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Australian (ASX) Aerospace & Defense Industry Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies5
  • 7D11.1%
  • 3M41.6%
  • 1Y210.6%
  • YTD0.6%

The Aerospace & Defense industry is up 11% in the last week, with DroneShield up 5.9%. In the same time, Austal was down 5.5%. This takes the industry's 12 month performance to a gain of 211%. Earnings are forecast to grow by 62% annually.

Industry Valuation and Performance

Has the Australian Aerospace & Defense Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026AU$7.9bAU$2.5bAU$11.0m545.2x725.4x3.2x
Sat, 07 Feb 2026AU$6.3bAU$2.1bAU$21.8m251x287.9x3x
Mon, 05 Jan 2026AU$7.9bAU$2.1bAU$21.8m287.1x361x3.7x
Wed, 03 Dec 2025AU$5.4bAU$2.1bAU$21.8m168x247.8x2.6x
Fri, 31 Oct 2025AU$7.8bAU$2.1bAU$21.8m333.6x357.3x3.7x
Sun, 28 Sep 2025AU$8.0bAU$2.1bAU$21.8m307.8x366.4x3.8x
Tue, 26 Aug 2025AU$7.1bAU$1.8b-AU$37,468,849.0051.1x-189.7x3.9x
Thu, 24 Jul 2025AU$6.4bAU$1.9b-AU$3,583,849.0031.7x-1791.5x3.4x
Sat, 21 Jun 2025AU$4.8bAU$1.9b-AU$3,583,849.0022.5x-1348.9x2.6x
Mon, 19 May 2025AU$3.5bAU$1.9b-AU$3,583,849.0018.2x-985.9x1.9x
Wed, 16 Apr 2025AU$3.3bAU$2.0b-AU$4,418,849.0019.4x-748.2x1.7x
Fri, 14 Mar 2025AU$2.5bAU$2.0b-AU$4,418,849.0021.4x-566.8x1.3x
Sun, 09 Feb 2025AU$2.3bAU$2.0bAU$5.4m94.9x420.6x1.2x
Tue, 07 Jan 2025AU$2.1bAU$2.0bAU$5.4m85.9x378.6x1x
Thu, 05 Dec 2024AU$2.0bAU$2.0bAU$5.4m81.8x374.5x1x
Sat, 02 Nov 2024AU$2.3bAU$2.0bAU$5.4m111x421.2x1.2x
Mon, 30 Sep 2024AU$2.5bAU$2.0bAU$5.4m154.2x458.5x1.3x
Wed, 28 Aug 2024AU$2.2bAU$2.0b-AU$35,891,065.00136.7x-62x1.1x
Fri, 26 Jul 2024AU$2.5bAU$2.0b-AU$34,022,485.00121.7x-72.8x1.3x
Sun, 23 Jun 2024AU$2.4bAU$2.0b-AU$34,022,485.00134x-71.5x1.2x
Tue, 21 May 2024AU$1.8bAU$2.0b-AU$34,022,485.0070.1x-54.3x0.9x
Thu, 18 Apr 2024AU$1.8bAU$2.0b-AU$34,022,485.0074x-52.2x0.9x
Sat, 16 Mar 2024AU$1.6bAU$2.0b-AU$34,022,485.0044.2x-45.7x0.8x
Mon, 12 Feb 2024AU$1.5bAU$2.0b-AU$70,991,968.00412x-21.6x0.8x
Wed, 10 Jan 2024AU$1.4bAU$2.1b-AU$64,938,763.00124.2x-21.5x0.7x
Fri, 08 Dec 2023AU$1.3bAU$2.1b-AU$64,938,763.00103.7x-20.3x0.6x
Sun, 05 Nov 2023AU$1.3bAU$2.1b-AU$64,938,763.0090.6x-19.7x0.6x
Tue, 03 Oct 2023AU$1.3bAU$2.1b-AU$64,898,803.0084.5x-19.8x0.6x
Thu, 31 Aug 2023AU$1.3bAU$2.0b-AU$22,449,306.0020.1x-58x0.7x
Sat, 29 Jul 2023AU$1.5bAU$2.0b-AU$24,678,513.0014.8x-59.6x0.7x
Mon, 26 Jun 2023AU$1.4bAU$2.0b-AU$24,648,644.0014.8x-58.2x0.7x
Wed, 24 May 2023AU$1.3bAU$2.0b-AU$18,322,207.0014.8x-72.8x0.7x
Fri, 21 Apr 2023AU$1.2bAU$2.0b-AU$18,144,188.0014.8x-65.2x0.6x
Sun, 19 Mar 2023AU$1.2bAU$1.9bAU$43.1m8.2x27.7x0.6x
Price to Earnings Ratio

27.7x


Total Market Cap: AU$1.2bTotal Earnings: AU$43.1mTotal Revenue: AU$1.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Aerospace & Defense Industry Price to Earnings3Y Average -85x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Aerospace & Defense industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 725x which is higher than its 3-year average PE of -85.0x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have declined 37% per year over the last three years.
  • Meanwhile revenues for these companies have grown 9.3% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Australian Industrials industry?

AU Market-1.34%
Industrials-3.33%
Aerospace & Defense11.11%
Aerospace and Defense11.11%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DRO DroneShieldAU$3.925.9%
+AU$202.9m		304.1%PE1026.7x
EOS Electro Optic Systems HoldingsAU$9.924.6%
+AU$84.9m		693.6%PS14.9x
OEC OrbitalAU$0.129.1%
+AU$1.8m		14.3%PS2.6x
HCL HighComAU$0.20-2.5%
AU$132.9k		-7.1%PS0.8x

Latest News

DRO
AU$3.92
DroneShield
7D
5.9%
1Y
304.1%

DroneShield's Growth Will Drive Revenue Up by 25.39% Amidst New Success

Morningstar snapshot from 11/03/2026: Fair value: A$2.95 Five-star price: A$1.36 — this is my entry point Current price: A$4.02 Valuation: Overvalued Uncertainty: Very High Economic moat: Narrow 2025 revenue: A$216.5m Revenue growth in 2025: 276% Cash balance: A$209.4m Shares outstanding: ~913m Gross margin: ~60.9% Operating margin: ~-1.9% My interest in DroneShield is based on the long-term need for counter-drone technology, but only at the right price. The current conflict involving Iran is another reminder that drones are now a real threat to military assets, energy infrastructure and broader regional security.
HCL
AU$0.20
HighCom
7D
-2.5%
1Y
-7.1%
ASB
AU$4.85
Austal
7D
-5.5%
1Y
31.1%

ASB: Execution Risk On Shipbuilding Programs Will Drive Future Downside Focus

Analysts have lowered their Austal price target to A$4.50 from A$6.60 after resetting fair value assumptions, applying a slightly higher discount rate, and using more conservative expectations for revenue growth, profit margins, and future P/E. Analyst Commentary Bearish analysts are using the lower A$4.50 price target to flag what they see as a tighter margin for error on Austal.
OEC
AU$0.12
Orbital
7D
9.1%
1Y
14.3%
EOS
AU$9.92
Electro Optic Systems Holdings
7D
4.6%
1Y
693.6%

EOS: Higher Future P/E Assumptions Will Support Upside Repricing

Analysts have revised their price target on Electro Optic Systems Holdings from A$12.44 to A$12.95, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Valuation Changes Fair Value: A$12.44 to A$12.95, representing a small upward revision in the estimated equity value.