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FOPE S.p.A.
(FPE)
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Rating:66Neutral
Price Target:
€71.00
▲(33.96% Upside)
Action:Downgraded
Date:09/12/26
The score is driven primarily by solid fundamentals—strong revenue growth and healthy operating margins—tempered by 2025 margin compression and less consistent cash conversion. Technical signals are mixed with negative MACD and price below the 50-day average, while valuation appears somewhat rich on a ~25.5 P/E despite a ~2.0% dividend yield.
Positive Factors
Strong multi-year revenue growth
FOPE has expanded revenue substantially over several years, indicating sustained demand for its luxury jewelry offering and successful commercial reach. Continued top-line growth can support operating leverage, brand investment, and broader distribution, making the business less dependent on isolated product launches.
Negative Factors
Material gross-margin compression
The sharp decline in gross margin is a significant threat to earnings quality because revenue growth is producing less gross profit than in prior years. If this compression persists, FOPE may have less capacity to fund marketing, innovation, and distribution while maintaining its premium positioning.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong multi-year revenue growth
FOPE has expanded revenue substantially over several years, indicating sustained demand for its luxury jewelry offering and successful commercial reach. Continued top-line growth can support operating leverage, brand investment, and broader distribution, making the business less dependent on isolated product launches.
Read all positive factors
FOPE S.p.A. (FPE) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€348.67M
Dividend Yield1.72%
Average Volume (3M)1.78K
Price to Earnings (P/E)23.1
Beta (1Y)0.23
Revenue Growth23.63%
EPS Growth20.36%
CountryIT
Employees122
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)2.77
Shares Outstanding5,447,908
10 Day Avg. Volume2,475
30 Day Avg. Volume1,783
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)3.69
Price to Sales (P/S)2.26
P/FCF Ratio19.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€72.50Price Target Upside36.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.56
Revenue Forecast (FY)€115.97M
FOPE S.p.A. Business Overview & Revenue Model
Company Description
Fope S.p.A., an Italian enterprise, specializes in the creation and global distribution of fine jewelry. The company presents a diverse array of offerings, including bracelets, rings, necklaces, earrings, watches, and various other distinctive col...
How the Company Makes Money
FOPE makes money primarily by selling finished luxury jewelry products. Its revenue model is largely tied to (1) wholesale/distribution sales and (2) direct-to-consumer (DTC) sales, where applicable.
1) Wholesale / retail partner sales (primary):...
FOPE S.p.A. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 107.33M | 93.58M | 73.43M | 66.77M | 62.16M | 40.31M |
| Gross Profit | 3.75M | 16.60M | 21.13M | 23.73M | 20.02M | 12.36M |
| EBITDA | 6.78M | 20.52M | 14.91M | 16.60M | 15.19M | 8.87M |
| Net Income | 15.05M | 11.38M | 8.35M | 10.03M | 10.74M | 4.99M |
Balance Sheet | ||||||
| Total Assets | 94.23M | 86.42M | 69.50M | 60.16M | 55.19M | 46.48M |
| Cash, Cash Equivalents and Short-Term Investments | 28.15M | 32.63M | 15.15M | 11.26M | 11.52M | 11.99M |
| Total Debt | 15.12M | 11.89M | 11.89M | 11.28M | 10.23M | 10.11M |
| Total Liabilities | 45.85M | 28.84M | 24.14M | 20.11M | 21.55M | 20.64M |
| Stockholders Equity | 48.01M | 57.34M | 45.17M | 39.84M | 33.48M | 25.76M |
Cash Flow | ||||||
| Free Cash Flow | 13.83M | 10.97M | 7.43M | 2.55M | 3.07M | 4.69M |
| Operating Cash Flow | 17.41M | 14.34M | 11.14M | 5.84M | 5.32M | 5.73M |
| Investing Cash Flow | -4.82M | -2.97M | -3.29M | -3.05M | -3.27M | -1.06M |
| Financing Cash Flow | -5.41M | -4.62M | -3.96M | -3.06M | -2.52M | -2.37M |
FOPE S.p.A. Technical Analysis
Positive
53.00
Price Trends
56.21
Positive
58.80
Positive
49.04
Positive
Market Momentum
2.23
Negative
81.37
Negative
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:FPE, the sentiment is Positive. The current price of 53 is below the 20-day moving average (MA) of 59.73, below the 50-day MA of 56.21, and above the 200-day MA of 49.04, indicating a bullish trend. The MACD of 2.23 indicates Negative momentum. The RSI at 81.37 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:FPE.
FOPE S.p.A. Peers Comparison
UnderperformOutperform
Sector (61)
IT:FPE
FOPE S.p.A.
66.00
27.52
71.50%
IT:SFER
Salvatore Ferragamo S.p.A.
6.66
0.39
6.14%
IT:BC
Brunello Cucinelli SpA
86.44
-2.76
-3.10%
IT:GCOM
Giglio.com SpA
0.55
-0.44
-44.72%
IT:GIS
Gismondi 1754 S.p.A.
1.50
-0.48
-24.24%
IT:POZ
Pozzi Milano S.P.A.
0.43
-0.06
-12.37%
FOPE S.p.A. Corporate Events
FOPE boosts first-half 2026 profits and expands in international luxury jewelry markets
Sep 25, 2026
FOPE reported strong first-half 2026 results, with net revenues rising 32% year-on-year to EUR 56.8 million, driven by solid performance in core markets in Europe and America and accelerating growth in Japan, South Korea and Southeast Asia. EBITDA...
FOPE Launches First Single-Brand Boutique in China at Hong Kong’s Harbour City
Sep 15, 2026
FOPE Group is expanding its presence in Asia with the launch of its first single-brand boutique in China, opening on 30 September in Hong Kong’s Harbour City mall in partnership with its local distributor. The boutique is aligned with the br...
FOPE strengthens European luxury footprint with new French subsidiary
Aug 25, 2026
FOPE Group has expanded its direct international presence by establishing FOPE France SAS, a wholly owned subsidiary based in Paris to drive commercial development in the French market. The move follows similar structures in the U.S., U.K., German...
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.