Dassault Aviation société anonyme Past Earnings Performance
Past criteria checks 1/6
Dassault Aviation société anonyme has been growing earnings at an average annual rate of 14.2%, while the Aerospace & Defense industry saw earnings growing at 12.6% annually. Revenues have been growing at an average rate of 0.5% per year. Dassault Aviation société anonyme's return on equity is 14.7%, and it has net margins of 12.9%.
Key information
14.25%
Earnings growth rate
15.83%
EPS growth rate
| Aerospace & Defense Industry Growth | 6.10% |
| Revenue growth rate | 0.48% |
| Return on equity | 14.67% |
| Net Margin | 12.91% |
| Next Earnings Update | 22 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 01
AM: Spaceplane And Business Jet Programs Will Support Future Earnings Trajectory
Analysts have lifted their price target on Dassault Aviation société anonyme from €378.66 to €420.00. They cited updated assumptions that pair a slightly higher discount rate with adjusted expectations for revenue growth, profit margins and future P/E levels.
Narrative Update • May 04
AM: Future Aircraft Deliveries And Dividend Policy Will Support Bullish Repricing
Analysts have made a small upward adjustment to their price target for Dassault Aviation société anonyme, with fair value moving from about €355.94 to roughly €357.12 as they fine tune assumptions around discount rate, revenue growth, profit margin and future P/E levels. What's in the News Falcon 10X business jet rolled out as Dassault Aviation's most ambitious model, featuring a large cabin, all composite wing, NeXus flight deck and third generation digital flight controls.
Narrative Update • Apr 20
AM: Updated Discount Assumptions And Execution Risks Will Shape Future Return Potential
Analysts have raised their price target on Dassault Aviation société anonyme by €10, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E as the key drivers of the revised view. Analyst Commentary While the higher price target signals some confidence in Dassault Aviation société anonyme, not all commentary is upbeat.Narrative Update • Apr 06
AM: Heterogenous Defense Outlook And Execution On Guidance Will Shape Fairly Valued Shares
Narrative Update The updated analyst price target for Dassault Aviation société anonyme moves higher to €355.94 from €348.29, reflecting recent target increases from several banks and analyst assumptions of slightly stronger revenue growth, profit margins, and a modestly higher future P/E multiple. Analyst Commentary Street research on Dassault Aviation société anonyme in recent weeks has been mixed, with several price target increases alongside at least one downgrade in rating.Narrative Update • Mar 22
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.Narrative Update • Mar 08
AM: Heterogenous Defense Outlook And Guidance Shifts Will Shape Fairly Valued Shares
Narrative Update The analyst price target for Dassault Aviation société anonyme has been raised from about €325.06 to roughly €348.29. Analysts attribute this change to a series of recent target increases from Jefferies, Citi, and Berenberg, along with updated assumptions on discount rate, revenue growth, profit margin, and future P/E.Narrative Update • Feb 22
AM: Market Perform Downgrade And Execution Risks Will Pressure Future Returns
Analysts have nudged their price targets for Dassault Aviation société anonyme higher, with recent increases of €10 and €29, and a move to €310. These changes are based on finely tuned assumptions on discount rate, revenue growth, profit margin and future P/E, while incorporating a more mixed sector view reflected in a downgrade to Market Perform.Narrative Update • Feb 08
AM: Raised Sales Guidance And Execution Risks Will Pressure Future Returns
Analysts have inched their fair value estimate for Dassault Aviation société anonyme higher to €271.90, supported by recent price target increases at several firms and updated assumptions around discount rate, revenue, profit margin, and future P/E. Analyst Commentary Recent Street research on Dassault Aviation société anonyme shows that, while some firms have adjusted price targets higher, there is also a clear pocket of caution emerging.Narrative Update • Jan 24
AM: Raised Guidance And Sector Rerating Concerns Will Pressure Future Returns
Analysts have lifted their price targets on Dassault Aviation société anonyme, with fair value estimates moving from about €243 to €272, citing updated assumptions on discount rates, profit margins and future P/E. At the same time, recent research includes both higher target prices and a rating downgrade that points to more mixed expectations for European defense shares into 2026.Narrative Update • Jan 09
AM: Execution On Defense Programs Will Support Future Earnings Trajectory
Analysts trimmed their price target on Dassault Aviation société anonyme from about €383 to roughly €379, citing a more cautious stance on European defense names and a shift in preference toward larger local champions with broader portfolios. Analyst Commentary Recent commentary around Dassault Aviation société anonyme reflects a more cautious tone on European defense, with some experts expecting share performance across the sector to be more mixed this year.Narrative Update • Dec 14
AM: Rising Defense Demand Will Support Stronger Earnings Trajectory
Analysts have modestly trimmed their price target on Dassault Aviation société anonyme to approximately EUR 383 from about EUR 384. This reflects slightly higher discount-rate assumptions, even as they acknowledge improving revenue growth prospects, stronger profit margins, and a normalization in future valuation multiples.Narrative Update • Nov 30
AM: European Defense Rearmament Will Sustain Momentum Despite Civil Aviation Risks
Analysts have raised their price target for Dassault Aviation société anonyme to €325 from €324. This reflects modest upward adjustments to profit margin forecasts and fair value, despite sector concerns around civil ramp dynamics and overall selective sentiment toward high valuations.Narrative Update • Nov 16
AM: European Defense Upside Will Drive Near-Term Performance Despite Civil Headwinds
Analysts have modestly increased their price target for Dassault Aviation société anonyme from €280 to €325. This reflects ongoing strength in the European defense sector, despite concerns about civil ramp delivery and valuations.Narrative Update • Nov 01
AM European Defense Spending Will Drive Medium Term Expansion Beyond Civil Uncertainty
The consensus analyst price target for Dassault Aviation société anonyme has increased from €280 to €325. This reflects analysts' views on the company's position within the current defense sector renewal, despite ongoing concerns about civil segment growth and stock valuation levels.Narrative Update • Oct 18
International Defense Orders And Business Jets Will Expand Global Presence
Analysts have revised their price target for Dassault Aviation société anonyme upward from €280 to €325. This reflects cautious optimism amid sector-wide growth and concerns regarding civil segment execution.Narrative Update • Oct 04
International Defense Orders And Business Jets Will Expand Global Presence
The average analyst price target for Dassault Aviation société anonyme has been revised slightly downward from €329 to €324.07. This change reflects concerns over valuation and civil segment ramp-up cited in recent analyst reports.Narrative Update • Sep 16
International Defense Orders And Business Jets Will Expand Global Presence
Analysts raised Dassault Aviation’s price target to €329.00, citing strong order momentum, sustained Rafale production rates, and the increasing value of its Thales stake as drivers of improved fundamentals and long-term outlook. Analyst Commentary Strong order momentum has led to a significant increase in backlog, supporting higher valuation expectations.Analysis Article • Aug 20
Does Dassault Aviation société anonyme (EPA:AM) Have A Healthy Balance Sheet?
ENXTPA:AM 1 Year Share Price vs Fair Value Explore Dassault Aviation société anonyme's Fair Values from the Community...Analysis Article • Jul 25
Analysts Have Made A Financial Statement On Dassault Aviation société anonyme's (EPA:AM) Interim Report
Shareholders might have noticed that Dassault Aviation société anonyme ( EPA:AM ) filed its half-yearly result this...Analysis Article • Jun 26
Investors Still Waiting For A Pull Back In Dassault Aviation société anonyme (EPA:AM)
Dassault Aviation société anonyme's ( EPA:AM ) price-to-earnings (or "P/E") ratio of 25.1x might make it look like a...New Narrative • Jun 22
Defense Contracts And Aviation Partnerships Will Secure Competitive Edge
Strong global defense demand and innovative upgrades to Rafale jets secure stable revenue and margin growth for Dassault.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Dassault Aviation société anonyme makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 7,572 | 977 | 1,709 | 0 |
| 30 Sep 25 | 7,150 | 880 | 1,698 | 0 |
| 30 Jun 25 | 6,728 | 782 | 1,688 | 0 |
| 31 Mar 25 | 6,564 | 853 | 1,667 | 0 |
| 31 Dec 24 | 6,401 | 924 | 1,647 | 0 |
| 30 Sep 24 | 5,799 | 866 | 1,599 | 0 |
| 30 Jun 24 | 5,197 | 808 | 1,552 | 0 |
| 31 Mar 24 | 5,081 | 751 | 1,510 | 0 |
| 31 Dec 23 | 4,964 | 693 | 1,469 | 0 |
| 30 Sep 23 | 5,631 | 750 | 1,449 | 0 |
| 30 Jun 23 | 6,298 | 806 | 1,429 | 0 |
| 31 Mar 23 | 6,683 | 761 | 1,415 | 0 |
| 31 Dec 22 | 7,067 | 716 | 1,401 | 0 |
| 30 Sep 22 | 7,201 | 691 | 1,367 | 0 |
| 30 Jun 22 | 7,334 | 665 | 1,333 | 0 |
| 31 Mar 22 | 7,326 | 635 | 1,305 | 0 |
| 31 Dec 21 | 7,318 | 605 | 1,276 | 0 |
| 30 Sep 21 | 6,635 | 544 | 1,280 | 0 |
| 30 Jun 21 | 5,953 | 483 | 1,284 | 0 |
| 31 Mar 21 | 5,726 | 393 | 1,245 | 0 |
| 31 Dec 20 | 5,499 | 303 | 1,206 | 0 |
| 30 Sep 20 | 6,225 | 397 | 1,237 | 0 |
| 30 Jun 20 | 6,952 | 491 | 1,268 | 0 |
| 31 Mar 20 | 7,164 | 602 | 1,285 | 0 |
| 31 Dec 19 | 7,376 | 713 | 1,303 | 0 |
| 30 Sep 19 | 6,935 | 707 | 1,270 | 0 |
| 30 Jun 19 | 6,493 | 702 | 1,238 | 0 |
| 31 Mar 19 | 5,806 | 637 | 1,221 | 0 |
| 31 Dec 18 | 5,119 | 573 | 1,205 | 0 |
| 30 Sep 18 | 4,828 | 485 | 1,172 | 0 |
| 30 Jun 18 | 4,536 | 398 | 1,139 | 0 |
| 31 Mar 18 | 4,719 | 514 | 1,141 | 0 |
| 31 Dec 17 | 4,901 | 630 | 1,143 | 0 |
| 30 Sep 17 | 4,495 | 564 | 1,159 | 0 |
| 30 Jun 17 | 4,090 | 498 | 1,174 | 0 |
| 31 Mar 17 | 3,878 | 438 | 1,175 | 0 |
| 31 Dec 16 | 3,666 | 379 | 1,175 | 0 |
| 30 Sep 16 | 3,918 | 446 | 1,178 | 0 |
| 30 Jun 16 | 4,170 | 512 | 1,182 | 0 |
| 31 Mar 16 | 4,177 | 327 | 1,175 | 0 |
| 31 Dec 15 | 4,183 | 141 | 1,168 | 0 |
| 30 Sep 15 | 4,012 | 39 | 1,144 | 0 |
| 30 Jun 15 | 3,841 | -63 | 1,120 | 0 |
Quality Earnings: AM has a large one-off gain of €230.6M impacting its last 12 months of financial results to 31st December, 2025.
Growing Profit Margin: AM's current net profit margins (12.9%) are lower than last year (14.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: AM's earnings have grown by 14.2% per year over the past 5 years.
Accelerating Growth: AM's earnings growth over the past year (5.8%) is below its 5-year average (14.2% per year).
Earnings vs Industry: AM earnings growth over the past year (5.8%) did not outperform the Aerospace & Defense industry 41.6%.
Return on Equity
High ROE: AM's Return on Equity (14.7%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 20:41 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Dassault Aviation société anonyme is covered by 23 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| George Mcwhirter | Berenberg |
| Douglas Harned | Bernstein |
| Adrien Rabier | Bernstein |