Azimut AZM.MI
ItalyFinancial Services · Asset ManagementBorsa Italiana · EUR
42.04 EUR (+14.4%)
7 analysts
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Azimut is an Italian asset manager offering savings and investment products through a network of financial advisors, with a business model based on management and distribution fees.
Listed on Borsa Italiana · Symbol AZM.MI · BIT: AZM · Currency EUR
Key points
from its scores- ✓High-quality business9.2
- ✓Attractive dividend8.5
- ✓Very solid balance sheet8.0
- ✕Unfavourable risk and backdrop3.6
- !Moderate growth5.5
AI analysis
bottom line, main risk, context and newsStrong profitability and valuation offset weak earnings growth and governance risk in the country of domicile.
Azimut shows exceptional profitability (ROE 29.35%, operating margin 40.91%) and an attractive valuation (P/E 9.88, P/B adjusted 0.90), although earnings growth is negative (-6.9%) and the jurisdictional risk of Italy moderates the overall appeal.
The main risk is exposure to Italy's institutional governance, which may affect minority shareholder protection and regulatory stability in the asset management sector.
Context and risks
Azimut is an Italian asset manager with strong exposure to the distribution of savings products in Italy, a market with weak institutional governance and limited minority protections. Although its business does not depend on rates or commodities, the institutional quality of the country of domicile justifies a penalty for jurisdictional risk, which is reflected in the assigned risk profile.
Is Azimut stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades in line with the Financial Services median (within 15%).
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 9.9 | 13.7 | −28% |
| EV / EBITDA | 7.1 | 10.1 | −29% |
| Price / book | 2.6 | 1.9 | +42% |
| Price / sales | 3.3 | 3.5 | −5% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.0 out of 10 (median for Financial Services: 5.2).
Average analyst target: 42.04 EUR, +14.4% versus the price.
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 9.9
- Forward P/E
- 10.1
- EV / EBITDA
- 7.1
- Price / book
- 2.6
- Price / sales
- 3.3
- PEG
- 1.74
- Market cap
- 5.2B EUR
- Enterprise value
- 4.9B EUR
Profitability
- ROE
- 29.3%
- ROA
- 4.1%
- ROIC (approx.)
- 31.6%
- Gross margin
- 60.8%
- Operating margin
- 40.9%
- Net margin
- 33.5%
- Free cash flow
- 297.7M EUR
- FCF yield
- 5.8%
- Cash conversion
- 43%
Solvency
- Total debt
- 85.4M EUR
- Net debt
- −362.6M EUR
- Cash
- 447.9M EUR
- EBITDA
- 689.0M EUR
- Net debt / EBITDA
- −0.53
- Debt / equity
- 4.26
- Current ratio
- 4.06
- Quick ratio
- 3.27
Growth
- Revenue growth
- +17.0%
- Earnings growth
- −6.9%
- EPS (TTM)
- 3.72 EUR
- EPS (forward)
- 3.65 EUR
Dividend
- Dividend yield
- 5.4%
- Payout
- 53.8%
Risk and market
- Beta
- 0.98
- Analyst consensus
- none (7)
- Target price
- 42.04 EUR
- 52-week range
- 30.19 – 40.39
Recent news
All AZM.MI news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Azimut
Is Azimut stock cheap or expensive?
On P/E and Price / book, it trades in line with the Financial Services median (within 15%). Valuation score: 7.0 out of 10 (median for Financial Services: 5.2). Average analyst target: 42.04 EUR, +14.4% versus the price. This is not investment advice.
What score does Azimut get on MeridIAn Screener?
It scores 7.1 out of 10, rank 151 of 2,130 (better than 91% of the companies analysed). Its strongest category is Quality / Moat (9.2) and its weakest, Risk & Context (3.6). Analysis of 08/10/2026.
What is Azimut's P/E ratio?
Its P/E is 9.9: the share price equals 9.9 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 10.1.
How much is Azimut worth on the stock market?
Its market capitalisation is 5.2B EUR.
Does Azimut pay a dividend?
Yes: its dividend yield is 5.44% and it pays out 54% of its earnings.
How has Azimut stock performed over the last year?
It has risen 20.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 30.19 and 40.39 EUR. Past performance does not guarantee future results.
What do analysts think of Azimut?
7 analysts cover it; their average recommendation is “none” and their average target is 42.04 EUR (+14.4% versus the price). It is an estimate, not market data.