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⚠️ Not investment advice. Past performance does not guarantee future results.
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Amplifon AMP.MI

Italy Healthcare
4.9/10
AI Analyst score
12.01 EUR
Last price at analysis date · analyst target 13.62 (+13.5%)
🛒 Where to buy AMP.MIPartner brokers · Italy · sample 200.00 € orderItaly
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🟡 HOLD — Hold, with attention to the evolution of the GN Hearing integration and the resulting leverage.

Amplifon is a global distributor of hearing solutions, operating a network of clinics and audiology centers that sell hearing aids and hearing care services to clients with hearing loss. Amplifon, with a forward P/E of 13.65 and an FCF yield of 11.10%, presents an attractive valuation that does not fully discount the growth potential of the GN Hearing acquisition, although high leverage (ND/EBITDA 3.09) and low ROE (5.74) are counterweights.

Financial health
4.1
Quality / Moat
4.8
Valuation
7.0
Growth
5.7
Dividend
4.2
Momentum
2.7
Risk & Context
3.5

Detailed metrics

Market and fundamental data as of the analysis date.

💵 Valuation
P/E38.73
Fwd P/E13.65
EV/EBITDA11.86
P/B2.11
P/S1.33
PEG0.34
Market cap3.19 B EUR
Enterprise value4.11 B EUR
🏰 Quality and moat
ROIC (approx.)9.7%
Gross margin23.89%
FCF conversion102%
Operating margin13.30%
📈 Profitability and margins
ROE5.74%
ROA3.78%
Net margin3.01%
FCF354.0 M EUR
FCF yield11.10%
🏦 Solvency and liquidity
Total debt1.78 B EUR
Net debt1.07 B EUR
Cash712.0 M EUR
EBITDA346.2 M EUR
Net debt / EBITDA3.09
D/E117.68
Current ratio0.73
Quick ratio0.67
🚀 Growth
Revenue growth2.20%
Earnings growth5.50%
EPS (TTM)0.31 EUR
EPS (Fwd)0.88 EUR
💰 Dividend and risk
Dividend yield2.42%
Payout93.4%
Beta0.99
Analyst consensusBuy (16)
Target price13.62 EUR
52-week range7.84 EUR – 15.84 EUR
⚠️ Main risk: The main risk is the integration of GN Hearing and the increase in leverage, which could pressure financial health and the dividend if the operation does not generate the expected synergies.
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Full AI report

Generated automatically from the metrics, the macro context and the company's news.

Amplifon is a global distributor of hearing solutions, operating a network of clinics and audiology centers that sell hearing aids and hearing care services to clients with hearing loss. Amplifon, with a forward P/E of 13.65 and an FCF yield of 11.10%, presents an attractive valuation that does not fully discount the growth potential of the GN Hearing acquisition, although high leverage (ND/EBITDA 3.09) and low ROE (5.74) are counterweights.

Score by category

CategoryScore
Financial health4.1
Quality / Moat4.8
Valuation7.0
Growth5.7
Dividend4.2
Momentum2.7
Risk & Context3.5

OVERALL SCORE: 4.9/10

Context and risks

Italy presents an elevated governance risk, with weak minority protection and legal uncertainty, which justifies an additional penalty on the base risk. The GN Hearing acquisition adds integration and increased leverage risk.

News considered in the analysis

  • Amplifon to acquire GN Hearing in $2.6bn deal — Adquisición transformadora que redefine el panorama competitivo y el perfil de crecimiento, aunque añade riesgo de integración y apalancamiento.
  • Amplifon’s Big Bet Has Investors Hearing Alarm Bells — El mercado muestra escepticismo sobre la operación GN Hearing, reflejado en el mal momentum de la acción.
  • Amplifon GN Hearing Deal Reshapes Valuation And Growth Outlook — La operación mejora las perspectivas de crecimiento a largo plazo, pero la valoración resultante es incierta.
  • Is Amplifon (AMFPF) Stock Undervalued Right Now? — Artículo genérico de análisis de valoración sin información nueva.
  • European Value Picks: 3 Stocks Trading At An Estimated Discount — Listículo sin información específica accionable.

Verdict: Hold, with attention to the evolution of the GN Hearing integration and the resulting leverage.

Main risk: The main risk is the integration of GN Hearing and the increase in leverage, which could pressure financial health and the dividend if the operation does not generate the expected synergies.

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Automatically generated analysis from fundamental, market and news data. Not personalised financial advice — a research tool, not an individual recommendation. Past performance does not guarantee future results. Last update of this analysis: 2026-09-28. Legal notice, privacy & cookies.