Airbus SE
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5-year stock timeline
2026 July–September — H1 2026 results, guidance reaffirmed and backlog growth
Airbus published H1 2026 results on 29 July, showing strong order intake and reaffirmed full-year 2026 guidance across deliveries, adjusted EBIT, and free cash flow before customer financing. Management noted working-capital pressure from inventory build as the A320 ramp-up continues.
Investors absorbed a mix of robust demand—record backlog and high gross orders—alongside near-term cash pressure from the production build-up. Market perception shifted toward a "growth at scale" narrative driven by the A320 family ramp, with heightened focus on execution and cash conversion during the scaling phase.
H1 deliveries reached 351 commercial aircraft: 44 A220, 271 A320 Family, 10 A330, 26 A350. Net order backlog stood at approximately 9,222 aircraft. Free cash flow before customer financing showed a €1.2 billion shortfall in the half. Full-year 2026 guidance: around 870 commercial aircraft deliveries, adjusted EBIT around €7.5 billion, free cash flow before customer financing around €4.5 billion [1][14].
2026 February — FY 2025 results: deliveries rise and backlog expands
Airbus reported FY 2025 results on 18 February 2026, with increased deliveries year-on-year and strong gross and net order intake.
This confirmed the recovery narrative and reinforced that Airbus is scaling production to meet a multi-year demand cycle. Investor sentiment improved on visible delivery momentum and backlog depth, though attention remained on execution during the ramp.
2025 saw 793 commercial aircraft delivered: 93 A220, 607 A320 Family, 36 A330, 57 A350. Gross orders reached 1,000 with net orders of 889. FY 2026 delivery guidance was set at approximately 870 aircraft [2][3][7].
2025 — A320 family demand and production ramp guidance
During 2025 Airbus increased A320 Family deliveries and publicly set a roadmap to raise A320 Family production toward 70–75 per month by end-2027.
The market increasingly framed Airbus as the primary beneficiary of the narrow-body cycle, with strong order intake for the A320neo family from lessors and airlines. Analysts debated whether supply chain and supplier capacity—engines, nacelles, components—would constrain the ramp. The perception: a long-run growth story with near-term execution risk.
2025 A320 Family deliveries were 607 aircraft. A320 Family backlog reached approximately 7,163 aircraft, reflecting orders booked in 2025. Target production rate for the A320 Family was set at 70–75 per month by end-2027 [11][7][14].
2024–2025 — Post-COVID recovery solidifies, deliveries accelerate
Airbus delivered 766 aircraft in 2024 and continued to raise production and deliveries through 2025 as air travel recovery progressed.
Investor sentiment moved from "recovery play" to "normalized growth," with optimism about restoring pre-pandemic production rates. Creditors and investors tracked cash generation recovery and whether Airbus could sustainably improve margins while funding ramp inventory.
2024 deliveries totaled 766 aircraft: 75 A220, 602 A320 Family, 32 A330, 57 A350. 2025 deliveries reached 793, showing year-on-year improvement [15][2].
2023 — Supply-chain and engine reliability headwinds remain; order momentum returns
Through 2023 Airbus continued to face supplier constraints, including engine availability and reliability problems on some A320neo variants, even as gross order intake recovered. Airbus and customers negotiated delivery timing and engine support.
Market view held that strong demand existed but execution risk remained. Airbus was no longer seen as a COVID-recovery laggard but as a firm with operational obstacles to clear. Equity narratives split between "compounder benefiting from structural demand" and "execution-sensitive cyclical OEM."
Industry reporting flagged A320neo engine reliability and inspections affecting some operators. Airbus delivery cadence and backlog growth remained focal metrics [10][30].
2022 — Recovery momentum, order intake rebounds and A350 programme developments
Airbus reported improved deliveries and a rebound in orders in FY 2022 compared with pandemic lows. The company advanced freighter and A350 family activity while monitoring production quality and certification topics.
Investors increasingly viewed Airbus as executing a structural recovery backed by robust demand. However, scrutiny of programme quality control and supplier constraints—engines, components—persisted, tempering some enthusiasm.
FY 2021 baseline showed 611 aircraft delivered. 2022 results documented ramp plans and order intake recovery [16][22].
2021 — Delivery target achieved and A350F launch; backlog large but pandemic hangover remains
Airbus achieved its 2021 commercial delivery target of 611 aircraft for the year and launched the A350 freighter (A350F) programme with initial commitments.
After the worst of the COVID shock, market perception turned cautiously positive. Airbus demonstrated resilience and the ability to resume ramp-up plans, yet investors remained mindful that travel recovery, supplier constraints, and cash conversion would determine near-term returns. The company was seen as moving from crisis management toward rebuilding production momentum.
FY 2021 deliveries: 611 commercial aircraft comprising 50 A220, 483 A320 Family, 18 A330, 55 A350, 5 A380. Gross orders reached 771 with net orders of 507. End-2021 backlog stood at approximately 7,082 aircraft [16][22][29].
Key risks and downside factors
Airbus SE (AIR.XETRA) operates across commercial aircraft, helicopters, and defense/space segments. Boeing remains its principal rival in large commercial jets and a significant competitor in defense. Regional and narrow-body aircraft face competition from Embraer and China's COMAC, while the helicopter and military markets include Leonardo, Lockheed Martin, and Sikorsky as competitors. The business carries material exposure to supply-chain disruption and production delays, geopolitical tensions with associated export controls and sanctions, currency fluctuations tied to commercial cycles, and regulatory certification along with litigation risk—each capable of delaying aircraft deliveries or raising costs materially.[15][10][13]
- Supply chain and production disruption risk stem from dependence on global tier-1 suppliers paired with extended lead times, which can constrain deliveries and elevate costs when strikes occur, components become scarce, or suppliers encounter operational failures.[13][15]
- Geopolitical, sanctions and export control risk: sanctions or export‑control restrictions—such as those affecting Russia or dual‑use technology rules—can ground aircraft fleets, block market access, and expose Airbus to legal penalties.[12][13]
- Commercial aircraft revenues are predominantly invoiced in USD while operating costs run in EUR, creating margin sensitivity to USD/EUR fluctuations and cyclical shifts in air travel demand.[13][15]
- Regulatory, certification, and litigation risks—encompassing safety certifications, investigations, and legal actions including bribery and export probes—can extend program timelines, elevate R&D and certification expenses, and damage brand reputation.[12][15]
Competitive landscape
Airbus operates as one of two global commercial-aircraft duopolists, competing across commercial, defense, helicopters and space markets. Its principal competitive threats come from large integrated aerospace peers, notably Boeing, and rising state-backed manufacturers including COMAC and UAC/Irkut, alongside aero-engine and systems suppliers that influence pricing and delivery timelines. Key risks span program execution and supply-chain delays, geopolitical and regulatory actions such as sanctions and export controls, cyclicality in airline demand and financing capacity, and defense contract pressures that can shift both margins and backlog composition.
| Company | Ticker |
|---|---|
| Boeing Company | BA.NYSE |
| Textron Inc. | TXT.NYSE |
| General Dynamics | GD.NYSE |
Private competitors
- SpaceX
- Some state-backed domestic OEM JV entities in China (local COMAC partners and suppliers)
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Relative Performance vs Benchmarks
| Period | Airbus SE | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -5.41% | -2.08% | -6.82% |
| 3M | -4.37% | -4.46% | -8.27% |
| 6M | +12.96% | +7.34% | -2.28% |
| 1Y | -5.33% | -8.43% | -23.02% |
| 3Y | +60.36% | -4.72% | -27.72% |
| 5Y | +80.90% | +15.56% | -9.34% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 25.0 | 1.9 | 5.7 | 16.3 |
| 1Y ago | 31.3 | 2.2 | 5.8 | 21.4 |
| 3Y ago | 24.4 | 1.6 | 6.4 | 19.7 |
| 5Y ago | 21.5 | 1.6 | 10.2 | 10.2 |
Frequently Asked Questions
Where is the Airbus SE stock traded?
What does Airbus SE do?
What are the key metrics for AIR.XETRA?
How has Airbus SE's stock price performed?
How is AIR.XETRA valued?
Does AIR.XETRA pay dividends?
What are the key risks when investing in AIR.XETRA?
- Supply chain and production disruption risk stem from dependence on global tier-1 suppliers paired with extended lead times, which can constrain deliveries and elevate costs when strikes occur, components become scarce, or suppliers encounter operational failures.[web:13][web:15]
- Geopolitical, sanctions and export control risk: sanctions or export‑control restrictions—such as those affecting Russia or dual‑use technology rules—can ground aircraft fleets, block market access, and expose Airbus to legal penalties.[web:12][web:13]
- Commercial aircraft revenues are predominantly invoiced in USD while operating costs run in EUR, creating margin sensitivity to USD/EUR fluctuations and cyclical shifts in air travel demand.[web:13][web:15]
- Regulatory, certification, and litigation risks—encompassing safety certifications, investigations, and legal actions including bribery and export probes—can extend program timelines, elevate R&D and certification expenses, and damage brand reputation.[web:12][web:15]
Who are the main competitors of Airbus SE?
- Boeing Company (BA.NYSE)
- Textron Inc. (TXT.NYSE)
- General Dynamics (GD.NYSE)
When does Airbus SE report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 3.20 EUR | 1.81% | 1.79% |
| 2025 | 3.00 EUR | 2.20% | |
| 2024 | 2.80 EUR | 1.71% | |
| 2023 | 1.80 EUR | 1.41% | |
| 2022 | 1.50 EUR | 1.42% | |
| 2020 | 1.80 EUR | 3.17% | |
| 2019 | 1.65 EUR | 1.39% | |
| 2018 | 1.50 EUR | 1.64% | |
| 2017 | 1.35 EUR | 1.89% | |
| 2016 | 1.30 EUR | 2.38% | |
| 2015 | 1.20 EUR | 1.93% | |
| 2014 | 0.75 EUR | 1.41% | |
| 2013 | 0.60 EUR | 1.35% | |
| 2012 | 0.45 EUR | 1.72% | |
| 2012 | 0.39 EUR | 1.45% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 73.42B | 69.23B | 65.45B | 58.76B | 52.15B |
| Operating income (EBIT) | 5.24B | 4.80B | 4.27B | 4.74B | 4.83B |
| Net income | 5.22B | 4.23B | 3.79B | 4.25B | 4.21B |
| Free cash flow | 4.42B | 3.93B | 3.35B | 3.82B | 2.79B |
| Total assets | 134.94B | 129.21B | 118.87B | 115.94B | 107.05B |
| Equity | 26.10B | 19.61B | 17.70B | 12.95B | 9.47B |
| Net debt | 2.17B | -3.73B | -5.15B | -4.84B | -1.11B |
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