GILDAN ACTIVEWEAR INC. vs Ermenegildo Zegna N.V., two Apparel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Gildan mass-produces blank apparel for wholesale; Ermenegildo Zegna hand-tailors Italian luxury. Gildan is the more profitable of the two, an 11.02% net margin and 11.2% return on equity against Zegna's 5.71% and 9.96%, and it is much cheaper, 20.26 times earnings against Zegna's 31.76. Both run debt-free. Their cash yields are close, Gildan at 6.18% and Zegna at 8.14%, and their book multiples nearly match, 2.27 and 2.85. The market pays extra for Zegna's name and heritage; Gildan asks less and delivers more on the income statement, minus any glamour.
Comparison updated 2026-07-11.
| Metric | GIL | ZGN |
|---|---|---|
| Price | $52.51 | $13.44 |
| Market cap | $8.0B | $3.5B |
| Sector | Apparel | Apparel |
| Stage | Mature | Mature |
| Implied growth (priced in) | +13.2% | — |
| P/E | 20.1 | 32.5 |
| P/B | 2.26 | 2.92 |
| P/S | 2.22 | 1.67 |
| EV/EBITDA | 10.1 | 7.8 |
| Revenue growth | +5.6% | +10.9% |
| Gross margin | 31.2% | 67.5% |
| Operating margin | 17.1% | 7.3% |
| Net margin | 11.0% | 5.7% |
| Return on equity | 11.2% | 10.0% |
| Return on assets | 3.8% | 3.9% |
| Return on invested capital | 14.6% | 9.9% |
| FCF yield | 6.2% | 8.0% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.11 | 1.59 |
| Altman Z (solvency) | 1.68 | 7.02 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.