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Leonardo S.p.a.BIT:LDO Stock Report

Market Cap €29.4b
Share Price
€48.94
My Fair Value
€54
9.3% undervalued intrinsic discount
1Y133.9%
7D0.8%
Portfolio Value
​
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Leonardo S.p.a.

BIT:LDO Stock Report

Market Cap: €29.4b

Leonardo (LDO) Stock Overview

An industrial and technological company, engages in the helicopters, defense electronics and security, cyber security and solutions, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States of America, and internationally. More details

LDO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance3/6
Financial Health5/6
Dividends2/6

Rewards

Price-To-Earnings ratio (26.9x) is below the Aerospace & Defense industry average (40.8x)

Earnings are forecast to grow 13.6% per year

Earnings grew by 6% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Volatile share price over the past 3 months compared to the Italian market


LDO Community Fair Values

Create Narrative

See what 143 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Leonardo

Accelerated European And NATO Defense Spending Will Drive Cyber Modernization

Key Takeaways Heightened global defense demand and strategic international expansion are driving sustained growth, diversified revenue streams, and increased business resilience. Innovation in digital defense, AI, and operational efficiency is boosting profit margins and positioning Leonardo as a leader in next-generation defense technologies.
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€53.99
FV
9.3% undervalued intrinsic discount
7.23%
Revenue growth p.a.
1users have liked this narrative
0users have commented on this narrative
63users have followed this narrative
6 days ago author updated this narrative
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Leonardo

Rising Geopolitical Tensions And Digitalization Will Drive Demand

Key Takeaways Leonardo's diversified portfolio and global presence position it to outperform peers as defense budgets rise, enabling multi-year revenue visibility and growth. Strategic joint ventures, digital initiatives, and expansion into high-margin tech will boost profitability, margin resilience, and operational efficiency beyond current expectations.
View narrative
€64.00
FV
23.5% undervalued intrinsic discount
10.57%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
3users have followed this narrative
6 days ago author updated this narrative
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Leonardo

Capital Restrictions And Order Decline Will Undermine European Defense

Key Takeaways Heightened ESG scrutiny, reduced investor appetite, and legacy governance issues threaten funding access, net margin expansion, and international contract opportunities. Emerging tech competition and defense industry transformation expose Leonardo to innovation shortfalls and structural vulnerabilities in its traditional business lines.
View narrative
€40.22
FV
21.7% overvalued intrinsic discount
5.13%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
6 days ago author updated this narrative
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Leonardo

Leonardo will leverage strong order backlog and rising defence budgets for growth

Key drivers: Strong order backlog, efficiency gains, higher defence budgets, digital & services growth Margin expansion: From mid-single digits to high-teens EBIT margins by 2029 Risks: Geopolitics, supply chains, cybersecurity, ESG/regulation, talent Valuation: Trading at ~1.5x EV/Sales and ~23x forward P/E Summary: Leonardo benefits from robust global defence spending, a diversified aerospace portfolio and accelerating service revenues. Efficiency programmes and digitalisation underpin margin improvement, while a strong balance sheet supports capital allocation.
View narrative
€50.31
FV
2.7% undervalued intrinsic discount
7.00%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
1users have followed this narrative
4 months ago author updated this narrative
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Leonardo S.p.a. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Leonardo
Historical stock prices
Current Share Price€48.94
52 Week High€56.18
52 Week Low€19.73
Beta1.0
1 Month Change6.23%
3 Month Change-7.90%
1 Year Change133.94%
3 Year Change527.11%
5 Year Change774.24%
Change since IPO250.38%

Recent News & Updates

Leonardo (BIT:LDO) Has A Pretty Healthy Balance Sheet

Aug 20
Leonardo (BIT:LDO) Has A Pretty Healthy Balance Sheet

Leonardo's (BIT:LDO) Solid Earnings Have Been Accounted For Conservatively

Aug 07
Leonardo's (BIT:LDO) Solid Earnings Have Been Accounted For Conservatively

Recent updates

Leonardo (BIT:LDO) Has A Pretty Healthy Balance Sheet

Aug 20
Leonardo (BIT:LDO) Has A Pretty Healthy Balance Sheet

Leonardo's (BIT:LDO) Solid Earnings Have Been Accounted For Conservatively

Aug 07
Leonardo's (BIT:LDO) Solid Earnings Have Been Accounted For Conservatively

Leonardo S.p.a.'s (BIT:LDO) Price Is Out Of Tune With Earnings

Jul 06
Leonardo S.p.a.'s (BIT:LDO) Price Is Out Of Tune With Earnings

Leonardo's (BIT:LDO) Upcoming Dividend Will Be Larger Than Last Year's

Jun 17
Leonardo's (BIT:LDO) Upcoming Dividend Will Be Larger Than Last Year's

Leonardo (BIT:LDO) Is Paying Out A Larger Dividend Than Last Year

Jun 02
Leonardo (BIT:LDO) Is Paying Out A Larger Dividend Than Last Year

Earnings Beat: Leonardo S.p.a. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

May 10
Earnings Beat: Leonardo S.p.a. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Leonardo (BIT:LDO) Is Increasing Its Dividend To €0.52

May 05
Leonardo (BIT:LDO) Is Increasing Its Dividend To €0.52

Here's Why We Think Leonardo (BIT:LDO) Is Well Worth Watching

Apr 28
Here's Why We Think Leonardo (BIT:LDO) Is Well Worth Watching

Leonardo (BIT:LDO) Will Pay A Larger Dividend Than Last Year At €0.52

Apr 15
Leonardo (BIT:LDO) Will Pay A Larger Dividend Than Last Year At €0.52

Is It Time To Consider Buying Leonardo S.p.a. (BIT:LDO)?

Apr 11
Is It Time To Consider Buying Leonardo S.p.a. (BIT:LDO)?

Is Leonardo S.p.a. (BIT:LDO) Worth €46.3 Based On Its Intrinsic Value?

Mar 28
Is Leonardo S.p.a. (BIT:LDO) Worth €46.3 Based On Its Intrinsic Value?

Leonardo S.p.a. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Mar 14
Leonardo S.p.a. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

What Leonardo S.p.a.'s (BIT:LDO) 49% Share Price Gain Is Not Telling You

Mar 13
What Leonardo S.p.a.'s (BIT:LDO) 49% Share Price Gain Is Not Telling You

Here's Why Leonardo (BIT:LDO) Can Manage Its Debt Responsibly

Jan 14
Here's Why Leonardo (BIT:LDO) Can Manage Its Debt Responsibly

Is It Too Late To Consider Buying Leonardo S.p.a. (BIT:LDO)?

Dec 30
Is It Too Late To Consider Buying Leonardo S.p.a. (BIT:LDO)?

Is There An Opportunity With Leonardo S.p.a.'s (BIT:LDO) 26% Undervaluation?

Dec 15
Is There An Opportunity With Leonardo S.p.a.'s (BIT:LDO) 26% Undervaluation?

Does Leonardo (BIT:LDO) Deserve A Spot On Your Watchlist?

Nov 29
Does Leonardo (BIT:LDO) Deserve A Spot On Your Watchlist?

Investors Can Find Comfort In Leonardo's (BIT:LDO) Earnings Quality

Nov 14
Investors Can Find Comfort In Leonardo's (BIT:LDO) Earnings Quality
User avatar

International Alliances And Technology Drive Dynamic Growth In Aerospace And Defense Markets

Strategic partnerships and international alliances aim to boost global market presence, enhancing revenue and margins through expanded capabilities.

Is Leonardo (BIT:LDO) Using Too Much Debt?

Sep 26
Is Leonardo (BIT:LDO) Using Too Much Debt?

Is Now An Opportune Moment To Examine Leonardo S.p.a. (BIT:LDO)?

Sep 11
Is Now An Opportune Moment To Examine Leonardo S.p.a. (BIT:LDO)?

Shareholder Returns

LDOIT Aerospace & DefenseIT Market
7D0.8%5.2%-1.5%
1Y133.9%139.1%21.9%

Return vs Industry: LDO underperformed the Italian Aerospace & Defense industry which returned 139.1% over the past year.

Return vs Market: LDO exceeded the Italian Market which returned 21.9% over the past year.

Price Volatility

Is LDO's price volatile compared to industry and market?
LDO volatility
LDO Average Weekly Movement6.1%
Aerospace & Defense Industry Average Movement4.7%
Market Average Movement3.9%
10% most volatile stocks in IT Market7.8%
10% least volatile stocks in IT Market2.4%

Stable Share Price: LDO's share price has been volatile over the past 3 months compared to the Italian market.

Volatility Over Time: LDO's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of Italian stocks.

About the Company

FoundedEmployeesCEOWebsite
194861,265Roberto Cingolaniwww.leonardo.com/en/home

Leonardo S.p.a., an industrial and technological company, engages in the helicopters, defense electronics and security, cyber security and solutions, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States of America, and internationally. The company offers a range of helicopters for battlefield/personnel recovery, combat, maritime, training, VIP/executive transport, medical and rescue, energy, security, and utility services, as well as provides support and training services. It also provides trainers, fighters, multi-mission transport, and multi-mission surveillance aircraft; command and controls, radars and sensors, optronics, communication systems, electronic warfare, avionics, and air traffic management; defense systems comprising turrets and canons, munitions, and torpedoes; and cyber security and resilience, critical communications, digitalization, and monitoring solutions.

Leonardo S.p.a. Fundamentals Summary

How do Leonardo's earnings and revenue compare to its market cap?
LDO fundamental statistics
Market cap€29.36b
Earnings (TTM)€1.05b
Revenue (TTM)€18.70b
26.9x
P/E Ratio
1.5x
P/S Ratio

Is LDO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
LDO income statement (TTM)
Revenue€18.70b
Cost of Revenue€11.29b
Gross Profit€7.41b
Other Expenses€6.36b
Earnings€1.05b

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

Nov 05, 2025

Earnings per share (EPS)1.82
Gross Margin39.61%
Net Profit Margin5.60%
Debt/Equity Ratio36.0%

How did LDO perform over the long term?

See historical performance and comparison

Dividends

1.1%
Current Dividend Yield
29%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/09/02 17:35
End of Day Share Price 2025/09/02 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Leonardo S.p.a. is covered by 42 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Lionel PellicerAlphaValue
Andrea BelloliBanca Akros S.p.A. (ESN)
Andrea BelloliBanca Akros S.p.A. (ESN)