Safilo Group SpA SAFLY

Consumer DiscretionaryTextiles & ApparelItaly

Last close 4.75 USD on Nov 1, 2026, +18.7% year to date

Quant rating

Quant rating C Rank 124 of 297 in Consumer Discretionary

Growth D 241 of 297
Valuation C 175 of 297
Quality C 203 of 297
Revisions B 49 of 297
Momentum B 68 of 297

Wall Street consensus Hold (2.67)Average target 2.43 USD −48.9%

Historical valuation

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

Key data

Market cap: 916M
Enterprise value: 922M
52-week range: 3.71 – 4.75
3-year range: 2.20 – 4.75
Dividend yield: –
Beta (5 years): –
Shares outstanding: 416M
Next earnings: Nov 10, 2026

About the company

Safilo Group SpA is an Italy-based holding company of the Safilo Group (the Group). The Group manufactures sunglasses and prescription eyewear and is engaged in the design, production, wholesale and retail distribution of products for the eyewear market. The Group operates a number of brands grouped into own brands and licensed brands. The Group's own brands consists of house brand collections of optical frames, sunglasses, technical glasses, ski goggles and helmets and includes the Safilo, Carrera, Polaroid, Smith Optics and Oxydo brands. The licensed brands portfolio includes Alexander McQueen, Banana Republic, BOSS, BOSS Orange, Bottega Veneta, Celine, Dior, Fossil, Gucci, HUGO, J.Lo by Jennifer Lopez, Jimmy Choo, Juicy Couture, Kate Spade, Liz Claiborne, Marc Jacobs, Marc by Marc Jacobs, Max Mara, Max&Co, Pierre Cardin, Saint Laurent, Saks Fifth Avenue and Tommy Hilfiger. It operates through 30 owned subsidiaries in America, Europe and Asia and through a network of distributors.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,155	1,028	1,131	1,152	1,102	–
Revenue growth	12.3%	−9.1%	−1.9%	4.5%	15.7%	3.9%
EPS (basic, normalized)	0.12	0.09	0.03	0.15	0.11	–
EPS growth	34.6%	177.6%	−78.0%	32.9%	–	–
Gross margin	60.9%	59.7%	57.2%	55.5%	51.8%	57.0%
Net margin	4.9%	2.2%	−2.4%	5.0%	2.2%	2.4%
ROE	12.1%	5.6%	−6.2%	14.7%	9.1%	7.0%

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	1,155	+12.3%	0.8x	120	+23.5%	7.7x	0.12	+34.6%	38.9x
2026	1,114	−3.6%	0.8x	131	+8.9%	7.1x	0.15	+24.5%	31.3x
2027	1,149	+3.2%	0.8x	134	+2.9%	6.9x	0.16	+5.0%	29.8x
2028	1,185	+3.1%	0.8x	143	+6.6%	6.4x	0.18	+10.7%	26.9x

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	1,114	0.0%	+0.1%	−0.9%	0.15	0.0%	+21.2%	+37.9%
2027	1,149	−0.1%	+0.4%	+0.7%	0.16	0.0%	+6.3%	+5.0%
2028	1,185	−0.1%	+0.3%	+0.4%	0.18	0.0%	+5.7%	+5.1%

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)	277	255	225	236	286	252	221	225	273	239
Sales mean (mil)	278	258	228	238	281	251	220	225	272	240
Surprise	−0.1%	−1.1%	−1.3%	−0.7%	+1.6%	+0.3%	+0.4%	0.0%	+0.5%	−0.2%
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
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
SAFLY Safilo Group SpA	916M	–	4.9%	1.62x	31.3x	29.8x	7.1x	6.9x
XTEPY Xtep International Holdings Ltd	1.3B	–	9.7%	0.75x	755.4x	661.2x	3.6x	3.2x
WACLY WACOAL HOLDINGS CORP.	1.2B	–	7.7%	0.88x	–	–	–	–
SFRGY Salvatore Ferragamo S.p.A.	1.2B	–	−5.1%	1.77x	83.2x	21.2x	8.3x	7.3x
DRMTY Dr. Martens plc	849M	–	3.1%	1.74x	25.7x	21.1x	5.3x	4.9x
OKASY Onward Holdings Co Ltd	691M	–	4.3%	1.09x	–	–	–	–
Mean		–	4.1%	1.31x	223.9x	183.3x	6.1x	5.6x
Median		–	4.6%	1.35x	57.2x	25.5x	6.2x	5.9x

Technical analysis

1M0.0%
3M+26.3%
1Y+40.1%
3Y+221.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Safilo Group SpA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,155	1,028	1,131	1,152	1,102	953
Cost of revenue	451	415	484	513	532	510
Gross profit	704	614	646	639	570	443
Selling, general & administrative expenses	477	422	464	432	395	365
Research & development	–	–	–	–	–	–
Depreciation/amortization	34.4	32.1	44.4	37.1	39.4	44.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−11.4	0.2	−0.6	4.4	−4.5	21.7
Other operating expenses	123	118	130	114	111	114
Operating income	80.8	40.8	8.5	51.9	29.6	−102
Net interest income (expense)	3.2	−2.5	−23.2	14.2	9.0	−7.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−5.4	−5.4	−6.7	2.6	1.0	1.8
Net income before taxes	78.6	32.8	−21.5	68.6	39.6	−107
Provision for taxes	22.0	10.2	7.3	12.6	16.8	−17.6
Minority interest	0.5	0.5	1.6	1.9	1.4	0.3
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	57.1	23.1	−27.2	58.0	24.2	−89.1
Extraordinary items	–	–	–	–	–	–
Net income	57.1	23.1	−27.2	58.0	24.2	−89.1
EBIT, normalized	78.1	54.6	54.0	61.6	52.2	−49.0
EBITDA, normalized	122	96.5	115	113	113	23.5
Basic EPS, normalized	0.12	0.09	0.03	0.15	0.11	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Safilo Group SpA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	61.2	49.1	82.7	83.2	113	109
Receivables	237	245	254	258	232	252
Total inventory	201	218	253	277	267	241
Prepaid expenses	15.1	9.7	7.1	10.1	13.6	13.2
Other current assets	11.7	6.8	8.0	9.9	13.7	14.0
Total current assets	527	529	604	638	639	629
Property, plant & equipment	132	128	135	158	173	205
Goodwill	36.4	37.1	37.2	37.3	37.4	37.0
Intangibles	136	140	119	142	161	177
Long-term investments	24.8	0.3	–	–	–	–
Note receivable	0.4	0.2	7.2	6.9	8.4	7.0
Other long-term assets	36.0	37.6	40.6	44.5	47.1	56.6
Total assets	891	872	944	1,028	1,066	1,111
Liabilities
Accounts payable	170	171	190	193	219	222
Payable/accrued	–	–	–	–	–	–
Accrued expenses	68.6	54.6	50.6	56.8	69.0	54.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	47.7	41.9	44.0	41.8	32.1	39.8
Other current liabilities	22.2	19.7	34.5	42.5	32.5	78.7
Total current liabilities	308	287	319	334	353	395
Long-term debt	67.7	92.8	130	163	187	340
Minority interest	12.4	14.9	18.3	31.0	44.7	47.7
Other liabilities	42.0	49.5	58.4	60.7	110	154
Total liabilities	430	444	526	589	695	936
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	452	398	425	412	437	427
Additional paid-in capital	33.3	28.7	30.2	741	787	726
Retained earnings (accumulated deficit)	−24.5	0.5	−36.8	−715	−853	−978
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0.3	0.8	0	0
Total equity	461	428	418	439	371	175
Total liabilities & shareholders' equity	891	872	944	1,028	1,066	1,111

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Safilo Group SpA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	56.6	22.6	−28.8	56.0	22.8	−89.5
Depreciation, depletion & amortization	44.2	41.9	60.9	51.8	60.5	72.5
Deferred taxes	–	–	–	–	–	–
Non-cash items	3.2	23.4	8.5	11.2	5.8	−6.3
Changes in working capital	1.4	−8.9	12.0	−109	−69.4	19.4
Cash from operations	105	78.9	52.7	9.8	19.7	−3.8
Investing activities
Capital expenditures	−12.8	−50.4	−14.6	−17.0	−22.7	−24.8
Other investing cash flows	−14.8	−0.2	5.0	0.2	11.6	−133
Cash from investing	−27.7	−50.6	−9.5	−16.8	−11.1	−158
Financing activities
Financing cash flow items	–	0	–	–	0	–
Cash dividends paid	−0.3	−0.8	−0.6	−0.9	−1.3	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−68.5	−56.0	−44.1	−17.1	3.6	206
Cash from financing	−68.8	−56.8	−44.7	−18.0	2.4	206
Foreign exchange effects	−3.3	–	−1.6	2.2	3.9	−5.5
Net change in cash	5.5	−28.5	−3.1	−22.8	14.8	39.1
Free cash flow	92.5	28.5	38.1	−7.2	−3.0	−28.6

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.