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Thales S.A. (HO.PA)

EUR218.30 -2.80 (-1.27%)
FR PAR Industrials Aerospace & Defense
Address 4 Rue De La Verrerie 92190
Meudon, IF, FR
CEO Patrice Caine
Website thalesgroup.com
IPO 2000-01-03
ISIN FR0000121329

Explore sections of this company profile

Also trades on Euronext Paris · HO.PA (EUR) London Stock Exchange · 0IW5.L (EUR) Other OTC · THLEF (USD) Other OTC · THLLY (USD)
Description

Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide. The company offers advance air defence systems, combat systems, defence onboard electronics c4isr solutions, command and control solutions, mission and surveillance systems, airborne optronics, and airspace protection solutions; collaborative combat, intelligence, connectivity and cloud, country and force protection, military vehicle, collaborative artillery, and augmented soldier solutions; robotics and drones; above-water combat, unmanned maritime, and underwater warfare systems; naval support and services; and joint systems. It also provides mission-critical and radio communications; cyber defence and electronic warfare solutions; protection systems; unmanned aerial vehicle systems; digital transformation services; and Geonav IoT for real-time indoor/outdoor precise navigations. In addition, it offers digital identity and security solutions comprising banking and payment, data protection, digital identity, identity and access management, biometric, mobile, software monetization, secure IoT solutions, and IoT connecting and security solutions. Further, it provides air traffic management solutions; flight decks and avionics equipment and functions; in-flight entertainment, connectivity, and services; drone and navigation solutions; support and services for civil aviation; connectivity solutions; antennas; and solutions for internal and external aircraft lighting. It offers lasers; microwave and imaging sub-systems; microelectronic solutions; mobile satellite, environmental testing and evaluation laboratory, and training and simulation services; cryogenic technology and coolers; silicon security solutions; and designs, operates, and delivers satellite-based technologies. The company was formerly known as Thomson-CSF and changed its name to Thales S.A. in 2000. Thales S.A. was founded in 1893 and is based in Meudon, France.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR218.30 -2.80 (-1.27%)
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Volume Profile
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Liquidity & share structure
Average Volume
278.5K
Beta
0.11
Float Shares
89.05M
Free Float %
43.3%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.04% +3.90% +2.39% -6.04% +6.26% +4.22% -10.43% +81.03% +185.60% +208.87% +762.75%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
218.30
DCF (Unlevered) 266.02 +21.9%
DCF (Levered) 542.29 +148.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 56% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 9 0
Hold 6 0
Sell 1 0
Strong Sell 1 0
Quality scores
Altman Z-Score
2.38
Grey zone
Piotroski F-Score
8 / 9
Strong
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • ✓
    Revenue growth Aerospace & Defense: +15.4%
    +7.6% Q4'25: +22.2% (vs Q4'23)
  • ✓
    EPS growth Aerospace & Defense: +32.2%
    +18.0% Q4'25: +172.8% (vs Q4'23)
  • ✓
    FCF margin FCF growth · Aerospace & Defense: +45.0%
    +12.3% ★ Q4'25: +17.7% (vs Q4'23)
  • ✗
    EBIT margin Aerospace & Defense: +9.2%
    +10.0% ★ Q4'25: +10.7% (vs Q4'23)
  • ✓
    ROIC Aerospace & Defense: +6.2%
    +18.6% ★ Q4'25: +44.1% (vs Q4'23)
  • ✓
    Share dilution Aerospace & Defense: +0.0%
    -0.1% ★ Q4'25: -1.2% (vs Q4'23)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Aerospace & Defense: 0.16×
    1.85× Q4'25: 0.84× (vs Q4'23)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.10) × ERP
WACC = 89% × Ke + 11% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 266.02 Current price: 218.30
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2001
actual 		Dec 2002
actual 		Dec 2003
actual 		Dec 2004
actual 		Dec 2005
actual 		Dec 2006
actual 		Dec 2007
actual 		Dec 2008
actual 		Dec 2009
actual 		Dec 2010
actual 		Dec 2011
actual 		Dec 2012
actual 		Dec 2013
actual 		Dec 2014
actual 		Dec 2015
actual 		Dec 2016
actual 		Dec 2017
actual 		Dec 2018
actual 		Dec 2019
actual 		Dec 2020
actual 		Dec 2021
actual 		Dec 2022
actual 		Dec 2023
actual 		Dec 2024
actual 		Dec 2025
actual 		Dec 2026
16 Rev. Ana.
13 EPS Ana. 		Dec 2027
17 Rev. Ana.
13 EPS Ana. 		Dec 2028
14 Rev. Ana.
8 EPS Ana. 		Dec 2029
9 Rev. Ana.
6 EPS Ana. 		Dec 2030
13 Rev. Ana.
6 EPS Ana.
Revenue
10.27B
est: 10.18B (+0.8%)
11.11B
est: 11.26B (-1.4%)
10.57B
est: 10.87B (-2.7%)
10.28B
est: 10.72B (-4.1%)
10.26B
est: 10.53B (-2.5%)
10.26B
est: 10.69B (-4.0%)
12.30B
est: 12.52B (-1.8%)
12.66B
est: 12.90B (-1.8%)
12.88B
est: 13.02B (-1.1%)
13.12B
est: 13.43B (-2.3%)
13.03B
est: 13.30B (-2.0%)
14.16B
est: 14.03B (+0.9%)
14.19B
est: 14.47B (-1.9%)
12.97B
est: 13.06B (-0.6%)
14.06B
est: 13.79B (+2.0%)
14.88B
est: 14.85B (+0.2%)
15.80B
est: 15.61B (+1.2%)
15.85B
est: 16.01B (-0.9%)
18.40B
est: 18.38B (+0.1%)
16.99B
est: 16.99B (0.0%)
16.19B
est: 16.73B (-3.2%)
17.57B
est: 17.59B (-0.1%)
18.43B
est: 19.21B (-4.0%)
20.58B
est: 20.12B (+2.3%)
22.14B
est: 21.92B (+1.0%)
23.72B
23.29B – 24.14B
+8.2% YoY
25.69B
24.61B – 26.51B
+8.3% YoY
27.81B
27.75B – 27.86B
+8.2% YoY
30.14B
29.22B – 30.89B
+8.4% YoY
32.10B
31.13B – 32.91B
+6.5% YoY
EBITDA
969.10M
est: 603.62M (+60.5%)
904.30M
est: 688.16M (+31.4%)
979.70M
est: 601.42M (+62.9%)
854.90M
est: 520.63M (+64.2%)
822.50M
est: 634.32M (+29.7%)
874.60M
est: 620.55M (+40.9%)
1.53B
est: 848.03M (+80.4%)
1.14B
est: 1.43B (-20.1%)
135.30M
est: 1.00B (-86.5%)
197.80M
est: -69.30M (+385.4%)
1.12B
est: 42.18M (+2,547.0%)
1.31B
est: 1.07B (+22.0%)
1.12B
est: 1.19B (-5.9%)
1.50B
est: 1.13B (+33.2%)
1.45B
est: 1.47B (-1.2%)
1.68B
est: 1.56B (+7.5%)
1.38B
est: 1.71B (-18.9%)
1.71B
est: 1.37B (+24.8%)
2.47B
est: 1.95B (+26.8%)
1.65B
est: 2.22B (-25.8%)
2.17B
est: 2.39B (-9.1%)
2.29B
est: 2.55B (-10.1%)
2.46B
est: 2.60B (-5.5%)
2.67B
est: 2.73B (-2.0%)
3.31B
est: 2.97B (+11.4%)
3.21B
3.15B – 3.27B
+8.2% YoY
3.48B
3.33B – 3.59B
+8.3% YoY
3.76B
3.76B – 3.77B
+8.2% YoY
4.08B
3.96B – 4.18B
+8.4% YoY
4.35B
4.21B – 4.46B
+6.5% YoY
EBIT
645.40M
est: 521.41M (+23.8%)
596.90M
est: -327.22M (+282.4%)
697.90M
est: 253.08M (+175.8%)
2.33B
est: 318.73M (+631.8%)
2.32B
est: 448.95M (+416.2%)
567.50M
est: 557.58M (+1.8%)
1.11B
est: 674.58M (+64.0%)
707.20M
est: 1.05B (-32.7%)
-285.50M
est: 726.85M (-139.3%)
-278.20M
est: -215.52M (-29.1%)
804.90M
est: -203.00M (+496.5%)
937.80M
est: 766.05M (+22.4%)
908.20M
est: 938.31M (-3.2%)
1.09B
est: 819.54M (+32.5%)
1.11B
est: 1.18B (-6.3%)
1.36B
est: 1.21B (+12.6%)
1.06B
est: 1.49B (-29.2%)
1.42B
est: 1.17B (+21.2%)
1.56B
est: 1.69B (-7.7%)
608.10M
est: 1.52B (-59.9%)
1.25B
est: 1.63B (-23.5%)
1.45B
est: 1.74B (-16.4%)
1.41B
est: 1.49B (-5.6%)
1.52B
est: 1.96B (-22.4%)
2.22B
est: 1.71B (+30.1%)
1.85B
1.81B – 1.88B
+8.2% YoY
2.00B
1.92B – 2.06B
+8.3% YoY
2.16B
2.16B – 2.17B
+8.2% YoY
2.35B
2.27B – 2.40B
+8.4% YoY
2.50B
2.42B – 2.56B
+6.5% YoY
Net Income
-366.20M
est: 239.83M (-252.7%)
111.10M
est: -404.61M (+127.5%)
112.40M
est: 110.60M (+1.6%)
325.50M
est: 110.52M (+194.5%)
333.90M
est: 197.54M (+69.0%)
388.00M
est: 339.22M (+14.4%)
887.40M
est: 454.41M (+95.3%)
559.90M
est: 913.75M (-38.7%)
-201.60M
est: 566.12M (-135.6%)
-107.60M
est: -208.30M (+48.3%)
511.80M
est: -106.94M (+578.6%)
585.50M
est: 540.25M (+8.4%)
573.40M
est: 552.67M (+3.8%)
714.20M
est: 517.18M (+38.1%)
765.10M
est: 766.61M (-0.2%)
946.40M
est: 822.85M (+15.0%)
679.80M
est: 993.86M (-31.6%)
981.80M
est: 700.59M (+40.1%)
1.12B
est: 1.12B (-0.2%)
483.40M
est: 1.03B (-53.3%)
1.09B
est: 1.11B (-2.0%)
1.12B
est: 1.18B (-4.9%)
1.02B
est: 953.30M (+7.4%)
1.42B
est: 1.70B (-16.5%)
1.67B
est: 1.95B (-14.0%)
2.30B
2.08B – 2.52B
+18.1% YoY
2.60B
2.40B – 2.81B
+13.2% YoY
2.84B
2.53B – 3.14B
+9.0% YoY
3.13B
3.01B – 3.23B
+10.3% YoY
3.44B
3.31B – 3.55B
+9.9% YoY
SGA
1.49B
est: 1.34B (+11.3%)
1.50B
est: 1.50B (-0.1%)
1.49B
est: 1.35B (+10.3%)
455.50M
est: 1.27B (-64.2%)
212.50M
est: 1.27B (-83.3%)
1.51B
est: 1.34B (+12.2%)
1.40B
est: 1.54B (-9.0%)
1.41B
est: 1.44B (-2.3%)
1.45B
est: 1.43B (+1.4%)
1.45B
est: 1.49B (-3.0%)
1.43B
est: 1.43B (+0.1%)
1.56B
est: 1.51B (+3.0%)
1.55B
est: 1.61B (-3.3%)
1.43B
est: 1.40B (+2.2%)
1.51B
est: 1.54B (-1.7%)
1.57B
est: 1.63B (-3.6%)
1.59B
est: 1.65B (-3.5%)
1.65B
est: 1.67B (-1.0%)
2.02B
est: 1.89B (+6.8%)
1.92B
est: 1.86B (+3.1%)
1.77B
est: 2.00B (-11.5%)
1.95B
est: 2.13B (-8.7%)
2.01B
est: 2.09B (-4.1%)
2.28B
est: 2.19B (+4.2%)
2.31B
est: 2.39B (-3.3%)
2.58B
2.54B – 2.63B
+8.2% YoY
2.80B
2.68B – 2.89B
+8.3% YoY
3.03B
3.02B – 3.03B
+8.2% YoY
3.28B
3.18B – 3.36B
+8.4% YoY
3.49B
3.39B – 3.58B
+6.5% YoY
EPS
-2.27
est: 0.99 (-328.8%)
0.70
est: 1.30 (-46.1%)
0.69
est: 1.03 (-33.3%)
2.00
est: 1.41 (+41.4%)
1.99
est: 1.92 (+3.6%)
2.30
est: 2.23 (+3.1%)
4.56
est: 3.00 (+51.9%)
2.87
est: 3.03 (-5.2%)
-1.03
est: 1.30 (-179.3%)
-0.55
est: 0.69 (-179.8%)
2.60
est: 2.63 (-1.0%)
2.94
est: 2.75 (+7.1%)
2.85
est: 3.33 (-14.4%)
3.49
est: 3.14 (+11.0%)
3.68
est: 3.62 (+1.6%)
4.49
est: 4.32 (+3.8%)
3.21
est: 4.72 (-32.0%)
4.62
est: 5.26 (-12.2%)
5.28
est: 6.44 (-18.0%)
2.27
est: 4.31 (-47.4%)
5.12
est: 5.81 (-11.9%)
5.29
est: 6.97 (-24.1%)
4.91
est: 4.61 (+6.5%)
6.91
est: 8.28 (-16.6%)
8.15
est: 9.35 (-12.9%)
10.64
10.08 – 12.26
+13.7% YoY
12.26
11.65 – 13.64
+15.2% YoY
13.78
12.31 – 15.27
+12.5% YoY
15.21
14.61 – 15.70
+10.3% YoY
16.72
16.06 – 17.26
+9.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-28 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-27 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-26 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-25 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-22 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-21 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-20 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-19 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-18 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-15 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-14 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-13 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-12 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-11 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-05-08 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-05-07 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-05-06 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-05-05 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-05-04 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-30 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-29 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-28 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-27 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-24 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-23 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-22 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-21 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-20 B+ 3/5 5/5 5/5 4/5 1/5 2/5 1/5
2026-04-17 B+ 3/5 5/5 5/5 5/5 1/5 2/5 1/5
2026-04-16 B+ 3/5 5/5 5/5 5/5 1/5 2/5 1/5
2026-04-15 B+ 3/5 5/5 5/5 5/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
5.84B
OE per share TTM
28.41
Owner's Yield
11.87%
Maintenance CapEx ratio
1.37%
Maint CapEx / Avg PPE
19.6%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
1
Total invested
7.47M
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
1
+0 vs prev Q
New positions
0
Closed positions
0
Increased
1
Reduced
0
Put/Call ratio
0.00
Calls held
—
Puts held
—
Top institutional holders
# Investor ⇅ Shares / Δ ⇅ Mkt value / Δ ⇅ Own% / Δ ⇅ Weight% / Δ ⇅ Avg px / Perf. ⇅ Hold / Status ⇅
1 GENERALI INVESTMENTS CEE, INVESTICNI SPOLECNOST, A.S. 25.1K +3.5K (+16.3%) 6.76M +18.4K (+0.3%) 0.01% +0.002 pp 0.48% -0.037 pp EUR158.00 +45.4% 5 qtrs —
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
27.6K
Shares Outstanding
205.52M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Patrice Caine Chairman & Chief Executive Officer 2M male
Jean-Claude Climeau Head of Group Treasury & Corporate Finance and Vice President — male
Louis Thibaut Nicolas Igonet Vice President & Head of Investor Relations — male
Marko Erman Senior Vice President & Chief Scientific Officer — male
Pascal Bouchiat Senior EVice President of Finance & Information Systems and Chief Financial Officer — male
Peggy Nahmany Executive Vice President of Communications — female
Philippe Keryer Senior Executive Vice-President of Strategy, Research & Technology — male
Philippe Knoche Senior Executive Vice President of Operations & Performance — male
Isabelle Simon Senior Executive Vice President, Group Secretary & General Counsel — female
Pierre Schaeffer Chief Marketing Officer & Senior Vice President — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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