Rolls-Royce Is No Longer A Turnaround Story

  • Rolls-Royce has transformed from a recovery story to a high-quality industrial, posting double-digit growth, surging margins, and strong free cash flow. All three divisions—Civil Aerospace, Defense, and Power Systems—are growing profitably, with no weak segments and clear long-term demand drivers. Balance sheet risk is gone: net cash position, investment grade rating, dividend reinstated, and a £1 billion buyback signal financial strength.