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Moncler (MONRY)
OTHER OTC:MONRY
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Moncler
(OTC:MONRY)
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Rating:78Outperform
Price Target:
$69.00
▲(11.43% Upside)
Action:ReiteratedDate:10/16/25
Moncler's strong financial performance is the most significant factor driving its stock score, supported by positive technical indicators. The high P/E ratio suggests a premium valuation, balanced by a reasonable dividend yield.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective sales strategies, enhancing Moncler's competitive position in the luxury apparel sector.
Profitability Margins
High profitability margins reflect Moncler's ability to maintain premium pricing and cost efficiency, supporting long-term financial health and shareholder value.
Cash Flow Management
Strong cash flow management ensures Moncler can fund growth initiatives, invest in innovation, and navigate economic fluctuations, securing its market leadership.
Negative Factors
EPS Growth Decline
A decline in EPS growth may indicate challenges in maintaining profit expansion, potentially affecting investor confidence and future investment capacity.
High Valuation Concerns
A high valuation may limit upside potential and increase vulnerability to market corrections, challenging Moncler's attractiveness to value-focused investors.
Earnings Call Data Absence
Lack of recent earnings call data limits transparency and insight into management's strategic direction, potentially affecting stakeholder trust and decision-making.
Moncler (MONRY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.45B
Dividend Yield2.22%
Average Volume (3M)614.00
Price to Earnings (P/E)26.4
Beta (1Y)0.84
Revenue Growth1.33%
EPS Growth-5.30%
CountryUS
Employees7,354
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)1.14
Shares Outstanding274,805,970
10 Day Avg. Volume1,201
30 Day Avg. Volume614
Financial Highlights & Ratios
PEG Ratio5.46
Price to Book (P/B)3.86
Price to Sales (P/S)4.46
P/FCF Ratio16.64
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue5.15
Enterprise Value/Gross Profit6.60
Enterprise Value/Ebitda15.94
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.77
Revenue Forecast (FY)$3.78B
Moncler Business Overview & Revenue Model
Company DescriptionMoncler S.p.A., together with its subsidiaries, designs, produces, and distributes clothing and related accessories for men, women, and children under the Moncler and Stone Island brand names. Its product portfolio includes footwear products; leather goods, such as bags, backpacks, and accessories; and sunglasses, eyeglasses, frames, and men's and women's ski goggles under the Moncler Lunettes brand. The company also offers perfume for men and women. As of December 31, 2021, it operated 237 retail directly operated stores and 64 wholesale shop-in-shops. The company also sells its products through moncler.com, an online store. It serves in Italy, other European countries, Japan, the rest of Asia, and the Americas. The company was formerly known as Moncler S.r.l. and changed its name to Moncler S.p.A. in October 2013. Moncler S.p.A. was founded in 1952 and is headquartered in Milan, Italy.
How the Company Makes MoneyMoncler generates revenue primarily through the sale of its high-end apparel and accessories. The company's revenue model is centered around direct-to-consumer sales through its own retail stores and e-commerce platforms, as well as wholesale distribution to select luxury department stores and boutiques worldwide. Key revenue streams include seasonal collections, limited edition collaborations, and exclusive products that drive consumer demand. Additionally, Moncler has established strategic partnerships and collaborations with other luxury brands and designers, enhancing its market presence and brand appeal. The company also benefits from strong brand loyalty and a growing global market for luxury goods, positioning it well to capitalize on trends in the fashion industry.
Moncler Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented a solid operational and financial performance with clear positive momentum: FY revenues of EUR 3.13bn, strong Q4 acceleration (Moncler DTC +7%, Stone Island +16% overall), a robust EBIT margin (29.2%), and a strong net cash position (≈EUR 1.5bn). Brand-building initiatives (Warmer Together, Grenoble, high-profile collaborations) and Stone Island’s clear recovery were emphasized as durable drivers. Offsetting items include a modest EBIT margin dip versus prior year, higher financial expenses, increased inventory/net working capital from strategic down purchases, a ~EUR 58m reduction in free cash flow versus the prior year, and anticipated FX headwinds for 2026 (≈-4% top-line impact, Q1 ≈-6 p.p.). Management expects to mitigate FX via low-single-digit pricing (≈3%) and to maintain marketing at ~7% of sales. Overall, positive operational momentum and financial strength outweigh near-term headwinds and one-off investments.Q4-2025 Updates
Positive Updates
Full-Year Revenue and Scale
Moncler Group delivered EUR 3.13 billion of revenues for FY2025, demonstrating resilience in a difficult environment.
Quarterly Acceleration and DTC Strength
Q4 acceleration: Moncler DTC up 7% (Moncler Q4 +6% overall) and Stone Island DTC up 16%, reflecting strong direct-to-consumer momentum into year-end and continuing into early Q1.
Stone Island Outstanding Q4 Performance
Stone Island grew +16% in Q4 with regional strength: Americas +26%, Europe +12%, Asia +22%. Wholesale +17% and DTC +16% in Q4, signaling broad-based recovery and retail KPI improvement.
High Profitability and Net Cash Position
Reported EBIT margin of 29.2% (only slightly below prior year 29.5%) and a strong net cash position of approximately EUR 1.5 billion (up from EUR 1.3 billion the prior year, ~+15%).
Dividend Policy and Capital Allocation
Board is expected to propose a dividend of EUR 1.4 per share with a payout ratio of over 60%, underscoring capital returns alongside reinvestment.
Successful Marketing Campaigns and Brand Moments
Major creative wins: 'Warmer Together' labeled the largest campaign in Moncler history, record Grenoble campaign, Winter Olympics sponsorship (Brazil), high-profile collaborations (Jil Sander, JW Anderson reissue, ASAP Rocky) and strong event presence (Aspen).
Strategic Investments and Organizational Strengthening
CapEx at 6.9% of revenues to support HQ, distribution and a flagship New York Fifth Avenue store (plan to normalize to ~6% in 2026). Leadership evolution with Leo Rongone joining as Group CEO (April) while Remo Ruffini becomes Executive Chairman to keep creative/strategic leadership.
Sustainability and Digital Initiatives
Sustainability efforts were highly ranked globally; digital improvements include a refreshed .com and AI partnership (Google/Veo) to enhance omnichannel recommendations and product education.
Negative Updates
Slight Margin Pressure and Financial Expense Increase
EBIT margin edged down to 29.2% from 29.5% a year earlier. Financial expenses rose from EUR 6.5 million to EUR 26.2 million (driven by higher interest on lease liabilities and lower interest income), weighing on below-EBIT line results.
Free Cash Flow Decline
Free cash flow decreased to EUR 529 million from EUR 587 million year-over-year (≈-10%), impacted by FX translation (~EUR 20 million), higher net working capital and increased CapEx.
Higher Inventory / Net Working Capital
Net working capital rose to 9.7% from 8.2% of revenues (higher inventory), primarily due to a strategic decision to purchase more down raw material amid market volatility, increasing working capital intensity.
FX Headwinds Expected for 2026
Management expects a negative FX impact on 2026 top line of about 4% (with Q1 impact nearer 6 percentage points); they expect pricing actions to largely offset margin impact but FX remains a near-term headwind.
Wholesale and Tourism Weakness in Some Markets
Moncler wholesale showed modest reorders (+2% in Q4) and the European performance was negatively impacted by softer tourism (notably American, Korean and Japanese travelers), constraining local growth in some city-center locations.
Higher CapEx and Short-Term Cash Drag
CapEx increased to 6.9% of revenues (from 6.0% prior year) to support HQ and flagship projects, contributing to temporarily lower free cash flow; guidance is to return to ~6% in 2026.
E-commerce / Channel Variability
E-commerce underperformed relative to physical DTC in parts of EMEA during Q4; while digital investments and AI initiatives are in place, channel performance is mixed across regions.
Company Guidance
Management's guidance: after FY25 results (revenues EUR 3.13bn; EBIT margin 29.2%; net cash ~EUR 1.5bn; free cash flow EUR 529m), they expect a c.‑4% FX headwind to 2026 revenue (about ‑6% in Q1) but plan low‑single‑digit price increases (~3% for both Moncler and Stone Island) and will keep marketing at ~7% of sales; CapEx is expected to normalize to ~6% of revenues (vs 6.9% in 2025), net working capital was 9.7% (vs 8.2%) elevated by strategic down purchases, the Board will propose a EUR 1.4/share dividend (payout >60%), Moncler wholesale is expected to be flattish while Stone Island wholesale should improve, store openings will be similar to 2025 (with a mid‑single‑digit sales uplift from new space), and management expects pricing actions to largely offset FX so margin impact should be negligible with gross margin remaining around the current >78% (theoretical max ~80% if 100% DTC).Moncler Financial Statement Overview
Summary
Moncler exhibits strong financial health with robust revenue growth, high profitability margins, a stable balance sheet, and efficient cash flow management. The company is well-positioned within the luxury apparel industry.Income Statement
Moncler has shown robust revenue growth with a 4.17% increase in 2024 and a solid gross profit margin of 78.04%. The company's net profit margin stands at 20.57%, indicating strong profitability. The EBIT margin of 29.47% and EBITDA margin of 40.22% further highlight operational efficiency. Overall, Moncler showcases impressive growth and profitability in the luxury apparel sector.88
Very Positive
Balance Sheet
The company's balance sheet is strong, with a healthy debt-to-equity ratio of 0.27, suggesting low leverage. Return on equity (ROE) is 17.83%, reflecting efficient use of equity to generate profits. The equity ratio is 65.14%, indicating a solid asset base financed by equity. Moncler's balance sheet reflects financial stability and prudent capital management.85
Very Positive
Cash Flow
Moncler's cash flow is robust, with a free cash flow growth rate of 7.56% in 2024, showing strong cash generation. The operating cash flow to net income ratio is 1.55, and the free cash flow to net income ratio is 1.24, indicating efficient cash flow management. The company's cash flow position supports its growth and operational strategies.90
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.10B | 3.11B | 2.98B | 2.60B | 2.05B | 1.44B |
| Gross Profit | 2.43B | 2.43B | 2.30B | 1.76B | 1.37B | 913.93M |
| EBITDA | 1.00B | 1.25B | 1.19B | 1.04B | 827.47M | 569.52M |
| Net Income | 612.32M | 639.60M | 611.93M | 606.70M | 393.53M | 300.35M |
Balance Sheet | ||||||
| Total Assets | 5.12B | 5.50B | 4.99B | 4.64B | 4.27B | 2.76B |
| Cash, Cash Equivalents and Short-Term Investments | 959.79M | 1.26B | 998.80M | 882.25M | 932.72M | 923.50M |
| Total Debt | 958.99M | 957.31M | 848.59M | 912.78M | 913.92M | 713.27M |
| Total Liabilities | 1.73B | 1.92B | 1.78B | 1.74B | 1.77B | 1.13B |
| Stockholders Equity | 3.39B | 3.59B | 3.21B | 2.90B | 2.50B | 1.63B |
Cash Flow | ||||||
| Free Cash Flow | 705.45M | 832.37M | 738.44M | 492.72M | 733.49M | 313.89M |
| Operating Cash Flow | 918.42M | 1.02B | 914.87M | 662.58M | 865.31M | 406.45M |
| Investing Cash Flow | -212.34M | -267.43M | -174.07M | -167.10M | -621.41M | -90.37M |
| Financing Cash Flow | -603.61M | -535.17M | -596.63M | -391.25M | -345.18M | -151.54M |
Moncler Technical Analysis
Positive
61.92
Price Trends
62.14
Positive
62.73
Positive
60.59
Positive
Market Momentum
1.92
Negative
74.26
Negative
96.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MONRY, the sentiment is Positive. The current price of 61.92 is above the 20-day moving average (MA) of 61.11, below the 50-day MA of 62.14, and above the 200-day MA of 60.59, indicating a bullish trend. The MACD of 1.92 indicates Negative momentum. The RSI at 74.26 is Negative, neither overbought nor oversold. The STOCH value of 96.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MONRY.
Moncler Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $18.45B | 26.36 | 18.21% | 2.22% | 1.33% | -5.30% | |
69 Neutral | $22.66B | 25.47 | 33.85% | 0.93% | 12.32% | 29.40% | |
68 Neutral | $4.54B | 27.15 | 10.58% | 1.33% | -1.88% | -5.94% | |
64 Neutral | $3.16B | 10.36 | 6.70% | 0.22% | 0.52% | -45.80% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $8.63B | 20.11 | 23.63% | 2.58% | -1.23% | 109.67% | |
53 Neutral | $7.74B | 35.87 | 12.93% | 1.95% | -3.12% | ― |
* Consumer Cyclical Sector Average
MONRY
Moncler
69.09
1.94
2.89%
PVH
PVH
70.12
-4.62
-6.18%
RL
Ralph Lauren
378.85
111.50
41.71%
VFC
VF
19.68
-4.36
-18.14%
LEVI
Levi Strauss & Co
22.56
5.56
32.69%
ZGN
Ermenegildo Zegna
11.60
3.13
36.95%
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.