THALES SA (CSF.DE) Stock Fundamental Analysis
Europe - FRA:CSF - FR0000121329 - Common Stock
252 EUR
-1.4 (-0.55%)
We assign a fundamental rating of 5 out of 10 to CSF. CSF was compared to 46 industry peers in the Aerospace & Defense industry. While CSF belongs to the best of the industry regarding profitability, there are concerns on its financial health. CSF has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
CSF had positive earnings in the past year.
In the past year CSF had a positive cash flow from operations.
In the past 5 years CSF has always been profitable.
Each year in the past 5 years CSF had a positive operating cash flow.
1.2 Ratios
CSF's Return On Assets of 2.74% is in line compared to the rest of the industry. CSF outperforms 43.48% of its industry peers.
Looking at the Return On Equity, with a value of 14.93%, CSF is in the better half of the industry, outperforming 63.04% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 11.65%, CSF belongs to the top of the industry, outperforming 80.43% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for CSF is in line with the industry average of 9.09%.
The last Return On Invested Capital (11.65%) for CSF is above the 3 year average (8.24%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.74% | ||
| ROE | 14.93% | ||
| ROIC | 11.65% |
ROA(3y)3.15%
ROA(5y)2.86%
ROE(3y)16.5%
ROE(5y)15.14%
ROIC(3y)8.24%
ROIC(5y)7.14%
1.3 Margins
CSF has a Profit Margin (4.99%) which is in line with its industry peers.
In the last couple of years the Profit Margin of CSF has grown nicely.
CSF's Operating Margin of 9.24% is fine compared to the rest of the industry. CSF outperforms 63.04% of its industry peers.
CSF's Operating Margin has improved in the last couple of years.
CSF's Gross Margin of 26.11% is in line compared to the rest of the industry. CSF outperforms 45.65% of its industry peers.
CSF's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.24% | ||
| PM (TTM) | 4.99% | ||
| GM | 26.11% |
OM growth 3Y5%
OM growth 5Y2.94%
PM growth 3Y0.86%
PM growth 5Y2.5%
GM growth 3Y1.59%
GM growth 5Y1.22%
2. Health
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.
The number of shares outstanding for CSF has been reduced compared to 1 year ago.
The number of shares outstanding for CSF has been reduced compared to 5 years ago.
CSF has a better debt/assets ratio than last year.
2.2 Solvency
CSF has an Altman-Z score of 1.71. This is a bad value and indicates that CSF is not financially healthy and even has some risk of bankruptcy.
CSF's Altman-Z score of 1.71 is on the low side compared to the rest of the industry. CSF is outperformed by 76.09% of its industry peers.
CSF has a debt to FCF ratio of 3.07. This is a good value and a sign of high solvency as CSF would need 3.07 years to pay back of all of its debts.
CSF's Debt to FCF ratio of 3.07 is fine compared to the rest of the industry. CSF outperforms 73.91% of its industry peers.
CSF has a Debt/Equity ratio of 0.56. This is a neutral value indicating CSF is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.56, CSF is in line with its industry, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 3.07 | ||
| Altman-Z | 1.71 |
ROIC/WACC1.6
WACC7.28%
2.3 Liquidity
A Current Ratio of 0.82 indicates that CSF may have some problems paying its short term obligations.
The Current ratio of CSF (0.82) is worse than 91.30% of its industry peers.
A Quick Ratio of 0.61 indicates that CSF may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.61, CSF is doing worse than 63.04% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.82 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
CSF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.91%.
Measured over the past 5 years, CSF shows a small growth in Earnings Per Share. The EPS has been growing by 5.55% on average per year.
The Revenue has grown by 11.16% in the past year. This is quite good.
Measured over the past years, CSF shows a small growth in Revenue. The Revenue has been growing by 2.26% on average per year.
EPS 1Y (TTM)-22.91%
EPS 3Y10.55%
EPS 5Y5.55%
EPS Q2Q%-34.49%
Revenue 1Y (TTM)11.16%
Revenue growth 3Y8.32%
Revenue growth 5Y2.26%
Sales Q2Q%8.14%
3.2 Future
Based on estimates for the next years, CSF will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.45% on average per year.
The Revenue is expected to grow by 9.00% on average over the next years. This is quite good.
EPS Next Y8.38%
EPS Next 2Y12.97%
EPS Next 3Y12.65%
EPS Next 5Y12.45%
Revenue Next Year8.88%
Revenue Next 2Y7.92%
Revenue Next 3Y7.92%
Revenue Next 5Y9%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 48.74, the valuation of CSF can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as CSF.
The average S&P500 Price/Earnings ratio is at 27.38. CSF is valued rather expensively when compared to this.
CSF is valuated rather expensively with a Price/Forward Earnings ratio of 22.42.
Based on the Price/Forward Earnings ratio, CSF is valued a bit cheaper than 71.74% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of CSF to the average of the S&P500 Index (22.86), we can say CSF is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.74 | ||
| Fwd PE | 22.42 |
4.2 Price Multiples
69.57% of the companies in the same industry are more expensive than CSF, based on the Enterprise Value to EBITDA ratio.
82.61% of the companies in the same industry are more expensive than CSF, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.8 | ||
| EV/EBITDA | 17.85 |
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.
A more expensive valuation may be justified as CSF's earnings are expected to grow with 12.65% in the coming years.
PEG (NY)5.82
PEG (5Y)8.79
EPS Next 2Y12.97%
EPS Next 3Y12.65%
5. Dividend
5.1 Amount
CSF has a Yearly Dividend Yield of 1.46%.
CSF's Dividend Yield is slightly below the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.46% |
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
5.3 Sustainability
71.25% of the earnings are spent on dividend by CSF. This is not a sustainable payout ratio.
The dividend of CSF is growing, but earnings are growing more, so the dividend growth is sustainable.
DP71.25%
EPS Next 2Y12.97%
EPS Next 3Y12.65%
FRA:CSF (9/19/2025, 7:00:00 PM)
252
-1.4 (-0.55%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)
Earnings (Next)
Inst Owners19.89%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap51.90B
Analysts78.4
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.46% |
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP71.25%
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)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.74 | ||
| Fwd PE | 22.42 | ||
| P/S | 2.43 | ||
| P/FCF | 21.8 | ||
| P/OCF | 17.05 | ||
| P/B | 7.27 | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.85 |
EPS(TTM)5.17
EY2.05%
EPS(NY)11.24
Fwd EY4.46%
FCF(TTM)11.56
FCFY4.59%
OCF(TTM)14.78
OCFY5.87%
SpS103.67
BVpS34.66
TBVpS-17.3
PEG (NY)5.82
PEG (5Y)8.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.74% | ||
| ROE | 14.93% | ||
| ROCE | 14.78% | ||
| ROIC | 11.65% | ||
| ROICexc | 16.44% | ||
| ROICexgc | N/A | ||
| OM | 9.24% | ||
| PM (TTM) | 4.99% | ||
| GM | 26.11% | ||
| FCFM | 11.15% |
ROA(3y)3.15%
ROA(5y)2.86%
ROE(3y)16.5%
ROE(5y)15.14%
ROIC(3y)8.24%
ROIC(5y)7.14%
ROICexc(3y)11.9%
ROICexc(5y)10.41%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)11.53%
ROCE(5y)9.88%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y8.3%
ROICexc growth 5Y6.21%
OM growth 3Y5%
OM growth 5Y2.94%
PM growth 3Y0.86%
PM growth 5Y2.5%
GM growth 3Y1.59%
GM growth 5Y1.22%
F-Score7
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 3.07 | ||
| Debt/EBITDA | 1.3 | ||
| Cap/Depr | 58.17% | ||
| Cap/Sales | 3.11% | ||
| Interest Coverage | 8.8 | ||
| Cash Conversion | 97.8% | ||
| Profit Quality | 223.37% | ||
| Current Ratio | 0.82 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | 1.71 |
F-Score7
WACC7.28%
ROIC/WACC1.6
Cap/Depr(3y)54.76%
Cap/Depr(5y)48.08%
Cap/Sales(3y)3.16%
Cap/Sales(5y)2.94%
Profit Quality(3y)143.57%
Profit Quality(5y)182.78%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.91%
EPS 3Y10.55%
EPS 5Y5.55%
EPS Q2Q%-34.49%
EPS Next Y8.38%
EPS Next 2Y12.97%
EPS Next 3Y12.65%
EPS Next 5Y12.45%
Revenue 1Y (TTM)11.16%
Revenue growth 3Y8.32%
Revenue growth 5Y2.26%
Sales Q2Q%8.14%
Revenue Next Year8.88%
Revenue Next 2Y7.92%
Revenue Next 3Y7.92%
Revenue Next 5Y9%
EBIT growth 1Y17.28%
EBIT growth 3Y13.73%
EBIT growth 5Y5.27%
EBIT Next Year48.13%
EBIT Next 3Y21.11%
EBIT Next 5Y15.64%
FCF growth 1Y47.67%
FCF growth 3Y-7.33%
FCF growth 5Y8.4%
OCF growth 1Y36.71%
OCF growth 3Y-3.84%
OCF growth 5Y7.31%