Fincantieri SpA

FCT: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Fincantieri: Fair Value Estimate Cut to EUR 23 After Capital Increase; Long-Term Thesis Intact

Loredana Muharremi

Feb 20, 2026

Fincantieri shares fell 12% after a EUR 500 million accelerated capital increase, despite management reaffirming, at the CMD, its medium-term plan for about EUR 12.5 billion of revenue and an EBITDA margin of around 10% by 2030, driven by defense growth, underwater expansion, and productivity gains.

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Fincantieri SpA

Fincantieri: Fair Value Estimate Cut to EUR 23 After Capital Increase; Long-Term Thesis Intact

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