FOPE S.p.A. (IT:FPE)
:FPE
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FOPE S.p.A.
(FPE)
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Rating:68Neutral
Price Target:
€46.00
▲(21.05% Upside)
Action:Downgraded
Date:04/28/26
The score is driven primarily by solid fundamentals (strong revenue growth, healthy operating profitability, and improving leverage), offset by 2025 margin compression and less consistent cash conversion. Technicals are mixed with negative MACD and overbought stochastics, while valuation is reasonable with a moderate P/E and supportive dividend yield.
Positive Factors
Sustained multi-year revenue growth
FOPE has delivered durable top-line expansion, growing revenue more than threefold since 2020. Persistent revenue growth across years signals expanding distribution, stronger brand acceptance and rising order volumes—supporting long‑term scale benefits and room to absorb fixed costs.
Negative Factors
Sharp 2025 gross margin compression
A steep drop in gross margin signals structural pressure on core unit economics, likely from cost increases or adverse mix. If persistent, this erosion can materially reduce operating leverage, limit reinvestment capacity and weaken long‑term profitability despite revenue growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained multi-year revenue growth
FOPE has delivered durable top-line expansion, growing revenue more than threefold since 2020. Persistent revenue growth across years signals expanding distribution, stronger brand acceptance and rising order volumes—supporting long‑term scale benefits and room to absorb fixed costs.
Read all positive factors
FOPE S.p.A. (FPE) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€228.81M
Dividend Yield2.17%
Average Volume (3M)858.00
Price to Earnings (P/E)19.8
Beta (1Y)0.12
Revenue Growth27.43%
EPS Growth35.92%
CountryIT
Employees97
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)2.12
Shares Outstanding5,447,908
10 Day Avg. Volume700
30 Day Avg. Volume858
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)3.69
Price to Sales (P/S)2.26
P/FCF Ratio19.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€50.00Price Target Upside31.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.4
Revenue Forecast (FY)€109.75M
FOPE S.p.A. Business Overview & Revenue Model
Company Description
Fope S.p.A. produces and distributes jewelry in Italy and internationally. It offers bracelets, rings, necklaces, earrings, watches, and other collections. The company was founded in 1929 and is based in Vicenza, Italy....
How the Company Makes Money
FOPE makes money primarily by selling FOPE-branded fine jewelry. Revenue is generated from (1) wholesale distribution, where FOPE sells finished jewelry to a network of authorized retailers/jewelers who then sell to end consumers at retail prices;...
FOPE S.p.A. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 93.58M | 73.43M | 66.77M | 62.16M | 40.31M |
| Gross Profit | 16.60M | 21.13M | 23.73M | 20.02M | 12.36M |
| EBITDA | 20.52M | 14.91M | 16.60M | 15.19M | 8.87M |
| Net Income | 11.45M | 8.35M | 10.03M | 10.74M | 4.99M |
Balance Sheet | |||||
| Total Assets | 86.42M | 69.50M | 60.16M | 55.19M | 46.48M |
| Cash, Cash Equivalents and Short-Term Investments | 32.63M | 15.15M | 11.26M | 11.52M | 11.99M |
| Total Debt | 11.89M | 11.89M | 11.28M | 10.23M | 10.11M |
| Total Liabilities | 28.84M | 24.14M | 20.11M | 21.55M | 20.64M |
| Stockholders Equity | 57.34M | 45.17M | 39.84M | 33.48M | 25.76M |
Cash Flow | |||||
| Free Cash Flow | 10.97M | 7.43M | 2.55M | 3.07M | 4.69M |
| Operating Cash Flow | 14.34M | 11.14M | 5.84M | 5.32M | 5.73M |
| Investing Cash Flow | -2.97M | -3.29M | -3.05M | -3.27M | -1.06M |
| Financing Cash Flow | -4.62M | -3.96M | -3.06M | -2.52M | -2.37M |
FOPE S.p.A. Technical Analysis
Positive
38.00
Price Trends
38.70
Positive
39.14
Positive
38.70
Positive
Market Momentum
1.16
Positive
73.11
Negative
59.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:FPE, the sentiment is Positive. The current price of 38 is below the 20-day moving average (MA) of 41.47, below the 50-day MA of 38.70, and below the 200-day MA of 38.70, indicating a bullish trend. The MACD of 1.16 indicates Positive momentum. The RSI at 73.11 is Negative, neither overbought nor oversold. The STOCH value of 59.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:FPE.
FOPE S.p.A. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | €228.81M | 19.77 | ― | 2.17% | 27.43% | 35.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | €5.61B | 41.54 | 26.02% | 0.95% | 10.12% | 13.11% | |
55 Neutral | €1.57B | -16.55 | -21.64% | 1.24% | -5.66% | 27.38% |
* Consumer Cyclical Sector Average
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FOPE S.p.A. Corporate Events
FOPE Sets 2029 Growth Targets and Accelerates Global Luxury Expansion
May 12, 2026
FOPE is expanding its high-end jewellery footprint by reinforcing its presence in established international luxury markets while opening new territories and monobrand boutiques, notably a new store in Milan’s Quadrilatero della Moda. Leverag...
FOPE Grants Free Shares to General Manager Under 2025–2027 Incentive Plan
May 11, 2026
FOPE S.p.A. has allocated 13,300 ordinary shares at no cost to General Manager Piero Persi under the 2025–2027 share incentive plan for employees approved by shareholders. The transaction, executed off-exchange on 6 May 2026, reflects the co...
FOPE Updates Share Capital and Bylaws After Stock Grant Allocation
May 11, 2026
FOPE S.p.A., the Vicenza‑based luxury jewelry maker listed on Euronext Growth Milan, has updated its share capital to €5,447,908 divided into 5,447,908 no‑par‑value ordinary shares, following the free allocation of shares u...
FOPE boosts share capital as employees exercise stock grants
Apr 27, 2026
FOPE S.p.A., the Vicenza-based luxury jewellery maker listed on Euronext Growth Milan, has issued 13,300 new ordinary shares after the exercise of an equal number of rights under its 2025–2027 stock grant plan for employees. The move raises ...
FOPE Boosts Dividend as Strong 2025 Results Strengthen Financial Position
Apr 23, 2026
FOPE S.p.A., the Vicenza-based high-end jewellery group, reported strong 2025 results as shareholders approved the separate financial statements and a dividend of €1.10 per share, allocating €5.98 million to payouts and €4.02 mil...
FOPE convenes remote-only shareholders’ meeting to approve 2025 accounts
Apr 8, 2026
FOPE S.p.A., the Italian high-end jewelry manufacturer listed on Euronext Growth Milan, has called its Ordinary Shareholders’ Meeting for 23 April 2026, to be held exclusively via telecommunication with participation through a designated pro...
FOPE lifts revenues, profits and cash in 2025 and ups shareholder payout
Mar 23, 2026
FOPE reported strong 2025 results, with net revenues rising 27.4% to EUR 93.6 million and EBITDA increasing to EUR 20.5 million, sustaining a robust margin despite higher operating costs. The company’s international footprint remained key, w...
Fope grants 15,000 shares under 2025–2027 employee incentive plan
Mar 17, 2026
Fope S.p.A. disclosed a transaction involving Michele Chiappone, head of sales for the American market, classified as a person closely associated with a manager under EU market abuse rules. The filing concerns ordinary shares of Fope allocated off...
FOPE Adjusts Share Capital and Shareholder Structure After Stock Grant Plan
Mar 13, 2026
FOPE has updated its share capital to €5.43 million, corresponding to 5,434,608 no-par-value ordinary shares, after a bonus capital increase tied to its 2025–2027 Stock Grant Plan, resulting in the issuance of 15,000 new shares. The mo...
FOPE Increases Share Capital as 15,000 Rights Exercised Under Stock Grant Plan
Mar 11, 2026
FOPE has announced that 15,000 rights have been exercised under its 2025–2027 employee Stock Grant Plan, resulting in the issue of 15,000 new ordinary shares linked to a previously approved free capital increase. This move raises the company...
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.