Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Piquadro S.p.A. is an Italian company specializing in the design, manufacture, and marketing of premium leather goods, focusing on business and travel accessories. Founded in 1987 by Marco Palmieri, it produces a diverse range of products including professional bags, backpacks, luggage, small leather items, and clothing for men and women, emphasizing functionality, comfort, technology, and Italian craftsmanship. Notable for technical innovations backed by patents, Piquadro integrates high-tech features into its collections, blending aesthetic appeal with performance. The brand distributes worldwide to over 50 countries through branded stores, points of sale, and online channels, with partnerships like AC Milan, Ducati, Maserati, and Visa Cash App RB Formula 1 team highlighting its prestige. Headquartered near Bologna, the company achieved carbon neutrality in its operations for 2023/24 and listed on the Italian stock exchange in 2007, playing a key role in the luxury leather goods sector alongside iconic Italian fashion houses.
Operating margin is thin at 7.18%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 1.9%, essentially flat. This is a business that needs a catalyst.
Free cash flow declined 62% versus the prior year, cash generation momentum has weakened. Net debt of €27M represents 5.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€184M
▲ +1.9% YoY
Net Income (TTM)
€12M
▲ +10.0% YoY
Op. Margin
7.18%
▲ +1.9pp YoY
ROIC
8.03%
▲ +2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€5M
▼ -62.2% YoY
Op. Cash Flow (TTM)
€10M
▼ -31.5% YoY
Net Debt
€27M
Cash & Equiv.
€33M
3Y CAGR: +7.1%
3Y CAGR: -37.6%
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