(ZGN) Ermenegildo Zegna - Ratings and Ratios

Exchange: NYSE • Country: Italy • Currency: USD • Type: Common Stock • ISIN: NL0015000PB5

Menswear, Womenwear, Footwear, Leather, Accessories

Apparel, Accessories & Luxury Goods
Market Cap in USD: 2,658m

IPO / Inception: 2021-12-20
12m vs SPY: 19.1%

EPS (Earnings per Share)

EPS CAGR: 3.22%
EPS Trend: 10.6%

Last SUE: 0.00
Qual. Beats: 0

Revenue

Rev. CAGR: 34.61%
Rev. Trend: 72.7%

Qual. Beats: 0

Dividends

Dividend Yield	1.57%
Yield on Cost 5y	1.44%
Yield CAGR 5y	14.47%
Payout Consistency	92.4%
Payout Ratio	38.1%

Risk via 5d forecast
Volatility	35.9%
Value at Risk 5%th	54.7%
Relative Tail Risk	-7.44%

Reward TTM
Sharpe Ratio	0.98
Alpha	18.56
CAGR/Max DD	0.00

Character TTM
Hurst Exponent	0.388
Beta	1.133
Beta Downside	1.030

Drawdowns 3y
Max DD	60.99%
Mean DD	29.19%
Median DD	31.32%

Description: ZGN Ermenegildo Zegna January 14, 2026

Ermenegildo Zegna N.V. (NYSE:ZGN) designs, manufactures, markets, and distributes a full spectrum of luxury apparel and accessories for men, women, and children, including menswear, womenswear, footwear, leather goods, eyewear, jewelry, fragrances, and home-design products. Its portfolio is anchored by the ZEGNA, Thom Browne, and TOM FORD FASHION brands, and sales are executed through a global network of brick-and-mortar boutiques and e-commerce platforms.

Key recent metrics: FY 2023 revenue reached €1.32 billion, up ~12 % YoY, driven by a 20 % increase in digital sales and strong demand in the Asia-Pacific region, where the brand’s luxury leisurewear outperformed the broader market. Operating margin expanded to 14 % as the company leveraged higher-margin bespoke tailoring and the recent acquisition of the TOM FORD FASHION label, which added ~€300 million of incremental revenue in its first year. The luxury apparel sector is currently benefiting from a 5-6 % CAGR in discretionary spending among high-net-worth consumers, while macro-headwinds such as inflation and currency volatility remain material risks.

For a deeper, data-driven valuation framework, see the ZGN profile on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 7.0

Net Income (195.7m TTM) > 0 and > 6% of Revenue (6% = 232.5m TTM)

FCFTA 0.14 (>2.0%) and ΔFCFTA 8.25pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 8.66% (prev 8.69%; Δ -0.04pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.20 (>3.0%) and CFO 552.6m > Net Income 195.7m (YES >=105%, WARN >=100%)

Net Debt (875.1m) to EBITDA (510.2m) ratio: 1.72 <= 3.0 (WARN <= 3.5)

Current Ratio 1.42 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (255.5m) change vs 12m ago 2.08% (target <= -2.0% for YES)

Gross Margin 66.24% (prev 63.92%; Δ 2.31pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 141.1% (prev 114.5%; Δ 26.55pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 9.74 (EBITDA TTM 510.2m / Interest Expense TTM 36.5m) >= 6 (WARN >= 3)

Altman Z'' 2.82

(A) 0.12 = (Total Current Assets 1.14b - Total Current Liabilities 801.8m) / Total Assets 2.73b

(B) 0.26 = Retained Earnings (Balance) 703.0m / Total Assets 2.73b

(D) 0.29 = Book Value of Equity 507.9m / Total Liabilities 1.77b

Total Rating: 2.82 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 82.20

1. Piotroski 7.0pt

2. FCF Yield 12.30%

3. FCF Margin 9.78%

4. Debt/Equity 1.17

5. Debt/Ebitda 1.72

6. ROIC - WACC (= 12.69)%

7. RoE 22.40%

8. Rev. Trend 72.72%

9. EPS Trend 10.56%

What is the price of ZGN shares?

As of January 14, 2026, the stock is trading at USD 10.80 with a total of 497,469 shares traded.
Over the past week, the price has changed by +0.93%, over one month by +4.65%, over three months by +23.29% and over the past year by +43.76%.

Is ZGN a buy, sell or hold?

Ermenegildo Zegna has received a consensus analysts rating of 3.43. Therefor, it is recommend to hold ZGN.

Strong Buy: 2
Buy: 1
Hold: 3
Sell: 0
Strong Sell: 1

What are the forecasts/targets for the ZGN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	11.6	7.1%
Analysts Target Price	11.6	7.1%
ValueRay Target Price	11.7	8%

ZGN Fundamental Data Overview January 09, 2026

Market Cap EUR = 2.28b (2.66b USD * 0.8575 USD.EUR)
P/E Trailing = 24.3256
P/E Forward = 23.2558
P/S = 1.3884
P/B = 2.5686
Beta = 0.754
Revenue TTM = 3.88b EUR
EBIT TTM = 355.5m EUR
EBITDA TTM = 510.2m EUR
Long Term Debt = 174.4m EUR (from longTermDebt, last quarter)
Short Term Debt = 305.7m EUR (from shortTermDebt, last quarter)
Debt = 1.03b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 875.1m EUR (from netDebt column, last quarter)
Enterprise Value = 3.08b EUR (2.28b + Debt 1.03b - CCE 231.2m)
Interest Coverage Ratio = 9.74 (Ebit TTM 355.5m / Interest Expense TTM 36.5m)
EV/FCF = 8.13x (Enterprise Value 3.08b / FCF TTM 379.2m)
FCF Yield = 12.30% (FCF TTM 379.2m / Enterprise Value 3.08b)
FCF Margin = 9.78% (FCF TTM 379.2m / Revenue TTM 3.88b)
Net Margin = 5.05% (Net Income TTM 195.7m / Revenue TTM 3.88b)
Gross Margin = 66.24% ((Revenue TTM 3.88b - Cost of Revenue TTM 1.31b) / Revenue TTM)
Gross Margin QoQ = 67.48% (prev 66.81%)
Tobins Q-Ratio = 1.13 (Enterprise Value 3.08b / Total Assets 2.73b)
Interest Expense / Debt = 1.54% (Interest Expense 15.9m / Debt 1.03b)
Taxrate = 29.57% (20.1m / 68.0m)
NOPAT = 250.4m (EBIT 355.5m * (1 - 29.57%))
Current Ratio = 1.42 (Total Current Assets 1.14b / Total Current Liabilities 801.8m)
Debt / Equity = 1.17 (Debt 1.03b / totalStockholderEquity, last quarter 885.4m)
Debt / EBITDA = 1.72 (Net Debt 875.1m / EBITDA 510.2m)
Debt / FCF = 2.31 (Net Debt 875.1m / FCF TTM 379.2m)
Total Stockholder Equity = 873.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.12% (Net Income 195.7m / Total Assets 2.73b)
RoE = 22.40% (Net Income TTM 195.7m / Total Stockholder Equity 873.6m)
RoCE = 33.93% (EBIT 355.5m / Capital Employed (Equity 873.6m + L.T.Debt 174.4m))
RoIC = 19.97% (NOPAT 250.4m / Invested Capital 1.25b)
WACC = 7.28% (E(2.28b)/V(3.31b) * Re(10.09%) + D(1.03b)/V(3.31b) * Rd(1.54%) * (1-Tc(0.30)))
Discount Rate = 10.09% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.04%
[DCF Debug] Terminal Value 81.45% ; FCFF base≈290.0m ; Y1≈304.4m ; Y5≈355.0m
Fair Price DCF = 24.94 (EV 7.21b - Net Debt 875.1m = Equity 6.34b / Shares 254.1m; r=7.28% [WACC]; 5y FCF grow 5.37% → 2.90% )
EPS Correlation: 10.56 | EPS CAGR: 3.22% | SUE: 0.0 | # QB: 0
Revenue Correlation: 72.72 | Revenue CAGR: 34.61% | SUE: N/A | # QB: 0
EPS next Year (2026-12-31): EPS=0.42 | Chg30d=-0.001 | Revisions Net=-2 | Growth EPS=+12.8% | Growth Revenue=+4.8%

Additional Sources for ZGN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle