AAF.L vs. BAB.L

Last updated Jun 4, 2026

AAF.L (Airtel Africa plc) and BAB.L (Babcock International Group plc) are both stocks. AAF.L operates in Telecom Services (Communication Services), while BAB.L operates in Engineering & Construction (Industrials). Over the past 5 years, AAF.L returned 37.21%/yr vs 28.29%/yr for BAB.L. At a 0.22 correlation, their price movements are largely independent.

Performance

AAF.L vs. BAB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Airtel Africa plc (AAF.L) and Babcock International Group plc (BAB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAF.L achieves a -5.41% return, which is significantly higher than BAB.L's -17.02% return.

AAF.L

• 1D: 0.42%
• 1M: -4.87%
• YTD: -5.41%
• 6M: 5.46%
• 1Y: 86.51%
• 3Y*: 43.84%
• 5Y*: 37.21%
• 10Y*: —

BAB.L

• 1D: -0.48%
• 1M: -6.23%
• YTD: -17.02%
• 6M: -8.68%
• 1Y: 1.62%
• 3Y*: 49.93%
• 5Y*: 28.29%
• 10Y*: 1.89%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAF.L vs. BAB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AAF.L Airtel Africa plc	-5.41%	218.32%	-9.69%	20.11%	-14.00%	81.14%	-1.32%	21.03%
BAB.L Babcock International Group plc	-17.02%	150.05%	27.98%	40.56%	-11.42%	13.83%	-55.53%	46.29%

Correlation

The correlation between AAF.L and BAB.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.22

Fundamentals

Market Cap AAF.L : £12.25B BAB.L : £5.29B
EPS AAF.L : £0.18 BAB.L : £0.94
PE Ratio AAF.L : 18.19 BAB.L : 11.02
PS Ratio AAF.L : 1.92 BAB.L : 0.55
PB Ratio AAF.L : 3.89 BAB.L : 7.30
Total Revenue (TTM) AAF.L : £6.37B BAB.L : £9.58B
Gross Profit (TTM) AAF.L : £3.93B BAB.L : £699.70M
EBITDA (TTM) AAF.L : £2.98B BAB.L : £961.50M

Return for Risk

AAF.L vs. BAB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAF.L

AAF.L Risk / Return Rank: 87
AAF.L Sharpe Ratio Rank: 88
AAF.L Sortino Ratio Rank: 86
AAF.L Omega Ratio Rank: 88
AAF.L Calmar Ratio Rank: 84
AAF.L Martin Ratio Rank: 91

BAB.L

BAB.L Risk / Return Rank: 39
BAB.L Sharpe Ratio Rank: 42
BAB.L Sortino Ratio Rank: 37
BAB.L Omega Ratio Rank: 37
BAB.L Calmar Ratio Rank: 41
BAB.L Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAF.L vs. BAB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Airtel Africa plc (AAF.L) and Babcock International Group plc (BAB.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAF.L	BAB.L	Difference
Sharpe ratio Return per unit of total volatility	2.06	0.05	+2.02
Sortino ratio Return per unit of downside risk	2.77	0.32	+2.45
Omega ratio Gain probability vs. loss probability	1.40	1.04	+0.36
Calmar ratio Return relative to maximum drawdown	3.37	0.04	+3.32
Martin ratio Return relative to average drawdown	12.92	0.12	+12.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAF.L vs. BAB.L - Sharpe Ratio Comparison

The current AAF.L Sharpe Ratio is 2.06, which is higher than the BAB.L Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of AAF.L and BAB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAF.L	BAB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	0.05	+2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.84	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.24	+0.41

Drawdowns

AAF.L vs. BAB.L - Drawdown Comparison

The maximum AAF.L drawdown since its inception was -65.78%, smaller than the maximum BAB.L drawdown of -81.10%. Use the drawdown chart below to compare losses from any high point for AAF.L and BAB.L.

Drawdown Indicators

	AAF.L	BAB.L	Difference
Max Drawdown Largest peak-to-trough decline	-65.78%	-81.10%	+15.32%
Max Drawdown (1Y) Largest decline over 1 year	-25.56%	-36.28%	+10.72%
Max Drawdown (3Y) Largest decline over 3 years	-31.08%	-36.28%	+5.20%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-36.28%	-8.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-79.18%	—
Current Drawdown Current decline from peak	-20.04%	-31.32%	+11.28%
Average Drawdown Average peak-to-trough decline	-18.26%	-35.12%	+16.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.64%	13.68%	-7.04%

Volatility

AAF.L vs. BAB.L - Volatility Comparison

Airtel Africa plc (AAF.L) has a higher volatility of 26.01% compared to Babcock International Group plc (BAB.L) at 12.11%. This indicates that AAF.L's price experiences larger fluctuations and is considered to be riskier than BAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAF.L	BAB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.01%	12.11%	+13.90%
Volatility (6M) Calculated over the trailing 6-month period	33.44%	25.97%	+7.47%
Volatility (1Y) Calculated over the trailing 1-year period	41.79%	35.57%	+6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.44%	33.61%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.24%	36.39%	+9.85%

Dividends

AAF.L vs. BAB.L - Dividend Comparison

AAF.L's dividend yield for the trailing twelve months is around 1.13%, more than BAB.L's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAF.L Airtel Africa plc	1.13%	1.07%	3.31%	2.76%	3.21%	1.80%	3.71%	2.26%	0.00%	0.00%	0.00%	0.00%
BAB.L Babcock International Group plc	0.68%	0.56%	1.06%	0.43%	0.00%	0.00%	0.00%	4.78%	6.08%	4.04%	2.75%	2.38%

Financials

AAF.L vs. BAB.L - Profitability Comparison

The chart below illustrates the profitability comparison between Airtel Africa plc and Babcock International Group plc over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AAF.L - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Airtel Africa plc reported a gross profit of 880.79M and revenue of 1.71B. Therefore, the gross margin over that period was 51.5%.

BAB.L - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Babcock International Group plc reported a gross profit of 234.30M and revenue of 2.54B. Therefore, the gross margin over that period was 9.2%.

AAF.L - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Airtel Africa plc reported an operating income of 578.39M and revenue of 1.71B, resulting in an operating margin of 33.8%.

BAB.L - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Babcock International Group plc reported an operating income of 234.30M and revenue of 2.54B, resulting in an operating margin of 9.2%.

AAF.L - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Airtel Africa plc reported a net income of 194.75M and revenue of 1.71B, resulting in a net margin of 11.4%.

BAB.L - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Babcock International Group plc reported a net income of 169.30M and revenue of 2.54B, resulting in a net margin of 6.7%.

Frequently Asked Questions

Can I hold both AAF.L and BAB.L in my portfolio?

AAF.L and BAB.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.