BA.L vs. MRO.L
BA.L (BAE Systems plc) and MRO.L (Melrose Industries plc) are both stocks. Both are in the Industrials sector — BA.L in Aerospace & Defense, MRO.L in Specialty Industrial Machinery. Over the past 10 years, BA.L returned 18.87%/yr vs 11.24%/yr for MRO.L. At a 0.32 correlation, their price movements are largely independent.
Performance
BA.L vs. MRO.L - Performance Comparison
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Returns By Period
In the year-to-date period, BA.L achieves a 12.71% return, which is significantly higher than MRO.L's -20.66% return. Over the past 10 years, BA.L has outperformed MRO.L with an annualized return of 18.87%, while MRO.L has yielded a comparatively lower 11.24% annualized return.
BA.L
- 1D
- -1.62%
- 1M
- -0.91%
- YTD
- 12.71%
- 6M
- 13.60%
- 1Y
- 3.23%
- 3Y*
- 28.80%
- 5Y*
- 32.37%
- 10Y*
- 18.87%
MRO.L
- 1D
- 3.19%
- 1M
- -5.07%
- YTD
- -20.66%
- 6M
- -16.67%
- 1Y
- -0.69%
- 3Y*
- -3.13%
- 5Y*
- 3.96%
- 10Y*
- 11.24%
BA.L vs. MRO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BA.L BAE Systems plc | 12.71% | 52.12% | 5.88% | 33.31% | 60.92% | 17.57% | -9.28% | 28.43% | -16.75% | 0.30% |
MRO.L Melrose Industries plc | -20.66% | 7.50% | -1.49% | 102.51% | -15.46% | -19.88% | -25.38% | 48.20% | -22.05% | 8.06% |
Correlation
The correlation between BA.L and MRO.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2006 | 0.32 |
Fundamentals
BA.L:
£57.97B
MRO.L:
£5.82B
BA.L:
£1.33
MRO.L:
£0.25
BA.L:
14.41
MRO.L:
18.30
BA.L:
2.30
MRO.L:
0.28
BA.L:
1.06
MRO.L:
0.83
BA.L:
4.92
MRO.L:
2.06
BA.L:
£54.65B
MRO.L:
£7.06B
BA.L:
£4.75B
MRO.L:
£1.78B
BA.L:
£7.55B
MRO.L:
£1.58B
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Return for Risk
BA.L vs. MRO.L — Risk / Return Rank
BA.L
MRO.L
BA.L vs. MRO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BAE Systems plc (BA.L) and Melrose Industries plc (MRO.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BA.L | MRO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.03 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.02 | +0.17 |
| Martin ratioReturn relative to average drawdown | 0.33 | -0.05 | +0.37 |
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Drawdowns
BA.L vs. MRO.L - Drawdown Comparison
The maximum BA.L drawdown since its inception was -43.67%, smaller than the maximum MRO.L drawdown of -70.66%. Use the drawdown chart below to compare losses from any high point for BA.L and MRO.L.
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Drawdown Indicators
| BA.L | MRO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.67% | -70.66% | +26.99% |
Max Drawdown (1Y)Largest decline over 1 year | -21.30% | -33.65% | +12.35% |
Max Drawdown (3Y)Largest decline over 3 years | -21.30% | -42.82% | +21.52% |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | -50.87% | +29.57% |
Max Drawdown (10Y)Largest decline over 10 years | -37.80% | -70.66% | +32.86% |
Current DrawdownCurrent decline from peak | -17.12% | -31.53% | +14.41% |
Average DrawdownAverage peak-to-trough decline | -12.74% | -19.54% | +6.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.84% | 14.53% | -4.69% |
Volatility
BA.L vs. MRO.L - Volatility Comparison
The current volatility for BAE Systems plc (BA.L) is 8.48%, while Melrose Industries plc (MRO.L) has a volatility of 10.23%. This indicates that BA.L experiences smaller price fluctuations and is considered to be less risky than MRO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BA.L | MRO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 10.23% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 23.43% | 28.31% | -4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.85% | 34.05% | -4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.82% | 39.76% | -13.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.07% | 45.25% | -20.18% |
Dividends
BA.L vs. MRO.L - Dividend Comparison
BA.L's dividend yield for the trailing twelve months is around 1.90%, more than MRO.L's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BA.L BAE Systems plc | 1.90% | 1.99% | 2.69% | 2.53% | 2.99% | 4.40% | 4.75% | 4.00% | 4.79% | 3.75% | 3.57% | 4.14% |
MRO.L Melrose Industries plc | 1.56% | 1.09% | 0.99% | 0.53% | 0.45% | 0.34% | 0.27% | 0.93% | 1.25% | 0.73% | 0.95% | 6.95% |
Financials
BA.L vs. MRO.L - Financials Comparison
This section allows you to compare key financial metrics between BAE Systems plc and Melrose Industries plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BA.L vs. MRO.L - Profitability Comparison
BA.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BAE Systems plc reported a gross profit of 1.35B and revenue of 14.77B. Therefore, the gross margin over that period was 9.2%.
MRO.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Melrose Industries plc reported a gross profit of 500.00M and revenue of 1.87B. Therefore, the gross margin over that period was 26.8%.
BA.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BAE Systems plc reported an operating income of 1.35B and revenue of 14.77B, resulting in an operating margin of 9.2%.
MRO.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Melrose Industries plc reported an operating income of 443.00M and revenue of 1.87B, resulting in an operating margin of 23.7%.
BA.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BAE Systems plc reported a net income of 1.09B and revenue of 14.77B, resulting in a net margin of 7.4%.
MRO.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Melrose Industries plc reported a net income of 85.00M and revenue of 1.87B, resulting in a net margin of 4.6%.
Frequently Asked Questions
BA.L and MRO.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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