Moncler (MONRY)
OTHER OTC:MONRY
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Moncler
(OTC:MONRY)
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Rating:70Outperform
Price Target:
$70.00
▲(13.05% Upside)
Action:ReiteratedDate:03/28/26
The score is driven primarily by solid fundamentals (high margins, positive free cash flow, moderate leverage) and attractive valuation (low P/E with a meaningful dividend). This is partially offset by weak technical momentum (below key moving averages with negative MACD) and earnings-call headwinds for 2026 (FX pressure and elevated working capital), despite management’s plan to mitigate FX via pricing.
Positive Factors
High profitability and margins
Moncler’s sustained industry-leading gross and EBIT margins indicate durable pricing power from premium branding and a favorable channel mix. High margins support reinvestment in stores and marketing, fund shareholder returns, and provide resilience through demand cycles over the next 2–6 months.
Negative Factors
Material FX exposure
Meaningful currency translation risk can erode reported top-line and momentum despite planned price increases. If FX persists, organic growth targets and reported margins could be compressed, forcing tougher pricing or mix tradeoffs that affect earnings conversion over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Moncler’s sustained industry-leading gross and EBIT margins indicate durable pricing power from premium branding and a favorable channel mix. High margins support reinvestment in stores and marketing, fund shareholder returns, and provide resilience through demand cycles over the next 2–6 months.
Read all positive factors
Moncler (MONRY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.20B
Dividend Yield2.22%
Average Volume (3M)614.00
Price to Earnings (P/E)24.9
Beta (1Y)0.91
Revenue Growth1.33%
EPS Growth-5.30%
CountryUS
Employees7,354
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)1.11
Shares Outstanding274,805,970
10 Day Avg. Volume1,201
30 Day Avg. Volume614
Financial Highlights & Ratios
PEG Ratio-3.46
Price to Book (P/B)3.90
Price to Sales (P/S)4.99
P/FCF Ratio21.10
Enterprise Value/Market Cap0.85
Enterprise Value/Revenue4.71
Enterprise Value/Gross Profit6.03
Enterprise Value/Ebitda15.46
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.74
Revenue Forecast (FY)$3.75B
Moncler Business Overview & Revenue Model
Company Description
Moncler 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; leat...
How the Company Makes Money
Moncler makes money primarily by designing, sourcing/producing, marketing, and selling luxury apparel and accessories under its brands (Moncler and Stone Island). Revenue is generated through: (1) Direct-to-consumer (DTC) sales: The company sells ...
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.Positive Updates
Full-Year Revenue and Scale
Moncler Group delivered EUR 3.13 billion of revenues for FY2025, demonstrating resilience in a difficult environment.
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.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Scale
Moncler Group delivered EUR 3.13 billion of revenues for FY2025, demonstrating resilience in a difficult environment.
Read all positive updates
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
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
76
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.01B | 3.11B | 2.98B | 2.60B | 2.05B |
| Gross Profit | 2.35B | 2.43B | 2.30B | 1.76B | 1.37B |
| EBITDA | 877.31M | 1.25B | 1.19B | 1.04B | 827.47M |
| Net Income | 601.94M | 639.60M | 611.93M | 606.70M | 393.53M |
Balance Sheet | |||||
| Total Assets | 5.96B | 5.50B | 4.99B | 4.64B | 4.27B |
| Cash, Cash Equivalents and Short-Term Investments | 1.23B | 1.26B | 998.80M | 882.25M | 932.72M |
| Total Debt | 1.13B | 957.31M | 848.59M | 912.78M | 913.92M |
| Total Liabilities | 2.11B | 1.92B | 1.78B | 1.74B | 1.77B |
| Stockholders Equity | 3.85B | 3.59B | 3.21B | 2.90B | 2.50B |
Cash Flow | |||||
| Free Cash Flow | 711.18M | 832.37M | 738.44M | 492.72M | 733.49M |
| Operating Cash Flow | 922.61M | 1.02B | 914.87M | 662.58M | 865.31M |
| Investing Cash Flow | -288.20M | -267.43M | -174.07M | -167.10M | -621.41M |
| Financing Cash Flow | -578.49M | -535.17M | -596.63M | -391.25M | -345.18M |
Moncler Technical Analysis
Positive
61.92
Price Trends
61.41
Positive
62.78
Positive
60.61
Positive
Market Momentum
0.15
Negative
58.12
Neutral
98.21
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 60.59, above the 50-day MA of 61.41, and above the 200-day MA of 60.61, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 58.12 is Neutral, neither overbought nor oversold. The STOCH value of 98.21 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $8.75B | 11.94 | 28.33% | 2.58% | -1.23% | 109.67% | |
70 Outperform | $17.20B | 24.93 | 17.31% | 2.22% | 1.33% | -5.30% | |
69 Neutral | $23.00B | 15.13 | 34.74% | 0.93% | 12.32% | 29.40% | |
62 Neutral | $4.87B | 23.92 | 10.25% | 1.33% | -1.88% | -5.94% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $4.16B | 117.41 | 0.53% | 0.22% | 0.52% | -45.80% | |
53 Neutral | $7.13B | 6.01 | 14.79% | 1.95% | -3.12% | ― |
* Consumer Cyclical Sector Average
MONRY
Moncler
63.78
2.52
4.11%
PVH
PVH
90.74
20.58
29.34%
RL
Ralph Lauren
379.87
180.45
90.49%
VFC
VF
18.23
7.22
65.53%
LEVI
Levi Strauss & Co
22.75
8.21
56.44%
ZGN
Ermenegildo Zegna
11.51
4.77
70.77%
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.