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 45,205 - -
Change - 58.57% 10.55% 1.97% 65.74% -4.22% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 45,613 44,372 42,317
Change - 51.25% 26.21% -1.27% 54.86% -6.55% -2.72% -4.63%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 25.1x 19.9x 17.4x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.13x 4.49x 3.95x
PEG - 6.81x -3.8x 0.5x 1.5x 3.34x 0.8x 1.2x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 1.9x 1.76x 1.62x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 1.92x 1.73x 1.52x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12x 10.5x 9.12x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 15.2x 13.2x 11.3x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 20.5x 17.4x 15x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.89% 5.75% 6.68%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.222 4.876 5.495
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.92% 2.22% 2.5%
EPS 2 5.12 5.29 4.91 6.89 8.15 8.763 11.05 12.65
Distribution rate 50% 55.6% 69.2% 53.7% 47.9% 48.2% 44.1% 43.4%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,731 25,701 27,839
EBITDA 1 2,348 2,405 2,582 2,898 3,827 3,809 4,212 4,640
EBIT 1 1,649 1,935 2,132 2,419 2,740 2,999 3,352 3,730
Net income 1 1,089 1,121 1,023 1,420 1,675 1,760 2,216 2,529
Net Debt 1 795 35.2 4,000 3,044 1,618 408.4 -833.5 -2,888
Reference price 2 74.80 119.30 133.95 138.65 229.80 220.00 220.00 220.00
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,477 - -
Announcement Date 03/03/22 08/03/23 05/03/24 04/03/25 03/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.11x1.92x11.97x1.92% 51.73B
1579.42x13.53x220.08x - 14.34B
50.1x3.3x17.76x0.94% 9.67B
-48.23x20x899.9x-.--% 9.11B
82.81x3.6x31.76x0.26% 6.3B
25.58x4.8x20.81x1.79% 3.2B
48.93x24.06x-177.74x-.--% 989M
43.77x - - - 685M
62.08x3.14x25.4x0.2% 541M
Average 207.73x 9.29x 131.24x 0.73% 10.73B
Weighted average by Cap. 255.87x 5.96x 127.76x 1.42%

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