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Zignago Vetro SpA
(ZV)
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Rating:62Neutral
Price Target:
€8.00
▲(13.80% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by mixed financial performance: strong recent revenue growth and improved leverage are offset by major margin concerns (negative TTM gross margin) and weaker free-cash-flow trend and conversion. Technicals are mildly supportive with price above key moving averages, while valuation is neutral-to-slightly supportive given a mid-range P/E and ~3% dividend yield.
Positive Factors
Top-line Growth
52.8% TTM revenue growth reflects materially stronger demand or pricing in core glass-container markets. Sustained top-line expansion improves capacity utilization and supports scaling benefits, helping stabilize margins and provide recurring cash generation over the medium term.
Negative Factors
Negative Gross Margin
A negative TTM gross margin signals severe cost-of-sales pressure or large non-recurring charges that erode core unit economics. If persistent, this undermines pricing power and operating leverage, making it difficult to convert revenue growth into sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line Growth
52.8% TTM revenue growth reflects materially stronger demand or pricing in core glass-container markets. Sustained top-line expansion improves capacity utilization and supports scaling benefits, helping stabilize margins and provide recurring cash generation over the medium term.
Read all positive factors
Zignago Vetro SpA (ZV) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€662.24M
Dividend Yield2.96%
Average Volume (3M)123.06K
Price to Earnings (P/E)19.0
Beta (1Y)0.67
Revenue Growth0.22%
EPS Growth1.46%
CountryIT
Employees2,778
SectorGeneral
Sector StrengthN/A
IndustryPackaging & Containers
Share Statistics
EPS (TTM)0.39
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 Upside24.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.38
Revenue Forecast (FY)€604.74M
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
ZV makes money mainly by manufacturing and selling glass containers (e.g., bottles and jars) to business customers that need packaging for their products. Revenue is generated through B2B supply contracts and purchase orders where customers pay pe...
Zignago Vetro SpA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 440.44M | 444.84M | 454.52M | 519.97M | 468.85M | 362.44M |
| Gross Profit | -34.61M | 186.85M | 176.62M | 242.09M | 176.43M | 165.90M |
| EBITDA | 79.65M | 74.84M | 116.61M | 205.56M | 107.81M | 94.95M |
| Net Income | 34.89M | 27.32M | 51.87M | 122.39M | 86.60M | 60.02M |
Balance Sheet | ||||||
| Total Assets | 734.89M | 734.85M | 755.49M | 809.20M | 801.48M | 689.45M |
| Cash, Cash Equivalents and Short-Term Investments | 74.55M | 82.91M | 48.61M | 74.78M | 102.83M | 117.54M |
| Total Debt | 238.31M | 246.75M | 254.41M | 268.81M | 336.79M | 310.46M |
| Total Liabilities | 377.12M | 375.37M | 384.81M | 419.78M | 483.00M | 427.93M |
| Stockholders Equity | 357.54M | 359.15M | 370.29M | 388.71M | 317.95M | 261.30M |
Cash Flow | ||||||
| Free Cash Flow | 46.67M | 85.72M | 64.90M | 112.50M | -3.70M | 28.78M |
| Operating Cash Flow | 95.74M | 118.36M | 109.28M | 150.15M | 64.09M | 103.23M |
| Investing Cash Flow | -47.79M | -31.91M | -47.42M | -46.02M | -70.67M | -64.11M |
| Financing Cash Flow | -54.47M | -50.34M | -83.44M | -130.06M | -19.07M | 28.19M |
Zignago Vetro SpA Technical Analysis
Positive
7.03
Price Trends
7.26
Positive
7.06
Positive
7.20
Positive
Market Momentum
0.03
Negative
51.07
Neutral
41.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ZV, the sentiment is Positive. The current price of 7.03 is below the 20-day moving average (MA) of 7.28, below the 50-day MA of 7.26, and below the 200-day MA of 7.20, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 51.07 is Neutral, neither overbought nor oversold. The STOCH value of 41.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ZV.
Zignago Vetro SpA Peers Comparison
UnderperformOutperform
Sector (55)
IT:ZV
Zignago Vetro SpA
7.30
-0.55
-7.04%
IT:SFL
Safilo Group SpA
1.85
0.58
46.13%
Zignago Vetro SpA Corporate Events
Zignago Vetro Delivers Margin Surge and Debt Reduction in H1 2026
Jul 30, 2026
Zignago Vetro reported first-half 2026 revenues of EUR 303.9 million, down 1.5 percent year on year, but achieved strong margin expansion as EBITDA rose 14.3 percent and EBIT jumped 52 percent. Net profit nearly doubled to EUR 16.4 million, while ...
Zignago Vetro Joins New SME Index Backed by Banca Generali ETF
Jul 2, 2026
Zignago Vetro S.p.A., a listed Italian producer of glass packaging for sectors such as food, beverages, and cosmetics, operates as a small to mid-sized industrial player focused on quality manufacturing and strong ties to the real economy. Its pre...
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...
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.