Ermenegildo Zegna NV (FRA:JN0) PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:JN0 Ermenegildo Zegna NV FRA:JN0
77 GF Score
Price €10.64
GF Value €39.20
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Ermenegildo Zegna NV PB Ratio?

The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-09-21), Ermenegildo Zegna NV's share price is €10.64. Ermenegildo Zegna NV's Book Value per Share for the quarter that ended in Sep. 2021 was €-0.70. Hence, Ermenegildo Zegna NV's PB Ratio of today is .

Warning Sign:

Ermenegildo Zegna NV stock PB Ratio (=4.12) is close to 2-year high of 4.12.

The historical rank and industry rank for Ermenegildo Zegna NV's PB Ratio or its related term are showing as below:

FRA:JN0' s PB Ratio Range Over the Past 10 Years
Min: 1.74   Med: 3.27   Max: 5.41
Current: 4.45

During the past 6 years, Ermenegildo Zegna NV's highest PB Ratio was 5.41. The lowest was 1.74. And the median was 3.27.

FRA:JN0's PB Ratio is ranked worse than
88.91% of 1010 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 1.065 vs FRA:JN0: 4.45

During the past 12 months, Ermenegildo Zegna NV's average Book Value Per Share Growth Rate was -29.80% per year. During the past 3 years, the average Book Value Per Share Growth Rate was 15.00% per year. During the past 5 years, the average Book Value Per Share Growth Rate was 9.30% per year.

During the past 6 years, the highest 3-Year average Book Value Per Share Growth Rate of Ermenegildo Zegna NV was 15.00% per year. The lowest was -4.80% per year. And the median was 6.60% per year.

Back to Basics: PB Ratio


Ermenegildo Zegna NV  (FRA:JN0) PB Ratio Explanation

Unlike valuation ratios relative to the earning power such as PE Ratio, PE Ratio without NRI, PS Ratio, Price-to-Operating-Cash-Flow , or Price-to-Free-Cash-Flow, the PB Ratio measures the valuation of the stock relative to the underlying asset of the company.

The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.


Be Aware

Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.


Ermenegildo Zegna NV PB Ratio Related Terms


Ermenegildo Zegna NV PB Ratio Historical Data

* Premium members only.

The historical data trend for Ermenegildo Zegna NV's PB Ratio 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.

Ermenegildo Zegna NV PB Ratio Chart

Ermenegildo Zegna NV Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
PB Ratio
Get a 7-Day Free Trial - 3.17 2.89 2.00 2.10

Ermenegildo Zegna NV Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21
PB Ratio - - - - -

FRA:JN0 vs PVH, KTB, COLM: PB Ratio Comparison

For the Apparel Manufacturing subindustry, Ermenegildo Zegna NV's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Ermenegildo Zegna NV's PB Ratio distribution charts can be found below:

* The bar in red indicates where Ermenegildo Zegna NV's PB Ratio falls into.


FRA:JN0
77GF Score
Ermenegildo Zegna NV FRA:JN0
PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ermenegildo Zegna NV PB Ratio Calculation

The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.

Ermenegildo Zegna NV's PB Ratio for today is calculated as follows:

PB Ratio=Share Price/Book Value per Share (Q: Sep. 2021)
=10.64/-0.702
=

* 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.

It can also be calculated from the numbers for the whole company:

A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.

Is Ermenegildo Zegna NV (FRA:JN0) Overvalued in 2026?

Based on GuruFocus' analysis, Ermenegildo Zegna NV stock appears to be undervalued. The current stock price of €10.64 is trading 72.9% below its estimated GF Value™ of €39.20. GuruFocus considers Ermenegildo Zegna NV to be Significantly Undervalued.

Key valuation signals for FRA:JN0:

  • PB Ratio:
  • GF Value™: €39.20 vs. price of €10.64 (72.9% below fair value)
  • GF Score™: 77/100 with 4 warning signs

No single metric tells the full story. See the FRA:JN0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ermenegildo Zegna NV Business Description

Other Exchanges ZGN:USAJN0:Germany
Address Viale Roma 99/100, Valdilana location, Trivero, ITA, 13835
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.
77GF Score

Get the complete analysis for FRA:JN0

PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€10.64
Price
€39.20
GF Value