Sector reports›Aerospace & Defence
Aircraft manufacturers
commercial, regional, business and military aircraft, helicopters
Edition 6 · figures read up to 6 Oct 2026 · 6 listed companies, 0 transactions
Listed companies (6)
| Value (m) | Share price | 2026E | 2027E | Operating | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | Ccy | Enterprise value | Equity value | Price | % of 52-wk high | Change, 12 months | Div. yield | EV / Sales | EV / EBITDA | EV / Sales | EV / EBITDA | P / E | Net debt / LTM EBITDA | Sales growth 26–27E | EBITDA margin 2027E |
| Airbus SE | EUR | 148,130 | 146,900 | 185.60 | 84% | (6%) | 1.7% | 1.8x | 14.1x† | 1.6x | 12.2x† | 21.3x | 0.1x | 11.8% | 13.5%† |
| Bombardier Inc. | CAD | 36,060 | 31,230 | 312.55 | 83% | 60% | – | 2.6xe | 19.5xe | 2.6xe | 19.5xe | – | 2.3x | – | 13.4%e |
| Dassault Aviation SA | EUR | 11,880 | 21,790 | 282.80 | 78% | (1%) | 1.7% | 1.3x | 11.4x | 1.2x | 9.8x | 15.0x | (10.5x) | 10.5% | 12.4% |
| Embraer S.A. | USD | 14,070 | 13,230 | 74.09 | 92% | 23% | 0.9% | 1.6x | 16.8x† | 1.5x | 14.4x† | – | 0.5x | 11.5% | 10.2%† |
| Textron Inc. | USD | 16,050 | 13,270 | 77.17 | 76% | (9%) | 0.1% | 1.0x | 8.8x | 1.0x | 8.1x | 10.6x | 1.6x | 4.0% | 12.2% |
| The Boeing Company | USD | 181,040 | 151,970 | 192.28 | 76% | (11%) | – | 1.8x | n.m. | 1.6x | 22.0x | 46.6x | n.m. | 15.1% | 7.3% |
| Median | 81% | (3%) | 1.3% | 1.7x | 14.1x | 1.6x | 13.3x | 18.2x | 0.5x | 11.5% | 12.3% | ||||
Money in millions of each company’s own currency. e Argonaut’s own estimate · g the company’s guidance · ~ one fiscal year standing for the calendar year · † after capitalised development cost · n.m. not meaningful. No mark: the analysts’ consensus, or a year the company has reported. Appendix A says how each figure was obtained.
Transactions (0 with a multiple)
No transaction yet.
Appendix A - the listed companies’ figures, and how each estimate was obtained
Where the EBITDA comes from, in this order of preference: the analysts’ consensus; else the company’s guidance (g); else Argonaut’s own estimate (e). 2026E: consensus 5, guidance 0, Argonaut’s estimate 1. 2027E: consensus 5, guidance 0, Argonaut’s estimate 1.
| Company | Year end | Price of | Enterprise value is | Sales (m) | How the sales were obtained | EBITDA (m) | How the EBITDA was obtained | To know, and source |
|---|---|---|---|---|---|---|---|---|
| Airbus SEEuronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E80,9502027E90,490 | consensus | 2026E10,5222027E12,187 | consensus† Less the 356 of development cost capitalised in FY2025 (Financial Statements 2025, note 19). | Source: StockAnalysis.com - Airbus SE overview, statistics and forecast pages, read 2 October 2026; Airbus - Airbus reports Full-Year (FY) 2025 results press release (Feb 2026), airbus.com; AeroMorning - Airbus Reports Full-Year (FY) 2025 Results; MarketScreener - Airbus SE finances page, read 6 October 2026 |
| Bombardier Inc.Toronto Stock Exchange · CA · CAD | – | 1 Oct 2026 | as read | 2026E13,8502027E13,850 | Argonaut estimate - the sales of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | 2026E1,8502027E1,850 | Argonaut estimate - the EBITDA of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | trailing figures in Canadian dollars; the consensus is printed in US dollars and is not keptSource: StockAnalysis.com - Bombardier Inc. overview, statistics and forecast pages, read 2 October 2026 |
| Dassault Aviation SAEuronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E8,8302027E9,760 | consensus | 2026E1,0432027E1,207 | consensus | Source: StockAnalysis.com - Dassault Aviation SA overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Dassault Aviation SA finances page, read 6 October 2026 |
| Embraer S.A.NYSE (ADS) · US · USD | Dec | 1 Oct 2026 | as read | 2026E8,5772027E9,566 | consensus | 2026E8392027E977 | consensus† Less the 289 of development cost capitalised in FY2025 (Form 20-F 2025, note 14: the six internally developed columns added up, eVTOL (160.0) among them; 7.8 of acquired software is not counted). | NYSE ADS: the share price is per ADS and no share count is kept; the consensus is that of the NYSE line, in US dollars - the São Paulo line's page prints a lower one (EBITDA 1,033 for 2026)Source: StockAnalysis.com - Embraer S.A. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Embraer S.A. finances page, read 6 October 2026 |
| Textron Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E15,5802027E16,210 | consensus | 2026E1,8222027E1,970 | consensus | Source: StockAnalysis.com - Textron Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Textron Inc. finances page, read 6 October 2026 |
| The Boeing CompanyNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E98,0002027E112,800 | consensus | 2026E4,3282027E8,226 | consensus | Source: StockAnalysis.com - The Boeing Company overview, statistics and forecast pages, read 2 October 2026; MarketScreener - The Boeing Company finances page, read 6 October 2026 |
How to read it
- Money is in millions of each company’s or transaction’s own currency, named in its line; nothing is converted. The multiples are computed here from the figures the site keeps, not copied from a data site; the one that is quoted from a buyer is marked.
- Listed companies. The enterprise value is the one read on the day of the price, or the market value plus net debt, or, for a company under offer, the one before the offer: Appendix A says which. The price against its 52-week high, its change over twelve months and the dividend yield are as a data site prints them. Net debt / LTM EBITDA is on the EBITDA of the last twelve months as a data site prints them, else of the last reported year; net cash is in brackets, and beyond 15x either way, or on an EBITDA of zero or less, it is n.m.
- 2026E and 2027E. The calendar year of the edition’s last update and the next: an edition updated in 2027 shows 2027E and 2028E. Each figure is the best estimate the report can make: the analysts’ consensus, or what the company has reported for a year already ended; else the company’s guidance, marked g; else Argonaut’s own estimate, marked e - sales carried forward at the growth the company’s own figures show, by 25% a year at most, and EBITDA as those sales at the margin of the nearest year the library holds, a forecast year’s, else the last reported year’s, else the last twelve months’. Where a fiscal year does not end in December, the two fiscal years are weighted by the months each has in the calendar year; where only one of them is held and it covers at least half the year, it stands in, marked ~. Appendix A gives every figure with how it was obtained.
- EBITDA. In this order: the analysts’ consensus; else the company’s guidance, marked g; else Argonaut’s own estimate, marked e. Appendix A says which of the three each figure is, and where it was read. Where the library holds the development cost a company capitalised in its last reported year, read in its annual report, it is taken off both years’ EBITDA, as a bank’s comps do for companies reporting under IFRS, and the multiple and the margin are marked †; where it holds none, nothing is taken off. P / E is the share price over the consensus earnings per share of the year, weighted by months as the other figures are and marked ~ where one fiscal year stands in. Sales growth is the second year’s sales over the first’s; where a fiscal year stands for the first, it is that fiscal year’s growth to the next, marked ~, and none is shown where the second year is only the first held. The EBITDA margin is the second year’s.
- An EBITDA multiple above 35x, or on a figure of zero or less, is shown as n.m. (not meaningful), as is a P / E above 100x or on earnings of zero or less; both are left out of the medians, which also leave out a company without the figure. A median is the middle value of a segment’s companies.
- Charts. Each bar is a listed company, named without its legal form, the highest first, and the line the segment’s median; a company whose multiple is not meaningful keeps its line and says n.m., and one without the figure is not drawn. A multiple with fewer than three figures has no chart.
- Sources. All are public. The valuation in a profile does not rest on this report: it stays on the next twelve months. The listed companies’ figures were read from, with the number of companies in brackets where more than one: StockAnalysis.com (6); MarketScreener (5); AeroMorning; the companies’ own reports, releases and filings. Appendix A names each company’s sources.