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Ariston Holding N.V. (ARIS.MI)

EUR3.69 +0.13 (+3.71%)
IT MIL Consumer Cyclical Furnishings, Fixtures & Appliances
Address Via Broletto 44 20121
Milan, MI, IT
CEO Maurizio Brusadelli
IPO 2021-11-26
ISIN NL0015000N33

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Also trades on Frankfurt Stock Exchange · E0E.F (EUR) Italian Stock Exchange · ARIS.MI (EUR)
Description

Ariston Holding N.V. is a global enterprise specializing in the manufacturing and distribution of advanced hot water and space heating systems, catering to both commercial and residential clients. Its operations are structured across three primary segments: Thermal Comfort, Burners, and Components. The firm's extensive product range for water heating encompasses energy-efficient heat pumps, diverse gas-fired storage and instantaneous water heaters, storage cylinders, solar thermal solutions, and electric storage and instant water heating units. For space heating, offerings include modern boilers, heat pumps, integrated hybrid systems, air conditioning equipment, and smart thermostats, complemented by direct customer services and spare parts. Furthermore, it provides specialized services like domestic heat-recovery ventilation, comprehensive air handling systems, and combined heat and power (CHP) solutions. The company is also a supplier of various burners and essential system components. Its portfolio is marketed globally under a distinguished group of brands, such as Ariston, Elco, Chaffoteaux, Racold, Calorex, NTI, HTP, ATAG, Thermowatt, Cuenod, and Ecoflam. Established in 1930 and based in Milan, Italy, Ariston Holding N.V. functions as a subsidiary of Merloni Holding S.P.A.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR3.69 +0.13 (+3.71%)
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Volume Profile
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Liquidity & share structure
Average Volume
541.3K
Beta
0.96
Float Shares
55.41M
Free Float %
15.1%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.84% -2.89% -6.05% -31.55% +2.40% -16.12% -19.53% -61.06% -63.34% -63.34% -63.34%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
3.69
DCF (Unlevered) 10.07 +173.2%
DCF (Levered) 15.42 +318.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 75% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 4 0
Hold 1 0
Sell 1 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.56
Grey zone
Piotroski F-Score
8 / 9
Strong
MOAT Score
2 / 10
No MOAT
Composite Rating
A
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Furnishings, Fixtures & Appliances: +2.7%
    +1.0% Q4'25: -12.2% (vs Q4'23)
  • EPS growth Furnishings, Fixtures & Appliances: +4.0%
    +5,488.2% Q4'25: -8.3% (vs Q4'23)
  • FCF margin FCF growth · Furnishings, Fixtures & Appliances: +24.2%
    +3.4% Q4'25: +11.7% (vs Q4'23)
  • EBIT margin Furnishings, Fixtures & Appliances: +6.9%
    +6.2% Q4'25: +8.6% (vs Q4'23)
  • ROIC Furnishings, Fixtures & Appliances: +6.4%
    +8.1% Q4'25: +23.6% (vs Q4'23)
  • Share dilution Furnishings, Fixtures & Appliances: +0.1%
    -4.8% Q4'25: -9.7% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Furnishings, Fixtures & Appliances: -0.16×
    2.54× Q4'25: 0.89× (vs Q4'23)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.99) × ERP
WACC = 63% × Ke + 37% × Kd (4.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 9.99 Current price: 3.69
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
8 Rev. Ana.
6 EPS Ana.
Dec 2027
6 Rev. Ana.
5 EPS Ana.
Dec 2028
6 Rev. Ana.
4 EPS Ana.
Dec 2029
5 Rev. Ana.
2 EPS Ana.
Dec 2030
3 Rev. Ana.
2 EPS Ana.
Revenue
3.15B
est: 2.90B (+8.6%)
2.68B
est: 2.61B (+2.6%)
2.71B
est: 2.71B (-0.2%)
2.87B
2.77B – 3.01B
+5.7% YoY
3.06B
2.90B – 3.32B
+6.7% YoY
3.18B
3.16B – 3.20B
+3.9% YoY
3.28B
3.14B – 3.50B
+3.1% YoY
3.31B
3.17B – 3.54B
+0.9% YoY
EBITDA
420.80M
est: 328.79M (+28.0%)
202.30M
est: 296.23M (-31.7%)
307.40M
est: 307.47M (0.0%)
325.15M
314.43M – 341.77M
+5.7% YoY
346.80M
328.86M – 376.47M
+6.7% YoY
360.50M
358.37M – 362.62M
+3.9% YoY
371.81M
355.95M – 397.43M
+3.1% YoY
375.33M
359.32M – 401.19M
+0.9% YoY
EBIT
289.40M
est: 201.01M (+44.0%)
62.60M
est: 181.11M (-65.4%)
168.50M
est: 187.98M (-10.4%)
198.79M
192.24M – 208.95M
+5.7% YoY
212.03M
201.06M – 230.17M
+6.7% YoY
220.40M
219.10M – 221.70M
+3.9% YoY
227.32M
217.62M – 242.98M
+3.1% YoY
229.47M
219.68M – 245.28M
+0.9% YoY
Net Income
191.20M
est: 57.70M (+231.4%)
2.50M
est: 82.97M (-97.0%)
132.40M
est: 108.12M (+22.5%)
133.98M
108.51M – 164.92M
+23.9% YoY
145.69M
124.30M – 164.10M
+8.7% YoY
163.63M
141.42M – 199.12M
+12.3% YoY
178.78M
168.87M – 194.79M
+9.3% YoY
182.28M
172.18M – 198.61M
+2.0% YoY
SGA
761.20M
est: 580.81M (+31.1%)
744.10M
est: 523.30M (+42.2%)
88.70M
est: 543.15M (-83.7%)
574.38M
555.45M – 603.74M
+5.7% YoY
612.63M
580.94M – 665.04M
+6.7% YoY
636.82M
633.07M – 640.57M
+3.9% YoY
656.81M
628.80M – 702.07M
+3.1% YoY
663.02M
634.74M – 708.70M
+0.9% YoY
EPS
0.52
est: 0.16 (+234.0%)
0.01
est: 0.23 (-97.1%)
0.38
est: 0.31 (+24.2%)
0.37
0.31 – 0.47
+20.0% YoY
0.41
0.35 – 0.47
+12.2% YoY
0.47
0.40 – 0.57
+14.1% YoY
0.51
0.48 – 0.56
+8.5% YoY
0.52
0.49 – 0.57
+2.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-05-08 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-05-07 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-05-06 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-05-05 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-05-04 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-04-30 A 4/5 5/5 3/5 4/5 2/5 4/5 4/5
2026-04-29 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-28 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-27 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-24 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-23 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-22 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-21 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-20 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-17 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-16 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
240.73M
OE per share TTM
0.65
Owner's Yield
18.92%
Maintenance CapEx ratio
120.64%
Maint CapEx / Avg PPE
18.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 50 ETFs in our universe

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
16.9K
Shares Outstanding
368.09M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Maurizio Brusadelli Chief Executive Officer & Executive Director 6M male
Paolo Merloni Executive Chairman 2M male
Cosimo Corsini Chief Strategy Officer & Executive Vice President of Specialty Divisions male
Francesco Buonarroti Chief Information Officer male
Ilaria Candotti Head of Investor Relations female
Patrizia Valsesia Chief People Officer female
Pierluigi Astorino Chief Operating Officer male
Riccardo Gini Chief Financial Officer male
Albert William Pozzi Chief Marketing, Sustainability & Investor Relations Officer
Umberto G. Crovella Executive Vice President MEAR and Asia male
Carlo Andreatini Executive Vice President East & West Europe and Americas male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits