Piquadro SpAMIL:PQ -0.37%80 Gross Margin % is 76.67% as of Sep. 2025, which is 3% below its 10-year median of 78.83. GuruFocus rates MIL:PQ with a GF Score™ of 80/100 and a GF Value™ of €2.19 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,026 Manufacturing - Apparel & Accessories companies, Piquadro SpA ranks better than 97.76% on this metric.
The historical rank and industry rank for Piquadro SpA's Gross Margin % or its related term are showing as below:
MIL:PQ'
s Gross Margin % Range Over the Past 10 Years
Min: 73.03 Med: 78.83 Max: 81.25
Current: 77.34
During the past 13 years, the highestGross Margin % of Piquadro SpA was 81.25%. The lowest was 73.03%. And the median was 78.83%.
MIL:PQ's Gross Margin % is ranked better than 97.76% of 1026
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 28.51
vs MIL:PQ: 77.34
Piquadro SpA had a gross margin of 76.67% for the quarter that ended in Sep. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Piquadro SpA was 0.70% per year.
Piquadro SpA (MIL:PQ) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Piquadro SpA had a gross margin of 76.67% for the quarter that ended in Sep. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Piquadro SpA Gross Margin % Related Terms
Piquadro SpA Gross Margin % Historical Data
* Premium members only.
The historical data trend for Piquadro SpA's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:PQ vs NKE, DECK, ONON: Gross Margin % Comparison
For the Footwear & Accessories subindustry, Piquadro SpA's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Piquadro SpA Gross Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Piquadro SpA's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Piquadro SpA's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Piquadro SpA (MIL:PQ) has a Gross Margin % of 76.67% as of Sep. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Piquadro SpA and its competitors. This is near median its historical median of 78.83. Over the past decade, Piquadro SpA's Gross Margin % has ranged from 73.03 to 81.25. According to the industry distribution chart, Piquadro SpA ranks #23 out of 1026 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 2.2%.
Is Piquadro SpA's Gross Margin % too high?
Piquadro SpA's current Gross Margin % of 76.67% is near median its 10-year median of 78.83. Over the past 10 years, this metric has ranged from a low of 73.03 to a high of 81.25. The Manufacturing - Apparel & Accessories industry median Gross Margin % is 28.51. Piquadro SpA's value of 76.67% is 168.9% above this industry median. Based on the distribution chart, Piquadro SpA ranks #23 out of 1026 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Piquadro SpA has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Piquadro SpA's Gross Margin % compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Piquadro SpA ranks #23 out of 1026 companies for Gross Margin %. This places Piquadro SpA in the top 2% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 28.51. Piquadro SpA's value of 76.67% is 168.9% above this benchmark. Historically, Piquadro SpA's own Gross Margin % has ranged from 73.03 to 81.25 over the past decade. While the company's 10-year median is 78.83 vs. the industry median of 28.51, Piquadro SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Manufacturing - Apparel & Accessories company?
The median Gross Margin % among Manufacturing - Apparel & Accessories companies is 28.51, based on 1,026 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Piquadro SpA's current Gross Margin % of 76.67% is 168.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Piquadro SpA and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Gross Margin % is 28.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Piquadro SpA's current Gross Margin % is 76.67%, which is near median its own 10-year median of 78.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Piquadro SpA stock overvalued right now?
Based on GuruFocus' analysis, Piquadro SpA (MIL:PQ) is currently considered Modestly Overvalued. The stock's GF Value™ is €2.19, compared to a current price of €2.71 — trading 23.7% above its estimated fair value. The current Gross Margin % is 76.67%, which is near median its 10-year median of 78.83 and 168.9% above the Manufacturing - Apparel & Accessories industry median of 28.51. Piquadro SpA's overall GF Score™ is 80/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Piquadro SpA (MIL:PQ), the current Gross Margin % is 76.67% as of Sep. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Piquadro SpA (MIL:PQ) Overvalued in 2026?
Based on GuruFocus' analysis, Piquadro SpA stock appears to be overvalued.
The current stock price of €2.71 is trading 23.7% above its estimated GF Value™ of €2.19.
GuruFocus considers Piquadro SpA to be Modestly Overvalued.
Key valuation signals for MIL:PQ:
Gross Margin %: 76.67% (near median its 10-year median of 78.83)
GF Value™: €2.19 vs. price of €2.71 (23.7% above fair value)
Industry Position: 168.9% above the Manufacturing - Apparel & Accessories median (#23 of 1026)
No single metric tells the full story. See the MIL:PQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Piquadro SpA operates in the leather goods market. It is engaged in the design, manufacturing, and marketing of leather goods. The company's product portfolio includes bags and briefcases, women's purses, small leather articles such as wallets, billfolds, key holders, etc., sneakers, jackets, and others. The products are marketed through Piquadro, The Bridge, and Lancel brands which are also the company's reportable segments. Maximum revenue is generated from the Piquadro segment. Geographically, the company derives maximum revenue from Europe (excluding Italy) followed by Italy, and other regions.
80GF Score
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