(ZGN) Ermenegildo Zegna - Overview

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

Stock: Menswear, Womenwear, Footwear, Leather, Accessories

Total Rating 51

Risk 80

Buy Signal -0.05

Apparel Manufacturing » Apparel, Accessories & Luxury Goods
Age: 4.1y

Market Cap: 2,366m
Avg Trading Vol: 6.90M USD

ATR: 4.09%
Peers RS (IBD): 65.52

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	1.41%
Yield CAGR 5y	14.47%
Payout Consistency	92.4%
Payout Ratio	82.9%

Risk 5d forecast
Volatility	47.2%
Relative Tail Risk	-7.10%

Reward TTM
Sharpe Ratio	0.50
Alpha	0.80

Character TTM
Beta	1.126
Beta Downside	0.880

Drawdowns 3y
Max DD	60.99%
CAGR/Max DD	-0.07

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
FCF/TA: 0.14 > 0.02 and ΔFCF/TA 8.25 > 1.0
NWC/Revenue: 8.66% < 20% (prev 8.69%; Δ -0.04% < -1%)
CFO/TA 0.20 > 3% & CFO 552.6m > Net Income 195.7m
Net Debt (875.1m) to EBITDA (510.2m): 1.72 < 3
Current Ratio: 1.42 > 1.5 & < 3
Outstanding Shares: last quarter (255.5m) vs 12m ago 2.08% < -2%
Gross Margin: 66.24% > 18% (prev 0.64%; Δ 6560 % > 0.5%)
Asset Turnover: 141.1% > 50% (prev 114.5%; Δ 26.55% > 0%)
Interest Coverage Ratio: 9.74 > 6 (EBITDA TTM 510.2m / Interest Expense TTM 36.5m)

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 703.0m / Total Assets 2.73b)
C: 0.13 (EBIT TTM 355.5m / Avg Total Assets 2.75b)
D: 0.29 (Book Value of Equity 507.9m / Total Liabilities 1.77b)
Altman-Z'' Score: 2.82 = A

Beneish M -3.17

DSRI: 0.83 (Receivables 243.5m/240.5m, Revenue 3.88b/3.17b)
GMI: 0.97 (GM 66.24% / 63.92%)
AQI: 1.00 (AQ_t 0.28 / AQ_t-1 0.28)
SGI: 1.22 (Revenue 3.88b / 3.17b)
TATA: -0.13 (NI 195.7m - CFO 552.6m) / TA 2.73b)
Beneish M-Score: -3.17 (Cap -4..+1) = AA

What is the price of ZGN shares?

As of February 08, 2026, the stock is trading at USD 10.39 with a total of 703,133 shares traded.
Over the past week, the price has changed by +19.56%, over one month by -2.90%, over three months by +6.56% and over the past year by +17.64%.

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.

StrongBuy: 2
Buy: 1
Hold: 3
Sell: 0
StrongSell: 1

What are the forecasts/targets for the ZGN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	11.6	11.4%
Analysts Target Price	11.6	11.4%
ValueRay Target Price	10.8	4%

ZGN Fundamental Data Overview February 05, 2026

Market Cap EUR = 2.00b (2.37b USD * 0.847 USD.EUR)
P/E Trailing = 21.1591
P/E Forward = 20.7039
P/S = 1.2358
P/B = 2.2647
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 = 2.81b EUR (2.00b + Debt 1.03b - CCE 231.2m)
Interest Coverage Ratio = 9.74 (Ebit TTM 355.5m / Interest Expense TTM 36.5m)
EV/FCF = 7.40x (Enterprise Value 2.81b / FCF TTM 379.2m)
FCF Yield = 13.51% (FCF TTM 379.2m / Enterprise Value 2.81b)
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 = 1.03 (Enterprise Value 2.81b / 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 = 7.00% (E(2.00b)/V(3.04b) * Re(10.06%) + D(1.03b)/V(3.04b) * Rd(1.54%) * (1-Tc(0.30)))
Discount Rate = 10.06% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.04%
[DCF Debug] Terminal Value 82.48% ; FCFF base≈290.0m ; Y1≈304.4m ; Y5≈355.0m
Fair Price DCF = 26.84 (EV 7.70b - Net Debt 875.1m = Equity 6.82b / Shares 254.1m; r=7.00% [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=0.41 | Chg30d=-0.007 | Revisions Net=-2 | Growth EPS=+9.3% | Growth Revenue=+4.8%

Additional Sources for ZGN Stock

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