Industria De Diseno Textil SA Share From Split

ITX: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Inditex Earnings: Solid Fiscal 2024, but Subdued Start to 2025 Spooks Investors; Shares Overvalued

Jelena Sokolova

Mar 12, 2025

We are maintaining our fair value estimate for narrow-moat Inditex as the company reported a strong closing to 2024, largely in line with our expectations. We continue viewing shares as expensive, based on our forecasts for long-term high-single-digit revenue growth and broadly stable margin. Shares are under pressure following the results, after a disappointing start to the year with only 4% constant-currency growth from Feb. 1, 2025 to March 10, 2025. We believe it’s too early to extrapolate the slowdown into the future.

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Industria De Diseno Textil SA Share From Split

Inditex Earnings: Solid Fiscal 2024, but Subdued Start to 2025 Spooks Investors; Shares Overvalued

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