LEONARDO SPA (LDO.MI) Fundamental Analysis & Valuation

BIT:LDO • IT0003856405

Current stock price

53.02 EUR
+0.88 (+1.69%)
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

  • LDO had positive earnings in the past year.
  • In the past year LDO had a positive cash flow from operations.
  • Each year in the past 5 years LDO has been profitable.
  • 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 2025 0 500M 1B 1.5B

1.2 Ratios

  • LDO has a better Return On Assets (5.11%) than 67.86% of its industry peers.
  • The Return On Equity of LDO (18.45%) is better than 64.29% of its industry peers.
  • LDO's Return On Invested Capital of 11.79% is fine compared to the rest of the industry. LDO outperforms 75.00% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for LDO is below the industry average of 9.92%.
  • The 3 year average ROIC (7.54%) for LDO 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%
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 has a Profit Margin (6.26%) which is in line with its industry peers.
  • LDO's Profit Margin has improved in the last couple of years.
  • LDO has a Operating Margin of 7.76%. This is in the lower half of the industry: LDO underperforms 60.71% of its industry peers.
  • In the last couple of years the Operating Margin of LDO has grown nicely.
  • LDO has a Gross Margin (30.91%) which is in line with its industry peers.
  • LDO'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%
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.
  • Compared to 1 year ago, LDO has about the same amount of shares outstanding.
  • Compared to 5 years ago, LDO has more shares outstanding
  • LDO has a better debt/assets ratio than last year.
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 2.03 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 2.03. This is in the lower half of the industry: LDO underperforms 67.86% 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.
  • The Debt to FCF ratio of LDO (6.18) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.20 indicates that LDO is not too dependend on debt financing.
  • LDO's Debt to Equity ratio of 0.20 is amongst the best of the industry. LDO outperforms 85.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 6.18
Altman-Z 2.03
ROIC/WACC1.5
WACC7.85%
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 worse Current ratio (0.97) than 80.36% of its industry peers.
  • A Quick Ratio of 0.62 indicates that LDO may have some problems paying its short term obligations.
  • The Quick ratio of LDO (0.62) is worse than 80.36% 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

7

3. LDO.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 28.09% over the past year.
  • The Earnings Per Share has been growing by 31.64% on average over the past years. This is a very strong growth
  • LDO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.46%.
  • LDO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.78% yearly.
EPS 1Y (TTM)28.09%
EPS 3Y1.07%
EPS 5Y31.64%
EPS Q2Q%18.69%
Revenue 1Y (TTM)10.46%
Revenue growth 3Y9.85%
Revenue growth 5Y7.78%
Sales Q2Q%6.54%

3.2 Future

  • LDO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.15% yearly.
  • LDO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.58% yearly.
EPS Next Y38.64%
EPS Next 2Y28.44%
EPS Next 3Y24.98%
EPS Next 5Y20.15%
Revenue Next Year9.72%
Revenue Next 2Y9.33%
Revenue Next 3Y9.19%
Revenue Next 5Y9.58%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • 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 2017 2019 2021 2023 2025 2027 2029 2031 2033 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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5

4. LDO.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 31.94, which means the current valuation is very expensive for LDO.
  • Based on the Price/Earnings ratio, LDO is valued a bit cheaper than the industry average as 66.07% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of LDO to the average of the S&P500 Index (26.77), we can say LDO is valued inline with the index average.
  • Based on the Price/Forward Earnings ratio of 23.04, the valuation of LDO can be described as rather expensive.
  • 66.07% of the companies in the same industry are more expensive than LDO, based on the Price/Forward Earnings ratio.
  • LDO is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.75, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 31.94
Fwd PE 23.04
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

  • LDO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. LDO is cheaper than 94.64% of the companies in the same industry.
  • LDO's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 42.22
EV/EBITDA 10.77
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.
  • A more expensive valuation may be justified as LDO's earnings are expected to grow with 24.98% in the coming years.
PEG (NY)0.83
PEG (5Y)1.01
EPS Next 2Y28.44%
EPS Next 3Y24.98%

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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 1.16%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.88, LDO pays a bit more dividend than its industry peers.
  • Compared to the average S&P500 Dividend Yield of 1.82, LDO is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.16%

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.
  • The dividend of LDO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP19.44%
EPS Next 2Y28.44%
EPS Next 3Y24.98%
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 (4/30/2026, 7:00:00 PM)

53.02

+0.88 (+1.69%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Industry Strength66.22
Industry Growth78.67
Earnings (Last)03-10
Earnings (Next)05-05
Inst Owners27.75%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap30.65B
Revenue(TTM)28.19B
Net Income(TTM)1.76B
Analysts77.39
Price Target69.3 (30.71%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.16%
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)2
Avg EPS beat(2)12.09%
Min EPS beat(2)6.43%
Max EPS beat(2)17.74%
EPS beat(4)4
Avg EPS beat(4)17.03%
Min EPS beat(4)6.43%
Max EPS beat(4)26.68%
EPS beat(8)7
Avg EPS beat(8)72.94%
EPS beat(12)7
Avg EPS beat(12)43.4%
EPS beat(16)11
Avg EPS beat(16)79.22%
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)13.4%
PT rev (3m)17.86%
EPS NQ rev (1m)14.29%
EPS NQ rev (3m)-27.27%
EPS NY rev (1m)1.88%
EPS NY rev (3m)2.33%
Revenue NQ rev (1m)-6.6%
Revenue NQ rev (3m)-9.12%
Revenue NY rev (1m)1.59%
Revenue NY rev (3m)2.16%
Valuation
Industry RankSector Rank
PE 31.94
Fwd PE 23.04
P/S 1.09
P/FCF 42.22
P/OCF 17.6
P/B 3.21
P/tB 30.23
EV/EBITDA 10.77
EPS(TTM)1.66
EY3.13%
EPS(NY)2.3
Fwd EY4.34%
FCF(TTM)1.26
FCFY2.37%
OCF(TTM)3.01
OCFY5.68%
SpS48.75
BVpS16.54
TBVpS1.75
PEG (NY)0.83
PEG (5Y)1.01
Graham Number24.8516 (-53.13%)
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 2.03
F-Score8
WACC7.85%
ROIC/WACC1.5
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)28.09%
EPS 3Y1.07%
EPS 5Y31.64%
EPS Q2Q%18.69%
EPS Next Y38.64%
EPS Next 2Y28.44%
EPS Next 3Y24.98%
EPS Next 5Y20.15%
Revenue 1Y (TTM)10.46%
Revenue growth 3Y9.85%
Revenue growth 5Y7.78%
Sales Q2Q%6.54%
Revenue Next Year9.72%
Revenue Next 2Y9.33%
Revenue Next 3Y9.19%
Revenue Next 5Y9.58%
EBIT growth 1Y26.4%
EBIT growth 3Y19.12%
EBIT growth 5Y16.03%
EBIT Next Year71.13%
EBIT Next 3Y29.05%
EBIT Next 5Y22.09%
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 5 / 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 38.64% in the next year.