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FTSE Factsheet FTSE COMPANY REPORT Share price analysis relative to sector and index performance BAE Systems BA. Aerospace and Defense — GBP 5.36 at close 18 June 2021 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 18-Jun-2021 18-Jun-2021 18-Jun-2021 5.5 120 110 1D WTD MTD YTD Absolute -1.5 0.0 1.8 9.7 115 105 Rel.Sector 0.7 1.3 1.9 4.2 Rel.Market 0.2 1.7 2.1 0.7 5 110 100 VALUATION 4.5 105 95 Trailing Relative Price Relative Price Relative 100 90 PE 13.0 Absolute Price (local currency) (local Price Absolute 4 EV/EBITDA 8.8 95 85 PB 3.6 PCF 17.2 3.5 90 80 Div Yield 4.5 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Price/Sales 0.9 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 1.4 90 100 80 Div Payout 58.7 90 80 70 ROE 25.9 70 80 60 Share Index) Share Share Sector) Share - - 70 60 DESCRIPTION 60 50 50 50 40 The Company is a group delivering, through its wholly 40 RSI RSI (Absolute) 40 owned subsidiaries and equity accounted 30 30 investments, a full range of products and services for 30 air, land and naval forces; as well as, advanced 20 20 20 electronics, security, information technology solutions RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative and customer support services. 10 10 10 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: BAE Systems 18 June 2021 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 31-May-2021 31-May-2021 31-May-2021 25 13 6.5 6 +1SD 12 20 5.5 11 +1SD +1SD 5 Avg 10 4.5 15 Avg 4 Avg -1SD 9 3.5 8 -1SD 10 3 -1SD 7 2.5 5 6 2 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Avon Rubber 120.0 Rolls-Royce Holdings 43.3 Avon Rubber 5.3 Chemring Group 24.9 Avon Rubber 20.9 Aerospace and Defense 5.1 Ultra Electronics Holdings 17.4 Meggitt 15.9 BAE Systems 3.6 Qinetiq Group 16.4 Senior 15.2 Ultra Electronics Holdings 3.1 BAE Systems 13.0 Aerospace and Defense 11.5 Chemring Group 2.6 Rolls-Royce Holdings -2.8 Ultra Electronics Holdings Meggitt Senior -4.2 10.7 2.0 Babcock International Group -7.7 Qinetiq Group 9.8 Senior 1.7 Meggitt -12.6 BAE Systems 8.8 Babcock International Group 0.6 Aerospace and Defense -18.4 Babcock International Group 5.5 Rolls-Royce Holdings 0.0 -40 -20 0 20 40 60 80 100 120 140 0 5 10 15 20 25 30 35 40 45 50 0 1 2 3 4 5 6 Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS) 31-May-2021 31-May-2021 31-May-2021 30 6 1.3 5.5 1.2 25 1.1 +1SD 5 +1SD 20 1 +1SD Avg 4.5 0.9 15 Avg -1SD 4 Avg 0.8 10 -1SD 3.5 -1SD 0.7 5 3 0.6 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Avon Rubber 80.0 BAE Systems 4.5 Avon Rubber 5.7 Meggitt 25.8 Ultra Electronics Holdings 2.8 Meggitt 2.4 BAE Systems 17.2 Aerospace and Defense 2.5 Chemring Group 2.1 Senior 13.6 Babcock International Group 2.4 Ultra Electronics Holdings 1.7 Qinetiq Group 11.2 Qinetiq Group 1.9 Aerospace and Defense 0.9 Ultra Electronics Holdings 11.2 Avon Rubber 0.9 Senior 0.9 Babcock International Group 4.0 Senior 0.0 BAE Systems 0.9 Rolls-Royce Holdings -2.8 Rolls-Royce Holdings 0.0 Rolls-Royce Holdings 0.8 Aerospace and Defense -40.7 Meggitt 0.0 Babcock International Group 0.3 -60 -40 -20 0 20 40 60 80 100 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 0 1 2 3 4 5 6 7 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing. 2 of 4 FTSE COMPANY REPORT: BAE Systems 18 June 2021 Valuation Metrics Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE) 31-May-2021 31-May-2021 31-May-2021 1.5 90 40 +1SD 1.4 80 70 35 1.3 +1SD Avg 60 +1SD 1.2 30 50 -1SD 1.1 Avg 40 Avg 1 25 30 0.9 20 20 -1SD 0.8 -1SD 10 0.7 0 15 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 BAE Systems 1.4 Avon Rubber 100.0 BAE Systems 25.9 Babcock International Group 1.2 BAE Systems 58.7 Ultra Electronics Holdings 18.7 Aerospace and Defense 1.0 Ultra Electronics Holdings 48.2 Qinetiq Group 14.0 Senior 0.6 Qinetiq Group 30.3 Chemring Group 10.9 Ultra Electronics Holdings 0.5 Rolls-Royce Holdings 0.0 Aerospace and Defense 7.2 Meggitt 0.5 Meggitt 0.0 Avon Rubber 5.3 Avon Rubber 0.3 Chemring Group 0.0 Babcock International Group -7.2 Chemring Group 0.2 Babcock International Group 0.0 Meggitt -14.0 Qinetiq Group 0.0 Aerospace and Defense 0.0 Senior -33.3 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 0 20 40 60 80 100 120 -40 -30 -20 -10 0 10 20 30 ROE vs. PB — sector Du Pont Analysis 5.5 7 30 AVON Aerospace and De 5.0 6 25 4.5 5 4.0 20 BA. 3.5 4 15 PB ULE 3.0 3 CHG 2.5 10 QQ. 2 2.0 MGGT SNR 5 1.5 1 1.0 0 0 2017 2018 2019 2020 2021 BAB 0.5 0 2 4 6 8 10 12 14 16 18 20 22 24 26 Net Margin Asset Turnover Gearing ROE (rhs) ‖ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing. 3 of 4 FTSE COMPANY REPORT: BAE Systems 18 June 2021 Brief description Brief description Price to Earnings Price to Earnings (PE) is price over earnings per share. Earnings are based on the latest Gearing Gearing is Total Assets divided by Common Equity. Total Assets and Common Equity are (PE) available fiscal year earnings. each averaged over two years, that is, t and (t-1). Price to Sales (PS) Price to Sales (PS) is price divided by sales per share. It is based on sales from continuing Asset Turnover Asset turnover is Sales divided by Total Assets. Total Assets is averaged over two years, operations for the fiscal year. that is, t and (t-1). Price to Book (PB) Price to Book (PB) is price at the indicated date divided by common equity per share. Dupont Breakdown Return on Equity (RoE) = Net Margin * Gearing * Asset Turnover Common/ordinary equity is generally as reported at the most recent fiscal year-end but is Analysis adjusted to exclude minority interest, preferred stock and selected items as appropriate. RoE vs PB Plot of RoE versus PB at last month end for all FTSE UK All Share stocks in the sector Price to Cash Flow Price to Cash Flow (PCF) is price at the indicated date divided by cash flow per share. relative to the stock in question. Data may be limited to the stock in question if there are (PCF) currently no stocks in the corresponding FTSE UK All Share sector. Net Debt Equity Net Debt Equity is Net Debt as a percentage of common equity. Not calculated if Absolute Absolute graphs reflect performance for the stock in question for up to 366 days adjusted denominator (common equity) is negative for intervening corporate actions. EV to EBITDA EV to EBITDA is Enterprise Value divided by EBITDA (Earnings before Interest and Taxes, Relative Relative charts reflect the performance for the stock in question relative to the depreciation and amortisation). EV is full company Market Capitalisation at the data date corresponding sector of the FTSE All Share Index for up to 366 days, rebased to the start plus last annual net debt and Preferred Stock.
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