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 48,226 - -
Change - 58.57% 10.55% 1.97% 65.74% 2.18% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 48,643 47,155 45,504
Change - 51.25% 26.21% -1.27% 54.86% -0.35% -3.06% -3.5%
P/E Ratio 14.6x 22.6x 27.3x 20.1x 28.2x 25.4x 21.1x 18.5x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.43x 4.76x 4.16x
PEG - 6.81x -3.8x 0.5x 1.5x 1.9x 1.1x 1.3x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 2.03x 1.88x 1.73x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 2.05x 1.84x 1.63x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.8x 11.2x 9.73x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 16.2x 14.1x 12.2x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 21.3x 18.7x 16.1x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.69% 5.36% 6.21%
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% 1.82% 2.09% 2.34%
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 74.80 119.30 133.95 138.65 229.80 234.70 234.70 234.70
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,477 - -
Announcement Date 3/3/22 8/3/23 5/3/24 4/3/25 3/3/26 - - -
1EUR in Million2EUR
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
1500x12.86x209.18x - 13.63B
-58.77x24.84x1106.67x-.--% 11.1B
53.81x3.41x18.69x0.91% 10.11B
112.77x5.6x49.47x0.17% 9.1B
30.9x5.11x23.67x1.59% 3.59B
61.83x30.85x-227.93x-.--% 1.28B
87.58x4.65x41.83x0.16% 851M
43.92x - - - 688M
Average 229.01x 12.48x 174.51x 0.47% 6.29B
Weighted average by Cap. 430.09x 12.05x 314.20x 0.46%

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

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