BAE Systems Balance Sheet

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

Millions GBP. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	4,200	3,438	3,378	4,067	3,107	2,917
Trading Asset Securities	-	31	49	43	23	8
Cash & Short-Term Investments	4,200	3,469	3,427	4,110	3,130	2,925
Cash Growth	95.08%	1.23%	-16.62%	31.31%	7.01%	5.33%
Accounts Receivable	7,909	5,500	5,164	4,659	5,064	3,759
Other Receivables	157	667	620	711	687	693
Receivables	8,066	6,167	5,784	5,370	5,751	4,452
Inventory	1,536	1,384	1,324	1,156	976	811
Prepaid Expenses	-	924	1,005	933	509	444
Other Current Assets	155	203	213	204	268	186
Total Current Assets	13,957	12,147	11,753	11,773	10,634	8,818
Property, Plant & Equipment	6,936	6,798	6,598	4,946	4,660	3,943
Long-Term Investments	804	902	1,016	1,016	1,033	744
Goodwill	12,893	12,732	13,297	11,386	11,819	10,910
Other Intangible Assets	2,458	2,438	2,906	660	775	769
Long-Term Accounts Receivable	102	133	126	33	44	54
Long-Term Deferred Tax Assets	139	172	315	609	338	622
Long-Term Deferred Charges	-	75	59	53	50	37
Other Long-Term Assets	2,604	2,282	2,072	1,588	2,109	1,238
Total Assets	39,893	37,679	38,142	32,064	31,462	27,135

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Accounts Payable	6,812	3,348	3,081	2,400	1,900	1,620
Accrued Expenses	-	2,964	2,958	2,715	2,794	2,655
Short-Term Debt	3	-	-	-	-	-
Current Portion of Long-Term Debt	698	125	738	790	132	490
Current Portion of Leases	193	253	183	147	241	212
Current Income Taxes Payable	28	44	55	285	103	27
Current Unearned Revenue	5,533	4,891	4,578	3,926	3,991	3,009
Other Current Liabilities	406	678	749	680	685	683
Total Current Liabilities	13,673	12,303	12,342	10,943	9,846	8,696
Long-Term Debt	6,686	7,268	7,737	4,489	5,224	4,734
Long-Term Leases	1,573	1,513	1,658	1,273	1,375	1,083
Long-Term Unearned Revenue	2,351	3,125	3,007	3,099	1,951	1,327
Pension & Post-Retirement Benefits	403	406	503	575	651	2,607
Long-Term Deferred Tax Liabilities	53	26	14	10	5	77
Other Long-Term Liabilities	2,607	1,101	1,104	952	1,010	943
Total Liabilities	27,346	25,742	26,365	21,341	20,062	19,467

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Common Stock	79	79	80	81	82	85
Additional Paid-In Capital	1,253	1,253	1,253	1,253	1,252	1,252
Retained Earnings	5,050	4,773	4,038	3,024	3,132	414
Comprehensive Income & Other	5,993	5,679	6,245	6,201	6,749	5,685
Total Common Equity	12,375	11,784	11,616	10,559	11,215	7,436
Minority Interest	172	153	161	164	185	232
Shareholders' Equity	12,547	11,937	11,777	10,723	11,400	7,668
Total Liabilities & Equity	39,893	37,679	38,142	32,064	31,462	27,135

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Total Debt	9,153	9,159	10,316	6,699	6,972	6,519
Net Cash (Debt)	-4,953	-5,690	-6,889	-2,589	-3,842	-3,594
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-1.64	-1.88	-2.26	-0.84	-1.22	-1.12
Filing Date Shares Outstanding	2,993	2,993	3,003	3,026	3,070	3,160
Total Common Shares Outstanding	2,993	2,993	3,003	3,026	3,070	3,160
Working Capital	284	-156	-589	830	788	122
Book Value Per Share	4.13	3.94	3.87	3.49	3.65	2.35
Tangible Book Value	-2,976	-3,386	-4,587	-1,487	-1,379	-4,243
Tangible Book Value Per Share	-0.99	-1.13	-1.53	-0.49	-0.45	-1.34
Land	-	3,915	3,670	2,680	2,623	2,356
Machinery	-	4,702	4,398	3,945	3,829	3,482
Construction In Progress	-	1,137	1,237	1,144	839	672
Order Backlog	-	83,600	77,800	69,800	58,900	44,000