THALES SA (CSF.DE) Fundamental Analysis & Valuation

FRA:CSF • FR0000121329

Current stock price

265 EUR
-3.1 (-1.16%)
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.
  • CSF had a positive operating cash flow in each of the past 5 years.
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 fine compared to the rest of the industry. CSF outperforms 62.50% of its industry peers.
  • The Return On Equity of CSF (21.01%) is better than 75.00% of its industry peers.
  • CSF's Return On Invested Capital of 12.72% is amongst the best of the industry. CSF outperforms 82.14% 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

  • CSF has a Profit Margin of 7.56%. This is in the better half of the industry: CSF outperforms 67.86% of its industry peers.
  • In the last couple of years the Profit Margin of CSF has grown nicely.
  • CSF's Operating Margin of 10.02% is fine compared to the rest of the industry. CSF outperforms 62.50% of its industry peers.
  • CSF's Operating Margin has improved in the last couple of years.
  • CSF has a Gross Margin (26.44%) which is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of CSF has grown nicely.
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

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), CSF 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 2.00. 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.
  • With a Altman-Z score value of 2.00, CSF is not doing good in the industry: 64.29% of the companies in the same industry are doing better.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 2.39, CSF is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • CSF has a Debt/Equity ratio of 0.50. This is a neutral value indicating CSF is somewhat dependend on debt financing.
  • CSF has a Debt to Equity ratio of 0.50. This is comparable to the rest of the industry: CSF outperforms 48.21% of its industry peers.
  • 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 2
ROIC/WACC1.5
WACC8.47%
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.
  • Looking at the Current ratio, with a value of 0.84, CSF is doing worse than 87.50% of the companies in the same industry.
  • A Quick Ratio of 0.65 indicates that CSF may have some problems paying its short term obligations.
  • CSF has a worse Quick ratio (0.65) than 71.43% 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. CSF.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 18.38% over the past year.
  • Measured over the past years, CSF shows a quite strong growth in Earnings Per Share. The EPS has been growing by 17.27% on average per year.
  • CSF shows a small growth in Revenue. In the last year, the Revenue has grown by 7.58%.
  • Measured over the past years, CSF shows a small growth in Revenue. The Revenue has been growing by 7.57% on average per year.
EPS 1Y (TTM)18.38%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.79%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.38% on average over the next years. This is quite good.
  • CSF is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.68% yearly.
EPS Next Y15.13%
EPS Next 2Y13.94%
EPS Next 3Y13.62%
EPS Next 5Y13.38%
Revenue Next Year7.89%
Revenue Next 2Y7.85%
Revenue Next 3Y8.09%
Revenue Next 5Y7.68%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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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5

4. CSF.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 27.15, which means the current valuation is very expensive for CSF.
  • Compared to the rest of the industry, the Price/Earnings ratio of CSF indicates a rather cheap valuation: CSF is cheaper than 82.14% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.21, CSF is valued at the same level.
  • With a Price/Forward Earnings ratio of 23.58, CSF is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, CSF is valued cheaply inside the industry as 80.36% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.10, CSF is valued at the same level.
Industry RankSector Rank
PE 27.15
Fwd PE 23.58
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 80 100

4.2 Price Multiples

  • 73.21% of the companies in the same industry are more expensive than CSF, based on the Enterprise Value to EBITDA ratio.
  • CSF's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CSF is cheaper than 87.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.28
EV/EBITDA 16.98
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 PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • CSF has a very decent profitability rating, which may justify a higher PE ratio.
  • CSF's earnings are expected to grow with 13.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.79
PEG (5Y)1.57
EPS Next 2Y13.94%
EPS Next 3Y13.62%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. CSF.DE Dividend Analysis

5.1 Amount

  • CSF has a Yearly Dividend Yield of 1.64%. Purely for dividend investing, there may be better candidates out there.
  • CSF's Dividend Yield is rather good when compared to the industry average which is at 0.77. CSF pays more dividend than 87.50% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, CSF has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.64%

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 Years1
Div Non Decr Years1
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

  • 46.62% of the earnings are spent on dividend by CSF. 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 2Y13.94%
EPS Next 3Y13.62%
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 (4/7/2026, 7:00:00 PM)

265

-3.1 (-1.16%)

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 Cap54.57B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts78.62
Price Target292.43 (10.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.64%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP46.62%
Div Incr Years1
Div Non Decr Years1
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%
PT rev (3m)3.12%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.65%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.42%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 27.15
Fwd PE 23.58
P/S 2.47
P/FCF 21.28
P/OCF 16.43
P/B 6.85
P/tB N/A
EV/EBITDA 16.98
EPS(TTM)9.76
EY3.68%
EPS(NY)11.24
Fwd EY4.24%
FCF(TTM)12.46
FCFY4.7%
OCF(TTM)16.13
OCFY6.09%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.79
PEG (5Y)1.57
Graham Number92.18
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 2
F-Score9
WACC8.47%
ROIC/WACC1.5
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 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.79%
EPS Next Y15.13%
EPS Next 2Y13.94%
EPS Next 3Y13.62%
EPS Next 5Y13.38%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%
Revenue Next Year7.89%
Revenue Next 2Y7.85%
Revenue Next 3Y8.09%
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.


Can you provide the valuation status for THALES SA?

ChartMill assigns a valuation rating of 5 / 10 to THALES SA (CSF.DE). This can be considered as Fairly Valued.


What is the profitability of CSF stock?

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


What is the financial health of THALES SA (CSF.DE) stock?

The financial health rating of THALES SA (CSF.DE) is 3 / 10.


How sustainable is the dividend of THALES SA (CSF.DE) stock?

The dividend rating of THALES SA (CSF.DE) is 6 / 10 and the dividend payout ratio is 46.62%.