2025 Q4 -tulosraportti
28 päivää sitten
‧1 t 40 min
2,95 EUR/osake
Irtoamispäivä 18.5.
1,60%Tuotto/v
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 21.4. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 3.3. | ||
2025 Q3 -tulosraportti 23.10.2025 | ||
2025 Q2 -tulosraportti 23.7.2025 | ||
2025 Q1 -tulosraportti 24.4.2025 | ||
2024 Q4 -tulosraportti 4.3.2025 |
Asiakkaat katsoivat myös
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
·5.3.Thales fell to €236.40 (-5.70%) on a day when the financial results were actually strong: 2025 revenue rose 7.6% to €22.1 billion, the margin increased to 12.4%, net profit rose significantly, and the dividend is proposed to be raised to €3.90 per share. It therefore does not look like a “fundamental break”, but rather a classic case of high expectations + profit-taking after a strong defense rally. When a stock has become expensive due to optimism, even good numbers can be met with “sell the news”, especially if 2026-guidance is perceived as more in line than a new big boost. Going forward, the case is less about headlines and more about execution: can Thales deliver 6–7% organic growth and raise the margin to 12.6–12.8% in 2026, while investments and potential weaknesses in cyber/digital do not erode cash flow? For investors, the most important data points in the coming quarters will be order intake/backlog quality, margin mix, and signs of stabilization in the most challenged business areas. The fall can therefore be seen as a short-term “reset” in pricing – but it is the 2026 delivery that will determine the next leg in the stock.
·5.3.How can it be that the stock fell when they delivered strong Q4 results? Is now the time to buy?
·5.3.It has a p/e of around 50, which therefore also sets the bar high. From what I can read, it is, as shikerin writes, disappointing guidance that is being punished.- 3.3.3.3.Thales (THLEF) Full Year 2025 Earnings Call Highlights: Record Cash Flow and Strategic Advances Amid Mixed Cyber Performance Positive Points Thales (THLEF, Financial) achieved a record high free cash flow in 2025, reinforcing its financial strength and ability to fund future growth. The company exceeded all its 2025 financial targets, including a robust improvement in profitability compared to 2024. Thales (THLEF) made significant strategic progress, including increasing production capacity to capture rising defense spending. The company continued to strengthen its R&D leadership with breakthroughs in AI, quantum, and nuclear fusion technologies. Thales (THLEF) signed an MOU with Airbus and Leonardo to create a leading European space player, enhancing Europe's strategic autonomy in space. Negative Points Cyber and digital sales were slightly down organically, reflecting a mixed performance in 2025. The cyber services segment faced challenges, particularly in the Australian market, impacting overall performance. Currency fluctuations negatively impacted reported growth, with a 1.5% headwind due to the strengthening of the Euro. The company faced a tax surcharge in France, which affected the effective tax rate and net income. Despite strong overall performance, the cyber and digital segment underperformed compared to expectations, with a need to regain lost market share Q & A Highlights Q: Could you provide guidance on the divisional growth expectations for 2026, particularly for defense, aerospace, and cyber and digital? How do you see Thales performing in the cyber market? A: For 2026, we expect organic growth between 6% and 7% at the group level. Defense is anticipated to grow at a high single-digit rate, consistent with our overall guidance. Aerospace is expected to see mid-single-digit growth, with avionics contributing significantly. In cyber and digital, we aim for mid-single-digit growth, with cyber expected to perform above this level. Our priority is to regain growth in the cyber market, which remains positive. Q: How do you view the impact of AI on the cyber market, and what is your M&A strategy in light of technological advancements? A: AI presents a significant opportunity for enhancing our cyber solutions, making them more efficient in combating cyberattacks. We are launching new solutions leveraging AI. Regarding M&A, our approach remains pragmatic and financially disciplined across all verticals, including defense, aeronautics, and cyber and digital. We are open to opportunities that align with our strategic goals. Q: Can you comment on the pricing strategy and margin expectations for the cyber and digital segment in 2026? Also, how much revenue was generated from Ukraine in 2025? A: We aim to grow the cyber product segment without compromising on pricing. Our mid-term objective is a 20% EBIT margin and 10% growth. In 2025, revenue from Ukraine was approximately €450 million, representing about 3.5% of our defense revenue. We expect this to grow to around €600 million in 2026. Q: Could you provide insights into your free cash flow conversion assumptions for 2026, particularly regarding working capital and CapEx? A: For 2026, we anticipate a free cash flow conversion ratio between 95% and 100%. CapEx is expected to increase to €820-€850 million, aligning with our strategy to invest in growth. We assume a stable working capital level, although this will depend on order intake and contract profiles. Q: What is the status of the Bromo project authorization, and has the SAM TNG contract with Denmark been confirmed? A: The Bromo project is progressing well, with constructive discussions ongoing with unions and antitrust authorities. The SAM TNG contract with Denmark is 99% secure, with no risk of not being finalized in 2026. We see significant potential for SAM TNG in Europe and the Middle East, given the increasing importance of air defense. https://www.gurufocus.com/news/8673756/thales-thlef-full-year-2025-earnings-call-highlights-record-cash-flow-and-strategic-advances-amid-mixed-cyber-performance?utm_source=yahoo_finance&utm_medium=syndication&utm_campaign=headlines&r=caf6fe0e0db70d936033da5461e60141
- 3.3. · Muokattu3.3. · MuokattuThales Grew Fast On Defense Orders, But Guidance Fell Short Sales and the order book stayed strong, yet a softer 2026 outlook and uneven cyber results helped push shares lower. France’s Thales lifted 2025 sales to €22.14 billion, but the stock slipped after it flagged a more modest 2026 outlook and uneven performance in its cyber unit. What does this mean? Thales is still riding Europe’s rearmament cycle. Defense revenue grew 12.2% organically and aerospace sales rose 8.7% to €5.91 billion, helped by strong avionics demand. Orders stayed sturdy too: intake reached €25.26 billion and the backlog climbed to €53 billion, giving the firm plenty of runway. The weak spot is cyber and digital. That division dipped 0.9% organically as management pointed to integration disruption from Imperva, and analysts at Berenberg questioned whether the late-year “improvement” was as real as advertised. When a higher-growth segment wobbles, investors tend to discount the rest of the story – even when defense is humming. Why should I care? For markets: Guidance is where the bar gets set. For 2026, Thales guided for 6%–7% organic sales growth, roughly €23.3 billion–€23.6 billion, and it assumes no fresh macro or geopolitical shocks. Berenberg said that midpoint sits below its own forecast and slightly under consensus, which helps explain the post-results drop. In other words, a big backlog supports long-term visibility, but valuation still depends on execution – especially in cyber. Zooming out: Defense spending is turning into a broader export story. Growth is spreading beyond France: sales rose 20.4% organically in continental Europe ex-France, while emerging markets and other mature markets also grew solidly. That diversification can smooth demand, but it also makes delivery riskier across more programs and regions. Thales is also keeping shareholder payouts steady, proposing a €3.90 dividend for 2025, up from €3.70. https://finimize.com/content/thales-grew-fast-on-defense-orders-but-guidance-fell-short
- ·3.3.Thales: a slightly disappointing guidance? Published on 03/03/2026 at 09:05 Boursier.com) — In a market bearish again, Thales, which had opened higher, is now losing 0.6% at 252.2 euros in early trading. The aerospace, security and defense equipment supplier reported annual results slightly above expectations, particularly thanks to its defense division and demand for its aerospace and space activities. The group thus recorded an adjusted EBIT 2025 up 14% on an organic basis year-on-year, at 2.74 billion euros. Revenue increased by 8.8% to 22.14 billion euros, with order intake improving by 1% to 25.26 billion euros on an organic basis, a record level. Analysts on average anticipated an EBIT of 2.7 billion euros and 2025 revenue of 21.88 MdsE, according to a consensus compiled by Thales. Order intake was expected at 25.21 MdsE. For 2026, the group targets an adjusted EBIT margin between 12.6% and 12.8%, compared to 12.4% last year, with organic revenue growth between 6% and 7%. The 'Bloomberg' consensus had so far anticipated 12.8% and 7.58% respectively. Enough to disappoint some operators... https://www.boursier.com/actions/actualites/news/thales-une-guidance-legerement-decevante-979921.html
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
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2025 Q4 -tulosraportti
28 päivää sitten
‧1 t 40 min
2,95 EUR/osake
Irtoamispäivä 18.5.
1,60%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Shareville
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Kirjaudu
- ·5.3.Thales fell to €236.40 (-5.70%) on a day when the financial results were actually strong: 2025 revenue rose 7.6% to €22.1 billion, the margin increased to 12.4%, net profit rose significantly, and the dividend is proposed to be raised to €3.90 per share. It therefore does not look like a “fundamental break”, but rather a classic case of high expectations + profit-taking after a strong defense rally. When a stock has become expensive due to optimism, even good numbers can be met with “sell the news”, especially if 2026-guidance is perceived as more in line than a new big boost. Going forward, the case is less about headlines and more about execution: can Thales deliver 6–7% organic growth and raise the margin to 12.6–12.8% in 2026, while investments and potential weaknesses in cyber/digital do not erode cash flow? For investors, the most important data points in the coming quarters will be order intake/backlog quality, margin mix, and signs of stabilization in the most challenged business areas. The fall can therefore be seen as a short-term “reset” in pricing – but it is the 2026 delivery that will determine the next leg in the stock.
- ·5.3.How can it be that the stock fell when they delivered strong Q4 results? Is now the time to buy?·5.3.It has a p/e of around 50, which therefore also sets the bar high. From what I can read, it is, as shikerin writes, disappointing guidance that is being punished.
- 3.3.3.3.Thales (THLEF) Full Year 2025 Earnings Call Highlights: Record Cash Flow and Strategic Advances Amid Mixed Cyber Performance Positive Points Thales (THLEF, Financial) achieved a record high free cash flow in 2025, reinforcing its financial strength and ability to fund future growth. The company exceeded all its 2025 financial targets, including a robust improvement in profitability compared to 2024. Thales (THLEF) made significant strategic progress, including increasing production capacity to capture rising defense spending. The company continued to strengthen its R&D leadership with breakthroughs in AI, quantum, and nuclear fusion technologies. Thales (THLEF) signed an MOU with Airbus and Leonardo to create a leading European space player, enhancing Europe's strategic autonomy in space. Negative Points Cyber and digital sales were slightly down organically, reflecting a mixed performance in 2025. The cyber services segment faced challenges, particularly in the Australian market, impacting overall performance. Currency fluctuations negatively impacted reported growth, with a 1.5% headwind due to the strengthening of the Euro. The company faced a tax surcharge in France, which affected the effective tax rate and net income. Despite strong overall performance, the cyber and digital segment underperformed compared to expectations, with a need to regain lost market share Q & A Highlights Q: Could you provide guidance on the divisional growth expectations for 2026, particularly for defense, aerospace, and cyber and digital? How do you see Thales performing in the cyber market? A: For 2026, we expect organic growth between 6% and 7% at the group level. Defense is anticipated to grow at a high single-digit rate, consistent with our overall guidance. Aerospace is expected to see mid-single-digit growth, with avionics contributing significantly. In cyber and digital, we aim for mid-single-digit growth, with cyber expected to perform above this level. Our priority is to regain growth in the cyber market, which remains positive. Q: How do you view the impact of AI on the cyber market, and what is your M&A strategy in light of technological advancements? A: AI presents a significant opportunity for enhancing our cyber solutions, making them more efficient in combating cyberattacks. We are launching new solutions leveraging AI. Regarding M&A, our approach remains pragmatic and financially disciplined across all verticals, including defense, aeronautics, and cyber and digital. We are open to opportunities that align with our strategic goals. Q: Can you comment on the pricing strategy and margin expectations for the cyber and digital segment in 2026? Also, how much revenue was generated from Ukraine in 2025? A: We aim to grow the cyber product segment without compromising on pricing. Our mid-term objective is a 20% EBIT margin and 10% growth. In 2025, revenue from Ukraine was approximately €450 million, representing about 3.5% of our defense revenue. We expect this to grow to around €600 million in 2026. Q: Could you provide insights into your free cash flow conversion assumptions for 2026, particularly regarding working capital and CapEx? A: For 2026, we anticipate a free cash flow conversion ratio between 95% and 100%. CapEx is expected to increase to €820-€850 million, aligning with our strategy to invest in growth. We assume a stable working capital level, although this will depend on order intake and contract profiles. Q: What is the status of the Bromo project authorization, and has the SAM TNG contract with Denmark been confirmed? A: The Bromo project is progressing well, with constructive discussions ongoing with unions and antitrust authorities. The SAM TNG contract with Denmark is 99% secure, with no risk of not being finalized in 2026. We see significant potential for SAM TNG in Europe and the Middle East, given the increasing importance of air defense. https://www.gurufocus.com/news/8673756/thales-thlef-full-year-2025-earnings-call-highlights-record-cash-flow-and-strategic-advances-amid-mixed-cyber-performance?utm_source=yahoo_finance&utm_medium=syndication&utm_campaign=headlines&r=caf6fe0e0db70d936033da5461e60141
- 3.3. · Muokattu3.3. · MuokattuThales Grew Fast On Defense Orders, But Guidance Fell Short Sales and the order book stayed strong, yet a softer 2026 outlook and uneven cyber results helped push shares lower. France’s Thales lifted 2025 sales to €22.14 billion, but the stock slipped after it flagged a more modest 2026 outlook and uneven performance in its cyber unit. What does this mean? Thales is still riding Europe’s rearmament cycle. Defense revenue grew 12.2% organically and aerospace sales rose 8.7% to €5.91 billion, helped by strong avionics demand. Orders stayed sturdy too: intake reached €25.26 billion and the backlog climbed to €53 billion, giving the firm plenty of runway. The weak spot is cyber and digital. That division dipped 0.9% organically as management pointed to integration disruption from Imperva, and analysts at Berenberg questioned whether the late-year “improvement” was as real as advertised. When a higher-growth segment wobbles, investors tend to discount the rest of the story – even when defense is humming. Why should I care? For markets: Guidance is where the bar gets set. For 2026, Thales guided for 6%–7% organic sales growth, roughly €23.3 billion–€23.6 billion, and it assumes no fresh macro or geopolitical shocks. Berenberg said that midpoint sits below its own forecast and slightly under consensus, which helps explain the post-results drop. In other words, a big backlog supports long-term visibility, but valuation still depends on execution – especially in cyber. Zooming out: Defense spending is turning into a broader export story. Growth is spreading beyond France: sales rose 20.4% organically in continental Europe ex-France, while emerging markets and other mature markets also grew solidly. That diversification can smooth demand, but it also makes delivery riskier across more programs and regions. Thales is also keeping shareholder payouts steady, proposing a €3.90 dividend for 2025, up from €3.70. https://finimize.com/content/thales-grew-fast-on-defense-orders-but-guidance-fell-short
- ·3.3.Thales: a slightly disappointing guidance? Published on 03/03/2026 at 09:05 Boursier.com) — In a market bearish again, Thales, which had opened higher, is now losing 0.6% at 252.2 euros in early trading. The aerospace, security and defense equipment supplier reported annual results slightly above expectations, particularly thanks to its defense division and demand for its aerospace and space activities. The group thus recorded an adjusted EBIT 2025 up 14% on an organic basis year-on-year, at 2.74 billion euros. Revenue increased by 8.8% to 22.14 billion euros, with order intake improving by 1% to 25.26 billion euros on an organic basis, a record level. Analysts on average anticipated an EBIT of 2.7 billion euros and 2025 revenue of 21.88 MdsE, according to a consensus compiled by Thales. Order intake was expected at 25.21 MdsE. For 2026, the group targets an adjusted EBIT margin between 12.6% and 12.8%, compared to 12.4% last year, with organic revenue growth between 6% and 7%. The 'Bloomberg' consensus had so far anticipated 12.8% and 7.58% respectively. Enough to disappoint some operators... https://www.boursier.com/actions/actualites/news/thales-une-guidance-legerement-decevante-979921.html
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Välittäjätilasto
Dataa ei löytynyt
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 21.4. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 3.3. | ||
2025 Q3 -tulosraportti 23.10.2025 | ||
2025 Q2 -tulosraportti 23.7.2025 | ||
2025 Q1 -tulosraportti 24.4.2025 | ||
2024 Q4 -tulosraportti 4.3.2025 |
2025 Q4 -tulosraportti
28 päivää sitten
‧1 t 40 min
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 21.4. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 3.3. | ||
2025 Q3 -tulosraportti 23.10.2025 | ||
2025 Q2 -tulosraportti 23.7.2025 | ||
2025 Q1 -tulosraportti 24.4.2025 | ||
2024 Q4 -tulosraportti 4.3.2025 |
2,95 EUR/osake
Irtoamispäivä 18.5.
1,60%Tuotto/v
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- ·5.3.Thales fell to €236.40 (-5.70%) on a day when the financial results were actually strong: 2025 revenue rose 7.6% to €22.1 billion, the margin increased to 12.4%, net profit rose significantly, and the dividend is proposed to be raised to €3.90 per share. It therefore does not look like a “fundamental break”, but rather a classic case of high expectations + profit-taking after a strong defense rally. When a stock has become expensive due to optimism, even good numbers can be met with “sell the news”, especially if 2026-guidance is perceived as more in line than a new big boost. Going forward, the case is less about headlines and more about execution: can Thales deliver 6–7% organic growth and raise the margin to 12.6–12.8% in 2026, while investments and potential weaknesses in cyber/digital do not erode cash flow? For investors, the most important data points in the coming quarters will be order intake/backlog quality, margin mix, and signs of stabilization in the most challenged business areas. The fall can therefore be seen as a short-term “reset” in pricing – but it is the 2026 delivery that will determine the next leg in the stock.
- ·5.3.How can it be that the stock fell when they delivered strong Q4 results? Is now the time to buy?·5.3.It has a p/e of around 50, which therefore also sets the bar high. From what I can read, it is, as shikerin writes, disappointing guidance that is being punished.
- 3.3.3.3.Thales (THLEF) Full Year 2025 Earnings Call Highlights: Record Cash Flow and Strategic Advances Amid Mixed Cyber Performance Positive Points Thales (THLEF, Financial) achieved a record high free cash flow in 2025, reinforcing its financial strength and ability to fund future growth. The company exceeded all its 2025 financial targets, including a robust improvement in profitability compared to 2024. Thales (THLEF) made significant strategic progress, including increasing production capacity to capture rising defense spending. The company continued to strengthen its R&D leadership with breakthroughs in AI, quantum, and nuclear fusion technologies. Thales (THLEF) signed an MOU with Airbus and Leonardo to create a leading European space player, enhancing Europe's strategic autonomy in space. Negative Points Cyber and digital sales were slightly down organically, reflecting a mixed performance in 2025. The cyber services segment faced challenges, particularly in the Australian market, impacting overall performance. Currency fluctuations negatively impacted reported growth, with a 1.5% headwind due to the strengthening of the Euro. The company faced a tax surcharge in France, which affected the effective tax rate and net income. Despite strong overall performance, the cyber and digital segment underperformed compared to expectations, with a need to regain lost market share Q & A Highlights Q: Could you provide guidance on the divisional growth expectations for 2026, particularly for defense, aerospace, and cyber and digital? How do you see Thales performing in the cyber market? A: For 2026, we expect organic growth between 6% and 7% at the group level. Defense is anticipated to grow at a high single-digit rate, consistent with our overall guidance. Aerospace is expected to see mid-single-digit growth, with avionics contributing significantly. In cyber and digital, we aim for mid-single-digit growth, with cyber expected to perform above this level. Our priority is to regain growth in the cyber market, which remains positive. Q: How do you view the impact of AI on the cyber market, and what is your M&A strategy in light of technological advancements? A: AI presents a significant opportunity for enhancing our cyber solutions, making them more efficient in combating cyberattacks. We are launching new solutions leveraging AI. Regarding M&A, our approach remains pragmatic and financially disciplined across all verticals, including defense, aeronautics, and cyber and digital. We are open to opportunities that align with our strategic goals. Q: Can you comment on the pricing strategy and margin expectations for the cyber and digital segment in 2026? Also, how much revenue was generated from Ukraine in 2025? A: We aim to grow the cyber product segment without compromising on pricing. Our mid-term objective is a 20% EBIT margin and 10% growth. In 2025, revenue from Ukraine was approximately €450 million, representing about 3.5% of our defense revenue. We expect this to grow to around €600 million in 2026. Q: Could you provide insights into your free cash flow conversion assumptions for 2026, particularly regarding working capital and CapEx? A: For 2026, we anticipate a free cash flow conversion ratio between 95% and 100%. CapEx is expected to increase to €820-€850 million, aligning with our strategy to invest in growth. We assume a stable working capital level, although this will depend on order intake and contract profiles. Q: What is the status of the Bromo project authorization, and has the SAM TNG contract with Denmark been confirmed? A: The Bromo project is progressing well, with constructive discussions ongoing with unions and antitrust authorities. The SAM TNG contract with Denmark is 99% secure, with no risk of not being finalized in 2026. We see significant potential for SAM TNG in Europe and the Middle East, given the increasing importance of air defense. https://www.gurufocus.com/news/8673756/thales-thlef-full-year-2025-earnings-call-highlights-record-cash-flow-and-strategic-advances-amid-mixed-cyber-performance?utm_source=yahoo_finance&utm_medium=syndication&utm_campaign=headlines&r=caf6fe0e0db70d936033da5461e60141
- 3.3. · Muokattu3.3. · MuokattuThales Grew Fast On Defense Orders, But Guidance Fell Short Sales and the order book stayed strong, yet a softer 2026 outlook and uneven cyber results helped push shares lower. France’s Thales lifted 2025 sales to €22.14 billion, but the stock slipped after it flagged a more modest 2026 outlook and uneven performance in its cyber unit. What does this mean? Thales is still riding Europe’s rearmament cycle. Defense revenue grew 12.2% organically and aerospace sales rose 8.7% to €5.91 billion, helped by strong avionics demand. Orders stayed sturdy too: intake reached €25.26 billion and the backlog climbed to €53 billion, giving the firm plenty of runway. The weak spot is cyber and digital. That division dipped 0.9% organically as management pointed to integration disruption from Imperva, and analysts at Berenberg questioned whether the late-year “improvement” was as real as advertised. When a higher-growth segment wobbles, investors tend to discount the rest of the story – even when defense is humming. Why should I care? For markets: Guidance is where the bar gets set. For 2026, Thales guided for 6%–7% organic sales growth, roughly €23.3 billion–€23.6 billion, and it assumes no fresh macro or geopolitical shocks. Berenberg said that midpoint sits below its own forecast and slightly under consensus, which helps explain the post-results drop. In other words, a big backlog supports long-term visibility, but valuation still depends on execution – especially in cyber. Zooming out: Defense spending is turning into a broader export story. Growth is spreading beyond France: sales rose 20.4% organically in continental Europe ex-France, while emerging markets and other mature markets also grew solidly. That diversification can smooth demand, but it also makes delivery riskier across more programs and regions. Thales is also keeping shareholder payouts steady, proposing a €3.90 dividend for 2025, up from €3.70. https://finimize.com/content/thales-grew-fast-on-defense-orders-but-guidance-fell-short
- ·3.3.Thales: a slightly disappointing guidance? Published on 03/03/2026 at 09:05 Boursier.com) — In a market bearish again, Thales, which had opened higher, is now losing 0.6% at 252.2 euros in early trading. The aerospace, security and defense equipment supplier reported annual results slightly above expectations, particularly thanks to its defense division and demand for its aerospace and space activities. The group thus recorded an adjusted EBIT 2025 up 14% on an organic basis year-on-year, at 2.74 billion euros. Revenue increased by 8.8% to 22.14 billion euros, with order intake improving by 1% to 25.26 billion euros on an organic basis, a record level. Analysts on average anticipated an EBIT of 2.7 billion euros and 2025 revenue of 21.88 MdsE, according to a consensus compiled by Thales. Order intake was expected at 25.21 MdsE. For 2026, the group targets an adjusted EBIT margin between 12.6% and 12.8%, compared to 12.4% last year, with organic revenue growth between 6% and 7%. The 'Bloomberg' consensus had so far anticipated 12.8% and 7.58% respectively. Enough to disappoint some operators... https://www.boursier.com/actions/actualites/news/thales-une-guidance-legerement-decevante-979921.html
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
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