Thales Stock: Leading the CAC 40, Targeting the Key Zone of €243-245
The defense electronics group's stock records the best performance of the CAC 40 at midday, while the Paris index trends downward. The rebound comes after several weeks of significant consolidation, bringing the stock back to closely watched technical thresholds.
Thales Leads the CAC 40, Supported by Aerospace and Defense
Thales is up 2.57% at €239.20 in mid-morning trading, leading the CAC 40, which has fallen by 0.33%. The group is ahead of STMicroelectronics (+2.16%), Airbus (+1.14%), and Safran (+1.04%), indicating that the aerospace and defense sectors are bolstering the Parisian market this morning. Over the week, the stock has gained 4.23%, continuing the movement that began on May 19 after a downward trend. Over three months, the performance remains negative (-6.16%), and the year-on-year return is still in the red (-10.38%). The rebound that started last week around €228 is thus confirmed at the end of May, in a favorable sectoral context for European defense.
The Stock Reapproaches its 50 and 200 Day Moving Averages
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Today's rebound brings Thales just below its 50 and 200 day moving averages, located respectively at €243.04 and €244.55, representing a gap of about 1.6% and 2.2% from the current price. However, the stock has already crossed above its 20 day average (€229.14), breached during the mid-May rebound. The RSI at 49 has returned to a neutral zone, after entering oversold territory in early May which accompanied the breach of the €230 support level. The MACD remains in negative territory (-5.10) but its histogram has turned positive (+2.16), indicating a waning selling momentum. The €243-245 zone, where the two long averages converge, is now the next technical threshold to watch to confirm an exit from the bearish channel established over the past three months. The reference support remains at €219.40, a level that was not tested during the early month low.
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 %.
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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.
