LEONARDO SPA (LDO.MI) Fundamental Analysis & Valuation

BIT:LDO • IT0003856405

Current stock price

60.6 EUR
-2.6 (-4.11%)
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.
  • LDO had a positive operating cash flow in the past year.
  • 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 (4.83%) than 62.50% of its industry peers.
  • With a Return On Equity value of 17.55%, LDO perfoms like the industry average, outperforming 58.93% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 10.44%, LDO is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
  • LDO had an Average Return On Invested Capital over the past 3 years of 6.61%. This is below the industry average of 9.82%.
  • The 3 year average ROIC (6.61%) for LDO is below the current ROIC(10.44%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.83%
ROE 17.55%
ROIC 10.44%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • LDO's Profit Margin of 5.86% is in line compared to the rest of the industry. LDO outperforms 42.86% of its industry peers.
  • LDO's Profit Margin has been stable in the last couple of years.
  • With a Operating Margin value of 7.54%, LDO perfoms like the industry average, outperforming 41.07% of the companies in the same industry.
  • LDO's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of LDO (30.33%) is better than 60.71% of its industry peers.
  • LDO's Gross Margin has been stable in the last couple of years.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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2

2. LDO.MI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), LDO is creating some value.
  • The number of shares outstanding for LDO remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for LDO has been increased compared to 5 years ago.
  • 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 2.23 indicates that LDO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.23, LDO is doing worse than 66.07% of the companies in the same industry.
  • The Debt to FCF ratio of LDO is 6.67, which is on the high side as it means it would take LDO, 6.67 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 6.67, LDO is doing worse than 60.71% of the companies in the same industry.
  • LDO has a Debt/Equity ratio of 0.39. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of LDO (0.39) is better than 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 6.67
Altman-Z 2.23
ROIC/WACC1.27
WACC8.22%
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

  • A Current Ratio of 0.97 indicates that LDO may have some problems paying its short term obligations.
  • LDO has a worse Current ratio (0.97) than 76.79% of its industry peers.
  • LDO has a Quick 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 Quick ratio of 0.59. This is in the lower half of the industry: LDO underperforms 73.21% 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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6

3. LDO.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 13.39% over the past year.
  • 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.
  • The Revenue has grown by 16.17% in the past year. This is quite good.
  • LDO 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%N/A
Revenue 1Y (TTM)16.17%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%6.54%

3.2 Future

  • The Earnings Per Share is expected to grow by 24.81% on average over the next years. This is a very strong growth
  • LDO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.34% yearly.
EPS Next Y47.03%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
EPS Next 5Y24.81%
Revenue Next Year11.22%
Revenue Next 2Y9.65%
Revenue Next 3Y8.91%
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.
  • 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 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

  • A Price/Earnings ratio of 46.62 indicates a quite expensive valuation of LDO.
  • The rest of the industry has a similar Price/Earnings ratio as LDO.
  • LDO is valuated expensively when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 26.83 indicates a quite expensive valuation of LDO.
  • Based on the Price/Forward Earnings ratio, LDO is valued a bit cheaper than 66.07% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of LDO to the average of the S&P500 Index (23.28), we can say LDO is valued inline with the index average.
Industry RankSector Rank
PE 46.62
Fwd PE 26.83
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 80

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 87.50% of the companies listed in the same industry.
  • LDO's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 55
EV/EBITDA 13.33
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • LDO has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as LDO's earnings are expected to grow with 27.23% in the coming years.
PEG (NY)0.99
PEG (5Y)N/A
EPS Next 2Y32.03%
EPS Next 3Y27.23%

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3

5. LDO.MI Dividend Analysis

5.1 Amount

  • With a yearly dividend of 1.00%, LDO is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.77, LDO has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.89, LDO's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1%

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

  • LDO pays out 20.84% of its income as dividend. This is a sustainable payout ratio.
  • LDO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP20.84%
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 (3/20/2026, 7:00:00 PM)

60.6

-2.6 (-4.11%)

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 Cap35.04B
Revenue(TTM)17.76B
Net Income(TTM)1.58B
Analysts75.65
Price Target61.11 (0.84%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1%
Yearly Dividend0.59
Dividend Growth(5Y)33.4%
DP20.84%
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)0.99%
PT rev (3m)6.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.88%
EPS NY rev (3m)1.95%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.75%
Revenue NY rev (3m)1.31%
Valuation
Industry RankSector Rank
PE 46.62
Fwd PE 26.83
P/S 1.3
P/FCF 55
P/OCF 22.43
P/B 3.89
P/tB 70.92
EV/EBITDA 13.33
EPS(TTM)1.3
EY2.15%
EPS(NY)2.26
Fwd EY3.73%
FCF(TTM)1.1
FCFY1.82%
OCF(TTM)2.7
OCFY4.46%
SpS46.61
BVpS15.57
TBVpS0.85
PEG (NY)0.99
PEG (5Y)N/A
Graham Number21.34
Profitability
Industry RankSector Rank
ROA 4.83%
ROE 17.55%
ROCE 14.06%
ROIC 10.44%
ROICexc 11.77%
ROICexgc 29.39%
OM 7.54%
PM (TTM) 5.86%
GM 30.33%
FCFM 2.36%
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-Score7
Asset Turnover0.82
Health
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 6.67
Debt/EBITDA 1.25
Cap/Depr 119.05%
Cap/Sales 3.43%
Interest Coverage 11.88
Cash Conversion 55.61%
Profit Quality 40.34%
Current Ratio 0.97
Quick Ratio 0.59
Altman-Z 2.23
F-Score7
WACC8.22%
ROIC/WACC1.27
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)13.39%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%N/A
EPS Next Y47.03%
EPS Next 2Y32.03%
EPS Next 3Y27.23%
EPS Next 5Y24.81%
Revenue 1Y (TTM)16.17%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%6.54%
Revenue Next Year11.22%
Revenue Next 2Y9.65%
Revenue Next 3Y8.91%
Revenue Next 5Y9.34%
EBIT growth 1Y42.8%
EBIT growth 3Y12.91%
EBIT growth 5Y3.95%
EBIT Next Year76.57%
EBIT Next 3Y31.1%
EBIT Next 5Y26.34%
FCF growth 1Y-15.63%
FCF growth 3Y71.98%
FCF growth 5Y70.37%
OCF growth 1Y1.1%
OCF growth 3Y27.59%
OCF growth 5Y19.25%

LEONARDO SPA / LDO.MI Fundamental Analysis FAQ

What is the fundamental rating for LDO stock?

ChartMill assigns a fundamental rating of 4 / 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.


Can you provide the profitability details for LEONARDO SPA?

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


How financially healthy is LEONARDO SPA?

The financial health rating of LEONARDO SPA (LDO.MI) is 2 / 10.


How sustainable is the dividend of LEONARDO SPA (LDO.MI) stock?

The dividend rating of LEONARDO SPA (LDO.MI) is 4 / 10 and the dividend payout ratio is 20.84%.