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We have researched Thales. The verdict, the fair value and the argument behind them are available to Premium members.
A PrimerIQ deep dive is a full research report on the company and everything around it — not a summary of one annual report. It covers:
You get a bear, base and bull case with the assumptions behind each, the price we think it is worth, and the specific things that would break the thesis.
Put a question to the analyst and get an answer grounded in this company's own filings and our research — "what breaks the thesis?", "how much of profit goes to interest?"
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Annual financial statements as reported, going back as far as the data allows.
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This company has been valued on Reinvestment-consistent DCF, with a year-by-year forecast, the cost of capital built up from the risk-free rate, a bear/base/bull scenario set and a sensitivity grid. The fair value and the scenario range are on the Overview; the workings behind them — every driver, rate and sensitivity — are Premium.
The 6 investable Aerospace & Defense industry peers closest in size, largest first. Market caps are shown in USD so the set compares like with like; the multiples are currency-neutral. The median is taken across the PEERS only — it is what this company is being compared to — and per column, over the peers that actually report each measure.
| Company | Mkt cap (USD) | P/E | EV/FCF | P/B | ROIC | Op margin | Div yield |
|---|---|---|---|---|---|---|---|
| Northrop Grumman NOC | $73.1bn | 16.3× | 25.5× | 4.4× | 13.3% | 10.8% | 1.9% |
| Transdigm TDG | $65.4bn | 30.7× | 50.7× | — | 18.5% | 47.2% | 0.2% |
| Rheinmetall RHM | $56.1bn | 63.6× | — | 14.5× | 20.1% | 12.5% | 0.5% |
| Thales HO | $55.8bn | 29.3× | 20.2× | 6.0× | 13.3% | 9.3% | 1.6% |
| L3Harris Technologies LHX | $47.9bn | 25.6× | 21.4× | 2.4× | 6.0% | 9.9% | 2.2% |
| Heico HEI | $45.8bn | 54.0× | 55.5× | 10.6× | 13.6% | 22.7% | 0.1% |
| China CSSC 600150 | $42.0bn | 24.4× | 35.2× | 2.0× | 50.3% | 4.6% | 1.0% |
| Peer median | $52.0bn | 28.1× | 35.2× | 4.4× | 16.0% | 11.6% | 0.7% |
A comparable set says what the market is paying for similar businesses today, not what any of them is worth. It is a cross-check on the model above, not a substitute for it.
A full deep-dive (business, moat, risks, valuation and scenarios) hasn't been generated for this company yet.
Source documents straight from the database — click to read the raw filing or release. Our read on what matters lives in Recent developments.
Upcoming and recent investor events — results, AGM, dividend and ex-dividend dates — from the company's own investor calendar.
Every place this issuer trades — the home listing, foreign cross-listings and depositary receipts (ADR/CDR/BDR), plus any separate share classes. The screener shows one canonical line per company; the rest live here.
| Listing | Exchange | Ticker | Currency | Price | Type |
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Interactive price chart with the common technical-analysis overlays and indicators — moving averages, Bollinger Bands, volume, RSI and MACD — plus an at-a-glance momentum summary. Use the chart's own toolbar to add or remove studies, change timeframe, or search a different listing.
A note on method: PrimerIQ's research is built bottom-up from the filings — what a business earns and what it's worth. The charts below read price history, not the business; we include them because many investors want them, not because they drive our valuation. Treat them as one lens among several.
Relative strength percentile: 70 vs market, 73 vs industry. Momentum rank is a 0–100 percentile across 36,468 companies — one lens, not a valuation signal.
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The webcast audio itself, transcribed in full, with the structural signals the transcript text alone loses — how scripted rather than spontaneous the language is, where management hesitated longest, and which answers were most hedged.
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Select a filing to view its raw text.