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Italian independent asset management group offering mutual funds and wealth management, distributed via financial advisor networks.
Italian independent asset management group offering mutual funds and wealth management, distributed via financial advisor networks.
Earns management fees on assets in its funds, plus performance fees when funds beat targets, so income rises and falls with market levels and client flows. Funds are sold mostly through its own network of financial advisors, many of whom hold shares in the group. It has expanded by buying and building operations abroad.
Moat: narrow (distribution, brand). Independent (non-bank-owned) Italian asset manager with a large proprietary advisor distribution network.
Headquarters: Milan, Italy · Founded: 1989 · Employees: 1,099
Size Azimut (AZM.MI) is an Italy Financials company (Financial Conglomerates) with a market value of $5.70B, the 40th largest of 123 Italy companies the cockpit tracks. Shares closed at €35.82 on 6 Nov 2026.
Performance Over six months the shares fell 1.2%, against -1.6% for the median peer and +3.1% for the Italy market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 17.3% over the last twelve months (peer median +20.0%); the operating margin is 45.8% (peer median 31.6%).
Valuation It trades at 2.62× book value against a peer median of 1.18× (4th most expensive of 20).
Price implies The share price implies a return on equity of about 24.8%; Azimut delivers 28.5%, so the price asks less than the business earns today.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.54B | €1.46B | €1.36B | €1.24B | €1.32B |
| Revenue growth | — | +8% | +10% | -6% | — |
| Gross profit | €1.09B | €1.02B | €946M | €858M | €901M |
| EBITDA | €740M | €706M | €695M | €656M | €588M |
| Net income | €528M | €526M | €576M | €435M | €406M |
| Free cash flow | n/a | €700M | €978M | €824M | €156M |
| Capital expenditure | n/a | €60.4M | €48.5M | €49.5M | €48.3M |
| Total debt | €159M | €137M | €63.7M | €573M | €575M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Azimut AZM.MI | $5.70B | -1% | +17% | 28% | 2.62× | 24.8% |
| Banca Generali BGN.MI | $7.73B | +4% | +17% | 39% | 4.91× | 38.7% |
| FinecoBank FBK.MI | $15.4B | +3% | +5% | 32% | 5.71× | 43.8% |
| Amundi AMUN.PA | $21.7B | +9% | +1% | 11% | 1.52× | 15.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AZM.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | +4.0% | 8th lowest of 21 |
| 6-month return | -1.2% | -1.6% | 11th highest of 21 |
| Return on equity | 28.5% | 5.2% | 3rd highest of 20 |
| Price / book | 2.62× | 1.18× | 4th most expensive of 20 |
| Trailing P/E | 9.6× | 12.5× | 5th cheapest of 15 |
| ROE the price implies | 24.8% | 11.7% | 4th most demanding of 20 |
| ROE delivered | 28.5% | 5.2% | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 28% | 2.62× | 24.8% | 28.5% |
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 5% | 0.60× | 6.5% | 5.2% |
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 4% | 0.77× | 7.1% | 3.9% |
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 15% | 1.68× | 12.3% | 14.9% |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | -24% | 1.11× | 11.6% | -23.5% |
| Zegona Communications ZEG.L | United Kingdom | $5.17B | -5% | +55% | n/a | n/a | n/a | n/a |
| Authum Investment & Infrastucture AIIL.NS | India | $5.14B | +16% | -23% | 10% | 2.59× | 37.9% | 10.0% |
| Wendel MF.PA | France | $4.14B | 0% | -13% | -4% | 1.11× | 12.4% | -3.9% |
| Legend 3396.HK | Hong Kong | $4.03B | +34% | +27% | 5% | 0.49× | 5.9% | 4.6% |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 50% | 1.18× | 11.7% | 50.3% |
| BB Biotech BION.SW | Switzerland | $3.45B | +13% | +125% | 39% | 0.87× | 4.6% | 38.7% |
| Golub Capital BDC GBDC | United States | $3.31B | -3% | -9% | 4% | 0.89× | 6.7% | 4.5% |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | -4% | 2.91× | 32.8% | -3.8% |
| Roko ROKO-B.ST | Sweden | $2.97B | +14% | +20% | 15% | 4.58× | 12.3% | 14.5% |
| Kyivstar KYIV | United States | $2.96B | -4% | +26% | 20% | 2.13× | 18.0% | 20.2% |
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 28% | 0.91× | 8.0% | 28.4% |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -151% | 0.94× | 15.1% | -151.2% |
| Strive ASST | United States | $2.73B | +35% | +650% | -138% | 2.72× | 48.9% | -137.9% |
| Washington H. Soul Pattinson and SOL.AX | Australia | $12.5B | +12% | +143% | 20% | 1.42× | 8.9% | 19.8% |
| Zhejiang Provincial New Energy Investment 600032.SS | China | $2.59B | -27% | -6% | 2% | 1.31× | 8.5% | 2.3% |
| Bajaj Holdings & Investment BAJAJHLDNG.NS | India | $13.0B | +4% | -14% | 13% | 1.67× | 20.7% | 13.1% |