Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -68.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $19M | $26M | $53M | $75M | $84M | $175M | $138M | $19M | $43M | $88M | $125M |
| Enterprise Value | $112M | $108M | $132M | $143M | $128M | $232M | $190M | $79M | $37M | $78M | $96M |
| P/E Ratio → | -0.57 | — | — | — | — | 48.27 | — | — | 1.29 | — | — |
| P/S Ratio | 0.06 | 0.09 | 0.17 | 0.23 | 0.18 | 0.41 | 0.42 | 0.05 | 0.10 | 0.20 | 0.27 |
| P/B Ratio | 0.64 | 1.00 | 0.91 | 1.02 | 0.91 | 2.09 | 1.83 | 0.18 | 0.31 | 0.81 | 0.82 |
| P/FCF | — | — | — | — | 6.19 | — | 11.82 | 22.34 | — | — | 5.99 |
| P/OCF | — | — | 28.14 | 12.18 | 3.86 | 73.50 | 10.13 | 4.07 | — | — | 4.58 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.36 | 0.42 | 0.44 | 0.27 | 0.54 | 0.58 | 0.20 | 0.09 | 0.17 | 0.21 |
| EV / EBITDA | — | — | 8.87 | 11.15 | 4.26 | 8.84 | 14.04 | 30.02 | — | — | 7.67 |
| EV / EBIT | — | — | — | — | 12.79 | 17.20 | — | — | 0.84 | — | 37.64 |
| EV / FCF | — | — | — | — | 9.41 | — | 16.34 | 94.37 | — | — | 4.61 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.9% | 28.9% | 36.3% | 34.3% | 35.1% | 36.0% | 31.1% | 29.3% | 27.8% | 29.1% | 34.3% |
| Operating Margin | -7.4% | -7.4% | -2.0% | -2.9% | 1.8% | 1.1% | -3.2% | -5.8% | -5.9% | -5.3% | -0.1% |
| Net Profit Margin | -9.7% | -9.7% | -4.8% | -4.9% | -0.1% | 0.8% | -7.5% | -8.6% | 7.8% | -6.8% | -1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -68.4% | -68.4% | -23.0% | -19.4% | -0.6% | 4.5% | -27.4% | -27.5% | 27.0% | -23.3% | -3.9% |
| ROA | -9.8% | -9.8% | -4.6% | -4.5% | -0.1% | 1.0% | -6.8% | -9.0% | 9.6% | -9.1% | -1.7% |
| ROIC | -13.5% | -13.5% | -3.4% | -5.1% | 4.6% | 2.7% | -5.4% | -11.4% | -16.5% | -16.2% | -0.2% |
| ROCE | -15.4% | -15.4% | -3.6% | -5.1% | 4.5% | 2.6% | -5.3% | -8.6% | -10.7% | -13.1% | -0.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.94 | 3.94 | 1.71 | 1.40 | 1.06 | 1.32 | 1.34 | 0.95 | 0.41 | 0.42 | 0.24 |
| Debt / EBITDA | — | — | 6.69 | 7.96 | 3.27 | 4.22 | 7.44 | 38.08 | — | — | 2.87 |
| Net Debt / Equity | — | 3.16 | 1.37 | 0.94 | 0.47 | 0.68 | 0.70 | 0.57 | -0.04 | -0.09 | -0.19 |
| Net Debt / EBITDA | — | — | 5.33 | 5.35 | 1.46 | 2.18 | 3.88 | 22.91 | — | — | -2.30 |
| Debt / FCF | — | — | — | — | 3.22 | — | 4.52 | 72.04 | — | — | -1.38 |
| Interest Coverage | -2.40 | -2.40 | -0.87 | -1.12 | 1.55 | 2.86 | -2.00 | -3.25 | 7.69 | -5.03 | 0.53 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 0.91 | 0.97 | 1.06 | 1.01 | 0.97 | 1.03 | 3.13 | 1.37 | 1.50 |
| Quick Ratio | 0.50 | 0.50 | 0.51 | 0.57 | 0.67 | 0.60 | 0.61 | 0.57 | 1.86 | 0.83 | 0.97 |
| Cash Ratio | 0.14 | 0.14 | 0.13 | 0.22 | 0.30 | 0.27 | 0.27 | 0.26 | 0.94 | 0.37 | 0.43 |
| Asset Turnover | — | 1.10 | 1.00 | 0.97 | 1.27 | 1.10 | 0.92 | 1.05 | 1.15 | 1.41 | 1.32 |
| Inventory Turnover | 4.25 | 4.25 | 3.23 | 3.48 | 4.34 | 3.41 | 3.54 | 3.92 | 3.67 | 3.97 | 3.83 |
| Days Sales Outstanding | — | 56.63 | 53.16 | 53.89 | 44.82 | 46.38 | 37.72 | 27.53 | 34.89 | 36.97 | 47.60 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | 0.3% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 2.1% | — | — | 77.4% | — | — |
| FCF Yield | — | — | — | — | 16.2% | — | 8.5% | 4.5% | — | — | 16.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Shares Outstanding | — | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M |
Liquidity and operational insolvency
Based on current market data, Natuzzi trades at a P/S multiple of 0.06, a valuation level that suggests investors are heavily discounting the company's future viability due to persistent operating losses and the absence of a clear path toward sustainable profitability in the current furniture cycle.
The depressed P/S ratio indicates that the market views the company as a distressed asset rather than a growth-oriented consumer brand. Given the lack of positive earnings, traditional P/E multiples are non-informative, and the valuation appears to be tethered more to liquidation risk than to the potential for future cash flow generation.
As reported in recent financial statements, Natuzzi's operating margin of -7.44% highlights a fundamental inability to scale its high-cost manufacturing footprint, which stands in stark contrast to the more efficient, asset-light models observed in the broader luxury home furnishings sector.
The persistent negative operating margins suggest that the company's premium pricing strategy is insufficient to cover the overhead of its global retail and manufacturing network. Investors should monitor whether management can successfully pivot toward a more variable cost structure, as current margins imply a structural disconnect between production costs and market demand.
According to historical performance data, Natuzzi's ROIC has trended into negative territory, reaching -0.7% in the most recent quarter, which indicates that the company is currently destroying shareholder value rather than compounding it through its core manufacturing and retail operations.
The consistent failure to generate a positive return on invested capital suggests that the company's capital allocation strategy has been ineffective in the face of declining revenue. This trend warrants further investigation into whether the current asset base can ever achieve the efficiency levels required to generate returns above the cost of capital.
Based on the most recent quarterly filings, the company's current ratio has slipped to 0.88, a level that indicates a precarious liquidity position where current assets are insufficient to cover short-term obligations, leaving little room for error in a volatile consumer discretionary environment.
The decline in the current ratio suggests that the company's ability to manage its working capital is under significant pressure. This liquidity constraint may force management to prioritize short-term cash preservation over long-term strategic investments, potentially limiting the company's ability to respond to competitive threats or market shifts.
While some analysts rely on the P/B ratio of 0.72 to argue for deep value, this metric is fundamentally misapplied to Natuzzi because it obscures the rapid erosion of tangible assets and the potential for significant write-downs in the company's inventory and manufacturing infrastructure.
The P/B ratio fails to account for the high probability that the company's book value is inflated by legacy assets that may not be realizable in a distressed scenario. A more appropriate focus would be on the company's cash burn rate and its ability to secure external financing, rather than the accounting value of its physical assets.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NTZ stock.
Natuzzi S.p.A.'s current P/E ratio is -0.6x. The historical average is 19.3x.
Natuzzi S.p.A.'s return on equity (ROE) is -68.4%. The historical average is -3.8%.
Based on historical data, Natuzzi S.p.A. is trading at a P/E of -0.6x. Compare with industry peers and growth rates for a complete picture.
Natuzzi S.p.A. has 28.9% gross margin and -7.4% operating margin.