LEVI STRAUSS & CO. vs Ermenegildo Zegna N.V., two Apparel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Levi Strauss sells mass-market denim; Ermenegildo Zegna sells Italian luxury tailoring. Levi is markedly more profitable, a 28.05% return on equity against Zegna's 9.96%, with net margins of 9.52% and 5.71%. Levi is also cheaper, 15.74 times earnings to Zegna's 31.76, though it carries debt at 0.48 while Zegna runs clean. Zegna's 8.14% free cash flow yield beats Levi's 4.9%, but Levi adds a 2.2% dividend. The market pays double the earnings multiple for Zegna's heritage; Levi offers stronger returns at a plainer price, denim against couture.
Comparison updated 2026-07-11.
| Metric | LEVI | ZGN |
|---|---|---|
| Price | $24.32 | $13.44 |
| Market cap | $9.5B | $3.5B |
| Sector | Apparel | Apparel |
| Stage | Mature | Mature |
| Implied growth (priced in) | +19.1% | — |
| P/E | 15.1 | 32.5 |
| P/B | 4.17 | 2.92 |
| P/S | 1.43 | 1.67 |
| EV/EBITDA | 12.8 | 7.8 |
| Revenue growth | +7.5% | +10.9% |
| Gross margin | 62.7% | 67.5% |
| Operating margin | 7.8% | 7.3% |
| Net margin | 9.7% | 5.7% |
| Return on equity | 28.1% | 10.0% |
| Return on assets | 9.6% | 3.9% |
| Return on invested capital | 16.4% | 9.9% |
| FCF yield | 5.9% | 8.0% |
| Dividend yield | 2.2% | — |
| Debt / equity | 0.46 | 0.00 |
| Current ratio | 1.60 | 1.59 |
| Altman Z (solvency) | 2.97 | 7.02 |
| Piotroski F (quality) | 7 / 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.