(BSP) BAE Systems - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: XETRA (Germany) | Market Cap: 67.776m EUR | Total Return: 0.8% in 12m
Avg Turnover: 1.42M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
BAE Systems plc is a global defense, aerospace, and security contractor headquartered in London. The company operates across five core segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. Its portfolio includes the manufacturing of combat vehicles, munitions, and submarines, alongside the development of advanced electronic warfare systems and cyber security solutions for government entities.
The business model relies heavily on long-term government contracts and multi-national defense programs, such as the Eurofighter and MBDA partnerships. In the aerospace and defense sector, high barriers to entry exist due to the intensive research and development requirements and the necessity for stringent security clearances and sovereign regulatory approvals.
Investors can further evaluate these fundamentals by reviewing the detailed financial metrics available on ValueRay.
- NATO defense spending increases drive long-term military aircraft and land platform demand
- Global geopolitical instability accelerates backlog growth across maritime and electronic warfare segments
- High-margin electronic systems and cyber intelligence contracts expand overall corporate profitability
- Supply chain constraints and skilled labor shortages impact delivery timelines for major programs
| Net Income: 4.02b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 4.86 > 1.0 |
| NWC/Revenue: -0.29% < 20% (prev 2.40%; Δ -2.68% < -1%) |
| CFO/TA 0.19 > 3% & CFO 7.16b > Net Income 4.02b |
| Net Debt (8.71b) to EBITDA (7.75b): 1.12 < 3 |
| Current Ratio: 0.99 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.03b) vs 12m ago -1.12% < -2% |
| Gross Margin: 36.09% > 18% (prev 0.61%; Δ 3.55k% > 0.5%) |
| Asset Turnover: 156.7% > 50% (prev 107.9%; Δ 48.79% > 0%) |
| Interest Coverage Ratio: 5.37 > 6 (EBITDA TTM 7.75b / Interest Expense TTM 1.02b) |
| A: -0.00 (Total Current Assets 12.2b - Total Current Liabilities 12.3b) / Total Assets 37.7b |
| B: 0.12 (Retained Earnings 4.57b / Total Assets 37.7b) |
| C: 0.16 (EBIT TTM 5.49b / Avg Total Assets 34.9b) |
| D: 0.18 (Book Value of Equity 4.65b / Total Liabilities 25.8b) |
| Altman-Z'' = 1.62 = BB |
| DSRI: 0.97 (Receivables 7.15b/4.66b, Revenue 54.7b/34.6b) |
| GMI: 1.69 (GM 36.09% / 61.01%) |
| AQI: 1.04 (AQ_t 0.50 / AQ_t-1 0.48) |
| SGI: 1.58 (Revenue 54.7b / 34.6b) |
| TATA: -0.08 (NI 4.02b - CFO 7.16b) / TA 37.7b) |
| Beneish M = -2.07 (Cap -4..+1) = BB |
As of May 26, 2026, the stock is trading at EUR 22.95 with a total of 14,380 shares traded.
Over the past week, the price has changed by +5.86%,
over one month by -2.34%,
over three months by -4.45% and
over the past year by +0.77%.
BAE Systems has no consensus analysts rating.
Market Cap GBP = 58.5b (67.8b EUR * 0.8633 EUR.GBP)
P/E Trailing = 29.2278
P/E Forward = 22.4215
P/S = 2.3919
P/B = 4.9747
P/EG = 3.1341
Revenue TTM = 54.7b GBP
EBIT TTM = 5.49b GBP
EBITDA TTM = 7.75b GBP
Long Term Debt = 7.19b GBP (from longTermDebt, last quarter)
Short Term Debt = 348.2m GBP (from shortTermDebt, last quarter)
Debt = 12.3b GBP (from shortLongTermDebtTotal, last quarter) + Leases 1.77b
Net Debt = 8.71b GBP (calculated: Debt 12.3b - CCE 3.62b)
Enterprise Value = 67.2b GBP (58.5b + Debt 12.3b - CCE 3.62b)
Interest Coverage Ratio = 5.37 (Ebit TTM 5.49b / Interest Expense TTM 1.02b)
EV/FCF = 13.23x (Enterprise Value 67.2b / FCF TTM 5.08b)
FCF Yield = 7.56% (FCF TTM 5.08b / Enterprise Value 67.2b)
FCF Margin = 9.30% (FCF TTM 5.08b / Revenue TTM 54.7b)
Net Margin = 7.35% (Net Income TTM 4.02b / Revenue TTM 54.7b)
Gross Margin = 36.09% ((Revenue TTM 54.7b - Cost of Revenue TTM 34.9b) / Revenue TTM)
Gross Margin QoQ = 9.16% (prev 8.44%)
Tobins Q-Ratio = 1.78 (Enterprise Value 67.2b / Total Assets 37.7b)
Interest Expense / Debt = 8.29% (Interest Expense 1.02b / Debt 12.3b)
Taxrate = 17.57% (243.2m / 1.38b)
NOPAT = 4.53b (EBIT 5.49b * (1 - 17.57%))
Current Ratio = 0.99 (Total Current Assets 12.2b / Total Current Liabilities 12.3b)
Debt / Equity = 1.05 (Debt 12.3b / totalStockholderEquity, last quarter 11.8b)
Debt / EBITDA = 1.12 (Net Debt 8.71b / EBITDA 7.75b)
Debt / FCF = 1.72 (Net Debt 8.71b / FCF TTM 5.08b)
Total Stockholder Equity = 11.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.52% (Net Income 4.02b / Total Assets 37.7b)
RoE = 35.33% (Net Income TTM 4.02b / Total Stockholder Equity 11.4b)
RoCE = 29.58% (EBIT 5.49b / Capital Employed (Equity 11.4b + L.T.Debt 7.19b))
RoIC = 17.59% (NOPAT 4.53b / Invested Capital 25.7b)
WACC = 6.09% (E(58.5b)/V(70.8b) * Re(5.93%) + D(12.3b)/V(70.8b) * Rd(8.29%) * (1-Tc(0.18)))
Discount Rate = 5.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -94.39 | Cagr: -2.60%
[DCF] Terminal Value 77.97% ; FCFF base≈4.15b ; Y1≈4.76b ; Y5≈7.01b
[DCF] Fair Price = 32.95 (EV 105b - Net Debt 8.71b = Equity 96.7b / Shares 2.94b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: 99.17 | Revenue CAGR: 10.43% | SUE: N/A | # QB: 0