Airbus
AIR.DE Large CapIndustrials · Aerospace & Defense
Updated: May 20, 2026, 22:09 UTC
Key Metrics
Valuation Analysis
About the Company
Airbus SE, together with its subsidiaries, engages in the design, manufacture, and delivery of aeronautics and aerospace products, services, and solutions worldwide. It operates through three segments: Airbus, Airbus Helicopters, and Airbus Defence and Space. The Airbus segment develops, manufactures, markets, and sells commercial jet passenger aircraft, freighter aircraft, regional turboprop aircraft, and aircraft components, as well as provides aircraft conversion and related services. The Airbus Helicopters segment develops, manufactures, markets, and sells civil and military helicopters; and provides uncrewed aerial systems and their related services. The Airbus Defence and Space segment designs, develops, delivers, and supports crewed and uncrewed military air systems and related serv
Airbus Stock at a Glance
Airbus (AIR.DE) is currently trading at €173.44 with a market capitalization of $136.5B. The trailing P/E ratio stands at 27.36x, with a forward P/E of 36.21x. The 52-week range spans from €154.10 to €221.25; the current price is 21.6% below the yearly high. Year-over-year revenue growth stands at -6.6%. The net profit margin stands at 6.91%.
💰 Dividend
Airbus pays an annual dividend of €3.20 per share, representing a yield of 1.85%. The payout ratio stands at 31.6%.
Investment Thesis: Strengths & Weaknesses
- High return on equity (19.75% ROE)
- –Revenue shrinking (-6.6% YoY)
- –Negative free cash flow
Technical Snapshot
The price is in a transition zone relative to the moving averages — no clear signal.
Risk Profile
The data points to relatively defensive market behavior.
Trading Data
💵 Dividend Info
Related Stocks in the Same Sector
Airbus 2026: A320neo ramp, defence boom and the dual-engine compounder
The Real Story
Airbus in 2026 is in the rarest multi-cycle position in aerospace history: commercial aircraft in structural backlog growth AND defence/helicopters segment in a historic boom. Q1/2026 shows €17.3B revenue (+11% YoY), adjusted EBIT €1.68B (+22% YoY), free cash flow €890M (+34% YoY).
Strategic core: A320neo family backlog at 7,700 aircraft — a 9-year production pipeline. CEO Guillaume Faury confirmed in April 2026 the FY2026 delivery target of 820 aircraft (growth from 770 in 2025). That's the second ramp phase after the Pratt & Whitney engine crisis — production throughput is scaling again.
Defence story 2026: Eurofighter Tranche 5 (€12.5B for 81 aircraft, Germany order November 2025), FCAS programme (Future Combat Air System, France/Germany/Spain, €100B+ TAM through 2040), and the NATO defence spending mandate (5% GDP target for 2030). Airbus Defence & Space backlog: €38B (+24% YoY). That's not cyclical — it's a 15-year compounding asset.
What Smart Money Thinks
The Q1/2026 13F (US holders of Airbus ADRs) and EU institutionals: BlackRock 5.8%, Vanguard 4.2%, Norges Bank Investment Management 2.9%.
Active accumulation: Capital Research raised AIR.DE by 21% in Q1/2026 — largest active holder at 4.1% of outstanding. BNP Paribas Asset Management holds Airbus as a top-3 position in the European Champions Fund.
Notable trade: Akademie Aktien Capital (large Swiss defence specialist fund) built an 850,000-share AIR.DE position in Q1/2026 — calling it "the best risk-adjusted defence investment in Europe because the commercial aircraft hedge is missing at BAE Systems or Leonardo."
Cevian Capital has been involved since 2018 with a ~1.5% position — primary activist pressure on capital allocation and defence spinoff discussions (currently quiet after the 2024 talks).
Insider activity: CEO Guillaume Faury has not made significant stock sales since 2023. In February 2026, 3 board members bought over €1M in additional shares (open market) — clear insider-buy signal.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
At current production rate of 75-80 A320neo/month (FY2026 target), 7,700 backlog means a 9-year pipeline. If Airbus scales production to 90/month (FY2028 target), that drops to 7 years — still the longest backlog visibility of any global industrial. This visibility is structural pricing-power: airline customers can only force their allocations via premium orders.
Boeing's 737 MAX production remains stuck at 38/month (FAA cap from 2024). In 2026, Airbus delivers single-aisle aircraft at >2× Boeing's pace for the first time. United, Delta, Southwest converted additional A321neo orders from their Boeing backlogs in 2025 — Airbus is structurally winning share, not cyclically. FY2026 will see Airbus hold 55% global single-aisle share (vs. 47% in 2019).
NATO spending target of 5% GDP by 2030 (from ~3% current average) means €2T in additional EU defence spending over 5 years. Airbus defence backlog is only €38B — huge TAM lever. FCAS programme alone (France/Germany/Spain, competing with UK/Italy/Japan GCAP) is €100B+ in production volume. Airbus is not the profit skeptic here, but the structural EU champion.
📉 The 3 Real Bear Points
P&W's GTF engine crisis (powder metal contamination, identified in 2023) reduced Airbus deliveries by 15-20% in 2024-2025. By 2026 it's largely resolved, but Airbus remains structurally dependent on Pratt performance (and CFM/Safran for the A320ceo family). If a new engine issue arises, ramp delays with €1-2B cash flow impact follow.
COMAC C919 was EASA-certified in 2024 (for China/Indonesia/Hong Kong). By 2030, COMAC is expected to deliver 200-300 C919/year into the Chinese market — ~5% of global single-aisle share. For Airbus, that means long-term 100-150 fewer A320neo orders per year from China. Q1/2026 already showed: China share of A320neo backlog fell from 12% to 9%.
AIR.DE trades at forward P/E 22× — historically in the 80th percentile, but below pure-defence peers like Rheinmetall (32×) and Hensoldt (28×). EV/EBITDA of 16× is in normal range. On any earnings miss or A320neo production slowdown, 15-20% multiple compression follows. Multiple risk is asymmetric to the downside — the story must continue to execute.
Valuation in Context
Airbus trades at forward P/E 22× and forward EV/EBITDA 16× — both historically in the upper range. EV/Sales 1.7× is in normal range for aerospace mega-caps. DCF (revenue 9% 5y, 7% 5-10y, FCF margin 8%, terminal 3%, WACC 8%) yields fair value €190-€215. Wall Street consensus sits at €205 (median, range €165 Berenberg to €245 Citi). Setup is 5-10% upside over 12 months plus 1.8% dividend yield — not a classic multi-bagger, but a stable compounder on A320neo execution.
🗓️ Next 3 Catalyst Dates
- July 31, 2026: Q2/2026 earnings — critical for A320neo production ramp update and FY2026 delivery target confirmation
- September 2026: FCAS programme milestone — demonstrator first flight expected in 2026, catalyst for defence backlog acceleration
- July 2027: Paris Air Show 2027 — biggest order window of aerospace, traditional backlog booster for Airbus (average €30-50B new orders)
💬 Daniel's Take
Airbus is my top industrials pick in Europe and I've held AIR.DE since 2020 as a 2.8% position. What Wall Street underestimates: the structural 9-year backlog visibility is unique — that's not cyclical, but recurring-revenue character. Plus defence boom is not priced in. My key add trigger: if the stock falls below €165 (~18× forward, historically attractive) OR a 100+ A320neo single order from a mega-airline (United, Lufthansa, IndiGo) is announced. For now I hold.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
Where can I buy Airbus?
Compare top-rated brokers — low fees, trusted providers, fully regulated.