Valuation Leonardo S.p.A.

Equities

Market Closed - Borsa Italiana Other stock markets 09:15:00 17/04/2026 pm IST			5-day change	1st Jan Change
57.69 ^EUR	0.00%		+2.45%	+17.35%

17/04	Spain's Indra, Italy's Leonardo to produce 34 amphibious combat vehicles for Spain	RE
17/04	Indra and IDV (Leonardo) ink deal for Spanish Navy infantry combat vehicle	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	3,624	4,637	8,592	14,918	28,338	33,284	-	-
Change	-	27.97%	85.3%	73.62%	89.96%	17.45%	-	-
Enterprise Value (EV) ¹	6,746	4,637	10,915	16,713	29,339	33,695	32,882	31,851
Change	-	-31.26%	135.4%	53.11%	75.55%	14.85%	-2.41%	-3.14%
P/E ratio	6.18x	5x	13.1x	13.9x	23.2x	26.6x	21.7x	18x
PBR	0.56x	-	1.1x	1.66x	2.97x	3.19x	2.91x	2.58x
PEG	-	0.1x	-0.5x	0.2x	1.7x	12.49x	1x	0.9x
Capitalization / Revenue	0.26x	0.32x	0.56x	0.84x	1.45x	1.56x	1.43x	1.29x
EV / Revenue	0.48x	0.32x	0.71x	0.94x	1.5x	1.58x	1.41x	1.24x
EV / EBITDA	4.15x	2.63x	5.8x	7.53x	12.1x	12.2x	10.5x	9.07x
EV / EBIT	6.01x	3.81x	8.47x	11x	16.7x	16.5x	13.9x	11.6x
EV / FCF	32.3x	-	17.2x	20.2x	29x	30.9x	25.9x	20.5x
FCF Yield	3.1%	-	5.82%	4.94%	3.45%	3.24%	3.86%	4.87%
Dividend per Share ²	0.14	-	0.28	0.28	0.52	0.6904	0.8042	0.8979
Rate of return	2.22%	-	1.87%	1.08%	1.06%	1.2%	1.39%	1.56%
EPS ²	1.019	1.611	1.144	1.862	2.122	2.167	2.662	3.204
Distribution rate	13.7%	-	24.5%	15%	24.5%	31.9%	30.2%	28%
Net sales ¹	14,135	14,713	15,291	17,763	19,503	21,349	23,354	25,711
EBITDA ¹	1,626	1,763	1,883	2,219	2,429	2,761	3,119	3,512
EBIT ¹	1,123	1,218	1,289	1,525	1,752	2,038	2,365	2,756
Net income ¹	585	927	658	1,074	1,224	1,241	1,526	1,818
Net Debt ¹	3,122	-	2,323	1,795	1,001	410.8	-401.4	-1,433
Reference price ²	6.30	8.06	14.94	25.93	49.16	57.69	57.69	57.69
Nbr of stocks (in thousands)	5,75,174	5,75,307	5,75,307	5,75,307	5,76,437	5,76,944	-	-
Announcement Date	10/03/22	10/03/23	29/02/24	11/03/25	12/03/26	-	-	-

¹EUR in Million²EUR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
LEONARDO S.P.A.	26.62x	1.58x	12.2x	1.2%	3.93TCr
GE AEROSPACE	36.42x	6.75x	28.14x	0.58%	32TCr
RTX CORPORATION	34.74x	3.12x	18.5x	1.47%	26TCr
ROLLS-ROYCE HOLDINGS PLC	35.34x	4.7x	21.44x	0.94%	15TCr
NORTHROP GRUMMAN CORPORATION	23.76x	2.36x	16.72x	1.47%	9.45TCr
BAE SYSTEMS PLC	28.83x	2.19x	15.59x	1.75%	9.14TCr
GENERAL DYNAMICS CORPORATION	20.63x	1.73x	14.22x	1.88%	9.09TCr
RHEINMETALL AG	41.43x	4.75x	20.81x	1.06%	8.19TCr
L3HARRIS TECHNOLOGIES, INC.	30.41x	3.13x	17.13x	1.42%	6.54TCr
HANWHA AEROSPACE CO., LTD.	31.77x	2.58x	14.88x	0.39%	5.01TCr
Average	30.99x	3.29x	17.96x	1.22%	12.43TCr
Weighted average by Cap.	32.77x	4.04x	20.38x	1.15%