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 46,849 - -
Change - 58.57% 10.55% 1.97% 65.74% -0.73% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 47,266 45,778 44,127
Change - 51.25% 26.21% -1.27% 54.86% -3.17% -3.15% -3.61%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 24.6x 20.5x 18x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.27x 4.62x 4.04x
PEG - 6.81x -3.8x 0.5x 1.5x 1.8x 1x 1.3x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 1.98x 1.82x 1.68x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 1.99x 1.78x 1.58x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.4x 10.9x 9.43x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 15.8x 13.7x 11.9x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 20.7x 18.1x 15.6x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.83% 5.52% 6.4%
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% 1.87% 2.15% 2.41%
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 74.80 119.30 133.95 138.65 229.80 228.00 228.00 228.00
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.($)
1376.35x11.81x192.21x - 12.47B
-53.83x22.42x1009.12x-.--% 10.17B
50.74x3.23x17.69x0.96% 9.37B
103.02x5.12x45.2x0.19% 8.18B
27.96x4.6x21.32x1.75% 3.24B
51.34x25.27x-186.68x-.--% 1.04B
75.93x3.88x31.38x0.17% 642M
43.31x - - - 676M
Average 209.35x 10.91x 161.46x 0.51% 5.72B
Weighted average by Cap. 396.43x 10.89x 290.13x 0.5%

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

-40%: Exceptional extension
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