Financials Dassault Aviation

Equities

AM

FR0014004L86

Aerospace & Defense

Market Closed - Euronext Paris 16:35:23 17/07/2024 BST 5-day change 1st Jan Change
167.4 EUR -1.30% Intraday chart for Dassault Aviation -2.05% -6.58%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,726 7,459 7,902 13,163 14,159 13,228 - -
Enterprise Value (EV) 1 5,319 4,165 3,150 9,416 7,050 5,067 4,801 4,832
P/E ratio 13.7 x 24.6 x 13 x 18.4 x 20.9 x 15.1 x 11.9 x 9.98 x
Yield 2.17% 1.37% 2.62% 1.9% 1.88% 2.18% 2.63% 3.08%
Capitalization / Revenue 1.33 x 1.36 x 1.09 x 1.9 x 2.95 x 2.18 x 1.78 x 1.47 x
EV / Revenue 0.72 x 0.76 x 0.43 x 1.36 x 1.47 x 0.84 x 0.65 x 0.54 x
EV / EBITDA 5.86 x 9.97 x 4.64 x 12.6 x 13.5 x 7.4 x 5.41 x 4.31 x
EV / FCF -18.8 x -4.02 x 2.11 x 1.91 x -6.92 x 3.93 x 6.86 x 7.41 x
FCF Yield -5.32% -24.9% 47.3% 52.4% -14.4% 25.5% 14.6% 13.5%
Price to Book 2.2 x 1.64 x 1.5 x 2.18 x 2.47 x 2.07 x 1.83 x 1.62 x
Nbr of stocks (in thousands) 83,131 83,153 83,177 83,207 79,013 79,023 - -
Reference price 2 117.0 89.70 95.00 158.2 179.2 167.4 167.4 167.4
Announcement Date 27/02/20 05/03/21 04/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,341 5,489 7,246 6,929 4,801 6,054 7,423 8,985
EBITDA 1 908 417.9 678.6 746.8 523.6 684.6 887.7 1,120
EBIT 1 765.5 261 527 572.3 349.2 507.4 681.8 882.1
Operating Margin 10.43% 4.75% 7.27% 8.26% 7.27% 8.38% 9.19% 9.82%
Earnings before Tax (EBT) 1 959.3 379.7 748.2 862.2 827.7 1,098 1,416 1,675
Net income 1 712.7 302.8 605.4 716.2 693.4 886.7 1,108 1,331
Net margin 9.71% 5.52% 8.35% 10.34% 14.44% 14.65% 14.93% 14.81%
EPS 2 8.570 3.640 7.280 8.620 8.570 11.11 14.04 16.77
Free Cash Flow 1 -282.9 -1,036 1,490 4,935 -1,018 1,290 700 652.3
FCF margin -3.85% -18.88% 20.56% 71.22% -21.21% 21.31% 9.43% 7.26%
FCF Conversion (EBITDA) - - 219.58% 660.77% - 188.46% 78.85% 58.24%
FCF Conversion (Net income) - - 246.13% 689.02% - 145.51% 63.18% 49.01%
Dividend per Share 2 2.540 1.230 2.490 3.000 3.370 3.646 4.403 5.163
Announcement Date 27/02/20 05/03/21 04/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 4,275 2,646 2,843 3,107 4,140 3,098 3,830 2,295 2,505 2,803 3,209 3,601 3,933
EBITDA - - - - - - - - - - - - -
EBIT 1 515.4 54.96 206 174.7 352.1 199.9 372.4 151.1 198 217.8 285.6 285.1 373.9
Operating Margin 12.06% 2.08% 7.25% 5.62% 8.5% 6.45% 9.72% 6.58% 7.9% 7.77% 8.9% 7.92% 9.51%
Earnings before Tax (EBT) 627.5 36.26 343.4 254.6 493.6 322 540.2 - - - - - -
Net income 459 32.01 270.8 211.8 393.6 271.5 444.7 - - - - - -
Net margin 10.74% 1.21% 9.52% 6.82% 9.51% 8.76% 11.61% - - - - - -
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 27/02/20 23/07/20 05/03/21 22/07/21 04/03/22 20/07/22 09/03/23 20/07/23 06/03/24 - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 4,408 3,294 4,751 3,747 7,109 8,161 8,428 8,397
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -283 -1,036 1,490 4,935 -1,018 1,290 700 652
ROE (net income / shareholders' equity) 18.7% 8.79% 12.3% 12.7% 11.8% 15.8% 17.2% 18.1%
ROA (Net income/ Total Assets) 5.02% 2.08% 4.05% 4.28% 3.01% 3.99% 4.62% 4.78%
Assets 1 14,194 14,540 14,964 16,717 23,014 22,222 24,006 27,838
Book Value Per Share 2 53.30 54.60 63.50 72.50 72.70 80.90 91.30 103.0
Cash Flow per Share 2 -0.8000 -6.800 20.00 61.50 -8.310 15.70 13.30 1.040
Capex 1 217 471 173 175 346 212 222 247
Capex / Sales 2.95% 8.58% 2.38% 2.53% 7.2% 3.49% 3% 2.75%
Announcement Date 27/02/20 05/03/21 04/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
167.4 EUR
Average target price
219.6 EUR
Spread / Average Target
+31.17%
Consensus

Quarterly revenue - Rate of surprise

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