LEONARDO SPA (LDO.MI) Fundamental Analysis & Valuation

BIT:LDO • IT0003856405

Current stock price

62.26 EUR
-0.38 (-0.61%)
Last:

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

6

1. LDO.MI Profitability Analysis

1.1 Basic Checks

  • In the past year LDO was profitable.
  • In the past year LDO had a positive cash flow from operations.
  • LDO had positive earnings in each of the past 5 years.
  • LDO had a positive operating cash flow in each of the past 5 years.
LDO.MI Yearly Net Income VS EBIT VS OCF VS FCFLDO.MI 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

  • LDO has a better Return On Assets (5.11%) than 73.08% of its industry peers.
  • LDO's Return On Equity of 18.45% is fine compared to the rest of the industry. LDO outperforms 67.31% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 11.79%, LDO is in the better half of the industry, outperforming 76.92% of the companies in the same industry.
  • LDO had an Average Return On Invested Capital over the past 3 years of 7.54%. This is below the industry average of 9.95%.
  • The last Return On Invested Capital (11.79%) for LDO is above the 3 year average (7.54%), which is a sign of increasing profitability.
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%
LDO.MI Yearly ROA, ROE, ROICLDO.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • LDO's Profit Margin of 6.26% is in line compared to the rest of the industry. LDO outperforms 48.08% of its industry peers.
  • LDO's Profit Margin has improved in the last couple of years.
  • LDO's Operating Margin of 7.76% is in line compared to the rest of the industry. LDO outperforms 48.08% of its industry peers.
  • In the last couple of years the Operating Margin of LDO has grown nicely.
  • With a Gross Margin value of 30.91%, LDO perfoms like the industry average, outperforming 59.62% of the companies in the same industry.
  • In the last couple of years the Gross Margin of LDO has remained more or less at the same level.
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%
LDO.MI Yearly Profit, Operating, Gross MarginsLDO.MI 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. LDO.MI Health Analysis

2.1 Basic Checks

  • LDO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for LDO remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, LDO has more shares outstanding
  • Compared to 1 year ago, LDO has an improved debt to assets ratio.
LDO.MI Yearly Shares OutstandingLDO.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
LDO.MI Yearly Total Debt VS Total AssetsLDO.MI 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

  • An Altman-Z score of 2.16 indicates that LDO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • LDO has a Altman-Z score of 2.16. This is in the lower half of the industry: LDO underperforms 61.54% of its industry peers.
  • The Debt to FCF ratio of LDO is 6.18, which is on the high side as it means it would take LDO, 6.18 years of fcf income to pay off all of its debts.
  • LDO has a Debt to FCF ratio of 6.18. This is comparable to the rest of the industry: LDO outperforms 40.38% of its industry peers.
  • A Debt/Equity ratio of 0.20 indicates that LDO is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.20, LDO belongs to the top of the industry, outperforming 80.77% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 6.18
Altman-Z 2.16
ROIC/WACC1.42
WACC8.28%
LDO.MI Yearly LT Debt VS Equity VS FCFLDO.MI 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

  • LDO has a Current Ratio of 0.97. This is a bad value and indicates that LDO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • LDO has a Current ratio of 0.97. This is in the lower half of the industry: LDO underperforms 75.00% of its industry peers.
  • A Quick Ratio of 0.62 indicates that LDO may have some problems paying its short term obligations.
  • LDO has a Quick ratio of 0.62. This is in the lower half of the industry: LDO underperforms 78.85% of its industry peers.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.62
LDO.MI Yearly Current Assets VS Current LiabilitesLDO.MI 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. LDO.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 13.39% over the past year.
  • The Earnings Per Share has been decreasing by -4.48% on average over the past years.
  • LDO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.46%.
  • Measured over the past years, LDO shows a small growth in Revenue. The Revenue has been growing by 5.20% on average per year.
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%6.54%

3.2 Future

  • Based on estimates for the next years, LDO will show a very strong growth in Earnings Per Share. The EPS will grow by 24.81% on average per year.
  • Based on estimates for the next years, LDO will show a quite strong growth in Revenue. The Revenue will grow by 9.34% on average per year.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
LDO.MI Yearly Revenue VS EstimatesLDO.MI 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
LDO.MI Yearly EPS VS EstimatesLDO.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1 2 3 4

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4

4. LDO.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • LDO is valuated quite expensively with a Price/Earnings ratio of 47.89.
  • The rest of the industry has a similar Price/Earnings ratio as LDO.
  • The average S&P500 Price/Earnings ratio is at 25.60. LDO is valued rather expensively when compared to this.
  • The Price/Forward Earnings ratio is 27.56, which means the current valuation is very expensive for LDO.
  • Based on the Price/Forward Earnings ratio, LDO is valued a bit cheaper than the industry average as 67.31% of the companies are valued more expensively.
  • LDO's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.84.
Industry RankSector Rank
PE 47.89
Fwd PE 27.56
LDO.MI Price Earnings VS Forward Price EarningsLDO.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 86.54% of the companies in the same industry are more expensive than LDO, based on the Enterprise Value to EBITDA ratio.
  • LDO's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 49.58
EV/EBITDA 12.58
LDO.MI Per share dataLDO.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • LDO's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • LDO has a very decent profitability rating, which may justify a higher PE ratio.
  • LDO's earnings are expected to grow with 27.23% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.02
PEG (5Y)N/A
EPS Next 2Y32.03%
EPS Next 3Y27.23%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. LDO.MI Dividend Analysis

5.1 Amount

  • LDO has a Yearly Dividend Yield of 1.11%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.79, LDO pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 1.11, LDO pays less dividend than the S&P500 average, which is at 1.90.
Industry RankSector Rank
Dividend Yield 1.11%

5.2 History

  • The dividend of LDO is nicely growing with an annual growth rate of 33.40%!
Dividend Growth(5Y)33.4%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 19.44% of the earnings are spent on dividend by LDO. This is a low number and sustainable payout ratio.
  • LDO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP19.44%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
LDO.MI Yearly Income VS Free CF VS DividendLDO.MI 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
LDO.MI Dividend Payout.LDO.MI Dividend Payout, showing the Payout Ratio.LDO.MI Dividend Payout.PayoutRetained Earnings

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LDO.MI Fundamentals: All Metrics, Ratios and Statistics

LEONARDO SPA

BIT:LDO (4/2/2026, 7:00:00 PM)

62.26

-0.38 (-0.61%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-25
Earnings (Next)05-06
Inst Owners27.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap36.00B
Revenue(TTM)28.19B
Net Income(TTM)1.76B
Analysts77.39
Price Target67.62 (8.61%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.11%
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)1.82%
Revenue beat(12)7
Avg Revenue beat(12)0.63%
Revenue beat(16)11
Avg Revenue beat(16)22.12%
PT rev (1m)10.65%
PT rev (3m)17.78%
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 47.89
Fwd PE 27.56
P/S 1.28
P/FCF 49.58
P/OCF 20.66
P/B 3.77
P/tB 35.5
EV/EBITDA 12.58
EPS(TTM)1.3
EY2.09%
EPS(NY)2.26
Fwd EY3.63%
FCF(TTM)1.26
FCFY2.02%
OCF(TTM)3.01
OCFY4.84%
SpS48.75
BVpS16.54
TBVpS1.75
PEG (NY)1.02
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 2.16
F-Score8
WACC8.28%
ROIC/WACC1.42
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%6.54%
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 / LDO.MI Fundamental Analysis FAQ

What is the fundamental rating for LDO stock?

ChartMill assigns a fundamental rating of 5 / 10 to LDO.MI.


What is the valuation status for LDO stock?

ChartMill assigns a valuation rating of 4 / 10 to LEONARDO SPA (LDO.MI). This can be considered as Fairly Valued.


How profitable is LEONARDO SPA (LDO.MI) stock?

LEONARDO SPA (LDO.MI) has a profitability rating of 6 / 10.


What is the financial health of LEONARDO SPA (LDO.MI) stock?

The financial health rating of LEONARDO SPA (LDO.MI) is 3 / 10.


What is the earnings growth outlook for LEONARDO SPA?

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