Juventus stock tumbles to decade low on capital increase plan

The stock price of Italian football club Juventus plummeted to its lowest point in a decade on Wednesday following the release of its annual financial results and the announcement of a potential capital increase of up to €250 million ($283 million). The Turin-based club's shares plunged by 8.7%, closing at €1.58 during the trading session, signaling a significant loss of investor confidence.

Controlling shareholder Exor, the Agnelli family's holding company, pledged its support for the capital raise, with an immediate injection of €60 million. This is the fourth capital increase in the Serie A team since 2019, cumulatively amounting to €1.15 billion. The recurring capital injections indicate mounting concerns about the club's financial health and its ability to generate sustainable revenue streams.

The disappointing 2026 financial results, disclosed by Kepler Chevreux brokerage, contributed to the stock's sharp decline. The brokerage attributed the underperformance to various factors, including the €23 million acquisition of J|Hotel, a hospitality venture. Kepler Chevreux also expressed cautious optimism regarding media contracts for the upcoming 2026-27 season, outlining the uncertainty surrounding these potential income sources.

In response to the stock's performance, Kepler Chevreux opted to review its rating on Juventus, pending the reaction of the shares. The brokerage downgraded its estimates for the football club, reflecting a more measured outlook on the financial outlook, particularly concerning the media contracts for the years to come.