Cash flow Thales

Equities

HO

FR0000121329

Aerospace & Defense

Market Closed - Euronext Paris Other stock markets 11:35:01 2024-09-09 am EDT			After market 03:59:00 pm
145.10 ^EUR	+0.14%		145.42	+0.22%

05:17pm	Leonardo in talks on alliances and joint ventures, CEO says	RE
Sep. 05	CAC40: succumbs to the heaviness of 'luxury' and US indices	CF

173069418d057f5ff644.c9xJ8MxCFRljLojxlmk_lgZJykt1NzNICHaN4cZkPfI.HaQ_kasAOFM7eca0ph1zyWowhBlYAH49JUHAh5UDD79Dih-ltilbaSZtzQ

Published financial data: THALES

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	18.4B	16.99B	16.19B	17.57B	18.43B
Total Revenues	18.4B	16.99B	16.19B	17.57B	18.43B
Cost of Goods Sold, Total	13.88B	13.05B	12.16B	13.06B	13.66B
Gross Profit	4.52B	3.94B	4.03B	4.51B	4.77B
Selling General & Admin Expenses, Total	2.08B	1.96B	1.79B	1.95B	2.08B
R&D Expenses	1.1B	1.02B	1.03B	1.06B	1.11B
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses, Total	3.18B	2.99B	2.82B	3.02B	3.19B
Operating Income	1.34B	946M	1.21B	1.49B	1.58B
Interest Expense, Total	-62.9M	-67.3M	-54.1M	-75.9M	-160M
Interest And Investment Income	19.6M	7.6M	-	25.8M	161M
Net Interest Expenses	-43.3M	-59.7M	-54.1M	-50.1M	1.8M
Income (Loss) On Equity Invest.	142M	44.3M	104M	180M	147M
Currency Exchange Gains (Loss)	-80.8M	-73.8M	-6.9M	-27.7M	-26M
Other Non Operating Income (Expenses)	-3.6M	-7.7M	-48.4M	-70.8M	-39M
EBT, Excl. Unusual Items	1.36B	849M	1.21B	1.52B	1.66B
Restructuring Charges	-122M	-174M	-91.8M	-98.5M	-91.4M
Merger & Related Restructuring Charges	-34.3M	-5.4M	-9.1M	-17.3M	-60.4M
Impairment of Goodwill	-	-98.2M	-	-	-
Gain (Loss) On Sale Of Investments	-9.3M	48.7M	6.4M	-13.7M	85.5M
Gain (Loss) On Sale Of Assets	222M	900K	-2.2M	-1.5M	-6.3M
Asset Writedown	-	-37.2M	-	-	-
Legal Settlements	-	-	49.2M	38M	-3.8M
Other Unusual Items	34.5M	-2.2M	4.4M	-81.1M	-403M
EBT, Incl. Unusual Items	1.45B	582M	1.16B	1.35B	1.18B
Income Tax Expense	301M	90.3M	148M	225M	252M
Earnings From Continuing Operations	1.15B	492M	1.02B	1.12B	929M
Earnings Of Discontinued Operations	-	-	118M	9.1M	74.3M
Net Income to Company	1.15B	492M	1.13B	1.13B	1B
Minority Interest	-24.5M	-8.5M	-45.6M	-10.4M	20.5M
Net Income - (IS)	1.12B	483M	1.09B	1.12B	1.02B
Net Income to Common Incl Extra Items	1.12B	483M	1.09B	1.12B	1.02B
Net Income to Common Excl. Extra Items	1.12B	483M	971M	1.11B	949M
Per Share Items
Net EPS - Basic	5.28	2.27	5.12	5.29	4.91
Basic EPS - Continuing Operations	5.28	2.27	4.56	5.25	4.55
Basic Weighted Average Shares Outstanding	213M	213M	213M	212M	209M
Net EPS - Diluted	5.26	2.27	5.11	5.27	4.9
Diluted EPS - Continuing Operations	5.26	2.27	4.56	5.23	4.54
Diluted Weighted Average Shares Outstanding	213M	213M	213M	212M	209M
Normalized Basic EPS	3.88	2.46	3.33	4.44	5.07
Normalized Diluted EPS	3.87	2.45	3.33	4.43	5.06
Dividend Per Share	0.6	1.76	2.56	2.94	3.4
Payout Ratio	41.28	17.6	38.3	50.28	61.92
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	2.2B	1.85B	2.05B	2.32B	2.39B
EBITA	1.78B	1.43B	1.63B	1.91B	1.99B
EBIT	1.34B	946M	1.21B	1.49B	1.58B
Effective Tax Rate - (Ratio)	20.8	15.51	12.68	16.71	21.36
Total Current Taxes	397M	170M	304M	349M	401M
Total Deferred Taxes	-96M	-79.5M	-156M	-124M	-149M
Normalized Net Income	824M	522M	709M	940M	1.06B
Interest on Long-Term Debt	27.4M	27.3M	22.6M	26.3M	31M
Non-Cash Pension Expense	34.4M	47.4M	17.6M	34.3M	481M
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.38B	1.31B	1.23B	1.35B	1.38B
General and Administrative Expenses	634M	613M	545M	598M	621M
Research And Development Expense From Footnotes	1.13B	1.05B	1.05B	1.08B	1.13B
Stock-Based Comp., Other (Total)	47.9M	15.3M	39.4M	57.1M	53.3M
Total Stock-Based Compensation	47.9M	15.3M	39.4M	57.1M	53.3M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.93B	5B	5.05B	5.1B	3.98B
Short Term Investments	-	-	-	200M	101M
Trading Asset Securities, Total	1.4M	-	-	3.2M	-
Total Cash And Short Term Investments	2.93B	5B	5.05B	5.3B	4.08B
Accounts Receivable, Total	6.61B	6.25B	6.01B	6.06B	6.76B
Other Receivables	1.95B	1.97B	2.13B	2.37B	2.61B
Total Receivables	8.56B	8.23B	8.14B	8.44B	9.37B
Inventory	3.55B	3.33B	3.09B	3.4B	4B
Other Current Assets, Total	834M	863M	3.43B	3.87B	4.21B
Total Current Assets	15.88B	17.43B	19.7B	21.01B	21.66B
Gross Property Plant And Equipment	9.01B	9.08B	9.13B	9.5B	9.95B
Accumulated Depreciation	-5.18B	-5.51B	-5.73B	-6.02B	-6.35B
Net Property Plant And Equipment	3.83B	3.57B	3.4B	3.48B	3.6B
Long-term Investments	1.55B	1.39B	1.48B	1.72B	1.78B
Goodwill	5.98B	6.03B	5.2B	5.47B	8.94B
Other Intangibles, Total	2.75B	2.23B	1.92B	1.53B	1.25B
Loans Receivable Long-Term	174M	139M	151M	133M	154M
Deferred Tax Assets Long-Term	1B	967M	949M	1.04B	1.18B
Deferred Charges Long-Term	58.6M	51.8M	35.3M	40.6M	42M
Other Long-Term Assets, Total	-	-	-	-	190M
Total Assets	31.22B	31.81B	32.84B	34.42B	38.79B
Liabilities
Accounts Payable, Total	2.96B	2.22B	2.07B	2.51B	2.74B
Accrued Expenses, Total	2.98B	3.02B	3.26B	3.66B	4.13B
Short-term Borrowings	1.74B	2.16B	1.11B	1.27B	2.5B
Current Portion of Long-Term Debt	-	-	-	4.6M	1M
Current Portion of Leases	227M	225M	208M	208M	215M
Current Income Taxes Payable	184M	149M	141M	168M	220M
Unearned Revenue Current, Total	6.41B	6.45B	7.07B	8.31B	9.79B
Other Current Liabilities	2.99B	2.95B	4.71B	4.61B	4.63B
Total Current Liabilities	17.49B	17.18B	18.57B	20.74B	24.22B
Long-Term Debt	2.82B	3.81B	3.3B	2.69B	4.48B
Long-Term Leases	1.5B	1.41B	1.31B	1.3B	1.24B
Pension & Other Post Retirement Benefits	2.95B	3.44B	2.45B	1.91B	1.55B
Deferred Tax Liability Non Current	783M	658M	491M	397M	319M
Total Liabilities	25.54B	26.5B	26.12B	27.04B	31.82B
Common Stock, Total	640M	640M	640M	640M	631M
Additional Paid In Capital	4.07B	4.08B	4.08B	4.08B	3.71B
Retained Earnings	1.07B	710M	2.12B	3.22B	3.37B
Treasury Stock	-56.5M	-38.6M	-37.7M	-382M	-476M
Comprehensive Income and Other	-275M	-272M	-322M	-383M	-402M
Total Common Equity	5.45B	5.11B	6.48B	7.17B	6.83B
Minority Interest	233M	195M	244M	208M	139M
Total Equity	5.68B	5.31B	6.72B	7.38B	6.97B
Total Liabilities And Equity	31.22B	31.81B	32.84B	34.42B	38.79B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	213M	213M	213M	210M	207M
ECS Total Common Shares Outstanding	213M	213M	213M	210M	207M
Book Value / Share	25.61	24.03	30.43	34.14	33.05
Tangible Book Value	-3.28B	-3.15B	-638M	179M	-3.36B
Tangible Book Value Per Share	-15.44	-14.81	-3	0.85	-16.24
Total Debt	6.29B	7.61B	5.93B	5.48B	8.43B
Net Debt	3.36B	2.61B	879M	174M	4.35B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.95B	3.44B	2.45B	1.85B	1.55B
Minority Interest, Total (Incl. Fin. Div)	233M	195M	244M	208M	139M
Equity Method Investments, Total	1.33B	1.28B	1.34B	1.59B	1.65B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	1.14B	1.02B	977M	1.12B	1.32B
Inventories - Work In Process, Total	3.14B	2.96B	2.8B	2.96B	3.34B
Inventories - Finished Goods, Total	91.9M	105M	66.9M	58.7M	62.7M
Land - (BS)	62.7M	64.2M	57.6M	57.2M	65M
Buildings, Total	2.12B	2.18B	2.23B	2.27B	2.36B
Machinery, Total	-	-	-	-	-
Full Time Employees	77.76K	75.74K	76.14K	80.14K	76.3K
Part Time Employees	4.96K	4.83K	4.86K	5.12K	4.6K
Accumulated Allowance for Doubtful Accounts (Supple)	122M	154M	131M	142M	138M
Order Backlog	33.84B	34.43B	34.74B	40.96B	45.25B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.12B	483M	1.09B	1.12B	1.02B
Depreciation & Amortization - CF	646M	665M	628M	619M	612M
Amortization of Goodwill and Intangible Assets - (CF)	440M	485M	415M	421M	413M
Depreciation & Amortization, Total	1.09B	1.15B	1.04B	1.04B	1.02B
Amortization of Deferred Charges, Total - (CF)	27.4M	28.7M	19.8M	18.9M	20.2M
(Gain) Loss From Sale Of Asset	-222M	-900K	2.2M	1.5M	6.3M
(Gain) Loss on Sale of Investments - (CF)	9.3M	-48.7M	-6.4M	13.7M	-85.5M
Asset Writedown & Restructuring Costs	20.1M	194M	-54.1M	-52.1M	-15.6M
(Income) Loss On Equity Investments - (CF)	-142M	-44.3M	-104M	-180M	-147M
Net Cash From Discontinued Operations	-	-	126M	-165M	85M
Other Operating Activities, Total	211M	4.1M	-58.9M	96.5M	-488M
Change In Accounts Receivable	-321M	207M	-1.06B	-273M	-967M
Change In Inventories	-96.9M	261M	75.2M	-569M	-819M
Change In Accounts Payable	-4.5M	-703M	364M	524M	714M
Change in Unearned Revenues	92.3M	140M	1.17B	1.19B	1.27B
Change in Other Net Operating Assets	-10.8M	-325M	220M	94M	-20.8M
Cash from Operations	1.77B	1.35B	2.83B	2.86B	1.6B
Capital Expenditure	-503M	-318M	-381M	-470M	-540M
Sale of Property, Plant, and Equipment	7M	8.5M	4.9M	8.5M	3.9M
Cash Acquisitions	-4.71B	-23M	-54.7M	-418M	-3.58B
Divestitures	364M	21.6M	2.2M	28.9M	152M
Sale (Purchase) of Intangible assets	-	-77.9M	-69.6M	-64.4M	-85.4M
Investment in Marketable and Equity Securities, Total	236M	-24.2M	19.2M	-213M	-80.9M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-11.1M	26.1M	-14.2M	-3.9M	-18.5M
Other Investing Activities, Total	-	-	-	-	-86M
Cash from Investing	-4.62B	-386M	-493M	-1.13B	-4.23B
Long-Term Debt Issued, Total	1.37B	2.28B	51.1M	90.7M	3.65B
Total Debt Issued	1.37B	2.28B	51.1M	90.7M	3.65B
Long-Term Debt Repaid, Total	-733M	-976M	-1.76B	-787M	-909M
Total Debt Repaid	-733M	-976M	-1.76B	-787M	-909M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-23M	-8.9M	-26.7M	-351M	-491M
Common Dividends Paid	-463M	-85.1M	-417M	-563M	-634M
Common & Preferred Stock Dividends Paid	-463M	-85.1M	-417M	-563M	-634M
Other Financing Activities, Total	-18.3M	-12.1M	-13.5M	-41.7M	-30.2M
Cash from Financing	128M	1.2B	-2.17B	-1.65B	1.59B
Foreign Exchange Rate Adjustments	10.6M	-84M	41.8M	2.7M	-43.7M
Net Change in Cash	-2.71B	2.07B	212M	80M	-1.09B
Supplemental Items
Cash Interest Paid	53.5M	63.7M	64.8M	69M	148M
Cash Income Tax Paid (Refund)	154M	109M	145M	156M	195M
Levered Free Cash Flow	824M	1.13B	1.61B	2.42B	1.74B
Unlevered Free Cash Flow	864M	1.18B	1.64B	2.47B	1.84B
Change In Net Working Capital	632M	213M	-230M	-953M	-386M
Net Debt Issued / Repaid	633M	1.3B	-1.71B	-696M	2.75B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.96	1.88	2.35	2.77	2.69
Return on Total Capital	8.13	4.75	5.92	7.3	6.97
Return On Equity %	19.75	8.95	16.86	15.91	12.94
Return on Common Equity	20.13	9.15	16.71	16.29	13.55
Margin Analysis
Gross Profit Margin %	24.58	23.16	24.91	25.65	25.86
SG&A Margin	11.32	11.56	11.07	11.12	11.3
EBITDA Margin %	11.95	10.89	12.66	13.22	12.95
EBITA Margin %	9.69	8.42	10.06	10.87	10.79
EBIT Margin %	7.3	5.57	7.49	8.48	8.55
Income From Continuing Operations Margin %	6.23	2.9	6.28	6.39	5.04
Net Income Margin %	6.1	2.85	6.72	6.38	5.55
Net Avail. For Common Margin %	6.1	2.85	6	6.33	5.15
Normalized Net Income Margin	4.48	3.07	4.38	5.35