BAE SYSTEMS PLC
London-listed BAE Systems plc is a British multinational aerospace, defence, and information security contractor that designs and manufactures military aircraft, naval vessels, submarines, and weapons systems.
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Cash
£3.4B
+1.8% vs 2024
Net assets
£12B
+1.4% highest in 3 filed years
Employees
107,300
+3.2% highest in 3 filed years
Profit before tax
£2.6B
+10.3% highest in 3 filed years
Watch the reel
Our short-form breakdown of BAE SYSTEMS PLC's latest filing
A steady year of growth for the UK's biggest defence contractor. 🛩️
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £23,078,000,000 | £26,312,000,000 | £28,336,000,000 | +7.7% | |
| Operating profit | £2,573,000,000 | £2,685,000,000 | £2,925,000,000 | +8.9% | |
| Profit before tax | £2,326,000,000 | £2,332,000,000 | £2,572,000,000 | +10.3% | |
| Net profit | £1,940,000,000 | £2,041,000,000 | £2,151,000,000 | +5.4% | |
| Cash | £4,067,000,000 | £3,378,000,000 | £3,438,000,000 | +1.8% | |
| Total assets less current liabilities | — | £26,281,000,000 | £25,054,000,000 | -4.7% | |
| Net assets | £10,723,000,000 | £11,777,000,000 | £11,937,000,000 | +1.4% | |
| Equity | £10,723,000,000 | £11,777,000,000 | £11,937,000,000 | +1.4% | |
| Average employees | 89,000 | 104,000 | 107,300 | +3.2% | |
| Wages | £6,803,000,000 | £7,999,000,000 | £8,439,000,000 | +5.5% | |
| Directors' remuneration | £2,254,085 | £25,824,000 | £31,535,000 | +22.1% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 11.1% | 10.2% | 10.3% | |
| Net margin | 8.4% | 7.8% | 7.6% | |
| Return on capital employed | — | 10.2% | 11.7% | |
| Gearing (liabilities / total assets) | — | 69.1% | 68.3% | |
| Current ratio | 1.08x | 0.66x | 0.65x | |
| Interest cover | 6.14x | 7.61x | 5.99x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- BAE SYSTEMS PLC 2000-05-05 → present
- BRITISH AEROSPACE PUBLIC LIMITED COMPANY 1981-12-31 → 2000-05-05
- BRITISH AEROSPACE LIMITED 1979-12-31 → 1981-12-31
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors, having made appropriate enquiries and having considered the principal risks, confirm that they have a reasonable expectation that the Company will continue in operational existence for the period of 12 months from the date of approval of the financial statements and that it is appropriate to adopt the going concern basis of accounting.”
Group structure
- BAE SYSTEMS PLC · parent
- BAE Systems (Operations) Limited 100%
- BAE Systems (Funding Two) Limited 100%
- BAE Systems Land & Armaments L.P. 100%
- BAE Systems Overseas (Holdings) Limited
Significant events
- “2025: Group disposed of a portion of its 17% interest in Air Astana, a Kazakhstan airline, resulting in a profit on disposal of £12m.”
- “2024: Group disposed of its 51% shareholding in Innovaero Pty Ltd, an Australian aerospace and defence company, resulting in neither profit nor loss.”
- “2024: Group sold BAE Systems Imaging Solutions Inc., generating £38m cash proceeds and a profit on disposal of £12m.”
- “2024: IPO of Air Astana, in which BAE Systems PLC held a 49% stake. The Group received cash proceeds of £75m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
13 active · 60 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CLARKE, Anthony | Secretary | 2024-05-09 | — | — |
| ANDERSON, Nicholas John | Director | 2020-11-01 | Jan 1961 | British |
| ARSENEAULT, Thomas Arnold | Director | 2020-04-01 | Oct 1963 | American |
| ASHBY, Crystal | Director | 2021-09-01 | Apr 1961 | American |
| COCKBURN, Angus George | Director | 2023-11-06 | Jun 1963 | British |
| GREVE, Bradley Madsen | Director | 2020-04-01 | Jul 1967 | American |
| GRIFFITHS, Jane Veronica, Dr | Director | 2020-04-01 | Nov 1955 | British |
| HOGG, Cressida Mary | Director | 2022-11-01 | Jul 1969 | British |
| KIRK, Ewan Mckinnon, Dr | Director | 2021-06-01 | Feb 1961 | British |
| PEARCE, Stephen Thomas | Director | 2019-06-01 | Feb 1964 | Australian |
| PETTIGREW, John Mark | Director | 2026-02-23 | Oct 1968 | British |
| PIASECKI, Nicole Weyerhaeuser | Director | 2019-06-01 | Jun 1962 | American |
| WOODBURN, Charles Nicholas | Director | 2016-05-09 | Mar 1971 | British |
Show 60 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CARROLL, Stuart Paul | Secretary | 1996-11-13 | 1999-02-26 |
| PARKES, David Stanley | Secretary | 1999-02-26 | 2024-05-09 |
| WINDRIDGE, Susan Doreen | Secretary | — | 1996-11-13 |
| ADVAITHI, Revathi | Director | 2018-01-01 | 2020-06-25 |
| ANDERSON, Paul Milton | Director | 2009-10-08 | 2014-12-31 |
| BAUMAN, Robert Patten | Director | 1994-04-26 | 1998-05-01 |
| BIGGAM, Robin Adair, Sir | Director | 1994-01-01 | 2003-04-29 |
| BIRLEY, Susan Joyce, Professor | Director | 2000-11-22 | 2007-05-09 |
| BLYTH OF ROWINGTON, James, Lord | Director | — | 1994-04-26 |
| BROWN, Keith Clark | Director | — | 2003-04-29 |
| CAHILL, John Conway | Director | — | 1994-04-26 |
| CARR, Roger Martyn, Sir | Director | 2013-10-01 | 2023-05-04 |
| CARROLL JNR, Philip Joseph | Director | 2005-09-07 | 2010-05-05 |
| CARTELLIERI, Ulrich, Doctor | Director | 1999-12-01 | 2007-09-26 |
| COOKSON, Brian | Director | — | 1992-06-30 |
| CORLEY, Elizabeth Pauline Lucy | Director | 2016-02-01 | 2025-11-30 |
| DAY, Judson Graham, Sir | Director | — | 1993-09-14 |
| DEMURO, Gerard Joseph | Director | 2014-02-01 | 2020-03-31 |
| EVANS, Richard Harry | Director | 1992-05-23 | 2004-06-30 |
| FAIRBAIRN, Carolyn Julie, Dame | Director | 2021-03-01 | 2022-05-05 |
| GEOGHEGAN, Christopher Vincent | Director | 2002-07-10 | 2007-12-31 |
| GERSHON, Peter Oliver, Sir | Director | 1999-11-29 | 2000-03-31 |
| GILLIBRAND, Sydney | Director | — | 1995-06-30 |
| GREEN, Harriet | Director | 2010-11-01 | 2019-11-07 |
| GRIGG, Christopher Montague | Director | 2013-07-01 | 2023-12-31 |
| HAMPEL, Ronald Claus, Sir | Director | — | 2002-05-31 |
| HARTNALL, Michael James | Director | 2003-06-10 | 2012-05-02 |
| HAVENSTEIN, Walter Perry | Director | 2007-01-02 | 2009-06-21 |
| HESKETH, Thomas Alexander, Lord | Director | 1994-01-01 | 2005-05-04 |
| HOLLICK OF NOTTING HILL, Clive Richard, Lord | Director | — | 1997-05-28 |
| HUDSON, Linda Parker | Director | 2009-10-26 | 2014-02-01 |
| INGLIS, Andrew George | Director | 2007-06-13 | 2010-07-09 |
| KING, Ian Graham, Mr. | Director | 2007-01-01 | 2017-06-30 |
| KIRK, Robert Leonard | Director | — | 1997-04-30 |
| LAPTHORNE, Richard Douglas | Director | 1992-07-11 | 1999-09-30 |
| LESTER, Michael | Director | 1999-11-29 | 2006-12-31 |
| LYNAS, Peter John, Mr. | Director | 2011-04-01 | 2020-03-31 |
| MASEFIELD, Charles Beech Gordon, Sir | Director | 1999-11-29 | 2003-02-28 |
| MASON, Peter James, Sir | Director | 2003-01-22 | 2013-05-08 |
| MCINTIRE, Lee Alan | Director | 2011-06-01 | 2013-08-20 |
| MOGFORD, Steven Lewis | Director | 2000-04-01 | 2007-05-09 |
| MOULD, Harold Raymond | Director | — | 1992-08-14 |
| OLVER, Richard Lake, Sir | Director | 2004-05-17 | 2014-02-01 |
| PORTILLO, Michael Denzil Xavier, The Rt Hon | Director | 2002-09-11 | 2006-05-04 |
| QUARTA, Roberto | Director | 2005-09-07 | 2011-12-31 |
| REYNOLDS, Paula Rosput | Director | 2011-04-01 | 2020-12-31 |
| RONALD, Mark Henry | Director | 2002-05-03 | 2006-12-31 |
| ROSE, George Wilfred | Director | 1998-04-01 | 2011-03-31 |
| ROSE, Nicholas Charles | Director | 2010-02-08 | 2020-12-31 |
| RUDD, Anthony Nigel Russell, Sir | Director | 2006-09-10 | 2009-12-31 |
| SAUNDRY, Frank Bailey | Director | — | 1992-06-30 |
| SCARONI, Paolo | Director | 2000-11-22 | 2004-05-05 |
| SEDWILL, Mark Philip, Lord | Director | 2022-11-01 | 2024-09-10 |
| SIMPSON, George, Lord | Director | — | 1994-03-31 |
| SYMON, Carl George | Director | 2008-06-11 | 2015-06-12 |
| TURNER, Michael John | Director | 1994-01-01 | 2008-08-31 |
| TYLER, Ian Paul | Director | 2013-05-08 | 2022-05-05 |
| UPPAL, Ravi Kant | Director | 2008-04-02 | 2011-04-01 |
| WEINBERG, Peter Amory | Director | 2005-06-16 | 2008-05-07 |
| WESTON, John Pix | Director | 1994-01-01 | 2002-03-25 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 3919 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-05 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-26 | AA | accounts | Accounts with accounts type group | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-17 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-05 | RESOLUTIONS | resolution | Resolution | |
| 2026-05-29 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-05-29 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-05-29 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-05-29 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-04-07 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-04-07 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-04-07 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-04-02 | SH04 | capital | Capital sale or transfer treasury shares with date currency capital figure | |
| 2026-03-10 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 17
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.