Leonardo SpAFINMF +6.53%84 3-Year ROIIC % is 10.28 as of Dec. 2025, which is 62% above its 10-year median of 6.35. GuruFocus rates FINMF with a GF Score™ of 84/100 and a GF Value™ of $34.85 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 321 Aerospace & Defense companies, Leonardo SpA ranks better than 61.99% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Leonardo SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 10.28%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Leonardo SpA's 3-Year ROIIC % or its related term are showing as below:
FINMF's 3-Year ROIIC % is ranked better than 61.99% of 321
companies
in the Aerospace & Defense industry
Industry Median: 3.84
vs FINMF: 10.28
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Leonardo SpA 3-Year ROIIC % Related Terms
Leonardo SpA 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Leonardo SpA's 3-Year ROIIC % 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.
For the Aerospace & Defense subindustry, Leonardo SpA's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Leonardo SpA's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Leonardo SpA's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Leonardo SpA (FINMF) has a 3-Year ROIIC % of 10.28 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Leonardo SpA and its competitors. This is 62% above median its historical median of 6.35. According to the industry distribution chart, Leonardo SpA ranks #122 out of 321 companies in the Aerospace & Defense industry, placing it in the top 38%.
Is Leonardo SpA's 3-Year ROIIC % too high?
Leonardo SpA's current 3-Year ROIIC % of 10.28 is 62% above median its 10-year median of 6.35. The Aerospace & Defense industry median 3-Year ROIIC % is 3.84. Leonardo SpA's value of 10.28 is 167.7% above this industry median. Based on the distribution chart, Leonardo SpA ranks #122 out of 321 companies in the Aerospace & Defense industry, which is above the industry midpoint. 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 3-Year ROIIC % compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Leonardo SpA ranks #122 out of 321 companies for 3-Year ROIIC %. This puts Leonardo SpA in the upper half of its industry. The industry median 3-Year ROIIC % is 3.84. Leonardo SpA's value of 10.28 is 167.7% above this benchmark. While the company's 10-year median is 6.35 vs. the industry median of 3.84, Leonardo SpA has consistently been above 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 3-Year ROIIC % for an Aerospace & Defense company?
The median 3-Year ROIIC % among Aerospace & Defense companies is 3.84, based on 321 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Leonardo SpA's current 3-Year ROIIC % of 10.28 is 167.7% above 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Leonardo SpA and its competitors. For the Aerospace & Defense industry, the median 3-Year ROIIC % is 3.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Leonardo SpA's current 3-Year ROIIC % is 10.28, which is 62% above median its own 10-year median of 6.35. 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 $34.85, compared to a current price of $60.29 — trading 73% above its estimated fair value. The current 3-Year ROIIC % is 10.28, which is 62% above median its 10-year median of 6.35 and 167.7% above the Aerospace & Defense industry median of 3.84. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Leonardo SpA (FINMF), the current 3-Year ROIIC % is 10.28 as of Dec. 2025. 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 $60.29 is trading 73% above its estimated GF Value™ of $34.85.
GuruFocus considers Leonardo SpA to be Significantly Overvalued.
Key valuation signals for FINMF:
3-Year ROIIC %: 10.28 (62% above median its 10-year median of 6.35)
GF Value™: $34.85 vs. price of $60.29 (73% above fair value)
Industry Position: 167.7% above the Aerospace & Defense median (#122 of 321)
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.
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