BAE Systems plc (BA) — Tangible Net Worth Ratio
BAE Systems plc (BA) has a Tangible Net Worth Ratio of 78.9% as of December 2025. This metric is calculated by deducting intangible assets (GBX2.51 Billion) from net assets (GBX11.94 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore BA net asset momentum to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
BAE Systems plc Tangible Net Worth Ratio (1985–2025)
This chart shows how BAE Systems plc's Tangible Net Worth Ratio has changed across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at 78.9%, reflecting net assets of GBX11.94 Billion with intangible assets of GBX2.51 Billion GBX. For live market cap and overall valuation, see BAE Systems plc (BA) total market value.
Annual Tangible Net Worth Ratio for BAE Systems plc (1985–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for BAE Systems plc from 1985 to 2025, covering 41 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore BAE Systems plc (BA) reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (GBX) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 78.9% | GBX11.94 Billion | GBX2.51 Billion | GBX37.68 Billion | ▲ +4.1 pp |
| 2024 | 74.8% | GBX11.78 Billion | GBX2.96 Billion | GBX38.14 Billion | ▼ -18.5 pp |
| 2023 | 93.4% | GBX10.72 Billion | GBX713.00 Million | GBX32.06 Billion | ▲ +95.3 pp |
| 2022 | -1.9% | GBX12.40 Billion | GBX12.64 Billion | GBX31.46 Billion | ▲ +36.3 pp |
| 2021 | -38.3% | GBX8.47 Billion | GBX11.72 Billion | GBX27.14 Billion | ▲ +71.5 pp |
| 2020 | -109.8% | GBX5.60 Billion | GBX11.74 Billion | GBX27.94 Billion | ▼ -38.0 pp |
| 2019 | -71.8% | GBX6.04 Billion | GBX10.37 Billion | GBX26.04 Billion | ▼ -164.9 pp |
| 2018 | 93.1% | GBX5.62 Billion | GBX387.00 Million | GBX24.75 Billion | ▲ +0.6 pp |
| 2017 | 92.6% | GBX4.75 Billion | GBX354.00 Million | GBX23.04 Billion | ▲ +1.8 pp |
| 2016 | 90.8% | GBX3.46 Billion | GBX320.00 Million | GBX22.98 Billion | ▼ 0.0 pp |
| 2015 | 90.8% | GBX3.00 Billion | GBX277.00 Million | GBX20.08 Billion | ▲ +7.8 pp |
| 2014 | 83.0% | GBX1.88 Billion | GBX319.00 Million | GBX19.79 Billion | ▼ -6.6 pp |
| 2013 | 89.6% | GBX3.42 Billion | GBX354.00 Million | GBX19.68 Billion | ▲ +4.5 pp |
| 2012 | 85.1% | GBX3.77 Billion | GBX562.00 Million | GBX22.27 Billion | ▲ +251.8 pp |
| 2011 | -166.7% | GBX4.30 Billion | GBX11.46 Billion | GBX23.10 Billion | ▼ -59.1 pp |
| 2010 | -107.6% | GBX5.40 Billion | GBX11.22 Billion | GBX24.03 Billion | ▲ +34.9 pp |
| 2009 | -142.5% | GBX4.66 Billion | GBX11.31 Billion | GBX25.49 Billion | ▼ -73.6 pp |
| 2008 | -68.8% | GBX7.29 Billion | GBX12.31 Billion | GBX25.68 Billion | ▼ -9.6 pp |
| 2007 | -59.3% | GBX6.00 Billion | GBX9.56 Billion | GBX20.26 Billion | ▲ +24.5 pp |
| 2006 | -83.7% | GBX4.13 Billion | GBX7.59 Billion | GBX18.15 Billion | ▲ +109.3 pp |
| 2005 | -193.0% | GBX2.80 Billion | GBX8.22 Billion | GBX20.23 Billion | ▼ -63.6 pp |
| 2004 | -129.5% | GBX2.67 Billion | GBX6.12 Billion | GBX16.26 Billion | ▼ -122.4 pp |
| 2003 | -7.0% | GBX5.61 Billion | GBX6.00 Billion | GBX15.36 Billion | ▲ +5.8 pp |
| 2002 | -12.9% | GBX5.68 Billion | GBX6.42 Billion | GBX15.59 Billion | ▼ -9.1 pp |
| 2001 | -3.8% | GBX6.66 Billion | GBX6.91 Billion | GBX17.21 Billion | ▼ -1.0 pp |
| 2000 | -2.8% | GBX7.08 Billion | GBX7.27 Billion | GBX17.38 Billion | ▼ -17.3 pp |
| 1999 | 14.5% | GBX7.45 Billion | GBX6.37 Billion | GBX17.43 Billion | ▼ -69.6 pp |
| 1998 | 84.1% | GBX2.03 Billion | GBX322.00 Million | GBX9.05 Billion | ▲ +103.4 pp |
| 1997 | -19.3% | GBX1.45 Billion | GBX1.73 Billion | GBX7.82 Billion | ▼ -12.2 pp |
| 1996 | -7.0% | GBX1.71 Billion | GBX1.83 Billion | GBX7.72 Billion | ▲ +110.1 pp |
| 1995 | -117.1% | GBX939.00 Million | GBX2.04 Billion | GBX7.64 Billion | ▼ -50.9 pp |
| 1994 | -66.2% | GBX856.00 Million | GBX1.42 Billion | GBX7.84 Billion | ▼ -44.0 pp |
| 1993 | -22.2% | GBX1.55 Billion | GBX1.89 Billion | GBX10.83 Billion | ▼ -20.8 pp |
| 1992 | -1.4% | GBX2.02 Billion | GBX2.05 Billion | GBX10.88 Billion | ▼ -45.1 pp |
| 1991 | 43.6% | GBX2.96 Billion | GBX1.67 Billion | GBX10.17 Billion | ▼ -10.2 pp |
| 1990 | 53.8% | GBX2.86 Billion | GBX1.32 Billion | GBX9.29 Billion | ▲ +6.9 pp |
| 1989 | 46.8% | GBX2.50 Billion | GBX1.33 Billion | GBX9.18 Billion | ▲ +1.0 pp |
| 1988 | 45.9% | GBX2.11 Billion | GBX1.14 Billion | GBX6.49 Billion | ▲ +26.2 pp |
| 1987 | 19.7% | GBX1.02 Billion | GBX818.00 Million | GBX4.33 Billion | ▼ -38.8 pp |
| 1986 | 58.6% | GBX1.22 Billion | GBX505.80 Million | GBX3.28 Billion | ▼ -3.5 pp |
| 1985 | 62.0% | GBX1.19 Billion | GBX450.30 Million | GBX2.74 Billion | — |