BAE Systems
1,921.00 GBpChange from previous close: −1.13%Absolute change: −22.00 GBp
At a glance
- Revenue growth
- +7.69%
- 2025 vs 2024
- Net income growth
- +5.42%
- 2025 vs 2024
- Net margin
- 7.3%
- 2024: 7.4%
Financial data
Amounts in millions of GBP; per-share values in GBP; shares in millions.
| Item | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2,243 | 3,358 | 74.0 | 3,168 | 757 | 2,276 | 1,484 | 2,346 | 493 | 1,824 |
| Depreciation and amortization | 582 | 488 | 578 | 496 | 501 | 289 | 386 | 295 | 361 | 257 |
| Capital expenditure | -359 | -544 | -376 | -605 | -385 | -494 | -332 | -352 | -247 | -370 |
| Investing cash flow | -195 | -468 | -73.0 | -700 | -4,569 | -412 | -129 | -161 | -261 | -216 |
| Financing cash flow | -1,310 | -1,614 | -1,160 | -1,888 | 2,583 | -988 | -1,200 | -1,085 | -1,248 | -1,308 |
| Dividends paid | -686 | -405 | -622 | -375 | -562 | -349 | -508 | -322 | -480 | -316 |
| Share repurchases | -247 | -275 | -227 | -305 | -250 | -185 | -376 | -658 | -130 | -368 |
| Debt issued | — | — | — | — | 6,933 | -4.0 | 166 | — | — | — |
| Debt repaid | -93.0 | -643 | -106 | -699 | -3,285 | -163 | -129 | -94.0 | -542 | -456 |
| Effect of exchange rates | 21.0 | 9.0 | -66.0 | -33.0 | -7.0 | -13.0 | -58.0 | 51.0 | 55.0 | 8.0 |
| Net change in cash | 759 | 1,285 | -1,225 | 547 | -1,236 | 863 | 97.0 | 1,151 | -961 | 308 |
| Free cash flow | 1,884 | 2,814 | -302 | 2,563 | 372 | 1,782 | 1,152 | 1,994 | 246 | 1,454 |
| Levered free cash flow | 686 | 2,252 | -468 | 2,134 | -117 | 583 | 990 | 1,497 | -324 | 941 |