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BAE Systems plc BA.L

GB · London Stock Exchange · XLON · stock · Industrials · website

BAE Systems plc statistics & valuation

Market cap£65.5B
P / E31.8×
P / S2.3×
P / B5.6×
P / FCF28.1×
Dividend yield1.57%
Net margin7.3%
Return on equity17.5%
FCF margin8.2%
Net debt£5.6B
Enterprise value USD$96.0B
Earnings yield EBIT/EV3.8%
Return on capital10.6%
Graham number -99.6%£7.84

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (£7.84); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.50% 8.00% 7.40% 7.30% 2022202320242025
Gross margin (%)
66.60% 65.90% 65.50% 65.20% 2022202320242025
Operating margin (%)
9.90% 10.00% 9.30% 9.50% 2022202320242025
Return on equity (%)
14.20% 17.60% 16.80% 17.50% 2022202320242025
Shares outstanding
2.93B 2.93B 2.93B 2.93B 2022202320242025
Net debt (£)
£3.75B £2.41B £6.88B £5.61B 2022202320242025
Share buybacks (£)
£788.0M £561.0M £555.0M £502.0M 2022202320242025
Return on assets (%)
5.10% 5.80% 5.10% 5.50% 2022202320242025
Free cash flow margin (%)
10.10% 12.10% 10.50% 8.20% 2022202320242025
Debt / equity (×)
0.61× 0.61× 0.88× 0.77× 2022202320242025
EPS (£)
£0.51 £0.60 £0.64 £0.68 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BAE Systems plc trades at about 3288.2× earnings — above its 10-year norm (10-year range 1696.6×–2902.9×, median 1948.7×).

1696.6× 3288.2×

Shaded band = 10-year range (1696.6×–2902.9×); dot = today's 3288.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin65.2%65.5%65.9%66.6%
Operating margin9.5%9.3%10.0%9.9%
Net margin7.3%7.4%8.0%7.5%
FCF margin8.2%10.5%12.1%10.1%
Return on assets5.5%5.1%5.8%5.1%
Return on equity17.5%16.8%17.6%14.2%
Debt / equity0.61×0.66×0.42×0.46×
Current ratio0.990.951.081.08

Computed from company filings · GB · as of 2025-12-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.