BAE Systems Balance Sheet

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	3,438	3,378	4,067	3,107	2,917
Trading Asset Securities	-	49	43	23	8
Cash & Short-Term Investments	3,438	3,427	4,110	3,130	2,925
Cash Growth	0.32%	-16.62%	31.31%	7.01%	5.33%
Accounts Receivable	6,959	5,164	4,659	5,064	3,759
Other Receivables	183	620	711	687	693
Receivables	7,142	5,784	5,370	5,751	4,452
Inventory	1,384	1,324	1,156	976	811
Prepaid Expenses	-	1,005	933	509	444
Other Current Assets	183	213	204	268	186
Total Current Assets	12,147	11,753	11,773	10,634	8,818
Property, Plant & Equipment	6,798	6,598	4,946	4,660	3,943
Long-Term Investments	822	849	1,016	1,033	744
Goodwill	12,732	13,297	11,386	11,819	10,910
Other Intangible Assets	2,513	2,906	660	775	769
Long-Term Accounts Receivable	117	126	33	44	54
Long-Term Deferred Tax Assets	172	315	609	338	622
Long-Term Deferred Charges	-	59	53	50	37
Other Long-Term Assets	2,378	2,239	1,588	2,109	1,238
Total Assets	37,679	38,142	32,064	31,462	27,135
Accounts Payable	6,686	3,081	2,400	1,900	1,620
Accrued Expenses	-	2,958	2,715	2,794	2,655
Current Portion of Long-Term Debt	95	738	790	132	490
Current Portion of Leases	253	183	147	241	212
Current Income Taxes Payable	44	55	285	103	27
Current Unearned Revenue	4,820	4,578	3,926	3,991	3,009
Other Current Liabilities	405	749	680	685	683
Total Current Liabilities	12,303	12,342	10,943	9,846	8,696
Long-Term Debt	7,190	7,737	4,489	5,224	4,734
Long-Term Leases	1,513	1,658	1,273	1,375	1,083
Long-Term Unearned Revenue	1,746	3,007	3,099	1,951	1,327
Pension & Post-Retirement Benefits	406	503	575	651	2,607
Long-Term Deferred Tax Liabilities	26	14	10	5	77
Other Long-Term Liabilities	2,558	1,104	952	1,010	943
Total Liabilities	25,742	26,365	21,341	20,062	19,467
Common Stock	79	80	81	82	85
Additional Paid-In Capital	1,253	1,253	1,253	1,252	1,252
Retained Earnings	4,571	4,038	3,024	3,132	414
Comprehensive Income & Other	5,881	6,245	6,201	6,749	5,685
Total Common Equity	11,784	11,616	10,559	11,215	7,436
Minority Interest	153	161	164	185	232
Shareholders' Equity	11,937	11,777	10,723	11,400	7,668
Total Liabilities & Equity	37,679	38,142	32,064	31,462	27,135
Total Debt	9,051	10,316	6,699	6,972	6,519
Net Cash (Debt)	-5,613	-6,889	-2,589	-3,842	-3,594
Net Cash Per Share	-1.85	-2.26	-0.84	-1.22	-1.12
Filing Date Shares Outstanding	2,995	3,003	3,026	3,070	3,160
Total Common Shares Outstanding	2,995	3,003	3,026	3,070	3,160
Working Capital	-156	-589	830	788	122
Book Value Per Share	3.93	3.87	3.49	3.65	2.35
Tangible Book Value	-3,461	-4,587	-1,487	-1,379	-4,243
Tangible Book Value Per Share	-1.16	-1.53	-0.49	-0.45	-1.34
Land	-	3,670	2,680	2,623	2,356
Machinery	-	4,398	3,945	3,829	3,482
Construction In Progress	-	1,237	1,144	839	672
Order Backlog	83,600	77,800	69,800	58,900	44,000

Source: S&P Global Market Intelligence. Standard template. Financial Sources.