THALES SA (CSF.DE) Stock Fundamental Analysis

FRA:CSF • FR0000121329

261 EUR
-0.6 (-0.23%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Taking everything into account, CSF scores 5 out of 10 in our fundamental rating. CSF was compared to 53 industry peers in the Aerospace & Defense industry. There are concerns on the financial health of CSF while its profitability can be described as average. CSF is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

6

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.
  • Each year in the past 5 years CSF has been profitable.
  • 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 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 2.74%, CSF is in line with its industry, outperforming 45.28% of the companies in the same industry.
  • CSF's Return On Equity of 14.93% is in line compared to the rest of the industry. CSF outperforms 56.60% of its industry peers.
  • CSF's Return On Invested Capital of 11.65% is fine compared to the rest of the industry. CSF outperforms 79.25% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for CSF is in line with the industry average of 9.18%.
  • The 3 year average ROIC (8.24%) for CSF is below the current ROIC(11.65%), indicating increased profibility in the last year.
Industry RankSector 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%
CSF.DE Yearly ROA, ROE, ROICCSF.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • CSF has a Profit Margin (4.99%) which is comparable to the rest of the industry.
  • CSF's Profit Margin has improved in the last couple of years.
  • CSF's Operating Margin of 9.24% is fine compared to the rest of the industry. CSF outperforms 60.38% of its industry peers.
  • CSF's Operating Margin has improved in the last couple of years.
  • CSF has a Gross Margin of 26.11%. This is comparable to the rest of the industry: CSF outperforms 56.60% of its industry peers.
  • CSF's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
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 5 10 15 20 25

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3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CSF is still creating some value.
  • CSF has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for CSF has been reduced compared to 5 years ago.
  • The debt/assets ratio for CSF has been reduced compared to a year ago.
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

  • Based on the Altman-Z score of 1.74, we must say that CSF is in the distress zone and has some risk of bankruptcy.
  • CSF has a worse Altman-Z score (1.74) than 75.47% of its industry peers.
  • The Debt to FCF ratio of CSF is 3.07, which is a good value as it means it would take CSF, 3.07 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of CSF (3.07) is better than 75.47% 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.
  • With a Debt to Equity ratio value of 0.56, CSF perfoms like the industry average, outperforming 41.51% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 3.07
Altman-Z 1.74
ROIC/WACC1.32
WACC8.81%
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 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 0.82 indicates that CSF may have some problems paying its short term obligations.
  • With a Current ratio value of 0.82, CSF is not doing good in the industry: 88.68% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.61 indicates that CSF may have some problems paying its short term obligations.
  • CSF has a worse Quick ratio (0.61) than 67.92% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.61
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. Growth

3.1 Past

  • The earnings per share for CSF have decreased strongly by -22.91% in the last year.
  • CSF shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.55% yearly.
  • Looking at the last year, CSF shows a quite strong growth in Revenue. The Revenue has grown by 11.16% in the last year.
  • 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 13.35% on average per year.
  • The Revenue is expected to grow by 8.05% on average over the next years. This is quite good.
EPS Next Y10.64%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
EPS Next 5Y13.35%
Revenue Next Year9.05%
Revenue Next 2Y8.19%
Revenue Next 3Y8.1%
Revenue Next 5Y8.05%

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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better 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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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 50.48 indicates a quite expensive valuation of CSF.
  • Compared to the rest of the industry, the Price/Earnings ratio of CSF is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 26.99, CSF is valued quite expensively.
  • With a Price/Forward Earnings ratio of 23.02, CSF is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, CSF is valued a bit cheaper than the industry average as 79.25% of the companies are valued more expensively.
  • CSF is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 50.48
Fwd PE 23.02
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 67.92% of the companies in the same industry.
  • CSF's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CSF is cheaper than 92.45% of the companies in the same industry.
Industry RankSector Rank
P/FCF 22.57
EV/EBITDA 18.39
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 an expensive valuation of the company.
  • CSF has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as CSF's earnings are expected to grow with 13.18% in the coming years.
PEG (NY)4.75
PEG (5Y)9.1
EPS Next 2Y13.45%
EPS Next 3Y13.18%

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

5

5. Dividend

5.1 Amount

  • CSF has a Yearly Dividend Yield of 1.54%.
  • CSF's Dividend Yield is a higher than the industry average which is at 0.77.
  • Compared to an average S&P500 Dividend Yield of 1.81, CSF has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.54%

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 0.2 0.4 0.6 0.8

5.3 Sustainability

  • CSF pays out 71.27% of its income as dividend. This is not a sustainable payout ratio.
  • CSF's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.27%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
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 500M 1B 1.5B 2B
CSF.DE Dividend Payout.CSF.DE Dividend Payout, showing the Payout Ratio.CSF.DE Dividend Payout.PayoutRetained Earnings

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THALES SA

FRA:CSF (2/20/2026, 7:00:00 PM)

261

-0.6 (-0.23%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)10-23
Earnings (Next)03-03
Inst Owners23.34%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap53.75B
Revenue(TTM)21.35B
Net Income(TTM)1.07B
Analysts77.86
Price Target291.39 (11.64%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.54%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP71.27%
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)2.75%
PT rev (3m)2.93%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.42%
EPS NY rev (3m)0.34%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 50.48
Fwd PE 23.02
P/S 2.52
P/FCF 22.57
P/OCF 17.65
P/B 7.53
P/tB N/A
EV/EBITDA 18.39
EPS(TTM)5.17
EY1.98%
EPS(NY)11.34
Fwd EY4.34%
FCF(TTM)11.57
FCFY4.43%
OCF(TTM)14.79
OCFY5.67%
SpS103.67
BVpS34.66
TBVpS-17.3
PEG (NY)4.75
PEG (5Y)9.1
Graham Number63.5
Profitability
Industry RankSector 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 11.16%
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%
ROICexgc growth 3YN/A
ROICexgc 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 RankSector Rank
Debt/Equity 0.56
Debt/FCF 3.07
Debt/EBITDA 1.3
Cap/Depr 58.15%
Cap/Sales 3.11%
Interest Coverage 8.81
Cash Conversion 97.82%
Profit Quality 223.49%
Current Ratio 0.82
Quick Ratio 0.61
Altman-Z 1.74
F-Score7
WACC8.81%
ROIC/WACC1.32
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 Y10.64%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
EPS Next 5Y13.35%
Revenue 1Y (TTM)11.16%
Revenue growth 3Y8.32%
Revenue growth 5Y2.26%
Sales Q2Q%8.14%
Revenue Next Year9.05%
Revenue Next 2Y8.19%
Revenue Next 3Y8.1%
Revenue Next 5Y8.05%
EBIT growth 1Y17.29%
EBIT growth 3Y13.73%
EBIT growth 5Y5.27%
EBIT Next Year51.54%
EBIT Next 3Y22%
EBIT Next 5Y15.38%
FCF growth 1Y47.72%
FCF growth 3Y-7.33%
FCF growth 5Y8.4%
OCF growth 1Y36.72%
OCF growth 3Y-3.84%
OCF growth 5Y7.31%

THALES SA / CSF.DE 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 6 / 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 50.48 and the Price/Book (PB) ratio is 7.53.


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 10.64% in the next year.