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Babcock International Group PLC (BAB) Fair Value & Analysis

Industrials · GB · Market cap 5.1B GBX · ISIN GB0009697037

What is Babcock International Group PLC really worth?

BI Babcock International Group PLC BAB · LSE
Price£9.91
Fair Value£9.02
Upside−9.0%
Quality52/100

A solid business, currently priced close to our fair value of £9.02.

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Strengths

Healthy Growth (revenue 5y +5.5 %/yr)
Moderate debt · generates free cash flow

Risks

!Thin margins · 4.1% net margin
!Mixed vs. peers (6/15)
!Moderate moat 50/100
!Weak on valuation: 21 out of 100
!Weak on dividend: 14 out of 100

For context

·0.71% dividend yield
Evidence: High Range £6.23 – £11.27

Fair value as of: Aug 21, 2026

From 24 valuation models · updated 15 days ago

Share price −16.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (£6.23 to £11.27) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

£15.02 £2.51 Fair Value £9.02 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range £2.51 – £15.02 · fair‑value band £6.23 – £11.27 · the £9.91 price screens above the £9.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Babcock International Group PLC (BAB) currently trades at £9.91, while our model-based Fair Value estimate is £9.02, implying the stock looks roughly 9.8% fairly valued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of £9.55 per share, and 5 of the 24 models we run sit above the £9.91 price. Bear case: the Earnings-Based group reads lowest at £3.06, and 19 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Babcock International Group PLC generated revenue of £5.0B at a net margin of 5.8%. Revenue grew 5.4% year over year. It earns a return on equity of 44.9%. Net debt stands at £358M. Fundamentals as of Aug 21, 2026

Our scenario range runs from £6.23 (bear case) to £11.27 (bull case); at £9.91, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −9%, BAB screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly £0.2108 per share, which is 2.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF £6.39 £9.60 £14.36 80
Growth DCF £6.46 £9.25 £13.13 79
Owner Earnings £5.00 £7.45 £11.08 76
All 24 models by family
DCF Models
FCF DCF £6.39 £9.60 £14.36 80
Owner Earnings £5.00 £7.45 £11.08 76
5Y Revenue Exit £6.10 £9.44 £13.71 72
5Y EBITDA Exit £7.68 £12.43 £18.01 75
5Y P/E Exit £6.50 £10.21 £14.12 71
10Y Revenue Exit £5.98 £9.02 £13.14 66
10Y EBITDA Exit £7.14 £11.07 £16.38 68
10Y P/E Exit £6.40 £9.55 £13.45 64
Earnings-Based
Graham-Dodd £2.92 £9.56 £12.77 64
Lynch FV £2.14 £3.06 £3.98 61
PEG = 1.0 £2.14 £3.06 £3.98 57
EPV £4.83 £5.51 £6.09 74
Multiples
P/E Multiple £6.76 £9.02 £11.27 63
P/S Multiple £5.47 £7.30 £9.12 58
P/B Multiple £4.21 £5.62 £7.02 55
EV/EBIT £8.45 £11.08 £13.72 66
EV/EBITDA £9.36 £12.30 £15.24 67
EV/Revenue £6.18 £8.60 £11.02 54
Asset-Based
NCAV (Graham) £0.6200 £0.8400 £1.25 54
Growth DCF
Growth DCF £6.46 £9.25 £13.13 79
Rev-Margin DCF £6.10 £9.44 £13.34 72
Economic Profit
Residual Income £2.91 £4.15 £34.67 64
ROIC Compounder £5.00 £5.91 £6.83 72
Growth Earnings
Growth-Adj P/E £5.69 £8.13 £10.57 67

Widest divergence: DCF Models (£9.55) versus Asset-Based (£0.8400). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 18.7 as of Jun 2, 2026
P/S ratio 0.76 P/E × margin
EPS (TTM) £0.4100 price ÷ EPS = P/E 18.7
Dividend yield 0.7% payout 17.1%
Net margin 4.1% FY2026
Return on equity 33.7% TTM
More key figures
Profitability
Return on assets (EBIT) 6.8% avg 5y
Operating margin 1.4% TTM
Growth
Revenue (TTM) £5.2B TTM
Revenue growth (YoY) +8.9% 3y avg +5.3%
EPS growth (YoY) −63.9%
Balance sheet & cash flow
Free cash flow 263M GBX FY2026
Net debt 358M GBX FY2026 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 37

Profitability 57
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Babcock International Group PLC, together with its subsidiaries, engages in the design, development, manufacture, and integration of specialist systems for aerospace, defense, and security in the United Kingdom, rest of Europe, Africa, North America, Australasia, and internationally. It operates through four segments: Marine, Nuclear, Land, and Aviation.

Full company description

Babcock International Group PLC, together with its subsidiaries, engages in the design, development, manufacture, and integration of specialist systems for aerospace, defense, and security in the United Kingdom, rest of Europe, Africa, North America, Australasia, and internationally. It operates through four segments: Marine, Nuclear, Land, and Aviation. The company offers type 31 frigates, project lurcher, jackal contract, ground deployed advanced mortar system, general logistics vehicle, Babcock's LGE, and armored land cruiser 300. It also provides weapons handling systems, autonomous and uncrewed aerial systems, and engineering and systems integration. In addition, the company is involved in the design, integration, and through-life support of various connected combat, support, and surveillance vehicles; integration of long-range fires and C4ISTAR systems; provision of system engineering and general vehicle architecture services; and specialist vehicle conversions. Further, it provides equipment support, frontline support, and training services. The company was founded in 1891 and is based in London, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Babcock International Group PLC reported revenue of £5.2B in FY2026 versus £4.1B in FY2022, a compound +6.0%/yr. Reported net income was £211M in FY2026, compounding +6.5%/yr from FY2022.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
£5.2B
Latest YoY
+7.2%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Avg. revenue growth/yr (36Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+5.9% (5.2 + 0.7)
Revenue +6.0%/yr
FY22 £4.1B
FY23 £4.4B
FY24 £4.4B
FY25 £4.8B
FY26 £5.2B
Net income +6.5%/yr
FY22 £164M
FY23 −£35.0M
FY24 £166M
FY25 £247M
FY26 £211M
Character of growth · EPS growth decomposed (2015-2026) −3.7 % p.a.
Revenue per share +1.1 %

of which total revenue +1.4 % · buybacks/dilution −0.3 %

EBIT margin −2.8 %
Tax rate −1.5 %
Residual (interest, one-offs) −0.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Babcock International Group PLC Fair Value". https://www.fairvalue-calculator.com/stock/BAB

Peer Group

Engineering & Construction · 816 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Above median
Fair Value upside −9% · Above median
Return on equity (TTM) 34% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.77× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 18.7× · Pricier than median
P/B 11.19× · Pricier than 75% of peers
P/S (TTM) 1.33× · Pricier than 75% of peers
P/FCF 26.1× · Pricier than 75% of peers
EV/EBITDA 18.5× · Pricier than 75% of peers
PEG 1.37× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE21 · sector 16
FUTURE45 · sector 11
PAST100 · sector 26
HEALTH61 · sector 94
DIVIDEND14 · sector 39

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

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Quanta Services, Inc PWR $620.06 $143.92 −77%
Vinci SA DG €114.35 €185.62 +62%
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Larsen & Toubro Limited LT ₹4,072 ₹2,196 −46%
Ferrovial N.V FER €57.28 €19.17 −67%
HOCHTIEF Aktiengesellschaft HOT €426.40 €203.87 −52%
Samsung C&T Corporation 028260 373,000 KRW 261,411 KRW −30%
EMCOR Group EME $775.04 $549.47 −29%
MasTec, Inc MTZ $241.00 $100.00 −59%
Bouygues SA EN €46.65 €65.67 +41%

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Frequently asked questions

Is Babcock International Group PLC (BAB) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of £9.02 versus a price of £9.91, about −9% upside (fairly valued).
What is the fair value of BAB?
Our model-based fair value for Babcock International Group PLC is £9.02 (as of Aug 21, 2026), built from audited fundamentals. The current price: £9.91.
What is the quality score of BAB?
Babcock International Group PLC has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Babcock International Group PLC (BAB)?
Babcock International Group PLC reported trailing-twelve-month revenue of about £5.0B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of BAB?
The net profit margin of Babcock International Group PLC is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.
Does Babcock International Group PLC pay a dividend?
Babcock International Group PLC currently shows a dividend yield of about 0.71% relative to its recent price (as of Aug 21, 2026).
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