Indra (IDR): analysis in plain words
Is Indra cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Indra (IDR) is listed on the Madrid Stock Exchange and we classify it in aerospace and defence. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Indra according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Indra (IDR) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €59.88 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 18.3x | Price over earnings per share |
| Revenue growth | +22.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 7.7% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 0.47% | Annual dividend over price |
| Market cap | €10.5 billion | What the stock market values it at |
The Indra figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any IDR figure that is not available shows as N/A: we do not estimate it.
How Indra makes money
Indra works in defense, supplying radars, simulators and electronic systems to armed forces; in air traffic management, with equipment for controllers; and in mobility, with transport and tolling systems. Minsait, its IT consulting and systems unit for banks, governments and utilities, generates most of its sales. Spain is its main market.
Over the last 12 months, Indra brought in revenue of €6.5 billion. For every 100 it sells, Indra keeps 22.2 after the direct cost of what it sells (gross margin) and 9.4 after all operating costs (operating margin). With 58,975 full-time employees, that is about €110,000 of revenue per employee.
Indra against its sector
To know whether a Indra figure is high or low you have to put it next to similar companies. This table compares Indra with the median of the 12 aerospace and defence companies Fintols covers, with data as of November 4, 2026.
| Figure | Indra | aerospace and defence median |
|---|---|---|
| P/E | 18.3x | 24.9x (12) |
| Revenue growth | +22.7% | +14.4% (14) |
| Net margin | 7.7% | 8.2% (14) |
| Dividend yield | 0.47% | 1.17% (14) |
| Net debt / EBITDA | -1.4x | 1.3x (12) |
In short, against the typical aerospace and defence company, Indra trades on a lower P/E, grows faster and pays a lower dividend yield. By size, Indra ranks number 4 of 4 aerospace and defence companies quoted in EUR on Fintols.
The bull case for Indra
These are the strengths in the Indra figures as of November 4, 2026:
- Indra is selling more than a year ago: +22.7% in its latest quarter (the typical aerospace and defence company grew +14.4%).
- Indra earns 26.3% a year on its shareholders' money (return on equity).
- Indra holds more cash than debt (net cash), so it does not depend on lenders to keep investing and is better placed to ride out a bad year.
The main risk for Indra
Indra is burning cash: its free cash flow over the last 12 months is negative (-€107 million).
And, like the rest of aerospace and defence, Indra is exposed to production delays and problems, and changes in defence budgets.
Frequently asked questions about Indra
Is it a good time to buy Indra stock?
Fintols does not tell you whether to buy or sell Indra, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Indra stock trades at €59.88, 9% below its 52-week high (€66.15) and 40% above its low (€42.80). Its P/E is 18.3x against a aerospace and defence median of 24.9x, and 18.1x on the earnings analysts expect over the next 12 months. With Indra, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Indra pay a dividend?
Yes. As of November 4, 2026, Indra pays €0.30 per share a year, which at today's price is a yield of 0.47%. It uses 11% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 0.91%. The aerospace and defence median on Fintols is 1.17%.
Is Indra stock expensive?
It depends on what you compare it with. On P/E, Indra trades at 18.3x its last 12 months of earnings: cheaper than the aerospace and defence median (24.9x). Including its debt, Indra is valued at 12.6x its EBITDA (EV/EBITDA). A high P/E alone does not make Indra expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Indra's competitors?
On Fintols we compare Indra with Northrop Grumman, L3Harris and TransDigm, which are also in aerospace and defence. As of November 4, 2026, Northrop Grumman is worth $74.6 billion and trades on a P/E of 16.6; L3Harris is worth $48.4 billion and trades on a P/E of 24.2; TransDigm is worth $67.3 billion and trades on a P/E of 36.9. Each has a side-by-side comparison with Indra below.
Indra competitors
- Northrop Grumman (NOC) analysis · Indra vs Northrop Grumman comparison
- L3Harris (LHX) analysis · Indra vs L3Harris comparison
- TransDigm (TDG) analysis · Indra vs TransDigm comparison
To understand Indra better
- How to Write an Investment Thesis (Step by Step)
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Indra: aerospace and defence stocks and IBEX 35 companies. Open the full IDR analysis with its valuation and scenarios. Educational content about Indra, not investment advice.