THALES SA (CSF.DE) Fundamental Analysis & Valuation

FRA:CSF • FR0000121329

Current stock price

255.1 EUR
+0.8 (+0.31%)
Last:

This CSF.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. CSF.DE Profitability Analysis

1.1 Basic Checks

  • CSF had positive earnings in the past year.
  • CSF had a positive operating cash flow in the past year.
  • CSF had positive earnings in each of the past 5 years.
  • Each year in the past 5 years CSF had a positive operating cash flow.
CSF.DE Yearly Net Income VS EBIT VS OCF VS FCFCSF.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

1.2 Ratios

  • CSF's Return On Assets of 4.28% is in line compared to the rest of the industry. CSF outperforms 59.65% of its industry peers.
  • With a decent Return On Equity value of 21.01%, CSF is doing good in the industry, outperforming 73.68% of the companies in the same industry.
  • CSF has a better Return On Invested Capital (12.72%) than 82.46% of its industry peers.
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROIC 12.72%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
CSF.DE Yearly ROA, ROE, ROICCSF.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • With a decent Profit Margin value of 7.56%, CSF is doing good in the industry, outperforming 61.40% of the companies in the same industry.
  • CSF's Profit Margin has improved in the last couple of years.
  • CSF has a better Operating Margin (10.02%) than 63.16% of its industry peers.
  • CSF's Operating Margin has improved in the last couple of years.
  • CSF has a Gross Margin of 26.44%. This is comparable to the rest of the industry: CSF outperforms 52.63% of its industry peers.
  • CSF's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 10.02%
PM (TTM) 7.56%
GM 26.44%
OM growth 3Y6.86%
OM growth 5Y11.37%
PM growth 3Y5.85%
PM growth 5Y19.19%
GM growth 3Y1.4%
GM growth 5Y2.57%
CSF.DE Yearly Profit, Operating, Gross MarginsCSF.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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3

2. CSF.DE Health Analysis

2.1 Basic Checks

  • CSF has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • There is no outstanding debt for CSF. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
CSF.DE Yearly Shares OutstandingCSF.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
CSF.DE Yearly Total Debt VS Total AssetsCSF.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • CSF has an Altman-Z score of 1.95. This is not the best score and indicates that CSF is in the grey zone with still only limited risk for bankruptcy at the moment.
  • CSF's Altman-Z score of 1.95 is on the low side compared to the rest of the industry. CSF is outperformed by 70.18% of its industry peers.
  • CSF has a debt to FCF ratio of 2.39. This is a good value and a sign of high solvency as CSF would need 2.39 years to pay back of all of its debts.
  • CSF has a Debt to FCF ratio of 2.39. This is in the better half of the industry: CSF outperforms 78.95% of its industry peers.
  • A Debt/Equity ratio of 0.50 indicates that CSF is somewhat dependend on debt financing.
  • The Debt to Equity ratio of CSF (0.50) is comparable to the rest of the industry.
  • Although CSF's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Altman-Z 1.95
ROIC/WACC1.41
WACC9.02%
CSF.DE Yearly LT Debt VS Equity VS FCFCSF.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 0.84 indicates that CSF may have some problems paying its short term obligations.
  • CSF has a worse Current ratio (0.84) than 87.72% of its industry peers.
  • A Quick Ratio of 0.65 indicates that CSF may have some problems paying its short term obligations.
  • CSF has a Quick ratio of 0.65. This is in the lower half of the industry: CSF underperforms 68.42% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.65
CSF.DE Yearly Current Assets VS Current LiabilitesCSF.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

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5

3. CSF.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 18.38% over the past year.
  • CSF shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 29.08% yearly.
  • The Revenue has been growing slightly by 7.58% in the past year.
  • The Revenue has been growing slightly by 7.57% on average over the past years.
EPS 1Y (TTM)18.38%
EPS 3Y15.56%
EPS 5Y29.08%
EPS Q2Q%151.79%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%

3.2 Future

  • CSF is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.54% yearly.
  • The Revenue is expected to grow by 7.68% on average over the next years.
EPS Next Y15.93%
EPS Next 2Y14.33%
EPS Next 3Y13.88%
EPS Next 5Y13.54%
Revenue Next Year7.44%
Revenue Next 2Y7.69%
Revenue Next 3Y7.84%
Revenue Next 5Y7.68%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
CSF.DE Yearly Revenue VS EstimatesCSF.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
CSF.DE Yearly EPS VS EstimatesCSF.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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4

4. CSF.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 31.38, the valuation of CSF can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of CSF indicates a somewhat cheap valuation: CSF is cheaper than 78.95% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.70. CSF is valued slightly more expensive when compared to this.
  • CSF is valuated rather expensively with a Price/Forward Earnings ratio of 22.70.
  • 78.95% of the companies in the same industry are more expensive than CSF, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.84, CSF is valued at the same level.
Industry RankSector Rank
PE 31.38
Fwd PE 22.7
CSF.DE Price Earnings VS Forward Price EarningsCSF.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CSF is valued a bit cheaper than the industry average as 73.68% of the companies are valued more expensively.
  • 96.49% of the companies in the same industry are more expensive than CSF, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 20.48
EV/EBITDA 16.31
CSF.DE Per share dataCSF.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CSF does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of CSF may justify a higher PE ratio.
  • CSF's earnings are expected to grow with 13.88% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.97
PEG (5Y)1.08
EPS Next 2Y14.33%
EPS Next 3Y13.88%

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6

5. CSF.DE Dividend Analysis

5.1 Amount

  • CSF has a Yearly Dividend Yield of 1.65%.
  • Compared to an average industry Dividend Yield of 0.76, CSF pays a better dividend. On top of this CSF pays more dividend than 84.21% of the companies listed in the same industry.
  • CSF's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.65%

5.2 History

  • The dividend of CSF is nicely growing with an annual growth rate of 9.56%!
Dividend Growth(5Y)9.56%
Div Incr YearsN/A
Div Non Decr YearsN/A
CSF.DE Yearly Dividends per shareCSF.DE Yearly Dividends per shareYearly Dividends per share 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • CSF pays out 46.62% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of CSF is growing, but earnings are growing more, so the dividend growth is sustainable.
DP46.62%
EPS Next 2Y14.33%
EPS Next 3Y13.88%
CSF.DE Yearly Income VS Free CF VS DividendCSF.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B
CSF.DE Dividend Payout.CSF.DE Dividend Payout, showing the Payout Ratio.CSF.DE Dividend Payout.PayoutRetained Earnings

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CSF.DE Fundamentals: All Metrics, Ratios and Statistics

THALES SA

FRA:CSF (3/13/2026, 7:00:00 PM)

255.1

+0.8 (+0.31%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)03-03
Earnings (Next)04-22
Inst Owners22.9%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap52.54B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts77.86
Price Target292.43 (14.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.65%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP46.62%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.36%
PT rev (3m)4.12%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.89%
EPS NY rev (3m)-0.69%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.12%
Valuation
Industry RankSector Rank
PE 31.38
Fwd PE 22.7
P/S 2.37
P/FCF 20.48
P/OCF 15.82
P/B 6.59
P/tB N/A
EV/EBITDA 16.31
EPS(TTM)8.13
EY3.19%
EPS(NY)11.24
Fwd EY4.4%
FCF(TTM)12.46
FCFY4.88%
OCF(TTM)16.13
OCFY6.32%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.97
PEG (5Y)1.08
Graham Number84.13
Profitability
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROCE 15.94%
ROIC 12.72%
ROICexc 18.82%
ROICexgc N/A
OM 10.02%
PM (TTM) 7.56%
GM 26.44%
FCFM 11.59%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y6.86%
OM growth 5Y11.37%
PM growth 3Y5.85%
PM growth 5Y19.19%
GM growth 3Y1.4%
GM growth 5Y2.57%
F-Score9
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Debt/EBITDA 1.21
Cap/Depr 69.59%
Cap/Sales 3.42%
Interest Coverage 9.83
Cash Conversion 100.48%
Profit Quality 153.19%
Current Ratio 0.84
Quick Ratio 0.65
Altman-Z 1.95
F-Score9
WACC9.02%
ROIC/WACC1.41
Cap/Depr(3y)61.13%
Cap/Depr(5y)55.26%
Cap/Sales(3y)3.28%
Cap/Sales(5y)3.13%
Profit Quality(3y)125.43%
Profit Quality(5y)160.54%
High Growth Momentum
Growth
EPS 1Y (TTM)18.38%
EPS 3Y15.56%
EPS 5Y29.08%
EPS Q2Q%151.79%
EPS Next Y15.93%
EPS Next 2Y14.33%
EPS Next 3Y13.88%
EPS Next 5Y13.54%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%
Revenue Next Year7.44%
Revenue Next 2Y7.69%
Revenue Next 3Y7.84%
Revenue Next 5Y7.68%
EBIT growth 1Y22.11%
EBIT growth 3Y15.42%
EBIT growth 5Y19.8%
EBIT Next Year48.45%
EBIT Next 3Y20.67%
EBIT Next 5Y15.25%
FCF growth 1Y35.3%
FCF growth 3Y3.31%
FCF growth 5Y14.95%
OCF growth 1Y31.87%
OCF growth 3Y5.11%
OCF growth 5Y14.92%

THALES SA / CSF.DE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for THALES SA?

ChartMill assigns a fundamental rating of 5 / 10 to CSF.DE.


What is the valuation status for CSF stock?

ChartMill assigns a valuation rating of 4 / 10 to THALES SA (CSF.DE). This can be considered as Fairly Valued.


Can you provide the profitability details for THALES SA?

THALES SA (CSF.DE) has a profitability rating of 7 / 10.


What is the valuation of THALES SA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for THALES SA (CSF.DE) is 31.38 and the Price/Book (PB) ratio is 6.59.


Can you provide the expected EPS growth for CSF stock?

The Earnings per Share (EPS) of THALES SA (CSF.DE) is expected to grow by 15.93% in the next year.