Thales S.A (THLEF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Thales S.A $194, price $258, upside -24.8%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Thales S.A
THLEF · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range $46.58 – $317.61 · fair‑value band $145.86 – $243.10 · the $258.49 price screens above the $194.48 fair value. Dashed = 300-day average. As of Sep 29, 2026.
Company profile
Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide.
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Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide. 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. It also provides mission-critical and radio communications; cyber defence and electronic warfare solutions; protection systems; unmanned aerial vehicle systems; digital transformation services; and Geonav IoT for real-time indoor/outdoor precise navigations. In addition, it offers digital identity and security solutions comprising banking and payment, data protection, digital identity, identity and access management, biometric, mobile, software monetization, secure IoT solutions, and IoT connecting and security solutions. Further, it provides air traffic management solutions; flight decks and avionics equipment and functions; in-flight entertainment, connectivity, and services; drone and navigation solutions; support and services for civil aviation; connectivity solutions; antennas; and solutions for internal and external aircraft lighting. It offers lasers; microwave and imaging sub-systems; microelectronic solutions; mobile satellite, environmental testing and evaluation laboratory, and training and simulation services; cryogenic technology and coolers; silicon security solutions; and designs, operates, and delivers satellite-based technologies. The company was formerly known as Thomson-CSF and changed its name to Thales S.A. in 2000. Thales S.A. was founded in 1893 and is based in Meudon, France.
Stock analysis
Thales S.A (THLEF) currently trades at $258.49, while our model-based Fair Value estimate is $194.48, 24.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $214.24 per share, and 0 of the 25 models we run sit above the $258.49 price.
Bear case: the Asset-Based group reads lowest at $29.24, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: $145.86 (bear) to $243.10 (bull), the price of $258.49 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Thales S.A reported revenue of €22.1B in FY2025 versus €16.2B in FY2021, a compound +8.1%/yr. Reported net income was €1.7B in FY2025, compounding +11.4%/yr from FY2021.
Key figures
Market cap $53.2B · P/E ratio 27.7 · P/S ratio 2.10 · EPS (TTM) $9.32 · Dividend yield 1.5% · Net margin 7.6% · Return on equity 21.1% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at −25%, THLEF screens richer than that median.
Fair Value models
All 25 models by family
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Set up alert →Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 36
Revenue & earnings trend
Growth Forecast
THLEF screens overvalued: fair value 25% below the price. Compare with General Electric Company →
Recent news
- Acron Aviation Extends Thales Singapore Authorized Repair Center to Cover ACSS's Surveillance Products
- 5G NTN Market Forecasts Growth from $11.91B (2026) to $45.55B by 2031, Profiling Thales, Qualcomm, SpaceX, Ericsson & Nokia
Compare Thales S.A with another stock
Price, fair value, quality and upside side by side.
Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $312.29 | $92.61 | −70% |
| RTX Corporation RTX | $185.01 | $88.30 | −52% |
| Airbus SE AIR | €185.60 | €112.14 | −40% |
| Lockheed Martin Corporation LMT | $509.25 | $439.62 | −14% |
| Howmet Aerospace Inc HWM | $230.94 | $52.67 | −77% |
| General Dynamics Corporation GD | $334.16 | $274.19 | −18% |
| Northrop Grumman Corporation NOC | $504.61 | $382.98 | −24% |
| TransDigm Group TDG | $1,116 | $1,228 | +10% |
| Rheinmetall AG RHM | €956.90 | €313.19 | −67% |
| L3Harris Technologies, Inc LHX | $236.47 | $260.12 | +10% |
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Key figures of Thales S.A
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