Thales S.A. provides various solutions for civilian and military customers in the aeronautics, space, defense, security, and ground transportation markets worldwide. More Details
Fair value with moderate growth potential.
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: HO has not had significant price volatility in the past 3 months.
7 Day Return
FR Aerospace & Defense
1 Year Return
FR Aerospace & Defense
Return vs Industry: HO exceeded the French Aerospace & Defense industry which returned -33.4% over the past year.
Return vs Market: HO underperformed the French Market which returned -7.5% 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
3 days ago | Simply Wall StIs Thales (EPA:HO) Using Too Much Debt?
2 weeks ago | Simply Wall StWhat Did Thales' (EPA:HO) CEO Take Home Last Year?
1 month ago | Simply Wall StTaking A Look At Thales S.A.'s (EPA:HO) ROE
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: HO (€62.64) is trading below our estimate of fair value (€108.87)
Significantly Below Fair Value: HO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HO is poor value based on its PE Ratio (21.1x) compared to the FR Aerospace & Defense industry average (18.9x).
PE vs Market: HO is poor value based on its PE Ratio (21.1x) compared to the French market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: HO is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: HO is overvalued based on its PB Ratio (2.8x) compared to the FR Aerospace & Defense industry average (1.4x).
How is Thales forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HO's forecast earnings growth (22.4% per year) is above the savings rate (0.6%).
Earnings vs Market: HO's earnings (22.4% per year) are forecast to grow slower than the French market (23.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: HO's revenue (5.2% per year) is forecast to grow slower than the French market (6.8% per year).
High Growth Revenue: HO's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HO's Return on Equity is forecast to be high in 3 years time (21.6%)
How has Thales performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HO has high quality earnings.
Growing Profit Margin: HO's current net profit margins (3.5%) are lower than last year (6.5%).
Past Earnings Growth Analysis
Earnings Trend: HO's earnings have grown by 5.7% per year over the past 5 years.
Accelerating Growth: HO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HO had negative earnings growth (-41.8%) over the past year, making it difficult to compare to the Aerospace & Defense industry average (-36%).
Return on Equity
High ROE: HO's Return on Equity (12.5%) is considered low.
How is Thales's financial position?
Financial Position Analysis
Short Term Liabilities: HO's short term assets (€16.6B) do not cover its short term liabilities (€17.3B).
Long Term Liabilities: HO's short term assets (€16.6B) exceed its long term liabilities (€9.3B).
Debt to Equity History and Analysis
Debt Level: HO's debt to equity ratio (115%) is considered high.
Reducing Debt: HO's debt to equity ratio has increased from 33.5% to 115% over the past 5 years.
Debt Coverage: HO's debt is well covered by operating cash flow (27.9%).
Interest Coverage: HO's interest payments on its debt are well covered by EBIT (16.1x coverage).
What is Thales's current dividend yield, its reliability and sustainability?
Forecast Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: Unable to evaluate HO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate HO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if HO's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if HO's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: HO is not paying a notable dividend for the French market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of HO's dividend in 3 years as they are not forecast to pay a notable one for the French market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Patrice Caine (50 yo)
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 ($USD2.88M) is about average for companies of similar size in the French market ($USD4.01M).
Compensation vs Earnings: Patrice's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Chairman & CEO||5.83yrs||€2.43m||0.0044% |
|CFO and Senior Executive VP of Finance & Information Systems||no data||no data||no data|
|Senior Executive VP||0.67yr||no data||no data|
|Head of Group Treasury & Corporate Finance and Vice President||4.67yrs||no data||no data|
|Executive Vice President of Strategy||4.75yrs||no data||no data|
|Head of Investor Relations & VP||4.67yrs||no data||no data|
|Executive VP||5.5yrs||no data||no data|
|Chief Marketing Officer & Senior VP||6.08yrs||no data||no data|
|Senior Executive Vice President of Human Resources||7.33yrs||no data||no data|
|Senior Executive Vice President of International Development||13.75yrs||no data||no data|
|Executive Vice-President of Secure Communications and Information Systems||11.75yrs||no data||no data|
|Executive Vice President of Europe & International Operations||10.5yrs||no data||no data|
Experienced Management: HO's management team is seasoned and experienced (5.8 years average tenure).
|Chairman & CEO||5.83yrs||€2.43m||0.0044% |
|Independent Director||8.42yrs||€25.70k||0.00024% |
|Independent Director||8.42yrs||€43.95k||0.00029% |
|Non-Executive Director||6.42yrs||€26.10k||0.00057% |
|Employee Representative Director||3.83yrs||€48.20k||0.000010% |
|Employee Representative Director||3.83yrs||€39.45k||0.00017% |
|Independent Director||3.33yrs||€35.70k||0.00024% |
Experienced Board: HO's board of directors are considered experienced (7.8 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: HO
- Exchange: ENXTPA
- Founded: 1893
- Industry: Aerospace and Defense
- Sector: Capital Goods
- Market Cap: €13.322b
- Shares outstanding: 212.68m
- Website: https://www.thalesgroup.com/en
Number of Employees
- Thales S.A.
- Tour Carpe Diem
- 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|
|THAL||WBAG (Wiener Boerse AG)||Yes||Common Stock||AT||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 civilian and military customers in the aeronautics, space, defense, security, and ground transportation markets worldwide. It operates through Aerospace, Transpor ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/22 21:59|
|End of Day Share Price||2020/10/22 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.