Leonardo S.p.a., an industrial and technological company (FINMF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Leonardo S.p.a., an industrial and technological company $40.13, price $54.00, upside -25.7%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Leonardo S.p.a., an industrial and technological company
FINMF · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range $4.32 – $75.42 · fair‑value band $28.09 – $52.16 · the $54.00 price screens above the $40.13 fair value. Dashed = 300-day average. As of Oct 3, 2026.
Company profile
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.
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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. It 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. The company also provides trainers, fighters, multi-mission transport, and multi-mission surveillance aircraft; command and controls, radars and sensors, optronics, communication systems, electronic warfare, avionics, defense system, and air traffic management; defense systems comprising turrets and canons, munitions, and torpedoes; and cyber security and resilience, critical communications, digitalization, and global monitoring solutions. In addition, it offers geoinformation, satellite communications, ground systems, navigation, and satellite operations; interplanetary probes and orbiting modules; and robotics and drilling, electro-optics, laser transmitters, atomic clocks, photovoltaic panels, power distributors and amplifiers, attitude sensors, and orbital micro propulsion. Further, the company engages in the production and assembly of major structural composite and metallic components for commercial and military aircraft, helicopters, and uncrewed aircraft. Additionally, it designs and manufactures heavy-duty quarry and construction vehicles for the mining and construction industry. The company was formerly known as Leonardo " Finmeccanica S.p.a. and changed its name to Leonardo S.p.a. in January 2017. Leonardo S.p.a. was founded in 1948 and is headquartered in Rome, Italy.
Stock analysis
Leonardo S.p.a., an industrial and technological company, (FINMF) currently trades at $54.00, while our model-based Fair Value estimate is $40.13, 25.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $46.99 per share, and 3 of the 23 models we run sit above the $54.00 price.
Bear case: the Asset-Based group reads lowest at $12.50, and 20 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: $28.09 (bear) to $52.16 (bull), the price of $54.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Leonardo S.p.a., an industrial and technological company, reported revenue of €19.5B in FY2025 versus €14.1B in FY2021, a compound +8.4%/yr. Reported net income was €1.2B in FY2025, compounding +20.2%/yr from FY2021.
Key figures
Market cap $35.0B · P/E ratio 20.8 · P/S ratio 1.31 · EPS (TTM) $2.59 · Dividend yield 1.2% · Net margin 6.3% · Return on equity 13.1% · Return on assets (EBIT) 3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at −26%, FINMF screens richer than that median.
Fair Value models
All 23 models by family
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Set up alert →Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 33
Revenue & earnings trend
Growth Forecast
FINMF screens overvalued: fair value 26% below the price. Compare with General Electric Company →
Earlier news
- How New Naval and Tactical Contracts Will Impact Leonardo DRS (DRS) Investors
- HawkEye 360 and Leonardo Sign MOU to Deliver Sovereign Signals Capability
- Leonardo DRS Awarded $96 Million in Contracts to Provide Critical MK 41 Vertical Launching System Electronics Hardware
Compare Leonardo S.p.a., an industrial and technological company, with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 227 stocks
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $312.29 | $92.61 | −70% |
| RTX Corporation RTX | $185.01 | $88.30 | −52% |
| Airbus SE AIR | €185.60 | €112.14 | −40% |
| Lockheed Martin Corporation LMT | $509.25 | $439.62 | −14% |
| Howmet Aerospace Inc HWM | $230.94 | $52.67 | −77% |
| General Dynamics Corporation GD | $334.16 | $274.19 | −18% |
| Northrop Grumman Corporation NOC | $504.61 | $382.98 | −24% |
| TransDigm Group TDG | $1,116 | $1,228 | +10% |
| Thales S.A HO | €222.70 | €170.99 | −23% |
| Rheinmetall AG RHM | €956.90 | €313.19 | −67% |
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Key figures of Leonardo S.p.a., an industrial and technological company,
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