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Ermenegildo Zegna (DE:JN0)
FRANKFURT:JN0

Ermenegildo Zegna (JN0) Price & Analysis

3 Followers

JN0 Stock Chart & Stats

€9.62
€0.00(0.00%)
At close: 4:00 PM EST
€9.62
€0.00(0.00%)

Bulls Say, Bears Say

Bulls Say
High Direct-to-consumer MixA sustained shift to DTC (82% of branded sales in FY25; 85% in Q1 2026) increases gross margin, customer data control and pricing power. This durable channel mix reduces reliance on lower‑margin wholesale, supporting margin resilience and long‑term customer lifetime value.
Strong Cash Generation And Net Cash PositionMaterial FCF recovery (EUR 82m in 2025) and a move to net cash (EUR 52m) strengthen financial flexibility for capex, brand investment, dividends and debt paydown. Durable cash conversion supports reinvestment in high‑return projects and buffers the business against demand volatility.
Multi‑brand Creative InitiativesA diversified luxury portfolio plus visible product initiatives and collaborations enhance brand equity and customer acquisition. Sustained creative momentum and a licensed Tom Ford business provide multiple growth levers and help restore mid‑term margin upside across brands.
Bears Say
SG&A Leverage PressureElevated SG&A incidence (up ~210 bps) from talent, systems and store expansion dampens operating leverage. If revenue growth softens, higher fixed operating costs will compress margins over the medium term and require sustained top‑line improvement to normalize profitability.
Ongoing Wholesale ContractionA deliberate shift away from wholesale (mid‑teens declines at Zegna; double‑digit at Thom Browne) creates near‑term revenue and margin friction as distribution is converted. The channel transition can take multiple quarters and may limit operating leverage until DTC expansion fully offsets lost wholesale volumes.
Meaningful Remaining LeverageAlthough leverage improved from prior years, a near‑1.0x debt/equity ratio leaves the company exposed if cash flow weakens. Meaningful debt still constrains capital allocation flexibility and raises refinancing and interest sensitivity over the medium term compared with a lower‑leverage luxury peer set.

Ermenegildo Zegna News

JN0 FAQ

What was Ermenegildo Zegna’s price range in the past 12 months?
Ermenegildo Zegna lowest stock price was €6.48 and its highest was €12.69 in the past 12 months.
    What is Ermenegildo Zegna’s market cap?
    Ermenegildo Zegna’s market cap is €4.87B.
      When is Ermenegildo Zegna’s upcoming earnings report date?
      Ermenegildo Zegna’s upcoming earnings report date is Sep 03, 2026 which is in 60 days.
        How were Ermenegildo Zegna’s earnings last quarter?
        Ermenegildo Zegna released its earnings results on Mar 20, 2026. The company reported €0.24 earnings per share for the quarter, beating the consensus estimate of €0.162 by €0.078.
          Is Ermenegildo Zegna overvalued?
          According to Wall Street analysts Ermenegildo Zegna’s price is currently Undervalued. Get more investment ideas with TipRanks Premium
            Does Ermenegildo Zegna pay dividends?
            Ermenegildo Zegna does not currently pay dividends.
            What is Ermenegildo Zegna’s EPS estimate?
            Ermenegildo Zegna’s EPS estimate is 0.15.
              How many shares outstanding does Ermenegildo Zegna have?
              Ermenegildo Zegna has 268,312,040 shares outstanding.
                What happened to Ermenegildo Zegna’s price movement after its last earnings report?
                Ermenegildo Zegna reported an EPS of €0.24 in its last earnings report, beating expectations of €0.162. Following the earnings report the stock price went down -5.988%.
                  Which hedge fund is a major shareholder of Ermenegildo Zegna?
                  Currently, no hedge funds are holding shares in DE:JN0
                  What is the TipRanks Smart Score and how is it calculated?
                  Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

                    Company Description

                    Ermenegildo Zegna

                    Ermenegildo Zegna N.V., along with its affiliated entities, operates as a leading luxury fashion house. The company is engaged in the design, production, marketing, and global distribution of high-end menswear, footwear, leather goods, and assorted accessories, primarily under its distinguished Zegna and Thom Browne labels. Its comprehensive men's collection features opulent leisurewear, sophisticated formal wear including suits, tuxedos, shirts, blazers, and overcoats, as well as accompanying accessories. The offering also encompasses an array of refined leather accessories such as shoes, bags, belts, and smaller leather articles, alongside fragrances. Furthermore, under the Thom Browne brand, the company extends its portfolio to include luxury womenswear and childrenswear. Zegna also provides licensed products like eyewear, cufflinks, fine jewelry, timepieces, intimate apparel, and beachwear, which are manufactured by external partners. The firm connects with its clientele through its global network of retail stores and online platforms, serving regions across Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. Established in 1910, Ermenegildo Zegna N.V. is headquartered in Trivero, Italy, and functions as a subsidiary of Monterubello Societa' Semplice.

                    Ermenegildo Zegna (JN0) Earnings & Revenues

                    JN0 Company Deck

                    JN0 Earnings Call

                    Q4 2026
                    0:00 / 0:00
                    Earnings Call Sentiment|Positive
                    The call presented a generally positive financial and operational picture: improved gross margin (+90 bps), higher DTC mix (82% vs 78%), stronger reported profit (+20% to EUR 109.5m), materially improved cash generation (free cash flow EUR 82m) and a net cash surplus (EUR 52m). These positives are balanced against meaningful near-term challenges: SG&A deleverage, continued wholesale streamlining (notably at Thom Browne), a Tom Ford H1 loss (improved in H2), FX headwinds (~2ppt on revenues) and uncertainty from the Middle East conflict. Management reiterated a cautious 2026 posture (profitability broadly sideline) while outlining multi-year plans to restore double-digit margins at the growth brands and to invest for long-term value.View all DE:JN0 earnings summaries

                    JN0 Stock 12 Month Forecast

                    Average Price Target

                    €12.45
                    ▲(29.45% Upside)
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<span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 5, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":6.815,"date":1754006400000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 7, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":6.955,"date":1756684800000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 6,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 7, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":7.8,"date":1759276800000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 10,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 6, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":8.69,"date":1761955200000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 11,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 5, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":8.95,"date":1764547200000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 7,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 4, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":8.615,"date":1767225600000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 5,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 4, \t&nbsp;</span>\n       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