Indra sees 2026 revenue constant currency at more than EUR7B

Indra sees 2026 revenue constant currency at more than EUR7B

Indra Projects 2026 Revenue to Exceed EUR7 Billion in Constant Currency

Indra Sistemas, a Spanish technology and defense contractor, has positioned itself for robust growth in 2026, with analysts and company performance suggesting revenue could surpass EUR7 billion in constant currency terms. This projection builds on strong 2025 results and strategic expansion in defense and digital services.

For the first nine months of 2025, Indra reported revenue growth of approximately 6%, driven by a 35% increase in order backlog and the consolidation of TESS Defence, a UK-based cybersecurity firm. EBITDA rose 10%, while net profit surged 58% year-on-year to €291 million, reflecting improved operational efficiency and demand for defense and public-sector projects. These trends, combined with a record backlog, underpin confidence in sustained revenue momentum into 2026.

The company’s growth trajectory aligns with broader European defense and technology spending, which has seen increased budgets and institutional support, including from the European Investment Bank. Indra’s expansion into mobility and transportation solutions, supported by new international offices, further diversifies its revenue streams. Analysts note that the defense sector’s resilience and long-term contracts provide visibility, though execution risks and political priorities remain factors.

Third-party forecasts for Indra's stock price in 2026–2030 vary widely, with price targets ranging from €33 to €67 as of January 2026. Platforms like Yahoo Finance and Investing.com highlight diverging assumptions about valuation, margin resilience, and growth potential. Despite a heavily bullish client sentiment (91.7% long positions on Capital.com), experts caution that the stock's rapid re-rating—from €16 in early 2024 to €54 by January 2026—leaves it vulnerable to volatility if earnings or contract execution fall short.

With a technical outlook showing the stock holding above key moving averages and a neutral RSI, market participants remain cautiously optimistic. However, risks such as regulatory scrutiny, cyclical public-sector spending, and macroeconomic shifts could impact results.

In summary, Indra’s 2026 revenue outlook reflects strong 2025 performance, a growing backlog, and favorable sector dynamics. While challenges persist, the company’s strategic positioning in defense and digital transformation suggests it is well-placed to achieve its EUR7 billion target, assuming consistent execution and stable market conditions.

Capital.com, January 22, 2026: Capital.com, January 22, 2026.