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Moncler
(OTC:MONRY)
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Rating:63Neutral
Price Target:
$52.00
â–¼(-6.24% Downside)
Action:Reiterated
Date:07/24/26
The score is primarily supported by solid financial fundamentals (strong margins and positive free cash flow) and a cautiously positive earnings update with healthy net cash. These are meaningfully offset by weak technicals (price below key moving averages and negative MACD) and near-term demand/visibility headwinds highlighted on the earnings call (June slowdown, EMEA softness, and higher working capital).
Positive Factors
High and resilient profitability
Very strong gross and operating margins indicate substantial brand pricing power and a favorable luxury product mix. Maintaining this profitability gives Moncler capacity to fund marketing, stores, product development, and other investments while absorbing moderate demand volatility.
Negative Factors
Recent revenue slowdown
The recent revenue decline shows that Moncler's strong long-term profitability has not eliminated demand sensitivity. Slower top-line growth can reduce operating leverage, make inventory planning harder, and constrain the pace at which the company can compound earnings over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High and resilient profitability
Very strong gross and operating margins indicate substantial brand pricing power and a favorable luxury product mix. Maintaining this profitability gives Moncler capacity to fund marketing, stores, product development, and other investments while absorbing moderate demand volatility.
Read all positive factors
Moncler (MONRY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.20B
Dividend Yield3.37%
Average Volume (3M)2.05K
Price to Earnings (P/E)18.8
Beta (1Y)1.00
Revenue Growth10.55%
EPS Growth11.63%
CountryUS
Employees8,533
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)2.31
Shares Outstanding274,805,970
10 Day Avg. Volume0
30 Day Avg. Volume2,046
Financial Highlights & Ratios
PEG Ratio-3.46
Price to Book (P/B)3.90
Price to Sales (P/S)4.99
P/FCF Ratio21.10
Enterprise Value/Market Cap1.26
Enterprise Value/Revenue5.18
Enterprise Value/Gross Profit6.62
Enterprise Value/Ebitda12.92
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.69
Revenue Forecast (FY)$3.71B
Moncler Business Overview & Revenue Model
Company Description
Moncler S.p.A., along with its subsidiaries, specializes in the design, production, and distribution of premium apparel and complementary accessories for men, women, and children. These offerings are primarily marketed under its esteemed Moncler a...
How the Company Makes Money
Moncler makes money primarily by selling luxury apparel and accessories under the Moncler brand. Its revenue model is anchored in (1) Direct-to-Consumer (DTC) sales—products sold through Moncler directly operated stores (flagships and boutiques) a...
Moncler Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call featured solid first‑half operating and financial performance: broad revenue growth (group +9% H1), strong Stone Island momentum, healthy margins (19% EBIT) and a robust net cash position (~EUR 1.112bn). Management highlighted successful strategic and creative initiatives (first end‑to‑end Spring/Summer, major awards) and improving free cash flow. Offsetting these positives were a June slowdown driven by weaker tourism and traffic (EMEA -8%), flat to slightly negative volumes in Q2, weaker online in Europe, higher inventory/working capital and some one‑off costs. Given the strength of the headline metrics and momentum across brands, balanced against the clear execution and demand headwinds mainly concentrated in Q2/EMEA, the tone is cautiously positive.Positive Updates
Group revenue growth (H1 and Q2)
Group revenues of EUR 1.29bn in H1, up 9% at constant FX; Q2 group revenues up 5% at constant FX.
Negative Updates
Softening in June and Q2 volume trends
June materially softer than April/May due to a significant decline in traffic and tourism; Q2 volumes were flattish to slightly negative, with pricing (low single‑digit) the main contributor to Q2 growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Group revenue growth (H1 and Q2)
Group revenues of EUR 1.29bn in H1, up 9% at constant FX; Q2 group revenues up 5% at constant FX.
Read all positive updates
Company Guidance
The management reiterated modest near-term guidance and flagged key operating targets alongside H1 metrics: Group H1 revenues were €1.29bn (+9% at constant FX; Q2 +5%), with Moncler accounting for 84% of turnover (Moncler H1 +9%, Q2 +3%; by region Q2: Asia +12%, Americas +4%, EMEA -8%) and Stone Island 16% of turnover (H1 & Q2 +11%; DTC +15%, wholesale +6%). H1 EBIT was €245.4m (19% margin), net income €165m (12.8% margin), gross profit €995m (77.2%), net cash €1.112bn, free cash flow €34m (vs €15m LY) after a €374m dividend, net CapEx €89m (capex incidence expected to revert to ~6% by year‑end), net working capital ~10% higher vs LY with a plan to return toward ~9.7%, and lease liabilities €1.199bn. For the medium term they reiterated an approximate 4% space contribution target and indicated pricing should remain low‑ to mid‑single digit (noting 2027 commentary), while marketing spend was in line with H1 and the full‑year marketing budget target was left unchanged.Moncler Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.21B | 3.01B | 3.11B | 2.98B | 2.60B | 2.05B |
| Gross Profit | 2.51B | 2.35B | 2.43B | 2.30B | 1.76B | 1.37B |
| EBITDA | 1.29B | 1.27B | 1.25B | 1.19B | 1.04B | 827.47M |
| Net Income | 637.69M | 601.94M | 639.60M | 611.93M | 606.70M | 393.53M |
Balance Sheet | ||||||
| Total Assets | 5.73B | 5.96B | 5.50B | 4.99B | 4.64B | 4.27B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 1.23B | 1.26B | 998.80M | 882.25M | 932.72M |
| Total Debt | 1.24B | 1.13B | 957.31M | 848.59M | 912.78M | 913.92M |
| Total Liabilities | 2.08B | 2.11B | 1.92B | 1.78B | 1.74B | 1.77B |
| Stockholders Equity | 3.65B | 3.85B | 3.59B | 3.21B | 2.90B | 2.50B |
Cash Flow | ||||||
| Free Cash Flow | 804.32M | 711.18M | 832.37M | 738.44M | 492.72M | 733.49M |
| Operating Cash Flow | 1.04B | 922.61M | 1.02B | 914.87M | 662.58M | 865.31M |
| Investing Cash Flow | -790.73M | -288.20M | -267.43M | -174.07M | -167.10M | -621.41M |
| Financing Cash Flow | -668.60M | -578.49M | -535.17M | -596.63M | -391.25M | -345.18M |
Moncler Technical Analysis
Negative
55.46
Price Trends
53.22
Negative
56.45
Negative
59.13
Negative
Market Momentum
-1.26
Negative
36.91
Neutral
6.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MONRY, the sentiment is Negative. The current price of 55.46 is above the 20-day moving average (MA) of 49.76, above the 50-day MA of 53.22, and below the 200-day MA of 59.13, indicating a bearish trend. The MACD of -1.26 indicates Negative momentum. The RSI at 36.91 is Neutral, neither overbought nor oversold. The STOCH value of 6.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MONRY.
Moncler Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $22.10B | 23.09 | 35.64% | 1.03% | 14.68% | 26.22% | |
72 Outperform | $1.16B | 8.46 | 7.53% | 1.48% | -8.74% | -22.98% | |
63 Neutral | $13.20B | 18.84 | 17.01% | 3.37% | 10.55% | 11.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $5.37B | 39.48 | 7.60% | 1.08% | 10.78% | -15.63% | |
53 Neutral | $3.75B | -22.98 | -3.49% | 0.18% | 1.64% | -140.84% | |
51 Neutral | $5.90B | 21.43 | 15.95% | 2.40% | -0.16% | 212.77% |
* Consumer Cyclical Sector Average
MONRY
Moncler
48.73
-8.85
-15.37%
GIII
G-III Apparel Group
27.07
1.81
7.17%
PVH
PVH
81.35
1.42
1.78%
RL
Ralph Lauren
371.28
57.38
18.28%
VFC
VF
15.00
1.26
9.19%
ZGN
Ermenegildo Zegna
12.68
4.01
46.27%
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.