Bombardier Completes 5-Year Turnaround, Revenue Hits $9.55B

Bombardier has officially declared its 2021 strategic turnaround plan a success. In a comprehensive financial disclosure released last month, the company revealed that it exceeded 2025 targets, setting a high-altitude trajectory for 2026.

CEO Éric Martel characterized the year as a validation of "poise, discipline, and consistent execution," marking the company’s transformation from a struggling conglomerate into a streamlined, high-growth business jet powerhouse.

2025 vs. 2024 Performance

The company’s "customer-centric" pivot resulted in double-digit growth across nearly every primary metric.

Key Pillars of the Turnaround

The 2025 results highlight three specific areas where Bombardier’s strategy shifted the needle:

Service Dominance: Services and Defense have become another avenue for the company to achieve stability, reaching record-high revenues and providing a buffer against the traditional volatility of aircraft sales.

Debt Repayment: Bombardier aggressively used its cash to clean up its balance sheet, repaying over $400 million in debt last year. Another $500 million in Senior Notes is scheduled for redemption on February 15, 2026.

Market Demand: A unit book-to-bill ratio of 1.4 indicates that for every aircraft delivered, the company is taking 1.4 new orders, fueling a massive $17.5 billion backlog.

“We have transformed the business, reinforced our competitive position, and established a clear and disciplined track record for growth — and the future looks bright.”

 

— Éric Martel, President and CEO

Looking into 2026

With the turnaround plan complete, Bombardier is shifting from "recovery mode" to "expansion mode." The company’s 2026 guidance suggests they have no intention of decelerating.

2026 Projections:

• Revenue: Expected to breach the $10 billion mark for the first time.
• Deliveries: Forecasted to exceed the 157 units achieved in 2025.
• Profitability: Adjusted EBITDA is projected to climb above $1.625 billion.
• Cash Flow: Free cash flow is targeted between $600 million and $1 billion, despite planned increases in R&D and strategic investments.

The company aims to continue its deleveraging journey, targeting an adjusted net debt to adjusted EBITDA ratio of 1.5x over time, down from the 1.9x achieved at the end of 2025.