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 51,365 - -
Change - 58.57% 10.55% 1.97% 65.74% 8.84% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 51,549 51,511 48,143
Change - 51.25% 26.21% -1.27% 54.86% 5.61% -0.07% -6.54%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 29.5x 22.2x 19.5x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.88x 5.13x 4.47x
PEG - 6.81x -3.8x 0.5x 1.5x 7.31x 0.7x 1.4x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.16x 1.98x 1.83x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.16x 1.99x 1.71x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 13.4x 12x 10.3x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 17.1x 15.1x 12.7x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 21.7x 20.1x 16.6x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.6% 4.99% 6.03%
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% 1.71% 1.98% 2.23%
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 74.80 119.30 133.95 138.65 229.80 250.00 250.00 250.00
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,461 - -
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.($)
29.48x2.16x13.36x1.71% 59.94B
58.77x3.85x20.87x0.8% 11.74B
582.03x9.88x126.28x - 10.6B
-40.66x16.72x752.43x-.--% 7.68B
66.18x2.53x23.69x0.4% 4.66B
25.47x4.78x20.75x1.8% 3.22B
60.2x28.88x-161.6x-.--% 1.2B
37.16x - - - 586M
Average 102.33x 9.83x 113.69x 0.78% 12.45B
Weighted average by Cap. 88.31x 4.74x 82.25x 1.35%

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