Company Valuation: BAE Systems plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,381 26,285 33,599 34,267 51,026 59,299 - -
Change - 51.22% 27.83% 1.99% 48.91% 16.21% - -
Enterprise Value (EV) 1 19,541 28,308 36,063 41,142 56,639 63,917 63,518 62,605
Change - 44.86% 27.4% 14.08% 37.67% 12.85% -0.62% -1.44%
P/E 10.1x 17x 18.4x 17.9x 25.2x 27x 23.2x 20.8x
PBR 2.36x 2.35x 3.21x 2.98x 4.36x 4.88x 4.64x 4.3x
PEG - -2.21x 0.9x 2.92x 4.14x 1.9x 1.4x 1.8x
Capitalization / Revenue 0.82x 1.13x 1.33x 1.21x 1.66x 1.79x 1.64x 1.52x
EV / Revenue 0.92x 1.22x 1.43x 1.45x 1.85x 1.93x 1.76x 1.61x
EV / EBITDA 6.68x 8.72x 10.4x 10x 12.6x 13.5x 12.4x 11.3x
EV / EBIT 8.86x 11.4x 13.4x 13.6x 17x 17.4x 15.7x 14.1x
EV / FCF 10.5x 13.2x 13.9x 16.4x 26.2x 28.3x 24.3x 21.2x
FCF Yield 9.54% 7.58% 7.19% 6.09% 3.81% 3.53% 4.11% 4.71%
Dividend per Share 2 0.251 0.27 0.3 0.33 0.363 0.3864 0.4466 0.4992
Rate of return 4.57% 3.15% 2.7% 2.87% 2.12% 1.85% 2.13% 2.38%
EPS 2 0.547 0.505 0.604 0.641 0.68 0.7764 0.9039 1.009
Distribution rate 45.9% 53.5% 49.7% 51.5% 53.4% 49.8% 49.4% 49.5%
Net sales 1 21,310 23,256 25,284 28,335 30,662 33,197 36,147 38,956
EBITDA 1 2,925 3,246 3,469 4,112 4,495 4,729 5,142 5,543
EBIT 1 2,205 2,479 2,682 3,015 3,322 3,670 4,058 4,425
Net income 1 1,758 1,591 1,857 1,956 2,062 2,337 2,664 2,936
Net Debt 1 2,160 2,023 2,464 6,875 5,613 4,619 4,219 3,307
Reference price 2 5.50 8.56 11.10 11.48 17.14 20.94 20.94 20.94
Nbr of stocks (in thousands) 3,161,416 3,070,678 3,025,615 2,983,629 2,977,003 2,831,835 - -
Announcement Date 24/02/22 23/02/23 21/02/24 19/02/25 18/02/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.25x1.93x13.6x1.9% 79.84B
42.33x7.6x31.58x0.5% 374B
36.02x3.3x19.49x1.32% 290B
35.36x5.08x22.22x0.97% 163B
19.16x1.84x13.21x2.4% 134B
22.65x1.91x15.66x1.65% 104B
18.73x1.95x13.87x1.79% 77.07B
32.55x3.61x15.81x1.32% 61.04B
22.94x2.53x13.82x1.8% 51.59B
Average 28.55x 3.31x 17.70x 1.52% 148.2B
Weighted average by Cap. 32.78x 4.29x 21.21x 1.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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