LEONARDO ADR 1/2/EO 440 (FMN) - Net Assets
Based on the latest financial reports, LEONARDO ADR 1/2/EO 440 (FMN) has net assets worth €10.74 Billion EUR (≈ $12.56 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€34.51 Billion ≈ $40.34 Billion USD) and total liabilities (€23.77 Billion ≈ $27.79 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Read FMN total liabilities for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €10.74 Billion |
| % of Total Assets | 31.12% |
| Annual Growth Rate | 13.57% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 5.87 |
LEONARDO ADR 1/2/EO 440 - Net Assets Trend (2021–2025)
This chart illustrates how LEONARDO ADR 1/2/EO 440's net assets have evolved over time, based on quarterly financial data. Also explore FMN current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for LEONARDO ADR 1/2/EO 440 (2021–2025)
The table below shows the annual net assets of LEONARDO ADR 1/2/EO 440 from 2021 to 2025. For live valuation and market cap data, see how much is LEONARDO ADR 1/2/EO 440 worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €10.74 Billion ≈ $12.56 Billion |
+5.29% |
| 2024-12-31 | €10.20 Billion ≈ $11.92 Billion |
+19.14% |
| 2023-12-31 | €8.56 Billion ≈ $10.01 Billion |
+11.20% |
| 2022-12-31 | €7.70 Billion ≈ $9.00 Billion |
+19.27% |
| 2021-12-31 | €6.46 Billion ≈ $7.55 Billion |
-- |
Equity Component Analysis
This analysis shows how different components contribute to LEONARDO ADR 1/2/EO 440's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €9.56 Billion | 100.00% |
| Total Equity | €9.56 Billion | 100.00% |
LEONARDO ADR 1/2/EO 440 Competitors by Market Cap
The table below lists competitors of LEONARDO ADR 1/2/EO 440 ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chunghwa Telecom Co
TW:2412
|
$33.24 Billion |
|
Guotai Junan Securities Co Ltd
SHG:601211
|
$33.31 Billion |
|
JSW Steel Limited
NSE:JSWSTEEL
|
$33.38 Billion |
|
LEGRAND UNSP.ARD 1/5 EO 4
F:LRC0
|
$33.38 Billion |
|
Carnival Corporation
NYSE:CCL
|
$33.03 Billion |
|
Ningxia Baofeng Energy Group Co Ltd
SHG:600989
|
$32.94 Billion |
|
NRG Energy Inc.
NYSE:NRG
|
$32.93 Billion |
|
ANSYS Inc
NASDAQ:ANSS
|
$32.91 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in LEONARDO ADR 1/2/EO 440's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,990,000,000 to 9,560,000,000, a change of 570,000,000 (6.3%).
- Net income of 1,224,000,000 contributed positively to equity growth.
- Dividend payments of 343,000,000 reduced retained earnings.
- Share repurchases of 30,000,000 reduced equity.
- Other factors decreased equity by 281,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €1.22 Billion | +12.8% |
| Dividends Paid | €343.00 Million | -3.59% |
| Share Repurchases | €30.00 Million | -0.31% |
| Other Changes | €-281.00 Million | -2.94% |
| Total Change | €- | 6.34% |
Book Value vs Market Value Analysis
This analysis compares LEONARDO ADR 1/2/EO 440's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.63x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.42x to 1.63x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €11.17 | €27.00 | x |
| 2022-12-31 | €12.49 | €27.00 | x |
| 2023-12-31 | €13.56 | €27.00 | x |
| 2024-12-31 | €15.60 | €27.00 | x |
| 2025-12-31 | €16.57 | €27.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently LEONARDO ADR 1/2/EO 440 utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.80%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.28%
- • Asset Turnover: 0.57x
- • Equity Multiplier: 3.61x
- Recent ROE (12.80%) is above the historical average (11.04%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 9.12% | 4.15% | 0.50x | 4.41x | €-56.80 Million |
| 2022 | 12.91% | 6.30% | 0.51x | 3.98x | €208.70 Million |
| 2023 | 8.44% | 4.30% | 0.50x | 3.94x | €-122.00 Million |
| 2024 | 11.95% | 6.05% | 0.53x | 3.75x | €175.00 Million |
| 2025 | 12.80% | 6.28% | 0.57x | 3.61x | €268.00 Million |
Industry Comparison
This section compares LEONARDO ADR 1/2/EO 440's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $13,809,845,108
- Average return on equity (ROE) among peers: 0.12%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| LEONARDO ADR 1/2/EO 440 (FMN) | €10.74 Billion | 9.12% | 2.21x | $33.03 Billion |
| CREOTECH INS.S.A. ZY -10 (5OB) | $91.37 Million | -15.70% | 0.89x | $407.03 Million |
| Airbus SE (AIRA) | $5.99 Billion | -22.74% | 18.10x | $133.51 Billion |
| AviChina Industry & Technology Company Limited (AVT) | $21.81 Billion | 3.27% | 1.34x | $2.64 Billion |
| Yangzijiang Shipbuilding (Holdings) Ltd (B8O) | $32.26 Billion | 26.78% | 0.81x | $10.48 Billion |
| BAE SYSTEMS ADR/4 LS-025 (BSPA) | $10.72 Billion | 17.32% | 1.99x | $76.97 Billion |
| Embraer S.A (EMY) | $4.18 Billion | 5.90% | 1.85x | $10.07 Billion |
| COSCO SHIPPING Development Co. Ltd. (EZ5) | $29.28 Billion | 4.81% | 3.30x | $468.50 Million |
| CSSC Offshore & Marine Engineering (Group) Co Ltd (GSZ) | $19.61 Billion | 0.25% | 1.59x | $1.00 Billion |
| Hensoldt AG (HAG) | $346.80 Million | -18.80% | 7.50x | $9.67 Billion |
About LEONARDO ADR 1/2/EO 440
Leonardo S.p.a., an industrial and technological company, engages in the helicopters, defense electronics and security, cyber security and solutions, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States of America, and internationally. It offers a range of helicopters for battlefield/personnel recovery, combat, maritime, training, VIP/executi… Read more