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Last updated : 25/09/2026 - 12h36
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Thales stock among neglected CAC 40 values, down 8.5% in one month

The defense and aerospace equipment manufacturer's share is losing ground this Friday morning, in a CAC 40 that is progressing slightly. The technical configuration remains deteriorated, with the price still evolving below its three key moving averages, while the group has just inaugurated a space dedicated to aviation safety on its Bordeaux campus.


Thales stock among neglected CAC 40 values, down 8.5% in one month

Thales held below its three moving averages in a rising Paris session

Thales is down 1.08% to €229.70 in trading, ranking among the strongest declines in the CAC 40, while the Paris index is gaining 0.35%. This behavioral divergence extends the negative momentum of recent weeks: the share has lost 8.49% over one month, after consolidating much of the spring rebound. The price remains below its three reference moving averages, namely the MA20 at €235.80, the MA50 at €244.86 and the MA200 at €243.16, with respective gaps of 2.59%, 6.19% and 5.54%.

This position below the three moving averages signals persistent selling pressure. However, the MACD offers a slight nuance: its histogram is positive at 1.21, which reflects a reduction in the current bearish divergence, even if the signal remains oriented toward selling. The support level at €225.10 is now the key level to monitor to assess the share's resilience at this threshold.

The Bordeaux Flight Safety Center illustrates the group's aeronautical expansion strategy

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Thales inaugurated yesterday on its Bordeaux campus an immersive space called the "Flight Safety Center", presented as the first stage of a rollout planned across several group sites. This initiative aims to disseminate aviation safety culture throughout the civil and military aeronautical ecosystem. It is part of a broader dynamic of positioning the group on training and simulation issues, without constituting an element likely to explain on its own the movement in the share price today.

Against a backdrop of persistent geopolitical tensions in the Middle East and a strong dollar following solid U.S. statistics, European markets remain under pressure on valuations. The share shows a decline of 10.38% over one year, and the support level at €225.10 represents the next reference zone for short-term momentum.



Sector Aéronautique et Défense › Défense


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 10 949 millions d'euros
  • Quarterly revenue: 10 949 millions d'euros
  • Revenue growth: 6,7 %
  • EBITDA: 1 150 millions d'euros
  • Net income: 485 millions d'euros
  • Free cash flow: 1 865 millions d'euros
  • 519,2 millions d'euros
Risks mentioned
  • Résiliation du programme F126 par l'Allemagne : charge exceptionnelle de 450 M€, impact de 331 M€ sur le résultat net
  • Annulation d'une commande de deux satellites géostationnaires, impact d'environ -150 M€ sur les ventes Spatial
  • Marge Cyber & Digital en baisse à 10,9 % contre 14,4 %, notamment dans les Paiements et l'Identité/Biométrie
Opportunities identified
  • 18 grandes commandes de plus de 100 M€ pour 4 850 M€, dont 11 au deuxième trimestre
  • Carnet de commandes Défense de 41,1 milliards d'euros, soit environ 3,2 années de chiffre d'affaires
  • Très forte progression au Proche et Moyen-Orient (+202 % en organique en prises de commandes)
Outlook / guidance
  • Expected revenue: 23 600 millions d'euros
  • Management commentary: Organic sales growth expected between +6% and +7%, corresponding to sales of €23.3 to €23.6 billion; Adjusted EBIT margin expected between 12.6% and 12.8%

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.

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