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Italy
In shortZest Societa' Per Azioni is loss-making, burns cash and carries moderate debt, with revenue growing (+34.6% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -3.7% | 4/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -10.3% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -2.4% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -0.6% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.65× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.16× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -0.80× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -14.9% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 3 | 17/100 |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 3 | 33/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 2 | 100/100 |
| Revenue growth volatility | 11.4% | 69/100 |
| Operating margin volatility | 70.3% | 0/100 |
Weight in the score: 20%
Fiscal year 2025 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
The last 3 fiscal years from the company's annual reports.
EUR millions; negative values in parentheses.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 7,040 | 8,344 | 11,230 |
| Gross profit | (557) | 9,713 | 519 |
| Operating income | (2,669) | 8,114 | (410) |
| Interest expense | 265 | 387 | 515 |
| Pre-tax income | (2,530) | 7,758 | (904) |
| Income tax | 29 | 75 | 62 |
| Net income | (2,171) | 7,610 | (1,158) |
| Diluted EPS | −€0.21 | €0.06 | −€0.01 |
Not computed: a required balance-sheet item is missing.
2/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Apr 7, 2026