STVNNYSESurgical & Medical Instruments & Apparatus
Stevanato Group S.p.A.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 4, 2026
$19.02+0.12 (+0.63%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
29.0%−0.3 pts over 5 years
Operating margin
16.8%+1.2 pts over 5 years
Net margin
11.8%−0.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.4% | +6.4% | +12.4% | – | |
| Gross profit | +13.7% | +2.4% | +12.1% | – | |
| Operating income | +23.4% | +1.1% | +14.0% | – | |
| Net income | +18.7% | -0.7% | +12.2% | – | |
| EPS, diluted | +18.6% | -1.9% | +9.1% | – | |
| Free cash flow | – | – | -19.5% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 9.7% | |
| Return on assets | – | – | 5.7% | |
| Current ratio | – | 1.56 | 1.76 | |
| Interest coverage | – | 4.7× | 8.8× | |
| Inventory turnover | – | – | 3.3× | |
| Capex to revenue | – | 13.5% | 22.2% | |
| Diluted shares | – | 241M | 273M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Stevanato Group S.p.A. generated €783.71M from operations and spent €1.41B on capital expenditure, dividends and share buybacks. 95% of that went back into the business.
Generated
€783.71M
Used
€1.41B
Capital expenditure€1.34B95%Dividends€68.19M5%Share buybacks€00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.8%
×Asset turnover0.49×
×Equity multiplier1.69×
=Return on equity, FY20259.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.8% | 0.49× | 1.69× | 9.7% |
| FY2024 | 10.7% | 0.50× | 1.73× | 9.3% |
| FY2023 | 13.4% | 0.58× | 1.75× | 13.7% |
| FY2022 | 14.5% | 0.64× | 1.67× | 15.5% |
| FY2021 | 15.9% | 0.71× | 2.07× | 23.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero€139.84M
- Cash generatingOperating cash flow above zero€286.08M
- Return on assets improvedROA up on the prior year5.7% → 6.0%
- Earnings backed by cashOperating cash flow above net income€286.08M vs €139.84M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.84 → 1.76
- No dilutionShare count did not rise271M → 273M
- Gross margin improvedGross margin up on the prior year27.38% → 28.99%
- More efficientAsset turnover rose0.53 → 0.51