Thales Shares Fall 2.76% Contrary to a Rising CAC 40
Shares of the defense and technology group fell by 2.76% to 260.80 euros this Friday, while the CAC 40 index rose by 0.80% during the session. This decline follows a challenging week for Thales, with its stock price down 2.51% over the past seven days.
Thales Among the Sharpest Decliners in SBF 120 Despite Market Gains
In today's session, Thales displayed one of the sharpest declines among the SBF 120 stocks, which overall gained 0.80%. The stock traded at 260.80 euros, down 7.40 euros from yesterday's close of 268.20 euros. Over a three-month period, the performance has been slightly negative at -1.96%, although the stock has maintained a gain of 10.65% over the past year. This downward movement contrasts with the trends seen in other major European industrial stocks: Schneider Electric is up 1.74% and ASML Holding by 1.34% during the session. Thales is also trading close to its resistance threshold at 270.30 euros, a level it has struggled to surpass in recent days. This technical rejection could partly explain the reversal observed this Friday. The group's general assembly is scheduled for May 12, which could provide new directions regarding the company's strategy.
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From a technical analysis standpoint, the stock remains above its main moving averages: the 50-day moving average (MM50) is at 252.49 euros and the 200-day moving average (MM200) at 245.08 euros, indicating an underlying upward trend despite today's decline. The current price, at 260.80 euros, is still about 8 euros above the MM50, showing some resilience in the medium-term upward trend. The RSI, an indicator measuring buying and selling momentum, is at 61, which is in a neutral to slightly positive zone, indicating neither overbought nor oversold conditions. Regarding Bollinger Bands, the stock is positioned in the upper part of the channel (71% of the band), between an upper limit at 272.86 euros and a lower limit at 231.23 euros. This high positioning in the channel, combined with the rejection below the 270.30 euros resistance, could signify a technical exhaustion in the short term. The support level to watch is at 236.40 euros, significantly below current levels.
Net income: 2 005 millions d'euros (Résultat Net Ajusté, part du Groupe)
Free cash flow: 2 577 millions d'euros
-1 618 millions d'euros
Dividend per share: 3,90 €
Payout ratio: 40 %
Guidance from the release
2025 a été une très bonne année avec des commandes records et une croissance du chiffre d’affaires, démontrant l’excellence opérationnelle du Groupe.
Communiqué indiquant des commandes records, un chiffre d’affaires en hausse et une rentabilité améliorée en 2025, avec des perspectives 2026 positives et un dividende soutenu.
Outlook / guidance
Expected revenue: Entre 23,3 et 23,6 milliards d'euros en 2026
Expected EBITDA: Non précisé publiquement
Expected net income: Non précisé publiquement
Management commentary: Pour 2026, Thales vise un book-to-bill supérieur à 1 et une croissance organique du chiffre d’affaires entre 6 % et 7 %, correspondant à un chiffre d’affaires entre 23,3 et 23,6 milliards d’euros, et une marge d’EBIT Ajusté entre 12,6 % et 12,8 %; le taux de conversion en cash devrait se situer entre 95 % et 100 %.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
