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 60,205 - -
Change - 51.22% 27.83% 1.99% 48.91% 17.99% - -
Enterprise Value (EV) 1 19,541 28,308 36,063 41,142 56,639 64,921 64,275 63,325
Change - 44.86% 27.4% 14.08% 37.67% 14.62% -1% -1.48%
P/E 10.1x 17x 18.4x 17.9x 25.2x 27.3x 23.5x 20.9x
PBR 2.36x 2.35x 3.21x 2.98x 4.36x 5.09x 4.72x 4.36x
PEG - -2.21x 0.9x 2.92x 4.14x 1.9x 1.5x 1.7x
Capitalization / Revenue 0.82x 1.13x 1.33x 1.21x 1.66x 1.81x 1.66x 1.53x
EV / Revenue 0.92x 1.22x 1.43x 1.45x 1.85x 1.95x 1.77x 1.61x
EV / EBITDA 6.68x 8.72x 10.4x 10x 12.6x 13.7x 12.4x 11.3x
EV / EBIT 8.86x 11.4x 13.4x 13.6x 17x 17.7x 15.7x 14.1x
EV / FCF 10.5x 13.2x 13.9x 16.4x 26.2x 28.8x 24.6x 21.5x
FCF Yield 9.54% 7.58% 7.19% 6.09% 3.81% 3.48% 4.06% 4.66%
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% 1.87% 2.1% 2.36%
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 21.26 21.26 21.26
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.($)
27.34x1.95x13.72x1.87% 82.06B
40.95x7.36x30.58x0.52% 361B
34.82x3.22x19.13x1.36% 283B
35.18x5.17x21.78x0.96% 170B
18.5x1.78x12.8x2.49% 130B
22.61x1.91x15.63x1.64% 104B
18.99x1.98x14.05x1.76% 78.28B
33.64x3.73x16.36x1.22% 62.95B
22.15x2.44x13.45x1.87% 49.67B
Average 28.24x 3.28x 17.50x 1.52% 146.79B
Weighted average by Cap. 32.04x 4.20x 20.72x 1.28%

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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