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 47,753 - -
Change - 58.57% 10.55% 1.97% 65.74% 1.18% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 48,170 46,682 45,031
Change - 51.25% 26.21% -1.27% 54.86% -1.32% -3.09% -3.54%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 25.1x 20.9x 18.4x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.38x 4.71x 4.12x
PEG - 6.81x -3.8x 0.5x 1.5x 1.9x 1x 1.3x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.01x 1.86x 1.71x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.03x 1.82x 1.61x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.6x 11.1x 9.63x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 16.1x 13.9x 12.1x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 21.1x 18.5x 15.9x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.74% 5.41% 6.27%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.272 4.898 5.499
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.84% 2.11% 2.37%
EPS 2 5.12 5.29 4.91 6.89 8.15 9.252 11.11 12.66
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 46.2% 44.1% 43.4%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,716 25,674 27,885
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,808 4,206 4,677
EBIT 1 1,649 1,935 2,132 2,419 2,740 2,998 3,347 3,723
Net income 1 1,089 1,121 1,023 1,420 1,675 1,863 2,224 2,536
Net Debt 1 795 35.2 4,000 3,044 1,618 417.1 -1,071 -2,721
Reference price 2 74.80 119.30 133.95 138.65 229.80 232.40 232.40 232.40
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,477 - -
Announcement Date 3/3/22 3/8/23 3/5/24 3/4/25 3/3/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
1471.54x12.62x205.27x - 13.37B
-53.26x22.18x998.09x-.--% 10.06B
51.56x3.28x17.96x0.95% 9.6B
111.4x5.53x48.87x0.17% 8.91B
29.28x4.83x22.37x1.67% 3.4B
51.1x25.15x-185.78x-.--% 1.04B
90.46x4.66x37.66x0.14% 766M
45.9x - - - 719M
Average 224.75x 11.18x 163.49x 0.49% 5.98B
Weighted average by Cap. 436.21x 11.00x 282.25x 0.49%

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

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