Dassault Aviation Shares Drop 2.21% Approaching Support at €290.60
The French aircraft manufacturer loses ground in the mid-afternoon on the Parisian market. The stock is among the biggest losers in the SBF 120, in a Parisian market trending downward. The annual general meeting of shareholders is scheduled for next week.
A Session in the Red Near a Sensitive Technical Threshold
Dassault Aviation's stock falls by 2.21% to €292.00, down from €298.60 the previous day. The stock ranks 115th out of 120 in the SBF 120, at the bottom of the table alongside Thales (-2.46%) and Air France-KLM (-2.92%). The CAC 40 is down 0.77% at 8,139.19 points during the session, while the SBF 120 drops 0.72%.
The price approaches its support at €290.60, a level that had not been tested for several weeks. The Bollinger bands place the lower boundary at €280.23, with the stock moving in the lower part of the channel. The RSI at 39 reflects the erosion observed since mid-April, without entering an oversold zone. The decline is part of a broader dynamic: the stock is down 7.89% over three months and 8.81% over a year. As a reminder, on April 24, the stock had already slipped below €300 while testing its 200-day moving average, now at €296.28.
Heading Towards the General Meeting on May 13
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The financial calendar schedules the general meeting of shareholders for May 13, 2026, which is next Wednesday. This statutory meeting comes as the stock has experienced a bumpy ride since reaching a historic high of €339.40 in February. The 50-day moving average, at €325.31, remains more than 11% above the current price, indicating a deterioration in the medium-term trend.
The defense sector shows a negative hue during the session, with Thales (-2.46%) also in the lower zone of the SBF 120. Safran limits its decline to 1.02%. The beta of -0.17 indicates a historical decorrelation of the stock from the market, but this characteristic does not play in its favor this Friday. After the meeting on May 13, the next key dates are the first half 2026 results on July 22, followed by the third quarter publication on October 28. The support at €290.60 remains the short-term technical reference level.
Le Rafale a confirmé son succès en 2025, avec la livraison du 300 ème Rafale et la commande de 26 Rafale par la Marine indienne.
Dassault Aviation présente des résultats 2025 conformes à l’évolution attendue: chiffre d’affaires consolidé IFRS de 7 426 millions d’euros, résultat opérationnel consolidé IFRS de 639 millions d’euros, résultat net consolidé IFRS de 977 millions d’euros et marge nette consolidée IFRS de 13,2%. Trésorerie disponible à 9 415 millions d’euros. Carnet de commandes consolidé à 46 596 millions d’euros et ratio book-to-bill de 1,5x. Dividendes proposés de 4,78 euros par action (payout d’environ 35%). Pour 2026, le chiffre d’affaires est anticipé autour de 8,5 milliards d’euros avec 40 Falcon et 28 Rafale prévus.
Risks mentioned
Incertitudes liées aux contextes militaires, géopolitiques et budgétaires, couplés aux droits de douane et à l’incertitude sur le SCAF.
Pression fiscale dégrade la compétitivité de la Société.
Incertitudes liées au droit de douane américain au 1er semestre 2025 et à l’évolution du Make in India.
Opportunities identified
Progression possible grâce au Make in India et à la coopération avec des partenaires indiens (DRAL, Tata Advanced Systems).
Poursuite du développement et de la modernisation des programmes Rafale/Falcon et du SCAF, ARCHANGE et ALBATROS; potentiel d’accroître les exports.
Partenariats pour une IA souveraine et maîtrisée avec AMIAD, Thales (cortAIx) et Harmattan AI.
Outlook / guidance
Expected revenue: 8,5 milliards d'euros (2026)
Management commentary: La prévision pour 2026 prévoit un chiffre d’affaires en hausse par rapport à 2025, à 8,5 milliards d’euros, soutenu par les livraisons prévues de Rafale et Falcon (40 Falcon et 28 Rafale).
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