Fincantieri SpA FCT

Stock XMIL Rating as of Oct 2, 2026

€12.12 −0.25 (1.98%)

As of Oct 2, 2026, 3:37:21 PM Delayed Price Closed

Company Report

Fincantieri: Defense and Underwater Expansion Supports Margins, but Execution Risk Remains

Loredana Muharremi Sep 29, 2026

Fincantieri’s strategy is centered on repositioning the group from a traditional shipbuilder to a technology-driven defense and underwater systems integrator, capable of capturing higher-margin, capital-light growth across its global portfolio. The transformation underway reflects a deliberate rebalancing of exposure between cruise and defense, with a structural shift toward naval, underwater, and specialized vessels that offer superior profitability, improved working capital, and recurring service potential.

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Price vs Fair Value

View History

FCT is trading at a LOCK|d^?$W^? premium.

Price

€12.12

Oct 2, 2026

Fair Value

May 12, 2026

Uncertainty

LOCK|jH

1-Star Price: LOCK|.m
5-Star Price: LOCK|.F@
Economic Moat: LOCK|<pbG
Capital Allocation: LOCK|#Kj?>^y

Bulls Say, Bears Say

Bulls

Europe’s defense spending rising toward 3.5% of GDP underpins multiyear visibility across naval programs.

Bears

Cruise exposure remains cyclical, with potential order volatility tied to macro and consumer trends.

Trading Information

Previous Close Price: €12.37
Day Range: €11.82–12.43
52-Week Range: €9.62–27.38
Bid/Ask: €11.90 / €12.20
Shares Outstanding: 359.63M
Market Cap: €4.36B
Volume/Avg: 3M / 3M

Key Statistics

Price/Earnings (Normalized): 23.06
Price/Sales: 0.50
Dividend Yield (Trailing): 0.00%
Dividend Yield (Forward): 0.00%
Dividend Payment Schedule: —
Total Yield: —

Company Profile

Fincantieri is one of the world’s largest shipbuilding groups, operating across the defense, commercial, and specialized maritime sectors. The company designs and builds a wide range of vessels, including cruise ships, naval combatants, submarines, and offshore and specialized ships. It also provides lifecycle support and system integration services. Fincantieri is organized into four main divisions—shipbuilding; equipment, systems, and infrastructure; offshore and specialized vessels; and underwater systems—covering the full spectrum of defense and commercial shipbuilding.

Sector: Industrials
Industry: Aerospace & Defense
Stock Style Box: Mid Growth
Total Number of Employees: 24,000
Website: https://www.fincantieri.com

Competitors

Valuation

Metric	FCT	KOG	BA.
Price/Earnings (Normalized)	23.06	45.71	25.87
Price/Book Value	2.74	22.22	4.60
Price/Sales	0.50	6.57	2.00
Price/Cash Flow	9.13	35.49	17.06

Price/Earnings

FCT

KOG

BA.

Financial Strength

Metric	FCT	KOG	BA.
Quick Ratio	0.74	0.68	0.91
Current Ratio	0.91	0.88	1.02
Interest Coverage	1.88	27.55	6.15

Quick Ratio

FCT

KOG

BA.

Profitability

Metric	FCT	KOG	BA.
Return on Assets (Normalized)	1.98%	7.89%	6.27%
Return on Equity (Normalized)	17.90%	30.68%	20.36%
Return on Invested Capital (Normalized)	7.63%	24.93%	12.60%

Return on Assets

FCT

KOG

BA.

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