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 54,495 - -
Change - 51.22% 27.83% 1.99% 48.91% 6.8% - -
Enterprise Value (EV) 1 19,541 28,308 36,063 41,142 56,639 59,726 59,161 58,319
Change - 44.86% 27.4% 14.08% 37.67% 5.45% -0.95% -1.42%
P/E 10.1x 17x 18.4x 17.9x 25.2x 24.4x 21.2x 19.2x
PBR 2.36x 2.35x 3.21x 2.98x 4.36x 4.54x 4.22x 3.93x
PEG - -2.21x 0.9x 2.92x 4.14x 1.5x 1.4x 1.8x
Capitalization / Revenue 0.82x 1.13x 1.33x 1.21x 1.66x 1.64x 1.51x 1.41x
EV / Revenue 0.92x 1.22x 1.43x 1.45x 1.85x 1.8x 1.64x 1.51x
EV / EBITDA 6.68x 8.72x 10.4x 10x 12.6x 12.8x 11.5x 10.6x
EV / EBIT 8.86x 11.4x 13.4x 13.6x 17x 16.4x 14.7x 13.3x
EV / FCF 10.5x 13.2x 13.9x 16.4x 26.2x 27.7x 23x 19.8x
FCF Yield 9.54% 7.58% 7.19% 6.09% 3.81% 3.61% 4.35% 5.05%
Dividend per Share 2 0.251 0.27 0.3 0.33 0.363 0.3954 0.4443 0.4936
Rate of return 4.57% 3.15% 2.7% 2.87% 2.12% 2.05% 2.31% 2.57%
EPS 2 0.547 0.505 0.604 0.641 0.68 0.7894 0.906 1.003
Distribution rate 45.9% 53.5% 49.7% 51.5% 53.4% 50.1% 49% 49.2%
Net sales 1 21,310 23,256 25,284 28,335 30,662 33,215 35,977 38,744
EBITDA 1 2,925 3,246 3,469 4,112 4,495 4,667 5,123 5,512
EBIT 1 2,205 2,479 2,682 3,015 3,322 3,635 4,037 4,394
Net income 1 1,758 1,591 1,857 1,956 2,062 2,322 2,682 2,980
Net Debt 1 2,160 2,023 2,464 6,875 5,613 5,231 4,666 3,824
Reference price 2 5.50 8.56 11.10 11.48 17.14 19.24 19.24 19.24
Nbr of stocks (in thousands) 3,161,416 3,070,678 3,025,615 2,983,629 2,977,003 2,832,378 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
40.2x7.24x30.1x0.53% 354B
33.96x3.08x18.28x1.47% 262B
36.74x4.94x22.45x0.88% 153B
17.21x1.68x11.82x2.73% 119B
22.34x1.88x15.38x1.71% 101B
18.19x1.9x13.53x1.85% 74.62B
28.77x3.17x13.94x1.49% 53.53B
24.57x2.6x14.48x1.74% 53.12B
Average 27.75x 3.31x 17.50x 1.55% 146.29B
Weighted average by Cap. 31.84x 4.24x 20.82x 1.3%

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