THALES SA (HO.PA) Fundamental Analysis & Valuation

EPA:HO • FR0000121329

Current stock price

259.2 EUR
-9 (-3.36%)
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

  • HO had positive earnings in the past year.
  • In the past year HO had a positive cash flow from operations.
  • 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.
  • Looking at the Return On Equity, with a value of 21.01%, HO is in the better half of the industry, outperforming 71.93% of the companies in the same industry.
  • HO's Return On Invested Capital of 12.72% is fine compared to the rest of the industry. HO outperforms 78.95% 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 has a better Profit Margin (7.56%) than 63.16% of its industry peers.
  • In the last couple of years the Profit Margin of HO has grown nicely.
  • HO has a Operating Margin (10.02%) which is in line with its industry peers.
  • HO's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 26.44%, HO perfoms like the industry average, outperforming 45.61% of the companies in the same 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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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.
  • 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 1.97 indicates that HO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 1.97, HO is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
  • 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's Debt to FCF ratio of 2.39 is fine compared to the rest of the industry. HO outperforms 75.44% 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 49.12% 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 1.97
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.
  • Looking at the Current ratio, with a value of 0.84, HO is doing worse than 89.47% of the companies in the same industry.
  • 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 73.68% 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.
  • The Earnings Per Share has been growing by 17.27% on average over the past years. This is quite good.
  • HO shows a small growth in Revenue. In the last year, the Revenue has grown by 7.58%.
  • The Revenue has been growing slightly by 7.57% on average over the past years.
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

  • Based on estimates for the next years, HO will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.38% on average per year.
  • HO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.68% yearly.
EPS Next Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
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.
  • 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

  • HO is valuated quite expensively with a Price/Earnings ratio of 26.56.
  • Based on the Price/Earnings ratio, HO is valued cheaply inside the industry as 82.46% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of HO to the average of the S&P500 Index (26.86), we can say HO is valued inline with the index average.
  • Based on the Price/Forward Earnings ratio of 23.42, the valuation of HO can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HO indicates a somewhat cheap valuation: HO is cheaper than 75.44% of the companies listed in the same industry.
  • HO is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 37.39, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 26.56
Fwd PE 23.42
HO.PA Price Earnings VS Forward Price EarningsHO.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 100 200 300

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HO indicates a somewhat cheap valuation: HO is cheaper than 70.18% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, HO is valued cheaper than 87.72% of the companies in the same industry.
Industry RankSector Rank
P/FCF 20.81
EV/EBITDA 16.62
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.
  • HO's earnings are expected to grow with 13.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.98
PEG (5Y)1.54
EPS Next 2Y13.53%
EPS Next 3Y13.07%

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6

5. HO.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.45%, HO has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.69, HO pays a better dividend. On top of this HO pays more dividend than 87.72% of the companies listed in the same industry.
  • Compared to the average S&P500 Dividend Yield of 1.82, HO is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.45%

5.2 History

  • The dividend of HO is nicely growing with an annual growth rate of 9.56%!
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

  • 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 2Y13.53%
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 (4/10/2026, 7:00:00 PM)

259.2

-9 (-3.36%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)03-03
Earnings (Next)04-22
Inst Owners22.22%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap53.38B
Revenue(TTM)22.14B
Net Income(TTM)1.67B
Analysts78.62
Price Target294.18 (13.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.45%
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)1.11%
PT rev (3m)4.27%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.52%
EPS NY rev (3m)-2.16%
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 26.56
Fwd PE 23.42
P/S 2.41
P/FCF 20.81
P/OCF 16.07
P/B 6.7
P/tB N/A
EV/EBITDA 16.62
EPS(TTM)9.76
EY3.77%
EPS(NY)11.07
Fwd EY4.27%
FCF(TTM)12.46
FCFY4.81%
OCF(TTM)16.13
OCFY6.22%
SpS107.49
BVpS38.69
TBVpS-12.42
PEG (NY)1.98
PEG (5Y)1.54
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 1.97
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 Y13.38%
EPS Next 2Y13.53%
EPS Next 3Y13.07%
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 Year48.37%
EBIT Next 3Y21.18%
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 6 / 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 13.38% in the next year.