Loading…
Italian luxury yacht builder making custom motor yachts, superyachts and the Bluegame sport-yacht line for ultra-wealthy buyers.
Italian luxury yacht builder making custom motor yachts, superyachts and the Bluegame sport-yacht line for ultra-wealthy buyers.
Builds yachts largely to order, taking deposits and staged payments before delivery, so the order backlog gives good visibility and revenue is recognized as each boat is built. It sells through brokers and agents. Chairman and CEO Massimo Perotti is the controlling shareholder.
In one line: Italy's luxury yacht builder.
Moat: narrow (brand, installed base). Craftsmanship reputation and custom-build order backlog limit near-term new entrants.
Headquarters: Ameglia, Italy · Founded: 1958 · Employees: 1,655
Size Sanlorenzo (SL.MI) is an Italy Consumer Discretionary company (Recreational Products) with a market value of $1.46B, the 69th largest of 123 Italy companies the cockpit tracks. Shares closed at €36.52 on 6 Nov 2026.
Performance Over six months the shares fell 6.9%, against -7.0% for the median peer and +3.1% for the Italy market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 1.9% over the last twelve months (peer median +9.3%); the operating margin is 13.8% (peer median 8.3%).
Valuation It trades at 11.8× forward earnings against a peer median of 15.8× (5th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.8 points above its cost of capital (8.7% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.03B | €1.00B | €963M | €854M | €751M |
| Revenue growth | — | +4% | +13% | +14% | — |
| Gross profit | €141M | €132M | €138M | €139M | €112M |
| EBITDA | €184M | €156M | €157M | €146M | €122M |
| Net income | €110M | €107M | €103M | €92.8M | €74.2M |
| Free cash flow | €101M | €35.8M | -€2.45M | €88.8M | €108M |
| Capital expenditure | €50.0M | €48.2M | €49.3M | €44.5M | €50.0M |
| Total debt | €154M | €168M | €145M | €76.1M | €101M |
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 |
|---|---|---|---|---|---|---|
| Sanlorenzo SL.MI | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% |
| Ferretti YACHT.MI | $967M | -27% | +1% | 7% | 11.6× | 3.2% |
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 | SL.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.3% | +1.1% | 9th highest of 21 |
| 6-month return | -6.9% | -7.0% | 11th highest of 21 |
| Distance from 52-week high | -8.7% | -30.4% | 4th highest of 21 |
| Revenue growth (TTM) | +1.9% | +9.3% | 7th lowest of 21 |
| Operating margin | 13.8% | 8.3% | 4th highest of 21 |
| Forward P/E | 11.8× | 15.8× | 5th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.0% | 2.4% | 5th least demanding of 13 |
| Growth delivered (Del g) | +13.7% | +7.4% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -15.7 pp | -9.0 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +11.8 pp | -1.0 pp | 5th highest of 20 |
| EV / EBITDA | 6.9× | 8.5× | 4th cheapest of 13 |
| Net debt / EBITDA | -0.2× | -0.6× | 7th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sanlorenzo SL.MI | Italy | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% | +13.7% |
| Spin Master TOY.TO | Canada | $1.52B | +6% | -2% | 9% | 9.6× | -11.5% | +7.0% |
| Bloks 0325.HK | Hong Kong | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% | +102.8% |
| New Gonow Recreational Vehicles 0805.HK | Hong Kong | $1.36B | +491% | +13% | 2% | n/a | n/a | n/a |
| Yonex 7906.T | Japan | $1.31B | -10% | +15% | 10% | 14.6× | n/a | n/a |
| VTech 0303.HK | Hong Kong | $1.72B | -15% | -7% | 9% | 11.9× | -9.7% | -3.0% |
| Mips MIPS.ST | Sweden | $1.24B | +75% | +41% | 37% | 47.3× | 32.9% | +7.9% |
| tonies TNIE.DE | Germany | $1.86B | +24% | +36% | 4% | 37.4× | n/a | n/a |
| Fusheng Precision 6670.TW | Taiwan | $1.07B | -1% | +1% | 15% | 9.3× | -14.6% | +15.9% |
| GoldLok Holdings (Guangdong) 002348.SZ | China | $1.03B | -38% | +77% | -14% | n/a | n/a | n/a |
| Alpha 002292.SZ | China | $2.08B | +13% | +2% | 9% | 72.3× | 28.4% | +0.9% |
| Johnson Health Tech 1736.TW | Taiwan | $1.01B | -12% | +8% | 8% | 8.5× | -8.0% | +13.9% |
| Ferretti YACHT.MI | Italy | $967M | -27% | +1% | 7% | 11.6× | 3.2% | +15.9% |
| Winnebago Industries WGO | United States | $892M | -1% | -3% | 2% | 15.8× | 6.9% | -5.7% |
| Guangzhou Pearl River Piano 002678.SZ | China | $852M | -30% | +14% | -54% | n/a | n/a | n/a |
| Sturm, Ruger & RGR | United States | $798M | +28% | +8% | 2% | 26.8× | 21.9% | -0.8% |
| Tomy 7867.T | Japan | $2.74B | +89% | +7% | 9% | 20.2× | 2.5% | +13.9% |
| Callaway Golf CALY | United States | $3.00B | -4% | -37% | 9% | 18.6× | 2.4% | +5.3% |
| Tron TRON | United States | $669M | -37% | +20% | -45% | n/a | n/a | n/a |
| Thunder Tiger 8033.TW | Taiwan | $647M | -14% | +11% | -5% | n/a | n/a | n/a |
| Shuhua Sports 605299.SS | China | $642M | -60% | +20% | 9% | 32.8× | n/a | n/a |