(FCT) Fincantieri SpA - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: MI (Italy) | Market Cap: 4.159m EUR | Total Return: -23.7% in 12m
Avg Turnover: 25.6M
Warnings
Altman Z'' -0.14 < 1.0 - financial distress zone
Tailwinds
Confidence
Fincantieri S.p.A. is a diversified global shipbuilder headquartered in Trieste, Italy, specializing in high-complexity maritime engineering. The company operates across four primary segments: Shipbuilding, Offshore and Specialized Vessels, Underwater, and Equipment, Systems, and Infrastructure. Its portfolio includes cruise ships, naval vessels such as aircraft carriers and submarines, and specialized offshore wind and cable-laying vessels.
The company maintains a vertically integrated business model, managing the entire lifecycle of a vessel from initial design and construction to long-term maintenance, refitting, and cyber security integration. Shipbuilding is a capital-intensive industry characterized by multi-year lead times and high barriers to entry due to the specialized technical expertise required for naval and luxury cruise segments. Fincantieri further diversifies its revenue streams by providing large-scale infrastructure solutions, including the construction of bridges, airports, and maritime works.
For a deeper look into these segments and their performance, investors may find further insights on ValueRay. Fincantieri’s strategic focus on the Underwater segment and autonomous vessel technology reflects a broader sector shift toward naval modernization and renewable energy support.
- Cruise ship order backlog recovery drives long-term revenue visibility and cash flow
- Global naval defense spending increases bolster military vessel contract awards
- High debt levels and rising interest costs impact net profit margins
- Expansion into underwater and subsea technologies diversifies high-margin revenue streams
- Raw material price volatility affects shipbuilding construction costs and project profitability
| Net Income: 156.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -4.94 > 1.0 |
| NWC/Revenue: -5.02% < 20% (prev -6.30%; Δ 1.28% < -1%) |
| CFO/TA 0.12 > 3% & CFO 1.21b > Net Income 156.1m |
| Net Debt (-383.6m) to EBITDA (864.3m): -0.44 < 3 |
| Current Ratio: 0.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (324.3m) vs 12m ago 48.63% < -2% |
| Gross Margin: 24.23% > 18% (prev 0.09%; Δ 2.41k% > 0.5%) |
| Asset Turnover: 180.3% > 50% (prev 125.2%; Δ 55.03% > 0%) |
| Interest Coverage Ratio: 8.52 > 6 (EBITDA TTM 864.3m / Interest Expense TTM 65.4m) |
| A: -0.08 (Total Current Assets 6.47b - Total Current Liabilities 7.34b) / Total Assets 10.3b |
| B: -0.03 (Retained Earnings -297.2m / Total Assets 10.3b) |
| C: 0.06 (EBIT TTM 557.1m / Avg Total Assets 9.61b) |
| D: 0.11 (Book Value of Equity 997.3m / Total Liabilities 9.36b) |
| Altman-Z'' = -0.14 = B |
| DSRI: 0.10 (Receivables 599.1m/3.69b, Revenue 17.3b/11.1b) |
| GMI: 0.36 (GM 24.23% / 8.66%) |
| AQI: 1.09 (AQ_t 0.20 / AQ_t-1 0.18) |
| SGI: 1.56 (Revenue 17.3b / 11.1b) |
| TATA: -0.10 (NI 156.1m - CFO 1.21b) / TA 10.3b) |
| Beneish M = -3.99 (Cap -4..+1) = AAA |
As of May 26, 2026, the stock is trading at EUR 11.77 with a total of 1,468,928 shares traded.
Over the past week, the price has changed by +5.66%,
over one month by -3.64%,
over three months by -18.49% and
over the past year by -23.72%.
Fincantieri SpA has no consensus analysts rating.
P/E Trailing = 32.25
P/E Forward = 21.3675
P/S = 0.4662
P/B = 4.1431
P/EG = 0.3246
Revenue TTM = 17.3b EUR
EBIT TTM = 557.1m EUR
EBITDA TTM = 864.3m EUR
Long Term Debt = 1.39b EUR (from longTermDebt, last quarter)
Short Term Debt = 774.6m EUR (from shortLongTermDebt, last quarter)
Debt = 129.5m EUR (Leases only: 129.5m)
Net Debt = -383.6m EUR (calculated: Debt 129.5m - CCE 513.2m)
Enterprise Value = 3.77b EUR (4.16b + Debt 129.5m - CCE 513.2m)
Interest Coverage Ratio = 8.52 (Ebit TTM 557.1m / Interest Expense TTM 65.4m)
EV/FCF = 18.54x (Enterprise Value 3.77b / FCF TTM 203.6m)
FCF Yield = 5.39% (FCF TTM 203.6m / Enterprise Value 3.77b)
FCF Margin = 1.18% (FCF TTM 203.6m / Revenue TTM 17.3b)
Net Margin = 0.90% (Net Income TTM 156.1m / Revenue TTM 17.3b)
Gross Margin = 24.23% ((Revenue TTM 17.3b - Cost of Revenue TTM 13.1b) / Revenue TTM)
Gross Margin QoQ = 24.95% (prev 24.25%)
Tobins Q-Ratio = 0.36 (Enterprise Value 3.77b / Total Assets 10.3b)
Interest Expense / Debt = 50.47% (Interest Expense 65.4m / Debt 129.5m)
Taxrate = 20.83% (25.0m / 120.0m)
NOPAT = 441.1m (EBIT 557.1m * (1 - 20.83%))
Current Ratio = 0.88 (Total Current Assets 6.47b / Total Current Liabilities 7.34b)
Debt / Equity = 0.13 (Debt 129.5m / totalStockholderEquity, last quarter 997.3m)
Debt / EBITDA = -0.44 (Net Debt -383.6m / EBITDA 864.3m)
Debt / FCF = -1.88 (Net Debt -383.6m / FCF TTM 203.6m)
Total Stockholder Equity = 796.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.62% (Net Income 156.1m / Total Assets 10.3b)
RoE = 19.61% (Net Income TTM 156.1m / Total Stockholder Equity 796.0m)
RoCE = 25.48% (EBIT 557.1m / Capital Employed (Equity 796.0m + L.T.Debt 1.39b))
RoIC = 14.74% (NOPAT 441.1m / Invested Capital 2.99b)
WACC = 7.30% (E(4.16b)/V(4.29b) * Re(7.53%) + (debt cost/tax rate unavailable))
Discount Rate = 7.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -2.27 | Cagr: -0.09%
[DCF] Terminal Value 73.10% ; FCFF base≈367.5m ; Y1≈322.3m ; Y5≈260.4m
[DCF] Fair Price = 12.74 (EV 4.18b - Net Debt -383.6m = Equity 4.56b / Shares 358.2m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 98.11 | Revenue CAGR: 9.62% | SUE: 0.19 | # QB: 0
EPS current Year (2026-12-31): EPS=0.48 | Chg30d=+6.05% | Revisions=+50% | GrowthEPS=+0.0% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=0.64 | Chg30d=-1.20% | Revisions=+27% | GrowthEPS=+34.6% | GrowthRev=+8.1%
[Analyst] Revisions Ratio: +50%