Shares of EssilorLuxottica fell 40% this year to €161.15, reducing its market capitalization to €73.1 billion. The decline has pushed the stock’s forward price-to-earnings ratio to 21.6x, below its trailing multiple of 29.5x, as revenue growth outpaced earnings.
Revenue rose 12% cumulatively from €25.4 billion in 2023 to €28.5 billion in 2025, but EBITDA remained flat at €5.57 billion and net income edged down to €2.31 billion from €2.36 billion. Net margins contracted by 90 basis points to 8.1% over the same period.
The stock’s dividend yield stands at 2.5%, supported by 35 consecutive years of payouts. Consensus price targets compiled by the company imply a 56% upside to €250 per share, with Bernstein’s fair-value model placing the target at €183.49, or 14% above current levels.
The company’s founder-family holding, Delfin, retains a 32.4% stake. CEO Francesco Milleri has faced criticism from Leonardo Maria Del Vecchio, the late founder’s son and chairman of the Ray-Ban brand, who resigned on August 24, citing concerns over Milleri’s management style.
A separate legal development involves a criminal complaint filed in Germany on August 12 by advocacy group HateAid against Meta, EssilorLuxottica’s Ray-Ban unit, and retailers Fielmann and Apollo-Optik. The complaint alleges violations of German digital privacy laws related to devices marketed for covert filming.
