LEONARDO SPA (FMNB.DE) Fundamental Analysis & Valuation

FRA:FMNB • IT0003856405

Current stock price

56.2 EUR
-3.19 (-5.37%)
Last:

This FMNB.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. FMNB.DE Profitability Analysis

1.1 Basic Checks

  • FMNB had positive earnings in the past year.
  • In the past year FMNB had a positive cash flow from operations.
  • FMNB had positive earnings in each of the past 5 years.
  • FMNB had a positive operating cash flow in each of the past 5 years.
FMNB.DE Yearly Net Income VS EBIT VS OCF VS FCFFMNB.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

1.2 Ratios

  • FMNB has a Return On Assets of 5.11%. This is in the better half of the industry: FMNB outperforms 73.21% of its industry peers.
  • With a decent Return On Equity value of 18.45%, FMNB is doing good in the industry, outperforming 67.86% of the companies in the same industry.
  • FMNB has a Return On Invested Capital of 11.79%. This is amongst the best in the industry. FMNB outperforms 80.36% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for FMNB is below the industry average of 9.79%.
  • The 3 year average ROIC (7.54%) for FMNB is below the current ROIC(11.79%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.11%
ROE 18.45%
ROIC 11.79%
ROA(3y)2.96%
ROA(5y)2.84%
ROE(3y)11.06%
ROE(5y)11.04%
ROIC(3y)7.54%
ROIC(5y)6.9%
FMNB.DE Yearly ROA, ROE, ROICFMNB.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • FMNB's Profit Margin of 6.26% is in line compared to the rest of the industry. FMNB outperforms 50.00% of its industry peers.
  • In the last couple of years the Profit Margin of FMNB has grown nicely.
  • FMNB's Operating Margin of 7.76% is in line compared to the rest of the industry. FMNB outperforms 48.21% of its industry peers.
  • FMNB's Operating Margin has improved in the last couple of years.
  • FMNB's Gross Margin of 30.91% is in line compared to the rest of the industry. FMNB outperforms 58.93% of its industry peers.
  • FMNB's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.76%
PM (TTM) 6.26%
GM 30.92%
OM growth 3Y8.44%
OM growth 5Y7.66%
PM growth 3Y-0.13%
PM growth 5Y28.42%
GM growth 3Y1.86%
GM growth 5Y0.39%
FMNB.DE Yearly Profit, Operating, Gross MarginsFMNB.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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3

2. FMNB.DE Health Analysis

2.1 Basic Checks

  • FMNB has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • FMNB has about the same amout of shares outstanding than it did 1 year ago.
  • FMNB has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for FMNB has been reduced compared to a year ago.
FMNB.DE Yearly Shares OutstandingFMNB.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
FMNB.DE Yearly Total Debt VS Total AssetsFMNB.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • FMNB has an Altman-Z score of 2.12. This is not the best score and indicates that FMNB is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.12, FMNB is doing worse than 62.50% of the companies in the same industry.
  • FMNB has a debt to FCF ratio of 6.18. This is a slightly negative value and a sign of low solvency as FMNB would need 6.18 years to pay back of all of its debts.
  • FMNB's Debt to FCF ratio of 6.18 is in line compared to the rest of the industry. FMNB outperforms 42.86% of its industry peers.
  • A Debt/Equity ratio of 0.20 indicates that FMNB is not too dependend on debt financing.
  • FMNB has a better Debt to Equity ratio (0.20) than 82.14% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 6.18
Altman-Z 2.12
ROIC/WACC1.43
WACC8.26%
FMNB.DE Yearly LT Debt VS Equity VS FCFFMNB.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • FMNB has a Current Ratio of 0.97. This is a bad value and indicates that FMNB is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of FMNB (0.97) is worse than 75.00% of its industry peers.
  • FMNB has a Quick Ratio of 0.97. This is a bad value and indicates that FMNB is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of FMNB (0.62) is worse than 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.62
FMNB.DE Yearly Current Assets VS Current LiabilitesFMNB.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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6

3. FMNB.DE Growth Analysis

3.1 Past

  • FMNB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.39%, which is quite good.
  • The Earnings Per Share has been decreasing by -4.48% on average over the past years.
  • The Revenue has grown by 10.46% in the past year. This is quite good.
  • FMNB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.20% yearly.
EPS 1Y (TTM)13.39%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%32.22%
Revenue 1Y (TTM)10.46%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%-38.03%

3.2 Future

  • Based on estimates for the next years, FMNB will show a very strong growth in Earnings Per Share. The EPS will grow by 24.81% on average per year.
  • The Revenue is expected to grow by 9.34% on average over the next years. This is quite good.
EPS Next Y47.03%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
EPS Next 5Y24.81%
Revenue Next Year11.31%
Revenue Next 2Y10.35%
Revenue Next 3Y9.81%
Revenue Next 5Y9.34%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
FMNB.DE Yearly Revenue VS EstimatesFMNB.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 10B 20B 30B
FMNB.DE Yearly EPS VS EstimatesFMNB.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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5

4. FMNB.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 43.23, FMNB can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, FMNB is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 26.78, FMNB is valued quite expensively.
  • A Price/Forward Earnings ratio of 24.88 indicates a rather expensive valuation of FMNB.
  • 75.00% of the companies in the same industry are more expensive than FMNB, based on the Price/Forward Earnings ratio.
  • FMNB is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.54, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 43.23
Fwd PE 24.88
FMNB.DE Price Earnings VS Forward Price EarningsFMNB.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, FMNB is valued cheaply inside the industry as 89.29% of the companies are valued more expensively.
  • FMNB's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 44.75
EV/EBITDA 12.02
FMNB.DE Per share dataFMNB.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • FMNB's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • FMNB has a very decent profitability rating, which may justify a higher PE ratio.
  • FMNB's earnings are expected to grow with 27.23% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.92
PEG (5Y)N/A
EPS Next 2Y32.03%
EPS Next 3Y27.23%

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4

5. FMNB.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.06%, FMNB has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.72, FMNB pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 1.06, FMNB pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 1.06%

5.2 History

  • On average, the dividend of FMNB grows each year by 33.40%, which is quite nice.
Dividend Growth(5Y)33.4%
Div Incr Years0
Div Non Decr Years0
FMNB.DE Yearly Dividends per shareFMNB.DE Yearly Dividends per shareYearly Dividends per share 2026 0.2 0.4 0.6

5.3 Sustainability

  • 19.44% of the earnings are spent on dividend by FMNB. This is a low number and sustainable payout ratio.
  • The dividend of FMNB is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP19.44%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
FMNB.DE Yearly Income VS Free CF VS DividendFMNB.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B
FMNB.DE Dividend Payout.FMNB.DE Dividend Payout, showing the Payout Ratio.FMNB.DE Dividend Payout.PayoutRetained Earnings

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FMNB.DE Fundamentals: All Metrics, Ratios and Statistics

LEONARDO SPA

FRA:FMNB (4/10/2026, 7:00:00 PM)

56.2

-3.19 (-5.37%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-25
Earnings (Next)05-05
Inst Owners27.75%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap32.49B
Revenue(TTM)28.19B
Net Income(TTM)1.76B
Analysts77.39
Price Target69.36 (23.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.06%
Yearly Dividend0.59
Dividend Growth(5Y)33.4%
DP19.44%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)1.48%
Min Revenue beat(2)-0.13%
Max Revenue beat(2)3.1%
Revenue beat(4)2
Avg Revenue beat(4)-2.31%
Min Revenue beat(4)-15.16%
Max Revenue beat(4)3.1%
Revenue beat(8)6
Avg Revenue beat(8)22.22%
Revenue beat(12)8
Avg Revenue beat(12)26.3%
Revenue beat(16)12
Avg Revenue beat(16)41.37%
PT rev (1m)0%
PT rev (3m)0.01%
EPS NQ rev (1m)-36.36%
EPS NQ rev (3m)-41.67%
EPS NY rev (1m)0%
EPS NY rev (3m)0.13%
Revenue NQ rev (1m)-2.69%
Revenue NQ rev (3m)-2.73%
Revenue NY rev (1m)1.29%
Revenue NY rev (3m)1.86%
Valuation
Industry RankSector Rank
PE 43.23
Fwd PE 24.88
P/S 1.15
P/FCF 44.75
P/OCF 18.65
P/B 3.4
P/tB 32.04
EV/EBITDA 12.02
EPS(TTM)1.3
EY2.31%
EPS(NY)2.26
Fwd EY4.02%
FCF(TTM)1.26
FCFY2.23%
OCF(TTM)3.01
OCFY5.36%
SpS48.75
BVpS16.54
TBVpS1.75
PEG (NY)0.92
PEG (5Y)N/A
Graham Number21.99
Profitability
Industry RankSector Rank
ROA 5.11%
ROE 18.45%
ROCE 14.66%
ROIC 11.79%
ROICexc 15.06%
ROICexgc 55.97%
OM 7.76%
PM (TTM) 6.26%
GM 30.92%
FCFM 2.58%
ROA(3y)2.96%
ROA(5y)2.84%
ROE(3y)11.06%
ROE(5y)11.04%
ROIC(3y)7.54%
ROIC(5y)6.9%
ROICexc(3y)9.32%
ROICexc(5y)8.4%
ROICexgc(3y)31.81%
ROICexgc(5y)27.31%
ROCE(3y)9.37%
ROCE(5y)8.58%
ROICexgc growth 3Y34.18%
ROICexgc growth 5Y9.17%
ROICexc growth 3Y19.84%
ROICexc growth 5Y10.04%
OM growth 3Y8.44%
OM growth 5Y7.66%
PM growth 3Y-0.13%
PM growth 5Y28.42%
GM growth 3Y1.86%
GM growth 5Y0.39%
F-Score8
Asset Turnover0.82
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 6.18
Debt/EBITDA 0.64
Cap/Depr 131.44%
Cap/Sales 3.6%
Interest Coverage 13.51
Cash Conversion 58.83%
Profit Quality 41.16%
Current Ratio 0.97
Quick Ratio 0.62
Altman-Z 2.12
F-Score8
WACC8.26%
ROIC/WACC1.43
Cap/Depr(3y)122.62%
Cap/Depr(5y)121.31%
Cap/Sales(3y)5.12%
Cap/Sales(5y)4.98%
Profit Quality(3y)60.29%
Profit Quality(5y)48.92%
High Growth Momentum
Growth
EPS 1Y (TTM)13.39%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%32.22%
EPS Next Y47.03%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
EPS Next 5Y24.81%
Revenue 1Y (TTM)10.46%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%-38.03%
Revenue Next Year11.31%
Revenue Next 2Y10.35%
Revenue Next 3Y9.81%
Revenue Next 5Y9.34%
EBIT growth 1Y26.4%
EBIT growth 3Y19.12%
EBIT growth 5Y16.03%
EBIT Next Year70.38%
EBIT Next 3Y29.01%
EBIT Next 5YN/A
FCF growth 1Y12.38%
FCF growth 3Y23.01%
FCF growth 5YN/A
OCF growth 1Y13.04%
OCF growth 3Y14.78%
OCF growth 5Y44.66%

LEONARDO SPA / FMNB.DE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for LEONARDO SPA?

ChartMill assigns a fundamental rating of 5 / 10 to FMNB.DE.


What is the valuation status for FMNB stock?

ChartMill assigns a valuation rating of 5 / 10 to LEONARDO SPA (FMNB.DE). This can be considered as Fairly Valued.


How profitable is LEONARDO SPA (FMNB.DE) stock?

LEONARDO SPA (FMNB.DE) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for FMNB stock?

The Price/Earnings (PE) ratio for LEONARDO SPA (FMNB.DE) is 43.23 and the Price/Book (PB) ratio is 3.4.


Can you provide the expected EPS growth for FMNB stock?

The Earnings per Share (EPS) of LEONARDO SPA (FMNB.DE) is expected to grow by 47.03% in the next year.