BAE Systems Income Statement

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

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	27,406	26,312	23,078	21,258	19,521	19,277
Revenue Growth (YoY)	11.60%	14.01%	8.56%	8.90%	1.27%	5.31%
Cost of Revenue	23,926	22,919	20,109	18,484	17,018	16,979
Gross Profit	3,480	3,393	2,969	2,774	2,503	2,298
Selling, General & Admin	-38	-18	-41	37	65	68
Amortization of Goodwill & Intangibles	422	422	218	215	188	128
Other Operating Expenses	-68	-147	-133	-109	-107	-154
Operating Expenses	979	920	608	692	659	585
Operating Income	2,501	2,473	2,361	2,082	1,844	1,713
Interest Expense	-553	-555	-339	-269	-249	-240
Interest & Investment Income	93	117	131	35	39	17
Earnings From Equity Investments	236	213	208	180	139	69
Currency Exchange Gain (Loss)	211	90	210	-524	35	127
Other Non Operating Income (Expenses)	-147	-23	-290	400	-39	-170
EBT Excluding Unusual Items	2,341	2,315	2,281	1,904	1,769	1,516
Merger & Restructuring Charges	-72	-72	-20	-16	-3	-20
Gain (Loss) on Sale of Investments	94	94	-	7	-	6
Gain (Loss) on Sale of Assets	-6	-6	10	97	350	41
Asset Writedown	-12	-12	-5	-3	-19	-4
Other Unusual Items	13	13	60	-	13	57
Pretax Income	2,358	2,332	2,326	1,989	2,110	1,596
Income Tax Expense	294	291	386	315	198	225
Earnings From Continuing Operations	2,064	2,041	1,940	1,674	1,912	1,371
Minority Interest in Earnings	-87	-85	-83	-83	-154	-72
Net Income	1,977	1,956	1,857	1,591	1,758	1,299
Net Income to Common	1,977	1,956	1,857	1,591	1,758	1,299
Net Income Growth	7.45%	5.33%	16.72%	-9.50%	35.34%	-11.99%
Shares Outstanding (Basic)	3,005	3,013	3,031	3,112	3,187	3,191
Shares Outstanding (Diluted)	3,040	3,053	3,072	3,153	3,211	3,210
Shares Change (YoY)	-0.69%	-0.62%	-2.57%	-1.81%	0.03%	0.28%
EPS (Basic)	0.66	0.65	0.61	0.51	0.55	0.41
EPS (Diluted)	0.65	0.64	0.60	0.51	0.55	0.41
EPS Growth	8.52%	6.13%	19.60%	-7.68%	35.06%	-12.15%
Free Cash Flow	2,261	2,935	2,934	2,240	1,931	781
Free Cash Flow Per Share	0.74	0.96	0.95	0.71	0.60	0.24
Dividend Per Share	0.341	0.330	0.300	0.270	0.251	0.237
Dividend Growth	10.36%	10.00%	11.11%	7.57%	5.91%	2.15%
Gross Margin	12.70%	12.90%	12.86%	13.05%	12.82%	11.92%
Operating Margin	9.13%	9.40%	10.23%	9.79%	9.45%	8.89%
Profit Margin	7.21%	7.43%	8.05%	7.48%	9.01%	6.74%
Free Cash Flow Margin	8.25%	11.15%	12.71%	10.54%	9.89%	4.05%
EBITDA	3,356	3,251	2,822	2,521	2,224	2,061
EBITDA Margin	12.25%	12.36%	12.23%	11.86%	11.39%	10.69%
D&A For EBITDA	855	778	461	439	380	348
EBIT	2,501	2,473	2,361	2,082	1,844	1,713
EBIT Margin	9.13%	9.40%	10.23%	9.79%	9.45%	8.89%
Effective Tax Rate	12.47%	12.48%	16.59%	15.84%	9.38%	14.10%

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