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Dassault Aviation
(AM)
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Rating:70Outperform
Price Target:
€317.00
▼(-2.94% Downside)
Action:Reiterated
Date:03/07/26
The score is driven primarily by strong financial performance, especially the low-leverage balance sheet and solid profitability, tempered by revenue/margin variability and historically volatile cash flows. Technicals are mixed with short-term weakness despite longer-term trend support, while valuation appears moderate with a modest dividend yield.
Positive Factors
Conservative balance sheet / low leverage
Very low leverage and steadily growing equity give Dassault lasting financial flexibility to fund R&D, absorb program delays, and pursue exports or follow-on support contracts. A conservative balance sheet reduces refinancing risk and supports long-term capital allocation amid aerospace cycles.
Negative Factors
Revenue & margin volatility
Large swings in gross and operating margins indicate program mix, cost absorption, or accounting timing effects that reduce earnings predictability. Persistent margin variability complicates long-term planning, weakens visibility on sustainable profitability, and heightens execution risk across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Very low leverage and steadily growing equity give Dassault lasting financial flexibility to fund R&D, absorb program delays, and pursue exports or follow-on support contracts. A conservative balance sheet reduces refinancing risk and supports long-term capital allocation amid aerospace cycles.
Read all positive factors
Dassault Aviation (AM) vs. iShares MSCI France ETF (EWQ)
Market Cap
€22.23B
Dividend Yield1.74%
Average Volume (3M)60.40K
Price to Earnings (P/E)22.9
Beta (1Y)0.69
Revenue Growth19.01%
EPS Growth6.34%
CountryFR
Employees14,589
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)12.52
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 Ratio12.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€375.00Price Target Upside14.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)15.61
Revenue Forecast (FY)€8.76B
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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.43B | 6.24B | 4.80B | 6.95B | 7.25B |
| Gross Profit | 574.44M | 2.36B | 1.80B | 601.05M | 956.24M |
| EBITDA | 799.56M | 666.33M | 1.01B | 773.54M | 691.13M |
| Net Income | 977.25M | 923.82M | 693.40M | 716.23M | 605.39M |
Balance Sheet | |||||
| Total Assets | 32.89B | 29.11B | 23.49B | 22.54B | 16.22B |
| Cash, Cash Equivalents and Short-Term Investments | 9.44B | 8.49B | 7.37B | 9.63B | 4.98B |
| Total Debt | 203.05M | 237.76M | 262.44M | 233.65M | 226.35M |
| Total Liabilities | 26.23B | 22.78B | 17.75B | 16.53B | 10.92B |
| Stockholders Equity | 6.66B | 6.33B | 5.74B | 6.01B | 5.30B |
Cash Flow | |||||
| Free Cash Flow | 1.68B | 1.54B | -1.02B | 4.93B | 1.49B |
| Operating Cash Flow | 1.85B | 1.88B | -672.61M | 5.11B | 1.66B |
| Investing Cash Flow | -840.78M | -1.26B | -877.83M | -4.89B | -213.64M |
| Financing Cash Flow | -613.88M | -479.65M | -964.51M | -299.36M | -159.54M |
Dassault Aviation Technical Analysis
Negative
326.60
Price Trends
293.63
Negative
310.74
Negative
295.96
Negative
Market Momentum
-0.67
Positive
41.33
Neutral
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:AM, the sentiment is Negative. The current price of 326.6 is above the 20-day moving average (MA) of 295.74, above the 50-day MA of 293.63, and above the 200-day MA of 295.96, indicating a bearish trend. The MACD of -0.67 indicates Positive momentum. The RSI at 41.33 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:AM.
Dassault Aviation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €143.84B | 20.09 | 51.15% | 0.97% | 12.53% | ― | |
70 Outperform | €22.23B | 22.94 | 12.93% | 1.74% | 19.01% | 6.34% | |
70 Outperform | €46.20B | 27.58 | 22.17% | 1.66% | 7.58% | 61.83% | |
57 Neutral | €153.15B | 30.64 | 19.56% | 1.53% | 3.70% | 13.24% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | €533.18M | 134.89 | -12.90% | ― | 12.61% | -97.71% | |
43 Neutral | €187.02M | -5.88 | -22.05% | ― | 7.21% | 47.92% |
* General Sector Average
FR:AM
Dassault Aviation
287.20
1.09
0.38%
FR:AIR
Airbus Group SE
194.54
25.35
14.98%
FR:LAT
Latecoere
0.01
<0.01
7.69%
FR:SAF
SAFRAN SA
345.00
83.04
31.70%
FR:HO
Thales
224.80
-7.31
-3.15%
FR:FGA
Figeac Aero SA
12.14
0.74
6.49%
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.