Serie A’s most transfer-efficient clubs: Where do Napoli and Juventus rank?

In Serie A, the clubs that come out on top for transfer efficiency tend to share a common thread: they have found a way to stay competitive without letting their spending run away from them.

It should not come as much of a surprise that so many of the division's heavyweights fail to lead the way here, given clubs like Napoli, Juventus and AC Milan have the financial muscle to spend heavily in the transfer market. 

Instead, Cagliari, Frosinone, Genoa and Torino feature among the clubs with the strongest ratios, having combined free transfers, loans, lower-cost deals and academy products to build their squads. Careful scouting, player development and selling at the right time can all help clubs operating with tighter budgets.

Serie A’s most and least transfer-efficient clubs

Which Serie A club is the most and least transfer-efficient?

Cagliari sit top of the rankings with an efficiency ratio of 4.79, with their squad valued at £103.7m compared with just £21.6m in transfer fees paid to assemble it.

The Sardinian side have made good use of free transfers and loans, with Andrea Belotti joining from Como as a free agent in September 2025. A mixture of academy products and lower-cost domestic recruits has also helped keep the fees paid for the squad relatively low.

At the other end of the table, Napoli sit bottom with a ratio of 0.95, with their current squad valued at £371.6m compared with £389.3m in transfer fees paid to assemble it, leaving a shortfall of almost £18m. 

The figure reflects the cost of assembling Napoli's current squad rather than their net transfer spending, with the estimated value of those players now falling below the fees paid to acquire them, though the club have made some additions without a fee, most notable being Kevin De Bruyne, who arrived from Manchester City as a free agent in the summer of 2025.

Top five most transfer-efficient clubs in Serie A

Cagliari are joined in the top five by Frosinone, Genoa and Como. Frosinone rank second with a ratio of 2.91, with their £81.2m squad costing just £27.9m in transfer fees. Their strong position reflects a squad assembled at a relatively modest cost, with their recruitment including loans and lower-cost deals alongside a number of more significant investments.

Genoa are third with an efficiency ratio of 2.20, with their current squad valued at £145.2m compared with £66m in transfer fees. The club have mixed permanent signings with loans and lower-cost recruitment, helping keep the acquisition cost of their current squad below its estimated market value.

Como sit fourth with a ratio of 2.03, despite having one of Serie A's biggest transfer budgets under Indonesian ownership. Their £459.8m squad has been assembled for £227m in fees, with the rise in Nico Paz's value providing one example of how investment in players can boost the overall value of a squad. Como also enjoyed a highly successful 2025-26 campaign, finishing fourth in Serie A and securing Champions League football.

Torino complete the top five with a ratio of 2.02, with their £152.2m squad costing £75.2m in transfer fees. Their position is consistent with a recruitment model that has often focused on developing players and keeping acquisition costs below the eventual value of the squad.

Top five least transfer-efficient clubs in Serie A

Napoli are joined in the bottom five by AC Milan, Juventus, Atalanta and Lazio. Milan have an efficiency ratio of 1.11, with their £407.6m squad costing £366.8m in transfer fees. The Rossoneri were among Serie A's biggest spenders in summer 2025, committing more than €150m to new arrivals, including Adrien Rabiot from Marseille.

Juventus are slightly ahead of their rivals on 1.12, with a £531.6m squad assembled for £474.3m. The Bianconeri have continued to invest heavily in their squad, making the permanent signing of Kolo Muani from Paris Saint-Germain and bringing in Kerim Alajbegovic from Bayer Leverkusen this summer.

Atalanta sit on 1.53, with their £374.7m squad costing £244.8m in transfer fees. The Bergamo club spent more than €125m on arrivals last summer before selling Mateo Retegui to Al-Qadsiah for around €65m after just one season.

Lazio complete the bottom five with a ratio of 1.54, with their squad valued at £209.5m against £135.7m in purchase fees. The club have also generated a reported net profit of around €24m from their summer transfer business, with Mario Gila and Alessio Romagnoli among the players to leave.