BAE Systems plc (BA) — Free Cash Flow Generation Index
BAE Systems plc (BA) has a Free Cash Flow Generation Index of 0.83x as of December 2025. Free cash flow of GBX2.62 Billion represents 1% of operating cash flow (GBX3.16 Billion). Explore BA capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
BAE Systems plc Free Cash Flow Generation Index (1993–2025)
Historical FCF Generation Index trend for BAE Systems plc across 29 annual periods. For the full cash flow conversion analysis, see BAE Systems plc operating cash flow efficiency.
Annual Free Cash Flow Generation for BAE Systems plc (1993–2025)
Year-by-year Free Cash Flow Generation Index for BAE Systems plc. Check BAE Systems plc (BA) total reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (GBX) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.72x | GBX2.38 Billion | GBX3.30 Billion | GBX920.00 Million | ▲ +2.5% |
| 2024 | 0.70x | GBX2.76 Billion | GBX3.92 Billion | GBX1.16 Billion | ▼ -5.6% |
| 2023 | 0.75x | GBX2.80 Billion | GBX3.76 Billion | GBX957.00 Million | ▼ -1.4% |
| 2022 | 0.76x | GBX2.15 Billion | GBX2.84 Billion | GBX693.00 Million | ▼ -6.8% |
| 2021 | 0.81x | GBX1.99 Billion | GBX2.45 Billion | GBX462.00 Million | ▲ +37.3% |
| 2020 | 0.59x | GBX689.00 Million | GBX1.17 Billion | GBX477.00 Million | ▼ -16.3% |
| 2019 | 0.71x | GBX1.13 Billion | GBX1.60 Billion | GBX470.00 Million | ▲ +0.6% |
| 2018 | 0.70x | GBX842.00 Million | GBX1.20 Billion | GBX358.00 Million | ▼ -11.7% |
| 2017 | 0.79x | GBX1.51 Billion | GBX1.90 Billion | GBX389.00 Million | ▲ +19.0% |
| 2016 | 0.67x | GBX821.00 Million | GBX1.23 Billion | GBX408.00 Million | ▲ +20.2% |
| 2015 | 0.56x | GBX449.00 Million | GBX808.00 Million | GBX359.00 Million | ▼ -8.4% |
| 2014 | 0.61x | GBX406.00 Million | GBX669.00 Million | GBX263.00 Million | ▼ -25.5% |
| 2012 | 0.82x | GBX1.77 Billion | GBX2.17 Billion | GBX402.00 Million | ▲ +296.8% |
| 2011 | 0.21x | GBX99.00 Million | GBX482.00 Million | GBX383.00 Million | ▼ -63.1% |
| 2010 | 0.56x | GBX535.00 Million | GBX962.00 Million | GBX427.00 Million | ▼ -18.0% |
| 2009 | 0.68x | GBX1.11 Billion | GBX1.63 Billion | GBX525.00 Million | ▲ +4.2% |
| 2008 | 0.65x | GBX1.03 Billion | GBX1.58 Billion | GBX552.00 Million | ▼ -20.8% |
| 2007 | 0.82x | GBX1.56 Billion | GBX1.90 Billion | GBX338.00 Million | ▲ +537.6% |
| 2006 | 0.13x | GBX66.00 Million | GBX512.00 Million | GBX446.00 Million | ▼ -84.4% |
| 2005 | 0.83x | GBX1.59 Billion | GBX1.93 Billion | GBX335.00 Million | ▼ -0.5% |
| 2004 | 0.83x | GBX1.80 Billion | GBX2.16 Billion | GBX366.00 Million | ▲ +53.7% |
| 2003 | 0.54x | GBX286.00 Million | GBX529.00 Million | GBX243.00 Million | ▲ +72.4% |
| 2001 | 0.31x | GBX69.00 Million | GBX220.00 Million | GBX151.00 Million | ▼ -58.7% |
| 2000 | 0.76x | GBX1.18 Billion | GBX1.55 Billion | GBX374.00 Million | ▲ +254.9% |
| 1999 | -0.49x | GBX-101.00 Million | GBX206.00 Million | GBX307.00 Million | ▼ -516.7% |
| 1997 | 0.12x | GBX28.00 Million | GBX238.00 Million | GBX210.00 Million | ▼ -82.2% |
| 1996 | 0.66x | GBX335.00 Million | GBX507.00 Million | GBX172.00 Million | ▲ +136.0% |
| 1995 | -1.84x | GBX-90.00 Million | GBX49.00 Million | GBX139.00 Million | ▲ +18.5% |
| 1993 | -2.25x | GBX-311.00 Million | GBX138.00 Million | GBX449.00 Million | — |