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Italian cement and ready-mix concrete producer with operations across Europe and the US.
Italian cement and ready-mix concrete producer with operations across Europe and the US.
Sells cement and ready-mix concrete to builders in markets where heavy bulk and freight costs make cement a local business, so earnings depend on regional pricing and energy and fuel costs. The US, Germany and Italy are the main markets, and the Buzzi family controls the group.
Moat: narrow (scale, installed base, regulatory licence). Capital-intensive, permit-constrained cement plants across Europe and the US limit new entrants.
Headquarters: Casale Monferrato, Italy · Founded: 1907 · Employees: 10,532
Size Buzzi (BZU.MI) is an Italy Materials company (Construction Materials) with a market value of $8.04B, the 30th largest of 123 Italy companies the cockpit tracks. Shares closed at €42.39 on 6 Nov 2026.
Performance Over six months the shares fell 9.4%, against +4.6% for the median peer and +3.1% for the Italy market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +1.4%); the operating margin is 17.9% (peer median 11.6%).
Valuation It trades at 9.3× forward earnings against a peer median of 16.0× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.2 points below its cost of capital (10.9% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €4.52B | €4.52B | €4.31B | €4.32B | €4.00B |
| Revenue growth | — | +5% | 0% | +8% | — |
| Gross profit | €1.53B | €1.58B | €1.60B | €1.60B | €1.26B |
| EBITDA | €1.15B | €1.19B | €1.23B | €1.20B | €839M |
| Net income | €859M | €921M | €942M | €967M | €459M |
| Free cash flow | €541M | €645M | €662M | €658M | €229M |
| Capital expenditure | €469M | €425M | €448M | €304M | €267M |
| Total debt | n/a | €439M | €603M | €680M | €1.28B |
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 | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Buzzi BZU.MI | $8.04B | -9% | +2% | 18% | 9.3× | 2.8% |
| Heidelberg Materials HEI.DE | $34.3B | -5% | 0% | 15% | 13.5× | 4.9% |
| Holcim HOLN.SW | $48.4B | -3% | -26% | 16% | 19.5× | 1.4% |
| CRH CRH | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% |
| Cemex SAB de CV Sponsored ADR CX | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% |
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 | BZU.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.8% | +9.5% | 3rd highest of 21 |
| 6-month return | -9.4% | +4.6% | 10th lowest of 20 |
| Distance from 52-week high | -22.6% | -20.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +1.6% | +1.4% | 10th highest of 21 |
| Operating margin | 17.9% | 11.6% | 3rd highest of 21 |
| Forward P/E | 9.3× | 16.0× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 2.8% | 4.4% | 8th least demanding of 19 |
| Growth delivered (Del g) | +7.0% | +5.4% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | -4.2 pp | -0.1 pp | 6th least demanding of 19 |
| ROIC minus cost of capital | -2.2 pp | -1.3 pp | 8th lowest of 21 |
| EV / EBITDA | 5.7× | 10.4× | 2nd cheapest of 17 |
| Net debt / EBITDA | -0.6× | 2.0× | 4th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Buzzi BZU.MI | Italy | $8.04B | -9% | +2% | 18% | 9.3× | 2.8% | +7.0% |
| Huaxin Building Materials 600801.SS | China | $7.16B | +28% | +16% | 18% | 14.8× | -10.9% | +3.7% |
| ROCKWOOL A/S ROCK-A.CO | Denmark | $6.72B | +11% | -1% | 13% | 16.2× | -4.8% | +8.3% |
| TCC 1101.TW | Taiwan | $6.09B | +11% | -6% | 8% | 29.2× | 9.1% | +7.2% |
| Eagle Materials EXP | United States | $5.71B | -12% | +2% | 22% | 16.1× | 9.7% | +7.3% |
| FLSmidth & Co. A/S FLS.CO | Denmark | $4.88B | +22% | -20% | 13% | 13.9× | 2.8% | -2.3% |
| Anhui Conch Cement 0914.HK | Hong Kong | $13.9B | -11% | -7% | 8% | 16.0× | 1.0% | -14.7% |
| Beijing New Building Materials (Group) 000786.SZ | China | $4.41B | -33% | -3% | 10% | 11.4× | -2.3% | +8.4% |
| James Hardie Industries JHX | United States | $16.2B | +33% | +43% | 14% | 21.0× | 26.1% | +10.7% |
| Asia Cement 1102.TW | Taiwan | $3.92B | +5% | -10% | 10% | 11.0× | 5.6% | -1.9% |
| Cemex SAB de CV Sponsored ADR CX | United States | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% | +4.7% |
| Tianshan Material 000877.SZ | China | $3.47B | -30% | -17% | -13% | n/a | 5.6% | -14.5% |
| United States Lime & Minerals USLM | United States | $3.39B | +7% | +4% | 41% | 19.6× | 5.1% | +18.3% |
| Vicat VCT.PA | France | $3.29B | +6% | +5% | 11% | 10.2× | 0.2% | +6.6% |
| Knife River KNF | United States | $3.20B | -38% | +11% | 9% | 23.1× | n/a | n/a |
| Taiheiyo Cement 5233.T | Japan | $3.03B | +19% | +1% | 8% | 7.7× | 0.8% | +0.8% |
| Amrize AMRZ | United States | $22.9B | -21% | +4% | 16% | 17.2× | -0.1% | +3.3% |
| China National Building Material 3323.HK | Hong Kong | $2.76B | -51% | 0% | 2% | 25.2× | 25.1% | -7.7% |
| FangDa Carbon New Material 600516.SS | China | $2.74B | -20% | +17% | -4% | 226.5× | n/a | n/a |
| Cementir CEM.MI | Italy | $2.70B | +5% | -2% | 13% | 12.8× | 4.3% | +6.0% |
| Cementos Molins CMO.MC | Spain | $2.70B | n/a | +14% | 12% | 13.6× | 8.9% | +12.5% |