De'Longhi S.p.A.

DLG.MI

Furnishings, Fixtures & Appliances · Consumer Cyclical

Price

€41.10

-0.20 (-0.48%)

Market Cap

€6.11B

Exchange

Italian Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−1.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 152.9M (2021) → 151.3M (2025)

De'Longhi is an Italian company that makes small home appliances, most famously high-end coffee machines. Its product lineup includes espresso makers, bean-to-cup machines, air conditioners, and kitchen tools sold under brands like De'Longhi, Kenwood, and Braun. The company sells to everyday consumers who want premium home appliances, and it is one of the largest dedicated small-appliance makers in Europe.

De'Longhi earns money by selling hardware — physical products through retail stores and online channels across Europe, North America, and Asia. Europe is its biggest market, but it has been growing in the Americas and Asia-Pacific. Its competitive edge comes from strong brand recognition in the premium coffee segment and a wide portfolio of owned brands. The main risk is that consumers tend to cut back on expensive appliances during economic downturns, making De'Longhi's sales sensitive to consumer confidence and discretionary spending trends.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+103.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+138.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

54.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

$941M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$941M cash & investments at current burn rate

Revenue accelerating

De'Longhi S.p.A. grew revenue 103% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

13.2%

Thin — 13.2% gross margin

Operating Margin

13.2%

Healthy — 13.2% operating margin

ROCE

8.0%

Weak — 8.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+52.2%

Fast-growing sales (+52.2% YoY)

EPS YoY

+47.4%

Earnings growing fast (+47.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

102%

Turns 102% of profit into real cash

FCF Margin

7.6%

Modest free cash flow (7.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.21

Conservative — low debt load (0.21)

Interest Cover

54.12x

Comfortably covers interest (54.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

13.1x

Attractive valuation — P/E 13.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-3.8

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

3.05%

Moderate income — 3.05% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+15.9%

Dividend growing fast (15.9% YoY)

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