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HO

Thales S.A.

HO.PAIndustrialsEURONEXT

Aerospace & Defense

PriceMA150MA200
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Indicator snapshot
MA150-4.54%
$241.24

Price below medium-term moving average.

MA200-4.45%
$241.02

Below long-term trend line.

RSI-14neutral
48.2

Balanced. Not overbought, not oversold.

MACDpositive
+1.6785

Histogram positive — upward momentum.

Financials · Annual
Revenue
$22.14B
+7.6% YoY
Net Income
$1.67B
+18.0% YoY
EBITDA
$3.41B
+27.7% YoY
Free Cash Flow
$2.08B

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About Thales S.A.

Part of the industrials sector, Thales S.A. (HO.PA) is listed under Aerospace & Defense. With a market capitalization of $47.32B, it sits in large-cap territory. The company offers advance air defence systems, combat systems, defence onboard electronics c4isr solutions, command and control solutions, mission and surveillance systems, airborne optronics, and airspace protection solutions; collaborative combat, intelligence, connectivity and cloud, country and force protection, military vehicle, collaborative artillery, and augmented soldier solutions; robotics and drones; above-water combat, unmanned maritime, and underwater warfare systems; naval support and services; and joint systems.

Key stats
Market Cap$47.32B
P/E (TTM)28.36
Fwd P/E18.75
EPS$8.12
Beta0.10
52W Change-14.8%
Dividend Yield1.68%
ROE21.1%
Analysis

The company holds $4.49B in cash, though total debt stands at $6.13B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. The company generates $2.08B in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. Return on equity stands at 21.1%, which is strong for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 3.4% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $16.19B (2021) to $22.14B (2025), reflecting a 37% increase over the period.

With a beta below 0.7, Thales S.A. typically sees smaller price swings than the overall market, offering a degree of stability during turbulent periods. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Thales S.A.'s trajectory.

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