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Ermenegildo Zegna NV (ZGN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · APPAREL MANUFACTURING · DATA UPDATED 2026-09-19

Ermenegildo Zegna NV (ZGN) operates in the APPAREL MANUFACTURING industry and is headquartered in Milan, Italy with about 7,600 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, ZGN reported €1.8B in revenue and €95M in net income.

Ermenegildo Zegna N.V., together with its subsidiaries, designs, produces, markets, and distributes luxury menswear and womenwear, children's clothing, footwear, leather goods, and other accessories worldwide.

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ZGN Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2025-12-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Total Revenue€1.9B€1.8B€1.9B€1.9B€1.5B€1.3B€1.0B€1.3B€1.2B
Gross Profit€1.2B€1.0B€1.3B€1.2B€928M€801M€538M€777M€727M
Gross Margin %61.6%55.6%66.6%64.3%62.2%62.0%52.7%58.8%61.4%
Operating Income (EBIT)€155M€157M€167M€208M€148M(€94M)(€23M)€89M€95M
Operating Margin %8.1%8.5%8.6%10.9%9.9%-7.3%-2.2%6.7%8.0%
Net Income€98M€95M€77M€122M€51M(€136M)(€51M)€22M€38M
Net Margin %5.1%5.1%4.0%6.4%3.5%-10.5%-5.0%1.7%3.2%
EBITDA€326M€392M€406M€393M€336M€71M€151M€265M€248M
Earnings Per Share (EPS)€0.38€0.36€0.30€0.48€0.21€-0.67€-0.23€0.09€0.16
Shares Outstanding (M)266M261M254M252M241M203M222M242M242M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZGN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2025-12-312025-06-302024-12-312024-06-302024-03-312023-12-312023-09-302023-06-30
Total Revenue€982M€928M€987M€960M€1.0B€1.0B€501M€903M
Gross Profit€550M€626M€659M€637M€645M€644M€322M€580M
Gross Margin %56.0%67.5%66.8%66.4%64.4%64.3%64.4%64.2%
Operating Income (EBIT)€94M€61M€94M€73M€92M€92M€51M€117M
Operating Margin %9.5%6.6%9.5%7.6%9.2%9.2%10.3%12.9%
Net Income€55M€43M€52M€25M€76M€76M€38M€46M
Net Margin %5.6%4.6%5.3%2.6%7.5%7.5%7.5%5.1%
EBITDA€215M€111M€143M€117M€139M€70M€154M
Earnings Per Share (EPS)€0.21€0.17€0.20€0.10€0.29€0.30€0.15€0.19
Shares Outstanding (M)266M256M255M253M258M250M258M246M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZGN Free Cash Flow History

Cash flowTTM → 2025-12-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Cash from Operations (CFO)€333M€322M€279M€275M€146M€281M€71M€174M€193M
Capital Expenditures (CapEx)€86M€80M€126M€78M€73M€94M€39M€60M€60M
Free Cash Flow (FCF)€248M€242M€154M€198M€73M€187M€32M€115M€133M
FCF Margin %13.0%13.2%7.9%10.4%4.9%14.5%3.1%8.7%11.2%
Dividends Paid€30M€29M€30M€25M€22M€0M€2M€13M€15M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZGN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2025-12-312025-06-302024-12-312024-06-302024-03-312023-12-312023-09-302023-06-30
Cash from Operations (CFO)€235M€99M€166M€121M€165M€275M€84M€107M
Capital Expenditures (CapEx)€44M€42M€52M€48M€31M€78M€16M€26M
Free Cash Flow (FCF)€191M€57M€114M€73M€134M€198M€68M€81M
FCF Margin %19.5%6.1%11.6%7.6%13.4%19.7%13.6%9.0%
Dividends Paid€30M€0M€30M€25M€25M€13M€4M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZGN Balance Sheet History

Balance sheet2025-12-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Total Assets€2.8B€2.8B€2.8B€2.8B€2.4B€2.5B€2.4B€2.6B€2.8B
Cash & Cash Equivalents€220M€220M€219M€296M€254M€460M€317M€211M€218M
Total Liabilities€1.7B€1.7B€1.9B€1.9B€1.7B€1.8B€1.8B€1.9B€2.1B
Total Debt (Short + Long-Term)€387M€387M€517M€525M€583M€736M€762M€741M€868M
Total Shareholders' Equity€1.0B€1.0B€916M€840M€679M€601M€602M€689M€691M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ZGN viewer.

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