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 63,320 - -
Change - 51.22% 27.83% 1.99% 48.91% 24.09% - -
Enterprise Value (EV) 1 19,541 28,308 36,063 41,142 56,639 68,036 67,390 66,440
Change - 44.86% 27.4% 14.08% 37.67% 20.12% -0.95% -1.41%
P/E 10.1x 17x 18.4x 17.9x 25.2x 28.8x 24.8x 22x
PBR 2.36x 2.35x 3.21x 2.98x 4.36x 5.35x 4.97x 4.58x
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 1.9x 1.74x 1.61x
EV / Revenue 0.92x 1.22x 1.43x 1.45x 1.85x 2.04x 1.85x 1.69x
EV / EBITDA 6.68x 8.72x 10.4x 10x 12.6x 14.4x 13x 11.8x
EV / EBIT 8.86x 11.4x 13.4x 13.6x 17x 18.5x 16.5x 14.8x
EV / FCF 10.5x 13.2x 13.9x 16.4x 26.2x 30.2x 25.8x 22.5x
FCF Yield 9.54% 7.58% 7.19% 6.09% 3.81% 3.32% 3.87% 4.44%
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% 1.77% 2% 2.25%
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 22.36 22.36 22.36
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 2/24/22 2/23/23 2/21/24 2/19/25 2/18/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
42.95x7.71x32.03x0.49% 379B
36.8x3.4x20.03x1.28% 300B
38.24x5.4x23.17x0.92% 173B
19.92x1.91x13.68x2.31% 140B
23.19x1.96x16.03x1.6% 106B
29.19x2.07x14.58x1.75% 86.82B
19.89x2.06x14.67x1.68% 82.02B
34.02x3.77x16.68x1.21% 62.92B
24.11x2.64x14.49x1.72% 54.14B
Average 29.81x 3.43x 18.37x 1.44% 153.89B
Weighted average by Cap. 33.81x 4.39x 21.73x 1.22%

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