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LEONARDO SPA (LDO.MI) Stock Fundamental Analysis

Europe - BIT:LDO - IT0003856405 - Common Stock

50.52 EUR
-0.58 (-1.14%)
Last: 10/30/2025, 5:36:15 PM
Fundamental Rating

5

Overall LDO gets a fundamental rating of 5 out of 10. We evaluated LDO against 45 industry peers in the Aerospace & Defense industry. There are concerns on the financial health of LDO while its profitability can be described as average. LDO is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

LDO had positive earnings in the past year.
LDO had positive earnings in each of the past 5 years.
Each year in the past 5 years LDO had a positive operating cash flow.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

1.2 Ratios

Looking at the Return On Assets, with a value of 4.83%, LDO is in the better half of the industry, outperforming 62.22% of the companies in the same industry.
LDO has a Return On Equity of 17.55%. This is comparable to the rest of the industry: LDO outperforms 60.00% of its industry peers.
LDO has a Return On Invested Capital of 11.56%. This is in the better half of the industry: LDO outperforms 73.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for LDO is below the industry average of 9.43%.
The 3 year average ROIC (6.61%) for LDO is below the current ROIC(11.56%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.83%
ROE 17.55%
ROIC 11.56%
ROA(3y)2.86%
ROA(5y)2.31%
ROE(3y)11.1%
ROE(5y)9.4%
ROIC(3y)6.61%
ROIC(5y)6.35%
LDO.MI Yearly ROA, ROE, ROICLDO.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

Looking at the Profit Margin, with a value of 5.86%, LDO is in line with its industry, outperforming 48.89% of the companies in the same industry.
LDO's Profit Margin has been stable in the last couple of years.
LDO has a Operating Margin (7.54%) which is in line with its industry peers.
In the last couple of years the Operating Margin of LDO has remained more or less at the same level.
LDO's Gross Margin of 30.33% is in line compared to the rest of the industry. LDO outperforms 48.89% of its industry peers.
In the last couple of years the Gross Margin of LDO has remained more or less at the same level.
Industry RankSector Rank
OM 7.54%
PM (TTM) 5.86%
GM 30.33%
OM growth 3Y4.63%
OM growth 5Y-1.19%
PM growth 3Y13.4%
PM growth 5Y0.3%
GM growth 3Y1.05%
GM growth 5Y-0.43%
LDO.MI Yearly Profit, Operating, Gross MarginsLDO.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so LDO is still creating some value.
The number of shares outstanding for LDO remains at a similar level compared to 1 year ago.
LDO has more shares outstanding than it did 5 years ago.
LDO has a better debt/assets ratio than last year.
LDO.MI Yearly Shares OutstandingLDO.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

LDO has an Altman-Z score of 2.05. This is not the best score and indicates that LDO is in the grey zone with still only limited risk for bankruptcy at the moment.
LDO has a Altman-Z score of 2.05. This is in the lower half of the industry: LDO underperforms 66.67% of its industry peers.
LDO has a Debt/Equity ratio of 0.22. This is a healthy value indicating a solid balance between debt and equity.
With an excellent Debt to Equity ratio value of 0.22, LDO belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF N/A
Altman-Z 2.05
ROIC/WACC1.48
WACC7.79%
LDO.MI Yearly LT Debt VS Equity VS FCFLDO.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

2.3 Liquidity

A Current Ratio of 0.97 indicates that LDO may have some problems paying its short term obligations.
With a Current ratio value of 0.97, LDO is not doing good in the industry: 82.22% of the companies in the same industry are doing better.
A Quick Ratio of 0.59 indicates that LDO may have some problems paying its short term obligations.
LDO has a Quick ratio of 0.59. This is in the lower half of the industry: LDO underperforms 71.11% of its industry peers.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.59
LDO.MI Yearly Current Assets VS Current LiabilitesLDO.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

6

3. Growth

3.1 Past

LDO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 32.76%, which is quite impressive.
Measured over the past years, LDO shows a decrease in Earnings Per Share. The EPS has been decreasing by -4.48% on average per year.
Looking at the last year, LDO shows a quite strong growth in Revenue. The Revenue has grown by 15.05% in the last year.
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)32.76%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%97.08%
Revenue 1Y (TTM)15.05%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%10.16%

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 23.32% 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 9.16% on average per year.
EPS Next Y41.07%
EPS Next 2Y28.91%
EPS Next 3Y25.06%
EPS Next 5Y23.32%
Revenue Next Year8.8%
Revenue Next 2Y8.55%
Revenue Next 3Y8.06%
Revenue Next 5Y9.16%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
LDO.MI Yearly Revenue VS EstimatesLDO.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 5B 10B 15B 20B 25B
LDO.MI Yearly EPS VS EstimatesLDO.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1 2 3

4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 34.60 indicates a quite expensive valuation of LDO.
Based on the Price/Earnings ratio, LDO is valued a bit cheaper than 68.89% of the companies in the same industry.
LDO's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 26.19.
The Price/Forward Earnings ratio is 23.46, which indicates a rather expensive current valuation of LDO.
Compared to the rest of the industry, the Price/Forward Earnings ratio of LDO indicates a somewhat cheap valuation: LDO is cheaper than 73.33% of the companies listed in the same industry.
LDO's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.50.
Industry RankSector Rank
PE 34.6
Fwd PE 23.46
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of LDO indicates a rather cheap valuation: LDO is cheaper than 86.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 11.39
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

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
LDO's earnings are expected to grow with 25.06% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.84
PEG (5Y)N/A
EPS Next 2Y28.91%
EPS Next 3Y25.06%

6

5. Dividend

5.1 Amount

LDO has a Yearly Dividend Yield of 1.01%.
LDO's Dividend Yield is a higher than the industry average which is at 1.08.
Compared to an average S&P500 Dividend Yield of 2.33, LDO's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.01%

5.2 History

The dividend of LDO is nicely growing with an annual growth rate of 16.88%!
Dividend Growth(5Y)16.88%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

LDO pays out 0.13% of its income as dividend. This is a sustainable payout ratio.
The dividend of LDO is growing, but earnings are growing more, so the dividend growth is sustainable.
DP0.13%
EPS Next 2Y28.91%
EPS Next 3Y25.06%
LDO.MI Yearly Income VS Free CF VS DividendLDO.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M 800M 1B
LDO.MI Dividend Payout.LDO.MI Dividend Payout, showing the Payout Ratio.LDO.MI Dividend Payout.PayoutRetained Earnings

LEONARDO SPA

BIT:LDO (10/30/2025, 5:36:15 PM)

50.52

-0.58 (-1.14%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)07-30 2025-07-30/dmh
Earnings (Next)11-05 2025-11-05
Inst Owners24.11%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap29.21B
Revenue(TTM)26.95B
Net Income(TTM)1.58B
Analysts79.09
Price Target55.62 (10.1%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.01%
Yearly Dividend0.31
Dividend Growth(5Y)16.88%
DP0.13%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)21.96%
Min EPS beat(2)17.25%
Max EPS beat(2)26.68%
EPS beat(4)4
Avg EPS beat(4)134.51%
Min EPS beat(4)1.01%
Max EPS beat(4)493.08%
EPS beat(8)5
Avg EPS beat(8)66.23%
EPS beat(12)7
Avg EPS beat(12)89.02%
EPS beat(16)10
Avg EPS beat(16)75.47%
Revenue beat(2)1
Avg Revenue beat(2)-6.11%
Min Revenue beat(2)-15.16%
Max Revenue beat(2)2.94%
Revenue beat(4)3
Avg Revenue beat(4)-1.19%
Min Revenue beat(4)-15.16%
Max Revenue beat(4)7.38%
Revenue beat(8)5
Avg Revenue beat(8)0.77%
Revenue beat(12)8
Avg Revenue beat(12)22.47%
Revenue beat(16)11
Avg Revenue beat(16)25.93%
PT rev (1m)-0.19%
PT rev (3m)1.59%
EPS NQ rev (1m)-2.29%
EPS NQ rev (3m)-2.29%
EPS NY rev (1m)0%
EPS NY rev (3m)3.31%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)0.02%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 34.6
Fwd PE 23.46
P/S 1.08
P/FCF N/A
P/OCF N/A
P/B 3.25
P/tB 59.13
EV/EBITDA 11.39
EPS(TTM)1.46
EY2.89%
EPS(NY)2.15
Fwd EY4.26%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS46.61
BVpS15.57
TBVpS0.85
PEG (NY)0.84
PEG (5Y)N/A
Graham Number22.61
Profitability
Industry RankSector Rank
ROA 4.83%
ROE 17.55%
ROCE 14.06%
ROIC 11.56%
ROICexc 13.21%
ROICexgc 40.38%
OM 7.54%
PM (TTM) 5.86%
GM 30.33%
FCFM N/A
ROA(3y)2.86%
ROA(5y)2.31%
ROE(3y)11.1%
ROE(5y)9.4%
ROIC(3y)6.61%
ROIC(5y)6.35%
ROICexc(3y)7.82%
ROICexc(5y)7.66%
ROICexgc(3y)23.66%
ROICexgc(5y)24.69%
ROCE(3y)8.05%
ROCE(5y)7.73%
ROICexgc growth 3Y7.63%
ROICexgc growth 5Y-1.46%
ROICexc growth 3Y6%
ROICexc growth 5Y-1.29%
OM growth 3Y4.63%
OM growth 5Y-1.19%
PM growth 3Y13.4%
PM growth 5Y0.3%
GM growth 3Y1.05%
GM growth 5Y-0.43%
F-ScoreN/A
Asset Turnover0.82
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF N/A
Debt/EBITDA 0.7
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.97
Quick Ratio 0.59
Altman-Z 2.05
F-ScoreN/A
WACC7.79%
ROIC/WACC1.48
Cap/Depr(3y)119.32%
Cap/Depr(5y)102.84%
Cap/Sales(3y)5.11%
Cap/Sales(5y)4.4%
Profit Quality(3y)54.54%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)32.76%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%97.08%
EPS Next Y41.07%
EPS Next 2Y28.91%
EPS Next 3Y25.06%
EPS Next 5Y23.32%
Revenue 1Y (TTM)15.05%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%10.16%
Revenue Next Year8.8%
Revenue Next 2Y8.55%
Revenue Next 3Y8.06%
Revenue Next 5Y9.16%
EBIT growth 1Y42.8%
EBIT growth 3Y12.91%
EBIT growth 5Y3.95%
EBIT Next Year72.46%
EBIT Next 3Y29.29%
EBIT Next 5Y25.39%
FCF growth 1Y59.9%
FCF growth 3Y71.98%
FCF growth 5Y70.37%
OCF growth 1Y29.93%
OCF growth 3Y27.59%
OCF growth 5Y19.25%

LEONARDO SPA / LDO.MI 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 of LEONARDO SPA (LDO.MI) stock?

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


What is the profitability of LDO stock?

LEONARDO SPA (LDO.MI) has a profitability rating of 5 / 10.


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

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


Can you provide the dividend sustainability for LDO stock?

The dividend rating of LEONARDO SPA (LDO.MI) is 6 / 10 and the dividend payout ratio is 0.13%.