THEON INTERNATIONAL PLC (THEON.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:THEON • CY0200751713

31.15 EUR
-0.55 (-1.74%)
Last: Jan 30, 2026, 07:00 PM
Fundamental Rating

7

Overall THEON gets a fundamental rating of 7 out of 10. We evaluated THEON against 53 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 valued quite expensively, but it does show have an excellent growth rating. These ratings could make THEON a good candidate 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.
  • In the past year THEON has reported a negative cash flow from operations.
  • 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

  • The Return On Assets of THEON (17.09%) is better than 100.00% of its industry peers.
  • THEON has a Return On Equity of 29.89%. This is amongst the best in the industry. THEON outperforms 83.02% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 22.97%, THEON belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for THEON is significantly above the industry average of 9.39%.
  • The 3 year average ROIC (30.61%) for THEON is well above the current ROIC(22.97%). The reason for the recent decline needs to be investigated.
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

  • Looking at the Profit Margin, with a value of 19.04%, THEON belongs to the top of the industry, outperforming 98.11% of the companies in the same industry.
  • THEON's Profit Margin has declined in the last couple of years.
  • With an excellent Operating Margin value of 24.74%, THEON belongs to the best of the industry, outperforming 96.23% of the companies in the same industry.
  • THEON's Operating Margin has declined in the last couple of years.
  • With a Gross Margin value of 30.99%, THEON perfoms like the industry average, outperforming 56.60% 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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7

2. Health

2.1 Basic Checks

  • THEON has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • Compared to 1 year ago, THEON has more shares outstanding
  • 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 11.86. 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 11.86, THEON belongs to the top of the industry, outperforming 94.34% 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's Debt to Equity ratio of 0.21 is amongst the best of the industry. THEON outperforms 86.79% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF N/A
Altman-Z 11.86
ROIC/WACC2.31
WACC9.95%
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's Current ratio of 3.08 is amongst the best of the industry. THEON outperforms 92.45% of its industry peers.
  • THEON has a Quick Ratio of 2.38. This indicates that THEON is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 2.38, THEON belongs to the top of the industry, outperforming 90.57% of the companies in the same industry.
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.
  • 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%.
  • THEON shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 63.54% yearly.
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.
  • Based on estimates for the next years, THEON will show a very strong growth in Revenue. The Revenue will grow by 23.89% on average per year.
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.
  • 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 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 33.14 indicates a quite expensive valuation of THEON.
  • Compared to the rest of the industry, the Price/Earnings ratio of THEON indicates a somewhat cheap valuation: THEON is cheaper than 71.70% of the companies listed in the same industry.
  • THEON is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.32, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 27.00, THEON can be considered very expensive at the moment.
  • Based on the Price/Forward Earnings ratio, THEON is valued a bit cheaper than the industry average as 66.04% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 25.57. THEON is around the same levels.
Industry RankSector Rank
PE 33.14
Fwd PE 27
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 80 100

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 26.53
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.
  • THEON has a very decent profitability rating, which may justify a higher PE ratio.
  • THEON's earnings are expected to grow with 22.02% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.48
PEG (5Y)N/A
EPS Next 2Y24.57%
EPS Next 3Y22.02%

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3

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.07%, THEON has a reasonable but not impressive dividend return.
  • THEON's Dividend Yield is a higher than the industry average which is at 0.74.
  • Compared to an average S&P500 Dividend Yield of 1.83, THEON's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.07%

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

  • THEON pays out 21.53% of its income as dividend. This is a 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 / 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 33.14 and the Price/Book (PB) ratio is 10.92.


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.