BAE Systems plc (BAESY)

BAE Systems Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	24,558	23,078	21,258	19,521	19,277	18,305
Revenue Growth (YoY)	9.07%	8.56%	8.90%	1.27%	5.31%	8.82%
Cost of Revenue	9,433	7,983	7,195	7,053	6,864	6,502
Gross Profit	15,125	15,095	14,063	12,468	12,413	11,803
Selling, General & Admin	7,953	7,940	7,431	6,640	6,681	6,457
Other Operating Expenses	3,955	4,012	3,786	3,283	3,348	3,087
Operating Expenses	12,690	12,734	11,981	10,624	10,700	10,156
Operating Income	2,435	2,361	2,082	1,844	1,713	1,647
Interest Expense	-444	-339	-269	-249	-240	-235
Interest & Investment Income	144	131	35	39	17	27
Earnings From Equity Investments	226	208	180	139	69	168
Currency Exchange Gain (Loss)	-49	210	-524	35	127	154
Other Non Operating Income (Expenses)	-24	-290	400	-39	-170	-105
EBT Excluding Unusual Items	2,288	2,281	1,904	1,769	1,516	1,656
Merger & Restructuring Charges	-62	-20	-16	-3	-20	-
Gain (Loss) on Sale of Investments	-	-	7	-	6	-
Gain (Loss) on Sale of Assets	10	10	97	350	41	-18
Asset Writedown	-5	-5	-3	-19	-4	-12
Other Unusual Items	60	60	-	13	57	-
Pretax Income	2,291	2,326	1,989	2,110	1,596	1,626
Income Tax Expense	368	386	315	198	225	94
Earnings From Continuing Operations	1,923	1,940	1,674	1,912	1,371	1,532
Minority Interest in Earnings	-83	-83	-83	-154	-72	-56
Net Income	1,840	1,857	1,591	1,758	1,299	1,476
Net Income to Common	1,840	1,857	1,591	1,758	1,299	1,476
Net Income Growth	-5.20%	16.72%	-9.50%	35.33%	-11.99%	47.60%
Shares Outstanding (Basic)	3,020	3,031	3,112	3,187	3,191	3,183
Shares Outstanding (Diluted)	3,061	3,072	3,153	3,211	3,210	3,201
Shares Change (YoY)	-1.56%	-2.57%	-1.81%	0.03%	0.28%	-
EPS (Basic)	0.61	0.61	0.51	0.55	0.41	0.46
EPS (Diluted)	0.60	0.60	0.51	0.55	0.41	0.46
EPS Growth	-4.07%	19.60%	-7.68%	35.06%	-12.15%	47.76%
Free Cash Flow	2,154	2,934	2,240	1,931	781	1,237
Free Cash Flow Per Share	0.70	0.96	0.71	0.60	0.24	0.39
Dividend Per Share	0.309	0.300	0.270	0.251	0.237	0.232
Dividend Growth	9.96%	11.11%	7.57%	5.91%	2.16%	4.50%
Gross Margin	61.59%	65.41%	66.15%	63.87%	64.39%	64.48%
Operating Margin	9.92%	10.23%	9.79%	9.45%	8.89%	9.00%
Profit Margin	7.49%	8.05%	7.48%	9.01%	6.74%	8.06%
Free Cash Flow Margin	8.77%	12.71%	10.54%	9.89%	4.05%	6.76%
EBITDA	3,011	2,822	2,521	2,224	2,061	1,945
EBITDA Margin	12.26%	12.23%	11.86%	11.39%	10.69%	10.63%
D&A For EBITDA	576	461	439	380	348	298
EBIT	2,435	2,361	2,082	1,844	1,713	1,647
EBIT Margin	9.92%	10.23%	9.79%	9.45%	8.89%	9.00%
Effective Tax Rate	16.06%	16.59%	15.84%	9.38%	14.10%	5.78%

Source: S&P Capital IQ. Standard template. Financial Sources.