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 45,883 - -
Change - 58.57% 10.55% 1.97% 65.74% -2.78% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 46,292 44,682 42,935
Change - 51.25% 26.21% -1.27% 54.86% -5.17% -3.48% -3.91%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 25.5x 20.2x 17.6x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.17x 4.54x 3.97x
PEG - 6.81x -3.8x 0.5x 1.5x 3.39x 0.8x 1.2x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 1.94x 1.79x 1.64x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 1.95x 1.74x 1.54x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.2x 10.6x 9.15x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 15.5x 13.4x 11.5x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 20.8x 17.5x 14.9x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.82% 5.71% 6.7%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.234 4.869 5.491
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.9% 2.18% 2.46%
EPS 2 5.12 5.29 4.91 6.89 8.15 8.763 11.05 12.67
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 48.3% 44.1% 43.4%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,694 25,632 27,892
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,805 4,203 4,694
EBIT 1 1,649 1,935 2,132 2,419 2,740 2,996 3,345 3,738
Net income 1 1,089 1,121 1,023 1,420 1,675 1,760 2,216 2,529
Net Debt 1 795 35.2 4,000 3,044 1,618 408.4 -1,201 -2,948
Reference price 2 74.80 119.30 133.95 138.65 229.80 223.30 223.30 223.30
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,477 - -
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.($)
1731.15x14.81x240.91x - 15.7B
50.89x3.35x18.02x0.93% 9.81B
-49.15x20.4x917.92x-.--% 9.28B
84.22x3.35x29.61x0.26% 5.9B
27.01x4.8x22.24x1.7% 3.38B
48.89x24.04x-177.59x-.--% 991M
53.1x - - - 830M
74.41x3.8x30.73x0.17% 643M
Average 252.56x 10.65x 154.55x 0.51% 5.82B
Weighted average by Cap. 600.55x 11.31x 275.10x 0.55%

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