(AM) Dassault Aviation - Ratings and Ratios
Fighter, Drone, Jet, Surveillance, Maintenance
Dividends
| Dividend Yield | 1.75% |
| Yield on Cost 5y | 5.52% |
| Yield CAGR 5y | -35.05% |
| Payout Consistency | 86.0% |
| Payout Ratio | 47.2% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 29.8% |
| Value at Risk 5%th | 43.0% |
| Relative Tail Risk | -12.30% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.11 |
| Alpha | 40.47 |
| CAGR/Max DD | 0.95 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.342 |
| Beta | -0.047 |
| Beta Downside | 0.017 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.02% |
| Mean DD | 6.76% |
| Median DD | 5.97% |
Description: AM Dassault Aviation October 16, 2025
Dassault Aviation SA (ticker AM) designs, manufactures, and supports a diversified portfolio that includes military aircraft, business jets, and space systems, operating from facilities in France, the United States, and other international locations.
Key products comprise the Rafale omni-role fighter, the nEUROn unmanned combat drone, and the Falcon family of business jets, together with multi-mission platforms for maritime surveillance, training, scientific research, intelligence, and medevac missions.
The company manages an operational fleet of roughly 2,100 Falcon jets and 1,000 military aircraft, and it offers a suite of aftermarket services such as aircraft maintenance, landing-gear and flight-control repairs, civil-aviation equipment overhauls, and aircraft leasing for public passenger transport.
Dassault also develops and sells simulation tools that support pilot training and mission planning, extending its revenue streams beyond hardware sales.
Recent data (FY 2024) show a ~ €10 bn revenue run-rate, with the Falcon business contributing about 55 % of total sales and the Rafale program delivering a backlog of €7 bn-both figures reflecting strong demand in the high-margin business-jet market and sustained French defense spending, which is projected to grow ~3 % annually through 2028. Additionally, the global aerospace aftermarket is expanding at ~4 % CAGR, providing a secular tailwind for Dassault’s service and leasing operations.
For a deeper, data-driven assessment of Dassault’s valuation and risk profile, you may find it useful to explore the detailed analyst toolkit on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income (1.59b TTM) > 0 and > 6% of Revenue (6% = 700.8m TTM) |
| FCFTA 0.10 (>2.0%) and ΔFCFTA 0.82pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 10.98% (prev 25.92%; Δ -14.94pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.12 (>3.0%) and CFO 3.92b > Net Income 1.59b (YES >=105%, WARN >=100%) |
| Net Debt (-2.13b) to EBITDA (1.23b) ratio: -1.73 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.05 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (78.2m) change vs 12m ago -4.92% (target <= -2.0% for YES) |
| Gross Margin 40.43% (prev 4.76%; Δ 35.67pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 42.80% (prev 27.34%; Δ 15.46pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 20.55 (EBITDA TTM 1.23b / Interest Expense TTM 43.7m) >= 6 (WARN >= 3) |
ValueRay F-Score (Strict, 0-100) 76.30
| 1. Piotroski 8.0pt |
| 2. FCF Yield 16.85% |
| 3. FCF Margin 28.29% |
| 4. Debt/Equity 0.03 |
| 5. Debt/Ebitda -1.73 |
| 6. ROIC - WACC (= 5.17)% |
| 7. RoE 26.31% |
| 8. Rev. Trend -23.72% |
| 9. EPS Trend -13.15% |
What is the price of AM shares?
Over the past week, the price has changed by -0.37%, over one month by -0.74%, over three months by +0.15% and over the past year by +41.19%.
Is AM a buy, sell or hold?
What are the forecasts/targets for the AM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 325.1 | 20.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 321.9 | 19.4% |
AM Fundamental Data Overview December 06, 2025
Market Cap EUR = 21.09b (21.09b EUR * 1.0 EUR.EUR)
P/E Trailing = 27.1071
P/E Forward = 16.0514
P/S = 3.1349
P/B = 3.3885
P/EG = 1.228
Beta = 0.42
Revenue TTM = 11.68b EUR
EBIT TTM = 898.4m EUR
EBITDA TTM = 1.23b EUR
Long Term Debt = 16.7m EUR (from longTermDebt, last quarter)
Short Term Debt = 31.1m EUR (from shortTermDebt, last quarter)
Debt = 203.7m EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.13b EUR (from netDebt column, last quarter)
Enterprise Value = 19.61b EUR (21.09b + Debt 203.7m - CCE 1.69b)
Interest Coverage Ratio = 20.55 (Ebit TTM 898.4m / Interest Expense TTM 43.7m)
FCF Yield = 16.85% (FCF TTM 3.30b / Enterprise Value 19.61b)
FCF Margin = 28.29% (FCF TTM 3.30b / Revenue TTM 11.68b)
Net Margin = 13.61% (Net Income TTM 1.59b / Revenue TTM 11.68b)
Gross Margin = 40.43% ((Revenue TTM 11.68b - Cost of Revenue TTM 6.96b) / Revenue TTM)
Gross Margin QoQ = 41.96% (prev 60.60%)
Tobins Q-Ratio = 0.61 (Enterprise Value 19.61b / Total Assets 32.13b)
Interest Expense / Debt = 1.95% (Interest Expense 3.98m / Debt 203.7m)
Taxrate = 25.55% (114.8m / 449.2m)
NOPAT = 668.8m (EBIT 898.4m * (1 - 25.55%))
Current Ratio = 1.05 (Total Current Assets 27.05b / Total Current Liabilities 25.77b)
Debt / Equity = 0.03 (Debt 203.7m / totalStockholderEquity, last quarter 6.19b)
Debt / EBITDA = -1.73 (Net Debt -2.13b / EBITDA 1.23b)
Debt / FCF = -0.64 (Net Debt -2.13b / FCF TTM 3.30b)
Total Stockholder Equity = 6.04b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.95% (Net Income 1.59b / Total Assets 32.13b)
RoE = 26.31% (Net Income TTM 1.59b / Total Stockholder Equity 6.04b)
RoCE = 14.82% (EBIT 898.4m / Capital Employed (Equity 6.04b + L.T.Debt 16.7m))
RoIC = 10.97% (NOPAT 668.8m / Invested Capital 6.10b)
WACC = 5.80% (E(21.09b)/V(21.29b) * Re(5.84%) + D(203.7m)/V(21.29b) * Rd(1.95%) * (1-Tc(0.26)))
Discount Rate = 5.84% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.83%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈2.83b ; Y1≈1.86b ; Y5≈850.6m
Fair Price DCF = 214.7 (DCF Value 16.72b / Shares Outstanding 77.9m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -13.15 | EPS CAGR: -39.26% | SUE: 0.0 | # QB: 0
Revenue Correlation: -23.72 | Revenue CAGR: 1.35% | SUE: 0.16 | # QB: 0
EPS next Year (2026-12-31): EPS=17.28 | Chg30d=+0.052 | Revisions Net=-2 | Growth EPS=+29.9% | Growth Revenue=+25.0%