THEON INTERNATIONAL PLC (THEON.AS) Stock Fundamental Analysis

AMS:THEON • CY0200751713

31.7 EUR
+0.55 (+1.77%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to THEON. THEON was compared to 53 industry peers in the Aerospace & Defense industry. THEON scores excellent points on both the profitability and health parts. This is a solid base for a good stock. THEON is valued quite expensively, but it does show have an excellent growth rating. This makes THEON very considerable for growth and quality investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • THEON had positive earnings in the past year.
  • THEON had a negative operating cash flow in the past year.
  • THEON had positive earnings in each of the past 5 years.
  • In multiple years THEON reported negative operating cash flow during the last 5 years.
THEON.AS Yearly Net Income VS EBIT VS OCF VS FCFTHEON.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 20M -20M 40M 60M 80M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 17.09%, THEON belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • THEON has a Return On Equity of 29.89%. This is amongst the best in the industry. THEON outperforms 84.31% of its industry peers.
  • THEON's Return On Invested Capital of 22.97% is amongst the best of the industry. THEON outperforms 100.00% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for THEON is significantly above the industry average of 9.18%.
  • The last Return On Invested Capital (22.97%) for THEON is well below the 3 year average (30.61%), which needs to be investigated, but indicates that THEON had better years and this may not be a problem.
Industry RankSector Rank
ROA 17.09%
ROE 29.89%
ROIC 22.97%
ROA(3y)18.12%
ROA(5y)19.46%
ROE(3y)41.15%
ROE(5y)46.12%
ROIC(3y)30.61%
ROIC(5y)30.69%
THEON.AS Yearly ROA, ROE, ROICTHEON.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 10 20 30 40 50

1.3 Margins

  • THEON has a Profit Margin of 19.04%. This is amongst the best in the industry. THEON outperforms 96.08% of its industry peers.
  • In the last couple of years the Profit Margin of THEON has declined.
  • With an excellent Operating Margin value of 24.74%, THEON belongs to the best of the industry, outperforming 98.04% of the companies in the same industry.
  • THEON's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 30.99%, THEON is in line with its industry, outperforming 58.82% of the companies in the same industry.
  • THEON's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 24.74%
PM (TTM) 19.04%
GM 30.99%
OM growth 3Y-7.66%
OM growth 5YN/A
PM growth 3Y-6.84%
PM growth 5YN/A
GM growth 3Y-9.46%
GM growth 5YN/A
THEON.AS Yearly Profit, Operating, Gross MarginsTHEON.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), THEON is creating value.
  • Compared to 1 year ago, THEON has more shares outstanding
  • THEON has a better debt/assets ratio than last year.
THEON.AS Yearly Shares OutstandingTHEON.AS Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 20M 40M 60M
THEON.AS Yearly Total Debt VS Total AssetsTHEON.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • THEON has an Altman-Z score of 12.01. This indicates that THEON is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 12.01, THEON belongs to the best of the industry, outperforming 92.16% of the companies in the same industry.
  • THEON has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
  • THEON's Debt to Equity ratio of 0.21 is amongst the best of the industry. THEON outperforms 86.27% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF N/A
Altman-Z 12.01
ROIC/WACC2.4
WACC9.57%
THEON.AS Yearly LT Debt VS Equity VS FCFTHEON.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

2.3 Liquidity

  • A Current Ratio of 3.08 indicates that THEON has no problem at all paying its short term obligations.
  • THEON's Current ratio of 3.08 is amongst the best of the industry. THEON outperforms 94.12% of its industry peers.
  • A Quick Ratio of 2.38 indicates that THEON has no problem at all paying its short term obligations.
  • THEON's Quick ratio of 2.38 is amongst the best of the industry. THEON outperforms 94.12% of its industry peers.
Industry RankSector Rank
Current Ratio 3.08
Quick Ratio 2.38
THEON.AS Yearly Current Assets VS Current LiabilitesTHEON.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

9

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 62.03% over the past year.
  • Measured over the past years, THEON shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -78.58% on average per year.
  • THEON shows a strong growth in Revenue. In the last year, the Revenue has grown by 61.10%.
  • Measured over the past years, THEON shows a very strong growth in Revenue. The Revenue has been growing by 63.54% on average per year.
EPS 1Y (TTM)62.03%
EPS 3Y-78.58%
EPS 5YN/A
EPS Q2Q%N/A
Revenue 1Y (TTM)61.1%
Revenue growth 3Y63.54%
Revenue growth 5YN/A
Sales Q2Q%N/A

3.2 Future

  • THEON is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.02% yearly.
  • THEON is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 23.89% yearly.
EPS Next Y22.45%
EPS Next 2Y24.57%
EPS Next 3Y22.02%
EPS Next 5YN/A
Revenue Next Year34.03%
Revenue Next 2Y33.05%
Revenue Next 3Y28.22%
Revenue Next 5Y23.89%

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.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
THEON.AS Yearly Revenue VS EstimatesTHEON.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M
THEON.AS Yearly EPS VS EstimatesTHEON.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 0.5 1 1.5

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3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 33.72 indicates a quite expensive valuation of THEON.
  • 76.47% of the companies in the same industry are more expensive than THEON, based on the Price/Earnings ratio.
  • THEON's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 26.99.
  • Based on the Price/Forward Earnings ratio of 27.48, the valuation of THEON can be described as expensive.
  • Based on the Price/Forward Earnings ratio, THEON is valued a bit cheaper than the industry average as 62.75% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. THEON is around the same levels.
Industry RankSector Rank
PE 33.72
Fwd PE 27.48
THEON.AS Price Earnings VS Forward Price EarningsTHEON.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • THEON's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 27.01
THEON.AS Per share dataTHEON.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of THEON may justify a higher PE ratio.
  • A more expensive valuation may be justified as THEON's earnings are expected to grow with 22.02% in the coming years.
PEG (NY)1.5
PEG (5Y)N/A
EPS Next 2Y24.57%
EPS Next 3Y22.02%

More info and screens

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

3

5. Dividend

5.1 Amount

  • THEON has a Yearly Dividend Yield of 1.25%.
  • THEON's Dividend Yield is a higher than the industry average which is at 0.77.
  • THEON's Dividend Yield is slightly below the S&P500 average, which is at 1.81.
Industry RankSector Rank
Dividend Yield 1.25%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
THEON.AS Yearly Dividends per shareTHEON.AS Yearly Dividends per shareYearly Dividends per share 2024 2025 0.1 0.2 0.3

5.3 Sustainability

  • 21.53% of the earnings are spent on dividend by THEON. This is a low number and sustainable payout ratio.
DP21.53%
EPS Next 2Y24.57%
EPS Next 3Y22.02%
THEON.AS Yearly Income VS Free CF VS DividendTHEON.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2020 2021 2022 2023 2024 0 20M -20M 40M 60M
THEON.AS Dividend Payout.THEON.AS Dividend Payout, showing the Payout Ratio.THEON.AS Dividend Payout.PayoutRetained Earnings

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THEON INTERNATIONAL PLC

AMS:THEON (2/20/2026, 7:00:00 PM)

31.7

+0.55 (+1.77%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)11-03
Earnings (Next)02-16
Inst Owners9.73%
Inst Owner ChangeN/A
Ins Owners59.22%
Ins Owner ChangeN/A
Market Cap2.49B
Revenue(TTM)352.36M
Net Income(TTM)67.07M
Analysts76.67
Price Target35.7 (12.62%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.25%
Yearly Dividend0.21
Dividend Growth(5Y)N/A
DP21.53%
Div Incr Years0
Div Non Decr Years0
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)2.09%
PT rev (3m)3.18%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.86%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.41%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.1%
Valuation
Industry RankSector Rank
PE 33.72
Fwd PE 27.48
P/S 7.07
P/FCF N/A
P/OCF N/A
P/B 11.11
P/tB 12.32
EV/EBITDA 27.01
EPS(TTM)0.94
EY2.97%
EPS(NY)1.15
Fwd EY3.64%
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)-0.33
OCFYN/A
SpS4.48
BVpS2.85
TBVpS2.57
PEG (NY)1.5
PEG (5Y)N/A
Graham Number7.77
Profitability
Industry RankSector Rank
ROA 17.09%
ROE 29.89%
ROCE 30.6%
ROIC 22.97%
ROICexc 39.17%
ROICexgc 45.15%
OM 24.74%
PM (TTM) 19.04%
GM 30.99%
FCFM N/A
ROA(3y)18.12%
ROA(5y)19.46%
ROE(3y)41.15%
ROE(5y)46.12%
ROIC(3y)30.61%
ROIC(5y)30.69%
ROICexc(3y)57.81%
ROICexc(5y)58.31%
ROICexgc(3y)61.02%
ROICexgc(5y)60.82%
ROCE(3y)46.73%
ROCE(5y)49.65%
ROICexgc growth 3Y-15.89%
ROICexgc growth 5YN/A
ROICexc growth 3Y-19.22%
ROICexc growth 5YN/A
OM growth 3Y-7.66%
OM growth 5YN/A
PM growth 3Y-6.84%
PM growth 5YN/A
GM growth 3Y-9.46%
GM growth 5YN/A
F-Score3
Asset Turnover0.9
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF N/A
Debt/EBITDA 0.53
Cap/Depr 439.46%
Cap/Sales 3.04%
Interest Coverage 25.1
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.08
Quick Ratio 2.38
Altman-Z 12.01
F-Score3
WACC9.57%
ROIC/WACC2.4
Cap/Depr(3y)434.71%
Cap/Depr(5y)347.8%
Cap/Sales(3y)3.06%
Cap/Sales(5y)3.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)62.03%
EPS 3Y-78.58%
EPS 5YN/A
EPS Q2Q%N/A
EPS Next Y22.45%
EPS Next 2Y24.57%
EPS Next 3Y22.02%
EPS Next 5YN/A
Revenue 1Y (TTM)61.1%
Revenue growth 3Y63.54%
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year34.03%
Revenue Next 2Y33.05%
Revenue Next 3Y28.22%
Revenue Next 5Y23.89%
EBIT growth 1Y57.06%
EBIT growth 3Y51.02%
EBIT growth 5YN/A
EBIT Next Year32.67%
EBIT Next 3Y28.43%
EBIT Next 5Y23.45%
FCF growth 1Y-222.36%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-169.3%
OCF growth 3YN/A
OCF growth 5YN/A

THEON INTERNATIONAL PLC / THEON.AS FAQ

What is the fundamental rating for THEON stock?

ChartMill assigns a fundamental rating of 7 / 10 to THEON.AS.


What is the valuation status for THEON stock?

ChartMill assigns a valuation rating of 3 / 10 to THEON INTERNATIONAL PLC (THEON.AS). This can be considered as Overvalued.


Can you provide the profitability details for THEON INTERNATIONAL PLC?

THEON INTERNATIONAL PLC (THEON.AS) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for THEON stock?

The Price/Earnings (PE) ratio for THEON INTERNATIONAL PLC (THEON.AS) is 33.72 and the Price/Book (PB) ratio is 11.11.


What is the earnings growth outlook for THEON INTERNATIONAL PLC?

The Earnings per Share (EPS) of THEON INTERNATIONAL PLC (THEON.AS) is expected to grow by 22.45% in the next year.