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    Healthcare

  3. •

    Medical - Devices
Amplifon S.p.A.

Amplifon S.p.A.

AMP.MI
Amplifon S.p.A.IT flagItalian Stock Exchange
10.71
EUR
+0.15
- -
2.36BMarket Cap
Amplifon S.p.A.
AMP.MI
(Italian Stock Exchange)

Recent

price

10.71

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.64
3.87
3.92
3.81
4.1
4.74
5.17
5.78
6.2
7.81
6.72
8.66
9.45
10.01
10.69
10.89
10.77
Revenue per Share
0.16
0.2
0.2
0.06
0.21
0.21
0.29
0.46
0.46
0.49
0.45
0.7
0.8
0.69
0.65
0.42
0.56
Basic EPS, GAAP
0.29
0.19
0.3
0.25
0.34
0.36
0.37
0.44
0.47
1.03
1.48
1.55
1.53
1.2
1.35
1.35
1.33
Free Cash Flow per Basic Share
0.03
0.03
0.04
0.04
0.04
0.04
0.04
0.07
0.11
0.14
- -
0.22
0.26
0.29
0.29
0.3
- -
Dividend per Share
1.01
1.09
1.24
1.23
1.41
1.55
1.77
2.1
2.13
2.46
2.92
3.37
3.9
4.29
4.68
4.95
4.75
Book Value per Share
-1.76
-1.43
-1.23
-1.1
-1.04
-0.98
-1.09
-1.35
-4.21
-4
-3.76
-5.2
-5.05
-4.94
-5.43
-5.95
-5.85
Tangible Book Value per Share
195
214
216
217
217
218
219
219
220
222
224
225
224
226
225
220
224
Basic Weighted Avg Shares
708
827
847
827
891
1,034
1,133
1,266
1,362
1,732
1,503
1,948
2,119
2,260
2,409
2,396
2,412
Sales/Revenue/Turnover
9.22
11.85
11.66
8.53
10.24
11.07
11.86
11.91
11.57
10.4
11.1
12.52
12.61
11.09
10.51
8.55
9.77
Operating Margin (%)
32
44
47
48
47
52
54
63
72
193
202
222
240
268
303
315
316
Depreciation Expense
31
43
43
13
46
47
64
101
100
109
101
158
179
155
145
91
126
Net Income, GAAP
42.93
40.9
40.25
64.93
30.22
46.98
40.6
22.91
27.54
27.72
27.81
26.76
26.65
26.09
26.02
30.53
27.48
Effective Tax Rate (%)
4.32
5.16
5.1
1.55
5.22
4.53
5.61
7.94
7.37
6.27
6.72
8.1
8.42
6.86
6.03
3.81
5.21
Profit Margin (%)
8
14
-49
109
139
128
102
-234
-75
-236
170
-240
-463
-558
-445
-493
-435
Working Capital
- -
401
285
418
439
394
399
124
873
1,094
1,407
1,364
1,168
1,094
1,345
1,351
1,414
LT Debt
345
391
430
381
443
500
558
588
596
696
802
927
1,040
1,102
1,150
999
1,014
Total Equity
12.17
9.5
6.96
2.99
7.48
6.75
8.51
11.75
9.05
7.28
5.4
7.17
7.57
7.01
6.69
4.92
5.95
Return on Invested Capital (%)
31.58
13.25
8.47
3.25
8.46
7.95
9.66
13.86
9.84
7.87
5.93
7.77
8.46
7.73
7.13
4.66
6.09
Return on Capital (%)
26.65
19.93
17.3
4.81
16.22
14.51
17.48
23.67
21.64
21.44
16.85
22.39
21.89
16.83
14.37
8.52
12.22
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
382
395
418
LT Borrowings
957
964
1,041
LT Finance Leases
388
384
373
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
225
225
222
Market Capitalization
5,610
4,212
4,465

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
725
710
680
Cash, Cash Equivalents & STI
289
261
243
Accounts Receivable, Net
227
228
220
Inventories
93
99
94
Total Current Liabilities
1,170
1,142
1,115
Payables & Accruals
- -
- -
- -
ST Debt
382
395
418
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.52%
4.99%
-13.19%
Free Cash Flow
18.87%
-1.51%
-2.75%
Net Income, GAAP
10.78%
2.56%
-37.17%
Sales/Revenue/Turnover
9.39%
10.21%
-0.56%
Total Cash Common Dividend
- -
17.93%
-0.44%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
573
604
573
659
2,409
2025
588
593
649
- -
2,396
2026
580
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.23
- -
0.18
0.65
2025
0.15
0.16
0.08
- -
0.42
2026
0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.29
2025
- -
- -
- -
- -
0.3
2026
- -
- -
- -
- -
- -
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Business
Amplifon S.p.A. operates as the global leader in retail hearing care, providing personalized hearing solutions, hearing aids, and related services to help customers rediscover the emotions of sound. The company offers core products including Ampli-easy, Ampli-connect, Ampli-energy, and Ampli-mini hearing devices; the Amplifon App for real-time device management, volume control, program selection, noise reduction, and remote support; and the Ampli-care platform for audiological care experiences, alongside customized fitting services, hearing tests, and ongoing adjustments by hearing care professionals. Founded in 1950 and headquartered in Milan, Italy, Amplifon serves customers through approximately 5,150 direct points of sale, 4,000 shop-in-shops and corners, and 1,800 affiliated stores across 29 countries in Europe, the Middle East, Africa, the Americas, and Asia-Pacific, employing around 20,900 people of which many are hearing care professionals. In recent developments, Amplifon completed the acquisition of Safe in Sound Hearing, LLC and SISH Tucson, LLC in April 2025, adding 24 locations in Arizona to strengthen its direct retail network in the United States, its largest market; acquired the Kind network in Poland in March 2025, doubling its presence in the country; and pursued additional bolt-on acquisitions totaling around 250-400 clinics in 2024-2025 across France, Germany, Poland, the US, and China. The company reported 2024 revenues exceeding 2.4 billion euros, up 7% at constant exchange rates, driven by 3.4% organic growth and 3.6% from M&A, with adjusted EBITDA at 568 million euros; in the first nine months of 2025, revenues reached 1,744 million euros amid macroeconomic challenges, with ongoing Fit4Growth initiatives including selective closures of non-performing locations in the US, France, Germany, Canada, and Australia. Amplifon also secured multiple sustainability-linked credit facilities in 2025, including 175 million euros with Intesa Sanpaolo, 100 million euros with Banco BPM, 75 million euros with ING Italia, and 50 million euros with Banca Popolare di Sondrio, while launching a share buyback program up to 150 million euros and confirming Enrico Vita as CEO following the April 2025 shareholders' meeting.