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THEON INTERNATIONAL PLC (THEON.AS) Stock Fundamental Analysis

Europe - AMS:THEON - CY0200751713 - Common Stock

27.75 EUR
+1.4 (+5.31%)
Last: 9/12/2025, 5:29:55 PM
Fundamental Rating

7

THEON gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 41 industry peers in the Aerospace & Defense industry. THEON has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. THEON is growing strongly while it is still valued neutral. This is a good combination! These ratings could make THEON a good candidate for growth and quality investing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

THEON had positive earnings in the past year.
In the past year THEON has reported a negative cash flow from operations.
In the past 5 years THEON has always been profitable.
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

THEON's Return On Assets of 17.18% is amongst the best of the industry. THEON outperforms 100.00% of its industry peers.
With an excellent Return On Equity value of 30.05%, THEON belongs to the best of the industry, outperforming 90.24% of the companies in the same industry.
The Return On Invested Capital of THEON (23.07%) is better than 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 9.46%.
The 3 year average ROIC (30.61%) for THEON is well above the current ROIC(23.07%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 17.18%
ROE 30.05%
ROIC 23.07%
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

With an excellent Profit Margin value of 19.13%, THEON belongs to the best of the industry, outperforming 97.56% of the companies in the same industry.
THEON's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 24.84%, THEON belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Operating Margin of THEON has declined.
THEON has a Gross Margin (30.99%) which is in line with its industry peers.
THEON's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 24.84%
PM (TTM) 19.13%
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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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.
The number of shares outstanding for THEON has been increased compared to 1 year ago.
Compared to 1 year ago, THEON has an improved debt to assets ratio.
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 9.70. This indicates that THEON is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 9.70, THEON belongs to the top of the industry, outperforming 97.56% of the companies in the same industry.
A Debt/Equity ratio of 0.21 indicates that THEON is not too dependend on debt financing.
THEON has a Debt to Equity ratio of 0.21. This is amongst the best in the industry. THEON outperforms 90.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF N/A
Altman-Z 9.7
ROIC/WACC2.7
WACC8.53%
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

THEON has a Current Ratio of 3.08. This indicates that THEON is financially healthy and has no problem in meeting its short term obligations.
THEON has a better Current ratio (3.08) than 97.56% of its industry peers.
A Quick Ratio of 2.38 indicates that THEON has no problem at all paying its short term obligations.
The Quick ratio of THEON (2.38) is better than 97.56% 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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9

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 62.03% over the past year.
THEON shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -78.29% yearly.
Looking at the last year, THEON shows a very strong growth in Revenue. 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-78.29%
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 21.16% 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 Y21.95%
EPS Next 2Y22.54%
EPS Next 3Y21.16%
EPS Next 5YN/A
Revenue Next Year30.62%
Revenue Next 2Y27.05%
Revenue Next 3Y23.89%
Revenue Next 5YN/A

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 estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in 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 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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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 28.32, THEON can be considered very expensive at the moment.
85.37% of the companies in the same industry are more expensive than THEON, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.43, THEON is valued at the same level.
A Price/Forward Earnings ratio of 23.22 indicates a rather expensive valuation of THEON.
70.73% of the companies in the same industry are more expensive than THEON, based on the Price/Forward Earnings ratio.
THEON's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.87.
Industry RankSector Rank
PE 28.32
Fwd PE 23.22
THEON.AS Price Earnings VS Forward Price EarningsTHEON.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

THEON's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.71
THEON.AS Per share dataTHEON.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4 5

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
THEON has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as THEON's earnings are expected to grow with 21.16% in the coming years.
PEG (NY)1.29
PEG (5Y)N/A
EPS Next 2Y22.54%
EPS Next 3Y21.16%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.40%, THEON has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 1.19, THEON pays a bit more dividend than its industry peers.
With a Dividend Yield of 1.40, THEON pays less dividend than the S&P500 average, which is at 2.45.
Industry RankSector Rank
Dividend Yield 1.4%

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

21.42% of the earnings are spent on dividend by THEON. This is a low number and sustainable payout ratio.
DP21.42%
EPS Next 2Y22.54%
EPS Next 3Y21.16%
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 (9/12/2025, 5:29:55 PM)

27.75

+1.4 (+5.31%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)09-02 2025-09-02
Earnings (Next)11-03 2025-11-03
Inst Owners9.44%
Inst Owner ChangeN/A
Ins Owners74.95%
Ins Owner ChangeN/A
Market Cap1.94B
Analysts80
Price Target30.73 (10.74%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.4%
Yearly Dividend0.22
Dividend Growth(5Y)N/A
DP21.42%
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)2.48%
PT rev (3m)3.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.32%
EPS NY rev (1m)3.72%
EPS NY rev (3m)3.72%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.41%
Revenue NY rev (1m)0.45%
Revenue NY rev (3m)0.45%
Valuation
Industry RankSector Rank
PE 28.32
Fwd PE 23.22
P/S 5.51
P/FCF N/A
P/OCF N/A
P/B 8.66
P/tB 9.6
EV/EBITDA 19.71
EPS(TTM)0.98
EY3.53%
EPS(NY)1.19
Fwd EY4.31%
FCF(TTM)-0.53
FCFYN/A
OCF(TTM)-0.37
OCFYN/A
SpS5.03
BVpS3.21
TBVpS2.89
PEG (NY)1.29
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.18%
ROE 30.05%
ROCE 30.72%
ROIC 23.07%
ROICexc 39.33%
ROICexgc 45.33%
OM 24.84%
PM (TTM) 19.13%
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%
ROICexcg growth 3Y-15.89%
ROICexcg 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-Score4
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 25.2
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.08
Quick Ratio 2.38
Altman-Z 9.7
F-Score4
WACC8.53%
ROIC/WACC2.7
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-78.29%
EPS 5YN/A
EPS Q2Q%N/A
EPS Next Y21.95%
EPS Next 2Y22.54%
EPS Next 3Y21.16%
EPS Next 5YN/A
Revenue 1Y (TTM)61.1%
Revenue growth 3Y63.54%
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year30.62%
Revenue Next 2Y27.05%
Revenue Next 3Y23.89%
Revenue Next 5YN/A
EBIT growth 1Y57.06%
EBIT growth 3Y51.02%
EBIT growth 5YN/A
EBIT Next Year26.4%
EBIT Next 3Y23.51%
EBIT Next 5YN/A
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