Full history for every metric is available with a Kvantra account
Key financial summary
Financials in EUR| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | €bn | 17 | 16 | 18 | 18 | 21 | 22 | 23 | 24 |
| Operating profit | €bn | 2 | 2 | ||||||
| Net profit | €bn | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 2 |
| EPS reported | € | 8.13 | 7.26 | ||||||
| Operating cashflow per share | € | 16.17 | 22.80 | ||||||
| Capex per share | € | 3.34 | 3.48 | ||||||
| FCF per share | € | 12.82 | 19.32 | ||||||
| Free cash flow | €bn | 3 | 4 | ||||||
| Net debt | €bn | 1 | 1 | ||||||
| Book value equity | €bn | 8 | 8 | ||||||
| Book value per share | € | 38.70 | 38.87 | ||||||
| Number of shares | m | 205.88 | 206.01 | ||||||
| DPS (TTM paid) | € | 3.90 | 3.90 |
Financial summary
Financials in EUR| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 28.27 | - | ||||||
| P/B LTM | x | 5.93 | 5.71 | ||||||
| P/S LTM | x | 2.13 | 2.01 | ||||||
| P/FCF LTM | x | 17.92 | 11.53 | ||||||
| EV/EBITDA LTM | x | 14.79 | 13.17 | ||||||
| EV/Sales LTM | x | 2.21 | 2.03 | ||||||
| Earnings Yield LTM | % | 3.54% | 3.27% | ||||||
| FCF Yield | % | 5.58% | 8.68% | ||||||
| Quality | |||||||||
| ROE | % | 21.01% | 18.73% | ||||||
| ROIC | % | 11.13% | 12.71% | ||||||
| Operating margin | % | 10.02% | 10.60% | ||||||
| Gross margin | % | 26.44% | 26.86% | ||||||
| FCF/Sales | % | 11.90% | 17.40% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +18.00% | +119.34% | ||||||
| Sales Growth YoY | % | +7.58% | +6.89% | ||||||
| Net Income Growth YoY | % | +17.96% | +119.00% | ||||||
| FCF Growth | % | +30.77% | +56.56% | ||||||
| Operating Profit Growth | % | +30.61% | +21.65% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 1.65% | 1.72% | ||||||
| Dividend Growth | % | +11.76% | +11.76% | ||||||
| Payout Ratio | % | 46.64% | 46.62% | ||||||
| FCF/Debt | x | 0.43 | 0.71 | ||||||
| Net Debt/EBITDA | x | 0.51 | 0.16 | ||||||
| EBIT/Net interest | x | 9.53 | 10.79 | ||||||
| Net debt/market cap | % | 1.12% | 1.14% | ||||||
| Net debt/Equity | x | 0.07 | 0.06 | ||||||
| Gross debt/equity | x | 0.77 | 0.70 | ||||||
ETFs that hold Thales
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| VanEck Defense UCITS ETF | DFEN.DE | 4 | 7.03% |
| WisdomTree Europe Defence UCITS ETF - EUR Acc | WDEF.L | 2 | 12.28% |
| Select STOXX Europe Aerospace & Defense ETF | EUAD | 8 | 3.56% |
| Global X European Infrastructure Development UCITS ETF Accum Shs EUR | BRIJ.L | 1 | 8.51% |
| Amundi Stoxx Europe Defense Capitalisation -UCITS ETF Acc- | DEFS.L | 5 | 9.47% |
| HANetf ICAV - Future of European Defence Screened UCITS ETF AccumEUR | ARMY.L | 4 | 9.92% |
| WisdomTree Europe Defense Fund | WDEF | 2 | 9.87% |
Funds with Thales among their ten largest holdings, largest fund first.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
Company overview
Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide. The company offers advance air defence systems, combat systems, defence onboard electronics c4isr solutions, command and control solutions, mission and surveillance systems, airborne optronics, and airspace protection solutions; collaborative combat, intelligence, connectivity and cloud, country and force protection, military vehicle, collaborative artillery, and augmented soldier solutions; robotics and drones; above-water combat, unmanned maritime, and underwater warfare systems; naval support and services; and joint systems. It also provides mission-critical and radio communications; cyber defence and electronic warfare solutions; protection systems; unmanned aerial vehicle systems; digital transformation services; and Geonav IoT for real-time indoor/outdoor precise navigations. In addition, it offers digital identity and security solutions comprising banking and payment, data protection, digital identity, identity and access management, biometric, mobile, software monetization, secure IoT solutions, and IoT connecting and security solutions. Further, it provides air traffic management solutions; flight decks and avionics equipment and functions; in-flight entertainment, connectivity, and services; drone and navigation solutions; support and services for civil aviation; connectivity solutions; antennas; and solutions for internal and external aircraft lighting. It offers lasers; microwave and imaging sub-systems; microelectronic solutions; mobile satellite, environmental testing and evaluation laboratory, and training and simulation services; cryogenic technology and coolers; silicon security solutions; and designs, operates, and delivers satellite-based technologies. The company was formerly known as Thomson-CSF and changed its name to Thales S.A. in 2000. Thales S.A. was founded in 1893 and is based in Meudon, France.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| VanEck Defense UCITS ETF | DFEN.DE | 4 | 7.03% |
| WisdomTree Europe Defence UCITS ETF - EUR Acc | WDEF.L | 2 | 12.28% |
| Select STOXX Europe Aerospace & Defense ETF | EUAD | 8 | 3.56% |
| Global X European Infrastructure Development UCITS ETF Accum Shs EUR | BRIJ.L | 1 | 8.51% |
| Amundi Stoxx Europe Defense Capitalisation -UCITS ETF Acc- | DEFS.L | 5 | 9.47% |
| HANetf ICAV - Future of European Defence Screened UCITS ETF AccumEUR | ARMY.L | 4 | 9.92% |
| WisdomTree Europe Defense Fund | WDEF | 2 | 9.87% |
Funds with Thales among their ten largest holdings, largest fund first.
Based on consensus from external analysts. Not Kvantra's opinion.
Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide. The company offers advance air defence systems, combat systems, defence onboard electronics c4isr solutions, command and control solutions, mission and surveillance systems, airborne optronics, and airspace protection solutions; collaborative combat, intelligence, connectivity and cloud, country and force protection, military vehicle, collaborative artillery, and augmented soldier solutions; robotics and drones; above-water combat, unmanned maritime, and underwater warfare systems; naval support and services; and joint systems. It also provides mission-critical and radio communications; cyber defence and electronic warfare solutions; protection systems; unmanned aerial vehicle systems; digital transformation services; and Geonav IoT for real-time indoor/outdoor precise navigations. In addition, it offers digital identity and security solutions comprising banking and payment, data protection, digital identity, identity and access management, biometric, mobile, software monetization, secure IoT solutions, and IoT connecting and security solutions. Further, it provides air traffic management solutions; flight decks and avionics equipment and functions; in-flight entertainment, connectivity, and services; drone and navigation solutions; support and services for civil aviation; connectivity solutions; antennas; and solutions for internal and external aircraft lighting. It offers lasers; microwave and imaging sub-systems; microelectronic solutions; mobile satellite, environmental testing and evaluation laboratory, and training and simulation services; cryogenic technology and coolers; silicon security solutions; and designs, operates, and delivers satellite-based technologies. The company was formerly known as Thomson-CSF and changed its name to Thales S.A. in 2000. Thales S.A. was founded in 1893 and is based in Meudon, France.
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