Sunday 11 October 2026
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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.
12.68
0.16
+1.28%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | 10.11 | 8.89 | 10.14 | 7.13 | 6.05 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | 12.65 | 12.06 | 16.36 | 15.26 | 11.00 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | 6,049 | 6,256 | 7,201 | 7,395 | 7,437 | ||||
| Revenue/emp, $m | — | — | — | — | — | 0.25 | 0.25 | 0.29 | 0.28 | 0.29 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 1,539 | 1,588 | 2,061 | 2,106 | 2,169 | ||||
| Gross margin, % | — | — | — | — | — | 76.20 | 79.34 | 64.28 | 66.60 | 67.51 | |||||
| EBT | — | — | — | — | 0 | (115) | 106 | 183 | 141 | 158 | |||||
| EBT margin, % | — | — | — | — | 0.00 | (7.45) | 6.71 | 8.88 | 6.71 | 7.31 | |||||
| Net income | — | 0 | — | — | 0 | (151) | 69 | 147 | 98 | 124 | |||||
| Depreciation | — | — | — | — | — | 193 | 183 | 211 | 255 | 294 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 7.56 | 6.68 | 8.34 | 8.37 | 8.35 | ||||
| Earnings | — | — | — | — | (0.01) | (0.79) | 0.23 | 0.53 | 0.34 | 0.43 | |||||
| Cash flow | — | — | — | — | 0.00 | 1.63 | 0.65 | 1.21 | 1.20 | 1.46 | |||||
| Capex | — | — | — | — | 0.00 | (0.53) | (0.33) | (0.34) | (0.54) | (0.45) | |||||
| Free cash flow | — | — | — | — | 0.00 | 1.11 | 0.32 | 0.87 | 0.66 | 1.01 | |||||
| Book value | — | — | — | — | 0.10 | 3.75 | 3.25 | 3.95 | 4.23 | 4.79 | |||||
| Shares, m | — | — | — | — | 50 | 204 | 238 | 247 | 252 | 260 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | — | 0.00 | 0.00 | 0.69 | 0.50 | 0.62 | |||||
| P/B | — | — | — | — | — | 2.80 | 2.92 | 2.59 | 1.71 | 1.93 | |||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 0.73 | 0.55 | 0.69 | |||||
| EV/FCF | — | — | — | — | — | 7.01 | 5.15 | 5.23 | 8.14 | 5.84 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | 333 | 154 | 298 | 302 | 380 | ||||
| Capex | — | — | — | — | — | (107) | (77) | (84) | (136) | (116) | |||||
| Free cash flow | — | — | — | — | 0 | 226 | 77 | 214 | 166 | 263 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 1 | 807 | 441 | 298 | 382 | 498 | ||||
| Total debt | — | — | — | — | — | 744 | 496 | 436 | 404 | 279 | |||||
| Net debt | — | — | — | — | (1) | 200 | 228 | 115 | 167 | 29 | |||||
| Shareholders’ equity | — | — | — | — | 5 | 762 | 772 | 975 | 1,064 | 1,244 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | 0.00 | (9.72) | 1.99 | 4.74 | 2.75 | 3.56 | ||||
| ROIC | — | — | — | — | 0.00 | (7.22) | 9.73 | 12.92 | 9.17 | 7.75 | |||||
| ROE | — | — | — | — | 0.00 | (41.94) | 7.07 | 15.06 | 8.18 | 9.67 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jan 0001
Charts ten years each
Ermenegildo Zegna N.V. vs peers in Apparel Manufacturing (Q) = latest quarter vs a year earlier
| 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. | $7.3B | 12.3× | 14.7× | +4.30% (above 0%: growing) | −20.60% (below 0%: shrinking) | +37.20% (above 0%: growing) | 66.21% | 13.81% | Compare |
| VFC V.F. Corporation | $5.7B | 21.2× | 15.8× | −5.18% (below 0%: shrinking) | n/m | +50.99% (above 0%: growing) | 54.93% | (4.98%) | Compare |
| ZGN Ermenegildo Zegna N.V. | $5.3B | — (loss-making) | 32.9× | — | n/m | +56.38% (above 0%: growing) | 55.40% | 0.00% | |
| PVH PVH Corp. | $3.7B | — (loss-making) | 6.4× | −3.24% (below 0%: shrinking) | n/m | +111.16% (above 0%: growing) | 63.03% | (9.10%) | Compare |
| KTB Kontoor Brands, Inc. | $3.6B | 13.6× | 13.2× | +18.61% (above 0%: growing) | −11.28% (below 0%: shrinking) | +104.36% (above 0%: growing) | 56.18% | 15.49% | Compare |
| COLM Columbia Sportswear Company | $2.9B | 14.8× | 16.7× | +1.51% (above 0%: growing) | n/m | +324.26% (above 0%: growing) | 58.34% | 5.03% | Compare |
| FIGS FIGS, Inc. | $2.5B | 42.6× | 45.7× | +28.81% (above 0%: growing) | +325.00% (above 0%: growing) | +427.35% (above 0%: growing) | 75.20% | 17.93% | Compare |
| UAA Under Armour, Inc. | $2.1B | — (loss-making) | 59.6× | −3.19% (below 0%: shrinking) | n/m | +600.79% (above 0%: growing) | 54.09% | 4.26% | 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 |
| Median of peers | $3.3B | 14.8× | 15.8× | −0.84% | −11.28% | +217.71% | 57.26% | 4.65% |
Ermenegildo Zegna N.V. (ZGN) key facts
- Strength: Ermenegildo Zegna N.V.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 2.96% from fiscal 2024.
- Ermenegildo Zegna N.V. (ZGN) is an Apparel Manufacturing company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
- As of October 9, 2026, ZGN traded at $12.68, a market capitalization of $5.3 billion.
- Ermenegildo Zegna N.V. pays an annual dividend of $0.12 per share, a yield of 0.94%.
- Return on equity was 9.67% and debt-to-equity 0.20.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.20 (grey zone) for fiscal 2025.
Ermenegildo Zegna N.V. (ZGN) Latest News
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