Thales S.A
Thales S.A. provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide. The company offers advance air defence systems, combat systems, defence onboard electronics c4isr solutions, command and control solutions, mission and surveillance systems, airborne optronics, and airspace protection solutions; collaborative combat, intell… Read more
Thales S.A (THLEF) - Net Assets
Latest net assets as of June 2025: $7.17 Billion USD
Based on the latest financial reports, Thales S.A (THLEF) has net assets worth $7.17 Billion USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($38.89 Billion) and total liabilities ($31.72 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $7.17 Billion |
| % of Total Assets | 18.43% |
| Annual Growth Rate | 5.57% |
| 5-Year Change | 42.34% |
| 10-Year Change | 52.94% |
| Growth Volatility | 18.0 |
Thales S.A - Net Assets Trend (2001–2024)
This chart illustrates how Thales S.A's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Thales S.A (2001–2024)
The table below shows the annual net assets of Thales S.A from 2001 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $7.56 Billion | +8.45% |
| 2023-12-31 | $6.97 Billion | -5.59% |
| 2022-12-31 | $7.38 Billion | +9.77% |
| 2021-12-31 | $6.72 Billion | +26.64% |
| 2020-12-31 | $5.31 Billion | -6.55% |
| 2019-12-31 | $5.68 Billion | -4.09% |
| 2018-12-31 | $5.92 Billion | +6.64% |
| 2017-12-31 | $5.56 Billion | +14.17% |
| 2016-12-31 | $4.87 Billion | -1.53% |
| 2015-12-31 | $4.94 Billion | +21.42% |
| 2014-12-31 | $4.07 Billion | +3.27% |
| 2013-12-31 | $3.94 Billion | -14.07% |
| 2012-12-31 | $4.59 Billion | +11.05% |
| 2011-12-31 | $4.13 Billion | +12.19% |
| 2010-12-31 | $3.68 Billion | -1.93% |
| 2009-12-31 | $3.75 Billion | -5.01% |
| 2008-12-31 | $3.95 Billion | +1.83% |
| 2007-12-31 | $3.88 Billion | +69.16% |
| 2006-12-31 | $2.29 Billion | +9.10% |
| 2005-12-31 | $2.10 Billion | +31.32% |
| 2004-12-31 | $1.60 Billion | -22.18% |
| 2003-12-31 | $2.06 Billion | -5.08% |
| 2002-12-31 | $2.17 Billion | -0.27% |
| 2001-12-31 | $2.17 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thales S.A's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 407930000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.08 Billion | 54.28% |
| Common Stock | $617.80 Million | 8.22% |
| Other Components | $2.82 Billion | 37.50% |
| Total Equity | $7.52 Billion | 100.00% |
Thales S.A Competitors by Market Cap
The table below lists competitors of Thales S.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nebius Group N.V.
NASDAQ:NBIS
|
$23.11 Billion |
|
Ulta Beauty Inc
NASDAQ:ULTA
|
$23.11 Billion |
|
RWE Aktiengesellschaft
PINK:RWNFF
|
$23.13 Billion |
|
Flex Ltd
NASDAQ:FLEX
|
$23.15 Billion |
|
Weichai Power Co Ltd Class A
SHE:000338
|
$22.99 Billion |
|
Church & Dwight Company Inc
NYSE:CHD
|
$22.97 Billion |
|
CRRC Corporation Limited
PINK:CRCCY
|
$22.96 Billion |
|
Volkswagen AG
PINK:VLKAF
|
$22.93 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thales S.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,830,000,000 to 7,515,200,000, a change of 685,200,000 (10.0%).
- Net income of 1,419,500,000 contributed positively to equity growth.
- Dividend payments of 708,400,000 reduced retained earnings.
- Share repurchases of 275,400,000 reduced equity.
- Other comprehensive income increased equity by 402,200,000.
- Other factors decreased equity by 152,700,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.42 Billion | +18.89% |
| Dividends Paid | $708.40 Million | -9.43% |
| Share Repurchases | $275.40 Million | -3.66% |
| Other Comprehensive Income | $402.20 Million | +5.35% |
| Other Changes | $-152.70 Million | -2.03% |
| Total Change | $- | 10.03% |
Book Value vs Market Value Analysis
This analysis compares Thales S.A's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.10x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 19.76x to 7.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | $13.11 | $259.10 | x |
| 2002-12-31 | $13.37 | $259.10 | x |
| 2003-12-31 | $12.15 | $259.10 | x |
| 2004-12-31 | $8.96 | $259.10 | x |
| 2005-12-31 | $11.32 | $259.10 | x |
| 2006-12-31 | $12.66 | $259.10 | x |
| 2007-12-31 | $19.75 | $259.10 | x |
| 2008-12-31 | $20.12 | $259.10 | x |
| 2009-12-31 | $19.15 | $259.10 | x |
| 2010-12-31 | $18.73 | $259.10 | x |
| 2011-12-31 | $20.94 | $259.10 | x |
| 2012-12-31 | $22.96 | $259.10 | x |
| 2013-12-31 | $19.40 | $259.10 | x |
| 2014-12-31 | $18.19 | $259.10 | x |
| 2015-12-31 | $22.03 | $259.10 | x |
| 2016-12-31 | $21.75 | $259.10 | x |
| 2017-12-31 | $24.98 | $259.10 | x |
| 2018-12-31 | $26.72 | $259.10 | x |
| 2019-12-31 | $25.57 | $259.10 | x |
| 2020-12-31 | $24.16 | $259.10 | x |
| 2021-12-31 | $30.41 | $259.10 | x |
| 2022-12-31 | $33.78 | $259.10 | x |
| 2023-12-31 | $32.65 | $259.10 | x |
| 2024-12-31 | $36.48 | $259.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thales S.A utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 18.89%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.90%
- • Asset Turnover: 0.51x
- • Equity Multiplier: 5.32x
- Recent ROE (18.89%) is above the historical average (12.46%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | -17.29% | -3.57% | 0.53x | 9.14x | $-578.03 Million |
| 2002 | 5.27% | 1.00% | 0.61x | 8.63x | $-99.89 Million |
| 2003 | 5.70% | 1.06% | 0.58x | 9.31x | $-84.70 Million |
| 2004 | 21.01% | 3.17% | 0.76x | 8.72x | $170.59 Million |
| 2005 | 16.52% | 3.25% | 0.74x | 6.87x | $131.82 Million |
| 2006 | 17.02% | 3.78% | 0.68x | 6.59x | $160.08 Million |
| 2007 | 22.89% | 7.22% | 0.69x | 4.56x | $499.64 Million |
| 2008 | 14.18% | 4.42% | 0.71x | 4.54x | $165.01 Million |
| 2009 | -5.39% | -1.57% | 0.72x | 4.81x | $-575.96 Million |
| 2010 | -2.93% | -0.82% | 0.69x | 5.18x | $-474.78 Million |
| 2011 | 12.42% | 3.93% | 0.62x | 5.12x | $99.78 Million |
| 2012 | 12.79% | 4.14% | 0.66x | 4.66x | $127.88 Million |
| 2013 | 14.66% | 4.04% | 0.66x | 5.50x | $182.30 Million |
| 2014 | 18.94% | 5.51% | 0.65x | 5.30x | $337.06 Million |
| 2015 | 16.47% | 5.44% | 0.65x | 4.64x | $300.51 Million |
| 2016 | 20.40% | 6.36% | 0.66x | 4.89x | $482.39 Million |
| 2017 | 12.76% | 4.30% | 0.68x | 4.38x | $147.21 Million |
| 2018 | 17.23% | 6.19% | 0.62x | 4.48x | $411.84 Million |
| 2019 | 20.59% | 6.10% | 0.59x | 5.73x | $576.98 Million |
| 2020 | 9.40% | 3.14% | 0.48x | 6.19x | $-30.84 Million |
| 2021 | 16.80% | 6.72% | 0.49x | 5.07x | $440.79 Million |
| 2022 | 15.62% | 6.38% | 0.51x | 4.80x | $403.21 Million |
| 2023 | 14.98% | 5.55% | 0.48x | 5.68x | $340.40 Million |
| 2024 | 18.89% | 6.90% | 0.51x | 5.32x | $667.98 Million |
Industry Comparison
This section compares Thales S.A's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $301,480,945
- Average return on equity (ROE) among peers: 29.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thales S.A (THLEF) | $7.17 Billion | -17.29% | 4.43x | $23.05 Billion |
| Alabama Aircraft Industries Inc (AAIIQ) | $3.00 Million | 70.00% | 22.83x | $0.97 |
| AAC Clyde Space AB (ACCMF) | $662.75 Million | -6.24% | 0.42x | $49.09 Million |
| Archer Aviation Inc (ACHR) | $698.90 Million | -49.76% | 0.10x | $3.44 Billion |
| American Defense Systems Inc (ADFS) | $9.01 Million | 34.56% | 0.45x | $4.85K |
| AAR Corp (AIR) | $866.00 Million | 7.82% | 1.54x | $4.16 Billion |
| Air Industries Group (AIRI) | $21.61 Million | 17.30% | 1.32x | $12.09 Million |
| AIRO Group Holdings, Inc. Common Stock (AIRO) | $548.73 Million | -7.05% | 0.28x | $168.72 Million |
| Philly Shipyard ASA (AKRRF) | $155.58 Million | 43.21% | 0.63x | $13.32 Million |
| ASI Aviation Inc (ASAV) | $6.88 | 150.58% | 2.47x | $2.48 Million |
| Astronics Corporation (ATRO) | $49.23 Million | 31.26% | 1.11x | $2.35 Billion |