Home

Stock Ideas

Long Ideas

Industrial

Summary

Leonardo remains a Buy with a new $70.57 price target, implying 15% upside based on a refined 3-year EV/EBITDA valuation.

Leonardo exceeded 2025 guidance, posting 10.9% revenue growth, 18.2% EBITA growth, and 20.5% free cash flow growth, with strong order momentum across segments.

Margin expansion is underway, with EBITDA margins expected to rise steadily and free cash flow inflecting in 2027; net cash position anticipated by 2027.

Multi-domain presence, especially in cyber and joint ventures, positions Leonardo to capitalize on global and European defense spending growth.

Looking for a helping hand in the market? Members of The Aerospace Forum get exclusive ideas and guidance to navigate any climate. Learn More »

gettinthere/iStock via Getty Images

Shares of European aerospace and defense giant Leonardo S.p.a. ( FINMY )( FINMF ) has gained 3.7% since my last report .…