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Italian maker of heat exchangers used in commercial refrigeration, air conditioning and industrial cooling systems.
Italian maker of heat exchangers used in commercial refrigeration, air conditioning and industrial cooling systems.
Sells heat exchangers designed to each customer's cooling equipment, mostly to makers of refrigeration and air-conditioning units, so orders follow equipment makers' production and the group's projects for data centers. Plants are spread across several countries.
In one line: An Italian niche heat-exchanger maker, no single clean large-cap US analogue.
Moat: narrow (process know-how, customer qualification, scale). Established European leadership in heat-exchanger design and manufacturing, benefiting from data-center cooling demand growth.
Headquarters: Uboldo, Italy · Founded: 1978 · Employees: 3,069
Size LU-VE (LUVE.MI) is an Italy Industrials company (Industrial Machinery) with a market value of $1.47B, the 68th largest of 123 Italy companies the cockpit tracks. Shares closed at €58.90 on 6 Nov 2026.
Performance Over six months the shares fell 13.1%, against -30.5% for the median peer and +3.1% for the Italy market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +19.0%); the operating margin is 10.0% (peer median 10.0%).
Valuation It trades at 25.0× forward earnings against a peer median of 20.6× (4th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.7 points above its cost of capital (8.4% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €634M | €604M | €587M | €616M | €617M |
| Revenue growth | — | +3% | -5% | 0% | — |
| Gross profit | €67.9M | €122M | €115M | €113M | €109M |
| EBITDA | €92.9M | €85.2M | €81.3M | €77.4M | €73.6M |
| Net income | €48.3M | €38.1M | €34.5M | €29.7M | €47.7M |
| Free cash flow | €44.7M | €37.6M | €58.8M | €37.8M | €1.02M |
| Capital expenditure | €24.6M | €31.2M | €19.9M | €36.0M | €36.7M |
| Total debt | €450M | €467M | €414M | €381M | €439M |
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 |
|---|---|---|---|---|---|---|
| LU-VE LUVE.MI | $1.47B | -13% | +8% | 10% | 25.0× | 14.5% |
| Carel Industries CRL.MI | $3.24B | -11% | +17% | 15% | 30.5× | 23.3% |
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 | LUVE.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | -13.8% | 10th highest of 21 |
| 6-month return | -13.1% | -30.5% | 6th highest of 20 |
| Distance from 52-week high | -18.8% | -53.0% | 2nd highest of 21 |
| Revenue growth (TTM) | +8.3% | +19.0% | 6th lowest of 20 |
| Operating margin | 10.0% | 10.0% | 10th highest of 20 |
| Forward P/E | 25.0× | 20.6× | 4th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 14.5% | 12.2% | 4th most demanding of 11 |
| Growth delivered (Del g) | +8.6% | +11.2% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | +5.9 pp | +1.5 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | +2.7 pp | -2.8 pp | 5th highest of 20 |
| EV / EBITDA | 15.3× | 10.6× | 3rd most expensive of 7 |
| Net debt / EBITDA | 1.1× | -0.4× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LU-VE LUVE.MI | Italy | $1.47B | -13% | +8% | 10% | 25.0× | 14.5% | +8.6% |
| Crompton Greaves Consumer Electricals CROMPTON.NS | India | $1.47B | -26% | +12% | 8% | 23.6× | 20.5% | +11.0% |
| Goodwin GDWN.L | United Kingdom | $1.46B | +16% | +2% | 13% | n/a | 47.7% | -12.1% |
| Shenzhen Qiangrui Precision Technology 301128.SZ | China | $1.46B | -47% | +56% | 10% | n/a | n/a | n/a |
| Hongyuan Green Energy 603185.SS | China | $1.46B | -34% | +14% | -15% | 51.1× | n/a | n/a |
| Interroll INRN.SW | Switzerland | $1.47B | -11% | +2% | 13% | 20.6× | 1.4% | -0.6% |
| Qinchuan Machine Tool & Tool Group Share 000837.SZ | China | $1.46B | -14% | +8% | -4% | 105.7× | n/a | n/a |
| Ningbo Donly 002164.SZ | China | $1.49B | +49% | +5% | 5% | n/a | n/a | n/a |
| Zhuzhou Huarui Precision Cutting Tools 688059.SS | China | $1.44B | -33% | +23% | 36% | 18.1× | n/a | n/a |
| Test Research 3030.TW | Taiwan | $1.44B | -51% | +32% | 40% | n/a | -2.5% | +11.3% |
| Wasion 3393.HK | Hong Kong | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% | +19.7% |
| Changzheng Engineering Technology 603698.SS | China | $1.51B | -57% | -4% | 7% | 33.0× | n/a | n/a |
| Jiangsu Huahong Technology Stock 002645.SZ | China | $1.52B | -38% | +57% | 5% | 20.6× | n/a | n/a |
| Rokae (Shandong) Robotics 3752.HK | Hong Kong | $1.52B | n/a | +105% | -5% | n/a | n/a | n/a |
| Hymson Laser Technology 688559.SS | China | $1.41B | -34% | +78% | 1% | 22.0× | 11.9% | +26.3% |
| Jirfine Intelligent Equipment 301603.SZ | China | $1.53B | -12% | +43% | 15% | n/a | 28.5% | +26.7% |
| Guangdong Huicheng Vacuum Technology 301392.SZ | China | $1.41B | -25% | +48% | 7% | n/a | n/a | n/a |
| CKD 6407.T | Japan | $1.54B | -40% | +11% | 14% | 10.8× | 12.4% | +8.1% |
| Sunrise Energy Metals SRL.AX | Australia | $1.38B | -16% | n/a | n/a | n/a | n/a | n/a |
| Ningbo Haitian Precision Machinery 601882.SS | China | $1.56B | -1% | +19% | 11% | 20.0× | 12.8% | +15.6% |
| Helios Technologies HLIO | United States | $1.56B | -30% | +14% | 13% | 14.6× | 11.2% | +9.9% |