(LDO) Leonardo S.p.A. - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: MI (Italy) | Market Cap: 30.188m EUR | Total Return: -0.9% in 12m
Avg Turnover: 133M
EPS Trend: 70.3%
Qual. Beats: 0
Rev. Trend: 96.2%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Confidence
Leonardo S.p.A. is an Italy-based global aerospace, defense, and security company. Its operations span five primary divisions: Helicopters, Defense Electronics & Security, Aircraft, Aerostructures, and Space. The company provides a comprehensive portfolio of military and commercial platforms, including multi-mission aircraft, electronic warfare systems, and satellite communication infrastructure.
The firm operates within a highly consolidated sector where revenue is often driven by long-term government procurement cycles and multi-year maintenance contracts. As a major European defense contractor, Leonardo integrates complex hardware with proprietary cyber security and digitalization solutions to address modern hybrid threats.
For a deeper look into the companys financial health and valuation metrics, consider exploring the data available on ValueRay.
Beyond its core defense business, Leonardo produces structural components for commercial aviation and maintains a presence in the space sector through interplanetary probes and orbital robotics. The company’s diverse geographic footprint includes significant manufacturing and research hubs in the United Kingdom and the United States.
- European defense budget increases drive long-term military aircraft and electronics backlog growth
- AW249 and AW101 helicopter programs secure high-margin government procurement contracts
- Global geopolitical tensions accelerate international demand for advanced electronic warfare systems
- Aerospace structures division profitability remains sensitive to Boeing and Airbus production rates
- Joint venture performance in space and missiles significantly impacts consolidated net income
| Net Income: 1.55b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.38 > 1.0 |
| NWC/Revenue: -1.76% < 20% (prev -3.36%; Δ 1.61% < -1%) |
| CFO/TA 0.04 > 3% & CFO 1.48b > Net Income 1.55b |
| Net Debt (-888.0m) to EBITDA (2.79b): -0.32 < 3 |
| Current Ratio: 0.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (577.0m) vs 12m ago 0.10% < -2% |
| Gross Margin: 30.84% > 18% (prev 0.24%; Δ 3.06k% > 0.5%) |
| Asset Turnover: 83.53% > 50% (prev 66.37%; Δ 17.16% > 0%) |
| Interest Coverage Ratio: 28.01 > 6 (EBITDA TTM 2.79b / Interest Expense TTM 76.0m) |
| A: -0.01 (Total Current Assets 19.1b - Total Current Liabilities 19.6b) / Total Assets 34.5b |
| B: 0.20 (Retained Earnings 7.07b / Total Assets 34.5b) |
| C: 0.06 (EBIT TTM 2.13b / Avg Total Assets 34.1b) |
| D: 0.38 (Book Value of Equity 9.56b / Total Liabilities 24.9b) |
| Altman-Z'' = 1.39 = BB |
| DSRI: 0.55 (Receivables 4.40b/6.32b, Revenue 28.5b/22.3b) |
| GMI: 0.78 (GM 30.84% / 23.99%) |
| AQI: 0.93 (AQ_t 0.34 / AQ_t-1 0.37) |
| SGI: 1.27 (Revenue 28.5b / 22.3b) |
| TATA: 0.00 (NI 1.55b - CFO 1.48b) / TA 34.5b) |
| Beneish M = -3.44 (Cap -4..+1) = AA |
As of May 26, 2026, the stock is trading at EUR 52.02 with a total of 1,223,473 shares traded.
Over the past week, the price has changed by +4.20%,
over one month by -0.99%,
over three months by -8.61% and
over the past year by -0.86%.
Leonardo S.p.A. has no consensus analysts rating.
P/E Trailing = 23.4619
P/E Forward = 18.3486
P/S = 1.5253
P/B = 3.0896
P/EG = 1.3198
Revenue TTM = 28.5b EUR
EBIT TTM = 2.13b EUR
EBITDA TTM = 2.79b EUR
Long Term Debt = 1.62b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.50b EUR (from shortLongTermDebt, last fiscal year)
Debt = 605.0m EUR (Leases only: 605.0m)
Net Debt = -888.0m EUR (calculated: Debt 605.0m - CCE 1.49b)
Enterprise Value = 29.3b EUR (30.2b + Debt 605.0m - CCE 1.49b)
Interest Coverage Ratio = 28.01 (Ebit TTM 2.13b / Interest Expense TTM 76.0m)
EV/FCF = 32.45x (Enterprise Value 29.3b / FCF TTM 903.0m)
FCF Yield = 3.08% (FCF TTM 903.0m / Enterprise Value 29.3b)
FCF Margin = 3.17% (FCF TTM 903.0m / Revenue TTM 28.5b)
Net Margin = 5.44% (Net Income TTM 1.55b / Revenue TTM 28.5b)
Gross Margin = 30.84% ((Revenue TTM 28.5b - Cost of Revenue TTM 19.7b) / Revenue TTM)
Gross Margin QoQ = 9.80% (prev 43.76%)
Tobins Q-Ratio = 0.85 (Enterprise Value 29.3b / Total Assets 34.5b)
Interest Expense / Debt = 12.56% (Interest Expense 76.0m / Debt 605.0m)
Taxrate = 23.33% (56.0m / 240.0m)
NOPAT = 1.63b (EBIT 2.13b * (1 - 23.33%))
Current Ratio = 0.97 (Total Current Assets 19.1b / Total Current Liabilities 19.6b)
Debt / Equity = 0.06 (Debt 605.0m / totalStockholderEquity, last quarter 9.77b)
Debt / EBITDA = -0.32 (Net Debt -888.0m / EBITDA 2.79b)
Debt / FCF = -0.98 (Net Debt -888.0m / FCF TTM 903.0m)
Total Stockholder Equity = 9.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.54% (Net Income 1.55b / Total Assets 34.5b)
RoE = 16.45% (Net Income TTM 1.55b / Total Stockholder Equity 9.41b)
RoCE = 19.30% (EBIT 2.13b / Capital Employed (Equity 9.41b + L.T.Debt 1.62b))
RoIC = 10.99% (NOPAT 1.63b / Invested Capital 14.9b)
WACC = 6.59% (E(30.2b)/V(30.8b) * Re(6.53%) + D(605.0m)/V(30.8b) * Rd(12.56%) * (1-Tc(0.23)))
Discount Rate = 6.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 52.60 | Cagr: 0.01%
[DCF] Terminal Value 77.97% ; FCFF base≈843.4m ; Y1≈966.8m ; Y5≈1.42b
[DCF] Fair Price = 38.65 (EV 21.4b - Net Debt -888.0m = Equity 22.3b / Shares 577.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 70.30 | EPS CAGR: 23.93% | SUE: 0.25 | # QB: 0
Revenue Correlation: 96.16 | Revenue CAGR: 20.69% | SUE: -0.05 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.40 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.37 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=2.31 | Chg30d=+1.32% | Revisions=+45% | GrowthEPS=+21.8% | GrowthRev=+13.7%
EPS next Year (2027-12-31): EPS=2.80 | Chg30d=+0.47% | Revisions=+33% | GrowthEPS=+21.1% | GrowthRev=+11.0%
[Analyst] Revisions Ratio: +45%