Azimut Holding SpAMIL:AZM -2.32%82 ROE % is 23.36% as of Mar. 2026, which is 27% below its 10-year median of 32.22. GuruFocus rates MIL:AZM with a GF Score™ of 82/100 and a GF Value™ of €28.53 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,612 Asset Management companies, Azimut Holding SpA ranks better than 89.02% on this metric.
The historical rank and industry rank for Azimut Holding SpA's ROE % or its related term are showing as below:
MIL:AZM'
s ROE % Range Over the Past 10 Years
Min: 20.47 Med: 32.22 Max: 59.11
Current: 26.76
During the past 13 years, Azimut Holding SpA's highest ROE % was 59.11%. The lowest was 20.47%. And the median was 32.22%.
MIL:AZM's ROE % is ranked better than 89.02% of 1612
companies
in the Asset Management industry
Industry Median: 6.395
vs MIL:AZM: 26.76
Azimut Holding SpA (MIL:AZM) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Azimut Holding SpA ROE % Related Terms
Azimut Holding SpA ROE % Historical Data
* Premium members only.
The historical data trend for Azimut Holding SpA's ROE % 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.
For the Asset Management subindustry, Azimut Holding SpA's ROE %, along with its competitors' market caps and ROE % 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.
Azimut Holding SpA ROE % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Azimut Holding SpA's ROE % distribution charts can be found below:
* The bar in red indicates where Azimut Holding SpA's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Azimut Holding SpA (MIL:AZM) has a ROE % of 23.36% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Azimut Holding SpA and its competitors. This is 27% below median its historical median of 32.22. Over the past decade, Azimut Holding SpA's ROE % has ranged from 20.47 to 59.11. According to the industry distribution chart, Azimut Holding SpA ranks #177 out of 1612 companies in the Asset Management industry, placing it in the top 11%.
Is Azimut Holding SpA's ROE % too high?
Azimut Holding SpA's current ROE % of 23.36% is 27% below median its 10-year median of 32.22. Over the past 10 years, this metric has ranged from a low of 20.47 to a high of 59.11. The Asset Management industry median ROE % is 6.40. Azimut Holding SpA's value of 23.36% is 265.3% above this industry median. Based on the distribution chart, Azimut Holding SpA ranks #177 out of 1612 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Azimut Holding SpA has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Azimut Holding SpA's ROE % compare to BLK and BX?
According to the Asset Management industry distribution chart, Azimut Holding SpA ranks #177 out of 1612 companies for ROE %. This places Azimut Holding SpA in the top 11% of its industry — outperforming the majority of peers. The industry median ROE % is 6.40. Azimut Holding SpA's value of 23.36% is 265.3% above this benchmark. Historically, Azimut Holding SpA's own ROE % has ranged from 20.47 to 59.11 over the past decade. While the company's 10-year median is 32.22 vs. the industry median of 6.40, Azimut Holding 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 ROE % for an Asset Management company?
The median ROE % among Asset Management companies is 6.40, based on 1,612 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Azimut Holding SpA's current ROE % of 23.36% is 265.3% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Azimut Holding SpA and its competitors. For the Asset Management industry, the median ROE % is 6.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azimut Holding SpA's current ROE % is 23.36%, which is 27% below median its own 10-year median of 32.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azimut Holding SpA stock overvalued right now?
Based on GuruFocus' analysis, Azimut Holding SpA (MIL:AZM) is currently considered Modestly Overvalued. The stock's GF Value™ is €28.53, compared to a current price of €35.73 — trading 25.2% above its estimated fair value. The current ROE % is 23.36%, which is 27% below median its 10-year median of 32.22 and 265.3% above the Asset Management industry median of 6.40. Azimut Holding SpA's overall GF Score™ is 82/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Azimut Holding SpA (MIL:AZM), the current ROE % is 23.36% as of Mar. 2026. 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 Azimut Holding SpA (MIL:AZM) Overvalued in 2026?
Based on GuruFocus' analysis, Azimut Holding SpA stock appears to be overvalued.
The current stock price of €35.73 is trading 25.2% above its estimated GF Value™ of €28.53.
GuruFocus considers Azimut Holding SpA to be Modestly Overvalued.
Key valuation signals for MIL:AZM:
ROE %: 23.36% (27% below median its 10-year median of 32.22)
GF Value™: €28.53 vs. price of €35.73 (25.2% above fair value)
Industry Position: 265.3% above the Asset Management median (#177 of 1612)
No single metric tells the full story. See the MIL:AZM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Azimut Holding SpA is a large independent asset management firm operating primarily in Italy but with an increasingly global presence. In Italy, its capital management division sells and manages Italian mutual funds, Italian hedge funds, and is active in the discretionary management of individual investment portfolios. Its international business operations involve the sale, management, and distribution of financial and insurance products. Its portfolio solutions encompass a broad array of strategies that cut across various traditional and alternative asset classes. A majority of its revenue is derived from recurring fees from assets under management.
82GF Score
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