THALES SA (HO.PA) Fundamental Analysis & Valuation

EPA:HO • FR0000121329

Current stock price

233.9 EUR
+3.8 (+1.65%)
Last:

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

7

1. HO.PA Profitability Analysis

1.1 Basic Checks

  • HO had positive earnings in the past year.
  • HO had a positive operating cash flow in the past year.
  • In the past 5 years HO has always been profitable.
  • Each year in the past 5 years HO had a positive operating cash flow.
HO.PA Yearly Net Income VS EBIT VS OCF VS FCFHO.PA 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

  • With a Return On Assets value of 4.28%, HO perfoms like the industry average, outperforming 58.93% of the companies in the same industry.
  • HO has a better Return On Equity (21.01%) than 71.43% of its industry peers.
  • HO has a better Return On Invested Capital (12.72%) than 76.79% of its industry peers.
  • HO had an Average Return On Invested Capital over the past 3 years of 9.54%. This is in line with the industry average of 9.92%.
  • The last Return On Invested Capital (12.72%) for HO is above the 3 year average (9.54%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROIC 12.72%
ROA(3y)3.49%
ROA(5y)3.41%
ROE(3y)18.3%
ROE(5y)17.46%
ROIC(3y)9.54%
ROIC(5y)8.66%
HO.PA Yearly ROA, ROE, ROICHO.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • The Profit Margin of HO (7.56%) is better than 62.50% of its industry peers.
  • HO's Profit Margin has improved in the last couple of years.
  • HO has a Operating Margin (10.02%) which is in line with its industry peers.
  • HO's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 26.44%, HO is in line with its industry, outperforming 41.07% of the companies in the same industry.
  • In the last couple of years the Gross Margin of HO 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%
HO.PA Yearly Profit, Operating, Gross MarginsHO.PA 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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4

2. HO.PA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HO is creating some value.
  • Compared to 1 year ago, HO has about the same amount of shares outstanding.
  • Compared to 5 years ago, HO has less shares outstanding
  • The debt/assets ratio for HO has been reduced compared to a year ago.
HO.PA Yearly Shares OutstandingHO.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
HO.PA Yearly Total Debt VS Total AssetsHO.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • HO has an Altman-Z score of 1.74. This is a bad value and indicates that HO is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.74, HO is doing worse than 76.79% of the companies in the same industry.
  • The Debt to FCF ratio of HO is 2.39, which is a good value as it means it would take HO, 2.39 years of fcf income to pay off all of its debts.
  • HO's Debt to FCF ratio of 2.39 is fine compared to the rest of the industry. HO outperforms 75.00% of its industry peers.
  • HO has a Debt/Equity ratio of 0.50. This is a neutral value indicating HO is somewhat dependend on debt financing.
  • HO has a Debt to Equity ratio (0.50) which is comparable to the rest of the industry.
  • Even though the debt/equity ratio score it not favorable for HO, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Altman-Z 1.74
ROIC/WACC1.62
WACC7.84%
HO.PA Yearly LT Debt VS Equity VS FCFHO.PA 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 HO may have some problems paying its short term obligations.
  • The Current ratio of HO (0.84) is worse than 91.07% of its industry peers.
  • A Quick Ratio of 0.65 indicates that HO may have some problems paying its short term obligations.
  • The Quick ratio of HO (0.65) is worse than 76.79% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.65
HO.PA Yearly Current Assets VS Current LiabilitesHO.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

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5

3. HO.PA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 18.40% over the past year.
  • The Earnings Per Share has been growing by 17.27% on average over the past years. This is quite good.
  • Looking at the last year, HO shows a small growth in Revenue. The Revenue has grown by 7.58% in the last year.
  • HO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.57% yearly.
EPS 1Y (TTM)18.4%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.84%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%

3.2 Future

  • HO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.41% yearly.
  • The Revenue is expected to grow by 7.54% on average over the next years.
EPS Next Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
EPS Next 5Y11.41%
Revenue Next Year7.99%
Revenue Next 2Y8.03%
Revenue Next 3Y8.21%
Revenue Next 5Y7.54%

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.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
HO.PA Yearly Revenue VS EstimatesHO.PA 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
HO.PA Yearly EPS VS EstimatesHO.PA 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. HO.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 23.97, which indicates a rather expensive current valuation of HO.
  • 87.50% of the companies in the same industry are more expensive than HO, based on the Price/Earnings ratio.
  • HO's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.64.
  • With a Price/Forward Earnings ratio of 21.14, HO is valued on the expensive side.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HO indicates a somewhat cheap valuation: HO is cheaper than 69.64% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 21.36. HO is around the same levels.
Industry RankSector Rank
PE 23.97
Fwd PE 21.14
HO.PA Price Earnings VS Forward Price EarningsHO.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • HO's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HO is cheaper than 76.79% of the companies in the same industry.
  • 91.07% of the companies in the same industry are more expensive than HO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 18.78
EV/EBITDA 15.04
HO.PA Per share dataHO.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

  • HO's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of HO may justify a higher PE ratio.
  • A more expensive valuation may be justified as HO's earnings are expected to grow with 13.07% in the coming years.
PEG (NY)1.79
PEG (5Y)1.39
EPS Next 2Y13.53%
EPS Next 3Y13.07%

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5

5. HO.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.67%, HO has a reasonable but not impressive dividend return.
  • HO's Dividend Yield is rather good when compared to the industry average which is at 0.89. HO pays more dividend than 83.93% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, HO has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.67%

5.2 History

  • On average, the dividend of HO grows each year by 56.89%, which is quite nice.
Dividend Growth(5Y)56.89%
Div Incr Years4
Div Non Decr Years4
HO.PA Yearly Dividends per shareHO.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • HO pays out 46.62% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • HO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP46.62%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
HO.PA Yearly Income VS Free CF VS DividendHO.PA 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
HO.PA Dividend Payout.HO.PA Dividend Payout, showing the Payout Ratio.HO.PA Dividend Payout.PayoutRetained Earnings

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HO.PA Fundamentals: All Metrics, Ratios and Statistics

THALES SA

EPA:HO (4/30/2026, 7:00:00 PM)

233.9

+3.8 (+1.65%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Industry Strength66.22
Industry Growth78.67
Earnings (Last)04-22
Earnings (Next)07-21
Inst Owners22.22%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap48.17B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts78.62
Price Target295.8 (26.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.67%
Yearly Dividend3.8
Dividend Growth(5Y)56.89%
DP46.62%
Div Incr Years4
Div Non Decr Years4
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)-0.92%
PT rev (3m)4.16%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.52%
EPS NY rev (3m)-2.4%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)0.65%
Valuation
Industry RankSector Rank
PE 23.97
Fwd PE 21.14
P/S 2.18
P/FCF 18.78
P/OCF 14.5
P/B 6.05
P/tB N/A
EV/EBITDA 15.04
EPS(TTM)9.76
EY4.17%
EPS(NY)11.07
Fwd EY4.73%
FCF(TTM)12.46
FCFY5.33%
OCF(TTM)16.13
OCFY6.9%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.79
PEG (5Y)1.39
Graham Number92.1789 (-60.59%)
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)3.49%
ROA(5y)3.41%
ROE(3y)18.3%
ROE(5y)17.46%
ROIC(3y)9.54%
ROIC(5y)8.66%
ROICexc(3y)13.3%
ROICexc(5y)12.54%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)13.33%
ROCE(5y)11.84%
ROICexgc growth 3Y151.11%
ROICexgc growth 5Y101.68%
ROICexc growth 3Y9.04%
ROICexc growth 5Y20.3%
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 1.74
F-Score9
WACC7.84%
ROIC/WACC1.62
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)18.4%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.84%
EPS Next Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
EPS Next 5Y11.41%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%
Revenue Next Year7.99%
Revenue Next 2Y8.03%
Revenue Next 3Y8.21%
Revenue Next 5Y7.54%
EBIT growth 1Y22.11%
EBIT growth 3Y15.42%
EBIT growth 5Y19.8%
EBIT Next Year48.37%
EBIT Next 3Y21.18%
EBIT Next 5Y14.1%
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 / HO.PA Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for THALES SA?

ChartMill assigns a fundamental rating of 5 / 10 to HO.PA.


Can you provide the valuation status for THALES SA?

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


What is the profitability of HO stock?

THALES SA (HO.PA) has a profitability rating of 7 / 10.


Can you provide the financial health for HO stock?

The financial health rating of THALES SA (HO.PA) is 4 / 10.


What is the expected EPS growth for THALES SA (HO.PA) stock?

The Earnings per Share (EPS) of THALES SA (HO.PA) is expected to grow by 13.38% in the next year.