# Davide Campari-Milano N.V (DVDCF.US)

Canonical: https://gigainvestors.com/s/DVDCF

Analysis as of: 2026-10-16T07:28:08.115Z. 

Listing currency: USD. Reporting currency: EUR.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $7.15 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Thomas Russo](https://gigainvestors.com/GR): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 51% since Nov 2021 · "Aperol Maker Campari’s Sales Miss Expectations Amid Tariff Threats" (finance.yahoo.com, May 2025)

Story as of 2026-10-16T09:58:39.851Z; price observation 2026-10-15.

- 2025-05-08: Aperol Maker Campari’s Sales Miss Expectations Amid Tariff Threats ([finance.yahoo.com](https://finance.yahoo.com/m/5ceef8f3-6342-3bd6-8f7a-5eb67a72de26/aperol-maker-campari%E2%80%99s-sales.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in beverages wineries & distilleries; annual sales are EUR 3.1 billion.

- Source: https://filings.xbrl.org/213800ED5AN2J56N6Z02/2025-12-31/ESEF/NL/0/davidecamparimilano-2025-12-31-0-en/reports/davidecamparimilano-2025-12-31-0-en.xhtml#reviewed-original-annual-table (filed 2026-03-10); FY2025: revenue 3051200000; grossProfit 1840100000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 57.6% to 60.3% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); FY2023: grossProfit / revenue = 58.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); FY2024: grossProfit / revenue = 57.6%.

- Source: https://filings.xbrl.org/213800ED5AN2J56N6Z02/2025-12-31/ESEF/NL/0/davidecamparimilano-2025-12-31-0-en/reports/davidecamparimilano-2025-12-31-0-en.xhtml (filed 2026-03-10); FY2025: grossProfit / revenue = 60.3%.

### Where the cash goes

Paid dividends in 4 of 4 years; bought back EUR 33.7 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); FY2022: growth capex 0; upkeep 355300000; owner earnings 68200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); FY2023: growth capex 72427040.4728266; upkeep 242872959.5271734; owner earnings 197827040.4728266. Growth capex / owner earnings = 0.3661129454280803.

- Source: https://filings.xbrl.org/213800ED5AN2J56N6Z02/2025-12-31/ESEF/NL/0/davidecamparimilano-2025-12-31-0-en/reports/davidecamparimilano-2025-12-31-0-en.xhtml (filed 2026-03-10); FY2025: growth capex 0; upkeep 299300000; owner earnings 195300000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); Dividend observations: [[2022,67600000],[2023,67500000],[2024,78100000],[2025,78000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://filings.xbrl.org/213800ED5AN2J56N6Z02/2025-12-31/ESEF/NL/0/davidecamparimilano-2025-12-31-0-en/reports/davidecamparimilano-2025-12-31-0-en.xhtml (filed 2026-03-10); FY2025: cash repurchases 33700000 EUR.

### Are managers owners

Insiders own 50.7% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); DVDCF.US SharesStats.PercentInsiders = 50.663000000000004 percentage points; cache date 2026-10-16.

### What the price says

The price is 2.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-10); Closing price 7.15 USD; reporting-to-trading FX 1.12128; FY2025 annual sales per share 2.423126700518326; price multiple 2.63157555086622. FY2025 cash earnings/share 0.15509853323650663. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $10.25 per share

- 2016-11: $9.50 per share

- 2016-12: $9.61 per share

- 2017-01: $10.20 per share

- 2017-02: $10.44 per share

- 2017-03: $11.29 per share

- 2017-04: $12.01 per share

- 2017-05: $7.10 per share

- 2017-06: $7.17 per share

- 2017-07: $7.30 per share

- 2017-08: $7.07 per share

- 2017-09: $7.28 per share

- 2017-10: $7.97 per share

- 2017-11: $7.59 per share

- 2017-12: $7.60 per share

- 2018-01: $7.96 per share

- 2018-02: $7.11 per share

- 2018-03: $7.59 per share

- 2018-04: $7.50 per share

- 2018-05: $7.24 per share

- 2018-06: $7.90 per share

- 2018-07: $8.50 per share

- 2018-08: $8.86 per share

- 2018-09: $8.55 per share

- 2018-10: $7.50 per share

- 2018-11: $8.44 per share

- 2018-12: $8.72 per share

- 2019-01: $8.80 per share

- 2019-02: $9.35 per share

- 2019-03: $9.93 per share

- 2019-04: $10.06 per share

- 2019-05: $9.63 per share

- 2019-06: $9.87 per share

- 2019-07: $9.49 per share

- 2019-08: $8.70 per share

- 2019-09: $8.94 per share

- 2019-10: $9.16 per share

- 2019-11: $9.13 per share

- 2019-12: $9.08 per share

- 2020-01: $9.83 per share

- 2020-02: $8.31 per share

- 2020-03: $6.85 per share

- 2020-04: $7.70 per share

- 2020-05: $7.98 per share

- 2020-06: $8.48 per share

- 2020-07: $10.03 per share

- 2020-08: $10.25 per share

- 2020-09: $10.91 per share

- 2020-10: $10.50 per share

- 2020-11: $11.41 per share

- 2020-12: $11.60 per share

- 2021-01: $10.83 per share

- 2021-02: $11.94 per share

- 2021-03: $11.04 per share

- 2021-04: $11.85 per share

- 2021-05: $12.79 per share

- 2021-06: $13.50 per share

- 2021-07: $14.10 per share

- 2021-08: $13.73 per share

- 2021-09: $14.16 per share

- 2021-10: $14.48 per share

- 2021-11: $14.71 per share

- 2021-12: $14.55 per share

- 2022-01: $12.30 per share

- 2022-02: $10.90 per share

- 2022-03: $11.40 per share

- 2022-04: $11.74 per share

- 2022-05: $10.84 per share

- 2022-06: $10.75 per share

- 2022-07: $10.79 per share

- 2022-08: $10.50 per share

- 2022-09: $8.60 per share

- 2022-10: $9.47 per share

- 2022-11: $10.90 per share

- 2022-12: $10.30 per share

- 2023-01: $11.07 per share

- 2023-02: $11.01 per share

- 2023-03: $12.00 per share

- 2023-04: $12.99 per share

- 2023-05: $13.00 per share

- 2023-06: $13.59 per share

- 2023-07: $13.48 per share

- 2023-08: $12.78 per share

- 2023-09: $11.93 per share

- 2023-10: $11.06 per share

- 2023-11: $11.20 per share

- 2023-12: $11.00 per share

- 2024-01: $10.35 per share

- 2024-02: $10.25 per share

- 2024-03: $10.25 per share

- 2024-04: $10.50 per share

- 2024-05: $9.60 per share

- 2024-06: $9.51 per share

- 2024-07: $9.22 per share

- 2024-08: $9.30 per share

- 2024-09: $8.53 per share

- 2024-10: $6.75 per share

- 2024-11: $5.93 per share

- 2024-12: $6.24 per share

- 2025-01: $5.85 per share

- 2025-02: $5.94 per share

- 2025-03: $5.93 per share

- 2025-04: $6.30 per share

- 2025-05: $6.50 per share

- 2025-06: $6.60 per share

- 2025-07: $7.06 per share

- 2025-08: $7.50 per share

- 2025-09: $6.47 per share

- 2025-10: $6.75 per share

- 2025-11: $6.30 per share

- 2025-12: $6.55 per share

- 2026-01: $7.22 per share

- 2026-02: $7.72 per share

- 2026-03: $7.00 per share

- 2026-04: $7.25 per share

- 2026-05: $6.49 per share

- 2026-06: $6.11 per share

- 2026-07: $6.79 per share

- 2026-08: $6.55 per share

- 2026-09: $6.88 per share

- 2026-10: $6.88 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original ESEF filing](https://filings.xbrl.org/213800ED5AN2J56N6Z02/2025-12-31/ESEF/NL/0/davidecamparimilano-2025-12-31-0-en/reports/davidecamparimilano-2025-12-31-0-en.xhtml); period 2025-12-31, filed 2026-03-10.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Thomas Russo](https://gigainvestors.com/GR): 195,048 DVDCF shares; USD 1,215,000 reported position value; 0.01% of portfolio; reduce; quarter 2026 Q2.

# DVDCF — Davide Campari-Milano S.p.A.

Held by 1 investor · USD 1,215,000 total · 2026 Q2 · reported price USD 6.23 (split-adjusted).
Page: https://gigainvestors.com/s/DVDCF

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Thomas Russo (https://gigainvestors.com/GR) | USD 1,215,000 | <0.1% | reduce -3.45% |

## Total held by quarter

- 2017 Q4: USD 13,998 · 1 holder · USD 7.67
- 2018 Q1: USD 0 · 0 holders
- 2018 Q2: USD 0 · 0 holders
- 2018 Q3: USD 0 · 0 holders
- 2018 Q4: USD 0 · 0 holders
- 2019 Q1: USD 130,011 · 1 holder · USD 9.79
- 2019 Q2: USD 275,072 · 1 holder · USD 9.81
- 2019 Q3: USD 489,064 · 1 holder · USD 9.04
- 2019 Q4: USD 599,767 · 1 holder · USD 9.14
- 2020 Q1: USD 2,477,782 · 1 holder · USD 7.19
- 2020 Q2: USD 7,325,821 · 1 holder · USD 8.42
- 2020 Q3: USD 9,588,517 · 1 holder · USD 10.93
- 2020 Q4: USD 10,734,896 · 1 holder · USD 11.43
- 2021 Q1: USD 10,159,905 · 1 holder · USD 11.23
- 2021 Q2: USD 11,964,782 · 1 holder · USD 13.39
- 2021 Q3: USD 12,579,663 · 1 holder · USD 14.12
- 2021 Q4: USD 12,848,582 · 1 holder · USD 14.62
- 2022 Q1: USD 10,345,488 · 1 holder · USD 11.74
- 2022 Q2: USD 8,628,109 · 1 holder · USD 10.49
- 2022 Q3: USD 7,264,492 · 1 holder · USD 8.93
- 2022 Q4: USD 8,224,301 · 1 holder · USD 10.12
- 2023 Q1: USD 9,963,675 · 1 holder · USD 12.22
- 2023 Q2: USD 11,198,954 · 1 holder · USD 13.84
- 2023 Q3: USD 9,519,863 · 1 holder · USD 11.82
- 2023 Q4: USD 8,701,595 · 1 holder · USD 11.28
- 2024 Q1: USD 6,454,959 · 1 holder · USD 10.06
- 2024 Q2: USD 6,405,621 · 1 holder · USD 9.46
- 2024 Q3: USD 5,964,637 · 1 holder · USD 8.48
- 2024 Q4: USD 3,610,478 · 1 holder · USD 6.23
- 2025 Q1: USD 1,375,633 · 1 holder · USD 5.85
- 2025 Q2: USD 1,570,433 · 1 holder · USD 6.70
- 2025 Q3: USD 1,327,327 · 1 holder · USD 6.31
- 2025 Q4: USD 1,576,091 · 1 holder · USD 6.51
- 2026 Q1: USD 1,426,212 · 1 holder · USD 7.06
- 2026 Q2: USD 1,215,000 · 1 holder · USD 6.23