My choice would be clearly $BA. as most of their earnings depend solely on defense. In my opinion and after some research most of the other European defense companies are quite mixed up in their earnings structure and not as overweighted in defense earnings as the US defense companies.
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4Lun
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@trader_385 EU could do so in the future ofc. But no one knows if and when. Imo shouldn’t be that problematic for BAE at all as only around 11% of net revenue are made in the EU. I’m quite sure that you can’t solely rely on EU companies for military contracts as it would mean to leave out a lot of high-end military stuff that you couldn’t get from them😅.
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3Lun
@PassiveInvest what about Leonardo
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@Wettyx91 would say it could be not a bad choice too as Leonardo seeks to evolve more into a tech kind of defense company. They seem to be much stronger in that field than in producing military systems itself even if they are a partner for most other European producing defense companies. Could lead to a better margin profile in the future for example.
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