THALES SA (HO.PA) Stock Fundamental Analysis
Europe • Euronext Paris • EPA:HO • FR0000121329
253.1 EUR
-5.6 (-2.16%)
Last: Feb 4, 2026, 07:00 PM
HO gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 53 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 is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
- In the past year HO was profitable.
- HO had a positive operating cash flow in the past year.
- Each year in the past 5 years HO has been profitable.
- Each year in the past 5 years HO had a positive operating cash flow.
1.2 Ratios
- HO has a Return On Assets of 2.74%. This is comparable to the rest of the industry: HO outperforms 43.40% of its industry peers.
- The Return On Equity of HO (14.93%) is comparable to the rest of the industry.
- With a decent Return On Invested Capital value of 11.65%, HO is doing good in the industry, outperforming 73.58% 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 9.60%.
- The 3 year average ROIC (8.24%) for HO is below the current ROIC(11.65%), indicating increased profibility in the last year.
| Industry Rank | Sector 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%
1.3 Margins
- HO has a Profit Margin of 4.99%. This is comparable to the rest of the industry: HO outperforms 45.28% of its industry peers.
- HO's Profit Margin has improved in the last couple of years.
- The Operating Margin of HO (9.24%) is comparable to the rest of the industry.
- HO's Operating Margin has improved in the last couple of years.
- 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 Rank | Sector 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%
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.
- Compared to 1 year ago, HO has less shares outstanding
- Compared to 5 years ago, HO has less shares outstanding
- HO has a better debt/assets ratio than last year.
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.
- The Altman-Z score of HO (1.73) is worse than 77.36% of its industry peers.
- HO has a debt to FCF ratio of 3.07. This is a good value and a sign of high solvency as HO would need 3.07 years to pay back of all of its debts.
- With a decent Debt to FCF ratio value of 3.07, HO is doing good in the industry, outperforming 75.47% of the companies in the same industry.
- HO has a Debt/Equity ratio of 0.56. This is a neutral value indicating HO is somewhat dependend on debt financing.
- HO's Debt to Equity ratio of 0.56 is in line compared to the rest of the industry. HO outperforms 43.40% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 3.07 | ||
| Altman-Z | 1.73 |
ROIC/WACC1.28
WACC9.11%
2.3 Liquidity
- A Current Ratio of 0.82 indicates that HO may have some problems paying its short term obligations.
- With a Current ratio value of 0.82, HO is not doing good in the industry: 94.34% of the companies in the same industry are doing better.
- HO has a Quick 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 Quick ratio, with a value of 0.61, HO is doing worse than 73.58% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.82 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
- The earnings per share for HO have decreased strongly by -22.91% in the last year.
- The Earnings Per Share has been growing slightly by 5.55% on average over the past years.
- 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.
- Based on estimates for the next years, HO will show a quite strong growth in Revenue. The Revenue will grow by 8.07% on average per year.
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
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 48.96, HO can be considered very expensive at the moment.
- HO's Price/Earnings is on the same level as the industry average.
- When comparing the Price/Earnings ratio of HO to the average of the S&P500 Index (28.25), we can say HO is valued expensively.
- Based on the Price/Forward Earnings ratio of 22.32, the valuation of HO can be described as rather expensive.
- Based on the Price/Forward Earnings ratio, HO is valued a bit cheaper than the industry average as 77.36% 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 27.50.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.96 | ||
| Fwd PE | 22.32 |
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 64.15% of the companies listed in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of HO indicates a rather cheap valuation: HO is cheaper than 90.57% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.88 | ||
| EV/EBITDA | 18.2 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- HO has a very decent profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as HO's earnings are expected to grow with 13.18% in the coming years.
PEG (NY)4.6
PEG (5Y)8.83
EPS Next 2Y13.45%
EPS Next 3Y13.18%
5. Dividend
5.1 Amount
- HO has a Yearly Dividend Yield of 1.48%.
- Compared to an average industry Dividend Yield of 0.71, HO pays a better dividend. On top of this HO pays more dividend than 86.79% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.82, HO has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
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
5.3 Sustainability
- HO pays out 71.27% of its income as dividend. This is not a sustainable payout ratio.
- The dividend of HO is growing, but earnings are growing more, so the dividend growth is sustainable.
DP71.27%
EPS Next 2Y13.45%
EPS Next 3Y13.18%
EPA:HO (2/4/2026, 7:00:00 PM)
253.1
-5.6 (-2.16%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)10-23 2025-10-23
Earnings (Next)02-26 2026-02-26/amc
Inst Owners23.34%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap52.12B
Revenue(TTM)21.35B
Net Income(TTM)1.07B
Analysts75.56
Price Target283.98 (12.2%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
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)0.66%
PT rev (3m)-0.85%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.42%
EPS NY rev (3m)1.61%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.17%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.96 | ||
| Fwd PE | 22.32 | ||
| P/S | 2.44 | ||
| P/FCF | 21.88 | ||
| P/OCF | 17.12 | ||
| P/B | 7.3 | ||
| P/tB | N/A | ||
| EV/EBITDA | 18.2 |
EPS(TTM)5.17
EY2.04%
EPS(NY)11.34
Fwd EY4.48%
FCF(TTM)11.57
FCFY4.57%
OCF(TTM)14.79
OCFY5.84%
SpS103.67
BVpS34.66
TBVpS-17.3
PEG (NY)4.6
PEG (5Y)8.83
Graham Number63.5
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 1.73 |
F-Score7
WACC9.11%
ROIC/WACC1.28
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 4 / 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 48.96 and the Price/Book (PB) ratio is 7.3.
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%.