BAE Systems plc (BA) - Net Assets
Based on the latest financial reports, BAE Systems plc (BA) has net assets worth GBX11.94 Billion GBX (≈ $1.45 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX37.68 Billion ≈ $4.58 Million USD) and total liabilities (GBX25.74 Billion ≈ $3.13 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BA financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX11.94 Billion |
| % of Total Assets | 31.68% |
| Annual Growth Rate | 5.94% |
| 5-Year Change | 40.87% |
| 10-Year Change | 244.6% |
| Growth Volatility | 52.58 |
BAE Systems plc - Net Assets Trend (1985–2025)
This chart illustrates how BAE Systems plc's net assets have evolved over time, based on quarterly financial data. Also explore BA total asset value for the complete picture of this company's asset base.
Annual Net Assets for BAE Systems plc (1985–2025)
The table below shows the annual net assets of BAE Systems plc from 1985 to 2025. For live valuation and market cap data, see BA stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | GBX11.94 Billion ≈ $1.45 Million |
+1.36% |
| 2024-12-31 | GBX11.78 Billion ≈ $1.43 Million |
+9.83% |
| 2023-12-31 | GBX10.72 Billion ≈ $1.30 Million |
-13.55% |
| 2022-12-31 | GBX12.40 Billion ≈ $1.51 Million |
+46.38% |
| 2021-12-31 | GBX8.47 Billion ≈ $1.03 Million |
+51.35% |
| 2020-12-31 | GBX5.60 Billion ≈ $681.24K |
-7.24% |
| 2019-12-31 | GBX6.04 Billion ≈ $734.41K |
+7.44% |
| 2018-12-31 | GBX5.62 Billion ≈ $683.55K |
+18.15% |
| 2017-12-31 | GBX4.75 Billion ≈ $578.55K |
+37.27% |
| 2016-12-31 | GBX3.46 Billion ≈ $421.47K |
+15.39% |
| 2015-12-31 | GBX3.00 Billion ≈ $365.26K |
+59.94% |
| 2014-12-31 | GBX1.88 Billion ≈ $228.38K |
-45.08% |
| 2013-12-31 | GBX3.42 Billion ≈ $415.87K |
-9.43% |
| 2012-12-31 | GBX3.77 Billion ≈ $459.19K |
-12.21% |
| 2011-12-31 | GBX4.30 Billion ≈ $523.06K |
-20.43% |
| 2010-12-31 | GBX5.40 Billion ≈ $657.39K |
+15.87% |
| 2009-12-31 | GBX4.66 Billion ≈ $567.35K |
-36.03% |
| 2008-12-31 | GBX7.29 Billion ≈ $886.86K |
+21.44% |
| 2007-12-31 | GBX6.00 Billion ≈ $730.27K |
+45.19% |
| 2006-12-31 | GBX4.13 Billion ≈ $502.99K |
+47.43% |
| 2005-12-31 | GBX2.80 Billion ≈ $341.17K |
+5.22% |
| 2004-12-31 | GBX2.67 Billion ≈ $324.25K |
-52.46% |
| 2003-12-31 | GBX5.61 Billion ≈ $682.09K |
-1.39% |
| 2002-12-31 | GBX5.68 Billion ≈ $691.70K |
-14.61% |
| 2001-12-31 | GBX6.66 Billion ≈ $810.09K |
-5.92% |
| 2000-12-31 | GBX7.08 Billion ≈ $861.07K |
-4.94% |
| 1999-12-31 | GBX7.45 Billion ≈ $905.84K |
+267.47% |
| 1998-12-31 | GBX2.03 Billion ≈ $246.51K |
+39.53% |
| 1997-12-31 | GBX1.45 Billion ≈ $176.67K |
-14.89% |
| 1996-12-31 | GBX1.71 Billion ≈ $207.57K |
+81.68% |
| 1995-12-31 | GBX939.00 Million ≈ $114.25K |
+9.70% |
| 1994-12-31 | GBX856.00 Million ≈ $104.15K |
-44.74% |
| 1993-12-31 | GBX1.55 Billion ≈ $188.47K |
-23.24% |
| 1992-12-31 | GBX2.02 Billion ≈ $245.53K |
-31.92% |
| 1991-12-31 | GBX2.96 Billion ≈ $360.63K |
+3.78% |
| 1990-12-31 | GBX2.86 Billion ≈ $347.49K |
+14.24% |
| 1989-12-31 | GBX2.50 Billion ≈ $304.18K |
+18.26% |
| 1988-12-31 | GBX2.11 Billion ≈ $257.21K |
+107.46% |
| 1987-12-31 | GBX1.02 Billion ≈ $123.98K |
-16.51% |
| 1986-12-31 | GBX1.22 Billion ≈ $148.50K |
+2.89% |
| 1985-12-31 | GBX1.19 Billion ≈ $144.33K |
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Equity Component Analysis
This analysis shows how different components contribute to BAE Systems plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 965.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX4.57 Billion | 38.79% |
| Common Stock | GBX79.00 Million | 0.67% |
| Other Components | GBX7.13 Billion | 60.54% |
| Total Equity | GBX11.78 Billion | 100.00% |
BAE Systems plc Competitors by Market Cap
The table below lists competitors of BAE Systems plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Astra Otoparts Tbk
JK:AUTO
|
$725.81 Million |
|
Vitesse Energy Inc
NYSE:VTS
|
$725.90 Million |
|
Yunnan Tourism Co Ltd
SHE:002059
|
$725.94 Million |
|
Capital City Bank Group
NASDAQ:CCBG
|
$726.06 Million |
|
Aarti Pharmalabs Limited
NSE:AARTIPHARM
|
$725.68 Million |
|
Viglacera Corp JSC
VN:VGC
|
$725.67 Million |
|
Shenzhen Easttop Supply Chain Management Co Ltd
SHE:002889
|
$725.62 Million |
|
Lotte Confectionery Co Ltd
KO:280360
|
$725.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BAE Systems plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,616,000,000 to 11,784,000,000, a change of 168,000,000 (1.4%).
- Net income of 2,062,000,000 contributed positively to equity growth.
- Dividend payments of 1,027,000,000 reduced retained earnings.
- Share repurchases of 502,000,000 reduced equity.
- Other factors decreased equity by 365,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX2.06 Billion | +17.5% |
| Dividends Paid | GBX1.03 Billion | -8.72% |
| Share Repurchases | GBX502.00 Million | -4.26% |
| Other Changes | GBX-365.00 Million | -3.1% |
| Total Change | GBX- | 1.45% |
Book Value vs Market Value Analysis
This analysis compares BAE Systems plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 523.30x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 1754.76x to 523.30x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | GBX1.16 | GBX2034.50 | x |
| 1986-12-31 | GBX1.19 | GBX2034.50 | x |
| 1987-12-31 | GBX1.00 | GBX2034.50 | x |
| 1988-12-31 | GBX2.05 | GBX2034.50 | x |
| 1989-12-31 | GBX2.21 | GBX2034.50 | x |
| 1990-12-31 | GBX2.34 | GBX2034.50 | x |
| 1991-12-31 | GBX2.30 | GBX2034.50 | x |
| 1992-12-31 | GBX1.13 | GBX2034.50 | x |
| 1993-12-31 | GBX0.89 | GBX2034.50 | x |
| 1994-12-31 | GBX0.51 | GBX2034.50 | x |
| 1995-12-31 | GBX0.50 | GBX2034.50 | x |
| 1996-12-31 | GBX0.95 | GBX2034.50 | x |
| 1997-12-31 | GBX0.76 | GBX2034.50 | x |
| 1998-12-31 | GBX0.99 | GBX2034.50 | x |
| 1999-12-31 | GBX3.52 | GBX2034.50 | x |
| 2000-12-31 | GBX2.31 | GBX2034.50 | x |
| 2001-12-31 | GBX2.17 | GBX2034.50 | x |
| 2002-12-31 | GBX1.86 | GBX2034.50 | x |
| 2003-12-31 | GBX1.83 | GBX2034.50 | x |
| 2004-12-31 | GBX0.87 | GBX2034.50 | x |
| 2005-12-31 | GBX0.84 | GBX2034.50 | x |
| 2006-12-31 | GBX1.22 | GBX2034.50 | x |
| 2007-12-31 | GBX1.72 | GBX2034.50 | x |
| 2008-12-31 | GBX2.05 | GBX2034.50 | x |
| 2009-12-31 | GBX1.30 | GBX2034.50 | x |
| 2010-12-31 | GBX1.54 | GBX2034.50 | x |
| 2011-12-31 | GBX1.25 | GBX2034.50 | x |
| 2012-12-31 | GBX1.14 | GBX2034.50 | x |
| 2013-12-31 | GBX1.04 | GBX2034.50 | x |
| 2014-12-31 | GBX0.58 | GBX2034.50 | x |
| 2015-12-31 | GBX0.94 | GBX2034.50 | x |
| 2016-12-31 | GBX1.08 | GBX2034.50 | x |
| 2017-12-31 | GBX1.47 | GBX2034.50 | x |
| 2018-12-31 | GBX1.73 | GBX2034.50 | x |
| 2019-12-31 | GBX1.69 | GBX2034.50 | x |
| 2020-12-31 | GBX1.45 | GBX2034.50 | x |
| 2021-12-31 | GBX2.32 | GBX2034.50 | x |
| 2022-12-31 | GBX3.56 | GBX2034.50 | x |
| 2023-12-31 | GBX3.44 | GBX2034.50 | x |
| 2024-12-31 | GBX3.80 | GBX2034.50 | x |
| 2025-12-31 | GBX3.89 | GBX2034.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BAE Systems plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.50%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.28%
- • Asset Turnover: 0.75x
- • Equity Multiplier: 3.20x
- Recent ROE (17.50%) is above the historical average (12.43%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 10.71% | 4.80% | 0.97x | 2.31x | GBX8.38 Million |
| 1986 | 6.91% | 2.69% | 0.96x | 2.69x | GBX-37.75 Million |
| 1987 | -10.79% | -2.70% | 0.94x | 4.25x | GBX-211.90 Million |
| 1988 | 7.38% | 2.77% | 0.87x | 3.07x | GBX-55.40 Million |
| 1989 | 10.08% | 2.56% | 0.99x | 3.97x | GBX1.75 Million |
| 1990 | 10.54% | 2.47% | 1.13x | 3.77x | GBX13.35 Million |
| 1991 | -5.02% | -1.25% | 1.04x | 3.87x | GBX-394.95 Million |
| 1992 | -51.85% | -8.90% | 0.92x | 6.35x | GBX-1.06 Billion |
| 1993 | -17.04% | -2.16% | 0.99x | 7.96x | GBX-368.15 Million |
| 1994 | 17.73% | 1.93% | 0.91x | 10.07x | GBX60.15 Million |
| 1995 | 16.04% | 2.40% | 0.75x | 8.88x | GBX51.95 Million |
| 1996 | 19.01% | 4.78% | 0.84x | 4.75x | GBX146.45 Million |
| 1997 | 11.85% | 2.26% | 0.93x | 5.65x | GBX25.55 Million |
| 1998 | 35.44% | 9.83% | 0.78x | 4.64x | GBX496.75 Million |
| 1999 | 4.44% | 4.60% | 0.40x | 2.39x | GBX-405.28 Million |
| 2000 | -0.36% | -0.26% | 0.56x | 2.51x | GBX-715.95 Million |
| 2001 | -2.04% | -1.48% | 0.53x | 2.62x | GBX-791.12 Million |
| 2002 | -12.11% | -8.49% | 0.52x | 2.75x | GBX-1.25 Billion |
| 2003 | 0.11% | 0.07% | 0.55x | 2.75x | GBX-553.10 Million |
| 2004 | 0.08% | 0.02% | 0.54x | 6.13x | GBX-263.50 Million |
| 2005 | 19.84% | 5.02% | 0.54x | 7.26x | GBX274.20 Million |
| 2006 | 39.74% | 13.27% | 0.68x | 4.41x | GBX1.22 Billion |
| 2007 | 15.10% | 6.30% | 0.71x | 3.40x | GBX304.40 Million |
| 2008 | 24.12% | 10.47% | 0.65x | 3.55x | GBX1.02 Billion |
| 2009 | -1.46% | -0.33% | 0.80x | 5.55x | GBX-526.10 Million |
| 2010 | 19.73% | 5.01% | 0.87x | 4.51x | GBX518.80 Million |
| 2011 | 29.25% | 6.98% | 0.77x | 5.45x | GBX816.00 Million |
| 2012 | 28.71% | 6.43% | 0.75x | 5.99x | GBX696.00 Million |
| 2013 | 4.97% | 1.00% | 0.86x | 5.82x | GBX-170.10 Million |
| 2014 | 40.17% | 4.80% | 0.78x | 10.74x | GBX555.80 Million |
| 2015 | 30.71% | 5.47% | 0.84x | 6.72x | GBX619.10 Million |
| 2016 | 26.56% | 5.13% | 0.77x | 6.68x | GBX569.20 Million |
| 2017 | 18.12% | 4.96% | 0.75x | 4.89x | GBX382.80 Million |
| 2018 | 18.03% | 5.94% | 0.68x | 4.46x | GBX445.40 Million |
| 2019 | 27.30% | 8.06% | 0.70x | 4.82x | GBX935.30 Million |
| 2020 | 27.98% | 6.74% | 0.69x | 6.02x | GBX834.70 Million |
| 2021 | 23.64% | 9.01% | 0.72x | 3.65x | GBX1.01 Billion |
| 2022 | 14.19% | 7.48% | 0.68x | 2.81x | GBX469.50 Million |
| 2023 | 17.59% | 8.05% | 0.72x | 3.04x | GBX801.10 Million |
| 2024 | 16.84% | 7.43% | 0.69x | 3.28x | GBX794.40 Million |
| 2025 | 17.50% | 7.28% | 0.75x | 3.20x | GBX883.60 Million |
Industry Comparison
This section compares BAE Systems plc's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $951,267,934
- Average return on equity (ROE) among peers: 31.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BAE Systems plc (BA) | GBX11.94 Billion | 10.71% | 2.16x | $725.80 Million |
| Avon Protection PLC (AVON) | $40.63 Million | 43.22% | 1.87x | $6.21 Million |
| Chemring Group PLC (CHG) | $418.10 Million | 11.34% | 0.48x | $17.07 Million |
| Cohort (CHRT) | $898.00K | 32.74% | 2.50x | $6.82 Million |
| Qinetiq Group PLC (QQ) | $1.04 Billion | 8.64% | 0.72x | $28.21 Million |
| Rolls-Royce Holdings PLC (RR) | $5.02 Billion | 1.65% | 3.45x | $1.21 Billion |
| Senior PLC (SNR) | $140.93 Million | 10.80% | 1.39x | $14.34 Million |
| Velocity Composites plc (VEL) | $916.00K | 110.92% | 3.95x | $86.47K |
About BAE Systems plc
BAE Systems plc provides defense, aerospace, and security solutions in the United States, the United Kingdom, the Middle East, Australia, Kingdom of Saudi Arabia, Europe, and internationally. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation sys… Read more