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Employees: 5,502
Size Piaggio & C (PIA.MI) is an Italy Consumer Discretionary company (Motor Vehicles) with a market value of $862M, the 89th largest of 123 Italy companies the cockpit tracks. Shares closed at €2.18 on 6 Nov 2026.
Performance Over six months the shares gained 24.0%, against -15.9% for the median peer and +3.1% for the Italy market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 4.6% over the last twelve months (peer median +10.7%); the operating margin is 7.0% (peer median 1.4%).
Valuation It trades at 17.0× forward earnings against a peer median of 14.4× (6th most expensive of 13).
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 +3%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (8.7% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.49B | €1.50B | €1.70B | €1.99B | €2.09B |
| Revenue growth | — | -12% | -14% | -5% | — |
| Gross profit | -€31.8M | €191M | €241M | €305M | €315M |
| EBITDA | €252M | €217M | €245M | €299M | €267M |
| Net income | €34.3M | €34.0M | €67.2M | €91.1M | €84.9M |
| Free cash flow | €146M | €73.6M | €78.1M | €132M | €178M |
| Capital expenditure | €114M | €141M | €183M | €163M | €152M |
| Total debt | €673M | €699M | €684M | €622M | €611M |
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.
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 | PIA.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.9% | -4.1% | 2nd highest of 20 |
| 6-month return | +24.0% | -15.9% | 3rd highest of 20 |
| Distance from 52-week high | 0.0% | -38.3% | highest of 20 |
| Revenue growth (TTM) | -4.6% | +10.7% | 4th lowest of 19 |
| Operating margin | 7.0% | 1.4% | 3rd highest of 19 |
| Forward P/E | 17.0× | 14.4× | 6th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 2.6% | 3.7% | 4th least demanding of 10 |
| Growth delivered (Del g) | +2.7% | +3.1% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | -0.1 pp | +0.5 pp | 5th least demanding of 9 |
| ROIC minus cost of capital | -0.4 pp | -3.6 pp | 6th highest of 18 |
| EV / EBITDA | 5.0× | 12.4× | 2nd cheapest of 8 |
| Net debt / EBITDA | 1.9× | 1.3× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 17.0× | 2.6% | +2.7% |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 12.6× | 14.9% | -2.6% |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 11.6× | -16.1% | +10.7% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 11.3× | 11.9% | n/a |
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 8.4× | 3.7% | +0.8% |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | n/a | n/a | n/a |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 23.7× | n/a | n/a |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 17.2× | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 19.5× | 2.1% | -23.6% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | n/a | n/a | n/a |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | n/a | 23.6% | +36.9% |
| Kuen Tong Technology 7965.TWO | Taiwan | $796M | n/a | n/a | n/a | n/a | n/a | n/a |
| Haima Automobile 000572.SZ | China | $792M | -43% | -48% | -27% | n/a | n/a | n/a |
| Hanma Technology 600375.SS | China | $786M | -39% | +38% | 0% | n/a | 11.1% | +0.5% |
| IAT Automobile Technology 300825.SZ | China | $786M | +9% | +7% | -8% | 538.0× | n/a | n/a |
| Polestar Automotive Holding UK PLC Sponsored ADR PSNY | United States | $778M | -79% | +18% | -47% | n/a | n/a | n/a |
| Xiamen King Long Motor 600686.SS | China | $967M | -42% | -3% | 2% | 9.1× | -1.1% | +12.0% |
| Dometic DOM.ST | Sweden | $755M | -29% | -6% | -13% | 11.4× | 3.4% | +5.4% |
| Nissan Shatai 7222.T | Japan | $747M | -4% | +15% | 4% | n/a | n/a | n/a |
| Luyuan Group Holding (Cayman) 2451.HK | Hong Kong | $722M | +24% | -3% | 1% | 26.3× | n/a | n/a |
| Voyah Automotive Technology 7489.HK | Hong Kong | $704M | -75% | n/a | n/a | 16.2× | n/a | n/a |