THALES SA (HO.PA) Fundamental Analysis & Valuation

EPA:HO • FR0000121329

Current stock price

252.6 EUR
-0.8 (-0.32%)
Last:

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

6

1. HO.PA Profitability Analysis

1.1 Basic Checks

  • In the past year HO was profitable.
  • HO had a positive operating cash flow in the past year.
  • In the past 5 years HO has always been profitable.
  • Each year in the past 5 years HO had a positive operating cash flow.
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

  • The Return On Assets of HO (4.28%) is comparable to the rest of the industry.
  • HO's Return On Equity of 21.01% is fine compared to the rest of the industry. HO outperforms 71.43% of its industry peers.
  • HO has a Return On Invested Capital of 12.72%. This is amongst the best in the industry. HO outperforms 80.36% 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

  • HO's Profit Margin of 7.56% is fine compared to the rest of the industry. HO outperforms 60.71% of its industry peers.
  • HO's Profit Margin has improved in the last couple of years.
  • With a Operating Margin value of 10.02%, HO perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
  • In the last couple of years the Operating Margin of HO has grown nicely.
  • HO has a Gross Margin (26.44%) which is in line with its industry peers.
  • 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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. HO.PA Health Analysis

2.1 Basic Checks

  • HO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • HO has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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 1.95 indicates that HO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • HO has a worse Altman-Z score (1.95) than 67.86% of its industry peers.
  • The Debt to FCF ratio of HO is 2.39, which is a good value as it means it would take HO, 2.39 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 2.39, HO is doing good in the industry, outperforming 76.79% of the companies in the same industry.
  • HO has a Debt/Equity ratio of 0.50. This is a neutral value indicating HO is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.50, HO perfoms like the industry average, outperforming 46.43% of the companies in the same industry.
  • Although HO's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 2.39
Altman-Z 1.95
ROIC/WACC1.51
WACC8.43%
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

  • HO has a Current Ratio of 0.84. This is a bad value and indicates that HO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of HO (0.84) is worse than 89.29% of its industry peers.
  • HO has a Quick Ratio of 0.84. This is a bad value and indicates that HO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.65, HO is not doing good in the industry: 69.64% of the companies in the same industry are doing better.
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

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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

  • HO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.38% yearly.
  • 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 Year7.44%
Revenue Next 2Y7.69%
Revenue Next 3Y7.84%
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.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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

More info and screens

Find the best growth stocksShow best growing peers

5

4. HO.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 25.88, which means the current valuation is very expensive for HO.
  • 76.79% of the companies in the same industry are more expensive than HO, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of HO to the average of the S&P500 Index (25.79), we can say HO is valued inline with the index average.
  • With a Price/Forward Earnings ratio of 22.48, HO is valued on the expensive side.
  • HO's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. HO is cheaper than 76.79% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of HO to the average of the S&P500 Index (23.80), we can say HO is valued inline with the index average.
Industry RankSector Rank
PE 25.88
Fwd PE 22.48
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

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, HO is valued a bit cheaper than 73.21% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, HO is valued cheaper than 91.07% of the companies in the same industry.
Industry RankSector Rank
P/FCF 20.28
EV/EBITDA 16.25
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 PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • HO has a very decent profitability rating, which may justify a higher PE ratio.
  • HO's earnings are expected to grow with 13.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.71
PEG (5Y)1.5
EPS Next 2Y13.94%
EPS Next 3Y13.62%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. HO.PA Dividend Analysis

5.1 Amount

  • HO has a Yearly Dividend Yield of 1.53%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.78, HO pays a better dividend. On top of this HO pays more dividend than 85.71% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, HO has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.53%

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 Years3
Div Non Decr Years3
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

  • HO pays out 46.62% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of HO is growing, but earnings are growing more, so the dividend growth is 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

More info and screens

Find the best dividend stocksShow peers with best dividend

HO.PA Fundamentals: All Metrics, Ratios and Statistics

THALES SA

EPA:HO (3/19/2026, 9:35:17 AM)

252.6

-0.8 (-0.32%)

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 Cap52.02B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts77.86
Price Target290.94 (15.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.53%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP46.62%
Div Incr Years3
Div Non Decr Years3
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)0%
PT rev (3m)3.13%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.89%
EPS NY rev (3m)-0.69%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.12%
Valuation
Industry RankSector Rank
PE 25.88
Fwd PE 22.48
P/S 2.35
P/FCF 20.28
P/OCF 15.66
P/B 6.53
P/tB N/A
EV/EBITDA 16.25
EPS(TTM)9.76
EY3.86%
EPS(NY)11.24
Fwd EY4.45%
FCF(TTM)12.46
FCFY4.93%
OCF(TTM)16.13
OCFY6.39%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.71
PEG (5Y)1.5
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 1.95
F-Score9
WACC8.43%
ROIC/WACC1.51
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 Year7.44%
Revenue Next 2Y7.69%
Revenue Next 3Y7.84%
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.


Can you provide the profitability details for THALES SA?

THALES SA (HO.PA) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for HO stock?

The Price/Earnings (PE) ratio for THALES SA (HO.PA) is 25.88 and the Price/Book (PB) ratio is 6.53.


Can you provide the dividend sustainability for HO stock?

The dividend rating of THALES SA (HO.PA) is 6 / 10 and the dividend payout ratio is 46.62%.