Start here if you're new
what it is
Ituran tracks cars, fleets, and assets, then sells you the monthly service to find them when life gets expensive.
how it gets paid
Last year Ituran Location made $336M in revenue. stolen vehicle recovery was the main engine at $141M, or 42% of sales.
what just happened
Q4 earnings kept climbing, with EPS reaching $0.70 after $0.60 in Q4 2023 and $0.47 in Q4 2022.
At a glance
n/a balance sheet
25/100 earnings predictability — expect surprises
16.7x trailing p/e — the market's not buying it — or you found a deal
12.1% dividend yield — cash in your pocket every quarter
29.0% return on capital — every dollar works hard here
xvary composite: 56/100 — below average
What they do
Ituran tracks cars, fleets, and assets, then sells you the monthly service to find them when life gets expensive.
The company says it has about 2 million subscribers across more than 20 countries. Subscribers → people paying every month → so what: you start each year with a large chunk of revenue already spoken for. If your car, fleet, or equipment already runs through Ituran's system, switching means new hardware, new workflows, and new headaches.
How they make money
$336M
annual revenue
stolen vehicle recovery
$141M
fleet management
$81M
wireless communication products
$64M
personal locator and asset tracking
$30M
navigation and assistance services
$20M
The products that matter
subscription vehicle recovery
Stolen Vehicle Recovery
59.5% gross margin
this is the recurring-revenue core. 59.5% gross margin is high enough to explain why the company can pay out cash and still look financially interesting.
margin engine
commercial vehicle tracking
Fleet Management
160,000–188,000 adds
management is guiding for 160,000–188,000 net subscriber additions in 2026. that's your growth lever. if the company lands near the top of that range, the steady-compounder case holds up better.
growth watch
Key numbers
27.1%
operating margin
Operating margin → what the business keeps after running itself → so what: Ituran turns more than a quarter of sales into operating profit.
29.0%
return on capital
Return on capital → profit earned on money invested → so what: management is getting $0.29 back for every $1 tied up in the business.
12.1%
dividend yield
Dividend yield → your cash payout at today's price → so what: the stock is paying you like a stressed asset while margins say otherwise.
16.7x
trailing p/e
P/E → how many years of earnings you're paying for → so what: you are not paying a hype multiple for this business.
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 3 — safer than 50% of stocks
- price stability 70 / 100
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ITRN right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Q4 earnings kept climbing, with EPS reaching $0.70 after $0.60 in Q4 2023 and $0.47 in Q4 2022.
The clean takeaway is consistency. Full-year EPS rose from $2.41 in 2023 to the $2.70 2024 estimate, while 2024 revenue was estimated at $336 million and gross margin was 47.8% per EDGAR.
$84M
revenue
$0.70
eps
47.8%
gross margin
the number that mattered
$0.70 matters because quarterly EPS has stepped up from $0.47 in Q4 2022 to $0.60 in Q4 2023 to $0.70 in Q4 2024, which says the machine is getting more profitable.
source: company earnings report, 2026
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What could go wrong
the main risk is not abstract. 55% of revenue comes from israel, while the stock sells itself with a 12.1% yield. That means country risk and payout durability are tied together in the same thesis.
high
geographic concentration in israel
55% of revenue and about $185M of annual sales come from israel. that exposes you to one country's economy, regulation, and security backdrop in a way a more diversified business would avoid.
impact: more than half the business is tied to one market
med
the dividend can go from attraction to stress signal
a 12.1% dividend yield gets your attention because it is high. it also tells you the market is already asking how durable that payout is if the business wobbles.
impact: if operating performance softens, the stock can get repriced as a yield trap instead of an income idea
med
competition pressures the best number on the page
the company has local relationships and an installed base, but it does not own vehicle tracking. if competition gets tougher, 59.5% subscription gross margin is the first number you should expect to feel it.
impact: margin pressure would hit both valuation support and dividend confidence
med
subscriber growth stays good, not great
management's 2026 guide of 160,000–188,000 net additions suggests continued progress, but not a step-change in demand. if the company lands near the low end, the stock is still an income story first.
impact: that likely keeps revenue growth in the steady category and caps how much multiple expansion you should expect
55% of revenue is exposed to israel, and the 12.1% yield looks attractive only for as long as 59.5% subscription gross margin stays sturdy.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
subscription gross margin
59.5% is the economic heart of the story. if this starts drifting lower, the dividend will get questioned fast.
2026 guide
net subscriber additions
management set a range of 160,000–188,000 additions. numbers near the high end support the compounding case. numbers near the low end keep the story ordinary.
country risk
israel revenue dependence
with 55% of revenue tied to israel, local disruption matters more here than it would for a broadly diversified business.
mix shift
brazil and other regions
brazil is 30% of revenue and other regions are 15%. if those buckets grow faster, concentration risk starts easing without the company needing a new story.
Analyst rankings
earnings predictability
25 / 100
in human-speak, analysts do not see this as a smooth quarter-after-quarter earnings machine.
risk rank
3
that puts it around the middle of the pack on overall risk — not fragile, not exactly a bunker.
price stability
70 / 100
the stock has been steadier than many small caps. the subscription model helps. the country exposure keeps that comfort from turning into complacency.
source: institutional data
Institutional activity
institutional ownership data for ITRN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$47
current price
n/a
target midpoint · n/a from current
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