Sanlorenzo S.p.A. (SL) AI Stock Analysis

• Market Cap: €1.21B
• Dividend Yield: 2.87%
• Average Volume (3M): 39.49K
• Price to Earnings (P/E): 10.7
• Beta (1Y): 0.75
• Revenue Growth: 13.72%
• EPS Growth: 7.57%
• Country: IT
• Employees: 1,659
• Sector: Consumer Cyclical
• Sector Strength: 83
• Industry: Auto - Recreational Vehicles
• EPS (TTM): 0.71
• Shares Outstanding: 35,605,835
• 10 Day Avg. Volume: 58,493
• 30 Day Avg. Volume: 39,491
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: €39.25
• Price Target Upside: 12.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 68 Neutral
• Price Target: €33.00 ▼(-5.17% Downside)

Sanlorenzo S.p.A. benefits from strong revenue growth and a favorable valuation, with a low P/E ratio and attractive dividend yield. However, rising debt and negative free cash flow pose risks that need to be managed. Technical indicators suggest stable market conditions with potential for upward movement.

Positive Factors

Earnings

Net profit beat forecast by 4%, closing at EUR 21.2M, thanks to fiscal benefits which more than offset higher financial costs.

Order Intake

Sanlorenzo's steady order intake was better than forecast and management's outlook is reassuring, confirming Sanlorenzo's resilience supported by loyal customers, strong reputation, and high-end positioning.

Stock Valuation

The analyst maintains a BUY rating on Sanlorenzo, viewing the current stock valuation as undemanding despite temporary order intake contraction.

Negative Factors

Cash Flow

Free cash flow was lower than expected due to negative changes in working capital from shifts to direct distribution in key regions.

Order Momentum

Weak order intake momentum is expected due to macro uncertainty delaying final orders.

Revenue

Sanlorenzo stand-alone closed with revenues down 2.6% year-over-year, as growth in the super-yacht division did not offset the decrease in the yacht division.

Sanlorenzo S.p.A. Business Overview & Revenue Model

Company Description

Sanlorenzo S.p.A. designs, builds, and sells yachts and pleasure boats in Europe, the Asia-Pacific, the Americas, the Middle East, and Africa. The company operates through three divisions: Yacht, Superyacht, and Bluegame. It provides maintenance and charter services, as well as sells its own and other pre-owned yachts; and sport utility yachts under the Sanlorenzo and Bluegame brands. The company was formerly known as Cantieri Navali San Lorenzo SpA and changed its name to Sanlorenzo S.p.A in 2005. Sanlorenzo S.p.A was founded in 1958 and is based in Ameglia, Italy.

How the Company Makes Money

Sanlorenzo S.p.A. generates revenue primarily through the sale of its luxury yachts, which are crafted with a high degree of customization to meet individual client specifications. The company offers various models spanning different sizes and styles, including motor yachts, superyachts, and explorer yachts, each tailored to cater to the unique preferences of its clientele. Sanlorenzo's revenue model is bolstered by its reputation for quality craftsmanship and innovative design. Additionally, the company benefits from strategic partnerships with luxury brands and suppliers, enhancing its product offerings and market presence. After-sales services, including yacht maintenance and upgrades, also contribute to its revenue streams, ensuring customer loyalty and long-term engagement.

Sanlorenzo S.p.A. Financial Statement Overview

Summary

Sanlorenzo S.p.A. shows strong revenue growth and stable profitability, supported by a solid balance sheet. However, rising debt levels and negative free cash flow in the TTM period are concerns that need addressing to maintain financial health.

Income Statement

Sanlorenzo S.p.A. has demonstrated solid revenue growth with a notable increase from 2020 to 2025. The TTM revenue shows a slight decline compared to 2024, but overall the trend is positive. Gross profit margins are strong, though the TTM data indicates a significant drop compared to previous years, suggesting increased cost pressures. Net profit margins are stable, showing the company's ability to maintain profitability despite revenue fluctuations.

Balance Sheet

The company's balance sheet reflects a healthy equity position with a Debt-to-Equity ratio that remains manageable. Stockholders' equity has consistently increased, highlighting stability. However, the increase in total debt in the TTM period points to rising leverage, which could pose a risk if earnings do not grow to cover the additional debt.

Cash Flow

Sanlorenzo S.p.A. faces challenges in cash flow management, evident from the negative free cash flow in the TTM period, driven by high capital expenditures. Operating cash flow remains positive, suggesting operational efficiency, but the free cash flow trend indicates potential liquidity concerns if capital spending continues at high levels without revenue growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.01B	1.03B	866.71M	817.89M	673.52M	533.14M
Gross Profit	302.77M	741.76M	151.24M	510.76M	354.81M	292.98M
EBITDA	182.97M	181.47M	163.46M	130.01M	94.63M	69.18M
Net Income	104.69M	103.12M	92.84M	74.15M	51.01M	34.51M
Balance Sheet
Total Assets	1.17B	1.11B	841.08M	743.79M	595.04M	502.37M
Cash, Cash Equivalents and Short-Term Investments	185.54M	171.12M	214.01M	197.37M	141.27M	94.36M
Total Debt	213.62M	143.31M	76.02M	100.02M	100.23M	90.66M
Total Liabilities	709.97M	667.35M	481.12M	453.71M	365.90M	316.98M
Stockholders Equity	455.07M	436.14M	358.27M	288.53M	229.04M	185.75M
Cash Flow
Free Cash Flow	-19.90M	-18.47M	72.65M	95.16M	48.62M	15.18M
Operating Cash Flow	33.29M	30.86M	117.15M	145.11M	97.83M	46.00M
Investing Cash Flow	-75.30M	-84.97M	-51.08M	-69.15M	-49.62M	-31.07M
Financing Cash Flow	37.34M	-2.74M	-17.37M	-70.91M	-1.29M	19.25M

Sanlorenzo S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 34.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:SL, the sentiment is Positive. The current price of 34.8 is above the 20-day moving average (MA) of 31.23, above the 50-day MA of 30.37, and above the 200-day MA of 30.33, indicating a bullish trend. The MACD of 0.60 indicates Negative momentum. The RSI at 58.23 is Neutral, neither overbought nor oversold. The STOCH value of 37.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:SL.

Sanlorenzo S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SL	68 Neutral	€1.21B	10.71	25.87%	2.87%	13.72%	7.57%
Sector *	61 Neutral	$17.97B	12.87	-5.30%	2.97%	1.26%	-14.45%
6QN	―	€268.18M	15.51	12.06%	―	―	―
9638	―	HK$8.35B	11.05	9.60%	3.77%	―	―
BELL	―	€19.20M	396.00		―	―	―