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Companies/Consumer Discretionary/PTRN
PTRN—59

Pattern SpA

Apparel & AccessoriesVerified
Score breakdown
Profitability+9Sentiment+30Risk penalty-3Missing signals-3
Quality breakdown
Key fields100Profile38Conclusion95AI synthesis40Observations23

Pattern SpA's capital structure is characterized by a debt-to-equity ratio of 1.36, indicating a moderate reliance on debt financing. The company's liquidity position is mixed, with a current ratio of 1.68, but net cash is negative after subtracting total debt, signaling potential liquidity constraints [doc:HA-latest]. Free cash flow is negative at -9.08 million EUR, and capital expenditures of -13.51 million EUR suggest ongoing investment in operations, though this is not being offset by positive cash generation [doc:HA-latest]. Profitability metrics are weak, with a return on equity of -8.92% and a return on assets of -2.45%, both significantly below the industry median for Apparel & Accessories. The company reported a net loss of 2.97 million EUR and an operating loss of 1.89 million EUR, indicating operational inefficiencies or declining demand [doc:HA-latest]. The company operates in a single geographic segment, Italy, and does not disclose revenue by product lines or customer segments. This lack of diversification increases exposure to local economic conditions and regulatory changes. There is no indication of revenue concentration by product or region in the available data [doc:HA-latest]. Growth trajectory is uncertain, with no specific revenue growth or decline percentages provided in the outlook. However, the negative operating and net income, combined with high capital expenditures, suggest the company is investing in future growth while currently facing profitability challenges [doc:HA-latest]. Risk factors include medium liquidity risk due to negative net cash and a high debt-to-equity ratio. Dilution risk is assessed as low, with no near-term pressure expected. Analysts have issued a mean recommendation of 2.00, indicating a neutral stance, with no strong buy ratings and two buy ratings [doc:HA-latest]. Recent events include the publication of the latest financial snapshot, which shows a net loss and negative free cash flow. No specific filings or transcripts are cited in the input data, so no further recent events are available for analysis [doc:HA-latest].

30-day price · PTRN-0.67 (-21.5%)
Low$2.40High$3.16Close$2.44As of6 May, 00:00 UTC
Profile
CompanyPattern SpA
TickerPTRN.MI
SectorConsumer Cyclicals
BusinessCyclical Consumer Products
Industry groupCyclical Consumer Products
IndustryApparel & Accessories
AI analysis

Business. Pattern SpA is an Italy-based luxury fashion company that designs, prototypes, and produces women and men apparel for global clients, operating exclusively within Italy [doc:HA-latest].

Classification. Pattern SpA is classified under the Consumer Cyclicals economic sector, Cyclical Consumer Products business sector, and Apparel & Accessories industry, with a classification confidence of 0.92 [doc:verified market data].

Pattern SpA's capital structure is characterized by a debt-to-equity ratio of 1.36, indicating a moderate reliance on debt financing. The company's liquidity position is mixed, with a current ratio of 1.68, but net cash is negative after subtracting total debt, signaling potential liquidity constraints [doc:HA-latest]. Free cash flow is negative at -9.08 million EUR, and capital expenditures of -13.51 million EUR suggest ongoing investment in operations, though this is not being offset by positive cash generation [doc:HA-latest]. Profitability metrics are weak, with a return on equity of -8.92% and a return on assets of -2.45%, both significantly below the industry median for Apparel & Accessories. The company reported a net loss of 2.97 million EUR and an operating loss of 1.89 million EUR, indicating operational inefficiencies or declining demand [doc:HA-latest]. The company operates in a single geographic segment, Italy, and does not disclose revenue by product lines or customer segments. This lack of diversification increases exposure to local economic conditions and regulatory changes. There is no indication of revenue concentration by product or region in the available data [doc:HA-latest]. Growth trajectory is uncertain, with no specific revenue growth or decline percentages provided in the outlook. However, the negative operating and net income, combined with high capital expenditures, suggest the company is investing in future growth while currently facing profitability challenges [doc:HA-latest]. Risk factors include medium liquidity risk due to negative net cash and a high debt-to-equity ratio. Dilution risk is assessed as low, with no near-term pressure expected. Analysts have issued a mean recommendation of 2.00, indicating a neutral stance, with no strong buy ratings and two buy ratings [doc:HA-latest]. Recent events include the publication of the latest financial snapshot, which shows a net loss and negative free cash flow. No specific filings or transcripts are cited in the input data, so no further recent events are available for analysis [doc:HA-latest].
Key takeaways
  • Pattern SpA is a luxury fashion company with a vertically integrated supply chain, operating exclusively in Italy.
  • The company is currently unprofitable, with a net loss and negative operating income, and is not generating positive free cash flow.
  • High debt levels and negative net cash raise concerns about liquidity and financial stability.
  • Analysts have a neutral outlook, with no strong buy ratings and a mean recommendation of 2.00.
  • The company's lack of geographic and product diversification increases its exposure to local market risks.
  • --
  • # RATIONALES
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Financial snapshot
PeriodHA-latest
CurrencyEUR
Revenue$115.4M
Gross profit$53.7M
Operating income-$1.9M
Net income-$3.0M
R&D—
SG&A—
D&A—
SBC—
Operating cash flow$6.3M
CapEx-$13.5M
Free cash flow-$9.1M
Total assets$121.5M
Total liabilities$88.2M
Total equity$33.3M
Cash & equivalents$14.9M
Long-term debt$45.3M
Annual history (last 5)
PeriodRevenueOp IncomeNet IncomeFCF
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PeriodOCFCapExFCFSBC
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Quarterly history (last 4)
PeriodRevenueOp IncomeNet IncomeFCF
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PeriodGross %Op %Net %FCF %
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PeriodAssetsEquityCashDebt
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PeriodOCFCapExFCFSBC
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Valuation
Market price—
Market cap—
Enterprise value—
P/E—
Reported non-GAAP P/E—
EV/Revenue—
EV/Op income—
EV/OCF—
P/B—
P/Tangible book—
Tangible book$33.3M
Net cash-$30.5M
Current ratio1.7
Debt/Equity1.4
ROA-2.5%
ROE-8.9%
Cash conversion-2.1%
CapEx/Revenue-11.7%
SBC/Revenue—
Asset intensity—
Dilution ratio0.0%
Risk assessment
Dilution riskLow
Liquidity riskMedium
  • Net cash is negative after subtracting total debt.
Industry benchmarks
Activity: Apparel & Accessories · cohort 2 companies
MetricPTRNActivity
Op margin-1.6%6.6% medp25 4.6% · p75 8.7%bottom quartile
Net margin-2.6%3.7% medp25 2.0% · p75 5.5%bottom quartile
Gross margin46.5%57.5% medp25 57.5% · p75 57.5%bottom quartile
CapEx / revenue-11.7%1.1% medp25 0.9% · p75 1.4%bottom quartile
Debt / equity136.0%124.3% medp25 86.1% · p75 162.6%above median
Recent coverage
Recent coverage1 article(s) mentioning PTRN.MI
2026-05-06Asia-Pacific markets open higher amid Trump's Iran warnings and peace hopesInvestors shrugged off renewed Middle East tensions as regional bourses climbed.
Observations
IR observations
Mean price target5.43 EUR
Median price target5.60 EUR
High price target5.70 EUR
Low price target5.00 EUR
Mean recommendation2.00 (1=strong buy, 5=strong sell)
Strong-buy count0.00
Buy count2.00
Hold count0.00
Sell count0.00
Strong-sell count0.00
Mean EPS estimate0.00 EUR
Mean revenue estimate117,733,330 EUR
Source data
Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.
Company fundamentalsperiod FQ-7 · history via verified-market-data
no public URL
2026-05-05 06:46 UTC#1933455f
Source: analysis-pipeline (hybrid)Generated: 2026-05-05 06:47 UTCJob: 4ac96f93