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De'Longhi S.p.A.

DLG.MI
71
Furnishings, Fixtures & Appliances · Consumer Cyclical
Exchange
Italian Stock Exchange
Winston Score
71
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Exceptional
Cash Flow
Strong
Stability
Exceptional
Valuation
Good
Dividends
Strong

Winston Score History

The full picture

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.

Growth Profile

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

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

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Quality

Profit per sale
Gross Margin
13.2%
Thin — 13.2% gross margin
Profit after running costs
Operating Margin
13.2%
Healthy — 13.2% operating margin
Return on the money invested
ROCE
20.2%
Exceptional — 20.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+52.2%
Fast-growing sales (+52.2% YoY)
Profit growth
EPS YoY
+47.4%
Earnings growing fast (+47.4% YoY)

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

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
102%
Turns 102% of profit into real cash
Spare cash per sale
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

What it owes vs what it owns
Debt / Equity
0.21
Conservative — low debt load (0.21)
Covers its interest
Interest Cover
54.12x
Comfortably covers interest (54.1x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
12.6x
no trend
Attractive valuation — P/E 12.6

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

Cheaper or dearer next year
P/E vs Forward
-4.3
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
3.05%
no trend
Moderate income — 3.05% yield

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

Dividend record
Dividend Growth
+15.9%
no trend
Dividend growing fast (15.9% YoY)

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