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HO.PA$230.00-3.97%
Fair $230.00+0.0%

HO.PA

Thales S.A.

Industrials / Aerospace & DefenseParis

$230.00

-9.50 (-3.97%)

Fairly Valued+0.0%Fair Value $230.00Fund rank 35/100 · Data gapFallback financials|
SA 42/C
F-Score: 8/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 23% · confianza 25%

FCF escenarios

weak_data · normalized FCF $2.0B · quality 68.3/100

Data gap 35/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 78/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

42/100

C

Piotroski

8/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified.
Thesis & Journal · HO.PALocal privado en este navegador · Thales S.A.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$47.3B

P/E

28.3x

↑

EV/EBITDA

14.4x

↑

ROE

21.0%

↑

Gross Margin

26.4%

↑

Debt/Equity

0.77

↑
52-Week Range$230
$215$279

TradingView lightweight chart

HO.PA price, volumen y niveles de valoración

Último $230.00Periodo +581.5%
Fair value: $230.00

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+8.0%

FCF CAGR

+1.0%

FCF margin

11.6%

FCF / Net income

1.53x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $22.14B · net income $1.67B · FCF $2.57B

2022-FY → 2025-FY

Gross margin

26.4%+1.1% pts

Operating margin

10.0%+1.8% pts

Net margin

7.6%+1.2% pts

FCF margin

11.6%-2.6% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$22.14B$22.14B$20.58B$18.43B$17.57B
Net Income$1.67B$1.67B$1.42B$1.02B$1.12B
EBITDA$3.41B$3.41B$2.67B$2.46B$2.51B
EPS8.138.136.894.895.28
Gross Margin26.4%26.4%26.1%25.9%25.4%
Operating Margin10.0%10.0%8.8%9.0%8.2%
Net Margin7.6%7.6%6.9%5.6%6.4%
Balance Sheet
Debt/Equity0.770.771.041.230.76
Current Ratio0.840.84———
Cash Flow
Free Cash Flow$2.57B$2.57B$2.01B$885.8M$2.49B
Returns
ROE21.0%21.0%18.9%15.0%15.6%
Valuation
P/E28.3328.3319.8427.9621.96
EV/EBITDA14.3714.3711.6813.459.96
P/B5.945.943.754.193.43
Growth & Yield
Revenue Growth7.6%7.6%11.7%4.9%—
EPS Growth18.0%18.0%40.9%-7.4%—
Dividend Yield1.6%1.6%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

35.9%

muy exigente

EPS terminal req.

$20.41

Spread vs growth

-17.9%

5Y implied EPS CAGR

24.9%

exigente

EPS terminal req.

$24.69

Spread vs growth

-6.9%

10Y implied EPS CAGR

17.2%

exigente

EPS terminal req.

$39.77

Spread vs growth

0.8%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -14.0%

Total return

-14.0%

Start / end P/E

39.6x → 28.3x

EPS bridge

6.89 → 8.13

Residual

-5.1%

EPS growth+18.0%
Multiple rerating-28.5%
Dividend+1.6%
Residual / FX / buybacks / cross-term-5.1%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.