Leonardo Balance Sheet Health
Financial Health criteria checks 5/6
Leonardo has a total shareholder equity of €11.0B and total debt of €3.9B, which brings its debt-to-equity ratio to 36%. Its total assets and total liabilities are €24.1B and €13.2B respectively. Leonardo's EBIT is €2.0B making its interest coverage ratio 44.6. It has cash and short-term investments of €1.5B.
Key information
35.98%
Debt to equity ratio
€3.94b
Debt
| Interest coverage ratio | 44.6x |
| Cash | €1.49b |
| Equity | €10.96b |
| Total liabilities | €13.17b |
| Total assets | €24.13b |
Recent financial health updates
Recent updates
LDO: Future CEO Transition Will Drive Repricing Of Execution Risk
Leonardo's analyst price target has moved higher, with the fair value estimate rising from about €54.56 to roughly €68.67 as analysts factor in updated expectations for revenue growth, profit margins, and a slightly lower discount rate, alongside recent target revisions across the Street. Analyst Commentary Recent Street research on Leonardo has been active, with several target changes and rating moves clustered over a relatively short period.
LDO: Leadership Shift And Portfolio Changes Will Drive Future Earnings Momentum
Leonardo's implied fair value has been revised higher from €64.00 to about €80.22, reflecting analysts' updated price targets and mixed rating changes that balance recent target cuts, such as JPMorgan's move to €70, with several earlier increases from firms like Citi, UBS, Morgan Stanley and Barclays. Analyst Commentary Recent research activity on Leonardo highlights a mix of price target revisions and rating changes that collectively point to a supportive backdrop from several bullish analysts, even as JPMorgan trims its target to €70 while maintaining an Overweight stance.
LDO: Higher Fair Value Signals Confidence In Portfolio And Leadership Outlook
Analysts have lifted the fair value estimate for Leonardo from €40.45 to €61.50, reflecting recent price target increases across several firms and updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. Analyst Commentary Recent research on Leonardo shows a mix of optimism and caution, with several firms adjusting ratings and price targets in quick succession.Here's What Analysts Are Forecasting For Leonardo S.p.a. (BIT:LDO) After Its First-Quarter Results
As you might know, Leonardo S.p.a. ( BIT:LDO ) recently reported its first-quarter numbers. Results were roughly in...LDO: European Defense Sector Momentum And Satellite Joint Venture Will Shape Outlook
Analysts have modestly raised their price target for Leonardo, with the updated consensus now reflecting increased confidence in the company's outlook. This is driven by a supportive sector environment and recent positive coverage, lifting targets by several euros to EUR 57.Accelerated European And NATO Defense Spending Will Drive Cyber Modernization
Leonardo's analyst price target has increased slightly from EUR 54.18 to EUR 54.56, as analysts cite an improved industry outlook and higher price targets from major banks, despite only minor changes in company fundamentals. Analyst Commentary Recent street research highlights a mix of optimism and caution from analysts following Leonardo.Accelerated European And NATO Defense Spending Will Drive Cyber Modernization
Leonardo's analyst price target has been increased from €53.38 to €54.18, as analysts note stronger sector dynamics along with a modest improvement in projected growth and profit margins. Analyst Commentary Recent analyst coverage of Leonardo has provided a range of perspectives on the company's outlook, valuation, and competitive positioning within the European defense sector.Leonardo (BIT:LDO) Ticks All The Boxes When It Comes To Earnings Growth
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Accelerated European And NATO Defense Spending Will Drive Cyber Modernization
Analysts have slightly lowered Leonardo’s price target to €53.38 as high sector valuations and a relatively lower growth profile temper optimism toward robust European defense spending, resulting in only a marginal fair value revision. Analyst Commentary Bullish analysts see Leonardo benefiting from Europe's strongest defense spending cycle since the Cold War, supporting sector-wide top-line growth.Accelerated European And NATO Defense Spending Will Drive Cyber Modernization
With no material changes in net profit margin or revenue growth forecasts, Leonardo's consensus analyst price target remains stable at €53.99. What's in the News Leonardo and Textron Aviation Defense entered a teaming agreement to offer the Beechcraft M-346N, based on Leonardo's M-346 trainer, for the U.S. Navy Undergraduate Jet Training System program.Why Leonardo S.p.a. (BIT:LDO) Could Be Worth Watching
Let's talk about the popular Leonardo S.p.a. ( BIT:LDO ). The company's shares saw a double-digit share price rise of...Leonardo (BIT:LDO) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Leonardo's (BIT:LDO) Solid Earnings Have Been Accounted For Conservatively
BIT:LDO 1 Year Share Price vs Fair Value Explore Leonardo's Fair Values from the Community and select yours Leonardo...Leonardo S.p.a.'s (BIT:LDO) Price Is Out Of Tune With Earnings
When close to half the companies in Italy have price-to-earnings ratios (or "P/E's") below 16x, you may consider...
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.Financial Position Analysis
Short Term Liabilities: LDO's short term assets (€7.1B) do not cover its short term liabilities (€8.5B).
Long Term Liabilities: LDO's short term assets (€7.1B) exceed its long term liabilities (€4.7B).
Debt to Equity History and Analysis
Debt Level: LDO's net debt to equity ratio (22.4%) is considered satisfactory.
Reducing Debt: LDO's debt to equity ratio has reduced from 83.9% to 36% over the past 5 years.
Debt Coverage: LDO's debt is well covered by operating cash flow (48.9%).
Interest Coverage: LDO's interest payments on its debt are well covered by EBIT (44.6x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/18 17:33 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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 34 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrea Belloli | Banca Akros S.p.A. (ESN) |
| Joseph Campbell | Barclays |
| Afonso Osorio | Barclays |