Key Determinants of Financial Performance and Stock Valuation

Abstract

This thesis examines the financial performance, stock market behaviour, and governance structure of Juventus Football Club between 2015 and 2024. Using time-series revenue analysis, an event study of the Cristiano Ronaldo signing, financial ratio benchmarking, and qualitative governance analysis, the study finds that despite strong commercial growth, Juventus remains structurally unprofitable burdened by a 73% wage-to-revenue ratio, a debt-to-equity ratio of 5.29×, and heavy dependence on Champions League broadcasting income. The Ronaldo signing generated short-term market excitement but long-term financial strain. Family ownership through Exor N.V. provided stability during crises but delayed necessary structural reform. The thesis concludes with seven evidence-based recommendations, including wage restructuring, a data-driven transfer strategy, debt reduction, and stronger independent governance arguing that global brand reputation alone cannot substitute for financial discipline.