Bae Systems Financials

£9 B

Revenue H1, 2017

£19.6 B

Mkt cap, 05-Oct-2017
Gross profit (H1, 2017)799 M
Gross profit margin (H1, 2017), %8.9%
Net income (H1, 2017)559 M
EBIT (H1, 2017)865 M
Closing share price, 2017-10-056.2
Cash, 30-Jun-20172.4 B

Revenue/Financials

Income Statement

Annual

GBPFY, 2014FY, 2015FY, 2016

Revenue

15.4 b16.8 b17.8 b

Revenue growth, %

(9%)9%6%

Cost of goods sold

14.4 b15.6 b16.3 b

Gross profit

1 b1.2 b1.5 b

Gross profit Margin, %

7%7%9%

EBIT

1.3 b1.5 b1.7 b

EBIT margin, %

8%9%10%

Pre tax profit

882 m1.1 b1.2 b

Income tax expense

130 m147 m213 m

Net Income

752 m943 m938 m

Half Year

GBPH1, 2015H1, 2016H1, 2017

Revenue

8 b8.3 b9 b

Cost of goods sold

7.4 b7.6 b8.2 b

Gross profit

633 m715 m799 m

Gross profit Margin, %

8%9%9%

EBIT

700 m776 m865 m

EBIT margin, %

9%9%10%

Pre tax profit

508 m528 m714 m

Income tax expense

110 m110 m155 m

Net Income

398 m418 m559 m

Balance Sheet

Annual

GBPFY, 2014FY, 2015FY, 2016

Cash

2.3 b2.5 b2.8 b

Accounts Receivable

2.9 b2.9 b3.3 b

Current Assets

6 b6.3 b7 b

PP&E

1.6 b1.7 b2.1 b

Goodwill

9.7 b9.8 b10.9 b

Total Assets

19.8 b20.1 b23 b

Accounts Payable

6.7 b6.2 b6.5 b

Current Liabilities

8 b7.2 b7.3 b

Total Liabilities

17.9 b17.1 b19.5 b

Total Equity

1.9 b3 b3.5 b

Financial Leverage

10.5 x6.7 x6.6 x

Half Year

GBPH1, 2015H1, 2016H1, 2017

Cash

1.4 b2.2 b2.4 b

Accounts Receivable

3.1 b3.3 b3.7 b

Current Assets

5.3 b6.5 b7 b

PP&E

1.6 b1.9 b2.1 b

Total Assets

18.7 b21.6 b22.5 b

Accounts Payable

6.3 b5.9 b6.5 b

Current Liabilities

7.6 b6.9 b7.2 b

Total Liabilities

16.6 b19 b19 b

Total Equity

2.1 b2.6 b3.5 b

Financial Leverage

8.7 x8.4 x6.5 x

Cash Flow

Annual

GBPFY, 2014FY, 2015FY, 2016

Net Income

752 m943 m938 m

Depreciation and Amortization

657 m460 m345 m

Accounts Receivable

197 m60 m(93 m)

Inventories

(1 m)(6 m)95 m

Accounts Payable

(622 m)(542 m)(263 m)

Cash From Operating Activities

913 m924 m1.2 b

Purchases of PP&E

(263 m)(359 m)(408 m)

Cash From Investing Activities

55 m(220 m)(606 m)

Dividends Paid

(642 m)(655 m)(670 m)

Cash From Financing Activities

(638 m)(189 m)(465 m)

Net Change in Cash

86 m219 m158 m

Interest Paid

(152 m)(180 m)(200 m)

Income Taxes Paid

(92 m)(116 m)213 m

Half Year

GBPH1, 2015H1, 2016H1, 2017

Net Income

398 m418 m559 m

Depreciation and Amortization

184 m110 m167 m

Accounts Receivable

(248 m)(155 m)(411 m)

Inventories

(36 m)29 m(74 m)

Accounts Payable

(599 m)(470 m)(6 m)

Cash From Operating Activities

(257 m)143 m341 m

Purchases of PP&E

(134 m)(166 m)(166 m)

Cash From Investing Activities

(72 m)(159 m)(169 m)

Dividends Paid

(389 m)(397 m)(404 m)

Cash From Financing Activities

(453 m)(137 m)(568 m)

Net Change in Cash

(940 m)(326 m)(396 m)

Interest Paid

(98 m)(107 m)(107 m)

Income Taxes Paid

(60 m)110 m155 m

Ratios

GBPY, 2017

Revenue/Employee

107.9 k

Financial Leverage

6.5 x
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Operating Metrics

Bae Systems's Backlog was reported to be $42.3b in H1, 2017.
FY, 2014H1, 2015FY, 2015H1, 2016FY, 2016H1, 2017Feb, 2018

Hybrid-electric Propulsion Systems Sold

1 k

Advanced Precision Kill Weapon System Sold

3.50 k5 k8 k

Airplanes Delivered

219 236 232

Backlog

£40.50 b£37.30 b£36.80 b£36.30 b£42 b$42.30 b

Countries

40 40 40 40 40 40 40

Order Intake

£15.10 b£14.92 b£22.44 b£10.65 b
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