Ermenegildo Zegna N.V. (ZGN) 10-Year Financial Performance & Capital Metrics

ZGN • • Industrial / General

Consumer CyclicalApparel ManufacturingLuxury & Premium FashionLuxury Fashion Houses

AboutErmenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances. The company also offers luxury womenswear and childrenswear under the Thom Browne brand, as well as provides eyewear, cufflinks and jewelry, watches, underwear, and beachwear manufactured by third parties under licenses. It serves customers through its retail stores and online channels in Europe, the Middle East, Africa, North America, Latin America, the Asia Pacific, and internationally. The company was founded in 1910 and is based in Trivero, Italy. Ermenegildo Zegna N.V. is a subsidiary of Monterubello Societa' Semplice.Show more

Revenue $1.95B +2.2%
EBITDA $403M +0.4%
Net Income $77M -36.6%
EPS (Diluted) 0.30 -37.5%
Gross Margin 66.6% +3.6%
EBITDA Margin 20.69% -1.8%
Operating Margin 8.57% -21.6%
Net Margin 3.96% -37.9%
ROE 8.18% -45.0%
ROIC 7.36% -29.4%
Debt/Equity 1.05 -4.8%
Interest Coverage 4.21 -38.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 28.8%
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y8.06%

3Y14.63%

TTM25.52%

Profit (Net Income) CAGR

10Y-

5Y28.8%

3Y-

TTM393.41%

EPS CAGR

10Y-

5Y27.31%

3Y-

TTM230.29%

ROCE

10Y Avg4.68%

5Y Avg4.82%

3Y Avg10.14%

Latest8.93%

Peer Comparison

Luxury Fashion Houses

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ZGNErmenegildo Zegna N.V.	2.8B	11.02	36.73	2.21%	5.05%	20.55%	5.49%	1.05
RLRalph Lauren Corporation	14.31B	369.15	31.80	6.75%	11.28%	33.08%	7.12%	1.03
VNCEVince Holding Corp.	39.35M	2.95	-1.95	0.19%	-6.2%	-34.39%	45.3%	2.93

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.18B	1.32B	1.02B	1.29B	1.49B	1.9B	1.95B
Revenue Growth %	-	0.12%	-0.23%	0.27%	0.16%	0.28%	0.02%
Cost of Goods Sold+	300.77M	389.51M	315.96M	367.27M	749.25M	680.24M	650.09M
COGS % of Revenue	0.25%	0.29%	0.31%	0.28%	0.5%	0.36%	0.33%
Gross Profit+	881.79M	931.82M	698.77M	925.13M	928.01M	1.22B	1.3B
Gross Margin %	0.75%	0.71%	0.68%	0.72%	0.62%	0.64%	0.67%
Gross Profit Growth %	-	0.06%	-0.25%	0.32%	0%	0.32%	0.06%
Operating Expenses+	778.02M	823.3M	560.46M	840.88M	780.23M	1.02B	1.13B
OpEx % of Revenue	0.66%	0.62%	0.55%	0.65%	0.52%	0.53%	0.58%
Selling, General & Admin	610.05M	641.81M	510.31M	673.95M	764.42M	1.02B	1.13B
SG&A % of Revenue	0.52%	0.49%	0.5%	0.52%	0.51%	0.53%	0.58%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	167.97M	181.5M	50.15M	166.92M	15.81M	0	0
Operating Income+	94.8M	88.64M	-22.55M	-94.03M	147.78M	208.15M	166.85M
Operating Margin %	0.08%	0.07%	-0.02%	-0.07%	0.1%	0.11%	0.09%
Operating Income Growth %	-	-0.06%	-1.25%	-3.17%	2.57%	0.41%	-0.2%
EBITDA+	255.39M	265.71M	143.65M	60.17M	319.66M	401.32M	402.8M
EBITDA Margin %	0.22%	0.2%	0.14%	0.05%	0.21%	0.21%	0.21%
EBITDA Growth %	-	0.04%	-0.46%	-0.58%	4.31%	0.26%	0%
D&A (Non-Cash Add-back)	160.59M	177.07M	166.21M	154.19M	171.88M	193.17M	235.95M
EBIT	87.72M	87.99M	-15.18M	-83.06M	163.62M	199.78M	170.28M
Net Interest Income+	-31.37M	-22.78M	-12.53M	-11.44M	-14.3M	-25.69M	-37.1M
Interest Income	7.36M	6.16M	3.85M	2.46M	1.73M	5M	2.57M
Interest Expense	17.82M	18.76M	16.38M	13.9M	16.02M	30.69M	39.67M
Other Income/Expense	-24.89M	-19.41M	-9M	-2.93M	-46.7M	-39.05M	-36.24M
Pretax Income+	69.91M	69.23M	-31.56M	-96.96M	101.08M	169.09M	130.61M
Pretax Margin %	0.06%	0.05%	-0.03%	-0.08%	0.07%	0.09%	0.07%
Income Tax+	29.39M	43.79M	14.98M	30.7M	35.8M	33.43M	39.75M
Effective Tax Rate %	0.54%	0.31%	1.6%	1.4%	0.51%	0.72%	0.59%
Net Income+	37.71M	21.75M	-50.58M	-136M	51.48M	121.53M	77.08M
Net Margin %	0.03%	0.02%	-0.05%	-0.11%	0.03%	0.06%	0.04%
Net Income Growth %	-	-0.42%	-3.33%	-1.69%	1.38%	1.36%	-0.37%
Net Income (Continuing)	40.51M	25.44M	-46.54M	-127.66M	65.28M	135.66M	90.86M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	34.21M	40.98M	43.27M	43.09M	53.37M	60.65M	66.77M
EPS (Diluted)+	0.16	0.09	-0.21	-0.67	0.21	0.48	0.30
EPS Growth %	-	-0.44%	-3.34%	-2.19%	1.31%	1.29%	-0.38%
EPS (Basic)	0.16	0.09	-0.21	-0.67	0.22	0.48	0.31
Diluted Shares Outstanding	242.34M	242.34M	222.43M	203.5M	240.65M	252.36M	254.24M
Basic Shares Outstanding	242.34M	242.34M	221.96M	203.5M	237.55M	253.19M	251.53M
Dividend Payout Ratio	0.35%	0.59%	-	-	0.42%	0.21%	0.39%

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.37B	1.25B	1.24B	1.38B	1.29B	1.29B	1.21B
Cash & Short-Term Investments	763.21M	595.06M	667.45M	800.17M	580.29M	387.03M	296.13M
Cash Only	218.33M	210.63M	317.29M	459.79M	254.32M	296.28M	219.13M
Short-Term Investments	544.88M	384.43M	350.16M	340.38M	318.67M	90.75M	77M
Accounts Receivable	161.71M	46.95M	138.83M	160.36M	177.21M	240.46M	281.56M
Days Sales Outstanding	49.91	12.97	49.67	45.29	43.33	46.08	52.79
Inventory	314.36M	78.65M	321.47M	338.48M	410.85M	522.59M	521.01M
Days Inventory Outstanding	381.49	73.7	371.36	336.38	200.15	280.41	292.53
Other Current Assets	101.36M	511.73M	111.4M	580.13M	117.3M	137.56M	107.45M
Total Non-Current Assets+	1.42B	1.39B	1.18B	1.07B	1.14B	1.48B	1.63B
Property, Plant & Equipment	771.86M	734.98M	595.77M	481.94M	501.65M	694.13M	786.24M
Fixed Asset Turnover	1.53x	1.80x	1.71x	2.68x	2.98x	2.74x	2.48x
Goodwill	213.72M	226.06M	208.88M	227.23M	239.71M	256.27M	275.63M
Intangible Assets	190.05M	193.92M	178.97M	197.99M	216.2M	316M	338.73M
Long-Term Investments	120.63M	81.88M	69.42M	54.1M	53.42M	51.55M	59.59M
Other Non-Current Assets	54.72M	96.32M	50.95M	3.72M	5.47M	160.77M	1.58M
Total Assets+	2.79B	2.64B	2.42B	2.46B	2.43B	2.77B	2.83B
Asset Turnover	0.42x	0.50x	0.42x	0.53x	0.62x	0.69x	0.69x
Asset Growth %	-	-0.06%	-0.08%	0.02%	-0.01%	0.14%	0.02%
Total Current Liabilities+	648.53M	607.38M	535.45M	702.32M	866.98M	1.01B	852.88M
Accounts Payable	228.97M	190.4M	150.26M	177.8M	220.79M	261.1M	248.6M
Days Payables Outstanding	277.86	178.42	173.58	176.7	107.56	140.1	139.58
Short-Term Debt	142.85M	120.28M	106.03M	157.29M	286.18M	289.34M	177.17M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	834.46K	1000K
Other Current Liabilities	171.46M	46.37M	47.39M	107.3M	96.14M	172.47M	62.66M
Current Ratio	2.12x	2.05x	2.31x	1.97x	1.48x	1.27x	1.41x
Quick Ratio	1.64x	1.92x	1.71x	1.49x	1.01x	0.76x	0.80x
Cash Conversion Cycle	153.54	-91.75	247.46	204.97	135.92	186.39	205.74
Total Non-Current Liabilities+	1.42B	1.3B	1.23B	1.11B	827.42M	853.99M	998.2M
Long-Term Debt	619.95M	521.82M	563.01M	471.65M	184.88M	113.28M	196.4M
Capital Lease Obligations	443.07M	405.64M	314.85M	331.41M	332.05M	471.08M	518.73M
Deferred Tax Liabilities	75.17M	76.15M	70.73M	53.84M	60.53M	73.89M	78.13M
Other Non-Current Liabilities	207.75M	0	3.78M	0	249.96M	195.74M	204.94M
Total Liabilities	2.07B	1.91B	1.77B	1.81B	1.69B	1.87B	1.85B
Total Debt+	1.31B	1.15B	1.08B	1.07B	914.56M	996.35M	1.04B
Net Debt	1.09B	939.63M	759.43M	607.2M	660.24M	700.07M	816.12M
Debt / Equity	1.81x	1.58x	1.67x	1.66x	1.25x	1.11x	1.05x
Debt / EBITDA	5.13x	4.33x	7.50x	17.73x	2.86x	2.48x	2.57x
Net Debt / EBITDA	4.28x	3.54x	5.29x	10.09x	2.07x	1.74x	2.03x
Interest Coverage	5.32x	4.73x	-1.38x	-6.76x	9.22x	6.78x	4.21x
Total Equity+	725.49M	729.75M	645.03M	644.3M	732.32M	900.95M	982.89M
Equity Growth %	-	0.01%	-0.12%	-0%	0.14%	0.23%	0.09%
Book Value per Share	2.99	3.01	2.90	3.17	3.04	3.57	3.87
Total Shareholders' Equity	691.28M	688.77M	601.76M	601.21M	678.95M	840.29M	916.12M
Common Stock	4.3M	1.07M	4.3M	5.94M	5.94M	9.15M	9.15M
Retained Earnings	936.55M	944.49M	893.24M	498.59M	528.32M	640.99M	668.73M
Treasury Stock	0	0	-76.62M	-455M	-451.17M	-436.62M	-418.35M
Accumulated OCI	-249.58M	-180.71M	-295.77M	96.68M	-125.32M	-133.68M	-126.01M
Minority Interest	34.21M	40.98M	43.27M	43.09M	53.37M	60.65M	66.77M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	192.76M	174.12M	70.91M	281.15M	146.4M	275.38M	279.13M
Operating CF Margin %	0.16%	0.13%	0.07%	0.22%	0.1%	0.14%	0.14%
Operating CF Growth %	-	-0.1%	-0.59%	2.97%	-0.48%	0.88%	0.01%
Net Income	40.51M	12.72M	-46.54M	-127.66M	65.28M	135.66M	90.86M
Depreciation & Amortization	160.59M	177.07M	166.21M	154.19M	173.52M	193.17M	235.95M
Stock-Based Compensation	0	0	0	16.29M	13.58M	0	0
Deferred Taxes	29.39M	43.79M	0	30.7M	35.8M	33.43M	39.75M
Other Non-Cash Items	24.98M	-23.4M	3.57M	196.08M	9.44M	55.01M	30.51M
Working Capital Changes	-16.59M	-36.06M	-52.33M	11.55M	-151.22M	-141.89M	-117.94M
Change in Receivables	-6.23M	-8.38M	35.67M	-12.29M	-15.62M	-49.98M	-12.57M
Change in Inventory	-33.59M	-5.4M	-39.49M	-27.55M	-103.11M	-71.28M	-5.9M
Change in Payables	17.66M	-11M	-38.48M	31.43M	43.51M	11.43M	-13.1M
Cash from Investing+	-334.55M	83.96M	92.57M	-82M	-57.34M	21.79M	-126.01M
Capital Expenditures	-60.09M	-59.51M	-39.15M	-94.33M	-73.3M	-57.03M	-100.1M
CapEx % of Revenue	0.05%	0.05%	0.04%	0.07%	0.05%	0.03%	0.05%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	25.4M	-7.31M	47.1M	896K	2.47M	-36.02M	-29.27M
Cash from Financing+	131.87M	-267.49M	-49.05M	-64.11M	-297M	-250.49M	-234.53M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-14.65M	-12.73M	-1.73M	-102K	-21.85M	-25.03M	-30.29M
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-1.5M	-2.19M	0	-115.55M	-4.19M	-1.66M	-29.63M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	132.67M	114.62M	31.75M	186.83M	73.1M	197.5M	153.6M
FCF Margin %	0.11%	0.09%	0.03%	0.14%	0.05%	0.1%	0.08%
FCF Growth %	-	-0.14%	-0.72%	4.88%	-0.61%	1.7%	-0.22%
FCF per Share	0.55	0.47	0.14	0.92	0.30	0.78	0.60
FCF Conversion (FCF/Net Income)	5.11x	8.01x	-1.40x	-2.07x	2.84x	2.27x	3.62x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.2%	2.99%	-7.36%	-21.1%	7.48%	14.88%	8.18%
Return on Invested Capital (ROIC)	3.91%	3.81%	-1.1%	-5.31%	8.38%	10.43%	7.36%
Gross Margin	74.57%	70.52%	68.5%	71.58%	62.16%	64.28%	66.6%
Net Margin	3.19%	1.65%	-4.96%	-10.52%	3.45%	6.38%	3.96%
Debt / Equity	1.81x	1.58x	1.67x	1.66x	1.25x	1.11x	1.05x
Interest Coverage	5.32x	4.73x	-1.38x	-6.76x	9.22x	6.78x	4.21x
FCF Conversion	5.11x	8.01x	-1.40x	-2.07x	2.84x	2.27x	3.62x
Revenue Growth	-	11.73%	-22.8%	26.69%	15.51%	27.58%	2.21%

Revenue by Segment

	2021	2022	2023	2024
Zegna branded products	847.31M	923.94M	1.11B	1.16B
Zegna branded products Growth	-	9.04%	20.08%	4.89%
Thom Browne Group	263.4M	330.01M	378.41M	314.71M
Thom Browne Group Growth	-	25.29%	14.66%	-16.83%
Textile	102.24M	136.77M	150.99M	138.15M
Textile Growth	-	33.77%	10.39%	-8.50%
Other Product	3.3M	4.32M	4.79M	15.55M
Other Product Growth	-	30.92%	10.76%	224.69%
Third Party Brands	74.96M	97.79M	25.34M	-
Third Party Brands Growth	-	30.46%	-74.08%	-
Agnona	1.19M	-	-	-
Agnona Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
Europe, the Middle East and Africa	-	520.23M	658.69M	680.26M
Europe, the Middle East and Africa Growth	-	-	26.62%	3.27%
Americas	-	-	-	524.79M
Americas Growth	-	-	-	-
UNITED STATES	-	-	-	452.77M
UNITED STATES Growth	-	-	-	-
ITALY	-	-	-	255.53M
ITALY Growth	-	-	-	-
NETHERLANDS	-	-	-	12.31M
NETHERLANDS Growth	-	-	-	-
Other Area	-	3.24M	2.96M	2.34M
Other Area Growth	-	-	-8.62%	-20.79%
Asia Pacific	696.34M	644.8M	788.01M	-
Asia Pacific Growth	-	-7.40%	22.21%	-
North America	191.28M	294.69M	417.35M	-
North America Growth	-	54.06%	41.63%	-
Latin America	19.97M	29.89M	37.54M	-
Latin America Growth	-	49.66%	25.59%	-

Frequently Asked Questions

Valuation & Price

Ermenegildo Zegna N.V. (ZGN) has a price-to-earnings (P/E) ratio of 36.7x. This suggests investors expect higher future growth.

Growth & Financials

Ermenegildo Zegna N.V. (ZGN) reported $3.88B in revenue for fiscal year 2024. This represents a 228% increase from $1.18B in 2018.

Ermenegildo Zegna N.V. (ZGN) grew revenue by 2.2% over the past year. Growth has been modest.

Yes, Ermenegildo Zegna N.V. (ZGN) is profitable, generating $195.7M in net income for fiscal year 2024 (4.0% net margin).

Dividend & Returns

Yes, Ermenegildo Zegna N.V. (ZGN) pays a dividend with a yield of 1.08%. This makes it attractive for income-focused investors.

Ermenegildo Zegna N.V. (ZGN) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Ermenegildo Zegna N.V. (ZGN) generated $379.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Ermenegildo Zegna N.V. (ZGN) 10-Year Financial Performance & Capital Metrics

ZGN • • Industrial / General

Consumer CyclicalApparel ManufacturingLuxury & Premium FashionLuxury Fashion Houses

Revenue $1.95B +2.2%
EBITDA $403M +0.4%
Net Income $77M -36.6%
EPS (Diluted) 0.30 -37.5%
Gross Margin 66.6% +3.6%
EBITDA Margin 20.69% -1.8%
Operating Margin 8.57% -21.6%
Net Margin 3.96% -37.9%
ROE 8.18% -45.0%
ROIC 7.36% -29.4%
Debt/Equity 1.05 -4.8%
Interest Coverage 4.21 -38.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 28.8%
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y8.06%

3Y14.63%

TTM25.52%

Profit (Net Income) CAGR

10Y-

5Y28.8%

3Y-

TTM393.41%

EPS CAGR

10Y-

5Y27.31%

3Y-

TTM230.29%

ROCE

10Y Avg4.68%

5Y Avg4.82%

3Y Avg10.14%

Latest8.93%

Peer Comparison

Luxury Fashion Houses

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ZGNErmenegildo Zegna N.V.	2.8B	11.02	36.73	2.21%	5.05%	20.55%	5.49%	1.05
RLRalph Lauren Corporation	14.31B	369.15	31.80	6.75%	11.28%	33.08%	7.12%	1.03
VNCEVince Holding Corp.	39.35M	2.95	-1.95	0.19%	-6.2%	-34.39%	45.3%	2.93

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.18B	1.32B	1.02B	1.29B	1.49B	1.9B	1.95B
Revenue Growth %	-	0.12%	-0.23%	0.27%	0.16%	0.28%	0.02%
Cost of Goods Sold+	300.77M	389.51M	315.96M	367.27M	749.25M	680.24M	650.09M
COGS % of Revenue	0.25%	0.29%	0.31%	0.28%	0.5%	0.36%	0.33%
Gross Profit+	881.79M	931.82M	698.77M	925.13M	928.01M	1.22B	1.3B
Gross Margin %	0.75%	0.71%	0.68%	0.72%	0.62%	0.64%	0.67%
Gross Profit Growth %	-	0.06%	-0.25%	0.32%	0%	0.32%	0.06%
Operating Expenses+	778.02M	823.3M	560.46M	840.88M	780.23M	1.02B	1.13B
OpEx % of Revenue	0.66%	0.62%	0.55%	0.65%	0.52%	0.53%	0.58%
Selling, General & Admin	610.05M	641.81M	510.31M	673.95M	764.42M	1.02B	1.13B
SG&A % of Revenue	0.52%	0.49%	0.5%	0.52%	0.51%	0.53%	0.58%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	167.97M	181.5M	50.15M	166.92M	15.81M	0	0
Operating Income+	94.8M	88.64M	-22.55M	-94.03M	147.78M	208.15M	166.85M
Operating Margin %	0.08%	0.07%	-0.02%	-0.07%	0.1%	0.11%	0.09%
Operating Income Growth %	-	-0.06%	-1.25%	-3.17%	2.57%	0.41%	-0.2%
EBITDA+	255.39M	265.71M	143.65M	60.17M	319.66M	401.32M	402.8M
EBITDA Margin %	0.22%	0.2%	0.14%	0.05%	0.21%	0.21%	0.21%
EBITDA Growth %	-	0.04%	-0.46%	-0.58%	4.31%	0.26%	0%
D&A (Non-Cash Add-back)	160.59M	177.07M	166.21M	154.19M	171.88M	193.17M	235.95M
EBIT	87.72M	87.99M	-15.18M	-83.06M	163.62M	199.78M	170.28M
Net Interest Income+	-31.37M	-22.78M	-12.53M	-11.44M	-14.3M	-25.69M	-37.1M
Interest Income	7.36M	6.16M	3.85M	2.46M	1.73M	5M	2.57M
Interest Expense	17.82M	18.76M	16.38M	13.9M	16.02M	30.69M	39.67M
Other Income/Expense	-24.89M	-19.41M	-9M	-2.93M	-46.7M	-39.05M	-36.24M
Pretax Income+	69.91M	69.23M	-31.56M	-96.96M	101.08M	169.09M	130.61M
Pretax Margin %	0.06%	0.05%	-0.03%	-0.08%	0.07%	0.09%	0.07%
Income Tax+	29.39M	43.79M	14.98M	30.7M	35.8M	33.43M	39.75M
Effective Tax Rate %	0.54%	0.31%	1.6%	1.4%	0.51%	0.72%	0.59%
Net Income+	37.71M	21.75M	-50.58M	-136M	51.48M	121.53M	77.08M
Net Margin %	0.03%	0.02%	-0.05%	-0.11%	0.03%	0.06%	0.04%
Net Income Growth %	-	-0.42%	-3.33%	-1.69%	1.38%	1.36%	-0.37%
Net Income (Continuing)	40.51M	25.44M	-46.54M	-127.66M	65.28M	135.66M	90.86M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	34.21M	40.98M	43.27M	43.09M	53.37M	60.65M	66.77M
EPS (Diluted)+	0.16	0.09	-0.21	-0.67	0.21	0.48	0.30
EPS Growth %	-	-0.44%	-3.34%	-2.19%	1.31%	1.29%	-0.38%
EPS (Basic)	0.16	0.09	-0.21	-0.67	0.22	0.48	0.31
Diluted Shares Outstanding	242.34M	242.34M	222.43M	203.5M	240.65M	252.36M	254.24M
Basic Shares Outstanding	242.34M	242.34M	221.96M	203.5M	237.55M	253.19M	251.53M
Dividend Payout Ratio	0.35%	0.59%	-	-	0.42%	0.21%	0.39%

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.37B	1.25B	1.24B	1.38B	1.29B	1.29B	1.21B
Cash & Short-Term Investments	763.21M	595.06M	667.45M	800.17M	580.29M	387.03M	296.13M
Cash Only	218.33M	210.63M	317.29M	459.79M	254.32M	296.28M	219.13M
Short-Term Investments	544.88M	384.43M	350.16M	340.38M	318.67M	90.75M	77M
Accounts Receivable	161.71M	46.95M	138.83M	160.36M	177.21M	240.46M	281.56M
Days Sales Outstanding	49.91	12.97	49.67	45.29	43.33	46.08	52.79
Inventory	314.36M	78.65M	321.47M	338.48M	410.85M	522.59M	521.01M
Days Inventory Outstanding	381.49	73.7	371.36	336.38	200.15	280.41	292.53
Other Current Assets	101.36M	511.73M	111.4M	580.13M	117.3M	137.56M	107.45M
Total Non-Current Assets+	1.42B	1.39B	1.18B	1.07B	1.14B	1.48B	1.63B
Property, Plant & Equipment	771.86M	734.98M	595.77M	481.94M	501.65M	694.13M	786.24M
Fixed Asset Turnover	1.53x	1.80x	1.71x	2.68x	2.98x	2.74x	2.48x
Goodwill	213.72M	226.06M	208.88M	227.23M	239.71M	256.27M	275.63M
Intangible Assets	190.05M	193.92M	178.97M	197.99M	216.2M	316M	338.73M
Long-Term Investments	120.63M	81.88M	69.42M	54.1M	53.42M	51.55M	59.59M
Other Non-Current Assets	54.72M	96.32M	50.95M	3.72M	5.47M	160.77M	1.58M
Total Assets+	2.79B	2.64B	2.42B	2.46B	2.43B	2.77B	2.83B
Asset Turnover	0.42x	0.50x	0.42x	0.53x	0.62x	0.69x	0.69x
Asset Growth %	-	-0.06%	-0.08%	0.02%	-0.01%	0.14%	0.02%
Total Current Liabilities+	648.53M	607.38M	535.45M	702.32M	866.98M	1.01B	852.88M
Accounts Payable	228.97M	190.4M	150.26M	177.8M	220.79M	261.1M	248.6M
Days Payables Outstanding	277.86	178.42	173.58	176.7	107.56	140.1	139.58
Short-Term Debt	142.85M	120.28M	106.03M	157.29M	286.18M	289.34M	177.17M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	834.46K	1000K
Other Current Liabilities	171.46M	46.37M	47.39M	107.3M	96.14M	172.47M	62.66M
Current Ratio	2.12x	2.05x	2.31x	1.97x	1.48x	1.27x	1.41x
Quick Ratio	1.64x	1.92x	1.71x	1.49x	1.01x	0.76x	0.80x
Cash Conversion Cycle	153.54	-91.75	247.46	204.97	135.92	186.39	205.74
Total Non-Current Liabilities+	1.42B	1.3B	1.23B	1.11B	827.42M	853.99M	998.2M
Long-Term Debt	619.95M	521.82M	563.01M	471.65M	184.88M	113.28M	196.4M
Capital Lease Obligations	443.07M	405.64M	314.85M	331.41M	332.05M	471.08M	518.73M
Deferred Tax Liabilities	75.17M	76.15M	70.73M	53.84M	60.53M	73.89M	78.13M
Other Non-Current Liabilities	207.75M	0	3.78M	0	249.96M	195.74M	204.94M
Total Liabilities	2.07B	1.91B	1.77B	1.81B	1.69B	1.87B	1.85B
Total Debt+	1.31B	1.15B	1.08B	1.07B	914.56M	996.35M	1.04B
Net Debt	1.09B	939.63M	759.43M	607.2M	660.24M	700.07M	816.12M
Debt / Equity	1.81x	1.58x	1.67x	1.66x	1.25x	1.11x	1.05x
Debt / EBITDA	5.13x	4.33x	7.50x	17.73x	2.86x	2.48x	2.57x
Net Debt / EBITDA	4.28x	3.54x	5.29x	10.09x	2.07x	1.74x	2.03x
Interest Coverage	5.32x	4.73x	-1.38x	-6.76x	9.22x	6.78x	4.21x
Total Equity+	725.49M	729.75M	645.03M	644.3M	732.32M	900.95M	982.89M
Equity Growth %	-	0.01%	-0.12%	-0%	0.14%	0.23%	0.09%
Book Value per Share	2.99	3.01	2.90	3.17	3.04	3.57	3.87
Total Shareholders' Equity	691.28M	688.77M	601.76M	601.21M	678.95M	840.29M	916.12M
Common Stock	4.3M	1.07M	4.3M	5.94M	5.94M	9.15M	9.15M
Retained Earnings	936.55M	944.49M	893.24M	498.59M	528.32M	640.99M	668.73M
Treasury Stock	0	0	-76.62M	-455M	-451.17M	-436.62M	-418.35M
Accumulated OCI	-249.58M	-180.71M	-295.77M	96.68M	-125.32M	-133.68M	-126.01M
Minority Interest	34.21M	40.98M	43.27M	43.09M	53.37M	60.65M	66.77M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	192.76M	174.12M	70.91M	281.15M	146.4M	275.38M	279.13M
Operating CF Margin %	0.16%	0.13%	0.07%	0.22%	0.1%	0.14%	0.14%
Operating CF Growth %	-	-0.1%	-0.59%	2.97%	-0.48%	0.88%	0.01%
Net Income	40.51M	12.72M	-46.54M	-127.66M	65.28M	135.66M	90.86M
Depreciation & Amortization	160.59M	177.07M	166.21M	154.19M	173.52M	193.17M	235.95M
Stock-Based Compensation	0	0	0	16.29M	13.58M	0	0
Deferred Taxes	29.39M	43.79M	0	30.7M	35.8M	33.43M	39.75M
Other Non-Cash Items	24.98M	-23.4M	3.57M	196.08M	9.44M	55.01M	30.51M
Working Capital Changes	-16.59M	-36.06M	-52.33M	11.55M	-151.22M	-141.89M	-117.94M
Change in Receivables	-6.23M	-8.38M	35.67M	-12.29M	-15.62M	-49.98M	-12.57M
Change in Inventory	-33.59M	-5.4M	-39.49M	-27.55M	-103.11M	-71.28M	-5.9M
Change in Payables	17.66M	-11M	-38.48M	31.43M	43.51M	11.43M	-13.1M
Cash from Investing+	-334.55M	83.96M	92.57M	-82M	-57.34M	21.79M	-126.01M
Capital Expenditures	-60.09M	-59.51M	-39.15M	-94.33M	-73.3M	-57.03M	-100.1M
CapEx % of Revenue	0.05%	0.05%	0.04%	0.07%	0.05%	0.03%	0.05%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	25.4M	-7.31M	47.1M	896K	2.47M	-36.02M	-29.27M
Cash from Financing+	131.87M	-267.49M	-49.05M	-64.11M	-297M	-250.49M	-234.53M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-14.65M	-12.73M	-1.73M	-102K	-21.85M	-25.03M	-30.29M
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-1.5M	-2.19M	0	-115.55M	-4.19M	-1.66M	-29.63M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	132.67M	114.62M	31.75M	186.83M	73.1M	197.5M	153.6M
FCF Margin %	0.11%	0.09%	0.03%	0.14%	0.05%	0.1%	0.08%
FCF Growth %	-	-0.14%	-0.72%	4.88%	-0.61%	1.7%	-0.22%
FCF per Share	0.55	0.47	0.14	0.92	0.30	0.78	0.60
FCF Conversion (FCF/Net Income)	5.11x	8.01x	-1.40x	-2.07x	2.84x	2.27x	3.62x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.2%	2.99%	-7.36%	-21.1%	7.48%	14.88%	8.18%
Return on Invested Capital (ROIC)	3.91%	3.81%	-1.1%	-5.31%	8.38%	10.43%	7.36%
Gross Margin	74.57%	70.52%	68.5%	71.58%	62.16%	64.28%	66.6%
Net Margin	3.19%	1.65%	-4.96%	-10.52%	3.45%	6.38%	3.96%
Debt / Equity	1.81x	1.58x	1.67x	1.66x	1.25x	1.11x	1.05x
Interest Coverage	5.32x	4.73x	-1.38x	-6.76x	9.22x	6.78x	4.21x
FCF Conversion	5.11x	8.01x	-1.40x	-2.07x	2.84x	2.27x	3.62x
Revenue Growth	-	11.73%	-22.8%	26.69%	15.51%	27.58%	2.21%

Revenue by Segment

	2021	2022	2023	2024
Zegna branded products	847.31M	923.94M	1.11B	1.16B
Zegna branded products Growth	-	9.04%	20.08%	4.89%
Thom Browne Group	263.4M	330.01M	378.41M	314.71M
Thom Browne Group Growth	-	25.29%	14.66%	-16.83%
Textile	102.24M	136.77M	150.99M	138.15M
Textile Growth	-	33.77%	10.39%	-8.50%
Other Product	3.3M	4.32M	4.79M	15.55M
Other Product Growth	-	30.92%	10.76%	224.69%
Third Party Brands	74.96M	97.79M	25.34M	-
Third Party Brands Growth	-	30.46%	-74.08%	-
Agnona	1.19M	-	-	-
Agnona Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
Europe, the Middle East and Africa	-	520.23M	658.69M	680.26M
Europe, the Middle East and Africa Growth	-	-	26.62%	3.27%
Americas	-	-	-	524.79M
Americas Growth	-	-	-	-
UNITED STATES	-	-	-	452.77M
UNITED STATES Growth	-	-	-	-
ITALY	-	-	-	255.53M
ITALY Growth	-	-	-	-
NETHERLANDS	-	-	-	12.31M
NETHERLANDS Growth	-	-	-	-
Other Area	-	3.24M	2.96M	2.34M
Other Area Growth	-	-	-8.62%	-20.79%
Asia Pacific	696.34M	644.8M	788.01M	-
Asia Pacific Growth	-	-7.40%	22.21%	-
North America	191.28M	294.69M	417.35M	-
North America Growth	-	54.06%	41.63%	-
Latin America	19.97M	29.89M	37.54M	-
Latin America Growth	-	49.66%	25.59%	-

Frequently Asked Questions

Valuation & Price

Ermenegildo Zegna N.V. (ZGN) has a price-to-earnings (P/E) ratio of 36.7x. This suggests investors expect higher future growth.

Growth & Financials

Ermenegildo Zegna N.V. (ZGN) reported $3.88B in revenue for fiscal year 2024. This represents a 228% increase from $1.18B in 2018.

Ermenegildo Zegna N.V. (ZGN) grew revenue by 2.2% over the past year. Growth has been modest.

Yes, Ermenegildo Zegna N.V. (ZGN) is profitable, generating $195.7M in net income for fiscal year 2024 (4.0% net margin).

Dividend & Returns

Yes, Ermenegildo Zegna N.V. (ZGN) pays a dividend with a yield of 1.08%. This makes it attractive for income-focused investors.

Ermenegildo Zegna N.V. (ZGN) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Ermenegildo Zegna N.V. (ZGN) generated $379.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.