THALES SA (HO.PA) Stock Fundamental Analysis

Europe • Euronext Paris • EPA:HO • FR0000121329

245.9 EUR
-6.6 (-2.61%)
Last: Feb 11, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

HO gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 54 industry peers in the Aerospace & Defense industry. HO has a medium profitability rating, but doesn't score so well on its financial health evaluation. HO has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

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 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • With a Return On Assets value of 2.74%, HO perfoms like the industry average, outperforming 46.30% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 14.93%, HO is in line with its industry, outperforming 57.41% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 11.65%, HO is doing good in the industry, outperforming 77.78% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for HO is in line with the industry average of 9.36%.
  • The last Return On Invested Capital (11.65%) for HO is above the 3 year average (8.24%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.74%
ROE 14.93%
ROIC 11.65%
ROA(3y)3.15%
ROA(5y)2.86%
ROE(3y)16.5%
ROE(5y)15.14%
ROIC(3y)8.24%
ROIC(5y)7.14%
HO.PA Yearly ROA, ROE, ROICHO.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • HO has a Profit Margin (4.99%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of HO has grown nicely.
  • With a decent Operating Margin value of 9.24%, HO is doing good in the industry, outperforming 61.11% of the companies in the same industry.
  • In the last couple of years the Operating Margin of HO has grown nicely.
  • The Gross Margin of HO (26.11%) is comparable to the rest of the industry.
  • HO's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.24%
PM (TTM) 4.99%
GM 26.11%
OM growth 3Y5%
OM growth 5Y2.94%
PM growth 3Y0.86%
PM growth 5Y2.5%
GM growth 3Y1.59%
GM growth 5Y1.22%
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 5 10 15 20 25

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3

2. Health

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.
  • HO has less shares outstanding than it did 1 year ago.
  • HO has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, HO has an improved debt to assets ratio.
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

  • Based on the Altman-Z score of 1.71, we must say that HO is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.71, HO is doing worse than 75.93% of the companies in the same industry.
  • The Debt to FCF ratio of HO is 3.07, which is a good value as it means it would take HO, 3.07 years of fcf income to pay off all of its debts.
  • HO has a better Debt to FCF ratio (3.07) than 77.78% of its industry peers.
  • HO has a Debt/Equity ratio of 0.56. This is a neutral value indicating HO is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.56, HO is in line with its industry, outperforming 44.44% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 3.07
Altman-Z 1.71
ROIC/WACC1.31
WACC8.9%
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 2B 4B 6B

2.3 Liquidity

  • HO has a Current Ratio of 0.82. This is a bad value and indicates that HO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.82, HO is doing worse than 88.89% of the companies in the same industry.
  • A Quick Ratio of 0.61 indicates that HO may have some problems paying its short term obligations.
  • The Quick ratio of HO (0.61) is worse than 70.37% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.61
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. Growth

3.1 Past

  • HO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.91%.
  • Measured over the past 5 years, HO shows a small growth in Earnings Per Share. The EPS has been growing by 5.55% on average per year.
  • The Revenue has grown by 11.16% in the past year. This is quite good.
  • Measured over the past years, HO shows a small growth in Revenue. The Revenue has been growing by 2.26% on average per year.
EPS 1Y (TTM)-22.91%
EPS 3Y10.55%
EPS 5Y5.55%
EPS Q2Q%-34.49%
Revenue 1Y (TTM)11.16%
Revenue growth 3Y8.32%
Revenue growth 5Y2.26%
Sales Q2Q%8.14%

3.2 Future

  • Based on estimates for the next years, HO will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.61% on average per year.
  • The Revenue is expected to grow by 8.07% on average over the next years. This is quite good.
EPS Next Y10.64%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
EPS Next 5Y12.61%
Revenue Next Year9.05%
Revenue Next 2Y8.19%
Revenue Next 3Y8.1%
Revenue Next 5Y8.07%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last 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 accelerating.
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. Valuation

4.1 Price/Earnings Ratio

  • HO is valuated quite expensively with a Price/Earnings ratio of 47.56.
  • HO's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 28.03, HO is valued quite expensively.
  • A Price/Forward Earnings ratio of 21.69 indicates a rather expensive valuation of HO.
  • 81.48% of the companies in the same industry are more expensive than HO, based on the Price/Forward Earnings ratio.
  • HO is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.97, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 47.56
Fwd PE 21.69
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

  • 70.37% of the companies in the same industry are more expensive than HO, based on the Enterprise Value to EBITDA ratio.
  • HO's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HO is cheaper than 92.59% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.26
EV/EBITDA 17.79
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.
  • HO has a very decent profitability rating, which may justify a higher PE ratio.
  • HO's earnings are expected to grow with 13.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)4.47
PEG (5Y)8.57
EPS Next 2Y13.45%
EPS Next 3Y13.18%

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

6

5. Dividend

5.1 Amount

  • HO has a Yearly Dividend Yield of 1.53%.
  • Compared to an average industry Dividend Yield of 0.76, HO pays a better dividend. On top of this HO pays more dividend than 83.33% of the companies listed in the same industry.
  • HO's Dividend Yield is comparable with the S&P500 average which is at 1.80.
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 1 2 3

5.3 Sustainability

  • 71.27% of the earnings are spent on dividend by HO. This is not a sustainable payout ratio.
  • HO's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.27%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
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 500M 1B 1.5B 2B
HO.PA Dividend Payout.HO.PA Dividend Payout, showing the Payout Ratio.HO.PA Dividend Payout.PayoutRetained Earnings

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THALES SA

EPA:HO (2/11/2026, 5:36:15 PM)

245.9

-6.6 (-2.61%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)10-23
Earnings (Next)03-03
Inst Owners23.34%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap50.64B
Revenue(TTM)21.35B
Net Income(TTM)1.07B
Analysts75.56
Price Target290.94 (18.32%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.53%
Yearly Dividend3.44
Dividend Growth(5Y)9.56%
DP71.27%
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)3.13%
PT rev (3m)1.58%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.42%
EPS NY rev (3m)0.34%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 47.56
Fwd PE 21.69
P/S 2.37
P/FCF 21.26
P/OCF 16.63
P/B 7.09
P/tB N/A
EV/EBITDA 17.79
EPS(TTM)5.17
EY2.1%
EPS(NY)11.34
Fwd EY4.61%
FCF(TTM)11.57
FCFY4.7%
OCF(TTM)14.79
OCFY6.01%
SpS103.67
BVpS34.66
TBVpS-17.3
PEG (NY)4.47
PEG (5Y)8.57
Graham Number63.5
Profitability
Industry RankSector Rank
ROA 2.74%
ROE 14.93%
ROCE 14.78%
ROIC 11.65%
ROICexc 16.44%
ROICexgc N/A
OM 9.24%
PM (TTM) 4.99%
GM 26.11%
FCFM 11.16%
ROA(3y)3.15%
ROA(5y)2.86%
ROE(3y)16.5%
ROE(5y)15.14%
ROIC(3y)8.24%
ROIC(5y)7.14%
ROICexc(3y)11.9%
ROICexc(5y)10.42%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)11.53%
ROCE(5y)9.88%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y8.29%
ROICexc growth 5Y6.18%
OM growth 3Y5%
OM growth 5Y2.94%
PM growth 3Y0.86%
PM growth 5Y2.5%
GM growth 3Y1.59%
GM growth 5Y1.22%
F-Score7
Asset Turnover0.55
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 3.07
Debt/EBITDA 1.3
Cap/Depr 58.15%
Cap/Sales 3.11%
Interest Coverage 8.81
Cash Conversion 97.82%
Profit Quality 223.49%
Current Ratio 0.82
Quick Ratio 0.61
Altman-Z 1.71
F-Score7
WACC8.9%
ROIC/WACC1.31
Cap/Depr(3y)54.76%
Cap/Depr(5y)48.08%
Cap/Sales(3y)3.16%
Cap/Sales(5y)2.94%
Profit Quality(3y)143.57%
Profit Quality(5y)182.78%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.91%
EPS 3Y10.55%
EPS 5Y5.55%
EPS Q2Q%-34.49%
EPS Next Y10.64%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
EPS Next 5Y12.61%
Revenue 1Y (TTM)11.16%
Revenue growth 3Y8.32%
Revenue growth 5Y2.26%
Sales Q2Q%8.14%
Revenue Next Year9.05%
Revenue Next 2Y8.19%
Revenue Next 3Y8.1%
Revenue Next 5Y8.07%
EBIT growth 1Y17.29%
EBIT growth 3Y13.73%
EBIT growth 5Y5.27%
EBIT Next Year51.54%
EBIT Next 3Y22%
EBIT Next 5Y15.83%
FCF growth 1Y47.72%
FCF growth 3Y-7.33%
FCF growth 5Y8.4%
OCF growth 1Y36.72%
OCF growth 3Y-3.84%
OCF growth 5Y7.31%

THALES SA / HO.PA 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 47.56 and the Price/Book (PB) ratio is 7.09.


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 71.27%.