olivlawolivlaw

olivLaw · European equity research

LISI FII.PA

France · Euronext Paris · ISIN FR0000050353 · Vertical: Listed companies from France

64.10EUR−3.32% · 1 dayClose 05 Nov 2026

LISI is a French industrial group that makes fasteners and structural components for aerospace and components for the automotive industry. In 2025 its aerospace division reached a record level of sales, while the automotive division kept shrinking, which makes the balance between the two a key factor to watch.

At the close of 05 Nov 2026, LISI (FII.PA) stock was 64.10 EUR (−3.32% on the day), with market capitalisation 2.9 bn EUR, P/E 21.3 on diluted EPS of 3.01 EUR over the last 12 months, dividend yield 0.72%, beta 1.04, 52-week range 45.10–71.70 EUR.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
2.9 bn EUR
shares as of 31 Dec 2025
P/E (TTM)
21.3
Diluted EPS TTM 3.01 · TTM to 31 Dec 2025
E/P (TTM)
4.70%
TTM to 31 Dec 2025
Dividend yield
0.72%
DPS 12m 0.46
Beta (2y)
1.04
Volatility (1y) 37%
52-week range
45.1071.70

Price history

Loading chart…

Technical reading

RSI (14)
55.4
strong (55–70)
Bollinger (20, 2)
57.26 – 66.87
in the upper half of the band · %B 0.71 · band width 15.5%
SMA 50 / 200
61.50 / 61.42
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
1.11 / 0.65
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month+7.6%−0.6%+8.2 pp—
3 months−3.0%−4.2%+1.1 pp—
6 months−4.5%+4.3%−8.8 pp—
Year to date+20.7%+7.5%+13.2 pp—
1 year+39.3%+9.9%+29.4 pp−6.8%
3 years+196.1%+49.8%+146.2 pp−15.9%
5 years+157.4%+42.8%+114.6 pp—
Max drawdown (1y)
−23.0%
25 Feb 2026 → 19 Mar 2026
Max drawdown (5y)
−42.6%
19 Jan 2022 → 23 Sept 2022
Compound annual growth (5y)
+20.8%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 67 percentile of its own 3-quarter history (min 17.6, median 18.3, max 29.1; quarters with earnings only).

Fiscal years

Fiscal year202320242025
Revenue1.6 bn1.6 bn1.7 bn
Revenue YoYunavailable−1.3%+8.7%
Net income37.5 m56.0 m139.7 m
Net income YoYunavailable+49.2%+149.5%
Diluted EPS0.811.203.01
Diluted EPS YoYunavailable+48.1%+150.8%
net %2.3%3.5%8.0%
Free cash flowunavailableunavailableunavailable

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
270.4 m EUR
Financial debt
unavailable EUR
Net debt
unavailable EUR
Equity
1.1 bn EUR
Total assets
2.1 bn EUR
Debt / equity
unavailable
Current ratio
unavailable
ROE
13.3%
ROA
6.5%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (EUR)

Margins

Income statement · EUR

Revenue
2023
1.6 bn
2024
1.6 bn
2025
1.7 bn

esef· 07 Apr 2026verified

Operating income
2023
86.4 m
2024
75.6 m
2025
140.2 m

esef· 07 Apr 2026verified

Depreciation & amortisation
2023
100.9 m
2024
92.9 m
2025
92.9 m

esef· 07 Apr 2026verified

EBITDA
2023
187.3 m ≈
2024
168.5 m ≈
2025
233.1 m ≈

esef· 07 Apr 2026derived

Interest expense
2023
21.9 m
2024
30.6 m
2025
25.9 m

esef· 07 Apr 2026verified

Income tax
2023
24.1 m
2024
16.4 m
2025
24.5 m

esef· 07 Apr 2026verified

Net income
2023
37.5 m
2024
56.0 m
2025
139.7 m

esef· 07 Apr 2026verified

Diluted EPS
2023
0.81
2024
1.20
2025
3.01

esef· 07 Apr 2026verified

Dividend per share
2023
0.31
2024
0.39
2025
0.46

esef· 07 Apr 2026verified

Balance sheet · EUR

Cash
2023
139.3 m
2024
191.7 m
2025
270.4 m

esef· 07 Apr 2026verified

Receivables
2023
226.1 m
2024
245.0 m
2025
241.5 m

esef· 07 Apr 2026verified

Inventories
2023
437.3 m
2024
468.2 m
2025
460.7 m

esef· 07 Apr 2026verified

Property, plant & equipment, net
2023
746.9 m
2024
765.4 m
2025
—

esef· 15 Apr 2025verified

Goodwill
2023
406.7 m
2024
419.4 m
2025
318.0 m

esef· 07 Apr 2026verified

Intangibles (excl. goodwill)
2023
28.7 m
2024
29.7 m
2025
24.7 m

esef· 07 Apr 2026verified

Total assets
2023
2.1 bn
2024
2.2 bn
2025
2.1 bn

esef· 07 Apr 2026verified

Accounts payable
2023
356.0 m
2024
378.6 m
2025
359.8 m

esef· 07 Apr 2026verified

Equity
2023
938.7 m
2024
1.0 bn
2025
1.1 bn

esef· 07 Apr 2026verified

Shares outstanding at year end
2023
45.2 m
2024
45.5 m
2025
45.7 m

esef· 07 Apr 2026derived

Cash flow · EUR

Operating cash flow
2023
136.9 m
2024
186.8 m
2025
197.1 m

esef· 07 Apr 2026verified

Investing cash flow
2023
-99.8 m
2024
-105.8 m
2025
132.1 m

esef· 07 Apr 2026verified

Financing cash flow
2023
-61.2 m
2024
-43.8 m
2025
-208.2 m

esef· 07 Apr 2026verified

Share repurchases
2023
204.6 m
2024
0
2025
—

esef· 15 Apr 2025verified

Computed indicators

Growth

Revenue growth (YoY)
8.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
85.3%
computed by olivLawFY 2025
Net income growth (YoY)
149.5%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
150.8%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
13.3%
computed by olivLawFY 2025
EBIT margin
8.0%
computed by olivLawFY 2025
Net margin
8.0%
computed by olivLawFY 2025
FCF margin
unavailable
input data missing

Returns

ROE
13.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
6.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
unavailable
input data missing
Payout ratio (EPS)
15.3%
computed by olivLawFY 2025
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
5.4x
computed by olivLawFY 2025

Liquidity

Current ratio
unavailable
input data missing
Quick ratio
unavailable
input data missing
Cash ratio
unavailable
input data missing

Cash

Operating cash flow
197.1 m EUR
computed by olivLawFY 2025
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
84.6%
computed by olivLawFY 2025

Efficiency

Days sales outstanding
51 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
2.9 bn EUR
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
20.9x
computed by olivLawFY 2025
P/E (TTM)
21.3x
computed by olivLawFY 2025
Earnings yield
4.7%
computed by olivLawFY 2025
P/B
2.7x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
1.7x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
0.7%
computed by olivLawFY 2025
Shareholder yield (distributions)
0.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 29.2% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

64.10 EUR

05 Nov 2026Source: olivLaw, closing series

Market cap: 2.9 bn EUR

Key indicators

Market capitalisation
2.9 bn EUR
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
21.3x
computed by olivLawFY 2025
P/B
2.7x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
13.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
8.0%
computed by olivLawFY 2025
Revenue growth (YoY)
8.7%
computed by olivLawFY 2025
Dividend yield
0.7%
computed by olivLawFY 2025

Coverage and freshness

23/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: esefpublished 07 Apr 2026
verified 68derived 3

Score by group

29% · Insufficient data

Estimated value range

Low
33.39
EUR per share
Mid
51.56
EUR per share
High
89.70
EUR per share
Price: 64.10 EUR
The price is within the range
Potential to the central value: -19.6% (value / price − 1)
Margin of safety: -24.3% (1 − price / value)
Agreement between methods: single method · 1 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 33.39 – 89.70 EUR.

Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (EUR per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E33.39 – 89.70 (Mid 51.56)
    20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x
    74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
  • Dividend discount (DDM)outside the aggregate6.26 – 8.53 (Mid 7.22)
    a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 29.2% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality8.0%85 (vs peers)21%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet5.4x60 (on a fixed band)21%
Current ratio · Balance sheetunavailableunavailable—
P/E (TTM) · Valuation21.3x43 (vs peers)36%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returns0.0%0 (on a fixed band)21%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial60/100 · 1/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality· partial85/100 · 1/3 factors with a value
  • Returns· partial0/100 · 1/2 factors with a value
  • Valuation· partial43/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

LISI (FII.PA). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 1.7 bn EUR in 2025; YoY growth 8.7%; net margin 8.0%; ROE 13.4%.

The estimated value range is 33.39–89.70 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 51.56 EUR, the price of 64.10 EUR leaves a potential of -19.6% (value / price − 1) and a margin of safety of -24.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 29.2% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Net margin: 8.0%

What contradicts it

  • Shareholder yield (distributions): 0.0%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, FCF yield, Payout ratio (FCF).

Versus the vertical median

Listed companies from France · same country · compared with 39 companies

Multiples and returns vs the median

P/E
21.3x
vertical median 18.3x
above median (+16.6%)
EV/EBITDA
—
vertical median 6.3x
P/S
1.7x
vertical median 0.5x
above median (+227.1%)
P/B
2.7x
vertical median 1.1x
above median (+155.6%)
ROE
13.4%
vertical median 4.2%
above median (+222.7%)
Net margin
8.0%
vertical median 1.1%
above median (+609.3%)
EBIT margin
8.0%
vertical median 3.2%
above median (+152.5%)
Revenue YoY
8.7%
vertical median 0.6%
above median (+1,369.8%)
Net debt/EBITDA
—
vertical median -1.2x
Dividend yield
0.7%
vertical median 1.7%
below median (−57.8%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude109.3 bn33.212.9%12.2%−2.0%+26% / +32%
AC.PAAccor13.8 bn30.79.6%8.0%+0.6%+6% / +56%
ADP.PAAeroports De Paris11.7 bn34.17.8%5.6%+12.1%−7% / +4%
AKE.PAArkema7.1 bn115.40.9%0.7%−5.0%+12% / −37%
ALO.PAAlstom5.8 bn18.33.1%1.7%+3.7%−51% / −4%
AF.PAAir France - Klm4.3 bn13.6—1.0%+4.8%+20% / +9%
ATE.PAAlten3.1 bn29.54.8%2.6%−1.1%+33% / −29%
FII.PALisi2.9 bn21.313.4%8.0%+8.7%+31% / +186%
BB.PASociete Bic2.7 bn31.35.0%4.1%−4.8%+32% / +5%
ANTIN.PAAntin Infrastructure Partners1.4 bn13.021.9%36.6%−8.1%−24% / −35%
74SW.PA74software792.7 m20.98.9%8.5%+44.8%−13% / +41%
AUB.PAAubay667.4 m17.813.6%6.3%+11.3%+3% / +45%
ASY.PAAssystem507.1 m69.92.5%1.1%+7.4%−19% / −18%
ATO.PAAtos Se483.0 m—-23,400.0%-17.5%−16.5%−45% / −94%
ARAMI.PAAramis Group298.8 m15.010.0%0.8%+6.3%−33% / −16%
ARVEN.PAArverne Group246.1 m—-14.0%-115.3%+27.0%+20% / −35%
BGO.PACompagnie Chargeurs Invest189.4 m—-8.6%-5.7%−2.9%unavailable / unavailable
ALCIS.PACatering International & Services145.0 m28.49.3%1.9%+5.8%+39% / +107%
ALCGM.PACegedim144.6 m—-2.6%-1.2%+10.9%−26% / −49%
ATEME.PAAteme144.0 m151.32.8%1.0%+2.2%+82% / +77%
ALHEX.PAHexaom144.0 m6.79.9%2.2%+13.1%−32% / +7%
ALBON.PACompagnie Lebon111.7 m16.54.2%8.8%−17.9%+6% / +8%
ALHYF.PALhyfe75.8 m—-33.4%-570.5%+287.2%unavailable / unavailable
ALFER.PASergeferrari Group61.5 m11.55.1%1.5%+7.4%−33% / −27%
ABEO.PAAbeo60.8 m7.36.9%3.0%+12.6%−13% / −54%

1- and 3-year price returns: for FII.PA from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (EUR)

Estimated priceBearBaseBull
1 years
40.13
Total return -37% · Per year -37%
70.80
Total return 11% · Per year 11%
106.46
Total return 67% · Per year 67%
3 years
42.26
Total return -32% · Per year -12%
83.58
Total return 33% · Per year 10%
137.52
Total return 118% · Per year 30%
5 years
44.51
Total return -27% · Per year -6%
98.67
Total return 59% · Per year 10%
177.63
Total return 183% · Per year 23%
What moves the 3-year price the most
  • Exit P/E± 20.90
  • Net margin± 14.63
  • Annual revenue growth± 11.55
  • Annual dilution± 1.23

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

LISI is a French industrial group that makes fasteners and structural components for aerospace and components for the automotive industry. In 2025 its aerospace division reached a record level of sales, while the automotive division kept shrinking, which makes the balance between the two a key factor to watch.

SWOT

Strengths

  • The aerospace division reached record sales and operating income, with a rise for four consecutive years 1.
  • Leverage indicators improved substantially after the disposal of LISI MEDICAL, giving a comfortable safety margin 1.
  • A leading position in selected niches and relations with major aircraft manufacturers support good long-term visibility 1.

Weaknesses

  • The automotive division depends on the production of customer manufacturers, which declined in 2025, reducing that division's revenues 1.
  • The group still carries a significant volume of financial debt, so interest costs matter for earnings 1.
  • The productivity of the aerospace division depended on heavy hiring in earlier years, and personnel costs remain high 1.

Opportunities

  • Rising Airbus and Boeing production rates could generate new volumes for fasteners and structural components if output follows plan 1.
  • The helicopter and military segments offer complementary demand that could reduce dependence on major civil programmes 1.
  • A lower break-even point in the automotive division could improve margins if customer production recovers 1.

Threats

  • Uncertainty in the global car market persists and could prolong pressure on volumes and prices in the automotive division 1.
  • Tariff policies and currency fluctuations can affect the costs and revenues of a group operating in several countries 1.
  • Supply chain delays in aerospace can affect delivery pace and may generate contractual penalties 1.

Risks

  • Dependence on automotive productionmedium

    The automotive division is exposed to the slowdown in customer production, which reduced sales in 2025 and could prolong pressure on results 1.

  • Supply chain delaysmedium

    If delays in aerospace supply resume, deliveries and production rates could be affected, and the group could have to pay penalties for late deliveries 1.

  • Currency and tariff exposuremedium

    International activity exposes the group to tariff policies and currency movements, which can change costs and margins 1.

  • Financial debtlow

    Financial debt remains significant, and a breach of financial covenants could allow lenders to call loans early 1.

  • Litigation and environmentlow

    The group has set up provisions for historical soil pollution at a plant in the United States and for disputes with partners, and final costs could exceed current estimates 1.

Investment thesis

What would need to be true (bull case)

  • The aerospace division has grown for four years in a row, with solid demand and long-term visibility, which could support another improvement in results if production rates hold 1.
  • The improvement in leverage indicators after the disposal of LISI MEDICAL gives the group more financial flexibility for investment or debt reduction 1.
  • A lower break-even point in the automotive division could improve margins even in a difficult market, if customer production recovers 1.

What would break the thesis

  • The automotive division declined in 2025, and uncertainty in the global market could prolong this trend and weigh on group revenues 1.
  • The aerospace division depends on the production pace of a few large manufacturers, and any delays could quickly reduce volumes and results 1.
  • Tariff policies and currency moves could erode margins, especially if the group cannot pass its costs on to customers 1.

What to watch

  • Evolution of Airbus A320 and A350 production rates and of orders for Boeing programmes2026
  • Inventory levels and free cash flow in the aerospace division2026
  • Break-even point and operating margin in the LISI AUTOMOTIVE division2026
  • Compliance with financial covenants and debt levels after the disposal of LISI MEDICALnext 10-K

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

LISI is an industrial group organised into two main divisions: LISI AEROSPACE, which makes fasteners and structural components for civil and military aviation, and LISI AUTOMOTIVE, which makes parts for automotive customers. According to the annual report for the year ended 31 December 2025 1, the group completed the disposal of LISI MEDICAL in that year, and net financial debt fell noticeably as a result.

The group operates through a network of plants in France, the United States, Germany, the United Kingdom, China and Hungary 1. The aerospace division depends on production rates of major manufacturers, and the automotive division on the production of its customers worldwide. The group structure was adjusted in 2025, with LISI AUTOMOTIVE Hungary entering the scope and LISI MEDICAL leaving it.

Financially, the group reported a cash flow from operations of 164.5 M EUR in 2025 1 and kept its leverage ratios below the thresholds set in its financing contracts. Management stated its aim to improve its key financial indicators for a fourth consecutive year, which could depend on the evolution of aerospace demand and the macroeconomic environment 1.

Segments

LISI AUTOMOTIVE

The automotive division reported sales of 558.5 M EUR in 2025, down 3.7 % from 2024, due to a decline in the global production of its customer manufacturers 1. Management indicated that lowering the division's break-even point remains a priority given the persistent uncertainty in the car market 1.

Market context

The global commercial aerospace market remains solid, with high order volumes at the main manufacturers 1. Production rates for the Airbus A320 family are rising, from 64 aircraft per month currently toward a target of 75 per month in 2027 1. Production rates for Boeing's B737 MAX and B787 programmes recovered in 2025 1, and the helicopter and military segments, which account for about 15 % of the division's activity, support long-term demand 1.

The global car market remains uncertain and has seen customer production decline, while tariff policies and currency movements are risk factors for the whole group 1. In such an environment, reducing the fixed costs of the automotive division is a stated direction of management 1.

Trends

  • Faster aerospace production ratestailwind

    Rising civil aircraft production, especially for the A320 and A350, supports the volumes of the aerospace division and could keep improving productivity if output follows plan 1.

  • Weak appetite in the automotive industryheadwind

    The decline in global production of automotive customers reduced the automotive division's sales in 2025 and keeps pressure on margins if the decline continues 1.

  • Tariff policies and currency ratesmixed

    The evolution of tariff policies and currency parities is a source of uncertainty that the group monitors, and a factor that could affect costs and revenues 1.

  • Lower inventories and working capitaltailwind

    A reduction in inventory levels, especially raw materials, supported cash flow in aerospace 1. If the process continues in 2026, it could further support free cash flow.

Competitive position

Competition in the aerospace division includes global fastener and structural component producers, and in automotive the group faces precision parts suppliers that serve the same manufacturers. The annual report does not detail the names of competitors, so the analysis of comparative position is limited to what the group states 1.

The group presents itself as a world leader in its selected niches, and consolidating these positions depends on productivity, production capacity and relations with major strategic customers 1. The renewal of major contracts in 2025 was mentioned as a source of market share gains 1.

  • Global aerospace fastener makers

    Companies supplying fasteners and hydraulic fittings to the same aircraft manufacturers; not named in the source.

  • Aerospace structural component suppliers

    Producers of forged parts and leading edges competing with the Structural Components division.

  • Automotive precision parts suppliers

    Companies delivering components to the same automotive manufacturers, not named in the annual report.

  • Brake and transmission system makers

    Indirect competitors for the aluminium and steel precision parts delivered to automotive customers.

News & filings

In the press

No news in our archive over the last 180 days.

Annual reports (ESEF)

Sources

  1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / LISI · 31 Dec 2025

Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.