Ermenegildo Zegna NVSTU:JN0 +1.97%82 Gross Margin % is 67.53% as of Dec. 2025, which is 9% above its 10-year median of 61.90. GuruFocus rates STU:JN0 with a GF Score™ of 82/100 and a GF Value™ of €9.88 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,020 Manufacturing - Apparel & Accessories companies, Ermenegildo Zegna NV ranks better than 94.12% on this metric.
The historical rank and industry rank for Ermenegildo Zegna NV's Gross Margin % or its related term are showing as below:
STU:JN0'
s Gross Margin % Range Over the Past 10 Years
Min: 47.03 Med: 61.9 Max: 67.51
Current: 67.51
During the past 8 years, the highestGross Margin % of Ermenegildo Zegna NV was 67.51%. The lowest was 47.03%. And the median was 61.90%.
STU:JN0's Gross Margin % is ranked better than 94.12% of 1020
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 28.51
vs STU:JN0: 67.51
Ermenegildo Zegna NV had a gross margin of 67.53% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Ermenegildo Zegna NV was 6.10% per year.
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
Ermenegildo Zegna NV had a gross margin of 67.53% for the quarter that ended in Dec. 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.
Ermenegildo Zegna NV Gross Margin % Related Terms
Ermenegildo Zegna NV Gross Margin % Historical Data
* Premium members only.
The historical data trend for Ermenegildo Zegna NV'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.
STU:JN0 vs PVH, COLM, UAA: Gross Margin % Comparison
For the Apparel Manufacturing subindustry, Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV Gross Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Ermenegildo Zegna NV's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV (STU:JN0) has a Gross Margin % of 67.53% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Ermenegildo Zegna NV and its competitors. This is near median its historical median of 61.90. Over the past decade, Ermenegildo Zegna NV's Gross Margin % has ranged from 47.03 to 67.51. According to the industry distribution chart, Ermenegildo Zegna NV ranks #60 out of 1020 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 5.9%.
Is Ermenegildo Zegna NV's Gross Margin % too high?
Ermenegildo Zegna NV's current Gross Margin % of 67.53% is near median its 10-year median of 61.90. Over the past 10 years, this metric has ranged from a low of 47.03 to a high of 67.51. The Manufacturing - Apparel & Accessories industry median Gross Margin % is 28.51. Ermenegildo Zegna NV's value of 67.53% is 136.9% above this industry median. Based on the distribution chart, Ermenegildo Zegna NV ranks #60 out of 1020 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Ermenegildo Zegna NV has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ermenegildo Zegna NV's Gross Margin % compare to PVH and COLM?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Ermenegildo Zegna NV ranks #60 out of 1020 companies for Gross Margin %. This places Ermenegildo Zegna NV in the top 6% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 28.51. Ermenegildo Zegna NV's value of 67.53% is 136.9% above this benchmark. Historically, Ermenegildo Zegna NV's own Gross Margin % has ranged from 47.03 to 67.51 over the past decade. While the company's 10-year median is 61.90 vs. the industry median of 28.51, Ermenegildo Zegna NV 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 1,020 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. Ermenegildo Zegna NV's current Gross Margin % of 67.53% is 136.9% 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 Ermenegildo Zegna NV 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. Ermenegildo Zegna NV's current Gross Margin % is 67.53%, which is near median its own 10-year median of 61.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ermenegildo Zegna NV stock overvalued right now?
Based on GuruFocus' analysis, Ermenegildo Zegna NV (STU:JN0) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.88, compared to a current price of €11.92 — trading 20.6% above its estimated fair value. The current Gross Margin % is 67.53%, which is near median its 10-year median of 61.90 and 136.9% above the Manufacturing - Apparel & Accessories industry median of 28.51. Ermenegildo Zegna NV's overall GF Score™ is 82/100 with 7 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 Ermenegildo Zegna NV (STU:JN0), the current Gross Margin % is 67.53% as of Dec. 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 Ermenegildo Zegna NV (STU:JN0) Overvalued in 2026?
Based on GuruFocus' analysis, Ermenegildo Zegna NV stock appears to be overvalued.
The current stock price of €11.92 is trading 20.6% above its estimated GF Value™ of €9.88.
GuruFocus considers Ermenegildo Zegna NV to be Modestly Overvalued.
Key valuation signals for STU:JN0:
Gross Margin %: 67.53% (near median its 10-year median of 61.90)
GF Value™: €9.88 vs. price of €11.92 (20.6% above fair value)
Industry Position: 136.9% above the Manufacturing - Apparel & Accessories median (#60 of 1020)
No single metric tells the full story. See the STU:JN0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ermenegildo Zegna NV designs creates, and distributes luxury menswear and accessories under the Zegna brand, as well as womenswear, menswear, and accessories under the Thom Browne brand. The company operates in three segments: the Zegna segment (comprising three product lines: Zegna Branded Products, Textile, and Third Party Brands); the Thom Browne segment, and the Tom Ford Fashion segment. The company generates the majority of revenue from the Zegna segment.
82GF Score
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