Indra (IDR · BME)
Aerospace & DefenseBMEEUROPEMid-cap
Radar Love
From tech consultancy to Spain’s defence sweetheart
Indra Sistemas SA
IDR: BME
59.72 EUR
+20.40%
year to date
Market Cap
Avg Volume
Price
P/E Ratio
Pricing delayed 20 minutes Oct 5, 2026, 12:00 AM
Bull case for Indra
Defence Transformation Underway
Embedded in EU-wide defence programmes with growing backlog
Strategic National Positioning
Key beneficiary of Spain’s 55% YoY jump in defence spending
Digital Leverage and Space Optionality
Space NewCo and digital pivot offer long-term upside
Bear case for Indra
Execution Risks
M&A spree (~20 targets in play) could dilute focus and create integration drag
Political Overhang
Government ownership and EM&M ties could hinder governance perception
Valuation Discount May Persist
Re-rating relies on continued momentum and investor patience