Ermenegildo Zegna (ZGN) Balance Sheet: Assets & Liabilities

Ermenegildo Zegna (ZGN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Ermenegildo Zegna reported total assets of EUR 2.83B and total liabilities of EUR 1.73B. Shareholders' equity was EUR 1.03B, up 12.5% from EUR 916.12M a year earlier. Total debt stood at EUR 977.46M against EUR 295.68M in cash and short-term investments, a net debt position of EUR 681.78M. That puts debt-to-equity at 0.95, compared with 0.41 a year earlier.

Ermenegildo Zegna Balance Sheet Analysis

Values in billions EUR

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Balance sheet showing assets, liabilities, and shareholders' equity for Ermenegildo Zegna N.V. (ZGN) - Annual data in billions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Mar 2024	Dec 2023	Mar 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Current Assets
Cash and Cash Equivalents	0.22	0.22	0.30	0.30	0.25	0.25	0.46	0.46	0.32	0.21	0.22
Short-Term Investments	0.08	0.08	0.09	0.03	0.32	0.03	0.34	0.03	0.35	0.38	0.54
Cash & Short-Term Investments	0.30	0.30	0.39	0.39	0.57	0.58	0.80	0.79	0.67	0.60	0.76
Accounts Receivable	0.26	0.25	0.24	0.24	0.18	0.18	0.16	0.16	0.14	0.18	0.16
Inventory	0.51	0.52	0.52	0.52	0.41	0.41	0.34	0.34	0.32	0.08	0.31
Other Current Assets	0.13	0.11	0.14	0.20	0.12	0.43	0.09	0.41	0.11	0.39	0.14
Total Current Assets	1.19	1.21	1.29	1.29	1.29	1.29	1.38	1.38	1.24	1.25	1.37
Non-Current Assets
Property, Plant & Equipment (Net)	0.86	0.79	0.69	0.69	0.50	0.50	0.48	0.48	0.60	0.73	0.77
Long-Term Investments	0.06	0.02	0.05	0.02	0.05	0.02	0.05	0.02	0.07	0.08	0.12
Goodwill	0.25	0.28	0.26	0.26	0.24	0.24	0.23	0.23	0.21	0.23	0.21
Intangible Assets	0.31	0.34	0.32	0.32	0.22	0.22	0.20	0.20	0.18	0.19	0.19
Other Non-Current Assets	0.00	0.00	0.16	0.19	0.01	0.16	0.00	0.14	0.05	0.10	0.05
Total Non-Current Assets	1.64	1.63	1.48	1.48	1.14	1.14	1.07	1.07	1.18	1.39	1.42
Total Assets	2.83	2.83	2.77	2.77	2.43	2.43	2.46	2.46	2.42	2.64	2.79
Current Liabilities
Accounts Payable	0.26	0.25	0.26	0.31	0.22	0.27	0.18	0.22	0.15	0.19	0.23
Short-Term Debt	0.23	0.18	0.41	0.02	0.40	0.04	0.26	0.03	0.20	0.22	0.25
Current Portion of Long-Term Debt	0.08	0.18	-	0.29	-	0.29	-	0.16	0.12	-	-
Accrued Liabilities	0.03	0.04	-	0.17	-	0.09	-	0.10	0.08	-	-
Deferred Revenue	0.01	0.07	0.00	0.06	0.06	0.06	0.05	0.05	0.04	0.04	0.04
Other Current Liabilities	0.26	0.03	0.30	0.26	0.15	0.16	0.15	0.18	0.09	0.09	0.10
Total Current Liabilities	0.75	0.85	1.01	1.01	0.87	0.87	0.70	0.70	0.54	0.61	0.65
Non-Current Liabilities
Long-Term Debt	0.75	0.20	0.58	0.11	0.52	0.18	0.80	0.47	0.88	0.93	1.06
Deferred Tax Liabilities	0.08	0.08	0.07	0.07	0.06	0.06	0.06	0.05	0.07	0.08	0.08
Other Non-Current Liabilities	0.16	0.00	0.20	0.27	0.25	0.31	0.25	0.31	0.00	0.00	0.21
Total Non-Current Liabilities	0.98	1.00	0.85	0.85	0.83	0.83	1.11	1.11	1.23	1.30	1.42
Total Liabilities	1.73	1.85	1.87	1.87	1.69	1.69	1.81	1.81	1.77	1.91	2.07
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00
Retained Earnings	0.74	0.67	0.64	0.64	0.53	0.55	0.50	0.50	0.89	0.94	0.94
Accumulated Other Comprehensive Income	-0.21	-0.13	-0.13	-0.16	-0.13	-0.15	-0.24	0.10	-0.30	-0.18	-0.25
Treasury Stock	0.29	0.42	-	0.44	-	0.45	-	0.46	-	-	-
Additional Paid-in Capital	0.50	0.78	0.32	0.78	0.27	0.72	0.34	0.72	-0.08	-0.34	0.00
Minority Interest	0.07	0.07	0.06	0.06	0.05	0.05	0.04	0.04	0.04	0.04	0.03
Shares Outstanding	0.27	0.25	-	0.25	-	0.24	-	0.24	-	-	-
Total Stockholders' Equity	1.03	0.92	0.84	0.90	0.68	0.73	0.60	0.64	0.60	0.69	0.69
Total Liabilities & Equity	2.83	2.83	2.77	2.77	2.43	2.43	2.46	2.46	2.42	2.64	2.79

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Ermenegildo Zegna Balance Sheet

How much debt does Ermenegildo Zegna have?

Ermenegildo Zegna had total debt of EUR 977.46M as of Dec 31, 2025, against EUR 295.68M in cash and short-term investments. Its debt-to-equity ratio was 0.95. Total debt was EUR 373.57M a year earlier.

What are Ermenegildo Zegna's total assets?

Ermenegildo Zegna reported total assets of EUR 2.83B as of Dec 31, 2025, flat from EUR 2.83B a year earlier. Total liabilities were EUR 1.73B.

What is Ermenegildo Zegna's shareholders' equity?

Ermenegildo Zegna's shareholders' equity was EUR 1.03B as of Dec 31, 2025, or about EUR 3.84 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition