Amplifon S.p.A. (IT:AMP)
:AMP
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Amplifon S.p.A.
(AMP)
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Rating:56Neutral
Price Target:
€11.50
▲(13.64% Upside)
Action:Reiterated
Date:05/18/26
Overall score is held back primarily by weakening financial performance (sharp TTM revenue decline and margin/ROE compression, with leverage still elevated). Technicals are moderately supportive in the short term (above 20D/50D with positive MACD), but valuation remains a notable headwind due to the high P/E despite a moderate dividend yield.
Positive Factors
Cash Generation
Sustained positive TTM operating and free cash flow indicate the core retail/service model still converts revenue into cash. This durable cash generation supports working capital, funding for clinic operations, and servicing debt, giving financial flexibility during recovery periods.
Negative Factors
Revenue Momentum
A pronounced ~33.5% TTM revenue drop is a structural concern: it reduces operating leverage, weakens pricing and cross-sell dynamics, and prolongs the timeline to restore scale economics. Top-line weakness undermines durable earnings and cash-flow trajectories.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Sustained positive TTM operating and free cash flow indicate the core retail/service model still converts revenue into cash. This durable cash generation supports working capital, funding for clinic operations, and servicing debt, giving financial flexibility during recovery periods.
Read all positive factors
Amplifon S.p.A. (AMP) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€2.33B
Dividend Yield2.13%
Average Volume (3M)1.87M
Price to Earnings (P/E)49.1
Beta (1Y)0.85
Revenue Growth-1.50%
EPS Growth-51.14%
CountryIT
Employees11,603
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.31
Shares Outstanding226,388,630
10 Day Avg. Volume1,761,726
30 Day Avg. Volume1,873,340
Financial Highlights & Ratios
PEG Ratio-0.91
Price to Book (P/B)3.12
Price to Sales (P/S)1.30
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€10.40Price Target Upside2.77% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.75
Revenue Forecast (FY)€2.43B
Amplifon S.p.A. Business Overview & Revenue Model
Company Description
Amplifon S.p.A. retails hearing care products and services that help people rediscover various emotions of sound. The company offers ampli-easy, ampli-mini, ampli-connect, and ampli-energy hearing devices. It also provides fitting of customized pr...
How the Company Makes Money
Amplifon primarily makes money through retail hearing-care operations. Its main revenue stream is the sale of hearing aids and related devices (typically bundled with professional services such as hearing tests, fitting, and fine-tuning). A signif...
Amplifon S.p.A. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.39B | 2.40B | 2.41B | 2.26B | 2.12B | 1.95B |
| Gross Profit | 275.24M | 199.02M | 1.36B | 548.45M | 1.18B | 1.11B |
| EBITDA | 499.85M | 514.10M | 557.25M | 522.01M | 513.82M | 468.72M |
| Net Income | 68.97M | 91.33M | 145.37M | 155.14M | 178.53M | 157.78M |
Balance Sheet | ||||||
| Total Assets | 3.93B | 3.57B | 3.99B | 3.69B | 3.58B | 3.52B |
| Cash, Cash Equivalents and Short-Term Investments | 309.56M | 308.88M | 288.85M | 194.00M | 229.54M | 318.44M |
| Total Debt | 1.80B | 1.53B | 1.72B | 1.52B | 1.50B | 1.61B |
| Total Liabilities | 2.85B | 2.57B | 2.84B | 2.59B | 2.54B | 2.59B |
| Stockholders Equity | 1.08B | 998.21M | 1.15B | 1.10B | 1.04B | 925.18M |
Cash Flow | ||||||
| Free Cash Flow | 157.72M | 0.00 | 366.19M | 271.89M | 342.99M | 348.97M |
| Operating Cash Flow | 266.69M | 274.85M | 449.35M | 413.54M | 458.62M | 462.37M |
| Investing Cash Flow | -117.11M | -178.97M | -335.10M | -261.48M | -193.78M | -533.61M |
| Financing Cash Flow | -201.89M | -172.65M | -18.85M | -135.06M | -353.80M | -208.64M |
Amplifon S.p.A. Technical Analysis
Neutral
10.12
Price Trends
9.48
Positive
11.20
Negative
12.67
Negative
Market Momentum
0.27
Negative
54.19
Neutral
32.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:AMP, the sentiment is Neutral. The current price of 10.12 is below the 20-day moving average (MA) of 10.15, above the 50-day MA of 9.48, and below the 200-day MA of 12.67, indicating a neutral trend. The MACD of 0.27 indicates Negative momentum. The RSI at 54.19 is Neutral, neither overbought nor oversold. The STOCH value of 32.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IT:AMP.
Amplifon S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
IT:AMP
Amplifon S.p.A.
10.35
-8.57
-45.29%
IT:SFL
Safilo Group SpA
1.55
0.64
71.29%
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.