Leonardo is one of the European leaders in the design, manufacturing and marketing of aerospace defense systems. The company operates across diversified business segments spanning military helicopters, combat aircraft, defense systems, space technology, and cybersecurity solutions, with strong exposure to growing defense spending across NATO allies.
Cyborg Score Rationale
Strong financial performance with 16.17% revenue growth in 2024 and 63.22% earnings growth. Benefiting from elevated European defense budgets and NATO expansion, with robust order flow and strategic acquisitions in emerging areas like cybersecurity.
Top Insights
In the first nine months of 2025, New Orders increased significantly, reaching €18.2B (+23.4% compared to prior year)
Revenue diversified across defense systems (39.7%), helicopters (29.5%), aeronautical equipment (15.4%), space systems (5%), aerostructures (3.7%), and cybersecurity solutions (3.3%)
129 production sites globally with geographic revenue balance: Italy (18.2%), UK (12.3%), Europe (26.4%), US (23.2%), and other markets (19.9%)
Strong upside potential from European defense spending and strategic acquisitions, including satellite business consolidation
Named Competitors
Rheinmetall — German defense systems and automotive supplier
Thales — French aerospace and defense technology
Airbus — European aerospace and defense manufacturing
Saab — Swedish defense and aerospace systems
Recent Developments
(Feb 2026) Q4 2025 earnings release scheduled for Feb 24
(Q3 2025) €18.2B order backlog growth (+23.4% YoY) with improved 2025 guidance