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French (CAC) Aerospace & Defense Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies15
  • 7D-4.3%
  • 3M-6.1%
  • 1Y4.5%
  • YTD-8.8%

Over the last 7 days, the Aerospace & Defense industry has dropped 5.9%, driven by a pullback from Safran of 6.3%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 8.9% per annum.

Industry Valuation and Performance

Has the French Aerospace & Defense Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026€334.9b€138.9b€15.2b32.9x22x2.4x
Thu, 19 Feb 2026€394.0b€136.1b€14.2b43.9x27.7x2.9x
Sat, 17 Jan 2026€392.4b€134.3b€11.3b41.9x34.6x2.9x
Mon, 15 Dec 2025€352.4b€134.3b€11.3b39.4x31x2.6x
Wed, 12 Nov 2025€375.1b€134.2b€11.4b42.2x33x2.8x
Fri, 10 Oct 2025€373.8b€132.1b€11.2b36x33.3x2.8x
Sun, 07 Sep 2025€337.0b€132.0b€11.2b31.5x30.2x2.6x
Tue, 05 Aug 2025€336.6b€132.0b€11.2b36.9x30.1x2.5x
Thu, 03 Jul 2025€329.3b€128.7b€5.8b36.4x57.1x2.6x
Sat, 31 May 2025€325.5b€128.7b€5.7b29.2x56.7x2.5x
Mon, 28 Apr 2025€287.1b€127.9b€5.5b26.2x51.8x2.2x
Wed, 26 Mar 2025€326.8b€127.8b€5.5b32.1x58.9x2.6x
Fri, 21 Feb 2025€297.0b€123.3b€4.5b28.2x66.7x2.4x
Sun, 19 Jan 2025€274.9b€121.4b€6.8b31.6x40.7x2.3x
Tue, 17 Dec 2024€262.9b€121.3b€6.7b29.7x39x2.2x
Thu, 14 Nov 2024€255.4b€120.6b€6.7b33.5x37.9x2.1x
Sat, 12 Oct 2024€242.2b€119.8b€6.6b31.1x36.9x2x
Mon, 09 Sep 2024€233.5b€119.8b€6.6b31.2x35.6x1.9x
Wed, 07 Aug 2024€236.0b€119.7b€6.6b31.3x36x2x
Fri, 05 Jul 2024€244.9b€116.5b€9.1b27.5x27x2.1x
Sun, 02 Jun 2024€267.7b€116.1b€9.0b28.6x29.6x2.3x
Tue, 30 Apr 2024€262.6b€116.1b€9.0b27.3x29.1x2.3x
Thu, 28 Mar 2024€276.1b€115.1b€8.9b26.8x31x2.4x
Sat, 24 Feb 2024€244.7b€115.8b€9.3b24.1x26.4x2.1x
Mon, 22 Jan 2024€235.0b€112.0b€9.2b23.7x25.5x2.1x
Wed, 20 Dec 2023€225.2b€112.0b€9.2b23x24.4x2x
Fri, 17 Nov 2023€218.3b€112.1b€9.2b24.6x23.7x1.9x
Sun, 15 Oct 2023€209.0b€110.5b€9.1b24.9x23x1.9x
Tue, 12 Sep 2023€217.1b€110.5b€9.1b26.6x23.9x2x
Thu, 10 Aug 2023€214.9b€110.5b€9.1b25.6x23.7x1.9x
Sat, 08 Jul 2023€208.3b€105.2b€2.9b24.9x70.8x2x
Mon, 05 Jun 2023€206.7b€105.1b€2.9b25.1x70.5x2x
Wed, 03 May 2023€205.8b€105.4b€3.7b23.7x56.1x2x
Fri, 31 Mar 2023€203.3b€105.3b€3.7b22.7x55.3x1.9x
Price to Earnings Ratio

55.3x


Total Market Cap: €203.3bTotal Earnings: €3.7bTotal Revenue: €105.3bTotal Market Cap vs Earnings and Revenue0%0%0%
French Aerospace & Defense Industry Price to Earnings3Y Average 38.5x202420252026
Current Industry PE
  • Investors are pessimistic on the French Aerospace & Defense industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.7x which is lower than its 3-year average PE of 38.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 60% per year over the last three years.
  • Revenues for these companies have grown 9.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the French Industrials industry?

FR Market-3.02%
Industrials-2.89%
Aerospace & Defense-4.34%
Aerospace and Defense-4.34%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MLHK H&K€35.803.5%
+€42.6m		-77.6%PE37.4x
FII Lisi€50.401.1%
+€25.1m		68.3%PE36.4x
FGA Figeac Aero Société Anonyme€9.783.6%
+€15.0m		2.1%PS1x
MLUAV Embention Sistemas Inteligentes€43.804.3%
+€10.8m		143.3%PE54.8x
EXA Exail Technologies€138.600.4%
+€10.2m		315.0%PE789.4x

Latest News

EXA
€138.60
Exail Technologies
7D
0.4%
1Y
315.0%
AM
€323.00
Dassault Aviation société anonyme
7D
-6.7%
1Y
4.0%

AM: Mixed Rating Shifts And Execution Demands Will Shape Future Return Potential

Analysts have lifted the fair value estimate for Dassault Aviation société anonyme to €300 from about €271.90, reflecting updated assumptions on discount rate, revenue growth, profit margins, and a slightly higher future P/E. This is in line with recent upward shifts in Street price targets from firms such as Jefferies, Citi, and Berenberg, and is offset in part by a more cautious stance from Bernstein.
SAF
€287.30
Safran
7D
-6.3%
1Y
14.5%

SAF: Revised P/E And Dividend Policy Will Support Future Earnings Resilience

Analysts have raised their price target on Safran to €342, an increase of €67 from €275, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E that feed into a slightly higher fair value estimate of €357.77. Analyst Commentary Recent research points to a higher price target of €342, with a fair value estimate of €357.77 sitting slightly above that level.
FII
€50.40
Lisi
7D
1.1%
1Y
68.3%
AIR
€166.40
Airbus
7D
-2.1%
1Y
-0.5%

AIR: Delivery Constraints And Defense Expansion Will Shape Balanced Future Upside Potential

Narrative Update The updated analyst price target for Airbus has risen by €12.81, with analysts pointing to improving A320 deliveries, a ramping defense business, and mixed yet generally supportive revisions to price targets across the Street. Analyst Commentary Recent Street research on Airbus reflects a mixed backdrop, with some upgrades and supportive commentary on deliveries and defense, alongside several cautious moves on ratings and price targets.
ALSOG
€35.00
Sogeclair
7D
0.9%
1Y
40.6%
EXENS
€63.10
Exosens
7D
-12.0%
1Y
89.7%

EXENS: Defense Contracts And New Shareholder Support Will Underpin Measured Outlook

Exosens' analyst price target has been revised higher to €64.83 from €51.33, reflecting updated assumptions on revenue growth, profit margins, and future P/E in line with recent price target increases from several banks including JPMorgan, Deutsche Bank, Citi, and Berenberg. Analyst Commentary Recent research shows a cluster of higher price targets on Exosens, with JPMorgan at the upper end and several other banks setting targets in a similar range.
HO
€239.10
Thales
7D
-4.3%
1Y
-2.3%

HO: Defense Exposure And Margin Gains Will Support Stronger Medium Term Earnings Power

Analysts have lifted their average price target on Thales to about €356 from roughly €338, reflecting a slightly higher fair value view even as they balance stronger defence and margin expectations with more cautious assumptions for revenue growth and interest costs. Analyst Commentary Recent research shows a mix of views on Thales, with some firms becoming more cautious on execution in certain divisions, while others highlight what they see as attractive defence exposure and scope for improved returns.
ALNSE
€48.20
NSE
7D
-3.4%
1Y
5.7%
MLUAV
€43.80
Embention Sistemas Inteligentes
7D
4.3%
1Y
143.3%
ALTD
€0.033
Tonner Drones
7D
-3.0%
1Y
93.5%
MLHK
€35.80
H&K
7D
3.5%
1Y
-77.6%
FGA
€9.78
Figeac Aero Société Anonyme
7D
3.6%
1Y
2.1%

Returns On Capital Are Showing Encouraging Signs At Figeac Aero Société Anonyme (EPA:FGA)

Feb 13
Returns On Capital Are Showing Encouraging Signs At Figeac Aero Société Anonyme (EPA:FGA)
ALODY
€27.60
Odyssee Technologies
7D
-4.7%
1Y
55.1%

Odyssee Technologies (EPA:ALODY) Shareholders Will Want The ROCE Trajectory To Continue

Feb 03
Odyssee Technologies (EPA:ALODY) Shareholders Will Want The ROCE Trajectory To Continue
LAT
€0.017
Latécoère
7D
0.6%
1Y
-5.6%

Even With A 26% Surge, Cautious Investors Are Not Rewarding Latécoère S.A.'s (EPA:LAT) Performance Completely

Jan 03
Even With A 26% Surge, Cautious Investors Are Not Rewarding Latécoère S.A.'s (EPA:LAT) Performance Completely