(AZM) Azimut Holding S.p.A. - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: MI (Italy) | Market Cap: 4.918m EUR | Total Return: 42.6% in 12m
Avg Turnover: 20.2M
EPS Trend: 74.0%
Qual. Beats: 1
Rev. Trend: 50.7%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Azimut Holding S.p.A. is a Milan-based financial services firm specializing in asset management, advisory, and insurance solutions across global markets. Its portfolio spans public and private markets, discretionary portfolio management, and specialized fintech and digital asset services. The company operates an integrated model that combines investment banking with retail and corporate pension planning.
The asset management industry is currently shifting toward private market investments and alternative assets to offset fee compression in traditional UCITS funds. As an independent player, Azimut utilizes a partnership-based business model where key professionals hold equity stakes, aiming to align management interests with long-term shareholder value. Investors can utilize ValueRay to further analyze the companys valuation metrics and historical performance.
- Net inflows into private market funds drive higher management fee margins
- International expansion in Brazil and US reduces reliance on Italian domestic market
- Performance fee volatility impacts quarterly earnings consistency and dividend payout capacity
- Strategic partnership with UniCredit reshapes distribution network and asset gathering potential
- Higher interest rates influence demand for fixed income and money market products
| Net Income: 535.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 5.20 > 1.0 |
| NWC/Revenue: -92.33% < 20% (prev -99.72%; Δ 7.39% < -1%) |
| CFO/TA 0.05 > 3% & CFO 569.8m > Net Income 535.7m |
| Net Debt (-561.3m) to EBITDA (663.4m): -0.85 < 3 |
| Current Ratio: 0.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (141.8m) vs 12m ago -0.05% < -2% |
| Gross Margin: 63.89% > 18% (prev 0.66%; Δ 6.32k% > 0.5%) |
| Asset Turnover: 13.89% > 50% (prev 12.45%; Δ 1.44% > 0%) |
| Interest Coverage Ratio: 74.27 > 6 (EBITDA TTM 663.4m / Interest Expense TTM 8.54m) |
| A: -0.12 (Total Current Assets 718.6m - Total Current Liabilities 2.06b) / Total Assets 10.8b |
| B: 0.01 (Retained Earnings 125.3m / Total Assets 10.8b) |
| C: 0.06 (EBIT TTM 634.6m / Avg Total Assets 10.5b) |
| D: 0.01 (Book Value of Equity 125.3m / Total Liabilities 8.51b) |
| Altman-Z'' = -0.36 = B |
| DSRI: 0.78 (Receivables 259.9m/289.4m, Revenue 1.46b/1.27b) |
| GMI: 1.03 (GM 63.89% / 66.05%) |
| AQI: 1.00 (AQ_t 0.93 / AQ_t-1 0.93) |
| SGI: 1.15 (Revenue 1.46b / 1.27b) |
| TATA: -0.00 (NI 535.7m - CFO 569.8m) / TA 10.8b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of May 24, 2026, the stock is trading at EUR 34.72 with a total of 480,715 shares traded.
Over the past week, the price has changed by +4.45%,
over one month by -1.40%,
over three months by +5.38% and
over the past year by +42.62%.
Azimut Holding S.p.A. has no consensus analysts rating.
P/E Trailing = 9.1746
P/E Forward = 7.6161
P/S = 3.2482
P/B = 2.224
P/EG = 1.7352
Revenue TTM = 1.46b EUR
EBIT TTM = 634.6m EUR
EBITDA TTM = 663.4m EUR
Long Term Debt = 123.2m EUR (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 29.9m EUR (Leases only: 29.9m)
Net Debt = -561.3m EUR (calculated: Debt 29.9m - CCE 591.2m)
Enterprise Value = 4.36b EUR (4.92b + Debt 29.9m - CCE 591.2m)
Interest Coverage Ratio = 74.27 (Ebit TTM 634.6m / Interest Expense TTM 8.54m)
EV/FCF = 8.55x (Enterprise Value 4.36b / FCF TTM 509.5m)
FCF Yield = 11.69% (FCF TTM 509.5m / Enterprise Value 4.36b)
FCF Margin = 34.98% (FCF TTM 509.5m / Revenue TTM 1.46b)
Net Margin = 36.79% (Net Income TTM 535.7m / Revenue TTM 1.46b)
Gross Margin = 63.89% ((Revenue TTM 1.46b - Cost of Revenue TTM 525.9m) / Revenue TTM)
Gross Margin QoQ = 59.17% (prev 68.95%)
Tobins Q-Ratio = 0.40 (Enterprise Value 4.36b / Total Assets 10.8b)
Interest Expense / Debt = 28.56% (Interest Expense 8.54m / Debt 29.9m)
Taxrate = 21.92% (36.7m / 167.5m)
NOPAT = 495.5m (EBIT 634.6m * (1 - 21.92%))
Current Ratio = 0.35 (Total Current Assets 718.6m / Total Current Liabilities 2.06b)
Debt / Equity = 0.01 (Debt 29.9m / totalStockholderEquity, last quarter 2.25b)
Debt / EBITDA = -0.85 (Net Debt -561.3m / EBITDA 663.4m)
Debt / FCF = -1.10 (Net Debt -561.3m / FCF TTM 509.5m)
Total Stockholder Equity = 2.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.11% (Net Income 535.7m / Total Assets 10.8b)
RoE = 26.82% (Net Income TTM 535.7m / Total Stockholder Equity 2.00b)
RoCE = 29.93% (EBIT 634.6m / Capital Employed (Equity 2.00b + L.T.Debt 123.2m))
RoIC = 5.69% (NOPAT 495.5m / Invested Capital 8.70b)
WACC = 9.47% (E(4.92b)/V(4.95b) * Re(9.39%) + D(29.9m)/V(4.95b) * Rd(28.56%) * (1-Tc(0.22)))
Discount Rate = 9.39% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -58.13 | Cagr: -0.37%
[DCF] Terminal Value 71.61% ; FCFF base≈509.5m ; Y1≈511.6m ; Y5≈541.9m
[DCF] Fair Price = 53.89 (EV 7.08b - Net Debt -561.3m = Equity 7.64b / Shares 141.8m; r=9.47% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 74.00 | EPS CAGR: 14.75% | SUE: 1.34 | # QB: 1
Revenue Correlation: 50.69 | Revenue CAGR: 3.00% | SUE: -0.24 | # QB: 0
EPS current Year (2026-12-31): EPS=3.25 | Chg30d=-0.83% | Revisions=-33% | GrowthEPS=-3.9% | GrowthRev=+8.8%
EPS next Year (2027-12-31): EPS=3.48 | Chg30d=-0.70% | Revisions=-50% | GrowthEPS=+7.1% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: -50%