Thales Earnings: Strong Q1 Results Aligned With Our Expectations, We Retain Our Fair Value Estimate
Wide-moat Thales reported strong first-quarter results, ahead of management guidance. Our fair value estimate is unchanged.
Wide-moat Thales reported strong first-quarter results, ahead of management guidance. Our fair value estimate is unchanged.
Expectations for higher defense budgets in Europe over the medium term will benefit Thales' core defense-related sales.
Global supply chain bottlenecks and rising inflation could affect the group's delivery schedules and weigh on margins in the short term.
Metric
|
HO
|
GD
|
LMT
|
---|---|---|---|
Price/Earnings (Normalized) | 20.39 | 23.37 | 16.65 |
Price/Book Value | 4.78 | 3.67 | 16.59 |
Price/Sales | 1.79 | 1.83 | 1.64 |
Price/Cash Flow | 24.68 | 19.78 | 13.82 |
Metric
|
HO
|
GD
|
LMT
|
---|---|---|---|
Quick Ratio | 0.56 | 0.76 | 0.99 |
Current Ratio | 0.89 | 1.44 | 1.21 |
Interest Coverage | 5.42 | 13.19 | 9.84 |
Metric
|
HO
|
GD
|
LMT
|
---|---|---|---|
Return on Assets (Normalized) | 4.57% | 6.58% | 12.47% |
Return on Equity (Normalized) | 23.45% | 17.44% | 82.57% |
Return on Invested Capital (Normalized) | 12.39% | 12.06% | 29.85% |
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
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|
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