🚀 VC round data is live in beta, check it out!
Leonardo Valuation Multiples
Discover revenue and EBITDA valuation multiples for Leonardo and similar public comparables like Elbit Systems, Bharat Electronics, Kongsberg, Saab and more.
Leonardo Overview
About Leonardo
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 US 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.
Founded
1948
HQ
Employees
53.6K
Website
Financials (LTM)
EV
$41B
Leonardo Financials
Leonardo reported last 12-month revenue of $24B and EBITDA of $3B.
In the same LTM period, Leonardo generated $3B in gross profit, $3B in EBITDA, and $1B in net income.
Revenue (LTM)
Leonardo P&L
In the most recent fiscal year, Leonardo reported revenue of $23B and EBITDA of $3B.
Leonardo expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $24B | XXX | $23B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Margin | 13% | XXX | 12% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 6% | XXX | XXX | XXX |
| Net Debt | — | — | $758M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Leonardo Stock Performance
Leonardo has current market cap of $39B, and enterprise value of $41B.
Market Cap Evolution
Leonardo's stock price is $68.32.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $41B | $39B | 0.0% | XXX | XXX | XXX | $2.50 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialLeonardo Valuation Multiples
Leonardo trades at 1.7x EV/Revenue multiple, and 14.2x EV/EBITDA.
EV / Revenue (LTM)
Leonardo Financial Valuation Multiples
As of April 19, 2026, Leonardo has market cap of $39B and EV of $41B.
Equity research analysts estimate Leonardo's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Leonardo has a P/E ratio of 27.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $39B | XXX | $39B | XXX | XXX | XXX |
| EV (current) | $41B | XXX | $41B | XXX | XXX | XXX |
| EV/Revenue | 1.7x | XXX | 1.8x | XXX | XXX | XXX |
| EV/EBITDA | 14.2x | XXX | 14.4x | XXX | XXX | XXX |
| EV/EBIT | 22.1x | XXX | 20.3x | XXX | XXX | XXX |
| EV/Gross Profit | 13.0x | XXX | 15.3x | XXX | XXX | XXX |
| P/E | 27.9x | XXX | 27.3x | XXX | XXX | XXX |
| EV/FCF | 34.6x | XXX | 36.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Leonardo Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Leonardo Margins & Growth Rates
Leonardo's revenue in the last 12 month grew by 10%.
Leonardo's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.0M for the same period.
Leonardo's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Leonardo's rule of X is 37% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Leonardo Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 10% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Growth | 16% | XXX | 14% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 23% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 37% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 3% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Leonardo Public Comps
See public comps and valuation multiples for other Aircraft & Space Systems and Defense Systems comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Leonardo | XXX | XXX | XXX | XXX | XXX | XXX |
| Elbit Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| Bharat Electronics | XXX | XXX | XXX | XXX | XXX | XXX |
| Kongsberg | XXX | XXX | XXX | XXX | XXX | XXX |
| Saab | XXX | XXX | XXX | XXX | XXX | XXX |
| Heico | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Leonardo M&A Activity
Leonardo acquired XXX companies to date.
Last acquisition by Leonardo was on XXXXXXXX, XXXXX. Leonardo acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Leonardo
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialLeonardo Investment Activity
Leonardo invested in XXX companies to date.
Leonardo made its latest investment on XXXXXXXX, XXXXX. Leonardo invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Leonardo
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Leonardo
| When was Leonardo founded? | Leonardo was founded in 1948. |
| Where is Leonardo headquartered? | Leonardo is headquartered in Italy. |
| How many employees does Leonardo have? | As of today, Leonardo has over 53K employees. |
| Who is the CEO of Leonardo? | Leonardo's CEO is Roberto Cingolani. |
| Is Leonardo publicly listed? | Yes, Leonardo is a public company listed on Borsa Italiana. |
| What is the stock symbol of Leonardo? | Leonardo trades under LDO ticker. |
| When did Leonardo go public? | Leonardo went public in 2005. |
| Who are competitors of Leonardo? | Leonardo main competitors are Elbit Systems, Bharat Electronics, Kongsberg, Saab. |
| What is the current market cap of Leonardo? | Leonardo's current market cap is $39B. |
| What is the current revenue of Leonardo? | Leonardo's last 12 months revenue is $24B. |
| What is the current revenue growth of Leonardo? | Leonardo revenue growth (NTM/LTM) is 10%. |
| What is the current EV/Revenue multiple of Leonardo? | Current revenue multiple of Leonardo is 1.7x. |
| Is Leonardo profitable? | Yes, Leonardo is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Leonardo? | Leonardo's last 12 months EBITDA is $3B. |
| What is Leonardo's EBITDA margin? | Leonardo's last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of Leonardo? | Current EBITDA multiple of Leonardo is 14.2x. |
| What is the current FCF of Leonardo? | Leonardo's last 12 months FCF is $1B. |
| What is Leonardo's FCF margin? | Leonardo's last 12 months FCF margin is 5%. |
| What is the current EV/FCF multiple of Leonardo? | Current FCF multiple of Leonardo is 34.6x. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.