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Leonardo SpA Az nom Post raggruppamento LDO

Morningstar Rating
€19.00 −0.08 (0.42%)
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Company Report

Leonardo: We Reinitiate Coverage With a Narrow Moat and EUR 16.6 Fair Value Estimate

Leonardo has a well-diversified portfolio across geographies and platforms, with 83% of its revenue from defense and 17% from civil. Escalating global security concerns are driving higher growth in the defense market, which will be uninterrupted for at least several years, as many countries in Europe have underspent since the end of the Cold War. The company is strategically well positioned to benefit given its significant stakes in a broad array of major international defense projects.

Price vs Fair Value

LDO is trading at a 14% premium.
Price
€19.00
Fair Value
€62.20
Uncertainty
Medium
1-Star Price
€48.95
5-Star Price
€71.22
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

With best-in-class margins and a leading share, Leonardo is well positioned to capitalize on an improved outlook for intermediate-size civil helicopter demand.

Bears

The aerostructure business has been in constant restructuring mode and could continue to be a drag on returns.

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Trading Information

Previous Close Price
€19.08
Day Range
€18.9419.14
52-Week Range
€9.9019.58
Bid/Ask
€18.96 / €19.10
Market Cap
€10.93 Bil
Volume/Avg
1.8 Mil / 3.3 Mil

Key Statistics

Price/Earnings (Normalized)
9.88
Price/Sales
0.70
Dividend Yield (Trailing)
0.74%
Dividend Yield (Forward)
0.74%
Total Yield
0.74%

Company Profile

Leonardo is one of the largest European defense firms, with 30% of its shares owned by the Italian government. The group’s divisions include helicopters; defense, electronics, and security systems; and aeronautics. The helicopter division serves both military and civil markets through AgustaWestland. DES has access to the U.S. defense market through the DRS subsidiary. The aeronautics division cooperates in international programs, such as Eurofighter Typhoon, F-35, and the new Tempest, and supplies aerostructures to large commercial aircraft programs.
Sector
Industrials
Industry
Aerospace & Defense
Stock Style Box
Mid Core
Total Number of Employees
51,000
See how this stock stacks up to its competitors with Morningstar Investor

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