ITX · BME · Apparel Retail
Industria de Diseño Textil, S.A., commonly known as Inditex, is one of the world’s largest fashion retail groups and the owner of brands including Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara…
Current price
€54.14
▲ +€0.22 (0.41%) today
ET&A View
Last reviewed 15 September 2026
ET&A likes the company but would prefer investors to build exposure gradually.
Inditex is one of the highest-quality global apparel retailers, supported by Zara's exceptional brand strength, rapid inventory model, vertically integrated logistics network and increasingly productive combination of physical…
Business Health
Is the business financially healthy?
Yes — healthy
Earnings, margins, cash generation and the balance sheet stand out.
Overall
Revenue
€41.3bn · ↑ +3% last year
Earnings
€6.4bn · ↑ +6% last year
Margins
Keeps 19% of sales as operating profit
Cash generation
€6.5bn spare cash a year · 16% of sales
Balance sheet
More cash than debt
Dividend
1.2% yield · Pays out 57% of earnings · covered 1.8×
Investor View
Open a section for the detail behind the quick view.
Inditex is one of the highest-quality global apparel retailers, supported by Zara's exceptional brand strength, rapid inventory model, vertically integrated logistics network and increasingly productive combination of…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2026 | €39.9bn | +3.2% | 20.2% | €6.2bn | €2.00 | €6.5bn |
| FY2025 | €38.6bn | +7.5% | 19.9% | €5.9bn | €1.88 | €6.6bn |
| FY2024 | €35.9bn | +10.4% | 19.2% | €5.4bn | €1.73 | €6.8bn |
| FY2023 | €32.6bn | — | 18.1% | €4.1bn | €1.33 | €5.3bn |
Long-term growth investors
Also suits: Investors who want a mix of growth and stability
We don’t cover another company in this sector yet.
Compare Industria de Diseño Textil S.A. with any company → The model’s own peer calculations are in the Research View.
Industria de Diseño Textil, S.A., commonly known as Inditex, is one of the world’s largest fashion retail groups and the owner of brands including Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home. Headquartered in Spain, the company designs, sources, distributes, and sells clothing, footwear, accessories, and home products through a global network of stores and online platforms.
Inditex’s strength comes from its fast, flexible, and highly integrated fashion model. Its ability to respond quickly to changing consumer trends, manage inventory tightly, and combine physical retail with digital channels has made Zara and its wider brand portfolio highly influential in global fashion. This gives Inditex exposure to everyday apparel spending, premiumisation, online retail, supply-chain efficiency, and international consumer demand, making it one of the most important companies in global fashion retail.
Apparel Retail · Spain
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As of 13 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Profitable · Strong balance sheet · Neutral
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (45% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 6.1 / 10 | Good |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 7.9 / 10 | Strong |
| Margins |
The average of operating and net margin, each scored on ET&A's margin scales. A negative margin scores 1 (Weak). | 7.0 / 10 | Strong |
| Cash generation |
Free cash flow as a share of sales, on ET&A's cash-generation scale. | 8.7 / 10 | Excellent |
| Balance sheet |
Net debt ÷ EBITDA — roughly how many years of operating earnings would repay the debt — on ET&A's leverage scale. | 9.1 / 10 | Excellent |
| Dividend |
Dividend yield on ET&A's income scale. Not part of the overall health rating. | 3.4 / 10 | Below Average |
| Overall | Average of the 5 rated areas | 7.8 / 10 | Strong |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for Industria de Diseño Textil S.A. yet.
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