(LDO) Leonardo S.p.A. - Overview

Exchange: MI • Country: Italy • Currency: EUR • Type: Common Stock • ISIN: IT0003856405

Stock:

Total Rating 58

Risk 72

Buy Signal -0.44

Aerospace & Defense -3.6
Aerospace & Defense -4.3

Market Cap: 40,227m
Avg Trading Vol: 116M EUR

ATR: 3.32%
Peers RS (IBD): 45.10

Risk 5d forecast
Volatility	37.8%
Relative Tail Risk	-2.36%

Reward TTM
Sharpe Ratio	1.02
Alpha	34.49

Character TTM
Beta	0.686
Beta Downside	0.833

Drawdowns 3y
Max DD	19.98%
CAGR/Max DD	3.79

EPS (Earnings per Share)

EPS CAGR: -14.14%
EPS Trend: 18.4%

Last SUE: -0.16
Qual. Beats: 0

Revenue

Rev. CAGR: -13.49%
Rev. Trend: 14.2%

Last SUE: 0.14
Qual. Beats: 0

Description: LDO Leonardo S.p.A.

Leonardo S.p.a., an industrial and technological company, engages in the helicopters, defense electronics and security, cyber security and solutions, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States of America, and internationally. The company offers a range of helicopters for battlefield/personnel recovery, combat, maritime, training, VIP/executive transport, medical and rescue, energy, security, and utility services, as well as provides support and training services. It also provides trainers, fighters, multi-mission transport, and multi-mission surveillance aircraft; command and controls, radars and sensors, optronics, communication systems, electronic warfare, avionics, and air traffic management; defense systems comprising turrets and canons, munitions, and torpedoes; and cyber security and resilience, critical communications, digitalization, and monitoring solutions. In addition, the company offers geoinformation, satellite communications, ground systems, navigation, and satellite operations; interplanetary probes and orbiting modules; and robotics and drilling, electro-optics, laser transmitters, atomic clocks, photovoltaic panels, power distributors and amplifiers, attitude sensors, and orbital micropropulsion. Further, it engages in the production and assembly of major structural composite and metallic components for commercial and military aircraft, helicopters, and uncrewed aircraft, as well as provides systems and solutions for the automation of airport baggage handling, mail sorting centers, and courier logistics hubs. The company was formerly known as Leonardo ' Finmeccanica S.p.a. and changed its name to Leonardo S.p.a. in January 2017. Leonardo S.p.a. was founded in 1948 and is headquartered in Rome, Italy.

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income: 1.59b TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.57 > 1.0
NWC/Revenue: -1.79% < 20% (prev -4.60%; Δ 2.81% < -1%)
CFO/TA 0.03 > 3% & CFO 932.0m > Net Income 1.59b
Net Debt (1.83b) to EBITDA (2.46b): 0.74 < 3
Current Ratio: 0.97 > 1.5 & < 3
Outstanding Shares: last quarter (576.4m) vs 12m ago 0.20% < -2%
Gross Margin: 30.12% > 18% (prev 0.09%; Δ 3003 % > 0.5%)
Asset Turnover: 85.21% > 50% (prev 64.85%; Δ 20.36% > 0%)
Interest Coverage Ratio: 24.74 > 6 (EBITDA TTM 2.46b / Interest Expense TTM 80.0m)

Altman Z'' 1.40

A: -0.01 (Total Current Assets 17.76b - Total Current Liabilities 18.25b) / Total Assets 32.70b
B: 0.21 (Retained Earnings 6.75b / Total Assets 32.70b)
C: 0.06 (EBIT TTM 1.98b / Avg Total Assets 32.13b)
D: 0.39 (Book Value of Equity 9.26b / Total Liabilities 23.70b)
Altman-Z'' Score: 1.40 = BB

Beneish M -3.67

DSRI: 0.72 (Receivables 6.79b/7.05b, Revenue 27.38b/20.47b)
GMI: 0.31 (GM 30.12% / 9.40%)
AQI: 0.92 (AQ_t 0.35 / AQ_t-1 0.39)
SGI: 1.34 (Revenue 27.38b / 20.47b)
TATA: 0.02 (NI 1.59b - CFO 932.0m) / TA 32.70b)
Beneish M-Score: -3.67 (Cap -4..+1) = AAA

What is the price of LDO shares?

As of March 01, 2026, the stock is trading at EUR 56.80 with a total of 3,365,849 shares traded.
Over the past week, the price has changed by -3.60%, over one month by -1.63%, over three months by +21.08% and over the past year by +47.27%.

Is LDO a buy, sell or hold?

Leonardo S.p.A. has no consensus analysts rating.

What are the forecasts/targets for the LDO price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	59.5	4.7%
Analysts Target Price	-	-

LDO Fundamental Data Overview March 01, 2026

Market Cap USD = 40.23b (34.00b EUR * 1.1832 EUR.USD)
P/E Trailing = 29.46
P/E Forward = 19.6464
P/S = 1.7771
P/B = 3.567
P/EG = 1.4136
Revenue TTM = 27.38b EUR
EBIT TTM = 1.98b EUR
EBITDA TTM = 2.46b EUR
Long Term Debt = 1.44b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.55b EUR (from shortTermDebt, last quarter)
Debt = 2.98b EUR (Calculated: Short Term 1.55b + Long Term 1.44b)
Net Debt = 1.83b EUR (from netDebt column, last quarter)
Enterprise Value = 35.18b EUR (34.00b + Debt 2.98b - CCE 1.81b)
Interest Coverage Ratio = 24.74 (Ebit TTM 1.98b / Interest Expense TTM 80.0m)
EV/FCF = 55.22x (Enterprise Value 35.18b / FCF TTM 637.0m)
FCF Yield = 1.81% (FCF TTM 637.0m / Enterprise Value 35.18b)
FCF Margin = 2.33% (FCF TTM 637.0m / Revenue TTM 27.38b)
Net Margin = 5.80% (Net Income TTM 1.59b / Revenue TTM 27.38b)
Gross Margin = 30.12% ((Revenue TTM 27.38b - Cost of Revenue TTM 19.13b) / Revenue TTM)
Gross Margin QoQ = 10.96% (prev 36.09%)
Tobins Q-Ratio = 1.08 (Enterprise Value 35.18b / Total Assets 32.70b)
Interest Expense / Debt = 0.77% (Interest Expense 23.0m / Debt 2.98b)
Taxrate = 25.19% (65.0m / 258.0m)
NOPAT = 1.48b (EBIT 1.98b * (1 - 25.19%))
Current Ratio = 0.97 (Total Current Assets 17.76b / Total Current Liabilities 18.25b)
Debt / Equity = 0.33 (Debt 2.98b / totalStockholderEquity, last quarter 9.00b)
Debt / EBITDA = 0.74 (Net Debt 1.83b / EBITDA 2.46b)
Debt / FCF = 2.87 (Net Debt 1.83b / FCF TTM 637.0m)
Total Stockholder Equity = 8.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.95% (Net Income 1.59b / Total Assets 32.70b)
RoE = 17.77% (Net Income TTM 1.59b / Total Stockholder Equity 8.94b)
RoCE = 19.06% (EBIT 1.98b / Capital Employed (Equity 8.94b + L.T.Debt 1.44b))
RoIC = 13.62% (NOPAT 1.48b / Invested Capital 10.87b)
WACC = 7.81% (E(34.00b)/V(36.98b) * Re(8.44%) + D(2.98b)/V(36.98b) * Rd(0.77%) * (1-Tc(0.25)))
Discount Rate = 8.44% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 81.65 | Cagr: 0.00%
[DCF] Terminal Value 71.13% ; FCFF base≈699.8m ; Y1≈459.4m ; Y5≈209.6m
[DCF] Fair Price = 4.18 (EV 4.25b - Net Debt 1.83b = Equity 2.41b / Shares 576.9m; r=7.81% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 18.40 | EPS CAGR: -14.14% | SUE: -0.16 | # QB: 0
Revenue Correlation: 14.20 | Revenue CAGR: -13.49% | SUE: 0.14 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.22 | Chg7d=-0.020 | Chg30d=-0.020 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=2.25 | Chg7d=+0.000 | Chg30d=+0.008 | Revisions Net=+1 | Growth EPS=+16.1% | Growth Revenue=+8.7%

Additional Sources for LDO Stock

Fund Manager Positions: Dataroma | Stockcircle