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Dassault Aviation
(AM)
Select Model
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Rating:76Outperform
Price Target:
€351.00
▲(17.31% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial strength (very low leverage and solid returns) and supportive technical uptrend (price above key moving averages with positive momentum). These positives are tempered by valuation (P/E ~23 with a modest ~1.6% yield) and some volatility in margins and historical cash-flow consistency.
Positive Factors
Conservative balance sheet
Very low leverage and mid‑teens ROE provide durable financial flexibility for long-cycle defense deliveries and program investments. This capital structure reduces refinancing risk, supports funding of R&D and sustainment programs, and preserves capacity to absorb delivery timing shocks.
Negative Factors
Material margin volatility
Large, rapid swings in gross margin point to sensitivity to program mix, accounting recognition or one-off items, undermining margin predictability. Persistent volatility complicates long-term margin guidance, investment prioritization and assessment of sustainable profitability across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and mid‑teens ROE provide durable financial flexibility for long-cycle defense deliveries and program investments. This capital structure reduces refinancing risk, supports funding of R&D and sustainment programs, and preserves capacity to absorb delivery timing shocks.
Read all positive factors
Dassault Aviation (AM) vs. iShares MSCI France ETF (EWQ)
Market Cap
€23.08B
Dividend Yield1.6%
Average Volume (3M)60.40K
Price to Earnings (P/E)23.1
Beta (1Y)0.71
Revenue Growth33.17%
EPS Growth29.17%
CountryFR
Employees14,573
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)12.91
Shares Outstanding77,712,746
10 Day Avg. Volume44,253
30 Day Avg. Volume60,404
Financial Highlights & Ratios
PEG Ratio3.48
Price to Book (P/B)3.21
Price to Sales (P/S)2.88
P/FCF Ratio12.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€346.25Price Target Upside15.73% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)15.4
Revenue Forecast (FY)€8.87B
Dassault Aviation Business Overview & Revenue Model
Company Description
Operating globally, Dassault Aviation Société anonyme engineers and manufactures military aircraft, executive jets, and space systems. Its product portfolio features the versatile Rafale multirole fighter, the nEUROn unmanned combat aerial vehicle...
How the Company Makes Money
Dassault Aviation makes money primarily by selling aircraft and by providing ongoing services over the lifecycle of those aircraft.
1) Military aviation (Rafale and related activities)
- New aircraft sales: A major revenue stream comes from manuf...
Dassault Aviation Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.83B | 7.43B | 6.24B | 4.80B | 6.95B | 7.25B |
| Gross Profit | 1.94B | 574.44M | 2.36B | 1.80B | 601.05M | 956.24M |
| EBITDA | 975.77M | 799.56M | 666.33M | 1.01B | 773.54M | 691.13M |
| Net Income | 1.00B | 977.25M | 923.82M | 693.40M | 716.23M | 605.39M |
Balance Sheet | ||||||
| Total Assets | 34.18B | 32.89B | 29.11B | 23.49B | 22.54B | 16.22B |
| Cash, Cash Equivalents and Short-Term Investments | 10.11B | 9.44B | 8.49B | 7.37B | 9.63B | 4.98B |
| Total Debt | 200.65M | 203.05M | 237.76M | 262.44M | 233.65M | 226.35M |
| Total Liabilities | 27.62B | 26.23B | 22.78B | 17.75B | 16.53B | 10.92B |
| Stockholders Equity | 6.56B | 6.66B | 6.33B | 5.74B | 6.01B | 5.30B |
Cash Flow | ||||||
| Free Cash Flow | 1.34B | 1.65B | 1.54B | -1.02B | 4.93B | 1.49B |
| Operating Cash Flow | 1.46B | 1.85B | 1.88B | -672.61M | 5.11B | 1.66B |
| Investing Cash Flow | -1.72B | -840.78M | -1.26B | -877.83M | -4.89B | -213.64M |
| Financing Cash Flow | -740.15M | -613.88M | -479.65M | -964.51M | -299.36M | -159.54M |
Dassault Aviation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €23.08B | 23.10 | 15.61% | 1.60% | 33.17% | 29.17% | |
74 Outperform | €141.08B | 36.35 | 51.15% | 1.02% | 14.27% | -9.86% | |
73 Outperform | €159.18B | 26.89 | 19.56% | 1.53% | 9.96% | 20.55% | |
70 Outperform | €50.54B | 33.78 | 18.73% | 1.65% | 6.89% | 118.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | €478.72M | 121.11 | 0.68% | ― | 12.61% | -86.29% | |
45 Neutral | €188.29M | -5.92 | -33.18% | ― | 7.21% | 47.92% |
* General Sector Average
FR:AM
Dassault Aviation
316.20
52.12
19.74%
FR:AIR
Airbus Group SE
213.60
40.58
23.45%
FR:LAT
Latecoere
0.02
<0.01
15.38%
FR:SAF
SAFRAN SA
357.40
69.44
24.11%
FR:HO
Thales
264.80
39.86
17.72%
FR:FGA
Figeac Aero SA
11.70
1.60
15.84%
Dassault Aviation Corporate Events
Dassault Aviation Publishes 2026 First-Half Financial Report
Jul 22, 2026
Dassault Aviation has published its financial report for the first half of 2026, covering results as of 30 June, and has filed the document with the French Financial Markets Authority. The report is now accessible to investors and the public via t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.