Company Valuation: Thales

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 15,929 25,259 27,925 28,476 47,195 55,557 - -
Change - 58.57% 10.55% 1.97% 65.74% 17.72% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 55,740 55,703 52,334
Change - 51.25% 26.21% -1.27% 54.86% 14.19% -0.07% -6.05%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 31.9x 24x 21.1x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 6.36x 5.55x 4.84x
PEG - 6.81x -3.8x 0.5x 1.5x 7.9x 0.7x 1.5x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.33x 2.14x 1.98x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.34x 2.15x 1.86x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 14.5x 13x 11.2x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 18.5x 16.3x 13.8x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 23.5x 21.7x 18x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.25% 4.61% 5.54%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.265 4.939 5.576
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.58% 1.83% 2.06%
EPS 2 5.12 5.29 4.91 6.89 8.15 8.479 11.25 12.84
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 50.3% 43.9% 43.4%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,831 25,919 28,120
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,857 4,282 4,690
EBIT 1 1,649 1,935 2,132 2,419 2,740 3,006 3,417 3,789
Net income 1 1,089 1,121 1,023 1,420 1,675 1,713 2,220 2,514
Net Debt 1 795 35.2 4,000 3,044 1,618 183.7 145.9 -3,222
Reference price 2 74.80 119.30 133.95 138.65 229.80 270.40 270.40 270.40
Nbr of stocks (in thousands) 2,12,957 2,11,730 2,08,476 2,05,380 2,05,373 2,05,461 - -
Announcement Date 03/03/22 08/03/23 05/03/24 04/03/25 03/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
31.68x2.32x14.36x1.59% 6.43TCr
62.37x4.06x21.99x0.75% 1.28TCr
1271.15x10.93x177.77x - 1.17TCr
-46.7x19.33x870.11x-.--% 879.96Cr
82.92x3.44x31.84x0.31% 622.71Cr
25.82x4.85x21.06x1.77% 338.33Cr
59.97x28.76x-211.97x-.--% 118.27Cr
69.17x3.52x28.46x0.18% 63Cr
Average 194.55x 9.65x 119.20x 0.66% 1.36TCr
Weighted average by Cap. 165.36x 5.26x 100.65x 1.23%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield