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Leonardo S.p.a. LDO.MI

IT · Borsa Italiana · XMIL · stock · Industrials · website

Leonardo S.p.a. statistics & valuation

Market cap€34.2B
P / E27.9×
P / S1.8×
P / B3.6×
P / FCF46.6×
Net margin6.3%
FCF margin3.8%
Net debt€1.3B
Enterprise value USD$40.9B
Earnings yield EBIT/EV4.8%
Return on capital11.5%
Graham number -52.6%€28.13

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€28.13); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.30% 4.30% 6.00% 6.30% 2022202320242025
Gross margin (%)
10.60% 10.80% 11.30% 11.60% 2022202320242025
Operating margin (%)
6.10% 6.60% 7.40% 8.80% 2022202320242025
Return on equity (%)
12.90% 8.40% 11.90% 12.80% 2022202320242025
Shares outstanding
576.9M 576.9M 576.9M 576.9M 2022202320242025
Net debt (€)
€3.10B €2.52B €2.14B €1.25B 2022202320242025
Share buybacks (€)
€0 €30.0M 2022202320242025
Return on assets (%)
3.20% 2.10% 3.20% 3.50% 2022202320242025
Free cash flow margin (%)
2.70% 2.60% 3.60% 3.80% 2022202320242025
Debt / equity (×)
0.64× 0.63× 0.52× 0.47× 2022202320242025
EPS (€)
€1.61 €1.14 €1.86 €2.12 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Leonardo S.p.a. trades at about 27.9× earnings — above its 10-year norm (10-year range 5.9×–26.5×, median 16.2×).

5.9× 27.9×

Shaded band = 10-year range (5.9×–26.5×); dot = today's 27.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin11.6%11.3%10.8%10.6%
Operating margin8.8%7.4%6.6%6.1%
Net margin6.3%6.0%4.3%6.3%
FCF margin3.8%3.6%2.6%2.7%
Return on assets3.5%3.2%2.1%3.2%
Return on equity12.8%11.9%8.4%12.9%
Debt / equity0.14×0.20×0.30×0.42×
Current ratio0.980.970.960.96

Computed from company filings · IT · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.