Rolls-Royce Holdings plc (LSE: RR.; ADR: RYCEY) is heading into the final stretch of 2025 with its share price still hovering near multi-year highs—after a year that has turned the company’s long-running turnaround story into a market darling’s victory lap.

As of 24 December 2025, RR.L last closed around 1,160p (about £11.60), with a 52-week range of roughly 557p to 1,195p and a market capitalisation near £97bn, according to widely followed market data. ^[1]

But the real reason investors keep circling this stock isn’t holiday-week price action. It’s the mix of (1) management’s upgraded cash generation targets, (2) shareholder returns via buybacks, and (3) multiple demand engines—civil aerospace flying hours, defence…