Wealth Management And Digital Tools Will Create Future Opportunities

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

25 Dec 24

Updated

27 Nov 25

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

44.3%

7D

-2.3%

Loading

1Y

44.3%

7D

-2.3%

You can edit this narrative until Nov 28 9:10 AM. Then, changes will post as Updates.

Author's Valuation

€36.344.1% undervalued

AnalystConsensusTarget Fair Value

Shared on 27 Nov 25

Fair value Decreased 1.13%

AZM: Upcoming Share Buybacks And Higher Profits Will Balance Elevated Discount Rate

Analysts have slightly lowered their fair value estimate for Azimut Holding from €36.76 to €36.34, citing recent adjustments to the discount rate and projected valuation multiples. What's in the News Azimut Holding S.p.A. has commenced a share repurchase program, with authorization to buy back up to 14,000,000 shares, representing 9.77% of its issued share capital, at unit prices between the book value and €40.

Shared on 10 Nov 25

Fair value Increased 6.94%

AZM: Future Profit Margin Improvements Will Offset Slower Revenue Expansion

Azimut Holding’s analyst price target has been increased from €34.37 to €36.76, as analysts cite improved profit margin forecasts, which offset slightly lower expectations for revenue growth. Valuation Changes The Fair Value estimate has increased from €34.37 to €36.76, reflecting a modest improvement.

Shared on 27 Oct 25

Fair value Increased 5.02%

Azimut Holding's analyst price target has been raised from €32.73 to €34.37, as analysts cite improved revenue growth and profit margin forecasts, which support the higher valuation. Valuation Changes The Fair Value estimate has increased from €32.73 to €34.37, reflecting a higher overall valuation.

Shared on 13 Oct 25

Fair value Increased 1.78%

Analysts have slightly raised their price target for Azimut Holding from €32.16 to €32.73, supported by modest improvements in model assumptions for fair value and discount rate. Valuation Changes Fair Value: increased slightly from €32.16 to €32.73 Discount Rate: decreased marginally from 10.91% to 10.88% Revenue Growth: unchanged at approximately 1.83% Net Profit Margin: unchanged at roughly 34.45% Future P/E: increased modestly from 12.09x to 12.29x

Shared on 18 Sep 25

Fair value Increased 3.54%

The upward revision in Azimut Holding’s price target reflects improved revenue growth forecasts despite a marginal decline in net profit margin, resulting in a new consensus fair value of €32.16. Valuation Changes Summary of Valuation Changes for Azimut Holding The Consensus Analyst Price Target has risen slightly from €31.06 to €32.16.

Shared on 01 May 25

Fair value Increased 22%

Shared on 02 Apr 25

Fair value Increased 0.31%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Increased 0.32%

AnalystConsensusTarget has increased profit margin from 30.7% to 33.8%.

Shared on 19 Mar 25

Fair value Increased 0.40%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 12 Mar 25

Fair value Decreased 15%

AnalystConsensusTarget has increased revenue growth from -0.3% to 1.1%, decreased profit margin from 38.1% to 30.7%, increased future PE multiple from 10.2x to 11.5x and increased shares outstanding growth rate from 0.0% to 0.0%.

AnalystConsensusTarget Fair Value

€36.34

4.1% undervalued

Future estimation in

% p.a.

0

Decrease

Increase

Current revenue growth rate

3.40%

Capital Markets revenue growth rate

0.25%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

13.55%

Calculation

€573.53m

Earnings '28

x

13.25x

PE Ratio '28

=

€7.60b

Market Cap '28

€7.60b

Market Cap '28

/

143.83m

No. shares '28

=

€52.84

Share Price '28

€52.84 Share Price '28

Discounted to 2025 @ 13.51% p.a.

=

€36.13

Fair Value '25