Piaggio - Public Comps and Valuation Multiples

Piaggio Overview

About Piaggio

Piaggio & C. SpA is an Italian manufacturer of motor vehicles and also offers spare parts and related accessories. The group's product portfolio consists of scooters, mopeds, and motorcycles marketed under the Aprilia, Piaggio, Vespa, Moto Guzzi, Gilera, Derbi, and other brands, as well as three- and four-wheeler light vehicles, marketed under the Piaggio, Ape, and Porter brands. Maximum revenue is generated from the sale of its two-wheeler vehicles. Its geographical segments are EMEA and Americas, India, and Asia Pacific, with each segment having its production sites and a sales network dedicated to customers in that geographic segment. The group's key revenue is derived from the EMEA and Americas segment, which deals with the distribution and sale of two-wheeler and commercial vehicles.

Founded

1882

HQ

Employees

5.7K+

Website

piaggiogroup.com

Sectors

Automakers
Micromobility
AutomotiveTech

Financials

LTM Revenue $1.9B

LTM EBITDA $312M

EV

$1.4B

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Piaggio Financials

As of September 2025, Piaggio reported last 12-month revenue of $1.9B and EBITDA of $312M.

In the same period, Piaggio achieved $64.1M in LTM net income.

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Piaggio P&L

In the most recent fiscal year, Piaggio reported revenue of $2.0B and EBITDA of $330M.

Piaggio expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.9B	XXX	$2.0B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$445M	XXX	XXX	XXX
Gross Margin	n/a	XXX	23%	XXX	XXX	XXX
EBITDA	$312M	XXX	$330M	XXX	XXX	XXX
EBITDA Margin	17%	XXX	17%	XXX	XXX	XXX
EBIT	$150M	XXX	$161M	XXX	XXX	XXX
EBIT Margin	8%	XXX	8%	XXX	XXX	XXX
Net Profit	$64.1M	XXX	$77.8M	XXX	XXX	XXX
Net Margin	3%	XXX	4%	XXX	XXX	XXX
Net Debt	XXX	XXX	$587M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Piaggio including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.9B. EBITDA for the last twelve months was $312M. In the most recent fiscal year, Piaggio achieved $2.0B in revenue and $330M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.9B	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$445M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	22.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$312M	Analyst estimates available to subscribers	$330M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	16.5% EBITDA margin	Analyst estimates available to subscribers	16.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$150M	Analyst estimates available to subscribers	$161M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	7.9% EBIT margin	Analyst estimates available to subscribers	8.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$64.1M	Analyst estimates available to subscribers	$77.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.4% net profit margin	Analyst estimates available to subscribers	4.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$587M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Piaggio

This financial data table provides comprehensive performance metrics for Piaggio, a company based in Italy. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Piaggio generated $1.9B in revenue over the last twelve months.
The company achieved $312M in EBITDA over the last twelve months.
Net income over the last twelve months reached $64.1M.

Fiscal Year Performance

In the most recent fiscal year, Piaggio reported $2.0B in total revenue.
Fiscal year EBITDA was $330M.
The company maintained a gross profit margin of 22.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 16.8%.
Net profit margin reached 4.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Piaggio. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Piaggio Stock Performance

Piaggio has current market cap of EUR 689M (or $797M), and EV of EUR 1.2B (or $1.4B).

Market Cap Evolution

Piaggio Stock Data

As of October 17, 2025, Piaggio's stock price is EUR 2 (or $2).

See Piaggio trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.4B	$797M	XXX	XXX	XXX	XXX	$0.18

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Piaggio Valuation Multiples

Piaggio's trades at 0.7x EV/Revenue multiple, and 4.3x EV/EBITDA.

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Piaggio Financial Valuation Multiples

As of October 17, 2025, Piaggio has market cap of $797M and EV of $1.4B.

Equity research analysts estimate Piaggio's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Piaggio has a P/E ratio of 12.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$797M	XXX	$797M	XXX	XXX	XXX
EV (current)	$1.4B	XXX	$1.4B	XXX	XXX	XXX
EV/Revenue	0.7x	XXX	0.7x	XXX	XXX	XXX
EV/EBITDA	4.5x	XXX	4.3x	XXX	XXX	XXX
EV/EBIT	9.5x	XXX	8.8x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	12.4x	XXX	10.3x	XXX	XXX	XXX
EV/FCF	21.9x	XXX	-31.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Piaggio Margins & Growth Rates

Piaggio's last 12 month revenue growth is 3%

Piaggio's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $50K for the same period.

Piaggio's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Piaggio's rule of X is 24% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Piaggio Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	0%	XXX	XXX	XXX
EBITDA Margin	17%	XXX	17%	XXX	XXX	XXX
EBITDA Growth	3%	XXX	-9%	XXX	XXX	XXX
Rule of 40	19%	XXX	20%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	24%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$50K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	14%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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