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 48,427 - -
Change - 58.57% 10.55% 1.97% 65.74% 2.61% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 48,700 48,780 44,954
Change - 51.25% 26.21% -1.27% 54.86% -0.23% 0.16% -7.84%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 27x 20.4x 17.8x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.55x 4.87x 4.25x
PEG - 6.81x -3.8x 0.5x 1.5x 3.71x 0.6x 1.2x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.03x 1.86x 1.71x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.04x 1.87x 1.59x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.7x 11.3x 9.48x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 16.2x 14.2x 11.7x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 19.9x 19x 15x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 5.02% 5.26% 6.67%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.297 4.922 5.565
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.82% 2.09% 2.36%
EPS 2 5.12 5.29 4.91 6.89 8.15 8.743 11.54 13.21
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 49.1% 42.6% 42.1%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,883 26,041 28,349
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,845 4,308 4,743
EBIT 1 1,649 1,935 2,132 2,419 2,740 3,011 3,432 3,829
Net income 1 1,089 1,121 1,023 1,420 1,675 1,778 2,292 2,655
Net Debt 1 795 35.2 4,000 3,044 1,618 272.4 352.4 -3,473
Reference price 2 74.80 119.30 133.95 138.65 229.80 235.70 235.70 235.70
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.($)
26.96x2.04x12.67x1.82% 5.41TCr
34.47x6.31x26.15x0.6% 31TCr
31.37x3.04x17.55x1.42% 27TCr
26.08x1.72x12.79x1.75% 17TCr
20.8x1.97x14.29x2.2% 15TCr
28.93x4.19x17.53x1.18% 14TCr
-125.25x1.64x43.48x-.--% 14TCr
27.66x3.01x13.65x1.49% 13TCr
21.92x1.85x15.16x1.7% 10TCr
35.51x8.07x24.96x0.27% 7.92TCr
Average 12.84x 3.39x 19.82x 1.24% 15.33TCr
Weighted average by Cap. 15.42x 3.58x 20.49x 1.2%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thales

Historical PBR trend

Valuation ratios - PBR - Thales

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thales

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thales


Year-on-year evolution of the Yield

Valuation ratios - Yield - Thales