Moncler S.p.A. MONRY

Consumer DiscretionaryTextiles & ApparelItaly

Last close 48.02 USD on Nov 1, 2026, −23.1% year to date

Quant rating

Quant rating C Rank 195 of 297 in Consumer Discretionary

Growth D 213 of 297
Valuation C 168 of 297
Quality C 144 of 297
Revisions C 157 of 297
Momentum C 195 of 297

Wall Street consensus Buy (2.19)Average target 63.63 USD +32.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 13.3B
Enterprise value: 13.4B
52-week range: 46.72 – 71.41
3-year range: 46.72 – 76.69
Dividend yield: 3.39%
Beta (5 years): 0.82
Shares outstanding: 275M
Next earnings: Feb 18, 2027

About the company

Moncler SpA is an Italy-based company engaged in fashion industry. The Company designs, produces and distributes clothing and accessories through Moncler brand. Moncler SpA manufactures collections for women, men and children. The Company offers mainly sportswear, outerwear, knitwear and skiwear, including jackets, shoes, sweaters, trousers, bags, shirts, tops, gloves, hats and sunglasses, among others. Moncler SpA trades its products through approximately 122 stores, as well as through the wholesale distribution channel. Moncler SpA operates in approximately 66 countries, including Austria, France, Germany, Switzerland, Turkey, China, Hong Kong, Japan, Taiwan and the United States, among others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,679	3,219	3,293	2,786	2,326	–
Revenue growth	14.3%	−2.3%	18.2%	19.8%	32.2%	15.9%
EPS (basic, normalized)	2.72	2.47	2.46	2.38	1.65	–
EPS growth	10.1%	0.4%	3.4%	44.7%	–	–
Gross margin	78.1%	78.1%	77.1%	76.4%	76.6%	77.2%
Net margin	20.0%	20.6%	20.5%	23.3%	19.2%	20.7%
ROE	16.9%	18.8%	20.0%	22.5%	19.1%	19.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	3,679	+14.3%	3.6x	1,472	+20.7%	9.1x	2.72	+10.1%	17.7x
2026	3,603	−2.1%	3.7x	1,402	−4.8%	9.5x	2.60	−4.4%	18.5x
2027	3,857	+7.1%	3.5x	1,526	+8.9%	8.8x	2.83	+8.7%	17.0x
2028	4,128	+7.0%	3.2x	1,644	+7.7%	8.1x	3.08	+9.1%	15.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,603	−0.6%	−1.6%	−1.5%	2.60	−1.4%	−2.8%	−2.5%
2027	3,857	−0.5%	−2.0%	−2.0%	2.83	−0.9%	−3.1%	−2.9%
2028	4,128	−0.4%	−2.3%	−2.6%	3.08	−0.7%	−3.3%	−3.0%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	818	412	636	1,243	829	397	616	1,291	881	409
Sales mean (mil)	790	443	644	1,152	816	427	610	1,211	873	407
Surprise	+3.5%	−7.1%	−1.3%	+7.9%	+1.6%	−7.2%	+0.9%	+6.6%	+0.8%	+0.6%
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	0.62	0.36	0.43	0.90	0.60	0.35	0.42	0.87	0.84	−0.28
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Textiles & Apparel

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MONRY Moncler S.p.A.	13.3B	–	20.0%	3.22x	18.5x	17.0x	9.5x	8.8x
CJEWY Chow Tai Fook Jewellery Group Ltd	13.8B	–	9.5%	3.51x	112.3x	109.4x	8.2x	7.8x
PRDSY Prada S.p.A.	13.0B	–	14.9%	2.53x	30.0x	27.5x	7.4x	7.0x
LULU lululemon athletica inc.	11.9B	−0.51x	14.2%	2.61x	11.2x	12.6x	5.1x	5.6x
ONON On Holding AG	11.3B	−1.22x	6.8%	4.87x	19.6x	16.7x	12.3x	10.2x
SWGAY The Swatch Group AG	11.3B	–	0.0%	0.83x	–	–	–	–
Mean		−0.87x	10.9%	2.93x	38.3x	36.7x	8.5x	7.9x
Median		−0.87x	11.9%	2.91x	19.6x	17.0x	8.2x	7.8x

Technical analysis

1M−6.1%
3M−12.0%
1Y−19.1%
3Y+1.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Moncler S.p.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,679	3,219	3,293	2,786	2,326	1,759
Cost of revenue	806	706	754	658	545	428
Gross profit	2,873	2,512	2,539	2,127	1,781	1,331
Selling, general & administrative expenses	1,466	1,293	1,285	1,058	904	880
Research & development	–	–	–	–	–	–
Depreciation/amortization	326	262	268	240	219	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	8.8	7.8	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	1,073	949	986	829	658	450
Net interest income (expense)	−30.8	−6.7	−25.6	−29.1	−24.6	−28.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	1,042	942	961	800	634	422
Provision for taxes	306	280	286	150	187	55.1
Minority interest	0	0	0	0	0	0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	736	662	675	649	447	367
Extraordinary items	–	–	–	–	–	–
Net income	736	662	675	649	447	367
EBIT, normalized	1,082	956	986	829	658	450
EBITDA, normalized	1,477	1,274	1,308	1,112	1,097	696
Basic EPS, normalized	2.72	2.47	2.46	2.38	1.65	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Moncler S.p.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,716	1,385	1,189	956	1,061	1,134
Receivables	383	382	398	357	290	232
Total inventory	633	487	500	404	300	248
Prepaid expenses	35.7	21.5	17.6	17.3	13.8	12.6
Other current assets	18.9	4.8	0	0	0	0
Total current assets	2,787	2,279	2,105	1,735	1,664	1,626
Property, plant & equipment	1,760	1,295	1,195	1,150	1,038	981
Goodwill	709	625	666	646	686	190
Intangibles	1,302	1,146	1,210	1,163	1,216	345
Long-term investments	63.3	52.3	51.8	48.8	0.9	–
Note receivable	5.6	4.8	3.7	2.3	28.4	28.4
Other long-term assets	373	297	278	220	218	197
Total assets	6,999	5,699	5,509	4,965	4,852	3,367
Liabilities
Accounts payable	619	560	594	516	397	259
Payable/accrued	–	–	–	–	–	–
Accrued expenses	243	222	235	230	209	153
Short-term debt	15.3	18.5	16.8	25.1	24.8	58.2
Current portion of long-term debt	208	185	187	183	304	126
Other current liabilities	65.6	69.4	82.0	77.4	82.1	64.0
Total current liabilities	1,151	1,055	1,115	1,031	1,017	659
Long-term debt	1,102	788	733	769	710	687
Minority interest	0.1	0.1	0.1	0.1	0.1	0.1
Other liabilities	225	143	114	58.4	284	32.6
Total liabilities	2,478	1,986	1,962	1,859	2,011	1,380
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	64.6	56.9	60.6	58.6	62.2	63.1
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	4,560	3,705	3,537	3,060	2,790	1,945
Treasury stock	–	–	–	–	–	–
Other equity	−103	−49.0	−50.5	−12.9	−11.7	−20.9
Total equity	4,521	3,713	3,547	3,106	2,841	1,987
Total liabilities & shareholders' equity	6,999	5,699	5,509	4,965	4,852	3,367

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Moncler S.p.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	736	662	675	649	447	367
Depreciation, depletion & amortization	395	318	322	284	280	245
Deferred taxes	–	–	–	–	–	–
Non-cash items	376	335	355	219	243	121
Changes in working capital	−379	−291	−343	−443	12.7	−237
Cash from operations	1,128	1,024	1,010	709	984	496
Investing activities
Capital expenditures	−259	−202	−195	−182	−150	−113
Other investing cash flows	−93.9	−74.8	−73.1	2.9	−557	2.7
Cash from investing	−352	−277	−268	−179	−706	−110
Financing activities
Financing cash flow items	–	–	–	3.1	−0.8	–
Cash dividends paid	−415	−322	−335	−172	−137	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−292	−232	−248	−250	−254	−185
Cash from financing	−707	−554	−583	−419	−392	−185
Foreign exchange effects	−23.4	2.3	−30.5	−26.4	−22.2	−0.2
Net change in cash	45.0	196	129	85.1	−137	201
Free cash flow	870	822	815	527	834	383

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.