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 46,602 - -
Change - 58.57% 10.55% 1.97% 65.74% -1.26% - -
Enterprise Value (EV) 1 16,724 25,295 31,925 31,520 48,813 47,012 46,111 43,643
Change - 51.25% 26.21% -1.27% 54.86% -3.69% -1.92% -5.35%
P/E 14.6x 22.6x 27.3x 20.1x 28.2x 25.9x 20.5x 17.9x
PBR 2.46x 3.49x 4.05x 3.79x 5.93x 5.33x 4.66x 4.06x
PEG - 6.81x -3.8x 0.5x 1.5x 3.44x 0.8x 1.2x
Capitalization / Revenue 0.98x 1.44x 1.52x 1.38x 2.13x 1.96x 1.81x 1.67x
EV / Revenue 1.03x 1.44x 1.73x 1.53x 2.21x 1.98x 1.79x 1.57x
EV / EBITDA 7.12x 10.5x 12.4x 10.9x 12.8x 12.3x 10.9x 9.41x
EV / EBIT 10.1x 13.1x 15x 13x 17.8x 15.7x 13.7x 11.7x
EV / FCF 7.41x 10.2x 15.8x 15.6x 18.9x 21.3x 18.1x 15.1x
FCF Yield 13.5% 9.85% 6.35% 6.43% 5.28% 4.69% 5.54% 6.63%
Dividend per Share 2 2.56 2.94 3.4 3.7 3.9 4.223 4.875 5.498
Rate of return 3.42% 2.46% 2.54% 2.67% 1.7% 1.86% 2.15% 2.42%
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% 43.5%
Net sales 1 16,192 17,569 18,428 20,577 22,136 23,723 25,722 27,881
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 3,356 3,738
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 1,618 410.1 -491 -2,959
Reference price 2 74.80 119.30 133.95 138.65 229.80 226.80 226.80 226.80
Nbr of stocks (in thousands) 212,957 211,730 208,476 205,380 205,373 205,477 - -
Announcement Date 3/3/22 A 3/8/23 A 3/5/24 A 3/4/25 A 3/3/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
1146.35x9.87x160.64x - 10.41B
52.92x3.47x18.68x0.89% 10.19B
-42.64x17.58x791.05x-.--% 8.05B
77.66x3.35x29.6x0.28% 5.89B
24.92x4.67x20.24x1.84% 3.12B
48x23.6x-174.31x-.--% 964M
36.08x - - - 565M
66.05x3.35x27.11x0.19% 580M
Average 176.17x 9.41x 124.72x 0.53% 4.97B
Weighted average by Cap. 321.05x 8.64x 212.21x 0.58%

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