BAE SYSTEMS PLC (BSP.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:BSP • GB0002634946

21.69 EUR
+0.3 (+1.4%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to BSP. BSP was compared to 54 industry peers in the Aerospace & Defense industry. BSP scores excellent on profitability, but there are concerns on its financial health. BSP has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • BSP had positive earnings in the past year.
  • In the past year BSP had a positive cash flow from operations.
  • Each year in the past 5 years BSP has been profitable.
  • Each year in the past 5 years BSP had a positive operating cash flow.
BSP.DE Yearly Net Income VS EBIT VS OCF VS FCFBSP.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.49%, BSP is in the better half of the industry, outperforming 74.07% of the companies in the same industry.
  • BSP has a better Return On Equity (18.24%) than 70.37% of its industry peers.
  • BSP's Return On Invested Capital of 8.70% is fine compared to the rest of the industry. BSP outperforms 61.11% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for BSP is in line with the industry average of 9.36%.
  • The last Return On Invested Capital (8.70%) for BSP is above the 3 year average (8.62%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.49%
ROE 18.24%
ROIC 8.7%
ROA(3y)5.33%
ROA(5y)5.43%
ROE(3y)16.2%
ROE(5y)20.05%
ROIC(3y)8.62%
ROIC(5y)8.6%
BSP.DE Yearly ROA, ROE, ROICBSP.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

  • BSP has a better Profit Margin (7.21%) than 62.96% of its industry peers.
  • BSP's Profit Margin has declined in the last couple of years.
  • BSP has a Operating Margin of 9.05%. This is comparable to the rest of the industry: BSP outperforms 55.56% of its industry peers.
  • In the last couple of years the Operating Margin of BSP has remained more or less at the same level.
  • BSP has a Gross Margin of 62.97%. This is amongst the best in the industry. BSP outperforms 90.74% of its industry peers.
  • In the last couple of years the Gross Margin of BSP has remained more or less at the same level.
Industry RankSector Rank
OM 9.05%
PM (TTM) 7.21%
GM 62.97%
OM growth 3Y-1.32%
OM growth 5Y-0.72%
PM growth 3Y-6.19%
PM growth 5Y-1.61%
GM growth 3Y0.6%
GM growth 5Y0.2%
BSP.DE Yearly Profit, Operating, Gross MarginsBSP.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BSP is destroying value.
  • Compared to 1 year ago, BSP has less shares outstanding
  • BSP has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, BSP has a worse debt to assets ratio.
BSP.DE Yearly Shares OutstandingBSP.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B
BSP.DE Yearly Total Debt VS Total AssetsBSP.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • An Altman-Z score of 2.69 indicates that BSP is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.69, BSP perfoms like the industry average, outperforming 48.15% of the companies in the same industry.
  • BSP has a debt to FCF ratio of 4.53. This is a neutral value as BSP would need 4.53 years to pay back of all of its debts.
  • The Debt to FCF ratio of BSP (4.53) is better than 64.81% of its industry peers.
  • A Debt/Equity ratio of 0.79 indicates that BSP is somewhat dependend on debt financing.
  • The Debt to Equity ratio of BSP (0.79) is worse than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.53
Altman-Z 2.69
ROIC/WACC0.84
WACC10.32%
BSP.DE Yearly LT Debt VS Equity VS FCFBSP.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 0.96 indicates that BSP may have some problems paying its short term obligations.
  • BSP has a worse Current ratio (0.96) than 81.48% of its industry peers.
  • A Quick Ratio of 0.84 indicates that BSP may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.84, BSP is in line with its industry, outperforming 55.56% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.96
Quick Ratio 0.84
BSP.DE Yearly Current Assets VS Current LiabilitesBSP.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • BSP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.76%, which is quite good.
  • The Earnings Per Share has been growing by 8.10% on average over the past years. This is quite good.
  • BSP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.60%.
  • BSP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.53% yearly.
EPS 1Y (TTM)10.76%
EPS 3Y12.56%
EPS 5Y8.1%
EPS Q2Q%10.97%
Revenue 1Y (TTM)11.6%
Revenue growth 3Y10.46%
Revenue growth 5Y7.53%
Sales Q2Q%9.12%

3.2 Future

  • The Earnings Per Share is expected to grow by 12.74% on average over the next years. This is quite good.
  • BSP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.23% yearly.
EPS Next Y12.15%
EPS Next 2Y12.51%
EPS Next 3Y12.08%
EPS Next 5Y12.74%
Revenue Next Year8.58%
Revenue Next 2Y7.84%
Revenue Next 3Y7.58%
Revenue Next 5Y6.23%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
BSP.DE Yearly Revenue VS EstimatesBSP.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 10B 20B 30B 40B
BSP.DE Yearly EPS VS EstimatesBSP.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.2 0.4 0.6 0.8 1

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5

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 26.45 indicates a quite expensive valuation of BSP.
  • 81.48% of the companies in the same industry are more expensive than BSP, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 27.93, BSP is valued at the same level.
  • The Price/Forward Earnings ratio is 22.00, which indicates a rather expensive current valuation of BSP.
  • Based on the Price/Forward Earnings ratio, BSP is valued cheaper than 81.48% of the companies in the same industry.
  • BSP is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.77, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 26.45
Fwd PE 22
BSP.DE Price Earnings VS Forward Price EarningsBSP.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, BSP is valued a bit cheaper than the industry average as 72.22% of the companies are valued more expensively.
  • 79.63% of the companies in the same industry are more expensive than BSP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 27.18
EV/EBITDA 17.3
BSP.DE Per share dataBSP.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • BSP has a very decent profitability rating, which may justify a higher PE ratio.
  • BSP's earnings are expected to grow with 12.08% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.18
PEG (5Y)3.27
EPS Next 2Y12.51%
EPS Next 3Y12.08%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • BSP has a Yearly Dividend Yield of 1.84%.
  • BSP's Dividend Yield is rather good when compared to the industry average which is at 0.76. BSP pays more dividend than 94.44% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, BSP has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.84%

5.2 History

  • The dividend of BSP is nicely growing with an annual growth rate of 6.50%!
Dividend Growth(5Y)6.5%
Div Incr Years3
Div Non Decr Years3
BSP.DE Yearly Dividends per shareBSP.DE Yearly Dividends per shareYearly Dividends per share 2018 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3

5.3 Sustainability

  • 50.43% of the earnings are spent on dividend by BSP. This is a bit on the high side, but may be sustainable.
  • BSP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP50.43%
EPS Next 2Y12.51%
EPS Next 3Y12.08%
BSP.DE Yearly Income VS Free CF VS DividendBSP.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B
BSP.DE Dividend Payout.BSP.DE Dividend Payout, showing the Payout Ratio.BSP.DE Dividend Payout.PayoutRetained Earnings

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BAE SYSTEMS PLC

FRA:BSP (2/6/2026, 7:00:00 PM)

21.69

+0.3 (+1.4%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)N/A
Earnings (Next)02-18
Inst Owners78.98%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap65.12B
Revenue(TTM)27.41B
Net Income(TTM)1.98B
Analysts77.78
Price Target24.72 (13.97%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.84%
Yearly Dividend0.36
Dividend Growth(5Y)6.5%
DP50.43%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.35%
PT rev (3m)1.66%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.75%
EPS NY rev (3m)-0.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.04%
Valuation
Industry RankSector Rank
PE 26.45
Fwd PE 22
P/S 2.06
P/FCF 27.18
P/OCF 17.43
P/B 5.21
P/tB N/A
EV/EBITDA 17.3
EPS(TTM)0.82
EY3.78%
EPS(NY)0.99
Fwd EY4.55%
FCF(TTM)0.8
FCFY3.68%
OCF(TTM)1.24
OCFY5.74%
SpS10.52
BVpS4.16
TBVpS-1.67
PEG (NY)2.18
PEG (5Y)3.27
Graham Number8.76
Profitability
Industry RankSector Rank
ROA 5.49%
ROE 18.24%
ROCE 10.18%
ROIC 8.7%
ROICexc 9.67%
ROICexgc 31.51%
OM 9.05%
PM (TTM) 7.21%
GM 62.97%
FCFM 7.59%
ROA(3y)5.33%
ROA(5y)5.43%
ROE(3y)16.2%
ROE(5y)20.05%
ROIC(3y)8.62%
ROIC(5y)8.6%
ROICexc(3y)10.37%
ROICexc(5y)10.33%
ROICexgc(3y)36.39%
ROICexgc(5y)39.39%
ROCE(3y)10.09%
ROCE(5y)10.07%
ROICexgc growth 3Y-7.69%
ROICexgc growth 5Y-4.95%
ROICexc growth 3Y-3.67%
ROICexc growth 5Y-3.08%
OM growth 3Y-1.32%
OM growth 5Y-0.72%
PM growth 3Y-6.19%
PM growth 5Y-1.61%
GM growth 3Y0.6%
GM growth 5Y0.2%
F-Score8
Asset Turnover0.76
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.53
Debt/EBITDA 2.36
Cap/Depr 99.06%
Cap/Sales 4.24%
Interest Coverage 4.22
Cash Conversion 88.72%
Profit Quality 105.16%
Current Ratio 0.96
Quick Ratio 0.84
Altman-Z 2.69
F-Score8
WACC10.32%
ROIC/WACC0.84
Cap/Depr(3y)105.99%
Cap/Depr(5y)90.56%
Cap/Sales(3y)3.94%
Cap/Sales(5y)3.33%
Profit Quality(3y)142.34%
Profit Quality(5y)118.6%
High Growth Momentum
Growth
EPS 1Y (TTM)10.76%
EPS 3Y12.56%
EPS 5Y8.1%
EPS Q2Q%10.97%
EPS Next Y12.15%
EPS Next 2Y12.51%
EPS Next 3Y12.08%
EPS Next 5Y12.74%
Revenue 1Y (TTM)11.6%
Revenue growth 3Y10.46%
Revenue growth 5Y7.53%
Sales Q2Q%9.12%
Revenue Next Year8.58%
Revenue Next 2Y7.84%
Revenue Next 3Y7.58%
Revenue Next 5Y6.23%
EBIT growth 1Y4.73%
EBIT growth 3Y9.01%
EBIT growth 5Y6.75%
EBIT Next Year41.71%
EBIT Next 3Y18.2%
EBIT Next 5Y15.1%
FCF growth 1Y-29.76%
FCF growth 3Y11.64%
FCF growth 5Y19.64%
OCF growth 1Y-15.35%
OCF growth 3Y17.06%
OCF growth 5Y19.7%

BAE SYSTEMS PLC / BSP.DE FAQ

Can you provide the ChartMill fundamental rating for BAE SYSTEMS PLC?

ChartMill assigns a fundamental rating of 5 / 10 to BSP.DE.


What is the valuation status of BAE SYSTEMS PLC (BSP.DE) stock?

ChartMill assigns a valuation rating of 5 / 10 to BAE SYSTEMS PLC (BSP.DE). This can be considered as Fairly Valued.


What is the profitability of BSP stock?

BAE SYSTEMS PLC (BSP.DE) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for BSP stock?

The Price/Earnings (PE) ratio for BAE SYSTEMS PLC (BSP.DE) is 26.45 and the Price/Book (PB) ratio is 5.21.


How sustainable is the dividend of BAE SYSTEMS PLC (BSP.DE) stock?

The dividend rating of BAE SYSTEMS PLC (BSP.DE) is 6 / 10 and the dividend payout ratio is 50.43%.