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 53,769 - -
Change - 58.57% 10.55% 1.97% 65.74% 13.93% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 53,965 53,588 50,585
Change - 51.25% 26.21% -1.27% 54.86% 10.56% -0.7% -5.6%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 31.2x 23.2x 20.4x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 6.18x 5.39x 4.68x
PEG - 6.81x -3.8x 0.5x 1.5x 10.92x 0.7x 1.5x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.26x 2.08x 1.91x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.27x 2.07x 1.8x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 14x 12.5x 10.8x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 18x 15.8x 13.4x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 22.6x 20.9x 17.4x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.42% 4.8% 5.73%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.299 4.96 5.57
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.64% 1.9% 2.13%
EPS 2 5.12 5.29 4.91 6.89 8.15 8.383 11.27 12.84
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 51.3% 44% 43.4%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,802 25,859 28,082
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,852 4,273 4,678
EBIT 1 1,649 1,935 2,132 2,419 2,740 2,997 3,400 3,779
Net income 1 1,089 1,121 1,023 1,420 1,675 1,675 2,212 2,514
Net Debt 1 795 35.2 4,000 3,044 1,618 195.9 -181.5 -3,184
Reference price 2 74.80 119.30 133.95 138.65 229.80 261.70 261.70 261.70
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
59.15x3.88x20.98x0.79% 11.63B
1189.23x10.24x166.52x - 10.83B
-43.08x17.77x799.51x-.--% 8.14B
79.22x3.43x30.26x0.28% 6.06B
26.79x5.04x21.88x1.71% 3.37B
51.52x24.64x-181.59x-.--% 1.04B
37.98x - - - 596M
61.91x3.13x25.32x0.2% 563M
Average 182.84x 9.73x 126.13x 0.5% 5.28B
Weighted average by Cap. 329.15x 8.78x 207.41x 0.54%

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