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 -13,810 -17,288 -21,892
Change - 28.34% 9.18% 336.29% -203.56% -13.47% -25.18% -26.63%
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 4,199 4,353 4,460
Change - 27.8% 23.82% 20.26% 8.04% 5.92% 3.68% 2.44%
Free Cash Flow (FCF) 1 3,515 3,824 4,386 4,463 4,031 4,345 5,969 7,739
Change - 8.79% 14.7% 1.76% -9.68% 7.8% 37.37% 29.64%
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% 13.41% 13.88% 14.63%
EBIT Margin (%) 9.33% 9.58% 8.92% 7.73% 9.71% 9.45% 10.15% 11.23%
EBT Margin (%) 9.64% 8.64% 7.29% 7.84% 8.65% 9.2% 10.02% 10.81%
Net margin (%) 8.08% 7.23% 5.79% 6.11% 7.11% 7.14% 7.73% 8.29%
FCF margin (%) 6.74% 6.51% 6.7% 6.45% 5.49% 5.4% 6.65% 7.73%
FCF / Net Income (%) 83.43% 90.04% 115.76% 105.46% 77.21% 75.62% 85.97% 93.2%

Profitability

        
ROA 3.13% 3.64% 3.76% 3.22% 4.12% 4.17% 4.73% 5.37%
ROE 42.7% 37.89% 28.83% 21.4% 23.79% 20.29% 21.51% 22.79%

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% 5.22% 4.85% 4.45%
CAPEX / EBITDA (%) 26.82% 29.53% 37.76% 44.71% 38.63% 38.9% 34.91% 30.43%
CAPEX / FCF (%) 54.85% 64.44% 69.56% 82.21% 98.34% 96.63% 72.93% 57.63%

Items per share

        
Cash flow per share 1 5.903 7.982 7.931 9.358 10.11 9.274 11.88 13.71
Change - 35.23% -0.65% 18% 8.02% -8.26% 28.07% 15.45%
Dividend per Share 1 1.5 1.8 1.8 2 3.2 3.349 3.943 4.832
Change - 20% 0% 11.11% 60% 4.67% 17.74% 22.54%
Book Value Per Share 1 12.05 16.44 22.47 24.88 33.16 37.06 42.91 49.65
Change - 36.47% 36.66% 10.72% 33.27% 11.77% 15.77% 15.71%
EPS 1 5.36 5.4 4.8 5.36 6.6 7.216 8.769 10.59
Change - 0.75% -11.11% 11.67% 23.13% 9.33% 21.52% 20.82%
Nbr of stocks (in thousands) 785,848 787,488 789,177 789,377 789,380 787,228 787,228 787,228
Announcement Date 17/02/22 16/02/23 15/02/24 20/02/25 19/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 24.9x 20.5x
PBR 4.84x 4.18x
EV / Sales 1.58x 1.38x
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
23
Last Close Price
179.48EUR
Average target price
211.31EUR
Spread / Average Target
+17.73%

Quarterly revenue - Rate of surprise