BAE Systems PLC
BAE Systems plc provides defense, aerospace, and security solutions in the United States, the United Kingdom, the Middle East, Australia, Japan, 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 systems, electro-opti… Read more
BAE Systems PLC (BAESY) - Net Assets
Latest net assets as of December 2025: $11.92 Billion USD
Based on the latest financial reports, BAE Systems PLC (BAESY) has net assets worth $11.92 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($37.61 Billion) and total liabilities ($25.70 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $11.92 Billion |
| % of Total Assets | 31.68% |
| Annual Growth Rate | 5.94% |
| 5-Year Change | 55.4% |
| 10-Year Change | 244.0% |
| Growth Volatility | 52.72 |
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. Explore and compare other companies by net assets.
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.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $11.92 Billion | +1.18% |
| 2024-12-31 | $11.78 Billion | +9.83% |
| 2023-12-31 | $10.72 Billion | -5.94% |
| 2022-12-31 | $11.40 Billion | +48.67% |
| 2021-12-31 | $7.67 Billion | +55.82% |
| 2020-12-31 | $4.92 Billion | -10.71% |
| 2019-12-31 | $5.51 Billion | -1.90% |
| 2018-12-31 | $5.62 Billion | +17.43% |
| 2017-12-31 | $4.78 Billion | +38.11% |
| 2016-12-31 | $3.46 Billion | +15.39% |
| 2015-12-31 | $3.00 Billion | +59.94% |
| 2014-12-31 | $1.88 Billion | -45.08% |
| 2013-12-31 | $3.42 Billion | -9.43% |
| 2012-12-31 | $3.77 Billion | -12.21% |
| 2011-12-31 | $4.30 Billion | -20.43% |
| 2010-12-31 | $5.40 Billion | +15.87% |
| 2009-12-31 | $4.66 Billion | -36.03% |
| 2008-12-31 | $7.29 Billion | +21.44% |
| 2007-12-31 | $6.00 Billion | +45.19% |
| 2006-12-31 | $4.13 Billion | +47.43% |
| 2005-12-31 | $2.80 Billion | +5.22% |
| 2004-12-31 | $2.67 Billion | -52.46% |
| 2003-12-31 | $5.61 Billion | -1.39% |
| 2002-12-31 | $5.68 Billion | -14.61% |
| 2001-12-31 | $6.66 Billion | -5.92% |
| 2000-12-31 | $7.08 Billion | -4.94% |
| 1999-12-31 | $7.45 Billion | +267.47% |
| 1998-12-31 | $2.03 Billion | +39.53% |
| 1997-12-31 | $1.45 Billion | -14.89% |
| 1996-12-31 | $1.71 Billion | +81.68% |
| 1995-12-31 | $939.00 Million | +9.70% |
| 1994-12-31 | $856.00 Million | -44.74% |
| 1993-12-31 | $1.55 Billion | -23.24% |
| 1992-12-31 | $2.02 Billion | -31.92% |
| 1991-12-31 | $2.96 Billion | +3.78% |
| 1990-12-31 | $2.86 Billion | +14.24% |
| 1989-12-31 | $2.50 Billion | +18.26% |
| 1988-12-31 | $2.11 Billion | +107.46% |
| 1987-12-31 | $1.02 Billion | -16.51% |
| 1986-12-31 | $1.22 Billion | +2.89% |
| 1985-12-31 | $1.19 Billion | -- |
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 963.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.56 Billion | 38.79% |
| Common Stock | $78.86 Million | 0.67% |
| Other Components | $7.12 Billion | 60.54% |
| Total Equity | $11.76 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 |
|---|---|
|
Bank of Nova Scotia
NYSE:BNS
|
$85.77 Billion |
|
Compagnie Financière Richemont SA
PINK:CFRHF
|
$86.13 Billion |
|
Hitachi Ltd
PINK:HTHIF
|
$86.13 Billion |
|
American Tower Corp
NYSE:AMT
|
$86.39 Billion |
|
ABB Ltd
PINK:ABBNY
|
$85.22 Billion |
|
Automatic Data Processing Inc
NASDAQ:ADP
|
$84.26 Billion |
|
Hermes International SCA
PINK:HESAF
|
$84.24 Billion |
|
Blackstone Group Inc
NYSE:BX
|
$83.28 Billion |
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 11,763,287,000, a change of 147,287,000 (1.3%).
- Net income of 2,016,812,168 contributed positively to equity growth.
- Dividend payments of 1,004,493,742 reduced retained earnings.
- Share repurchases of 490,998,888 reduced equity.
- Other factors decreased equity by 374,032,538.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.02 Billion | +17.14% |
| Dividends Paid | $1.00 Billion | -8.54% |
| Share Repurchases | $491.00 Million | -4.17% |
| Other Changes | $-374.03 Million | -3.18% |
| Total Change | $- | 1.27% |
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: 5.04x
- 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 16.87x to 5.04x 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 | $4.64 | $78.25 | x |
| 1986-12-31 | $4.77 | $78.25 | x |
| 1987-12-31 | $3.98 | $78.25 | x |
| 1988-12-31 | $8.21 | $78.25 | x |
| 1989-12-31 | $8.83 | $78.25 | x |
| 1990-12-31 | $9.36 | $78.25 | x |
| 1991-12-31 | $9.22 | $78.25 | x |
| 1992-12-31 | $4.51 | $78.25 | x |
| 1993-12-31 | $3.58 | $78.25 | x |
| 1994-12-31 | $2.02 | $78.25 | x |
| 1995-12-31 | $2.02 | $78.25 | x |
| 1996-12-31 | $3.79 | $78.25 | x |
| 1997-12-31 | $3.06 | $78.25 | x |
| 1998-12-31 | $3.96 | $78.25 | x |
| 1999-12-31 | $14.07 | $78.25 | x |
| 2000-12-31 | $9.24 | $78.25 | x |
| 2001-12-31 | $8.66 | $78.25 | x |
| 2002-12-31 | $7.42 | $78.25 | x |
| 2003-12-31 | $7.32 | $78.25 | x |
| 2004-12-31 | $3.47 | $78.25 | x |
| 2005-12-31 | $3.35 | $78.25 | x |
| 2006-12-31 | $4.87 | $78.25 | x |
| 2007-12-31 | $6.89 | $78.25 | x |
| 2008-12-31 | $8.20 | $78.25 | x |
| 2009-12-31 | $5.20 | $78.25 | x |
| 2010-12-31 | $6.14 | $78.25 | x |
| 2011-12-31 | $5.01 | $78.25 | x |
| 2012-12-31 | $4.57 | $78.25 | x |
| 2013-12-31 | $4.16 | $78.25 | x |
| 2014-12-31 | $2.32 | $78.25 | x |
| 2015-12-31 | $3.77 | $78.25 | x |
| 2016-12-31 | $4.32 | $78.25 | x |
| 2017-12-31 | $5.93 | $78.25 | x |
| 2018-12-31 | $6.94 | $78.25 | x |
| 2019-12-31 | $6.76 | $78.25 | x |
| 2020-12-31 | $5.79 | $78.25 | x |
| 2021-12-31 | $9.26 | $78.25 | x |
| 2022-12-31 | $14.23 | $78.25 | x |
| 2023-12-31 | $13.75 | $78.25 | x |
| 2024-12-31 | $15.21 | $78.25 | x |
| 2025-12-31 | $15.52 | $78.25 | 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): 17.14%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.28%
- • Asset Turnover: 0.74x
- • Equity Multiplier: 3.20x
- Recent ROE (17.14%) is above the historical average (12.33%), 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 | $8.38 Million |
| 1986 | 6.91% | 2.69% | 0.96x | 2.69x | $-37.75 Million |
| 1987 | -10.79% | -2.70% | 0.94x | 4.25x | $-211.90 Million |
| 1988 | 7.38% | 2.77% | 0.87x | 3.07x | $-55.40 Million |
| 1989 | 10.08% | 2.56% | 0.99x | 3.97x | $1.75 Million |
| 1990 | 10.54% | 2.47% | 1.13x | 3.77x | $13.35 Million |
| 1991 | -5.02% | -1.25% | 1.04x | 3.87x | $-394.95 Million |
| 1992 | -51.85% | -8.90% | 0.92x | 6.35x | $-1.06 Billion |
| 1993 | -17.04% | -2.16% | 0.99x | 7.96x | $-368.15 Million |
| 1994 | 17.73% | 1.93% | 0.91x | 10.07x | $60.15 Million |
| 1995 | 16.04% | 2.40% | 0.75x | 8.88x | $51.95 Million |
| 1996 | 19.01% | 4.78% | 0.84x | 4.75x | $146.45 Million |
| 1997 | 11.85% | 2.26% | 0.93x | 5.65x | $25.55 Million |
| 1998 | 35.44% | 9.83% | 0.78x | 4.64x | $496.75 Million |
| 1999 | 4.44% | 4.60% | 0.40x | 2.39x | $-405.28 Million |
| 2000 | -0.36% | -0.26% | 0.56x | 2.51x | $-715.95 Million |
| 2001 | -2.04% | -1.48% | 0.53x | 2.62x | $-791.12 Million |
| 2002 | -12.11% | -8.49% | 0.52x | 2.75x | $-1.25 Billion |
| 2003 | 0.11% | 0.07% | 0.55x | 2.75x | $-553.10 Million |
| 2004 | 0.08% | 0.02% | 0.54x | 6.13x | $-263.50 Million |
| 2005 | 19.84% | 5.02% | 0.54x | 7.26x | $274.20 Million |
| 2006 | 39.74% | 13.27% | 0.68x | 4.41x | $1.22 Billion |
| 2007 | 15.10% | 6.30% | 0.71x | 3.40x | $304.40 Million |
| 2008 | 24.12% | 10.47% | 0.65x | 3.55x | $1.02 Billion |
| 2009 | -1.46% | -0.33% | 0.80x | 5.55x | $-526.10 Million |
| 2010 | 19.73% | 5.01% | 0.87x | 4.51x | $518.80 Million |
| 2011 | 29.25% | 6.98% | 0.77x | 5.45x | $816.00 Million |
| 2012 | 25.48% | 5.70% | 0.75x | 5.99x | $576.00 Million |
| 2013 | 4.97% | 1.00% | 0.86x | 5.82x | $-170.10 Million |
| 2014 | 40.17% | 4.80% | 0.78x | 10.74x | $555.80 Million |
| 2015 | 30.71% | 5.47% | 0.84x | 6.72x | $619.10 Million |
| 2016 | 26.56% | 5.13% | 0.77x | 6.68x | $569.20 Million |
| 2017 | 17.44% | 4.51% | 0.82x | 4.74x | $352.90 Million |
| 2018 | 18.03% | 5.94% | 0.68x | 4.46x | $445.40 Million |
| 2019 | 27.30% | 8.06% | 0.71x | 4.74x | $935.30 Million |
| 2020 | 27.98% | 6.74% | 0.70x | 5.93x | $834.70 Million |
| 2021 | 23.64% | 9.01% | 0.72x | 3.65x | $1.01 Billion |
| 2022 | 14.19% | 7.48% | 0.68x | 2.81x | $469.50 Million |
| 2023 | 17.59% | 8.05% | 0.72x | 3.04x | $801.10 Million |
| 2024 | 16.84% | 7.43% | 0.69x | 3.28x | $794.40 Million |
| 2025 | 17.14% | 7.28% | 0.74x | 3.20x | $840.48 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: $301,480,945
- Average return on equity (ROE) among peers: 29.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BAE Systems PLC (BAESY) | $11.92 Billion | 10.71% | 2.16x | $85.36 Billion |
| Alabama Aircraft Industries Inc (AAIIQ) | $3.00 Million | 70.00% | 22.83x | $0.97 |
| AAC Clyde Space AB (ACCMF) | $662.75 Million | -6.24% | 0.42x | $49.09 Million |
| Archer Aviation Inc (ACHR) | $698.90 Million | -49.76% | 0.10x | $3.44 Billion |
| American Defense Systems Inc (ADFS) | $9.01 Million | 34.56% | 0.45x | $4.85K |
| AAR Corp (AIR) | $866.00 Million | 7.82% | 1.54x | $4.16 Billion |
| Air Industries Group (AIRI) | $21.61 Million | 17.30% | 1.32x | $12.09 Million |
| AIRO Group Holdings, Inc. Common Stock (AIRO) | $548.73 Million | -7.05% | 0.28x | $168.72 Million |
| Philly Shipyard ASA (AKRRF) | $155.58 Million | 43.21% | 0.63x | $13.32 Million |
| ASI Aviation Inc (ASAV) | $6.88 | 150.58% | 2.47x | $2.48 Million |
| Astronics Corporation (ATRO) | $49.23 Million | 31.26% | 1.11x | $2.35 Billion |