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Ermenegildo Zegna N.V. ZGN

Growth Flags show if company had growth for consecutive years ,
Insider Buys alert about insiders buying in the last 12 month

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Get access to target analyst prices, predictions, compound annual growth rates and more than four years of historical data.

Insider Decisions

Total sells
0.71
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy 1
Sell 6
Insider Ownership
67.25%

Capital & Financial Ratios

Market Cap
7,060.00
Revenue
3,345.79
Net Income
178.01
Free Cash Flow
312.56
Net Debt
(2.23)
Current Ratio
1.47
Debt/Equity
0.20
P/E ratio
39.65
P/S ratio
0.90
P/B ratio
2.32
Past 5Y EPS Growth
This Y EPS Growth
6.71%
Next Y EPS Growth
34.89%
Next 5Y EPS Growth
19.90%
in millions of $

Dividends

Payout Ratio
0.29
Annual Dividend Rate
0.11
Annual Dividend Yield
1.05%
total individual payouts
2028 ‡‡‡‡‡
2027 ‡‡‡‡‡
2026 0.14
2025 0.14
2024 0.13
2023 0.11
2022 0.09
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 320.66 237.12 249.04 263.60
Receivables 293.82 304.39 294.42 263.80
Inventory 565.60 563.79 573.51 633.37
Other 213.52 199.89 229.63 233.00
1,393.61 1,305.19 1,346.61 1,393.78
2023 2024 2025 Q'26
Payables 339.99 335.20 369.11 368.65
ST’ Debt 313.15 191.71 95.11 112.38
Other 264.11 206.25 195.03 254.99
1,095.42 922.91 848.99 949.26
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26
’25
2,168.83
’24
2,106.47
’23 975.83
2,061.29
’22 796.27 773.96
1,587.55
’22
1,569.00
’21 799.72
1,538.81
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 183.51
’25 120.01
379.65
’24 129.71
302.05
’23 117.31
298.05
’22 30.99 117.34
154.24
’22
153.86
’21 (1.64) (0.22) (0.13) 334.63
332.63
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 109.10
’25 58.75
263.24
’24 65.01
166.21
’23 79.69
213.76
’22 4.08 117.34
77.02
’22
153.86
’21 (1.64) (0.22) (0.13) 227.52
225.52
in millions of $

EPS

Mar Jun Sep Dec Year
’26
’25
0.43
’24
0.32
’23 0.20
0.52
’22 0.06 0.16
0.22
’22
0.22
’21 0.26 (0.10) (0.11)
(0.79)

Target Price Range

High
‡‡‡‡‡
‡‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

2
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ 8.89 10.14 7.13 6.05
Low Price
‡‡‡‡‡ 12.06 16.36 15.26 11.00
High Price
‡‡‡‡‡ 6,256 7,201 7,395 7,437
Employees
‡‡‡ 0.00 0.29 0.28 0.29
Revenue/Emp
‡‡‡‡‡ 1,569.00 2,061.29 2,106.47 2,168.83 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ 11.85% 64.28% 66.60% 67.51%
Gross Margin
‡‡‡ ‡‡‡‡‡ 106.00 183.01 141.33 158.44
EBT
‡‡‡ ‡‡‡‡‡ 6.76% 8.88% 6.71% 7.31% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡ ‡‡‡ ‡‡‡‡‡ 54.00 146.83 98.32 123.87 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ 180.64 211.00 255.32 294.08
Depreciation
‡‡‡ ‡‡‡‡‡ 6.59 8.34 8.37 8.35 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡‡ 0.23 0.53 0.34 0.43 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ 0.65 1.21 1.20 1.46
Cash Flow/Sh
‡‡‡ ‡‡‡ 0.00 (0.34) (0.54) (0.45) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ 0.65 0.87 0.66 1.01
Free CF/Sh
‡‡‡ ‡‡‡‡‡ 3.05 3.95 4.23 4.79
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ 238.00 247.02 251.53 259.60 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ 269.75 36.45 26.65 33.06 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡ 0.00 0.82 0.60 0.75 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡ 2.88 3.11 2.05 2.31 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡ 0.00 0.87 0.65 0.81 ‡‡‡‡ ‡‡‡‡ ‡‡‡
EV/Sales
‡‡‡ 7.20 6.21 13.77 9.24
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ 153.86 298.05 302.05 379.65 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ (77.04) (84.29) (135.83) (116.42) ‡‡‡‡‡
Capex
‡‡‡‡‡ ‡‡‡‡‡ 153.86 213.76 166.21 263.24
FCF
‡‡‡‡‡ ‡‡‡‡‡ 447.00 298.19 382.28 497.61
Working Cap'
‡‡‡‡‡ 976.00 435.76 404.24 278.54
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ 367.00 115.10 167.12 29.49
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ 725.00 975.04 1,063.58 1,243.50
Sh' Equity
‡‡‡ ‡‡‡‡‡ 1.96% 4.74% 2.75% 3.56%
ROA
‡‡‡ ‡‡‡ 0.00% 12.92% 9.17% 7.75%
ROIC
‡‡‡ ‡‡‡‡‡ 7.26% 15.06% 8.18% 9.67%
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Ermenegildo Zegna N.V. (ZGN) has roared back from pandemic lows, delivering a stunning 38% revenue CAGR since its 2021 SPAC debut, surging from $1.53 billion to $2.11 billion in 2024. Fueled by the game-changing Tom Ford acquisition and booming Asia-Pacific demand, the luxury menswear icon maintains high employee productivity even as headcount grows, with analysts forecasting steady climbs to $2.56 billion by 2027. Gross margins have exploded from 8.3% to 66.6%, flipping losses into profits—net income hit $98 million in 2024, with EPS projected to rise 74% to $0.59 by 2027.

Zegna’s balance sheet is rock-solid, with net debt slashed 86% to $167 million, positive free cash flow at $166 million, and ROIC at 9.2%, supporting aggressive investments in stores, digital, and high-margin categories like beauty. Valuation looks tasty: forward P/E at 18.7x by 2027, PS ratio at a dirt-cheap 0.60x for 66%+ margins, trading near the top of analyst targets amid luxury sector rotation.

Insiders are quiet but confident in this family-controlled gem, and with tailwinds from millennial wealth and sustainable innovation, ZGN is primed for 20%+ EPS compounding and potential 20-30% stock rerating on earnings beats. Dive into the full analysis for the charts, peer comps, and why this could be your next luxury growth winner.

Ermenegildo Zegna N.V. (ZGN) Latest News

News by impact score

Fine-tune

5 Sep

3 , 1:07 PM
Ermenegildo Zegna N.V. (ZGN) shares fell 8.5% after earnings per share weakened, even as the company reaffirmed its 2027 targets. Softened EPS triggered an immediate 8.5% stock drop for Zegna but reaffirmed 2027 targets limit broader long-term shifts.

3 , 1:05 AM
Ermenegildo Zegna reported mixed first half 2026 results. Performance showed uneven revenue and profit trends across segments. The results raise questions over whether the company's valuation premium remains justified. Mixed half-year results point to moderate effects on Zegna's financial path and investor views without major strategic shifts.

4 Sep

3 , 1:22 PM
Ermenegildo Zegna N.V. reported a surge in direct sales that failed to fully offset messier profits. Mixed earnings with sales growth offset by profit weakness point to moderate near-term effects on operations and sentiment.

3 Sep

3 , 3:00 PM
Ermenegildo Zegna NV reported adjusted EBIT rising to EUR74 million for H1 2026 during its earnings call. H1 2026 earnings show adjusted EBIT growth that may support short-term stock sentiment without altering long-term strategy.

3 transcript app.moby.co, 1:17 PM
Ermenegildo Zegna N.V. held its Q2 2026 earnings call covering financial results and operational updates. Quarterly earnings releases deliver financial metrics that influence near-term stock movement and sentiment.

3 transcript www.marketbeat.com, 10:03 AM
Ermenegildo Zegna N.V. presented H1 earnings call highlights covering financial results and operational updates. H1 earnings highlights can shift near-term investor sentiment and valuation metrics.

3 , 6:32 AM
Ermenegildo Zegna Group reported first half 2026 revenues of €987 million, profit of €28 million, and adjusted EBIT of €74 million. Half-year financial results moderately influence investor sentiment and near-term stock performance.

3 wwd.com, 5:27 AM
Ermenegildo Zegna N.V. reported higher first-half operating profit driven by improved margins at the Zegna brand. H1 operating profit increase from Zegna brand margins signals better profitability that may support near-term sentiment but does not indicate major strategic change.

23 Jul

4 , 6:32 AM
Ermenegildo Zegna Group posted double-digit revenue growth in Q2 2026 with accelerating DTC momentum. Double-digit revenue growth with accelerating DTC momentum signals stronger operational results and improved market positioning for Ermenegildo Zegna.

3 transcript www.marketbeat.com, 11:04 PM
Ermenegildo Zegna N.V. held its Q2 earnings call, covering financial results, revenue trends, brand performance, and outlook for luxury menswear markets. Q2 earnings updates typically affect near-term investor views and stock movement without fundamentally shifting long-term strategy.

18 Jun

3 , 7:53 AM
Goldman Sachs downgrades Ermenegildo Zegna N.V. (ZGN) after the luxury stock outperforms peers. Goldman Sachs downgrade exerts moderate pressure on ZGN investor sentiment and near-term stock performance.

4 May

3 Simply Wall St., 3:10 AM
Ermenegildo Zegna N.V. (ZGN) reports modest Q1 gain and announces dividend plan, sparking debate on whether it exposes true capital allocation priorities. Modest Q1 results and dividend plan moderately influence financial performance and investor views on capital priorities.

2 May

3 www.marketbeat.com, 4:07 PM
Ermenegildo Zegna N.V. (ZGN) Q1 earnings call highlights strong revenue growth, improved profitability, expansion in key markets like Asia, and optimistic full-year guidance amid luxury sector challenges. Q1 earnings highlights signal solid quarterly performance with growth but no transformative strategic shifts.

30 Apr

3 Business Wire, 6:02 AM
Ermenegildo Zegna Group reported Q1 2026 revenues of €470 million, a solid start to the year driven by strong direct-to-consumer performance. Solid Q1 revenues with strong DTC performance signal moderately positive financial momentum without fundamentally altering long-term trajectory.

21 Mar

3 Simply Wall St., 4:05 PM
Zegna (NYSE:ZGN) shows profit growth and strong cash position, prompting valuation reassessment. Profit growth and strong cash position moderately boost ZGN's financial outlook and investor sentiment.

20 Mar

4 GuruFocus.com, 3:00 PM
Ermenegildo Zegna NV (ZGN) full-year 2025 earnings call highlights a profit surge and strategic initiatives amid strong performance. Profit surge and strategic initiatives in full-year 2025 earnings indicate significant positive shifts in financial performance and market positioning for ZGN.

4 GuruFocus.com, 1:52 PM
Ermenegildo Zegna N.V. (ZGN) shares dropped 18% as Middle East war escalates concerns over declining luxury demand. Middle East war clouds luxury demand, triggering an 18% share plunge with potential to significantly alter market performance.

4 www.marketbeat.com, 10:06 AM
Ermenegildo Zegna N.V. (ZGN) released H2 earnings call highlights detailing financial performance, growth in key segments, strategic updates, and outlook amid luxury market dynamics. H2 earnings call highlights provide critical financial metrics and strategic insights that significantly influence ZGN's valuation and market trajectory.

4 Business Wire, 7:05 AM
Ermenegildo Zegna Group reported full-year 2025 profit of €109 million, up 20% year-over-year, with a cash surplus of €52 million. 20% YoY profit growth to €109 million and €52 million cash surplus indicate strong financial performance boosting investor confidence and future prospects.

7 Feb

4 Insider Monkey, 11:11 AM
Ermenegildo Zegna N.V. (ZGN) is positioned for growth due to its strong brand heritage, focus on sustainability, and expansion into new markets. The company is leveraging digital transformation and enhancing its product offerings to attract a broader customer base. Recent strategic initiatives, including collaborations and innovative marketing campaigns, are expected to bolster its competitive edge. Analysts suggest that Zegna's commitment to quality and craftsmanship will resonate well with consumers, particularly in the luxury segment, potentially leading to increased sales and market share. Significant strategic initiatives and market expansion efforts are likely to alter the company's trajectory and investor sentiment.

5 Feb

4 Investing.com, 9:45 AM
UBS has upgraded Ermenegildo Zegna N.V. (ZGN) to a Buy rating, citing stronger demand in Western markets. This upgrade reflects a positive outlook for the luxury fashion brand as consumer interest increases, potentially boosting Zegna's sales and market position. The upgrade indicates a significant shift in market dynamics that could enhance Zegna's financial performance and investor sentiment.

3 Feb

3 Simply Wall St., 5:09 PM
Ermenegildo Zegna N.V. reported flat revenue for Q4, raising concerns about potential shifts in brand momentum. Despite stable sales figures, analysts are questioning whether this stagnation indicates deeper issues within the luxury fashion market. The company’s performance may reflect broader trends affecting high-end brands, as consumer preferences evolve and competition intensifies. Investors are advised to monitor Zegna's strategic responses to these challenges, as the brand navigates a complex retail landscape. Flat revenue in Q4 suggests potential challenges in brand momentum that could moderately influence financial performance.

3 Simply Wall St., 4:09 PM
Ermenegildo Zegna N.V. (ZGN) is currently experiencing share price weakness, leading to discussions about its valuation. Analysts are assessing the company's financial health and market position, suggesting that the stock may be undervalued. Factors influencing this assessment include recent market trends and Zegna's strategic initiatives aimed at enhancing brand appeal and operational efficiency. Investors are encouraged to consider these elements when evaluating Zegna's future performance. Current share price weakness and valuation discussions indicate a moderately noticeable influence on Zegna's financial performance and market sentiment.

2 Feb

4 transcript www.marketbeat.com, 1:58 PM
Ermenegildo Zegna N.V. reported its Q4 earnings, highlighting strong sales growth driven by increased demand in key markets. The company emphasized its commitment to sustainability and innovation, unveiling new product lines and strategic initiatives aimed at enhancing brand presence. Management expressed optimism about future performance, citing positive consumer trends and expansion plans. Overall, the earnings call reflected a robust outlook for the luxury fashion brand. Strong sales growth and strategic initiatives indicate significant potential for future performance.

4 , 6:35 AM
Ermenegildo Zegna Group reported FY 2025 revenues of €1,917 million, showing an improvement in Q4 driven by direct-to-consumer (DTC) sales at the ZEGNA brand. The results indicate a positive trend in the company's performance, particularly in the DTC segment, which is crucial for future growth. The improvement in Q4 revenues driven by DTC sales indicates a significant strategic shift that could enhance future performance.

29 Jan

3 www.retail-insight-network.com, 9:23 AM
Amazon and several luxury groups have joined the creditors panel for Saks, which is currently undergoing a restructuring process. This development indicates a growing interest from major players in the luxury retail sector regarding Saks' financial situation and potential recovery strategies. The involvement of Amazon suggests a possible shift in retail dynamics, as the company explores opportunities within the luxury market. The involvement of major companies like Amazon in Saks' restructuring could influence market dynamics and competitive positioning in the luxury sector.

16 Jan

4 www.fool.com, 7:21 PM
Ermenegildo Zegna N.V. (ZGN) shares fell over 13% due to disappointing quarterly earnings, which revealed a decline in revenue and a wider net loss compared to the previous year. The luxury fashion brand faced challenges in its North American market, contributing to concerns about its growth trajectory. Analysts expressed worries about the company's ability to navigate current market conditions and maintain profitability, leading to a significant sell-off in its stock. Disappointing earnings and revenue decline indicate significant challenges that could alter the company's growth trajectory.

9 Jan

3 Simply Wall St.Simply Wall St., 9:13 AM
Ermenegildo Zegna N.V. (ZGN) has seen a 5.5% increase in its stock price over the past week. However, the company's earnings have declined over the last year, raising concerns about its financial performance and future outlook. Earnings decline may moderately affect investor sentiment and financial performance.

10 Dec

3 Investor's Business Daily, 8:01 AM
Ermenegildo Zegna N.V. (ZGN) is gaining attention among top investment funds as a competitor to Ralph Lauren. The company's strategic positioning and market performance are being closely monitored, indicating potential growth and interest from major investors. Zegna's brand strength and luxury market presence are highlighted as key factors contributing to its appeal in the fashion industry. Zegna's growing recognition among top funds suggests a moderate influence on its market positioning and investor sentiment.

29 Nov

4 Simply Wall St., 9:07 PM
Ermenegildo Zegna N.V. is undergoing a multi-generational leadership transition, which is expected to significantly influence the company's strategic direction and market positioning. This change aims to blend traditional craftsmanship with modern innovation, potentially enhancing brand appeal and operational efficiency. The leadership shift is seen as a pivotal moment for Zegna, aligning with evolving consumer preferences and market dynamics. The leadership transition is likely to lead to significant strategic changes that could alter the company's trajectory and investor sentiment.

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