Projected Income Statement: Airbus SE

Forecast Balance Sheet: Airbus SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -7,643 -5,477 -4,974 11,753 -12,171 -13,835 -17,748 -20,399
Change - 28.34% 9.18% 336.29% -203.56% -13.67% -28.28% -14.94%
Announcement Date 17/02/22 16/02/23 15/02/24 20/02/25 19/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Airbus SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,928 2,464 3,051 3,669 3,964 4,144 4,278 4,579
Change - 27.8% 23.82% 20.26% 8.04% 4.55% 3.23% 7.05%
Free Cash Flow (FCF) 1 3,515 3,824 4,386 4,463 4,031 4,453 6,347 7,906
Change - 8.79% 14.7% 1.76% -9.68% 10.46% 42.56% 24.55%
Announcement Date 17/02/22 16/02/23 15/02/24 20/02/25 19/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Airbus SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 13.79% 14.2% 12.35% 11.85% 13.98% 13.33% 13.84% 14.51%
EBIT Margin (%) 9.33% 9.58% 8.92% 7.73% 9.71% 9.44% 10.17% 11.27%
EBT Margin (%) 9.64% 8.64% 7.29% 7.84% 8.65% 9.06% 10.24% 10.77%
Net margin (%) 8.08% 7.23% 5.79% 6.11% 7.11% 7.28% 7.86% 8.26%
FCF margin (%) 6.74% 6.51% 6.7% 6.45% 5.49% 5.48% 6.96% 7.82%
FCF / Net Income (%) 83.43% 90.04% 115.76% 105.46% 77.21% 75.32% 88.61% 94.74%

Profitability

        
ROA 3.13% 3.64% 3.76% 3.22% 4.12% 4.17% 4.73% 5.4%
ROE 42.7% 37.89% 28.83% 21.4% 23.79% 20.41% 22.57% 22.9%

Financial Health

        
Leverage (Debt/EBITDA) - - - 1.43x - - - -
Debt / Free cash flow - - - 2.63x - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 3.7% 4.19% 4.66% 5.3% 5.4% 5.1% 4.69% 4.53%
CAPEX / EBITDA (%) 26.82% 29.53% 37.76% 44.71% 38.63% 38.28% 33.9% 31.23%
CAPEX / FCF (%) 54.85% 64.44% 69.56% 82.21% 98.34% 93.08% 67.4% 57.93%

Items per share

        
Cash flow per share 1 5.903 7.982 7.931 9.358 10.11 8.437 12.65 14.42
Change - 35.23% -0.65% 18% 8.02% -16.54% 49.92% 13.99%
Dividend per Share 1 1.5 1.8 1.8 2 3.2 3.318 3.891 4.874
Change - 20% 0% 11.11% 60% 3.7% 17.25% 25.28%
Book Value Per Share 1 12.05 16.44 22.47 24.88 33.16 36.48 42.46 47.95
Change - 36.47% 36.66% 10.72% 33.27% 10% 16.4% 12.93%
EPS 1 5.36 5.4 4.8 5.36 6.6 7.401 8.923 10.75
Change - 0.75% -11.11% 11.67% 23.13% 12.14% 20.56% 20.44%
Nbr of stocks (in thousands) 7,85,848 7,87,488 7,89,177 7,89,377 7,89,380 7,87,228 7,87,228 7,87,228
Announcement Date 17/02/22 16/02/23 15/02/24 20/02/25 19/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 23.9x 19.9x
PBR 4.86x 4.17x
EV / Sales 1.55x 1.34x
Yield 1.87% 2.2%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
BBB
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
177.20EUR
Average target price
216.25EUR
Spread / Average Target
+22.04%

Quarterly revenue - Rate of surprise