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 63,943 - -
Change - 51.22% 27.83% 1.99% 48.91% 25.31% - -
Enterprise Value (EV) 1 19,541 28,308 36,063 41,142 56,639 68,659 68,013 67,063
Change - 44.86% 27.4% 14.08% 37.67% 21.22% -0.94% -1.4%
P/E 10.1x 17x 18.4x 17.9x 25.2x 29x 25x 22.2x
PBR 2.36x 2.35x 3.21x 2.98x 4.36x 5.4x 5.02x 4.63x
PEG - -2.21x 0.9x 2.92x 4.14x 2x 1.5x 1.8x
Capitalization / Revenue 0.82x 1.13x 1.33x 1.21x 1.66x 1.92x 1.76x 1.63x
EV / Revenue 0.92x 1.22x 1.43x 1.45x 1.85x 2.06x 1.87x 1.71x
EV / EBITDA 6.68x 8.72x 10.4x 10x 12.6x 14.5x 13.1x 11.9x
EV / EBIT 8.86x 11.4x 13.4x 13.6x 17x 18.7x 16.6x 15x
EV / FCF 10.5x 13.2x 13.9x 16.4x 26.2x 30.4x 26.1x 22.7x
FCF Yield 9.54% 7.58% 7.19% 6.09% 3.81% 3.29% 3.84% 4.4%
Dividend per Share 2 0.251 0.27 0.3 0.33 0.363 0.3965 0.4473 0.5027
Rate of return 4.57% 3.15% 2.7% 2.87% 2.12% 1.76% 1.98% 2.23%
EPS 2 0.547 0.505 0.604 0.641 0.68 0.7776 0.9033 1.015
Distribution rate 45.9% 53.5% 49.7% 51.5% 53.4% 51% 49.5% 49.5%
Net sales 1 21,310 23,256 25,284 28,335 30,662 33,295 36,343 39,300
EBITDA 1 2,925 3,246 3,469 4,112 4,495 4,732 5,176 5,614
EBIT 1 2,205 2,479 2,682 3,015 3,322 3,675 4,087 4,484
Net income 1 1,758 1,591 1,857 1,956 2,062 2,331 2,647 2,938
Net Debt 1 2,160 2,023 2,464 6,875 5,613 4,717 4,070 3,120
Reference price 2 5.50 8.56 11.10 11.48 17.14 22.58 22.58 22.58
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.04x2.06x14.51x1.76% 86.63B
43.3x7.77x32.29x0.49% 382B
36.84x3.4x20.04x1.28% 301B
36.09x5.32x22.56x0.91% 173B
19.98x1.91x13.72x2.3% 140B
23.28x1.96x16.09x1.59% 107B
20.19x2.09x14.86x1.66% 83.23B
35.01x3.88x17x1.18% 64.95B
24.2x2.65x14.54x1.71% 54.34B
Average 29.77x 3.45x 18.40x 1.43% 154.73B
Weighted average by Cap. 33.72x 4.41x 21.77x 1.21%

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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