Ariston Holding NV (ARIS) AI Stock Analysis

• Market Cap: €1.66B
• Dividend Yield: 1.77%
• Average Volume (3M): 231.76K
• Price to Earnings (P/E): 19.0
• Beta (1Y): 1.00
• Revenue Growth: -7.48%
• EPS Growth: 62.04%
• Country: IT
• Employees: 9,947
• Sector: Industrials
• Sector Strength: 72
• Industry: Business Equipment & Supplies
• EPS (TTM): 0.08
• Shares Outstanding: 125,505,005
• 10 Day Avg. Volume: 210,029
• 30 Day Avg. Volume: 231,756
• PEG Ratio: -5.15
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 0.47
• P/FCF Ratio: 6.66
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: €5.00 ▲(11.61% Upside)

Ariston Holding NV's overall stock score reflects a stable financial position with strong cash flow and a solid balance sheet. The stock shows positive momentum, although mixed short-term trends suggest caution. Valuation metrics indicate the stock is fairly valued, with a reasonable P/E ratio and a modest dividend yield. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Cash generation / Free cash flow

Consistently strong operating cash conversion and improving free cash flow provide durable funding for maintenance capex, R&D, dividends and debt servicing. Strong cash generation increases resilience to cyclical demand and supports reinvestment for long-term growth.

Balance sheet strength

A solid equity base and only moderate leverage give the company financial flexibility to fund M&A, capex or weather downturns without immediate refinancing pressure. This structural strength supports long-term stability and strategic optionality.

Diversified product and channel model

A broad product portfolio and multi-channel distribution (installers, wholesalers, retail) plus after-sales and spare parts create recurring revenue from an installed base. This business model supports stable aftermarket cashflows and reduces dependence on single channels.

Negative Factors

Declining revenue trends

Negative revenue growth signals weakening top-line momentum and raises concern about market share, demand or pricing. Persisting declines constrain operating leverage, limit reinvestment capacity, and could erode scale advantages over several quarters if not reversed.

Margin compression

Sustained declines in operating and net margins point to structural cost pressures, pricing limitations, or efficiency gaps. Lower margins reduce cash available for growth and returns, making long-term profitability more sensitive to input cost swings and competitive pressure.

Rising debt and weaker returns

A recent uptick in leverage alongside falling ROE weakens the balance-sheet cushion and raises financing risk if cash flows falter. Over the medium term, higher debt servicing and lower efficiency in capital use constrain investment and shareholder return potential.

Ariston Holding NV Business Overview & Revenue Model

Company Description

Ariston Holding N.V., through its subsidiaries, produces and distributes hot water and space heating solutions for commercial and residential use worldwide. The company operates in three divisions: Thermal Comfort, Burners, and Components. It offers water heating products, such as heat pumps, gas storage and gas instant water heaters, cylinders, solar, and electric storage and electric instant water heaters; space heating products comprising boilers, heat pumps, hybrid systems, air conditioning products, thermostats, and direct services and parts; and domestic heat-recovery ventilation, air handling, and combined heat and power services. The company also provides burners and components. It offers its products under the Ariston, Elco, Chaffoteaux, Racold, Calorex, NTI, HTP, ATAG, Thermowatt, Cuenod, and Ecoflam brands. Ariston Holding N.V. was founded in 1930 and is headquartered in Milan, Italy. Ariston Holding N.V. is a subsidiary of Merloni Holding S.P.A.

How the Company Makes Money

Ariston Holding NV generates revenue primarily through the sale of its heating and water heating products to both residential and commercial customers. The company operates a multi-channel distribution model that includes direct sales, partnerships with retailers, and collaborations with installation professionals. Key revenue streams include the sale of boilers, heat pumps, and water heaters, as well as associated services such as installation, maintenance, and repair. Strategic partnerships with construction firms and energy companies also contribute significantly to Ariston's earnings, enabling the company to expand its market reach and enhance product offerings in line with evolving regulatory standards and consumer preferences for energy-efficient solutions.

Ariston Holding NV Financial Statement Overview

Summary

Ariston Holding NV demonstrates a stable financial position with robust cash flow management and a strong balance sheet. However, challenges in revenue growth and maintaining profit margins could impact future performance. Improvements in operational efficiency and cost management are needed to enhance profitability.

Income Statement

Ariston Holding NV shows moderate performance in its income statement. The gross profit margin has been consistent but has seen a decrease from previous highs, suggesting some cost pressures. Net profit margin has significantly declined, indicating challenges in maintaining bottom-line profitability. Revenue growth rate is negative, showing a concerning decline in sales over the latest period. The EBIT and EBITDA margins have also decreased, reflecting operational inefficiencies or increased costs.

Balance Sheet

The balance sheet is fairly strong with a solid equity base. The debt-to-equity ratio is moderate, suggesting manageable leverage levels. However, there has been a slight increase in debt in the most recent period. Return on equity has declined, pointing to reduced efficiency in generating returns for shareholders. The equity ratio shows a stable proportion of equity financing, indicating financial stability.

Cash Flow

Cash flow metrics indicate a solid cash position with free cash flow improving over time. The operating cash flow to net income ratio is strong, showing good cash generation ability relative to profits. Free cash flow to net income ratio has improved, suggesting effective capital expenditure management. However, free cash flow growth has been inconsistent in recent years, which might pose future challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.68B	2.68B	3.15B	2.42B	1.99B	1.66B
Gross Profit	1.07B	993.50M	1.28B	765.10M	674.00M	633.00M
EBITDA	285.10M	202.30M	420.80M	286.70M	250.30M	220.50M
Net Income	93.10M	2.50M	191.20M	140.30M	136.50M	96.70M
Balance Sheet
Total Assets	3.47B	3.57B	3.87B	2.88B	2.32B	1.82B
Cash, Cash Equivalents and Short-Term Investments	234.10M	369.20M	456.40M	1.01B	689.70M	462.50M
Total Debt	858.10M	901.40M	1.02B	932.70M	492.30M	594.10M
Total Liabilities	2.05B	2.14B	2.37B	1.87B	1.44B	1.38B
Stockholders Equity	1.42B	1.43B	1.50B	1.01B	878.30M	446.50M
Cash Flow
Free Cash Flow	230.50M	190.70M	144.90M	52.30M	112.60M	209.00M
Operating Cash Flow	319.80M	306.50M	303.50M	130.90M	190.70M	253.50M
Investing Cash Flow	-134.70M	-134.60M	-709.90M	-133.80M	-84.70M	-67.90M
Financing Cash Flow	-205.20M	-264.30M	-123.40M	322.10M	101.90M	-35.20M

Ariston Holding NV Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ARIS, the sentiment is Positive. The current price of 4.48 is below the 20-day moving average (MA) of 4.55, above the 50-day MA of 4.37, and above the 200-day MA of 4.32, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 63.30 is Neutral, neither overbought nor oversold. The STOCH value of 88.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ARIS.

Ariston Holding NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SOL	73 Outperform	€4.12B	26.58	15.43%	0.80%	11.37%	10.82%
ARIS	70 Outperform	€1.66B	18.95	―	1.77%	-7.48%	62.04%
A2A	66 Neutral	€7.96B	10.79	13.23%	4.37%	8.61%	-22.69%
ACE	64 Neutral	€4.99B	10.70	14.57%	4.33%	-26.96%	25.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
IRE	61 Neutral	€3.46B	11.65	9.51%	5.06%	10.48%	9.06%

Ariston Holding NV Corporate Events

Ariston Buys Back 21,445 Shares to Support Long-Term Incentive Plans

Ariston Holding N.V. has continued to execute its share buyback programme, repurchasing 21,445 ordinary shares between 26 and 30 January 2026 for a total consideration of €101,817.46 at an average price of €4.7478 per share. Following these transactions, the company now holds 4,774,212 treasury shares, representing 3.2346% of its issued ordinary shares and 1.2813% of its total share capital. The ongoing buyback, managed by Mediobanca under a mandate to acquire up to 1,000,000 shares by May 2027, is aimed at servicing existing and future long-term incentive plans for employees and management across the Ariston Group, underlining the company’s continued use of equity-based remuneration and active capital management.

The most recent analyst rating on (IT:ARIS) stock is a Hold with a EUR5.00 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.

Ariston Sets 2026 Financial Calendar and Signals Possible May Dividend

Ariston Holding N.V. has published its 2026 corporate events calendar, detailing the timing of key governance and financial disclosure milestones for the year. The Board of Directors will review and approve the 2025 separate and consolidated financial statements on 3 March 2026, followed by the Annual General Meeting to adopt the 2025 financial statements on 5 May. Additional periodic financial information, including revenue by division and key profitability and cash flow metrics, will be examined on 6 May and 4 November for the first and third quarters, respectively, while the 2026 half-year report is scheduled for approval on 29 July. The company also indicates that any dividend related to 2025 results, if approved, is expected to be paid in May 2026, and it has scheduled analyst and investor conference calls around each major disclosure, underscoring its commitment to regular, transparent communication with the market.

The most recent analyst rating on (IT:ARIS) stock is a Buy with a EUR4.50 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.

Ariston Continues Share Buyback to Support Long-Term Incentive Plans

Ariston Holding N.V. repurchased 23,920 ordinary shares on the market between 15 and 19 December 2025 under its ongoing share buyback programme, representing 0.0162% of its outstanding ordinary shares and 0.0064% of total share capital, for a total consideration of €106,361.28 at an average price of €4.4465 per share. Following these transactions, Ariston now holds 4,634,120 own shares, equal to 3.1396% of issued ordinary shares and 1.2437% of total share capital, as it continues executing a mandate granted to Mediobanca S.p.A. to acquire up to 1 million shares by May 2027 to meet obligations under existing and future long-term incentive plans for employees and members of management, signalling ongoing use of equity-based remuneration and a disciplined capital management approach.

The most recent analyst rating on (IT:ARIS) stock is a Buy with a EUR4.50 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.

Ariston Acquires Riello to Boost Climate Comfort and Combustion Expertise

Ariston Holding NV has announced the acquisition of Riello Group, a renowned player in climate comfort and combustion technologies. This strategic move is expected to enhance Ariston’s role in Italy’s climate comfort sector and expand its global expertise in combustion technologies. The acquisition will provide Ariston with access to complementary sales channels and product lines, strengthening its presence in North America and expanding its product portfolio for commercial and industrial segments. The deal, valued at 289 million euros, is anticipated to unlock significant value creation through technological synergies and enhanced market positioning.

The most recent analyst rating on (IT:ARIS) stock is a Buy with a EUR4.50 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.

Ariston Launches Share Buyback Program to Boost Long-term Incentives

Ariston Holding N.V. has announced the initiation of a share buyback program to support its long-term incentive plans for employees and management. This program, which will run until May 2027, aims to increase the company’s reserve of own shares, capitalizing on a share price that does not currently reflect the company’s true value. The program will be executed in compliance with EU regulations and is expected to enhance shareholder value and align with the company’s strategic goals.

The most recent analyst rating on (IT:ARIS) stock is a Hold with a EUR4.00 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.

Ariston Holding NV Reports Strong Q3 2025 Growth and Expands Global Operations

Ariston Holding NV reported a strong performance in the third quarter of 2025, with a 4.2% organic growth and a 110 basis points margin improvement. The company improved its 2025 organic growth guidance, driven by the heating business, especially in Europe, and continued solid performance in water heating. The company is also investing in future growth by constructing a new plant in Italy and acquiring a plant in India, which is expected to enhance its market position and operational capabilities.

The most recent analyst rating on (IT:ARIS) stock is a Hold with a EUR4.00 price target. To see the full list of analyst forecasts on Ariston Holding NV stock, see the IT:ARIS Stock Forecast page.