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Leonardo SpAFINMF -0.43%84 Cash-to-Debt is 0.22 as of Jun. 2026, which is 55% below its 10-year median of 0.49. GuruFocus rates FINMF with a GF Score™ of 84/100 and a GF Value™ of $43.69 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 357 Aerospace & Defense companies, Leonardo SpA ranks worse than 79.27% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Leonardo SpA's cash to debt ratio for the quarter that ended in Jun. 2026 was 0.22.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Leonardo SpAcouldn't pay off its debt using the cash in hand for the quarter that ended in Jun. 2026.
The historical rank and industry rank for Leonardo SpA's Cash-to-Debt or its related term are showing as below:
FINMF'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.07 Med: 0.49 Max: No Debt
Current: 0.22
During the past 13 years, Leonardo SpA's highest Cash to Debt Ratio was No Debt. The lowest was 0.07. And the median was 0.49.
FINMF's Cash-to-Debt is ranked worse than 79.27% of 357
companies
in the Aerospace & Defense industry
Industry Median: 0.97
vs FINMF: 0.22
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Leonardo SpA Cash-to-Debt Related Terms
Leonardo SpA Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Leonardo SpA's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Aerospace & Defense subindustry, Leonardo SpA's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Leonardo SpA Cash-to-Debt vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Leonardo SpA's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Leonardo SpA's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Leonardo SpA (FINMF) has a Cash-to-Debt of 0.22 as of Jun. 2026. This is 55% below median its historical median of 0.49. Over the past decade, Leonardo SpA's Cash-to-Debt has ranged from 0.07 to 10,000.00. According to the industry distribution chart, Leonardo SpA ranks #283 out of 357 companies in the Aerospace & Defense industry, placing it in the top 79.3%.
Is Leonardo SpA's Cash-to-Debt too high?
Leonardo SpA's current Cash-to-Debt of 0.22 is 55% below median its 10-year median of 0.49. Over the past 10 years, this metric has ranged from a low of 0.07 to a high of 10,000.00. The Aerospace & Defense industry median Cash-to-Debt is 0.97. Leonardo SpA's value of 0.22 is 77.3% below this industry median. Based on the distribution chart, Leonardo SpA ranks #283 out of 357 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Leonardo SpA has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Leonardo SpA's Cash-to-Debt compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Leonardo SpA ranks #283 out of 357 companies for Cash-to-Debt. This places Leonardo SpA in the lower half of its industry. The industry median Cash-to-Debt is 0.97. Leonardo SpA's value of 0.22 is 77.3% below this benchmark. Historically, Leonardo SpA's own Cash-to-Debt has ranged from 0.07 to 10,000.00 over the past decade. While the company's 10-year median is 0.49 vs. the industry median of 0.97, Leonardo SpA has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Aerospace & Defense company?
The median Cash-to-Debt among Aerospace & Defense companies is 0.97, based on 357 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Leonardo SpA's current Cash-to-Debt of 0.22 is 77.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Aerospace & Defense industry, the median Cash-to-Debt is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Leonardo SpA's current Cash-to-Debt is 0.22, which is 55% below median its own 10-year median of 0.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Leonardo SpA stock overvalued right now?
Based on GuruFocus' analysis, Leonardo SpA (FINMF) is currently considered Significantly Overvalued. The stock's GF Value™ is $43.69, compared to a current price of $58.92 — trading 34.9% above its estimated fair value. The current Cash-to-Debt is 0.22, which is 55% below median its 10-year median of 0.49 and 77.3% below the Aerospace & Defense industry median of 0.97. Leonardo SpA's overall GF Score™ is 84/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Leonardo SpA (FINMF), the current Cash-to-Debt is 0.22 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Leonardo SpA (FINMF) Overvalued in 2026?
Based on GuruFocus' analysis, Leonardo SpA stock appears to be overvalued.
The current stock price of $58.92 is trading 34.9% above its estimated GF Value™ of $43.69.
GuruFocus considers Leonardo SpA to be Significantly Overvalued.
Key valuation signals for FINMF:
Cash-to-Debt: 0.22 (55% below median its 10-year median of 0.49)
GF Value™: $43.69 vs. price of $58.92 (34.9% above fair value)
Industry Position: 77.3% below the Aerospace & Defense median (#283 of 357)
No single metric tells the full story. See the FINMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Leonardo is a leading European security firm, with 30.2% of shares owned by the Italian government. Divisions include helicopters, defence electronics & security, aeronautics, cyber & security solutions, and space.The helicopter division serves both military and civil markets. Defence electronics & security accesses the US market through the Leonardo DRS subsidiary. Aeronautics integrates aircraft and aerostructures, participating in major programs like Eurofighter, F-35, and the Global Combat Air Programme, or GCAP. It also supplies large structural components to major commercial aircraft programs. Leonardo is currently evolving from a defense firm into a data-driven global security company.
84GF Score
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