Thales S.A. provides various solutions for customers in the aeronautics, space, defense, security, and ground transportation markets worldwide.
Outstanding track record, good value and pays a dividend.
Share Price & News
How has Thales's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CSF has not had significant price volatility in the past 3 months.
7 Day Return
DE Aerospace & Defense
1 Year Return
DE Aerospace & Defense
Return vs Industry: CSF underperformed the German Aerospace & Defense industry which returned 7.6% over the past year.
Return vs Market: CSF underperformed the German Market which returned 6.1% over the past year.
Price Volatility Vs. Market
How volatile is Thales's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Thales undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CSF (€93.5) is trading below our estimate of fair value (€133.92)
Significantly Below Fair Value: CSF is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CSF is good value based on its PE Ratio (17.9x) compared to the Aerospace & Defense industry average (22.9x).
PE vs Market: CSF is good value based on its PE Ratio (17.9x) compared to the German market (20.2x).
Price to Earnings Growth Ratio
PEG Ratio: CSF is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: CSF is overvalued based on its PB Ratio (3.8x) compared to the XE Aerospace & Defense industry average (2.1x).
How is Thales forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CSF's forecast earnings growth (9% per year) is above the savings rate (-0.4%).
Earnings vs Market: CSF's earnings (9% per year) are forecast to grow slower than the German market (13% per year).
High Growth Earnings: CSF's earnings are forecast to grow, but not significantly.
Revenue vs Market: CSF's revenue (4.4% per year) is forecast to grow slower than the German market (5.1% per year).
High Growth Revenue: CSF's revenue (4.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CSF's Return on Equity is forecast to be high in 3 years time (20.1%)
How has Thales performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CSF has high quality earnings.
Growing Profit Margin: CSF's current net profit margins (6.5%) are higher than last year (5.4%).
Past Earnings Growth Analysis
Earnings Trend: CSF's earnings have grown by 6.9% per year over the past 5 years.
Accelerating Growth: CSF's earnings growth over the past year (29.1%) exceeds its 5-year average (6.9% per year).
Earnings vs Industry: CSF earnings growth over the past year (29.1%) exceeded the Aerospace & Defense industry 12.4%.
Return on Equity
High ROE: CSF's Return on Equity (20.6%) is considered high.
How is Thales's financial position?
Financial Position Analysis
Short Term Liabilities: CSF's short term assets (€15.7B) do not cover its short term liabilities (€17.5B).
Long Term Liabilities: CSF's short term assets (€15.7B) exceed its long term liabilities (€7.9B).
Debt to Equity History and Analysis
Debt Level: CSF's debt to equity ratio (98.8%) is considered high.
Reducing Debt: CSF's debt to equity ratio has increased from 37.9% to 98.8% over the past 5 years.
Debt Coverage: CSF's debt is not well covered by operating cash flow (19.7%).
Interest Coverage: CSF's interest payments on its debt are well covered by EBIT (67.7x coverage).
Inventory Level: CSF has a high level of physical assets or inventory.
Debt Coverage by Assets: CSF's debt is covered by short term assets (assets are 2.9x debt).
What is Thales's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CSF's dividend (2.28%) is higher than the bottom 25% of dividend payers in the German market (1.43%).
High Dividend: CSF's dividend (2.28%) is low compared to the top 25% of dividend payers in the German market (3.8%).
Stability and Growth of Payments
Stable Dividend: CSF's dividend payments have been volatile in the past 10 years.
Growing Dividend: CSF's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.1%), CSF's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CSF's dividends in 3 years are forecast to be well covered by earnings (37.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Patrice Caine (49yo)
Mr. Patrice Caine has been the Chairman and Chief Executive Officer of Thales SA since December 23, 2014. In 2002, Mr. Caine joined the Thales Group's Strategy department before being appointed to manage t ...
CEO Compensation Analysis
Compensation vs Market: Patrice's total compensation ($USD2.09M) is below average for companies of similar size in the German market ($USD4.53M).
Compensation vs Earnings: Patrice's compensation has been consistent with company performance over the past year.
|Chairman & CEO||5.2yrs||€1.93m||0.0044% €854.7k|
|CFO and Senior Executive VP of Finance & Information Systems||0yrs||no data||no data|
|Senior Executive VP||0yrs||no data||no data|
|Head of Group Treasury & Corporate Finance and Vice President||4yrs||no data||no data|
|Executive Vice President of Strategy||4.1yrs||no data||no data|
|Head of Investor Relations & VP||4yrs||no data||no data|
|Executive VP||4.8yrs||no data||no data|
|Chief Marketing Officer & Senior VP||5.4yrs||no data||no data|
|Senior Executive Vice President of Human Resources||6.7yrs||no data||no data|
|Senior Executive Vice President of International Development||13.1yrs||no data||no data|
Experienced Management: CSF's management team is seasoned and experienced (5 years average tenure).
|Chairman & CEO||5.2yrs||€1.93m||0.0044% €854.7k|
|Independent Director||10.8yrs||€45.49k||0.00024% €46.5k|
|Independent Director||7.8yrs||€30.99k||0.00024% €46.5k|
|Independent Director||7.8yrs||€45.49k||0.00029% €56.2k|
|Non-Executive Director||5.8yrs||€28.23k||0.00054% €104.7k|
Experienced Board: CSF's board of directors are considered experienced (9.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Thales S.A.'s company bio, employee growth, exchange listings and data sources
- Name: Thales S.A.
- Ticker: CSF
- Exchange: DB
- Founded: 1893
- Industry: Aerospace and Defense
- Sector: Capital Goods
- Market Cap: €19.381b
- Shares outstanding: 212.65m
- Website: https://www.thalesgroup.com/en
Number of Employees
- Thales S.A.
- Tour Carpe Diem
- 31 Place des Corolles
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|THLE.F||OTCPK (Pink Sheets LLC)||Yes||Common Stock||US||USD||Jan 1992|
|HO||ENXTPA (Euronext Paris)||Yes||Common Stock||FR||EUR||Jan 1992|
|CSF||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1992|
|0IW5||LSE (London Stock Exchange)||Yes||Common Stock||GB||EUR||Jan 1992|
|HOP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Common Stock||GB||EUR||Jan 1992|
|CSF||ETLX (Eurotlx)||Yes||Common Stock||IT||EUR||Jan 1992|
|THLL.Y||OTCPK (Pink Sheets LLC)||UNSPONSORD ADR||US||USD||Jan 2018|
Thales S.A. provides various solutions for customers in the aeronautics, space, defense, security, and ground transportation markets worldwide. The company operates through Aerospace, Transport, and Defence and Security segments. It offers communications, command, and control systems; mission services and support; protection and mission/combat systems; surveillance, and intelligence systems; and training and simulation solutions for air, land, naval, and joint forces, as well as digital security solutions. The company also provides air traffic management solutions; flight decks and avionics equipment and functions; flight avionics; IFE and connectivity systems and services; electrical systems; aerospace training solutions; navigation solutions; and support and services for avionics equipment. In addition, it designs, operates, and delivers satellite-based systems for telecommunications, earth observation, science and space exploration, navigation, and orbital infrastructure and space transport; and signaling systems, supervision and communications systems, revenue collection systems, and related services for ground transportation. Further, the company provides solutions for various markets and applications, including radiology, radio frequency, microwave sources, training and simulation solutions, lasers, and microelectronics solutions for science, industry, space, defense, automotive, railways, and energy conversion platforms. The company was formerly known as Thomson-CSF and changed its name to Thales S.A. in 2000. Thales S.A. was founded in 1893 and is headquartered in Paris, France.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/25 20:46|
|End of Day Share Price||2020/02/25 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.