Airbus SE
5-year stock timeline
Airbus (AIR.XETRA) closed at 168.96 on 2026-05-20. Over the past six years, the stock has traced a path from pandemic lows into a sustained recovery anchored by narrowbody demand and production ramp expectations, before settling into a pattern where execution—deliveries, guidance, supply-chain realities—became the dominant lens through which investors sized the opportunity.
The arc from 2020 onward
2020 was brutal. COVID gutted commercial aviation and with it, Airbus's order book and delivery schedule. The year established a baseline so depressed that recovery, whenever it came, had room to run.
By 2021 the trajectory shifted. Deliveries and orders began to normalize, and by 2023 the story had real momentum: a record backlog, net new orders flowing in, and explicit targets to ramp A320 family production toward 65 units monthly by late 2024 and 75 by 2026. That clarity on capacity expansion became the thing investors traded on.
The middle years—2022 through 2024—layered in corporate communication: Capital Markets Day 2022, Business Update 2023, guidance revisions mid-2024. Each became an opportunity to recalibrate expectations around medium-term strategy and whether Airbus could actually deliver on its own promises. 2025 delivered: 793 commercial aircraft, a strong full-year result. But January 2026 stumbled, a reminder that near-term delivery flows remain lumpy.
How sentiment evolved
Early 2020 was pure uncertainty and deep-value hunting. By 2021–2023 the mood had turned: this was a growth story, backlog-driven, with narrowbody demand as the tailwind. Then execution risk surfaced. Supply chains creaked. Ramp targets looked aggressive. Investors began to ask harder questions about whether Airbus could actually hit those production numbers without breaking something else.
In 2024 and into 2026, opinion split. Strong 2025 deliveries reassured one camp. The slow January 2026 start kept the other camp skeptical. The stock has lived in that tension: backed by a fortress backlog, constrained by the quarterly and monthly delivery rhythm that determines whether guidance holds or slips.
The technical story
The early 2020 selloff was steep and set the low. From there, a prolonged uptrend took hold, marked by rallies tied to order announcements and production-rate beats, punctuated by sharp pullbacks whenever execution questions flared. Since 2023, the pattern has tightened into a consolidation band, with episodic moves around earnings, Business Updates, and guidance calls. Delivery misses or slow months weigh on sentiment in the near term. Strong full-year prints lift it again. The backlog remains the floor; the monthly delivery cadence remains the noise.
Key risks and downside factors
Airbus operates in a two-player market for large commercial aircraft alongside Boeing, while contending with suppliers of engines and systems, plus larger defence and space contractors pushing into adjacent territory. The real competitive pressure comes layered: Boeing in commercial aviation, Lockheed Martin in defence and space, and Safran across engines and aerospace systems—each capable of creating friction across multiple segments at once. What actually keeps people at Leeway watching Airbus closely are the execution risks—program delays, certification stumbles, supplier hiccups that cascade through the chain, the geopolitical tightening around exports, and the simple fact that airline demand swings like a pendulum, which means delivery schedules and cash flow can swing just as hard.
- Program execution and certification delays for new aircraft programs are disrupting deliveries and cash flow.
- Supply-chain concentration creates real friction—when your suppliers are few and their quality wavers or solvency falters, costs rise and assembly grinds slower.
- Geopolitical and export-control risk—sanctions, market access limits—bearing down on defence and international commercial sales [6].
- Cyclical swings in commercial aviation demand are tightening airline finances, which pulls back orders and squeezes both pricing and margins.
Competitive landscape
Airbus operates across commercial aircraft, defense, and space—a landscape where competition concentrates among a tight cluster of large OEMs and engine suppliers. The principal public competitors are Boeing (BA.NYSE), Lockheed Martin (LMT.NYSE), RTX (RTX.NYSE), Safran (SAF.PA), BAE Systems (BA.L), and General Electric (GE.NYSE). Revenue and margin pressure comes from multiple angles. Supply-chain and production delays remain persistent friction points. Airline demand cycles and cancellations create revenue volatility. Large defense contracts represent both opportunity and concentration risk. Regulatory shifts and geopolitical moves can compress program timelines or constrain export optionality—sometimes both at once.
| Company | Ticker |
|---|---|
| The Boeing Company | BA.NYSE |
| Lockheed Martin Corporation | LMT.NYSE |
| RTX Corporation | RTX.NYSE |
| Safran SA | SAF.PA |
| General Electric Company | GE.NYSE |
Private competitors
- SpaceX
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Start Free TrialPerformance Figures of Airbus SE
Relative Performance vs Benchmarks
| Period | Airbus SE | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -2.40% | -2.64% | -5.93% |
| 3M | -8.01% | -5.74% | -15.50% |
| 6M | -15.08% | -21.07% | -27.05% |
| 1Y | +6.33% | +4.50% | -18.85% |
| 3Y | +38.57% | -11.81% | -43.57% |
| 5Y | +88.82% | +30.27% | -0.51% |
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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 | 26.6 | 1.8 | 5.1 | 22.6 |
| 1Y ago | 28.8 | 1.8 | 5.8 | 13.9 |
| 3Y ago | 29.2 | 1.7 | 7.0 | 19.2 |
| 5Y ago | -257.3 | 1.5 | 10.6 | 20.3 |
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?
- Program execution and certification delays for new aircraft programs are disrupting deliveries and cash flow.
- Supply-chain concentration creates real friction—when your suppliers are few and their quality wavers or solvency falters, costs rise and assembly grinds slower.
- Geopolitical and export-control risk—sanctions, market access limits—bearing down on defence and international commercial sales [page:2][web:6].
- Cyclical swings in commercial aviation demand are tightening airline finances, which pulls back orders and squeezes both pricing and margins.
Who are the main competitors of Airbus SE?
- The Boeing Company (BA.NYSE)
- Lockheed Martin Corporation (LMT.NYSE)
- RTX Corporation (RTX.NYSE)
- Safran SA (SAF.PA)
- General Electric Company (GE.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 |
PWP Leeway UG (haftungsbeschränkt)
