Itron vs OSI Systems
Itron is the larger business, with $2.37bn of revenue in fiscal 2025 against $1.79bn for OSI Systems (1.3 times as much). OSI Systems grew faster (4.3% against -3.0%). Itron kept more of each dollar of sales as profit: a net margin of 12.7% against 8.7%. Itron carries less debt relative to equity (73.7% against 122.2%).
| Latest fiscal year | ItronITRI, 2025 | OSI SystemsOSIS, 2026 |
|---|---|---|
| Revenue | $2.37bn | $1.79bn |
| Revenue growth | -3.0% | 4.3% |
| Net income | $301m | $155m |
| Operating margin | 13.2% | 12.3% |
| Net margin | 12.7% | 8.7% |
| Return on equity | 19.4% | 17.3% |
| Free cash flow | $383m | $245m |
| Cash | $1.02bn | $360m |
| Total debt | $1.26bn | $1.02bn |
| Debt to equity | 73.7% | 122.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $100m | $272m |
| Employees | 5,550 | 7,806 |
| Market value | $4.26bn | $3.18bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 50 (Moderate) | 60 (Moderate) |
| Insider trades, 12 months | 0 buys, 82 sales | 0 buys, 5 sales |