Leonardo stock falls 1.40 percent as buyback supports valuation

Published on 09/22/2026 at 19:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Leonardo stock closed at EUR 49.90 on September 22, 2026, down 1.40 percent on Euronext Milan. H1 orders rose 45 percent to EUR 16 billion.

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Leonardo stock (ISIN IT0003856405) closed at EUR 49.90 on Euronext Milan at 5:39 p.m. local time on September 22, 2026, down 1.40 percent from the prior close. The latest company disclosure adds a measurable support factor: Leonardo bought 121,000 shares at a weighted average EUR 49.4813 on September 15, 2026.

Buyback adds a valuation floor

According to Leonardo on September 21, 2026, the purchase represented 0.0209 percent of the share capital and had a total consideration of EUR 5,987,234.88. Since the programme began, the company has accumulated 1,001,000 treasury shares for EUR 47.23 million, according to the same disclosure.

The market price therefore finished EUR 0.4187, or 0.85 percent, above the latest weighted average repurchase price. That comparison does not establish a valuation floor, but it shows that the September 22 closing level remained close to the price at which the company recently bought stock.

H1 orders rose 45 percent

Leonardo's latest reported interim figures cover the first half of 2026. The company reported new orders of EUR 16 billion, up 45 percent year on year, while revenue reached EUR 10 billion, an increase of 12 percent.

According to Leonardo, H1 2026 EBITA was EUR 780 million, up 34 percent year on year, while free cash flow was negative EUR 249 million, an improvement of 39 percent. The combination matters: order growth and EBITA expansion were strong, but cash conversion remained negative in the first half.

The company also upgraded its fiscal 2026 guidance for orders, EBITA and free cash flow in the H1 update dated July 28, 2026. For investors, the next reporting focus is whether the improved operating result converts into cash while the enlarged order book supports revenue beyond the first half.

Stock closes below EUR 50

Leonardo stock ended September 22, 2026, at EUR 49.90 on Euronext Milan, with the quoted daily change at minus 1.40 percent. The closing level was only EUR 0.42 above the latest buyback price of EUR 49.4813, keeping the buyback and cash-flow figures central to the current share-price assessment.