NTZHousehold FurnitureFiscal year ends December 31
NATUZZI S P A
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on May 15, 2026
$1.00−0.15 (-12.92%)
Close on Aug 25, 2026
Margins
Share of revenue, fiscal years 2016 to 2024
Gross margin
36.3%+6.6 pts over 5 years
Operating margin
-2.0%+3.8 pts over 5 years
Net margin
-4.8%+3.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.0% | -9.3% | -3.8% | – | |
| Gross profit | +2.5% | -9.1% | +0.1% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | -27.8% | -24.6% | |
| Return on assets | – | -9.0% | -4.6% | |
| Current ratio | 1.46 | 1.03 | 0.91 | |
| Debt to equity | 0.13 | 0.18 | 0.35 | |
| Net debt to EBITDA | – | 1.98× | -6.23× | |
| Interest coverage | – | -2.8× | -0.6× | |
| Inventory turnover | – | 3.5× | 3.3× | |
| Capex to revenue | – | 1.0% | 1.6% | |
| Diluted shares | – | 55M | 55M |
Where the cash went
Fiscal 2020 to 2024, five years combined
Natuzzi S P A generated €36.44M from operations and spent €31.23M on capital expenditure, dividends and share buybacks. 95% of that went back into the business.
Generated
€36.44M
Used
€31.23M
Capital expenditure€29.54M95%Dividends€1.69M5%Share buybacks€00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-4.8%
×Asset turnover0.97×
×Equity multiplier5.35×
=Return on equity, FY2024-24.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -4.8% | 0.97× | 5.35× | -24.6% |
| FY2023 | -4.9% | 0.93× | 4.51× | -20.5% |
| FY2022 | -0.1% | 1.24× | 4.46× | -0.6% |
| FY2021 | 0.8% | 1.15× | 4.76× | 4.6% |
| FY2020 | -7.5% | 0.91× | 4.09× | -27.8% |
| FY2019 | -8.6% | 1.04× | 3.10× | -27.8% |
| FY2018 | 7.8% | 1.22× | 2.95× | 27.9% |
| FY2017 | -6.8% | 1.30× | 2.83× | -25.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
5of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-€15.15M
- Cash generatingOperating cash flow above zero€1.72M
- Return on assets improvedROA up on the prior year-4.4% → -4.5%
- Earnings backed by cashOperating cash flow above net income€1.72M vs -€15.15M
- Less leverageLong-term debt to assets fell3.6% → 4.4%
- Better liquidityCurrent ratio rose0.97 → 0.91
- No dilutionShare count did not rise55M → 55M
- Gross margin improvedGross margin up on the prior year34.34% → 36.29%
- More efficientAsset turnover rose0.89 → 0.94