Rankings Food, drinks & restaurants Brunello Cucinelli
Brunello Cucinelli
70
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Absolute price level−5
- ROIC trend−3
- Capital allocation and FCF conversion−3
Strengths
- Raised guidance+2
- Broad-based growth and pricing power+1
How the score is built
From 100 to 70, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 88.00 EUR
- Median analyst target
- 99.00 EUR
- Upside to median
- +12.5%
- Analysts
- 21
- Target range
- 70.00 – 130.00 EUR
- 52-week change
- +1%
- P/E (trailing)
- 43.4
- Forward P/E
- 36.2
- PEG
- 2.81
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 4 findings−9 of −30
- −2Quality of growthRevenue rose 13.3% at constant exchange rates and EBIT 12.6% in H1 2026, but net income only 2.0% to €78.2m (net margin 10.4% vs 11.2%). EPS is €2.03 TTM vs €1.99 in 2025 and €1.69 in 2023 – earnings per share lag revenue.
- −3ROIC trendROIC has fallen from 14.4% (2023) through 13.3% and 11.9% to 11.0% TTM, while capex has doubled from 61 to 123 m € a year; the return is only about 3 pp above the WACC of 7.9%.
- −3Capital allocation and FCF conversionFCF after leases was €1m in 2024, €3m in 2025 and €49m TTM, while the dividend was €62m, €64m and €71m – for three years the dividend has been paid with loans rather than free cash flow.
- −1MarginOperating margin 16.9% and net margin 9.4% TTM – low for an 'absolute luxury' brand compared with Moncler (29%) and Ferrari (29%).
Price
Today's multiples against the company's own history and its peers. · 3 findings−10 of −35
- −3Multiples vs own historyForward P/E 33.6 vs 44.5–86.2 in 2021–25 and trailing P/E 40.6 vs 49.5–77.4 – at the bottom of its own history, but the history is extremely high.
- −5Absolute price levelFCF after leases of €49m TTM gives a yield below 1% at a market cap of €5.6bn; P/B 9.9 and dividend yield 1.3%. The price assumes many years of double-digit growth.
- −2PeersForward P/E 33.6 vs 18.2 for Moncler, which has a higher margin and net cash; only Ferrari (about 33) trades similarly among Italian luxury names.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−6 of −35
- −3Short report, Russia and discount sellingMorpheus Research accused the company in September 2025 of circumventing EU sanctions via stores in Moscow and of aggressive discount sales to clear inventory; the share fell 17% on the day. The company denies this and states that Russia is about 1.4–2% of sales.
- −2Governance and key personThe family company Foro delle Arti (formerly Fedone) owns 50.05% and controls the company; the brand and strategy are closely tied to the founder Brunello Cucinelli personally.
- −1DebtNet debt excluding leases rose to €225m (€197m a year earlier) after investments and dividends; including leases, net debt is €1.05bn and debt/EBITDA 2.8.
Plus
Only documented strengths. · 2 findings+3 of +15
- +2Raised guidance2026 guidance raised from about 10% to 10–11% revenue growth at constant exchange rates, and about 10% growth confirmed for 2027.
- +1Broad-based growth and pricing powerGrowth in all regions in H1 (Americas +20.6%, Asia +14.1%, Europe +5.3% at constant rates), own stores +19.3%, and gross margin rose to 75.0%.
Caveats
What the score does not capture, or where the data is weak.
Luxury clothing does not fit the industry list (placed under Consumer: food, beverages & restaurants like Kering and Moncler). Stockanalysis' EV/EBITDA (15.1 now vs 26.8 in 2025) is inconsistent (EV 6.67bn / EBITDA 305m = 21.9) and has not been used; T2 is based on P/E and FCF. Debt of €1.23bn is mostly leases; net debt excluding leases was €225m at 30/6. FCF after leases (€49m TTM, €3m in 2025) is used because the store network is leased. The Morpheus allegations (Sept. 2025) have been rejected by the company, and no regulatory cases were found – the deduction reflects reputational and sanctions risk. Insider trades have not been examined. Q3 revenue is due about 16/10.
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