Analyst Estimates

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Selected financial measures
(€ million)
FY 2024 A FY 2025 E FY 2026 E
Revenues 6,773 6,759 6,799
Year over Year Growth 1.9% -0.2% 0.6%


Adjusted EBITDA (1) 1,520 1,559 1,585
% on Revenues 22.4% 23.1% 23.3%


Adjusted EBIT (2) 1,061 1,077 1,103
% on Revenues 15.7% 15.9% 16.2%


EBIT 903 920 948


Net Income 501 506 549


Capital Expenditure 415 424 440
% on Revenues 6.1% 6.3% 6.5%


Net Financial Position 1,926 1,624 1,299
on adj. EBITDA 1.27x 1.04x 0.82x


Net Cash Flow before Dividends 534 553 561
% on Revenues 7.9% 8.2% 8.3%

The Target Price for Pirelli & C. S.p.A. is calculated by the Company as a simple average of the available target price indicated by a sample of 17 financial analysts which cover the Pirelli stock. The aforementioned sample could be edited without prior notification, and the detailed list of the analysts which authorized Pirelli to publish the recommendation is available on this page.

The Target Price is published periodically on the Pirelli website from the Investor Relations team and is provided for information purposes only. Data contained in this section is not to be interpreted as a recommendation or solicitation to buy, maintain or sell Pirelli shares.

Publication of the Target Price on the Pirelli website does not mean that the Company or its management shares the view, forecasts, recommendations or implications expressed by the brokers / analysts and therefore the Company takes no responsibility for the completeness and reliability of such data.







Selected financial measures
(€ million)
3Q 2024 A 3Q 2025 E
Revenues 1,737 1,697
Year over Year Growth 0.8% -2.3%


Adjusted EBITDA (1) 389 390
% on Revenues 22.4% 23.0%


Adjusted EBIT (2) 277 272
% on Revenues 15.9% 16.0%


EBIT 241 233


Net Income 140 133


Capital Expenditure 92 78
% on Revenues 5.3% 4.6%


Net Financial Position 2,816 2,536
on adj. EBITDA n.m. n.m.


Net Cash Flow before Dividends 162 143
% on Revenues n.m. n.m.

1. Adjusted EBITDA: calculated by adjusting EBITDA for non-recurring and restructuring expenses.
2. Adjusted EBIT: calculating by adjusting Operating profit (EBIT) for amortization of intangible assets included in PPA, non-recurring and restructuring expenses.

The consensus above (the “Consensus”) on Pirelli & C. S.p.A. is calculated by the Company as a simple average of the latest estimates (research / model) shared with Pirelli from a sample of financial analysts who cover the stock. The aforementioned sample could be edited without prior notification, and the detailed list of the analysts who authorized Pirelli to publish the recommendation is available in the present section.

Analyst Coverage data are published periodically on the Pirelli website from the Investor Relations team and are provided for information purposes only. Analyst Coverage data are not to be interpreted as a recommendation or solicitation to buy, maintain or sell Pirelli shares.

Publication of the Analyst Coverage data on the Pirelli website does not mean that the Company or its management shares the view, forecasts, recommendations or implications expressed by the brokers / analysts. The Company takes no responsibility for the completeness and reliability of the Analyst Coverage data.







Selected financial measures
(€ million)
9M 2024 A 9M 2025 E
Revenues 5,185 5,196
Year over Year Growth 0.5% 0.2%


Adjusted EBITDA (1) 1,157 1,182
% on Revenues 22.3% 22.8%


Adjusted EBIT (2) 816 830
% on Revenues 15.7% 16.0%


EBIT 708 712


Net Income 371 397


Capital Expenditure 236 206
% on Revenues 4.5% 4.0%


Net Financial Position 2,816 2,536
on adj. EBITDA n.m. n.m.


Net Cash Flow before Dividends -357 -360
% on Revenues n.m. n.m.

1. Adjusted EBITDA: calculated by adjusting EBITDA for non-recurring and restructuring expenses.
2. Adjusted EBIT: calculating by adjusting Operating profit (EBIT) for amortization of intangible assets included in PPA, non-recurring and restructuring expenses.

The consensus above (the “Consensus”) on Pirelli & C. S.p.A. is calculated by the Company as a simple average of the latest estimates (research / model) shared with Pirelli from a sample of financial analysts who cover the stock. The aforementioned sample could be edited without prior notification, and the detailed list of the analysts who authorized Pirelli to publish the recommendation is available in the present section.

Analyst Coverage data are published periodically on the Pirelli website from the Investor Relations team and are provided for information purposes only. Analyst Coverage data are not to be interpreted as a recommendation or solicitation to buy, maintain or sell Pirelli shares.

Publication of the Analyst Coverage data on the Pirelli website does not mean that the Company or its management shares the view, forecasts, recommendations or implications expressed by the brokers / analysts. The Company takes no responsibility for the completeness and reliability of the Analyst Coverage data.





Last revised: 20 Oct 2025