Ermenegildo Zegna N.V. balance sheet

At the end of fiscal 2025, Ermenegildo Zegna N.V. had total assets of $3.33bn and shareholders' equity of $1.21bn. It held $258m in cash against $289m of debt: net debt of $30.6m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ermenegildo Zegna N.V.: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	236	388	520	272	328	227	258
Receivables	—	170	181	190	266	258	267
Inventory	—	393	383	440	578	539	595
Total current assets	—	1,515	1,567	1,375	1,424	1,248	1,397
Goodwill	472	474	481	488	633	636	650
Total assets	—	2,954	2,782	2,596	3,061	2,933	3,327
Total current liabilities	—	655	795	927	1,120	883	881
Long-term debt	—	689	534	198	125	203	190
Total debt	0	813	712	504	445	387	289
Shareholders' equity	819	736	680	726	930	948	1,210
Net debt (negative = net cash)	−236	425	191	232	118	160	31

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Ermenegildo Zegna N.V.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ermenegildo Zegna N.V.