Balance sheetRatio

14 Italian Stock Exchange companies holding more cash than all their debt

14companies

Cash and equivalents exceed every borrowing on the balance sheet, so net debt measured against earnings is negative.

Stocks · Non-US shares · Italian Stock Exchange (MIL) · Ranked by Net debt to EBITDA in times, most cash on the balance sheet first · Rebuilt 2026-11-07 at 15:25 UTC

How this list is built

Net debt is every borrowing on the newest filed balance sheet less cash and equivalents, over EBITDA from the same year's income statement. The list is ordered by how much of the balance sheet is cash, because a near-zero EBITDA makes the ratio enormous without making the company any richer. The screen: companies listed on Italian Stock Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 109 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

14 of 14 companies

Owes less than it holds in cash, ranked by Net debt to EBITDA, most cash on the balance sheet first
#	Company	Market	Sector	Net debt to EBITDA, in times	Debt to equity, in ratio	Current ratio, in ratio	Tangible equity ratio, in ratio	Net debt to EBITDA over time	Source
1	MIL:DANRDanieli & C. Officine Meccaniche S.p.A.	MIL	Industrials	-4.5x	0.29	1.43	0.34	Net debt to EBITDA, net debt to ebitda: -3.01 on 2017-06-30 to -4.45 on 2026-06-30, down 48%.	Source n/a
2	MIL:DANDanieli & C. Officine Meccaniche S.p.A.	MIL	Industrials	-4.5x	0.29	1.43	0.34	Net debt to EBITDA, net debt to ebitda: -3.01 on 2017-06-30 to -4.45 on 2026-06-30, down 48%.	Source n/a
3	MIL:ELNEL.En. S.p.A.	MIL	Healthcare	-1.6x	0.09	3.10	0.65	Net debt to EBITDA, net debt to ebitda: -2.66 on 2016-12-31 to -1.61 on 2025-12-31, up 39%.	Source n/a
4	MIL:TGYMTechnogym S.p.A.	MIL	Consumer Cyclical	-0.7x	0.17	1.27	0.35	Net debt to EBITDA, net debt to ebitda: 0.86 on 2016-12-31 to -0.71 on 2025-12-31, down 183%.	Source n/a
5	MIL:DLGDe'Longhi S.p.A.	MIL	Consumer Cyclical	-0.8x	0.25	1.82	0.28	Net debt to EBITDA, net debt to ebitda: -1.22 on 2016-12-31 to -0.82 on 2025-12-31, up 33%.	Source n/a
6	MIL:MONCMoncler S.p.A.	MIL	Consumer Cyclical	-0.1x	0.29	2.42	0.50	Net debt to EBITDA, net debt to ebitda: -0.78 on 2017-12-31 to -0.08 on 2025-12-31, up 90%.	Source n/a
7	MIL:MAIREMaire Tecnimont S.p.A.	MIL	Industrials	-0.3x	1.75	1.14	0.02	Net debt to EBITDA, net debt to ebitda: 0.12 on 2016-12-31 to -0.25 on 2025-12-31, down 308%.	Source n/a
8	MIL:BZUBuzzi S.p.A.	MIL	Basic Materials	-0.6x	0.06	4.58	0.77	Net debt to EBITDA, net debt to ebitda: 1.13 on 2017-12-31 to -0.62 on 2025-12-31, down 155%.	Source n/a
9	MIL:BMPSBanca Monte dei Paschi di Siena S.p.A.	MIL	Financial Services	-1.6x	0.87	0.21	0.10	n/a	Source n/a
10	MIL:YACHTFerretti S.p.A.	MIL	Consumer Cyclical	-0.5x	0.06	1.33	0.46	Net debt to EBITDA, net debt to ebitda: 1.17 on 2002-08-31 to -0.54 on 2025-12-31, down 146%.	Source n/a
11	MIL:DNRIndustrie De Nora S.p.A.	MIL	Basic Materials	-0.5x	0.04	2.42	0.73	Net debt to EBITDA, net debt to ebitda: 3.89 on 2019-12-31 to -0.48 on 2025-12-31, down 112%.	Source n/a
12	MIL:BFFBFF Bank S.p.A.	MIL	Financial Services	-3.4x	0.67	0.10	0.07	Net debt to EBITDA, net debt to ebitda: 15.26 on 2016-12-31 to -3.43 on 2025-12-31, down 122%.	Source n/a
13	MIL:FBKFinecoBank Banca Fineco S.p.A.	MIL	Financial Services	-0.2x	0.65	39.02	0.07	n/a	Source n/a
14	MIL:AZMAzimut Holding S.p.A.	MIL	Financial Services	-0.5x	0.07	801.06	0.13	n/a	Source n/a

Filed figures cite the filing they come from; figures marked Market data are quotes as of the date shown. Not a recommendation and not advice.

Past figures are not a forecast. Anything we modelled is labelled as ours. You can lose money on any security.