LEONARDO SPA (LDO.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:LDO • IT0003856405

53.2 EUR
+0.28 (+0.53%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Overall LDO gets a fundamental rating of 5 out of 10. We evaluated LDO against 53 industry peers in the Aerospace & Defense industry. LDO has a medium profitability rating, but doesn't score so well on its financial health evaluation. LDO has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year LDO was profitable.
  • LDO had positive earnings in each of the past 5 years.
  • In the past 5 years LDO always reported a positive cash flow from operatings.
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 0 500M 1B 1.5B

1.2 Ratios

  • LDO has a better Return On Assets (4.86%) than 66.04% of its industry peers.
  • LDO has a Return On Equity (17.66%) which is comparable to the rest of the industry.
  • LDO has a Return On Invested Capital of 11.75%. This is amongst the best in the industry. LDO outperforms 81.13% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for LDO is below the industry average of 9.60%.
  • The 3 year average ROIC (6.61%) for LDO is below the current ROIC(11.75%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.86%
ROE 17.66%
ROIC 11.75%
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 5 10 15

1.3 Margins

  • With a Profit Margin value of 5.80%, LDO perfoms like the industry average, outperforming 50.94% of the companies in the same industry.
  • In the last couple of years the Profit Margin of LDO has remained more or less at the same level.
  • 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 has a Gross Margin of 30.12%. This is comparable to the rest of the industry: LDO outperforms 52.83% 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) 5.8%
GM 30.12%
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 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

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.
  • Compared to 1 year ago, LDO has about the same amount of shares outstanding.
  • 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 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 10B 20B 30B

2.2 Solvency

  • LDO has an Altman-Z score of 2.09. 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.
  • With a Altman-Z score value of 2.09, LDO is not doing good in the industry: 67.92% of the companies in the same industry are doing better.
  • LDO has a Debt/Equity ratio of 0.22. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.22, LDO belongs to the top of the industry, outperforming 84.91% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF N/A
Altman-Z 2.09
ROIC/WACC1.28
WACC9.18%
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 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.
  • The Current ratio of LDO (0.97) is worse than 81.13% of its industry peers.
  • A Quick Ratio of 0.59 indicates that LDO may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.59, LDO is doing worse than 75.47% of the companies in the same industry.
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 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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 24.53%, 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.
  • The Revenue has grown by 13.44% in the past year. This is quite good.
  • 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)24.53%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%24.06%
Revenue 1Y (TTM)13.44%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%10.61%

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 24.20% on average per year.
  • The Revenue is expected to grow by 8.44% on average over the next years. This is quite good.
EPS Next Y45.75%
EPS Next 2Y31.73%
EPS Next 3Y26.89%
EPS Next 5Y24.2%
Revenue Next Year10.39%
Revenue Next 2Y9.34%
Revenue Next 3Y8.66%
Revenue Next 5Y8.44%

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 5B 10B 15B 20B 25B
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

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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 35.00 indicates a quite expensive valuation of LDO.
  • LDO's Price/Earnings ratio is a bit cheaper when compared to the industry. LDO is cheaper than 71.70% of the companies in the same industry.
  • LDO is valuated rather expensively when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 23.65 indicates a rather expensive valuation of LDO.
  • Based on the Price/Forward Earnings ratio, LDO is valued a bit cheaper than the industry average as 75.47% of the companies are valued more expensively.
  • LDO's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.78.
Industry RankSector Rank
PE 35
Fwd PE 23.65
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

  • Based on the Enterprise Value to EBITDA ratio, LDO is valued cheaply inside the industry as 90.57% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 11.62
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 has a very decent profitability rating, which may justify a higher PE ratio.
  • LDO's earnings are expected to grow with 26.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.77
PEG (5Y)N/A
EPS Next 2Y31.73%
EPS Next 3Y26.89%

More info and screens

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

5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.92%, LDO is not a good candidate for dividend investing.
  • LDO's Dividend Yield is a higher than the industry average which is at 0.71.
  • With a Dividend Yield of 0.92, LDO pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 0.92%

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 11.14% 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.
DP11.14%
EPS Next 2Y31.73%
EPS Next 3Y26.89%
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 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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LEONARDO SPA

BIT:LDO (2/6/2026, 7:00:00 PM)

53.2

+0.28 (+0.53%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)11-05
Earnings (Next)02-24
Inst Owners26.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap30.76B
Revenue(TTM)27.38B
Net Income(TTM)1.59B
Analysts78.18
Price Target58.8 (10.53%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.92%
Yearly Dividend0.31
Dividend Growth(5Y)16.88%
DP11.14%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)17.5%
Min EPS beat(2)17.25%
Max EPS beat(2)17.74%
EPS beat(4)4
Avg EPS beat(4)15.67%
Min EPS beat(4)1.01%
Max EPS beat(4)26.68%
EPS beat(8)6
Avg EPS beat(8)71.65%
EPS beat(12)7
Avg EPS beat(12)44.7%
EPS beat(16)11
Avg EPS beat(16)80.04%
Revenue beat(2)2
Avg Revenue beat(2)3.02%
Min Revenue beat(2)2.94%
Max Revenue beat(2)3.1%
Revenue beat(4)3
Avg Revenue beat(4)-2.26%
Min Revenue beat(4)-15.16%
Max Revenue beat(4)3.1%
Revenue beat(8)6
Avg Revenue beat(8)1.52%
Revenue beat(12)8
Avg Revenue beat(12)6.12%
Revenue beat(16)12
Avg Revenue beat(16)26.25%
PT rev (1m)2.41%
PT rev (3m)4.27%
EPS NQ rev (1m)24.23%
EPS NQ rev (3m)-7.08%
EPS NY rev (1m)-0.17%
EPS NY rev (3m)3.31%
Revenue NQ rev (1m)-0.05%
Revenue NQ rev (3m)1.38%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.46%
Valuation
Industry RankSector Rank
PE 35
Fwd PE 23.65
P/S 1.12
P/FCF N/A
P/OCF N/A
P/B 3.42
P/tB 62.26
EV/EBITDA 11.62
EPS(TTM)1.52
EY2.86%
EPS(NY)2.25
Fwd EY4.23%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS47.36
BVpS15.57
TBVpS0.85
PEG (NY)0.77
PEG (5Y)N/A
Graham Number23.07
Profitability
Industry RankSector Rank
ROA 4.86%
ROE 17.66%
ROCE 14.29%
ROIC 11.75%
ROICexc 13.43%
ROICexgc 41.04%
OM 7.54%
PM (TTM) 5.8%
GM 30.12%
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 Turnover0.84
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF N/A
Debt/EBITDA 0.69
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 2.09
F-ScoreN/A
WACC9.18%
ROIC/WACC1.28
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)24.53%
EPS 3Y9.76%
EPS 5Y-4.48%
EPS Q2Q%24.06%
EPS Next Y45.75%
EPS Next 2Y31.73%
EPS Next 3Y26.89%
EPS Next 5Y24.2%
Revenue 1Y (TTM)13.44%
Revenue growth 3Y7.91%
Revenue growth 5Y5.2%
Sales Q2Q%10.61%
Revenue Next Year10.39%
Revenue Next 2Y9.34%
Revenue Next 3Y8.66%
Revenue Next 5Y8.44%
EBIT growth 1Y36.48%
EBIT growth 3Y12.91%
EBIT growth 5Y3.95%
EBIT Next Year74.18%
EBIT Next 3Y30.48%
EBIT Next 5Y26.34%
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 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 3 / 10.


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

The dividend rating of LEONARDO SPA (LDO.MI) is 5 / 10 and the dividend payout ratio is 11.14%.