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Airbus Group SE
(AIR)
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Rating:73Outperform
Price Target:
€227.00
▲(10.27% Upside)
Action:Upgraded
Date:07/31/26
The score is driven primarily by strong underlying financial performance (growth, profitability, improving leverage, and positive cash generation). Technicals are supportive with the stock trading above major moving averages, while valuation (high P/E and modest yield) tempers upside. Earnings-call takeaways are broadly constructive due to reaffirmed 2026 guidance and strong operational momentum, but near-term cash flow pressure and supply-chain/integration risks remain meaningful.
Positive Factors
Delivery ramp and execution
Sustained increases in deliveries demonstrate Airbus's manufacturing scale-up and operational execution. A reliable ramp supports recurring revenue recognition, improves per-unit absorption of fixed costs, and underpins adjusted EBIT as backlog converts, providing durable earnings momentum over the next 2–6 months.
Negative Factors
Working-capital driven cash volatility
Negative H1 free cash flow driven by inventory and working-capital build highlights cash conversion risk during ramp-up. Persisting swings in working capital can constrain internal funding for CapEx/R&D, elevate reliance on liquidity or financing, and pressure near-term cash generation sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Delivery ramp and execution
Sustained increases in deliveries demonstrate Airbus's manufacturing scale-up and operational execution. A reliable ramp supports recurring revenue recognition, improves per-unit absorption of fixed costs, and underpins adjusted EBIT as backlog converts, providing durable earnings momentum over the next 2–6 months.
Read all positive factors
Airbus Group SE (AIR) vs. iShares MSCI France ETF (EWQ)
Market Cap
€156.39B
Dividend Yield1.59%
Average Volume (3M)850.17K
Price to Earnings (P/E)26.7
Beta (1Y)1.20
Revenue Growth9.96%
EPS Growth20.55%
CountryFR
Employees168,754
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)7.52
Shares Outstanding792,283,700
10 Day Avg. Volume805,583
30 Day Avg. Volume850,170
Financial Highlights & Ratios
PEG Ratio1.26
Price to Book (P/B)6.00
Price to Sales (P/S)2.13
P/FCF Ratio35.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€234.08Price Target Upside13.72% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)7.29
Revenue Forecast (FY)€80.83B
Airbus Group SE Business Overview & Revenue Model
Company Description
Airbus SE operates as a leading global aerospace entity, focused on the conceptualization, manufacturing, and worldwide provision of a diverse range of aerospace products, accompanying services, and integrated solutions. The company's extensive ac...
How the Company Makes Money
Airbus makes money primarily by selling aerospace platforms and by providing services over the lifecycle of those products. The largest revenue stream is typically Commercial Aircraft, where Airbus earns revenue from the sale and delivery of passe...
Airbus Group SE Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and commercial positives: record quarterly deliveries, double‑digit revenue growth, a sizable and diversified backlog, strong order intake across commercial, helicopter and defence businesses, and improved adjusted EBIT. These positives are tempered by near‑term cash pressures (negative H1 free cash flow driven by working capital and inventory build), front‑loaded integration costs from Spirit AeroSystems, ongoing engine supply negotiations with Pratt & Whitney, and FX/hedging headwinds. Management maintained unchanged 2026 guidance (around 870 deliveries, ~EUR 7.5 billion EBIT adjusted, ~EUR 4.5 billion free cash flow before customer financing), indicating confidence in execution despite the highlighted challenges.Positive Updates
Record and Increased Deliveries
Q2 record of 237 Commercial Aircraft deliveries; H1 deliveries 351 vs 306 in H1 2025 (+14.7%), enabling recovery from Q1 and confirming ramp-up trajectory.
Negative Updates
Negative Free Cash Flow and Working Capital Build
H1 2026 free cash flow before customer financing was negative EUR 1.2 billion; free cash flow negative EUR 1.0 billion including customer financing (+EUR 0.1 billion). Outflow driven by working capital build and inventory buildup to support ramp‑up; CapEx in H1 EUR 1.5 billion and expected to increase in 2026.
Read all updates
Q2-2026 Updates
Positive
Negative
Record and Increased Deliveries
Q2 record of 237 Commercial Aircraft deliveries; H1 deliveries 351 vs 306 in H1 2025 (+14.7%), enabling recovery from Q1 and confirming ramp-up trajectory.
Read all positive updates
Company Guidance
Airbus reconfirmed unchanged 2026 guidance: around 870 commercial aircraft deliveries (implying roughly a ±20 range, i.e., ~850–890), adjusted EBIT of ~€7.5bn and free cash flow before customer financing of ~€4.5bn, on the basis of no additional major disruptions and before M&A (including current tariffs). Management reiterated ramp‑up targets across programs — A220 at ~13/month by 2028, A320 at 70–75/month by end‑2027 (stabilizing at 75), A330 to reach rate 5 in 2029 and A350 rate 12 in 2028 — and highlighted H1 metrics that underpin the guidance: H1 deliveries 351 (Q2 record 237), H1 revenues €33.2bn, H1 adjusted EBIT €2.7bn, H1 free cash flow before customer financing ≈‑€0.1bn, net cash €8.4bn and liquidity above €30bn.Airbus Group SE Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.99B | 73.42B | 69.23B | 65.45B | 58.76B | 52.15B |
| Gross Profit | 12.06B | 10.97B | 10.68B | 10.04B | 10.17B | 9.63B |
| EBITDA | 11.13B | 10.25B | 9.18B | 7.76B | 8.20B | 7.69B |
| Net Income | 5.94B | 5.22B | 4.23B | 3.79B | 4.25B | 4.21B |
Balance Sheet | ||||||
| Total Assets | 139.00B | 134.94B | 129.21B | 118.87B | 115.94B | 107.05B |
| Cash, Cash Equivalents and Short-Term Investments | 12.29B | 17.22B | 19.18B | 18.83B | 18.55B | 16.20B |
| Total Debt | 14.28B | 16.30B | 11.28B | 11.32B | 10.98B | 13.46B |
| Total Liabilities | 113.04B | 108.75B | 109.52B | 101.14B | 102.96B | 97.56B |
| Stockholders Equity | 25.87B | 26.10B | 19.61B | 17.70B | 12.95B | 9.47B |
Cash Flow | ||||||
| Free Cash Flow | 4.98B | 4.42B | 3.93B | 3.35B | 3.92B | 2.79B |
| Operating Cash Flow | 9.07B | 8.38B | 7.60B | 6.41B | 6.39B | 4.72B |
| Investing Cash Flow | -4.97B | -4.99B | -6.72B | -4.13B | -3.07B | -2.66B |
| Financing Cash Flow | -3.00B | -3.55B | -2.70B | -1.42B | -2.26B | -2.32B |
Airbus Group SE Technical Analysis
Neutral
205.85
Price Trends
204.07
Negative
190.69
Positive
188.13
Positive
Market Momentum
-2.16
Positive
41.38
Neutral
30.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:AIR, the sentiment is Neutral. The current price of 205.85 is above the 20-day moving average (MA) of 204.98, above the 50-day MA of 204.07, and above the 200-day MA of 188.13, indicating a neutral trend. The MACD of -2.16 indicates Positive momentum. The RSI at 41.38 is Neutral, neither overbought nor oversold. The STOCH value of 30.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:AIR.
Airbus Group SE Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €138.87B | 35.83 | 26.45% | 1.00% | 14.27% | -9.86% | |
73 Outperform | €156.39B | 26.69 | 22.56% | 1.59% | 9.96% | 20.55% | |
71 Outperform | €21.17B | 21.80 | 15.18% | 1.70% | 33.17% | 29.17% | |
70 Outperform | €47.58B | 31.96 | 18.73% | 1.68% | 6.89% | 118.90% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
48 Neutral | €493.66M | 112.20 | 1.20% | ― | 12.61% | -86.29% | |
41 Neutral | €188.29M | -6.04 | -33.18% | ― | 7.21% | 47.92% |
* Industrials Sector Average
FR:AIR
Airbus Group SE
200.70
16.56
8.99%
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FR:FGA
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21.69%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.