THALES SA (HO.PA) Fundamental Analysis & Valuation

EPA:HO • FR0000121329

Current stock price

232.8 EUR
-9.9 (-4.08%)
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.
  • HO had a positive operating cash flow in the past year.
  • HO had positive earnings in each of the past 5 years.
  • 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

  • Looking at the Return On Assets, with a value of 4.28%, HO is in line with its industry, outperforming 59.65% of the companies in the same industry.
  • HO has a better Return On Equity (21.01%) than 71.93% of its industry peers.
  • HO has a Return On Invested Capital of 12.72%. This is in the better half of the industry: HO outperforms 75.44% of its industry peers.
  • HO had an Average Return On Invested Capital over the past 3 years of 9.54%. This is in line with the industry average of 9.92%.
  • The 3 year average ROIC (9.54%) for HO is below the current ROIC(12.72%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.28%
ROE 21.01%
ROIC 12.72%
ROA(3y)3.49%
ROA(5y)3.41%
ROE(3y)18.3%
ROE(5y)17.46%
ROIC(3y)9.54%
ROIC(5y)8.66%
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 has a Profit Margin of 7.56%. This is in the better half of the industry: HO outperforms 63.16% of its industry peers.
  • HO's Profit Margin has improved in the last couple of years.
  • HO has a Operating Margin (10.02%) which is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of HO has grown nicely.
  • HO has a Gross Margin (26.44%) which is comparable to the rest of the industry.
  • HO's Gross Margin has improved in the last couple of years.
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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4

2. HO.PA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HO is creating some value.
  • HO has about the same amout of shares outstanding than it did 1 year ago.
  • HO has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HO has been reduced compared to a year ago.
HO.PA Yearly Shares OutstandingHO.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 10B 20B 30B

2.2 Solvency

  • Based on the Altman-Z score of 1.73, we must say that HO is in the distress zone and has some risk of bankruptcy.
  • HO has a worse Altman-Z score (1.73) than 73.68% 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.
  • The Debt to FCF ratio of HO (2.39) is better than 73.68% 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.
  • With a Debt to Equity ratio value of 0.50, HO perfoms like the industry average, outperforming 47.37% of the companies in the same industry.
  • 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 1.73
ROIC/WACC1.62
WACC7.84%
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.
  • With a Current ratio value of 0.84, HO is not doing good in the industry: 91.23% of the companies in the same industry are doing better.
  • 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.
  • HO has a Quick ratio of 0.65. This is in the lower half of the industry: HO underperforms 77.19% 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 2025 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 18.40% over the past year.
  • HO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.27% yearly.
  • Looking at the last year, HO shows a small growth in Revenue. The Revenue has grown by 7.58% in the last year.
  • The Revenue has been growing slightly by 7.57% on average over the past years.
EPS 1Y (TTM)18.4%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.84%
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 11.41% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 7.54% on average over the next years.
EPS Next Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
EPS Next 5Y11.41%
Revenue Next Year7.99%
Revenue Next 2Y8.03%
Revenue Next 3Y8.21%
Revenue Next 5Y7.54%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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

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5

4. HO.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 23.85 indicates a rather expensive valuation of HO.
  • Based on the Price/Earnings ratio, HO is valued cheaper than 82.46% of the companies in the same industry.
  • HO is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 21.04, HO is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, HO is valued a bit cheaper than 78.95% of the companies in the same industry.
  • HO is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.29, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 23.85
Fwd PE 21.04
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

  • HO's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HO is cheaper than 70.18% of the companies in the same industry.
  • HO's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HO is cheaper than 92.98% of the companies in the same industry.
Industry RankSector Rank
P/FCF 18.69
EV/EBITDA 14.97
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.
  • The decent profitability rating of HO may justify a higher PE ratio.
  • HO's earnings are expected to grow with 13.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.78
PEG (5Y)1.38
EPS Next 2Y13.53%
EPS Next 3Y13.07%

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5

5. HO.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.61%, HO has a reasonable but not impressive dividend return.
  • HO's Dividend Yield is rather good when compared to the industry average which is at 0.88. HO pays more dividend than 84.21% of the companies in the same industry.
  • HO's Dividend Yield is comparable with the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 1.61%

5.2 History

  • The dividend of HO is nicely growing with an annual growth rate of 56.89%!
Dividend Growth(5Y)56.89%
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

  • HO pays out 46.62% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • HO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP46.62%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
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 (4/24/2026, 7:00:00 PM)

232.8

-9.9 (-4.08%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)04-22
Earnings (Next)07-21
Inst Owners22.22%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap47.94B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts78.62
Price Target298.56 (28.25%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.61%
Yearly Dividend3.8
Dividend Growth(5Y)56.89%
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)5.13%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.52%
EPS NY rev (3m)-2.4%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.51%
Revenue NY rev (3m)0.65%
Valuation
Industry RankSector Rank
PE 23.85
Fwd PE 21.04
P/S 2.17
P/FCF 18.69
P/OCF 14.43
P/B 6.02
P/tB N/A
EV/EBITDA 14.97
EPS(TTM)9.76
EY4.19%
EPS(NY)11.07
Fwd EY4.75%
FCF(TTM)12.46
FCFY5.35%
OCF(TTM)16.13
OCFY6.93%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.78
PEG (5Y)1.38
Graham Number92.1789 (-60.4%)
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)3.49%
ROA(5y)3.41%
ROE(3y)18.3%
ROE(5y)17.46%
ROIC(3y)9.54%
ROIC(5y)8.66%
ROICexc(3y)13.3%
ROICexc(5y)12.54%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)13.33%
ROCE(5y)11.84%
ROICexgc growth 3Y151.11%
ROICexgc growth 5Y101.68%
ROICexc growth 3Y9.04%
ROICexc growth 5Y20.3%
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 1.73
F-Score9
WACC7.84%
ROIC/WACC1.62
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)18.4%
EPS 3Y9.91%
EPS 5Y17.27%
EPS Q2Q%151.84%
EPS Next Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
EPS Next 5Y11.41%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y8.01%
Revenue growth 5Y7.57%
Sales Q2Q%7.1%
Revenue Next Year7.99%
Revenue Next 2Y8.03%
Revenue Next 3Y8.21%
Revenue Next 5Y7.54%
EBIT growth 1Y22.11%
EBIT growth 3Y15.42%
EBIT growth 5Y19.8%
EBIT Next Year48.37%
EBIT Next 3Y21.18%
EBIT Next 5Y14.1%
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 4 / 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 13.38% in the next year.