THALES SA (HO.PA) Fundamental Analysis & Valuation

EPA:HO • FR0000121329

Current stock price

267.9 EUR
-2.4 (-0.89%)
Last:

This HO.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. HO.PA Profitability Analysis

1.1 Basic Checks

  • HO had positive earnings in the past year.
  • In the past year HO had a positive cash flow from operations.
  • HO had positive earnings in each of the past 5 years.
  • In the past 5 years HO always reported a positive cash flow from operatings.
HO.PA Yearly Net Income VS EBIT VS OCF VS FCFHO.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

1.2 Ratios

  • HO has a better Return On Assets (4.28%) than 64.29% of its industry peers.
  • With a decent Return On Equity value of 21.01%, HO is doing good in the industry, outperforming 76.79% of the companies in the same industry.
  • HO has a better Return On Invested Capital (12.72%) than 83.93% of its industry peers.
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROIC 12.72%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
HO.PA Yearly ROA, ROE, ROICHO.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 7.56%, HO is in the better half of the industry, outperforming 69.64% of the companies in the same industry.
  • HO's Profit Margin has improved in the last couple of years.
  • HO has a Operating Margin of 10.02%. This is in the better half of the industry: HO outperforms 64.29% of its industry peers.
  • HO's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 26.44%, HO is in line with its industry, outperforming 53.57% of the companies in the same industry.
  • In the last couple of years the Gross Margin of HO has grown nicely.
Industry RankSector Rank
OM 10.02%
PM (TTM) 7.56%
GM 26.44%
OM growth 3Y6.86%
OM growth 5Y11.37%
PM growth 3Y5.85%
PM growth 5Y19.19%
GM growth 3Y1.4%
GM growth 5Y2.57%
HO.PA Yearly Profit, Operating, Gross MarginsHO.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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3

2. HO.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HO is still creating some value.
  • There is no outstanding debt for HO. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
HO.PA Yearly Shares OutstandingHO.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
HO.PA Yearly Total Debt VS Total AssetsHO.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • An Altman-Z score of 2.02 indicates that HO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • HO's Altman-Z score of 2.02 is on the low side compared to the rest of the industry. HO is outperformed by 66.07% of its industry peers.
  • HO has a debt to FCF ratio of 2.39. This is a good value and a sign of high solvency as HO would need 2.39 years to pay back of all of its debts.
  • HO has a Debt to FCF ratio of 2.39. This is in the better half of the industry: HO outperforms 76.79% of its industry peers.
  • HO has a Debt/Equity ratio of 0.50. This is a neutral value indicating HO is somewhat dependend on debt financing.
  • HO has a Debt to Equity ratio of 0.50. This is comparable to the rest of the industry: HO outperforms 50.00% of its industry peers.
  • Even though the debt/equity ratio score it not favorable for HO, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Altman-Z 2.02
ROIC/WACC1.5
WACC8.46%
HO.PA Yearly LT Debt VS Equity VS FCFHO.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 0.84 indicates that HO may have some problems paying its short term obligations.
  • HO has a worse Current ratio (0.84) than 85.71% of its industry peers.
  • A Quick Ratio of 0.65 indicates that HO may have some problems paying its short term obligations.
  • HO's Quick ratio of 0.65 is on the low side compared to the rest of the industry. HO is outperformed by 69.64% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.65
HO.PA Yearly Current Assets VS Current LiabilitesHO.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

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5

3. HO.PA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 18.38% over the past year.
  • Measured over the past years, HO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 17.27% on average per year.
  • The Revenue has been growing slightly by 7.58% in the past year.
  • Measured over the past years, HO shows a small growth in Revenue. The Revenue has been growing by 7.57% on average per year.
EPS 1Y (TTM)18.38%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.79%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.38% on average over the next years. This is quite good.
  • Based on estimates for the next years, HO will show a small growth in Revenue. The Revenue will grow by 7.68% on average per year.
EPS Next Y15.13%
EPS Next 2Y13.94%
EPS Next 3Y13.62%
EPS Next 5Y13.38%
Revenue Next Year7.89%
Revenue Next 2Y7.85%
Revenue Next 3Y8.09%
Revenue Next 5Y7.68%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
HO.PA Yearly Revenue VS EstimatesHO.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
HO.PA Yearly EPS VS EstimatesHO.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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5

4. HO.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • HO is valuated quite expensively with a Price/Earnings ratio of 27.45.
  • Based on the Price/Earnings ratio, HO is valued cheaply inside the industry as 83.93% of the companies are valued more expensively.
  • HO is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.91, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 23.84, HO is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, HO is valued cheaply inside the industry as 82.14% of the companies are valued more expensively.
  • HO's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.69.
Industry RankSector Rank
PE 27.45
Fwd PE 23.84
HO.PA Price Earnings VS Forward Price EarningsHO.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, HO is valued a bit cheaper than the industry average as 73.21% of the companies are valued more expensively.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of HO indicates a rather cheap valuation: HO is cheaper than 89.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 21.51
EV/EBITDA 17.31
HO.PA Per share dataHO.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates HO does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of HO may justify a higher PE ratio.
  • A more expensive valuation may be justified as HO's earnings are expected to grow with 13.62% in the coming years.
PEG (NY)1.81
PEG (5Y)1.59
EPS Next 2Y13.94%
EPS Next 3Y13.62%

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6

5. HO.PA Dividend Analysis

5.1 Amount

  • HO has a Yearly Dividend Yield of 1.64%. Purely for dividend investing, there may be better candidates out there.
  • HO's Dividend Yield is rather good when compared to the industry average which is at 0.77. HO pays more dividend than 85.71% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, HO has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.64%

5.2 History

  • On average, the dividend of HO grows each year by 9.56%, which is quite nice.
Dividend Growth(5Y)9.56%
Div Incr Years4
Div Non Decr Years4
HO.PA Yearly Dividends per shareHO.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 46.62% of the earnings are spent on dividend by HO. This is a bit on the high side, but may be sustainable.
  • HO's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP46.62%
EPS Next 2Y13.94%
EPS Next 3Y13.62%
HO.PA Yearly Income VS Free CF VS DividendHO.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B
HO.PA Dividend Payout.HO.PA Dividend Payout, showing the Payout Ratio.HO.PA Dividend Payout.PayoutRetained Earnings

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HO.PA Fundamentals: All Metrics, Ratios and Statistics

THALES SA

EPA:HO (4/9/2026, 10:03:51 AM)

267.9

-2.4 (-0.89%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)03-03
Earnings (Next)04-22
Inst Owners22.9%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap55.17B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts78.62
Price Target298.56 (11.44%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.64%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP46.62%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.62%
PT rev (3m)5.83%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.65%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.42%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 27.45
Fwd PE 23.84
P/S 2.49
P/FCF 21.51
P/OCF 16.61
P/B 6.92
P/tB N/A
EV/EBITDA 17.31
EPS(TTM)9.76
EY3.64%
EPS(NY)11.24
Fwd EY4.19%
FCF(TTM)12.46
FCFY4.65%
OCF(TTM)16.13
OCFY6.02%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.81
PEG (5Y)1.59
Graham Number92.18
Profitability
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROCE 15.94%
ROIC 12.72%
ROICexc 18.82%
ROICexgc N/A
OM 10.02%
PM (TTM) 7.56%
GM 26.44%
FCFM 11.59%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y6.86%
OM growth 5Y11.37%
PM growth 3Y5.85%
PM growth 5Y19.19%
GM growth 3Y1.4%
GM growth 5Y2.57%
F-Score9
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Debt/EBITDA 1.21
Cap/Depr 69.59%
Cap/Sales 3.42%
Interest Coverage 9.83
Cash Conversion 100.48%
Profit Quality 153.19%
Current Ratio 0.84
Quick Ratio 0.65
Altman-Z 2.02
F-Score9
WACC8.46%
ROIC/WACC1.5
Cap/Depr(3y)61.13%
Cap/Depr(5y)55.26%
Cap/Sales(3y)3.28%
Cap/Sales(5y)3.13%
Profit Quality(3y)125.43%
Profit Quality(5y)160.54%
High Growth Momentum
Growth
EPS 1Y (TTM)18.38%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.79%
EPS Next Y15.13%
EPS Next 2Y13.94%
EPS Next 3Y13.62%
EPS Next 5Y13.38%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%
Revenue Next Year7.89%
Revenue Next 2Y7.85%
Revenue Next 3Y8.09%
Revenue Next 5Y7.68%
EBIT growth 1Y22.11%
EBIT growth 3Y15.42%
EBIT growth 5Y19.8%
EBIT Next Year48.45%
EBIT Next 3Y20.67%
EBIT Next 5Y15.25%
FCF growth 1Y35.3%
FCF growth 3Y3.31%
FCF growth 5Y14.95%
OCF growth 1Y31.87%
OCF growth 3Y5.11%
OCF growth 5Y14.92%

THALES SA / HO.PA Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for THALES SA?

ChartMill assigns a fundamental rating of 5 / 10 to HO.PA.


Can you provide the valuation status for THALES SA?

ChartMill assigns a valuation rating of 5 / 10 to THALES SA (HO.PA). This can be considered as Fairly Valued.


What is the profitability of HO stock?

THALES SA (HO.PA) has a profitability rating of 7 / 10.


Can you provide the financial health for HO stock?

The financial health rating of THALES SA (HO.PA) is 3 / 10.


What is the expected EPS growth for THALES SA (HO.PA) stock?

The Earnings per Share (EPS) of THALES SA (HO.PA) is expected to grow by 15.13% in the next year.