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Ariston Holding NV
(ARIS)
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Rating:59Neutral
Price Target:
€3.50
▼(-6.67% Downside)
Action:Reiterated
Date:10/13/26
The score is driven mainly by mixed financial performance (solid long-term growth and improved leverage, but volatile earnings and weaker free-cash-flow consistency) and weak technicals (price below all key moving averages with soft momentum). These are partially offset by supportive valuation (low P/E and a ~3% dividend yield).
Positive Factors
Long-term revenue growth
Strong multi-year revenue growth indicates that Ariston has expanded its underlying business despite annual fluctuations. Continued demand for thermal comfort, water heating, replacement, and renovation products can support durable scale, channel reach, and future operating leverage.
Negative Factors
Earnings volatility
The sharp movement from near break-even profitability in 2024 to recovery in 2025 shows that earnings remain sensitive to business conditions and operating execution. This volatility makes sustainable profit planning less certain and can constrain consistent reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term revenue growth
Strong multi-year revenue growth indicates that Ariston has expanded its underlying business despite annual fluctuations. Continued demand for thermal comfort, water heating, replacement, and renovation products can support durable scale, channel reach, and future operating leverage.
Read all positive factors
Ariston Holding NV (ARIS) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€1.14B
Dividend Yield3.07%
Average Volume (3M)663.82K
Price to Earnings (P/E)10.3
Beta (1Y)1.05
Revenue Growth4.96%
EPS Growth17.64%
CountryIT
Employees11,029
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.32
Shares Outstanding125,505,005
10 Day Avg. Volume777,587
30 Day Avg. Volume663,820
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.03
Price to Sales (P/S)0.58
P/FCF Ratio9.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€4.30Price Target Upside14.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.35
Revenue Forecast (FY)€2.99B
Ariston Holding NV Business Overview & Revenue Model
Company Description
Ariston Holding N.V. is a global enterprise specializing in the manufacturing and distribution of advanced hot water and space heating systems, catering to both commercial and residential clients. Its operations are structured across three primary...
How the Company Makes Money
Ariston Holding N.V. primarily makes money by designing, manufacturing, and selling thermal comfort and water heating equipment. Its key revenue streams include: (1) product sales of water heating solutions (e.g., storage and instantaneous water h...
Ariston Holding NV Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.78B | 2.71B | 2.68B | 3.15B | 2.42B | 1.99B |
| Gross Profit | 1.01B | 1.24B | 993.50M | 1.28B | 765.10M | 674.00M |
| EBITDA | 326.00M | 307.40M | 202.30M | 420.80M | 286.70M | 250.30M |
| Net Income | 109.20M | 132.40M | 2.50M | 191.20M | 140.30M | 136.50M |
Balance Sheet | ||||||
| Total Assets | 4.02B | 3.58B | 3.57B | 3.87B | 2.88B | 2.32B |
| Cash, Cash Equivalents and Short-Term Investments | 569.80M | 248.50M | 369.20M | 456.40M | 1.01B | 689.70M |
| Total Debt | 1.26B | 781.80M | 901.40M | 1.02B | 932.70M | 492.30M |
| Total Liabilities | 2.48B | 2.06B | 2.14B | 2.37B | 1.87B | 1.44B |
| Stockholders Equity | 1.54B | 1.52B | 1.43B | 1.50B | 1.01B | 878.30M |
Cash Flow | ||||||
| Free Cash Flow | 98.90M | 157.70M | 190.70M | 144.90M | 52.30M | 112.60M |
| Operating Cash Flow | 216.40M | 303.30M | 306.50M | 303.50M | 130.90M | 190.70M |
| Investing Cash Flow | -183.50M | -166.50M | -134.60M | -709.90M | -133.80M | -84.70M |
| Financing Cash Flow | 259.50M | -234.10M | -264.30M | -123.40M | 322.10M | 101.90M |
Ariston Holding NV Technical Analysis
Negative
3.75
Price Trends
3.75
Negative
3.64
Negative
3.84
Negative
Market Momentum
-0.16
Positive
33.39
Neutral
13.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ARIS, the sentiment is Negative. The current price of 3.75 is above the 20-day moving average (MA) of 3.75, above the 50-day MA of 3.75, and below the 200-day MA of 3.84, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 33.39 is Neutral, neither overbought nor oversold. The STOCH value of 13.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:ARIS.
Ariston Holding NV Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €6.14B | 12.99 | 23.43% | 3.11% | 6.43% | 7.10% | |
64 Neutral | €57.52M | 21.52 | ― | 5.03% | 4.57% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | €1.30B | 26.71 | ― | 0.80% | 8.27% | 54.11% | |
59 Neutral | €1.14B | 10.30 | ― | 3.07% | 4.96% | 17.64% |
* Industrials Sector Average
IT:ARIS
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3.26
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Ariston Holding NV Corporate Events
Ariston Group Buys Majority Stake in Mutosi to Enter Vietnam’s Water Purification Market
Sep 3, 2026
Ariston Group has deep roots in Vietnam, where it has operated since 1988 and ranks among the main players in domestic water heating, supported by a local production plant in Bac Ninh and a strong presence across retail and e-commerce channels. Ov...
Ariston Group Buys Majority Stake in Vietnam’s Mutosi to Enter Water Purification Market
Sep 3, 2026
Ariston Group has acquired an 83% stake in Hanoi-based Mutosi, a fast-growing specialist in residential water purification systems in Vietnam. Founded in 2018, Mutosi offers a broad range of floor-standing and under-sink purifiers, spare parts and...
Ariston Holding Lifts Margins on Q2 Growth, Confirms 2026 Outlook
Jul 29, 2026
Ariston Holding reported strong second‑quarter and half‑year 2026 results, with Q2 net revenues rising 7.4% year on year to €691m and adjusted EBIT jumping 28.3%, lifting the margin to 5.7%. First‑half net revenues reached ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.