BAE Systems plc (BA) — Cash Flow Quality Index
Latest as of December 2025:
2.89x
BAE Systems plc (BA) has a Cash Flow Quality Index of 2.89x as of December 2025. Operating cash flow of GBX3.16 Billion exceeds net income of GBX1.09 Billion, indicating high earnings quality where cash backs reported profits. Explore how well can BAE Systems plc service its debt to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
2.89x
Operating CF / Net Income
Operating Cash Flow
GBX3.16 Billion
GBX
Net Income
GBX1.09 Billion
GBX
Data as of
Dec 2025
Most recent filing
BAE Systems plc Cash Flow Quality Index (1991–2025)
Historical Cash Flow Quality Index for BAE Systems plc across 31 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see BA cash flow conversion.
Annual Cash Flow Quality Index for BAE Systems plc (1991–2025)
Year-by-year earnings quality comparison for BAE Systems plc.
| Year | Quality Index | Operating CF (GBX) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.60x | GBX3.30 Billion | GBX2.06 Billion | ▼ -16.8% |
| 2024 | 1.92x | GBX3.92 Billion | GBX2.04 Billion | ▼ -5.0% |
| 2023 | 2.02x | GBX3.76 Billion | GBX1.86 Billion | ▲ +19.4% |
| 2022 | 1.70x | GBX2.84 Billion | GBX1.67 Billion | ▲ +32.5% |
| 2021 | 1.28x | GBX2.45 Billion | GBX1.91 Billion | ▲ +50.5% |
| 2020 | 0.85x | GBX1.17 Billion | GBX1.37 Billion | ▼ -18.4% |
| 2019 | 1.04x | GBX1.60 Billion | GBX1.53 Billion | ▼ -13.1% |
| 2018 | 1.20x | GBX1.20 Billion | GBX1.00 Billion | ▼ -47.7% |
| 2017 | 2.29x | GBX1.90 Billion | GBX827.00 Million | ▲ +70.4% |
| 2016 | 1.35x | GBX1.23 Billion | GBX913.00 Million | ▲ +52.9% |
| 2015 | 0.88x | GBX808.00 Million | GBX918.00 Million | ▼ -2.6% |
| 2014 | 0.90x | GBX669.00 Million | GBX740.00 Million | ▲ +238.1% |
| 2013 | -0.65x | GBX-110.00 Million | GBX168.00 Million | ▼ -132.5% |
| 2012 | 2.01x | GBX2.17 Billion | GBX1.08 Billion | ▲ +560.2% |
| 2011 | 0.31x | GBX482.00 Million | GBX1.58 Billion | ▼ -49.2% |
| 2010 | 0.60x | GBX962.00 Million | GBX1.60 Billion | ▼ -64.3% |
| 2009 | 1.69x | GBX1.63 Billion | GBX969.00 Million | ▲ +82.9% |
| 2008 | 0.92x | GBX1.58 Billion | GBX1.72 Billion | ▼ -42.9% |
| 2007 | 1.61x | GBX1.90 Billion | GBX1.18 Billion | ▲ +196.4% |
| 2006 | 0.54x | GBX512.00 Million | GBX941.00 Million | ▼ -77.3% |
| 2005 | 2.39x | GBX1.93 Billion | GBX806.00 Million | ▼ -99.7% |
| 2004 | 721.33x | GBX2.16 Billion | GBX3.00 Million | ▲ +35080.3% |
| 2003 | 2.05x | GBX529.00 Million | GBX258.00 Million | ▲ +294.2% |
| 2001 | 0.52x | GBX220.00 Million | GBX423.00 Million | ▼ -93.7% |
| 2000 | 8.22x | GBX1.55 Billion | GBX189.00 Million | ▲ +1959.5% |
| 1999 | 0.40x | GBX206.00 Million | GBX516.00 Million | ▲ +139.9% |
| 1998 | -1.00x | GBX-603.00 Million | GBX603.00 Million | ▼ -319.3% |
| 1997 | 0.46x | GBX238.00 Million | GBX522.00 Million | ▼ -60.8% |
| 1996 | 1.16x | GBX507.00 Million | GBX436.00 Million | ▲ +578.7% |
| 1995 | 0.17x | GBX49.00 Million | GBX286.00 Million | ▲ +114.4% |
| 1991 | -1.19x | GBX-255.00 Million | GBX215.00 Million | — |
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.