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Stocks · Consumer discretionary · Apparel & Other Finishd Prods of Fabrics & Similar Matl

Ermenegildo Zegna N.V.

ZGN Clue Score70
Italy Fiscal year ends December CIK 0001877787
$12.68 +1.28% Close, 9 Oct 2026
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Price $12.68 −4.66% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 20 Dec 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue1,321.3Operating income88.6Net income21.7EPS, diluted0.11Fiscal year 2020Revenue1,014.7 −23.2%Operating income−22.6Net income−50.6 −332.5%EPS, diluted−0.25 −327.3%Fiscal year 2021Revenue1,292.4 +27.4%Operating income−94.0Net income−136.0EPS, diluted−0.67Fiscal year 2022Revenue1,492.8 +15.5%Operating income147.8Net income51.5EPS, diluted0.21Fiscal year 2023Revenue1,904.5 +27.6%Operating income208.1Net income121.5 +136.1%EPS, diluted0.48 +128.6%Fiscal year 2024Revenue1,946.6 +2.2%Operating income166.9Net income77.1 −36.6%EPS, diluted0.30 −37.5%Fiscal year 2025Revenue1,916.9 −1.5%Operating income139.5Net income98.6 +27.9%EPS, diluted0.38 +26.7%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,321.3 1,014.7 1,292.4 1,492.8 1,904.5 1,946.6 1,916.9
Growth −23.2% +27.4% +15.5% +27.6% +2.2% −1.5%
Operating income 88.6 −22.6 −94.0 147.8 208.1 166.9 139.5
Net income 21.7 −50.6 −136.0 51.5 121.5 77.1 98.6
Growth −332.5% +136.1% −36.6% +27.9%
EPS, diluted 0.11 −0.25 −0.67 0.21 0.48 0.30 0.38
Growth −327.3% +128.6% −37.5% +26.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Operating margin6.7%Net margin1.6%Free cash flow margin9.7%Fiscal year 2020Operating margin−2.2%Net margin−5.0%Free cash flow margin4.3%Fiscal year 2021Gross margin61.6%Operating margin−7.3%Net margin−10.5%Free cash flow margin15.6%Fiscal year 2022Gross margin62.2%Operating margin9.9%Net margin3.4%Free cash flow margin6.5%Fiscal year 2023Gross margin64.3%Operating margin10.9%Net margin6.4%Free cash flow margin11.5%Fiscal year 2024Gross margin66.6%Operating margin8.6%Net margin4.0%Free cash flow margin9.2%Fiscal year 2025Gross margin67.5%Operating margin7.3%Net margin5.1%Free cash flow margin13.3%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a 61.6% 62.2% 64.3% 66.6% 67.5%
Operating margin 6.7% −2.2% −7.3% 9.9% 10.9% 8.6% 7.3%
Net margin 1.6% −5.0% −10.5% 3.4% 6.4% 4.0% 5.1%
Free cash flow margin 9.7% 4.3% 15.6% 6.5% 11.5% 9.2% 13.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow174.1Capital expenditure−46.1Free cash flow128.0Buybacks0.0Dividends paid−14.9Fiscal year 2020Operating cash flow70.9Capital expenditure−27.6Free cash flow43.3 −66.2%Buybacks0.0Dividends paid−1.7Fiscal year 2021Operating cash flow281.2Capital expenditure−79.7Free cash flow201.5 +365.5%Buybacks−455.0Dividends paid−0.7Fiscal year 2022Operating cash flow146.4Capital expenditure−49.1Free cash flow97.3 −51.7%Buybacks0.0Dividends paid−26.0Fiscal year 2023Operating cash flow275.4Capital expenditure−57.0Free cash flow218.3 +124.4%Buybacks0.0Dividends paid−25.0Fiscal year 2024Operating cash flow279.1Capital expenditure−100.1Free cash flow179.0 −18.0%Dividends paid−30.3Fiscal year 2025Operating cash flow335.6Capital expenditure−80.5Free cash flow255.1 +42.5%Dividends paid−30.5
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 174.1 70.9 281.2 146.4 275.4 279.1 335.6
Capital expenditure −46.1 −27.6 −79.7 −49.1 −57.0 −100.1 −80.5
Free cash flow 128.0 43.3 201.5 97.3 218.3 179.0 255.1
Growth −66.2% +365.5% −51.7% +124.4% −18.0% +42.5%
Buybacks 0.0 0.0 −455.0 0.0 0.0 n/a n/a
Dividends paid −14.9 −1.7 −0.7 −26.0 −25.0 −30.3 −30.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash210.6Shareholders’ equity729.8Fiscal year 2020Cash317.3Total debt558.7Net cash (debt)−241.4Shareholders’ equity601.8Debt to equity0.93Fiscal year 2021Cash459.8Total debt471.6Net cash (debt)−11.9Shareholders’ equity601.2Debt to equity0.78Fiscal year 2022Cash254.3Total debt184.9Net cash (debt)69.4Shareholders’ equity678.9Debt to equity0.27Fiscal year 2023Cash296.3Total debt113.3Net cash (debt)183.0Shareholders’ equity840.3Debt to equity0.13Fiscal year 2024Cash219.1Total debt196.4Net cash (debt)22.7Shareholders’ equity916.1Debt to equity0.21Fiscal year 2025Cash220.1Total debt162.1Net cash (debt)58.0Shareholders’ equity1,031.0Debt to equity0.16
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 210.6 317.3 459.8 254.3 296.3 219.1 220.1
Total debt n/a 558.7 471.6 184.9 113.3 196.4 162.1
Net cash (debt) n/a −241.4 −11.9 69.4 183.0 22.7 58.0
Shareholders’ equity 729.8 601.8 601.2 678.9 840.3 916.1 1,031.0
Debt to equity n/a 0.93 0.78 0.27 0.13 0.21 0.16

In millions of EUR, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a 61.6% 62.2% 64.3% 66.6% 67.5%
6.7% −2.2% −7.3% 9.9% 10.9% 8.6% 7.3%
5.2% −3.1% −7.5% 6.8% 8.9% 6.7% 7.3%
1.6% −5.0% −10.5% 3.4% 6.4% 4.0% 5.1%
9.7% 4.3% 15.6% 6.5% 11.5% 9.2% 13.3%
Spending
n/a n/a 63.7% 46.6% 47.3% 51.8% 53.9%
3.5% 2.7% 6.2% 3.3% 3.0% 5.1% 4.2%
63.3% n/a n/a 35.4% 19.8% 30.4% 21.8%
Returns
3.0% −8.4% −22.6% 7.6% 14.5% 8.4% 9.6%
n/a −2.1% −5.5% 2.1% 4.4% 2.7% 3.5%
Balance and payout
n/a 0.93 0.78 0.27 0.13 0.21 0.16
68.6% n/a n/a 50.6% 20.6% 39.3% 30.9%
11.7% 4.0% 226.2% 26.8% 11.5% 16.9% 12.0%

Shown in EUR as filed; the screener converts to dollars.