Thales Stock: Over 2% Decline Despite Upward Trend Over Three Months
Thales shares fell sharply this Monday, February 23, down 2.19% to 258.60 euros after closing at 264.40 euros on Friday. This decline occurs in a context of significant progression over the past weeks, with a gain of nearly 14% over three months and more than 40% over a year. The publication of annual results, scheduled for March 3, is the next major event for the defense and technology group.
Thales stock is trading lower this Monday, but this decline is part of an overall bullish market trajectory. Over seven days, the stock still shows an increase of 5.47%, while the annual growth reaches 41.89%, highlighting the strength of the group in a defense sector experiencing budget expansions in Europe. From a technical perspective, the price remains above its 50-day moving average, which is at 248.55 euros, confirming a bullish medium-term orientation. The RSI, at 57, indicates a neutral situation, away from overbought zones, leaving room before a potential technical exhaustion. The most immediate resistance is at 270.20 euros, a threshold the stock has not managed to surpass in recent sessions, which partly explains the correction observed today.
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Attention now turns to the publication of the annual accounts, scheduled for March 3, 2026. This event will be crucial in assessing the operational trajectory of the group, particularly the dynamics of order intake and margin evolution in its defense, aerospace, and cybersecurity activities. The past year has been marked by repeated announcements of increased military budgets in Europe, with Thales being among the primary industrial beneficiaries. The general meeting of shareholders is set for May 12. Until then, the monthly volatility of the stock remains contained at 8.64, and the very low beta, at 0.08, shows a behavior largely decoupled from general market fluctuations. This defensive profile distinguishes Thales within the Paris stock exchange, a few days before a financial deadline that could redefine the outlook for the stock for the current year.
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.
