared to its earnings potential. Technicals confirm a positive long-term trend, supported by moving averages. Growth forecasts are robust, which could drive future appreciation."

Sentiment: Neutral Action: Buy

"Company demonstrates strong financial health with positive growth and stability indicators."

Strong Revenue Growth (10.5% CAGR).
Undervalued based on PE (Current: 10.1 vs Fair: 15).
Significantly Undervalued (Trading 37% below Graham Number).
Bullish Trend (SMA50 > SMA200).
Stochastic indicates oversold conditions.
Forecast: Continued Revenue Growth (~17.1% next year).

Technical Analysis

Trend Bullish (Long Term)
Last Cross
Golden Cross (1 year ago)
RSI (14) 51.3
SMA 50 16.00
SMA 200 14.53

Price Valuation

Current Price 17.45
Fair Value (PE 15) 25.89
Undervalued 48%
Graham Number 23.82
Upside 37%

Forecast

Rev Forecast (Next Yr) 447M
Growth Forecast 17.1%

📊 Market & Peer Context

Benchmark: BET
Volatility (Beta)
-0.12
Less Volatile than Market
Correlation
-0.05
Moves with Market
Relative Strength (1Y)
-17.31%
vs Benchmark
Index Returns (1Y)
69.4%
BET

Historical Performance

Metric 5Y 3Y 1Y YTD 6M 3M 1M 1W
IARV 39.6% 71.9% 33.7% 13.7% 21.2% -11.6% 0.0% 0.0%
BET - 132.5% 69.4% 18.5% 33.0% 6.9% 2.4% 1.8%
Alpha (Diff) - -60.6% -35.7% -4.9% -11.9% -18.6% -2.4% -1.8%

Financial Reports

Price Chart

Sector: Other

Based on Market Cap
LEADER
SCD
Zentiva S.A.
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ONE
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EVER
Evergent Investments SA
2,701M
CRC
Chimcomplex S.A.
2,531M
LION
Lion Capital S.A.
2,412M
FP
Fondul Proprietatea SA
2,339M
AQ
Aquila Part Prod Com S.A.
2,062M
INFINITY
Infinity Capital Investments S.A.
1,981M
SFG
Sphera Franchise Group S.A.
1,539M
ARS
Aerostar S.A.
1,462M
SOCP
SOCEP S.A.
1,187M
GREEN
Green Tech International S.A.
1,111M
ALR
Alro S.A.
1,071M
WINE
Purcari Wineries Public Company Limited
789M
AROBS
AROBS Transilvania Software S.A.
706M
COTE
Conpet S.A.
677M
CMVX
Comvex S.A.
662M
TTS
TTS (Transport Trade Services) S.A.
589M
IMP
Impact Developer & Contractor S.A.
567M
DN
Dn Agrar Group S.A.
463M
SMTL
Simtel Team S.A.
459M
BVB
Bursa de Valori Bucuresti SA
371M
OIL
Oil Terminal S.A.
342M
SIDG
S.C. ArcelorMittal Hunedoara S.A.
342M
IARV
IAR S.A.
319M
GSH
GRUP SERBAN HOLDING SA
312M
SCDM
S.C. Unirea Shopping Center S.A.
258M
RCHI
Societatea Comerciala Compania Hoteliera Intercontinental Romania S.A.
238M
FOSB
SC Foraj Sonde SA Craiova
237M
PPLI
Professional Imo Partners S.A.
232M

ETAPA 1 • MUST HAVE

5/8
Healthy Leverage (Debt/Equity)
0.00
Target: < 1.5
Gross Margin vs Industry
0.0% vs 0.0%
Target: > 0.0%
Operating Cash Flow vs Profit
0%
Target: > 1.0
Free Cash Flow vs Profit
-564%
Target: > 0.8
ROIC (Return on Capital)
7.52%
Target: Positive
ROIC vs WACC
ROIC: 7.5% / WACC: 1,974,924.0%
Target: > WACC
ROE (Return on Equity)
12.3%
Target: > 10%
EBITDA Positive
34.72M
Target: > 0

ETAPA 2 • CRITERII

5/9
Interest Coverage
Target: > 3x • 0.0x
Miss
Net Margin vs Industry
Target: > 0.0% • 8.3%
Passed
ROA vs Industry
Target: > 3.6% • 2.7%
Miss
Current Ratio
Target: > 1.5 • 20.56
Passed
Assets Growth (5y)
Target: > 0% • 24.1% CAGR
Passed
FCF CAGR (5y)
Target: > 5% • 0.0%
Miss
EV/EBITDA vs Industry
Target: < Industry • 0.0 vs 0.0
Miss
Net Debt / EBITDA
Target: < 3 • 0.00
Passed
Revenue CAGR (5y)
Target: > 5% • 10.5%
Passed

SNAPSHOT COMPANIE

Capitalizare
0.32B RON
EBITDA
34.72M
P/E Ratio
10.11
PEG Ratio
0.97
Dividend Yield
2.37%
Beta
-0.12
Valoare Intrinsecă (Graham)
23.82 RON
Discount
+36.5%

Balance Sheet

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Cash & Equivalents 16,724,212 5,032,468 18,127,878 258,293,914 45,304,346
Short-Term Investments - 14,827,812 67,514,543 - -
Totalcash 16,724,212 19,860,280 85,642,421 258,293,914 45,304,346
Cash Growth -81.49% -76.81% -66.84% 470.13% 363.58%
Accounts Receivable 101,716,726 170,354,610 115,905,923 39,397,706 46,551,374
Other Receivables - 13,094,799 9,675,385 666,044 2,059,061
Receivables 101,716,726 183,449,409 125,581,308 40,063,750 48,610,435
Inventory 450,827,997 489,234,862 294,421,728 256,828,675 222,838,034
Other Current Assets - - - - -
Assetsc 569,268,935 692,544,551 505,645,457 555,186,339 316,752,815
Property, Plant & Equipment 116,129,051 106,169,861 102,051,055 95,352,429 85,367,379
Long-Term Investments 5,428,997 5,428,997 5,428,997 5,428,997 5,428,997
Other Intangible Assets 12,791 18,105 17,333 34,849 426,931
Other Long-Term Assets 140,766 3,811,036 2,153,792 1,287,214 1,371,493
Assets 690,980,540 807,972,550 615,296,634 657,289,828 409,347,615
Accounts Payable 21,259,449 25,280,067 22,558,055 14,409,211 31,369,282
Accrued Expenses 4,256,228 - - - -
Short-Term Debt - - - 42,730,605 73,023,068
Current Income Taxes Payable - - - - -
Current Unearned Revenue 736,906 1,477 213,729,806 250,775,884 14,864,346
Other Current Liabilities 15,761,350 8,406,020 17,501,177 48,341,758 11,588,185
Total Current Liabilities 42,013,933 33,687,564 253,789,038 356,257,458 130,844,881
Long-Term Unearned Revenue - 399,895,801 754,440 857 27,106
Other Long-Term Liabilities 366,641,577 97,810,218 107,024,894 67,448,381 52,720,996
Total Liabilities 408,655,510 540,848,190 368,018,732 428,762,609 189,534,885
Common Stock 47,197,132 47,197,132 47,197,132 47,197,132 47,197,132
Retained Earnings 38,435,690 47,740,390 40,156,749 27,153,210 37,423,054
Comprehensive Income & Other 203,400,208 178,894,838 166,632,021 160,884,877 141,900,544
Equity 282,325,030 267,124,360 247,277,902 228,527,219 219,812,730
Total Liabilities & Equity 690,980,540 807,972,550 615,296,634 657,289,828 409,347,615
Filing Date Shares Outstanding 18,278,853 18,278,853 18,278,853 18,278,853 18,278,853
Total Common Shares Outstanding 18,278,853 18,278,853 18,278,853 18,278,853 18,278,853
Book Value Per Share 15.45 14.61 13.53 12.50 12.03
Tangible Book Value 282,312,239 267,106,255 247,260,569 228,492,370 219,385,799
Tangible Book Value Per Share 15.44 14.61 13.53 12.50 12.00
Total Debt - - - 42,730,605 73,023,068
Net Cash (Debt) 16,724,212 19,860,280 85,642,421 215,563,309 -27,718,722
Net Cash Growth -81.49% -76.81% -60.27% - -
Netcashpershare 0.91 1.09 4.69 11.79 -1.52
Working Capital 527,255,002 658,856,987 251,856,419 198,928,881 185,907,934
Treasury Stock -6,708,000 -6,708,000 -6,708,000 -6,708,000 -6,708,000
Land 27,660,386 27,660,386 27,660,386 27,660,386 27,660,386
Buildings 44,089,369 44,065,419 44,065,419 44,036,555 42,833,555
Machinery 31,233,222 25,895,558 24,527,510 23,554,672 19,082,016
Construction In Progress 54,189,615 46,646,977 40,204,468 31,974,988 23,975,283
Pension & Post-Retirement Benefits - 9,454,607 6,450,360 5,055,913 5,941,902

Cash Flow Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Net Income 37,317,463 31,544,924 24,069,830 14,198,145 23,488,292
Depreciation & Amortization 3,857,200 3,702,724 3,891,608 4,235,183 4,116,856
Loss (Gain) From Sale of Assets 10,060 10,060 -53,496 28,591 877
Change in Accounts Receivable 32,798,964 - - 125,581,308 48,610,435
Change in Inventory -36,715,588 - - 294,421,728 222,838,034
Change in Accounts Payable - - - 253,789,038 57,821,813
Change in Other Net Operating Assets -258,265,896 -200,032,365 -182,848,426 -443,530,990 -325,822,496
Other Operating Activities -45,693,721 -2,464,040 36,795,153 15,252,768 -26,235,196
Ncfo -266,691,518 -167,238,697 -118,145,331 263,975,771 4,818,615
Ocf Growth - - - 5,378.25% -87.83%
Capex -10,669,472 -10,669,472 -10,125,144 -15,665,668 -15,452,409
Investment in Securities - - - - -
Other Investing Activities 6,105,938 - - 2,874,146 -
Ncfi -3,984,694 -10,090,632 -9,554,264 -12,762,222 -13,982,352
Short-Term Debt Issued - 42,541,191 - - 55,029,776
Long-Term Debt Issued - 136,362,673 - - -
Total Debt Issued 178,903,864 178,903,864 - - 55,029,776
Short-Term Debt Repaid - - -105,074,779 -30,292,463 -
Long-Term Debt Repaid - - -313,348 -152,651 -228,716
Total Debt Repaid - - -105,388,127 -30,445,114 -228,716
Net Debt Issued (Repaid) 178,903,864 178,903,864 -105,388,127 -30,445,114 54,801,060
Common Dividends Paid -12,344,006 -12,344,006 -5,980,064 -5,399,995 -7,656,001
Other Financing Activities -2,325,939 -2,325,939 -1,098,250 -2,378,872 -2,449,684
Financing Cash Flow 178,589,425 164,233,919 -112,466,441 -38,223,981 44,695,375
Net Cash Flow -104,298,663 -13,095,410 -240,166,036 212,989,568 35,531,638
Free Cash Flow -277,360,990 -177,908,169 -128,270,475 248,310,103 -10,633,794
Free Cash Flow Growth - - - - -
Fcf Margin -69.56% -46.62% -30.01% 78.72% -3.25%
Fcfps -15.17 -9.73 -7.02 13.59 -0.58
Levered Free Cash Flow -330,240,269 -461,209,134 -170,996,201 227,063,488 5,555,963
Unlevered Free Cash Flow -329,647,725 -460,398,573 -170,641,890 228,997,855 6,492,234
Cash Interest Paid - - - - 1,498,034
Cash Income Tax Paid 18,654,087 18,654,087 -4,765,115 -3,233,762 4,266,043
Change Working Capital -262,182,520 -200,032,365 -182,848,426 230,261,084 3,447,786
Sale of Property, Plant & Equipment 578,840 578,840 570,880 29,300 1,470,057
Miscellaneous Cash Flow Adjustments -12,211,876 - - - -

Income Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Revenue 398,755,557 381,619,358 427,484,707 315,424,444 327,203,880
Revenue Growth 10.29% -10.73% 35.53% -3.60% 27.67%
Cost of Revenue 269,332,457 257,303,776 262,004,322 212,147,508 234,018,753
Gp 129,423,100 124,315,582 165,480,385 103,276,936 93,185,127
Selling, General & Admin 79,463,498 73,758,316 63,316,500 53,343,437 50,676,065
Other Operating Expenses 11,332,864 15,893,128 68,768,162 29,430,707 15,384,205
Operating Expenses 94,653,562 93,354,168 135,976,270 87,009,327 70,177,126
Operating Income 34,769,538 30,961,414 29,504,115 16,267,609 23,008,001
Interest Expense -948,071 -1,296,898 -566,897 -3,094,986 -1,498,033
Interest & Investment Income 4,087,945 2,839,893 6,354,355 214,843 193,335
Earnings From Equity Investments 568,780 568,780 568,320 2,874,146 1,465,077
Currency Exchange Gain (Loss) -2,049,977 -2,049,977 -3,716,459 -1,073,348 -831,717
Other Non Operating Income (Expenses) 4,589,492 4,589,492 2,974,099 2,754,574 4,188,025
Pretax Income 41,017,707 35,612,704 35,117,533 17,942,838 26,524,688
Income Tax Expense 3,700,244 4,067,780 11,047,703 3,744,693 3,036,396
Net Income 37,317,463 31,544,924 24,069,830 14,198,145 23,488,292
Net Income to Common 37,317,463 31,544,924 24,069,830 14,198,145 23,488,292
Net Income Growth 1,271.28% 31.06% 69.53% -39.55% -30.85%
Shares Basic 18,278,853 18,278,853 18,278,853 18,278,853 18,278,853
Shares Outstanding (Diluted) 18,278,853 18,278,853 18,278,853 18,278,853 18,278,853
Shares Yo Y - - - - -
Eps Basic 2.04 1.73 1.32 0.78 1.28
EPS (Diluted) 2.04 1.73 1.32 0.78 1.28
EPS Growth 1,271.29% 31.06% 69.53% -39.55% -30.85%
Free Cash Flow -277,360,990 -177,908,169 -128,270,475 248,310,103 -10,633,794
Free Cash Flow Per Share -15.17 -9.73 -7.02 13.59 -0.58
Dps 0.29 0.29 0.64 0.29 0.30
Dividend Growth -54.69% -54.69% 119.93% -3.00% -29.01%
Gross Margin 32.46% 32.58% 38.71% 32.74% 28.48%
Operating Margin 8.72% 8.11% 6.90% 5.16% 7.03%
Profit Margin 9.36% 8.27% 5.63% 4.50% 7.18%
Free Cash Flow Margin -69.56% -46.62% -30.01% 78.72% -3.25%
Effective Tax Rate 0.09 0.11 0.31 0.21 0.11
EBITDA 38,690,691 34,724,538 33,395,723 20,502,792 27,124,857
D&A For EBITDA 3,921,153 3,763,124 3,891,608 4,235,183 4,116,856
EBITDA Margin 9.70% 9.10% 7.81% 6.50% 8.29%
EBIT 34,769,538 30,961,414 29,504,115 16,267,609 23,008,001
EBIT Margin 8.72% 8.11% 6.90% 5.16% 7.03%
Revenue as Reported 396,095,492 411,944,784 440,803,825 341,316,969 330,692,180
Payoutratio 33.08% 39.13% 24.85% 38.03% 32.60%

Ratios and Metrics

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Marketcap 260,473,655 228,485,663 252,248,171 169,993,333 224,829,892
Market Cap Growth 14.46% -9.42% 48.39% -24.39% 6.96%
Enterprise Value 243,749,445 138,136,182 228,865,441 220,087,222 253,313,731
Last Close Ratios 1,425.00% 1,224.20% 1,293.27% 850.76% 1,091.45%
Pe 6.98 7.24 10.48 11.97 9.57
PS Ratio 0.65 0.60 0.59 0.54 0.69
PB Ratio 0.92 0.86 1.02 0.74 1.02
P/TBV Ratio 0.92 0.86 1.02 0.74 1.03
P/FCF Ratio - - - 0.69 -
P/OCF Ratio - - - 0.64 46.66
EV/Sales Ratio 0.61 0.36 0.54 0.70 0.77
EV/EBITDA Ratio 6.21 3.98 6.85 10.74 9.34
EV/EBIT Ratio 6.90 4.46 7.76 13.53 11.01
EV/FCF Ratio -0.88 - - 0.89 -
Debt / Equity Ratio - - - 0.19 0.33
Debt / EBITDA Ratio - - - 2.08 2.69
Debt / FCF Ratio - - - 0.17 -
Asset Turnover 53.40% 53.60% 67.20% 59.10% 87.30%
Inventory Turnover 57.30% 65.70% 95.10% 88.50% 107.90%
Quick Ratio 2.82 6.04 0.83 0.84 0.72
Current Ratio 13.55 20.56 1.99 1.56 2.42
Roe 14.00% 12.26% 10.12% 6.33% 11.08%
Return on Assets (ROA) 2.91% 2.72% 2.90% 1.91% 3.84%
Return on Capital (ROIC) 8.16% 7.52% 7.11% 3.61% 5.30%
Return on Capital Employed (ROCE) 0.05 0.04 0.08 0.05 0.08
Earningsyield 14.33% 13.81% 9.54% 8.35% 10.45%
FCF Yield -106.48% -77.86% -50.85% 146.07% -4.73%
Dividend Yield 2.04% 2.37% 4.95% 3.42% 2.75%
Payout Ratio 33.08% 39.13% 24.85% 38.03% 32.60%
Buyback Yield / Dilution - - - - -
Totalreturn 2.04% 2.37% 4.95% 3.42% 2.75%

Price History

Jul 16, 2018 — Jan 26, 2026 1825 Records
Date Open High Low Close Volume
2026-01-26 19.00 19.65 16.80 17.45 31,583
2026-01-25 19.50 20.00 19.00 19.00 10,320
2026-01-24 19.75 19.75 19.30 19.65 1,382
2026-01-22 19.75 19.75 19.30 19.65 1,382
2026-01-21 19.85 19.95 19.40 19.80 1,809
2026-01-20 19.80 19.80 19.40 19.70 2,388
2026-01-19 20.00 20.30 19.80 20.00 1,798
2026-01-18 20.00 21.70 19.50 20.00 14,933
2026-01-15 17.30 19.75 17.30 19.75 32,446
2026-01-14 17.20 17.30 16.80 17.20 1,420
2026-01-13 17.10 17.30 16.80 17.20 1,523
2026-01-12 17.30 17.45 16.70 17.45 5,062
2026-01-11 17.30 17.45 16.70 17.45 5,062
2026-01-09 17.35 17.40 16.50 17.30 3,405
2026-01-08 17.35 17.40 16.50 17.30 3,405
2026-01-07 15.70 17.45 15.70 17.35 13,760
2026-01-06 15.10 15.60 15.10 15.60 3,600
2026-01-05 15.10 15.60 15.10 15.60 3,600
2026-01-04 15.10 15.60 15.10 15.60 3,600
2026-01-01 15.35 15.40 15.15 15.35 3,985
2025-12-31 15.35 15.40 15.15 15.35 3,985
2025-12-30 15.35 15.40 15.15 15.35 3,985
2025-12-29 15.35 15.40 15.15 15.35 3,985
2025-12-28 15.35 15.35 14.90 15.35 12,809
2025-12-25 15.05 15.35 15.00 15.00 461
2025-12-24 15.05 15.35 15.00 15.00 461
2025-12-23 15.05 15.35 15.00 15.00 461
2025-12-22 15.05 15.35 15.00 15.00 461
2025-12-21 15.50 15.50 14.80 15.00 1,320
2025-12-19 15.30 15.50 15.30 15.50 2,079
2025-12-18 15.30 15.50 15.30 15.50 2,079
2025-12-17 15.45 15.45 15.35 15.40 698
2025-12-16 15.45 15.50 14.75 15.00 1,250
2025-12-15 15.30 15.65 14.75 15.40 3,121
2025-12-14 14.85 15.30 14.85 15.30 15,590
2025-12-12 14.50 15.00 14.50 14.85 33,018
2025-12-11 14.50 15.00 14.50 14.85 33,018
2025-12-10 14.05 14.95 14.05 14.50 28,527
2025-12-09 13.85 14.50 13.85 14.30 4,234
2025-12-08 14.30 14.30 13.70 14.00 3,353
2025-12-07 14.00 14.30 14.00 14.00 1,479
2025-12-05 14.25 14.25 14.00 14.25 820
2025-12-04 14.25 14.25 14.00 14.25 820
2025-12-03 14.30 14.30 14.00 14.00 146
2025-12-02 13.90 14.00 13.90 14.00 1,181
2025-12-01 13.95 14.00 13.90 13.90 627
2025-11-30 14.00 14.00 14.00 14.00 400
2025-11-28 14.00 14.00 14.00 14.00 400
2025-11-27 14.00 14.00 14.00 14.00 400
2025-11-26 14.00 14.00 14.00 14.00 1,109