Leonardo S.p.a.

BIT:LDO Stock Report

Market Cap: €26.7b

Leonardo Management

Management criteria checks 3/4

Leonardo's CEO is Lorenzo Mariani, appointed in May 2026, has a tenure of less than a year. total yearly compensation is €2.56M, comprised of 33.2% salary and 66.8% bonuses, including company stock and options. directly owns 0.002% of the company’s shares, worth €424.32K. The average tenure of the management team and the board of directors is 3.7 years and 3.1 years respectively.

Key information

Lorenzo Mariani

Chief executive officer

€2.6m

Total compensation

CEO salary percentage33.18%
CEO tenureless than a year
CEO ownership0.002%
Management average tenure3.7yrs
Board average tenure3.1yrs

Recent management updates

Recent updates

Narrative Update • Jun 25

LDO: Higher Fair Value Will Rely On New Leadership Execution

Leonardo's analyst price target has been updated to €83.00 from €82.00, with analysts citing revised assumptions on discount rates, revenue growth, profit margins and P/E expectations as they incorporate the latest mix of target raises, trims and rating changes from recent research. Analyst Commentary Recent research on Leonardo highlights a split view, with some firms increasing price targets and others turning more cautious.
Narrative Update • Jun 08

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.
Narrative Update • May 25

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.
Narrative Update • May 10

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.
Analysis Article • May 09

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...
Narrative Update • Nov 03

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.
Narrative Update • Oct 20

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.
Narrative Update • Oct 05

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.
Analysis Article • Sep 24

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...
Narrative Update • Sep 20

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.
Narrative Update • Sep 04

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.
Analysis Article • Sep 03

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...
Analysis Article • Aug 20

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...
Analysis Article • Aug 07

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...
Analysis Article • Jul 06

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...
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New Narrative • Nov 12

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.

CEO Compensation Analysis

How has Lorenzo Mariani's remuneration changed compared to Leonardo's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

€1b

Dec 31 2025n/an/a

€1b

Sep 30 2025n/an/a

€1b

Jun 30 2025n/an/a

€1b

Mar 31 2025n/an/a

€721m

Dec 31 2024€3m€850k

€1b

Sep 30 2024n/an/a

€1b

Jun 30 2024n/an/a

€966m

Mar 31 2024n/an/a

€1b

Dec 31 2023€2m€458k

€658m

Compensation vs Market: Lorenzo's total compensation ($USD2.92M) is about average for companies of similar size in the Italian market ($USD3.84M).

Compensation vs Earnings: Lorenzo's compensation has increased by more than 20% in the past year.

CEO

Lorenzo Mariani

less than a year
Tenure
€2,562,000
Compensation

Mr. Lorenzo Mariani is Chief Executive Officer and General Manager of Leonardo S.p.a. from May 2026. He served as Chief Commercial Officer of Leonardo S.p.a. Mr. Mariani served as the Head of Land & Naval...

Leadership Team

NamePositionTenureCompensationOwnership
Lorenzo Mariani
GM & CEOless than a year€2.56m0.0016%
€ 424.3k
Giuseppe Aurilio
Chief Financial Officerless than a yearno datano data
Franco Ongaro
Chief Technology & Innovation Officer4.3yrsno datano data
Valeria Ricciotti
Head of Investor Relations & Credit Rating Agenciesno datano datano data
Federico Bonaiuto
General Counsel3yrsno datano data
Elena Napolitano
Chief Compliance Officer3yrsno datano data
Giuseppe Maresca
Senior Vice President of Marketing & Commercial Affairsno datano datano data
Antonio Liotti
Chief People & Organization Officer4.6yrsno datano data
Raffaella Luglini
Chief Sustainability Officerno datano datano data
Gian Cutillo
Managing Director of Helicopters Division8.7yrsno datano data
Lucio Cioffi
General Manager8.4yrs€1.19mno data
Marco Fani
Head of Naval & Underwater Defense Systems Business Developmentno datano datano data
3.7yrs
Average Tenure

Experienced Management: LDO's management team is considered experienced (3.7 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Maurizio Tucci
Lead Independent Directorless than a yearno datano data
Elena Vasco
Independent Director3.1yrs€126.00kno data
Luca Rossi
Chairman of Statutory Auditors7.6yrsno datano data
Roberto Diacetti
Independent Directorless than a yearno datano data
Francesco Macri
Independent Chairman3.4yrs€131.00kno data
Enrica Giorgetti
Independent Director3.1yrs€126.00kno data
Trifone Altieri
Independent Director3.1yrs€129.00kno data
Dominique Levy
Independent Director3.4yrs€131.00k0.0029%
€ 787.3k
Cristina Manara
Independent Director3.1yrs€142.00kno data
Elena Grifoni
Independent Directorless than a yearno datano data
Rosina Veltri
Independent Directorless than a yearno datano data
Francesco Soro
Independent Directorless than a yearno datano data
3.1yrs
Average Tenure
58yo
Average Age

Experienced Board: LDO's board of directors are considered experienced (3.1 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/29 16:43
End of Day Share Price 2026/06/26 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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 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.

AnalystInstitution
Andrea BelloliBanca Akros S.p.A. (ESN)
Joseph CampbellBarclays
Afonso OsorioBarclays