Avio S.p.A.

BIT:AVIO Stock Report

Market Cap: €1.7b

Avio Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

Giulio Ranzo

Chief executive officer

n/a

Total compensation

CEO salary percentagen/a
CEO tenure3.2yrs
CEO ownershipn/a
Management average tenure1.4yrs
Board average tenureless than a year

Recent management updates

Recent updates

Narrative Update • Jun 05

AVIO: Successful SMILE Launch And CEO Continuity Will Drive Future Upside

Analysts have kept Avio's fair value estimate steady at €47.0, with modest tweaks to assumptions around the discount rate, revenue growth, profit margins, and future P/E that help fine-tune rather than fundamentally shift their overall view on the stock. What's in the News Avio completed the VV29 mission, successfully launching the SMILE satellite for the European Space Agency and the Chinese Academy of Sciences using its upgraded Vega C launcher, according to recent news reports.
Narrative Update • May 22

AVIO: Higher Revenue Outlook And CEO Continuity Will Support Upside

Analysts have maintained their Avio price target at €47.0. The unchanged fair value is supported by updated assumptions, including a slightly higher discount rate, a different revenue growth outlook, a modestly adjusted profit margin, and a revised future P/E expectation. What's in the News A board meeting is scheduled for April 29, 2026, to consider appointing Mr. Giulio Ranzo as chief executive officer of Avio S.p.A. with management powers, while he continues as general manager (Key Developments).
Narrative Update • Apr 29

AVIO: Improved Margins And Earnings Visibility Will Support Bullish Long Term Outlook

Analysts have maintained their €40.00 price target for Avio, citing slightly higher assumed revenue growth and profit margins. These are offset by a modestly higher future P/E multiple and a small adjustment in the discount rate.
Narrative Update • Apr 14

AVIO: Long-Term Defense And Space Upside Will Rely On Profitability Improvements

Analysts have trimmed their price target on Avio from €44.10 to €42.50 as they now assume slower revenue growth and a higher discount rate, while still factoring in slightly stronger profit margins and a much higher future P/E multiple. What's in the News Board meeting scheduled for March 12, 2026 to consider approval of the 2025 Annual Report, including draft financial statements, consolidated financial statements, and the sustainability report (company event filing).
Narrative Update • Mar 31

AVIO: Solid Rocket Focus And Defense Space Demand Will Support Upside

Analysts have cut their fair value estimate for Avio from €66.50 to €47.00, citing updated assumptions on discount rate, revenue growth, profit margins and future P/E expectations. These revisions align with recent research highlighting the company as a focused play on solid rocket propulsion with long term EBITDA growth ambitions.
Narrative Update • Mar 17

AVIO: Solid Rocket Propulsion Exposure Will Test Long Term EBITDA Ambitions

Avio's analyst price target has shifted from €34.00 to €40.00, with analysts pointing to the company's role as a focused solid rocket propulsion player and its ambition for high teens EBITDA growth, supported by opportunities in both defense and space markets. Analyst Commentary Recent commentary highlights Avio as a focused play on solid rocket propulsion, with a price target shift from €34.00 to €40.00 and a separate reference price of €39.50.
Narrative Update • Mar 03

AVIO: Solid Rocket Niche And Defense Space Demand Will Drive Upside

Analysts have lifted their price target for Avio to €39.50, citing the company’s position as a "unique play on solid rocket propulsion" and expectations for high teens EBITDA growth supported by expanding opportunities in both defense and space markets. Analyst Commentary Bullish analysts are framing Avio as a focused way to gain exposure to solid rocket propulsion across both defense and space, with the current €39.50 target reflecting confidence in that positioning.
Narrative Update • Feb 17

AVIO: Solid Rocket Propulsion Exposure Will Support Long-Term Defense And Space Upside

Narrative Update Analysts have lifted their price target for Avio to €39.50, citing the company as a unique solid rocket propulsion play with ambitions for high teens EBITDA growth, supported by expanding opportunities across both defense and space markets. Analyst Commentary Recent coverage frames Avio as a focused solid rocket propulsion business with an ambition for high teens EBITDA growth out to 2035, anchored in both defense and space demand.
Narrative Update • Feb 02

AVIO: US Solid Rocket Motor Focus Will Support Long-Term Upside

Analysts have slightly adjusted their fair value estimate for Avio to about €44.10. This reflects updated assumptions on growth, margins and long term P/E, supported in part by recent Street research highlighting the company as a focused play on solid rocket propulsion across defense and space markets.
Narrative Update • Jan 19

AVIO: Unique Solid Rocket Exposure Will Support Future US Defense Upside

Analysts have modestly revised their price expectations for Avio, pointing to a fair value of €66.50 per share, supported by its positioning as a "unique play on solid rocket propulsion" and its long term EBITDA growth ambitions in both defense and space markets. Analyst Commentary Recent research points to a constructive view on Avio, with bullish analysts highlighting both the stock's positioning and its long term growth ambitions in defense and space.
Narrative Update • Jan 05

AVIO: Future U.S. Solid Rocket Motor Facility Will Drive Upside Potential

Analysts have lifted their fair value estimate for Avio from €21.00 to €34.00, citing updated assumptions around revenue growth, profit margins, and a higher future P/E multiple as key drivers of the change. What's in the News Avio completed a follow on equity offering of ordinary shares, raising €399.867113 million through a rights issue of 19,630,197 shares at €20.37 per share (Key Developments).
Narrative Update • Dec 22

AVIO: Upcoming US Rocket Motor Facility Will Support Stronger Long Term Prospects

Analysts have significantly raised their fair value estimate for Avio from approximately $34.50 to $66.50 per share. They cite a lower perceived risk profile and slightly improved long term profitability expectations, despite moderating revenue growth forecasts.
Narrative Update • Dec 08

AVIO: US Solid Rocket Motor Expansion Will Drive Long-Term Upside

Analysts have trimmed their price target on Avio from approximately $48.83 to $44.38 per share, citing slightly softer long term revenue growth and margin expectations, along with a marginally higher discount rate. Together, these factors reduce the stock's assessed fair value.
Narrative Update • Nov 24

AVIO: US Rocket Motor Facility And Reusable Stage Will Drive Future Upside

Analysts have slightly raised their price target for Avio from $46.50 to $48.83. They cite updated estimates that reflect modestly higher fair value calculations, despite some tempered growth and margin expectations.
Narrative Update • Nov 09

AVIO: Reusable Stage Development Will Drive Major Next-Generation Growth

Analysts have raised their price target for Avio from $41.50 to $46.50. They cite improved revenue growth expectations and a lower discount rate, even though the profit margin outlook has been reduced.
Narrative Update • Oct 26

Collaborations And Stable Outlook Will Drive Expansion Plans Into Next Year

Narrative Update on Avio Analyst Price Target Analysts have maintained their price target for Avio at €41.50, indicating confidence in the company’s current outlook and that forecasts remain largely unchanged. What's in the News Avio and the European Space Agency signed a 24-month contract to advance reusable upper-stage launch systems.
Narrative Update • Oct 12

Vega C Launches And New Contracts Set To Expand Future Operations

Analysts have raised their price target for Avio from $31.13 to $41.50. They cite improved revenue growth projections and a slight increase in expected profit margin for the company.
Narrative Update • Sep 28

Vega C Launches And New Contracts Set To Expand Future Operations

Despite a reduced revenue growth forecast, Avio's future P/E multiple has risen substantially, driving an increase in the consensus analyst price target from €28.12 to €31.12. What's in the News Raytheon and Avio USA secured a purchase order of up to $26 million to advance engineering on the Mk 104 dual-thrust rocket motor for Raytheon's Standard Missile franchise, covering the Critical Design Review, procurement of materials, and production capacity expansion.
Analysis Article • Sep 20

Avio's (BIT:AVIO) Conservative Accounting Might Explain Soft Earnings

The market was pleased with the recent earnings report from Avio S.p.A. ( BIT:AVIO ), despite the profit numbers being...
Analysis Article • Sep 16

Avio's (BIT:AVIO) Returns On Capital Tell Us There Is Reason To Feel Uneasy

If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? Businesses...
Narrative Update • Sep 13

Vega C Launches And New Contracts Set To Expand Future Operations

The consensus price target for Avio has increased, primarily reflecting a slight rise in its future P/E multiple, resulting in a new fair value estimate of €28.12. What's in the News Avio S.p.A. scheduled a board meeting to review and approve additional periodic financial information as of 30 September 2025.
Analysis Article • Aug 26

Avio S.p.A. (BIT:AVIO) Stock Rockets 26% As Investors Are Less Pessimistic Than Expected

Avio S.p.A. ( BIT:AVIO ) shares have continued their recent momentum with a 26% gain in the last month alone. The...
Narrative Update • Aug 07

Vega C Launches And New Contracts Set To Expand Future Operations

The upward revision in Avio’s price target reflects increased consensus revenue growth expectations and a higher forward P/E multiple, resulting in the fair value rising from €23.75 to €26.88. Valuation Changes Summary of Valuation Changes for Avio The Consensus Analyst Price Target has significantly risen from €23.75 to €26.88.
Analysis Article • Jul 12

There's Reason For Concern Over Avio S.p.A.'s (BIT:AVIO) Massive 27% Price Jump

Despite an already strong run, Avio S.p.A. ( BIT:AVIO ) shares have been powering on, with a gain of 27% in the last...
Analysis Article • Jun 18

Avio (BIT:AVIO) Could Be Struggling To Allocate Capital

Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...
Analysis Article • May 28

These 4 Measures Indicate That Avio (BIT:AVIO) Is Using Debt Reasonably Well

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • May 04

Revenues Not Telling The Story For Avio S.p.A. (BIT:AVIO) After Shares Rise 31%

The Avio S.p.A. ( BIT:AVIO ) share price has done very well over the last month, posting an excellent gain of 31%. The...
Analysis Article • Mar 18

Earnings Miss: Avio S.p.A. Missed EPS By 16% And Analysts Are Revising Their Forecasts

It's been a good week for Avio S.p.A. ( BIT:AVIO ) shareholders, because the company has just released its latest...
Analysis Article • Mar 10

Avio S.p.A.'s (BIT:AVIO) 25% Jump Shows Its Popularity With Investors

Despite an already strong run, Avio S.p.A. ( BIT:AVIO ) shares have been powering on, with a gain of 25% in the last...
User avatar
New Narrative • Feb 21

Successful Vega C Launches And US Defense Ventures Will Expand Future Opportunities

Successful Vega C transition and U.S. defense market entry position Avio for revenue growth via expanded launch capabilities and defense contracts.
Analysis Article • Dec 20

Is Avio (BIT:AVIO) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article • Sep 19

We Think That There Are Some Issues For Avio (BIT:AVIO) Beyond Its Promising Earnings

The stock price didn't jump after Avio S.p.A. ( BIT:AVIO ) posted decent earnings last week. We did some digging and...
Analysis Article • Apr 19

Returns On Capital At Avio (BIT:AVIO) Paint A Concerning Picture

When researching a stock for investment, what can tell us that the company is in decline? More often than not, we'll...
Analysis Article • Mar 18

Results: Avio S.p.A. Exceeded Expectations And The Consensus Has Updated Its Estimates

It's been a good week for Avio S.p.A. ( BIT:AVIO ) shareholders, because the company has just released its latest...
Analysis Article • Dec 22

Avio (BIT:AVIO) Is Experiencing Growth In Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...
Analysis Article • Oct 18

We Think Avio (BIT:AVIO) Is Taking Some Risk With Its Debt

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

CEO Compensation Analysis

How has Giulio Ranzo's remuneration changed compared to Avio's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025n/an/a

€10m

Sep 30 2025n/an/a

€8m

Jun 30 2025n/an/a

€6m

Mar 31 2025n/an/a

€6m

Dec 31 2024n/an/a

€6m

Sep 30 2024n/an/a

€3m

Jun 30 2024n/an/a

€10m

Mar 31 2024n/an/a

€8m

Dec 31 2023n/an/a

€6m

Sep 30 2023n/an/a

€6m

Jun 30 2023n/an/a

€5m

Mar 31 2023n/an/a

€2m

Dec 31 2022€821k€448k

-€435k

Sep 30 2022n/an/a

€520k

Jun 30 2022n/an/a

€1m

Mar 31 2022n/an/a

€5m

Dec 31 2021€952k€448k

€8m

Sep 30 2021n/an/a

€6m

Jun 30 2021n/an/a

€3m

Mar 31 2021n/an/a

€9m

Dec 31 2020€1m€448k

€14m

Compensation vs Market: Insufficient data to establish whether Giulio's total compensation is reasonable compared to companies of similar size in the Italian market.

Compensation vs Earnings: Giulio's compensation has been consistent with company performance over the past year.

CEO

Giulio Ranzo (55 yo)

3.2yrs
Tenure
€820,507
Compensation

Dr. Giulio Ranzo, Ph D, has been Chief Executive Officer and General Manager at Avio S.p.A. since October 2, 2015 and serves as its Director. Dr. Ranzo served as a Director of Strategy, Marketing & Governm...

Leadership Team

NamePositionTenureCompensationOwnership
Giulio Ranzo
CEO, GM & Directorno data€820.51kno data
Roberto Carassai
CFO & Executive Officer of Financial Reportingless than a yearno datano data
Rosario Esposito
Chief Operating Officer2.4yrsno datano data
Nevio Quattrin
Head of Investor Relationsless than a yearno datano data
Giorgio Martellino
Chief Legal Officer10.4yrsno datano data
Stefano Bottaro
Chief Human Resources Officer1.4yrsno datano data
Angela Natale
Chief Quality Officer1.4yrsno datano data
Marco Luca
Chief Strategy Officer2.4yrsno datano data
Ettore Scardecchia
Chief Engineering Officer1.4yrsno datano data
Fabrizio Spaziani
Investors Relations Officerno datano datano data
1.4yrs
Average Tenure

Experienced Management: AVIO's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Giulio Ranzo
CEO, GM & Director3.2yrs€820.51kno data
Roberto Italia
Chairman of the Board11.1yrs€130.00kno data
Heidi Shyu
Independent Directorless than a yearno datano data
Vito Di Battista
Chairman of the Board of Statutory Auditors3.2yrsno datano data
Elena Pisonero Ruiz
Independent Director6.1yrs€60.00kno data
Stefano Ratti
Directorless than a year€18.99kno data
Silvia Muzi
Statutory Auditorless than a yearno datano data
Raffaele Cappiello
Independent Director6.1yrs€41.25kno data
Steven Wood
Independent Directorless than a yearno datano data
Stefania Tomassi
Directorless than a yearno datano data
Filippo Invitti
Statutory Auditorless than a yearno datano data
Laura Pierallini
Independent Directorless than a yearno datano data
0.4yrs
Average Tenure
58yo
Average Age

Experienced Board: AVIO's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/10 13:44
End of Day Share Price 2026/06/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Avio S.p.A. is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrea BonfaBanca Akros S.p.A. (ESN)
Benjamin HeelanBofA Global Research
Domenico GhilottiEquita SIM S.p.A.