Airbus (AIR) Q4 2025 earnings summary

Executive summary

• Achieved record financial performance in FY 2025, with strong demand and robust order intake across all business segments, despite supply chain and engine delivery challenges.

• Delivered 793 commercial aircraft, meeting guidance, with a year-end backlog of 8,754 units and consolidated order book value of €619 billion.

• Strategic milestones included the acquisition and integration of Spirit AeroSystems work packages and progress in establishing a new global industrial space player.

• Resilience was demonstrated through record financials, robust order intake, and a year-end backlog high.

• Leadership changes announced for Commercial Aircraft and Helicopter divisions.

Financial highlights

• Revenues rose 6% year-over-year to €73.4 billion, driven by higher deliveries and services.

• EBIT Adjusted increased to €7.1 billion, with a margin of 9.7%; reported EBIT was €6.1 billion.

• Net income reached €5.2 billion; Adjusted EPS at €6.89, reported EPS at €6.61.

• Free cash flow before customer financing was €4.6 billion; net cash position at year-end was €12.2 billion.

• Proposed dividend of €3.20 per share, with a payout ratio of 48%.

Outlook and guidance

• 2026 guidance targets around 870 commercial aircraft deliveries, EBIT Adjusted of €7.5 billion, and free cash flow before customer financing of €4.5 billion.

• Guidance assumes no major disruptions to global trade, supply chain, or operations.

• Ramp-up focus remains, with quality standards prioritized; engine supply constraints expected to ease after 2027.