Ituran: Strong Q2 Results Reveal The Data Opportunity Hidden Inside Its Telematics Network

Ituran Location and Control delivered record Q2 2026 revenue and robust subscription growth, with a 2.71 million subscriber base fueling strong recurring revenue. The company's core telematics business drives profitability, with Q2 subscription revenue up 25% year-over-year and profit growth outpacing revenue, supporting a Buy rating. The emerging Big Data business offers potential upside, with early contracts and pilots showing promise, though material earnings contribution remains nascent. Ituran's valuation reflects its core business, trading at 15.5× 2026 P/E, with data monetization as a potential but not yet priced-in catalyst.