BAE SYSTEMS PLC (BSP.DE) Fundamental Analysis & Valuation

FRA:BSP • GB0002634946

25.81 EUR
+0.47 (+1.85%)
Last: Mar 4, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This BSP.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to BSP. BSP was compared to 49 industry peers in the Aerospace & Defense industry. BSP has a medium profitability rating, but doesn't score so well on its financial health evaluation. BSP is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. BSP.DE Profitability Analysis

1.1 Basic Checks

  • BSP had positive earnings in the past year.
  • BSP had a positive operating cash flow in the past year.
  • In the past 5 years BSP has always been profitable.
  • BSP had a positive operating cash flow in each of the past 5 years.
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 2025 1B 2B 3B

1.2 Ratios

  • BSP has a Return On Assets of 5.49%. This is in the better half of the industry: BSP outperforms 73.47% of its industry peers.
  • The Return On Equity of BSP (18.24%) is better than 67.35% of its industry peers.
  • BSP has a Return On Invested Capital of 8.71%. This is comparable to the rest of the industry: BSP outperforms 59.18% of its industry peers.
Industry RankSector Rank
ROA 5.49%
ROE 18.24%
ROIC 8.71%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BSP.DE Yearly ROA, ROE, ROICBSP.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

1.3 Margins

  • The Profit Margin of BSP (7.21%) is better than 61.22% of its industry peers.
  • BSP's Profit Margin has improved 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 57.14% of its industry peers.
  • BSP's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.05%
PM (TTM) 7.21%
GM N/A
OM growth 3Y-1.07%
OM growth 5Y0.8%
PM growth 3Y-0.93%
PM growth 5Y1.55%
GM growth 3YN/A
GM growth 5YN/A
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 2025 20 40 60

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2

2. BSP.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BSP is destroying value.
  • BSP has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
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

  • BSP has an Altman-Z score of 2.95. This is not the best score and indicates that BSP is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.95, BSP perfoms like the industry average, outperforming 53.06% of the companies in the same industry.
  • The Debt to FCF ratio of BSP is 4.53, which is a neutral value as it means it would take BSP, 4.53 years of fcf income to pay off all of its debts.
  • BSP has a Debt to FCF ratio of 4.53. This is comparable to the rest of the industry: BSP outperforms 53.06% of its industry peers.
  • BSP has a Debt/Equity ratio of 0.79. This is a neutral value indicating BSP is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.79, BSP is doing worse than 67.35% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.53
Altman-Z 2.95
ROIC/WACC0.83
WACC10.5%
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 2025 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 77.55% of its industry peers.
  • A Quick Ratio of 0.84 indicates that BSP may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.84, BSP perfoms like the industry average, outperforming 55.10% 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. BSP.DE Growth Analysis

3.1 Past

  • BSP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.80%, which is quite good.
  • Measured over the past years, BSP shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.00% on average per year.
  • Looking at the last year, BSP shows a small growth in Revenue. The Revenue has grown by 7.69% in the last year.
  • The Revenue has been growing by 8.01% on average over the past years. This is quite good.
EPS 1Y (TTM)10.8%
EPS 3Y10.51%
EPS 5Y10%
EPS Q2Q%10.66%
Revenue 1Y (TTM)7.69%
Revenue growth 3Y10.05%
Revenue growth 5Y8.01%
Sales Q2Q%7.4%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.17% 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 5.41% yearly.
EPS Next Y14.25%
EPS Next 2Y12.72%
EPS Next 3Y12.56%
EPS Next 5Y13.17%
Revenue Next Year7.28%
Revenue Next 2Y7.26%
Revenue Next 3Y7.24%
Revenue Next 5Y5.41%

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 decreasing.
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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3

4. BSP.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 30.01 indicates a quite expensive valuation of BSP.
  • Based on the Price/Earnings ratio, BSP is valued a bit cheaper than 77.55% of the companies in the same industry.
  • BSP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.03, which is the current average of the S&P500 Index.
  • BSP is valuated quite expensively with a Price/Forward Earnings ratio of 26.26.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of BSP indicates a somewhat cheap valuation: BSP is cheaper than 69.39% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of BSP to the average of the S&P500 Index (25.11), we can say BSP is valued inline with the index average.
Industry RankSector Rank
PE 30.01
Fwd PE 26.26
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

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as BSP.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of BSP indicates a somewhat cheap valuation: BSP is cheaper than 73.47% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 32.42
EV/EBITDA 20.28
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 BSP does not grow enough to justify the current Price/Earnings ratio.
  • BSP's earnings are expected to grow with 12.56% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.11
PEG (5Y)3
EPS Next 2Y12.72%
EPS Next 3Y12.56%

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

6

5. BSP.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.71%, BSP has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.77, BSP pays a better dividend. On top of this BSP pays more dividend than 95.92% of the companies listed in the same industry.
  • BSP's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.71%

5.2 History

  • On average, the dividend of BSP grows each year by 6.50%, which is quite nice.
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 2026 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.
  • The dividend of BSP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP50.43%
EPS Next 2Y12.72%
EPS Next 3Y12.56%
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 2025 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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BSP.DE Fundamentals: All Metrics, Ratios and Statistics

BAE SYSTEMS PLC

FRA:BSP (3/4/2026, 7:00:00 PM)

25.81

+0.47 (+1.85%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-18
Earnings (Next)07-28
Inst Owners78.98%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap77.42B
Revenue(TTM)28.34B
Net Income(TTM)1.98B
Analysts74.29
Price Target25.45 (-1.39%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.71%
Yearly Dividend0.35
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)3.07%
PT rev (3m)5.69%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.07%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.71%
Revenue NY rev (3m)0.84%
Valuation
Industry RankSector Rank
PE 30.01
Fwd PE 26.26
P/S 2.46
P/FCF 32.42
P/OCF 20.79
P/B 6.22
P/tB N/A
EV/EBITDA 20.28
EPS(TTM)0.86
EY3.33%
EPS(NY)0.98
Fwd EY3.81%
FCF(TTM)0.8
FCFY3.08%
OCF(TTM)1.24
OCFY4.81%
SpS10.5
BVpS4.15
TBVpS-1.67
PEG (NY)2.11
PEG (5Y)3
Graham Number8.96
Profitability
Industry RankSector Rank
ROA 5.49%
ROE 18.24%
ROCE 10.18%
ROIC 8.71%
ROICexc 9.68%
ROICexgc 31.55%
OM 9.05%
PM (TTM) 7.21%
GM N/A
FCFM 7.59%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-1.07%
OM growth 5Y0.8%
PM growth 3Y-0.93%
PM growth 5Y1.55%
GM growth 3YN/A
GM growth 5YN/A
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 2.95
F-Score8
WACC10.5%
ROIC/WACC0.83
Cap/Depr(3y)107.22%
Cap/Depr(5y)95.23%
Cap/Sales(3y)4.15%
Cap/Sales(5y)3.62%
Profit Quality(3y)135.03%
Profit Quality(5y)130.58%
High Growth Momentum
Growth
EPS 1Y (TTM)10.8%
EPS 3Y10.51%
EPS 5Y10%
EPS Q2Q%10.66%
EPS Next Y14.25%
EPS Next 2Y12.72%
EPS Next 3Y12.56%
EPS Next 5Y13.17%
Revenue 1Y (TTM)7.69%
Revenue growth 3Y10.05%
Revenue growth 5Y8.01%
Sales Q2Q%7.4%
Revenue Next Year7.28%
Revenue Next 2Y7.26%
Revenue Next 3Y7.24%
Revenue Next 5Y5.41%
EBIT growth 1Y4.73%
EBIT growth 3Y8.88%
EBIT growth 5Y8.88%
EBIT Next Year38.86%
EBIT Next 3Y16.66%
EBIT Next 5Y15.12%
FCF growth 1Y4.26%
FCF growth 3Y2.77%
FCF growth 5Y27.58%
OCF growth 1Y6.89%
OCF growth 3Y6.53%
OCF growth 5Y24.1%

BAE SYSTEMS PLC / BSP.DE FAQ

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

ChartMill assigns a fundamental rating of 4 / 10 to BSP.DE.


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

ChartMill assigns a valuation rating of 3 / 10 to BAE SYSTEMS PLC (BSP.DE). This can be considered as Overvalued.


What is the profitability of BSP stock?

BAE SYSTEMS PLC (BSP.DE) has a profitability rating of 5 / 10.


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

The Price/Earnings (PE) ratio for BAE SYSTEMS PLC (BSP.DE) is 30.01 and the Price/Book (PB) ratio is 6.22.


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%.