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Euro Spend '25: Defense, Aero & Security
12 tickers · $577.44B total market cap
Group: Euro Spend
The pivot to EU fiscal primacy is most advanced in defense, with record joint spending commitments, revised deficit rules, and rearmament programs feeding an extended capex cycle in defense, dual-use aerospace, and border security. This is no longer a trade — it is becoming a structural allocation.
Euro Spend '25: Defense, Aero & Security tracks 12 publicly listed stocks in this theme: AERO.SW, AIR.PA, AVIO.MI, BA, CHRT.LSE, ESE, ISMAY, LDO.MI, PSG.MC, QQ.LSE, RHM.XETRA, SAF.PA. See the constituent table for details.
Thesis update: 2025-04-08
Constituents
Build 20260519T212339
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
The Boeing CompanyBA | 04/22/2026 (BMO) | 04/22/2026 (BMO) | -2.75% | 6.84% | -9.28% | -8.17% | $173.91B | 8.3333 |
Airbus SEAIR.PA | 04/28/2026 (BMO) | 04/28/2026 (BMO) | -5.45% | 5.13% | -13.22% | -3.40% | $156.34B | 8.3333 |
Safran S.A.SAF.PA | 02/13/2026 (BMO) | — | 8.22% | — | -19.03% | — | $133.10B | 8.3333 |
Rheinmetall AGRHM.XETRA | 05/07/2026 (BMO) | 05/07/2026 (BMO) | -6.75% | -15.83% | -5.63% | -1.04% | $63.27B | 8.3333 |
Leonardo S.p.A.LDO.MI | 07/30/2025 (AMC) | — | -2.51% | — | 9.95% | — | $33.57B | 8.3333 |
ESCO Technologies Inc.ESE | 05/07/2026 (AMC) | 05/07/2026 (AMC) | 6.17% | -9.68% | 31.48% | -2.71% | $7.56B | 8.3333 |
Indra Sistemas, S.A.ISMAY | 04/30/2026 (BMO) | 04/30/2026 (BMO) | 19.67% | -3.29% | -18.57% | 3.85% | $5.30B | 8.3333 |
Montana Aerospace AGAERO.SW | 04/02/2026 (BMO) | 04/02/2026 (BMO) | -22.33% | -10.11% | 17.65% | -8.43% | $1.76B | 8.3333 |
Prosegur Compañía de Seguridad, S.A.PSG.MC | 05/05/2026 (BMO) | 05/05/2026 (BMO) | 4.24% | 3.11% | -9.08% | -0.15% | $1.70B | 8.3333 |
Avio S.p.A.AVIO.MI | 09/09/2025 | — | -2.66% | — | -12.14% | — | $894.5M | 8.3333 |
QinetiQ Group plcQQ.LSE | 11/13/2025 (BMO) | 05/21/2026 (AMC) | 1.08% | — | -3.91% | — | $29.1M | 8.3333 |
Cohort plcCHRT.LSE | 12/10/2025 (BMO) | — | -13.37% | — | 16.76% | — | $6.7M | 8.3333 |
| Average | -1.37% | -3.40% | -1.25% | -2.87% | $48.12B | 8.3333 | ||
| Median | -2.59% | -3.29% | -7.35% | -2.71% | $6.43B | 8.3333 | ||
| Std Dev | 10.26% | 8.10% | 15.57% | 4.06% | $64.45B | 0.0% | ||
| Min | -22.33% | -15.83% | -19.03% | -8.43% | $6.7M | 8.3333 | ||
| Max | 19.67% | 6.84% | 31.48% | 3.85% | $173.91B | 8.3333 | ||
| % Positive Tickers | 41.67% | 42.86% | 33.33% | 14.29% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.