Thales

HO · Euronext Paris · EUR

€222.70−1.15%−€2.60

Close · October 2, 2026

At a glance

Revenue growth: +7.58%; 2025 vs 2024
Net income growth: +17.96%; 2025 vs 2024
Net margin: 7.6%; 2024: 6.9%

Financial data

Amounts in millions of EUR; per-share values in EUR; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q4 2025	Q2 2025	Q4 2024	Q2 2024	Q4 2023	Q2 2023	Q4 2022	Q2 2022	Q4 2021
Total assets	40,008	39,155	38,887	39,990	38,176	38,786	35,193	34,421	33,311	32,835
Current assets	21,915	21,322	21,033	21,295	19,883	21,657	21,892	21,014	20,122	19,704
Cash and equivalents	4,997	4,447	3,837	4,767	3,803	3,980	4,206	5,100	4,253	5,049
Short-term investments	58.9	44.6	49.8	0.9	13.7	101	721	201	209	—
Receivables	10,188	10,825	10,615	10,561	10,026	9,372	8,972	8,436	8,533	8,139
Inventory	5,655	4,834	5,419	4,747	5,128	3,997	4,268	3,401	3,759	3,089
Net property, plant and equipment	4,016	3,899	3,707	3,716	3,583	3,596	3,450	3,479	3,381	3,399
Goodwill	8,644	8,531	8,529	8,899	9,244	8,940	5,412	5,470	5,200	5,203
Other intangible assets	1,845	1,954	2,131	2,490	2,051	1,246	1,438	1,525	1,788	1,908
Long-term investments	1,817	1,853	1,743	1,809	1,762	1,778	1,726	1,717	1,659	1,484
Current liabilities	26,446	25,239	25,542	25,657	23,557	24,225	21,627	20,743	19,699	18,568
Accounts payable	9,439	2,953	8,078	3,008	7,713	2,741	7,197	2,508	6,692	2,069
Long-term debt	2,160	2,890	2,663	3,387	3,752	4,480	2,483	2,695	2,478	3,302
Total debt	5,576	6,130	7,314	—	—	—	—	—	—	—
Total liabilities	31,991	31,168	31,721	32,432	30,789	31,817	27,922	27,039	25,539	26,116
Total equity (incl. minority)	8,018	7,988	7,166	7,558	7,387	6,969	7,271	7,382	7,773	6,719
Retained earnings	4,880	5,001	4,151	4,079	3,881	3,372	—	3,222	3,378	2,117
Minority interest	10.8	19.3	28.3	42.9	104	139	157	208	184	244