LEONARDO SPA (LDO.MI) Fundamental Analysis & Valuation

BIT:LDO • IT0003856405

Current stock price

56.93 EUR
+1.27 (+2.28%)
Last:

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

7

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.
  • 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

1.2 Ratios

  • With a decent Return On Assets value of 5.11%, LDO is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • LDO has a Return On Equity of 18.45%. This is in the better half of the industry: LDO outperforms 69.23% of its industry peers.
  • The Return On Invested Capital of LDO (11.79%) is better than 78.85% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for LDO is below the industry average of 9.95%.
  • 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 (7.76%) which is comparable to the rest of the industry.
  • LDO's Operating Margin has improved in the last couple of years.
  • LDO has a better Gross Margin (30.91%) than 61.54% 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 7.76%
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

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), LDO is creating some value.
  • LDO has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for LDO has been increased compared to 5 years ago.
  • The debt/assets ratio for LDO has been reduced compared to a year ago.
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 2.07 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 2.07. This is in the lower half of the industry: LDO underperforms 61.54% of its industry peers.
  • LDO has a debt to FCF ratio of 6.18. This is a slightly negative value and a sign of low solvency as LDO would need 6.18 years to pay back of 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 42.31% of its industry peers.
  • LDO has a Debt/Equity ratio of 0.20. This is a healthy value indicating a solid balance between debt and equity.
  • LDO has a better Debt to Equity ratio (0.20) than 82.69% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 6.18
Altman-Z 2.07
ROIC/WACC1.43
WACC8.24%
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 Current ratio of 0.97. This is in the lower half of the industry: LDO underperforms 73.08% 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 worse Quick ratio (0.62) than 76.92% 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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6

3. LDO.MI Growth Analysis

3.1 Past

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

  • LDO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 24.81% yearly.
  • 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 Year11.22%
Revenue Next 2Y9.65%
Revenue Next 3Y8.91%
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.
  • 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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5

4. LDO.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 43.79 indicates a quite expensive valuation of LDO.
  • Based on the Price/Earnings ratio, LDO is valued a bit cheaper than 63.46% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 24.75. LDO is valued rather expensively when compared to this.
  • Based on the Price/Forward Earnings ratio of 25.20, the valuation of LDO can be described as expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of LDO indicates a somewhat cheap valuation: LDO is cheaper than 75.00% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.10. LDO is around the same levels.
Industry RankSector Rank
PE 43.79
Fwd PE 25.2
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

  • LDO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. LDO is cheaper than 88.46% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as LDO.
Industry RankSector Rank
P/FCF 45.34
EV/EBITDA 11.29
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)0.93
PEG (5Y)N/A
EPS Next 2Y32.03%
EPS Next 3Y27.23%

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4

5. LDO.MI Dividend Analysis

5.1 Amount

  • LDO has a Yearly Dividend Yield of 1.08%.
  • LDO's Dividend Yield is a higher than the industry average which is at 0.77.
  • With a Dividend Yield of 1.08, LDO pays less dividend than the S&P500 average, which is at 1.89.
Industry RankSector Rank
Dividend Yield 1.08%

5.2 History

  • On average, the dividend of LDO grows each year by 33.40%, which is quite nice.
Dividend Growth(5Y)33.4%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • LDO pays out 19.44% of its income as dividend. This is a 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 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 (3/31/2026, 11:52:07 AM)

56.93

+1.27 (+2.28%)

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 Cap32.91B
Revenue(TTM)28.19B
Net Income(TTM)1.76B
Analysts75.65
Price Target67.62 (18.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.08%
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)0.44%
EPS NY rev (3m)0.13%
Revenue NQ rev (1m)-2.69%
Revenue NQ rev (3m)-2.73%
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 43.79
Fwd PE 25.2
P/S 1.17
P/FCF 45.34
P/OCF 18.89
P/B 3.44
P/tB 32.46
EV/EBITDA 11.29
EPS(TTM)1.3
EY2.28%
EPS(NY)2.26
Fwd EY3.97%
FCF(TTM)1.26
FCFY2.21%
OCF(TTM)3.01
OCFY5.29%
SpS48.75
BVpS16.54
TBVpS1.75
PEG (NY)0.93
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 2.07
F-Score8
WACC8.24%
ROIC/WACC1.43
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 Year11.22%
Revenue Next 2Y9.65%
Revenue Next 3Y8.91%
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.


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 4 / 10 and the dividend payout ratio is 19.44%.