ERMENEGILDO ZEGNA N.V. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 12.03 USD | +1.60% |
|
+4.52% | +3.98% |
| Apr. 24 | Luxury sector outlook clouded by China's slow recovery | RE |
| Apr. 23 | Transcript : Ermenegildo Zegna N.V., Q1 2024 Earnings Call, Apr 23, 2024 |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,234 | 2,375 | 2,624 | 2,821 | - | - |
| Enterprise Value (EV) 1 | 2,841 | 3,036 | 3,324 | 3,404 | 3,263 | 3,231 |
| P/E ratio | -13.8 x | 46.6 x | 21.8 x | 20.8 x | 17.5 x | 15.3 x |
| Yield | 0.9% | 1.02% | 1.14% | 1.43% | 1.81% | 2.16% |
| Capitalization / Revenue | 1.72 x | 1.58 x | 1.38 x | 1.38 x | 1.26 x | 1.18 x |
| EV / Revenue | 2.18 x | 2.01 x | 1.75 x | 1.67 x | 1.46 x | 1.36 x |
| EV / EBITDA | 9.35 x | 9.21 x | 8.01 x | 7.53 x | 6.17 x | 5.62 x |
| EV / FCF | 14.9 x | - | 16.8 x | 16.9 x | 14.7 x | - |
| FCF Yield | 6.71% | - | 5.94% | 5.9% | 6.78% | - |
| Price to Book | 3.12 x | 3.5 x | - | 2.95 x | 2.64 x | 2.34 x |
| Nbr of stocks (in thousands) | 242,344 | 242,803 | 250,310 | 250,310 | - | - |
| Reference price 2 | 9.218 | 9.783 | 10.48 | 11.27 | 11.27 | 11.27 |
| Announcement Date | 4/6/22 | 4/6/23 | 4/5/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,015 | 1,301 | 1,507 | 1,905 | 2,041 | 2,242 | 2,381 |
| EBITDA 1 | - | 303.8 | 329.6 | 415.2 | 452.4 | 528.7 | 575.1 |
| EBIT 1 | - | 149.1 | 157.7 | 220.2 | 235.5 | 292.1 | 325.6 |
| Operating Margin | - | 11.46% | 10.47% | 11.56% | 11.54% | 13.03% | 13.67% |
| Earnings before Tax (EBT) 1 | - | -96.96 | 101.1 | 169.1 | 204.2 | 269.6 | 304.7 |
| Net income 1 | - | -136 | 51.48 | 121.5 | 132.2 | 161.6 | 185.1 |
| Net margin | - | -10.46% | 3.42% | 6.38% | 6.48% | 7.21% | 7.77% |
| EPS 2 | -12.55 | -0.6700 | 0.2100 | 0.4800 | 0.5407 | 0.6450 | 0.7375 |
| Free Cash Flow 1 | - | 190.6 | - | 197.5 | 201 | 221.4 | - |
| FCF margin | - | 14.66% | - | 10.37% | 9.85% | 9.87% | - |
| FCF Conversion (EBITDA) | - | 62.75% | - | 47.57% | 44.42% | 41.86% | - |
| FCF Conversion (Net income) | - | - | - | 162.52% | 152.01% | 136.97% | - |
| Dividend per Share 2 | - | 0.0825 | 0.1000 | 0.1200 | 0.1608 | 0.2042 | 0.2438 |
| Announcement Date | 8/27/21 | 4/6/22 | 4/6/23 | 4/5/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 692 | 377.6 | 351.4 | 735 | - | 771.8 | 428.3 | 474.7 | 903.1 | 431.1 | 570.4 | 1,001 | 457 | - | 960.9 | - | - | 1,137 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 82.3 | 38.89 | 38.89 | 82.68 | - | 75.05 | - | - | 119.9 | - | - | 100.3 | - | - | 101.4 | - | - | 152.9 | - |
| Operating Margin | 11.89% | 10.3% | 11.07% | 11.25% | - | 9.72% | - | - | 13.28% | - | - | 10.02% | - | - | 10.55% | - | - | 13.44% | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | 0.0300 | 0.0300 | - | - | - | - | - | 0.1900 | - | - | 0.2900 | - | - | 0.2000 | - | - | 0.3400 | - |
| Dividend per Share 2 | - | - | - | - | 0.1000 | - | - | - | - | - | 0.1200 | - | - | - | - | - | 0.1787 | - | - |
| Announcement Date | 4/6/22 | 5/5/22 | 8/26/22 | 8/26/22 | 4/6/23 | 4/6/23 | 6/13/23 | 9/13/23 | 9/13/23 | 1/5/24 | 4/5/24 | 4/5/24 | - | - | - | - | - | - | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 607 | 660 | 700 | 584 | 443 | 410 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 1.999 x | 2.003 x | 1.686 x | 1.29 x | 0.8371 x | 0.7132 x |
| Free Cash Flow 1 | - | 191 | - | 198 | 201 | 221 | - |
| ROE (net income / shareholders' equity) | - | -22.6% | 8.04% | 16% | 13.6% | 15.4% | 16.2% |
| ROA (Net income/ Total Assets) | - | -5.58% | 2.11% | 4.68% | 4.18% | 4.83% | 5.36% |
| Assets 1 | - | 2,436 | 2,442 | 2,597 | 3,159 | 3,345 | 3,455 |
| Book Value Per Share 2 | - | 2.950 | 2.800 | - | 3.820 | 4.270 | 4.810 |
| Cash Flow per Share 2 | - | 1.370 | 0.6100 | 0.8400 | 1.030 | 1.210 | 1.340 |
| Capex 1 | - | 90.5 | 73.3 | 77.9 | 164 | 172 | 169 |
| Capex / Sales | - | 6.96% | 4.86% | 4.09% | 8.05% | 7.66% | 7.1% |
| Announcement Date | 8/27/21 | 4/6/22 | 4/6/23 | 4/5/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
11.27
EUR
Average target price
13.72
EUR
Spread / Average Target
+21.75%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.98% | 3.01B | |
| +7.99% | 422B | |
| +4.73% | 143B | |
| -28.67% | 45.92B | |
| +16.55% | 18.73B | |
| +15.45% | 10.64B | |
| +27.75% | 8.41B | |
| +0.96% | 6.83B | |
| -9.08% | 6.41B | |
| +29.34% | 6.32B |
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- Financials Ermenegildo Zegna N.V.
