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

  • In the past year HO was profitable.
  • 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 2025 1B 2B 3B

1.2 Ratios

  • HO's Return On Assets of 4.28% is in line compared to the rest of the industry. HO outperforms 59.65% of its industry peers.
  • HO's Return On Equity of 21.01% is fine compared to the rest of the industry. HO outperforms 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.
  • Measured over the past 3 years, the Average Return On Invested Capital for HO is in line with the industry average of 10.01%.
  • The last Return On Invested Capital (12.72%) for HO is above the 3 year average (9.54%), which is a sign of increasing profitability.
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

  • With a decent Profit Margin value of 7.56%, HO is doing good in the industry, outperforming 63.16% of the companies in the same industry.
  • In the last couple of years the Profit Margin of HO has grown nicely.
  • The Operating Margin of HO (10.02%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of HO has grown nicely.
  • With a Gross Margin value of 26.44%, HO perfoms like the industry average, outperforming 42.11% of the companies in the same industry.
  • 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

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4

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.
  • Compared to 1 year ago, HO has about the same amount of shares outstanding.
  • 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 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's Altman-Z score of 1.73 is on the low side compared to the rest of the industry. HO is outperformed by 73.68% of its industry peers.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 2.39, HO is in the better half of the industry, outperforming 73.68% of the companies in the same industry.
  • A Debt/Equity ratio of 0.50 indicates that HO is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.50, HO is in line with its industry, 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/WACC1.55
WACC8.23%
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.
  • HO has a Current ratio of 0.84. This is amonst the worse of the industry: HO underperforms 91.23% of its industry peers.
  • A Quick Ratio of 0.65 indicates that HO may have some problems paying its short term obligations.
  • HO's Quick ratio of 0.65 is on the low side compared to the rest of the industry. HO is outperformed by 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.
  • 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.
  • Looking at the last year, HO shows a small growth in Revenue. The Revenue has grown by 7.58% in the last 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)18.4%
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

  • HO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.41% yearly.
  • Based on estimates for the next years, HO will show a small growth in Revenue. The Revenue will grow by 7.54% on average per year.
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

  • Based on the Price/Earnings ratio of 23.85, the valuation of HO can be described as rather expensive.
  • 82.46% of the companies in the same industry are more expensive than HO, based on the Price/Earnings ratio.
  • HO's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.42.
  • HO is valuated rather expensively with a Price/Forward Earnings ratio of 21.04.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HO indicates a somewhat cheap valuation: HO is cheaper than 78.95% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of HO to the average of the S&P500 Index (22.24), we can say HO is valued inline with the index average.
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 50 100 150 200

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.
  • 92.98% of the companies in the same industry are more expensive than HO, based on the Price/Free Cash Flow ratio.
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

  • HO's 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.
  • A more expensive valuation may be justified as HO's earnings are expected to grow with 13.07% in the coming years.
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

  • HO has a Yearly Dividend Yield of 1.61%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.85, HO pays a better dividend. On top of this HO pays more dividend than 84.21% of the companies listed 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

  • 46.62% of the earnings are spent on dividend by HO. This is a bit on the high side, but may be sustainable.
  • The dividend of HO is growing, but the earnings are growing slower. 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
WACC8.23%
ROIC/WACC1.55
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 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.