Saturday 31 October 2026 Export ZGN’s income statement to Excel — free account

Ermenegildo Zegna N.V.

ZGN Consumer Cyclical Apparel Manufacturing

Ermenegildo Zegna N.V.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 2.96% from fiscal 2024. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

13.46 0.05 +0.37%

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Market cap: $5.7B
P/E: 0.0×
Fwd P/E: 32.1×
Dividend yield: 0.89%
F-score: 7/9
Altman Z: 2.20
Beneish M: −2.85
Dividend safety: 66/100

Overview Business Profile Financial Analysis

Insider Decisions trades per month

Total sells 0.81

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	—	—	—	—	—
Sell	—	—	—	—	—	—	6	—	—	—	—	1

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 5,680.00

Revenue 3,345.79

Net Income 110.59

Free Cash Flow 529.88

Net Debt (2.23)

Current Ratio 1.47

Debt/Equity 0.20

P/E ratio 0.00

Fwd P/E 32.10

P/S ratio 0.04

P/B ratio 0.10

Past 5Y EPS Growth —

This Y EPS Growth 5.80%

Next Y EPS Growth 35.53%

Next Y revenue growth 6.72%

Next 5Y EPS Growth 19.64%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 82.58%

10-year low 10-year high

P/B against its own 10 years 33.96%

10-year low 10-year high

EV/Sales against its own 10 years 6.09%

10-year low 10-year high

EV/FCF against its own 10 years 4.12%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.12

Annual Dividend Yield 0.89%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.12	0.12
2025	0.14	0.14
2024	0.13	0.13
2023	0.11	0.11
2022	0.09	0.09

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	321	237	249	264
Receivables	294	304	294	264
Inventory	566	564	574	633
Other	214	200	230	233
	1,394	1,305	1,347	1,394

	2023	2024	2025	Q'26
Payables	340	335	369	369
ST’ Debt	313	192	95	112
Other	264	206	195	255
	1,095	923	849	949

Compound Annual Growth %

	10y	5y	3y
Sales	—	7.10%	10.96%
Cash Flow	—	410.50%	35.02%
Earnings	—	0.00%	27.16%
Book Value	—	201.39%	17.24%

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	—	0.43
’24	—	—	—	—	0.32
’23	—	—	—	—	0.52
’22	—	—	—	—	0.22
’21	1.38	(0.50)	0.00	(0.01)	(0.79)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	—	2,169
’24	—	—	—	—	2,106
’23	—	—	—	—	2,061
’22	—	—	—	—	1,588

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	184	—	—	—
’25	—	120	—	—	380
’24	—	130	—	—	302
’23	—	—	—	—	298
’22	—	—	—	—	154
’21	(2)	0	0	0	333

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	184	—	—	—
’25	—	120	—	—	263
’24	—	130	—	—	166
’23	—	117	—	—	214
’22	—	31	—	117	77
’22	—	—	—	—	154
’21	(2)	0	0	335	226

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	—	—	—	—	—	9.59	8.89	10.14	7.13	6.05		(10.9%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	—	—	—	—	—	12.65	12.06	16.36	15.26	11.00		(3.4%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	—	—	—	—	—	6,049	6,256	7,201	7,395	7,437		+5.3%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	—	—	—	—	—	0.25	0.25	0.29	0.28	0.29		+3.5%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	—	—	—	—	—	1,539	1,588	2,061	2,106	2,169		+9.0%	2,315	2,510	2,685	+7.4%
	Gross margin, %	—	—	—	—	—	76.20	79.34	64.28	66.60	67.51		(8.7) pt	Powerpack Ermenegildo Zegna N.V.’s next three years, line by line Analysts expect revenue to grow 7.4% a year to 2028 — slower than the 9.0% of the last 4 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	—	—	—	—	0	(115)	106	183	141	158		n/m
	EBT margin, %	—	—	—	—	0.00	(7.45)	6.71	8.88	6.71	7.31		+7.3 pt
	Net income	—	0	—	—	0	(151)	69	147	98	124		n/m
	Depreciation	—	—	—	—	—	193	183	211	255	294		+11.1%
Per share, $
Per share, $	Revenue	—	—	—	—	0.00	7.56	6.68	8.34	8.37	8.35		n/m
	Earnings	—	—	—	—	(0.01)	(0.79)	0.23	0.53	0.34	0.43		n/m
	Cash flow	—	—	—	—	0.00	1.63	0.65	1.21	1.20	1.46		+266.9%
	Capex	—	—	—	—	0.00	(0.53)	(0.33)	(0.34)	(0.54)	(0.45)		n/m
	Free cash flow	—	—	—	—	0.00	1.11	0.32	0.87	0.66	1.01		+241.0%
	Book value	—	—	—	—	0.10	3.75	3.25	3.95	4.23	4.79		+116.8%
	Shares, m	—	—	—	—	50	204	238	247	252	260		+39.0%
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00		0.0
	P/S	—	—	—	—	—	0.00	0.00	0.03	0.02	0.03		0.0
	P/B	—	—	—	—	—	0.14	0.14	0.13	0.08	0.10		0.1
	EV/Sales	—	—	—	—	—	0.00	0.00	0.08	0.08	0.09		0.1
	EV/FCF	—	—	—	—	—	0.92	0.98	0.57	1.13	0.81		0.9
Cash, $m
Cash, $m	Operating cash flow	—	—	—	—	0	333	154	298	302	380		+410.5%
	Capex	—	—	—	—	—	(107)	(77)	(84)	(136)	(116)		+2.1%
	Free cash flow	—	—	—	—	0	226	77	214	166	263		+374.4%
Balance, $m
Balance, $m	Working capital	—	—	—	—	1	807	441	298	382	498		+246.2%
	Total debt	—	—	—	—	—	744	496	436	404	279		(21.8%)
	Net debt	—	—	—	—	(1)	200	228	115	167	29		n/m
	Shareholders’ equity	—	—	—	—	5	762	772	975	1,064	1,244		+201.4%
Returns, %
Returns, %	ROA	—	—	—	—	0.00	(9.72)	1.99	4.74	2.75	3.56		+3.6 pt
	ROIC	—	—	—	—	0.00	(7.22)	9.73	12.92	9.17	7.75		+7.8 pt
	ROE	—	—	—	—	0.00	(41.94)	7.07	15.06	8.18	9.67		+9.7 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jan 0001 · fundamentals updated 26 Oct 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LEVI Levi Strauss & Co.	$8.7B	14.8×	13.9×	+4.30% (above 0%: growing)	−20.60% (below 0%: shrinking)	+212.72% (above 0%: growing)	66.21%	13.81%	Compare
VFC V.F. Corporation	$7.2B	25.7×	15.6×	−5.18% (below 0%: shrinking)	n/m	+50.99% (above 0%: growing)	54.93%	(4.98%)	Compare
ZGN Ermenegildo Zegna N.V.	$5.7B	— (loss-making)	32.1×	—	n/m	+56.38% (above 0%: growing)	55.40%	0.00%
KTB Kontoor Brands, Inc.	$4.1B	15.3×	13.9×	−11.24% (below 0%: shrinking)	−11.28% (below 0%: shrinking)	+104.36% (above 0%: growing)	56.18%	15.49%	Compare
PVH PVH Corp.	$4.1B	— (loss-making)	14.2×	−3.24% (below 0%: shrinking)	n/m	+111.16% (above 0%: growing)	63.03%	(9.10%)	Compare
FIGS FIGS, Inc.	$3.6B	57.6×	55.2×	+28.81% (above 0%: growing)	+325.00% (above 0%: growing)	+427.35% (above 0%: growing)	75.20%	17.93%	Compare
COLM Columbia Sportswear Company	$3.3B	17.4×	13.1×	+1.51% (above 0%: growing)	n/m	+324.26% (above 0%: growing)	58.34%	5.03%	Compare
UA Under Armour, Inc.	$2.1B	— (loss-making)	—	−3.19% (below 0%: shrinking)	n/m	+600.79% (above 0%: growing)	54.09%	4.26%	Compare
UAA Under Armour, Inc.	$2.1B	— (loss-making)	435×	−3.19% (below 0%: shrinking)	n/m	+600.79% (above 0%: growing)	54.09%	4.26%	Compare
Median of peers	$3.8B	17.4×	14.2×	−3.19%	−11.28%	+268.49%	57.26%	4.65%

All 23 Apparel Manufacturing stocks →