Zignago Vetro SpA (IT:ZV)
:ZV
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Zignago Vetro SpA
(ZV)
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Rating:57Neutral
Price Target:
€8.00
▲(1.78% Upside)
Action:Reiterated
Date:05/14/26
The score is primarily held back by weakened profitability and the TTM negative gross profit/margin, despite still-positive net income. Support comes from improving leverage and continued positive free cash flow, while technicals are only mildly positive and valuation (P/E ~24.5) is not clearly cheap even with a ~3.14% dividend yield.
Positive Factors
Improving leverage
Reducing debt-to-equity to roughly 0.61x signals a materially healthier capital structure versus prior years. This improvement increases financial flexibility for capital spending, cushions margins against cyclical shocks, and supports investment in furnace uptime or product customization over the medium term.
Negative Factors
Negative TTM gross margin
A negative TTM gross margin is a structural earnings concern: it implies production or input-cost mismatches that erode core unit economics. Sustained negative gross margins would impair the business's ability to cover fixed furnace costs and fund reinvestment without radical price or cost adjustments.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage
Reducing debt-to-equity to roughly 0.61x signals a materially healthier capital structure versus prior years. This improvement increases financial flexibility for capital spending, cushions margins against cyclical shocks, and supports investment in furnace uptime or product customization over the medium term.
Read all positive factors
Zignago Vetro SpA (ZV) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€630.20M
Dividend Yield5.87%
Average Volume (3M)123.06K
Price to Earnings (P/E)19.2
Beta (1Y)0.69
Revenue Growth-2.47%
EPS Growth-21.28%
CountryIT
Employees2,807
SectorGeneral
Sector StrengthN/A
IndustryPackaging & Containers
Share Statistics
EPS (TTM)0.37
Shares Outstanding89,320,000
10 Day Avg. Volume133,529
30 Day Avg. Volume123,055
Financial Highlights & Ratios
PEG Ratio-0.53
Price to Book (P/B)1.91
Price to Sales (P/S)1.54
P/FCF Ratio7.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€8.75Price Target Upside11.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.39
Revenue Forecast (FY)€610.70M
Zignago Vetro SpA Business Overview & Revenue Model
Company Description
Operating across Italy, Europe, and global markets, Zignago Vetro S.p.A. and its affiliates specialize in the creation, promotion, and distribution of glass packaging. They supply an extensive range of containers for the fragrance, food and drink,...
How the Company Makes Money
Zignago Vetro makes money by manufacturing and selling hollow glass containers to customers that need primary packaging (e.g., food and beverage producers, wineries, spirits producers, and other consumer-goods companies that package products in gl...
Zignago Vetro SpA Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
66
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 438.13M | 444.84M | 454.52M | 519.97M | 468.85M | 362.44M |
| Gross Profit | -49.92M | 186.85M | 176.62M | 242.09M | 176.43M | 165.90M |
| EBITDA | 81.26M | 74.84M | 116.61M | 205.56M | 107.81M | 94.95M |
| Net Income | 32.42M | 27.32M | 51.87M | 122.39M | 86.60M | 60.02M |
Balance Sheet | ||||||
| Total Assets | 717.40M | 734.85M | 755.49M | 809.20M | 801.48M | 689.45M |
| Cash, Cash Equivalents and Short-Term Investments | 66.15M | 82.91M | 48.61M | 74.78M | 102.83M | 117.54M |
| Total Debt | 222.99M | 246.75M | 254.41M | 268.81M | 336.79M | 310.46M |
| Total Liabilities | 352.71M | 375.37M | 384.81M | 419.78M | 483.00M | 427.93M |
| Stockholders Equity | 364.45M | 359.15M | 370.29M | 388.71M | 317.95M | 261.30M |
Cash Flow | ||||||
| Free Cash Flow | 77.15M | 85.72M | 64.90M | 112.50M | -3.70M | 28.78M |
| Operating Cash Flow | 118.55M | 118.36M | 109.28M | 150.15M | 64.09M | 103.23M |
| Investing Cash Flow | -39.59M | -31.91M | -47.42M | -46.02M | -70.67M | -64.11M |
| Financing Cash Flow | -54.26M | -50.34M | -83.44M | -130.06M | -19.07M | 28.19M |
Zignago Vetro SpA Technical Analysis
Negative
7.86
Price Trends
7.10
Negative
7.10
Negative
7.26
Negative
Market Momentum
0.02
Positive
42.60
Neutral
4.45
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ZV, the sentiment is Negative. The current price of 7.86 is above the 20-day moving average (MA) of 7.26, above the 50-day MA of 7.10, and above the 200-day MA of 7.26, indicating a bearish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.60 is Neutral, neither overbought nor oversold. The STOCH value of 4.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:ZV.
Zignago Vetro SpA Peers Comparison
UnderperformOutperform
Sector (55)
IT:ZV
Zignago Vetro SpA
7.08
-1.05
-12.86%
IT:SFL
Safilo Group SpA
1.71
0.85
98.15%
Zignago Vetro SpA Corporate Events
Zignago Vetro Publishes First-Quarter 2026 Interim Report
May 12, 2026
Zignago Vetro SpA has approved its interim report for the quarter ended March 31, 2026, with the Board of Directors giving its clearance on May 6, 2026. The company has made the document publicly available at its registered office and on its corpo...
Zignago Vetro Publishes Minutes of Ordinary Shareholders’ Meeting
May 8, 2026
Zignago Vetro SpA announced that the minutes of its Ordinary Shareholders’ Meeting, held on second call on May 6, 2026, have been made available to the public. The documentation can be consulted at the company’s registered office, on i...
Zignago Vetro Sets May 2026 Dividend Payment at €0.22 Per Share
May 6, 2026
Zignago Vetro S.p.A. has announced that, following the shareholders’ meeting held on May 6, 2026, it will distribute a dividend of €0.22 per share starting May 13, 2026, with the ex-dividend date set for May 11 and the record date for ...
Zignago Vetro Approves 2025 Accounts, Dividend and New Buyback Plan
May 6, 2026
Zignago Vetro’s shareholders approved the 2025 statutory financial statements and cleared a dividend of €0.22 per share, amounting to €19.4 million and representing about 71.1% of consolidated profit, with payment scheduled for 1...
Zignago Vetro Lifts Q1 Profitability Despite Revenue Dip and Soft Demand
May 6, 2026
Zignago Vetro reported first-quarter 2026 revenues of €146.8 million, down 5.5% year-on-year, but significantly improved profitability, with EBITDA up 27.8% and EBIT more than doubling as the group prioritized margins over volume in a weaker...
Zignago Vetro Sets Ordinary Shareholders’ Meeting on Second Call for 6 May 2026
Apr 24, 2026
Zignago Vetro S.p.A. has informed shareholders that its upcoming Ordinary Shareholders’ Meeting, originally scheduled on first call for 28 April 2026, is expected to convene instead on second call. The meeting will therefore be held on 6 May...
Zignago Vetro Publishes 2025 Annual Report and Governance Disclosures
Mar 30, 2026
Zignago Vetro S.p.A. has published its Annual Financial Report for the year ended 31 December 2025, making available the draft standalone and consolidated financial statements, the management report, corporate governance and ownership report, and ...
Zignago Vetro Publishes Documentation for April 2026 Shareholders’ Meeting
Mar 27, 2026
Zignago Vetro S.p.A. has made available the Board of Directors’ reports for its upcoming Ordinary and Extraordinary Shareholders’ Meeting, scheduled on first call for April 28, 2026 and, if necessary, on second call for May 6, 2026. Th...
Zignago Vetro Reports Insider-Related Purchase of 13,100 Shares by Director-Linked Entity
Mar 20, 2026
Zignago Vetro disclosed a transaction involving Lumar SRL, a company closely associated with board member Luca Marzotto, which purchased 13,100 ordinary shares of Zignago Vetro. The shares were acquired on the MTAA market at a price of €6.59...
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.