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Dassault Aviation

ENXTPA:AM
Snowflake Description

Excellent balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AM
ENXTPA
€7B
Market Cap
  1. Home
  2. FR
  3. Capital Goods
Company description

Dassault Aviation SA engages in the aeronautical business in France and internationally. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
  • Dassault Aviation has significant price volatility in the past 3 months.
AM Share Price and Events
7 Day Returns
15.1%
ENXTPA:AM
-4.8%
FR Aerospace & Defense
1.8%
FR Market
1 Year Returns
-35.7%
ENXTPA:AM
-44.9%
FR Aerospace & Defense
-17.5%
FR Market
AM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Dassault Aviation (AM) 15.1% -4% -25.6% -35.7% -29.2% -31.7%
FR Aerospace & Defense -4.8% -36% -49.2% -44.9% -16.8% -1.9%
FR Market 1.8% -12.1% -24.9% -17.5% -7.6% -7.2%
1 Year Return vs Industry and Market
  • AM outperformed the Aerospace & Defense industry which returned -44.9% over the past year.
  • AM underperformed the Market in France which returned -17.5% over the past year.
Price Volatility
AM
Industry
5yr Volatility vs Market

AM Value

 Is Dassault Aviation undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Dassault Aviation to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Dassault Aviation.

ENXTPA:AM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in EUR € 22.9493975
Payout Ratio Company Filings (2019-12-31) 2376.2%
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year FR Government Bond Rate -0.1%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:AM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.1%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.849 (1 + (1- 33%) (8.04%))
0.929
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.11% + (0.929 * 6.07%)
5.53%

Discounted Cash Flow Calculation for ENXTPA:AM using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Dassault Aviation is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

ENXTPA:AM Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= €22.95 / (5.53% - -0.11%)
€406.76
ENXTPA:AM Discount to Share Price
Calculation Result
Value per share (EUR) From above. €406.76
Current discount Discount to share price of €836.00
= -1 x (€836.00 - €406.76) / €406.76
-105.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Dassault Aviation is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Dassault Aviation's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Dassault Aviation's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:AM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €85.74
ENXTPA:AM Share Price ** ENXTPA (2020-04-08) in EUR €836
France Aerospace & Defense Industry PE Ratio Median Figure of 8 Publicly-Listed Aerospace & Defense Companies 12.77x
France Market PE Ratio Median Figure of 411 Publicly-Listed Companies 13.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Dassault Aviation.

ENXTPA:AM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:AM Share Price ÷ EPS (both in EUR)

= 836 ÷ 85.74

9.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dassault Aviation is good value based on earnings compared to the FR Aerospace & Defense industry average.
  • Dassault Aviation is good value based on earnings compared to the France market.
Price based on expected Growth
Does Dassault Aviation's expected growth come at a high price?
Raw Data
ENXTPA:AM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
7.2%per year
France Aerospace & Defense Industry PEG Ratio Median Figure of 8 Publicly-Listed Aerospace & Defense Companies 1.3x
France Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.01x

*Line of best fit is calculated by linear regression .

ENXTPA:AM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.75x ÷ 7.2%

1.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dassault Aviation is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Dassault Aviation's assets?
Raw Data
ENXTPA:AM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €534.81
ENXTPA:AM Share Price * ENXTPA (2020-04-08) in EUR €836
France Aerospace & Defense Industry PB Ratio Median Figure of 11 Publicly-Listed Aerospace & Defense Companies 1.12x
France Market PB Ratio Median Figure of 591 Publicly-Listed Companies 1.16x
ENXTPA:AM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:AM Share Price ÷ Book Value per Share (both in EUR)

= 836 ÷ 534.81

1.56x

* Primary Listing of Dassault Aviation.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dassault Aviation is overvalued based on assets compared to the FR Aerospace & Defense industry average.
X
Value checks
We assess Dassault Aviation's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Dassault Aviation has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AM Future Performance

 How is Dassault Aviation expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Dassault Aviation expected to grow at an attractive rate?
  • Dassault Aviation's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Dassault Aviation's earnings growth is positive but not above the France market average.
  • Dassault Aviation's revenues are expected to decrease over the next 1-3 years, this is below the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:AM Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:AM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 7.2%
ENXTPA:AM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -8.9%
France Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 21.6%
France Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 1.5%
France Market Earnings Growth Rate Market Cap Weighted Average 12.2%
France Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:AM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:AM Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 4,242 1
2023-12-31 4,338 -564 873 2
2022-12-31 5,681 77 815 7
2021-12-31 6,327 13 705 10
2020-12-31 5,221 -248 521 10
2020-04-08
ENXTPA:AM Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 7,376 -66 713
2019-09-30 6,935 15 707
2019-06-30 6,493 95 702
2019-03-31 5,806 674 637
2018-12-31 5,119 1,253 573
2018-09-30 4,828 1,385 485
2018-06-30 4,536 1,517 398
2018-03-31 4,719 1,516 514
2018-01-01 4,901 1,515 630
2017-09-30 4,473 1,638 586
2017-06-30 4,090 1,761 498
2017-03-31 3,878 1,374 438

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Dassault Aviation's earnings are expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
  • Dassault Aviation's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:AM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Dassault Aviation Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:AM Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 85.64 90.77 79.64 3.00
2021-12-31 84.87 105.92 72.09 7.00
2020-12-31 65.49 75.94 52.98 8.00
2020-04-08
ENXTPA:AM Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 85.74
2019-09-30 85.08
2019-06-30 84.42
2019-03-31 76.75
2018-12-31 69.06
2018-09-30 58.58
2018-06-30 48.08
2018-03-31 62.22
2018-01-01 76.42
2017-09-30 71.27
2017-06-30 60.59
2017-03-31 52.67

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Dassault Aviation is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Dassault Aviation's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Dassault Aviation has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AM Past Performance

  How has Dassault Aviation performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Dassault Aviation's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Dassault Aviation has delivered over 20% year on year earnings growth in the past 5 years.
  • Dassault Aviation's 1-year earnings growth is less than its 5-year average (24.4% vs 28.2%)
  • Dassault Aviation's earnings growth has exceeded the FR Aerospace & Defense industry average in the past year (24.4% vs 14.3%).
Earnings and Revenue History
Dassault Aviation's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Dassault Aviation Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:AM Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 7,376.32 712.70 1,302.72
2019-09-30 6,934.76 707.22 1,270.39
2019-06-30 6,493.20 701.74 1,238.05
2019-03-31 5,806.21 637.24 1,221.49
2018-12-31 5,119.22 572.74 1,204.93
2018-09-30 4,827.63 485.29 1,172.09
2018-06-30 4,536.05 397.85 1,139.26
2018-03-31 4,718.63 513.94 1,141.15
2018-01-01 4,901.21 630.04 1,143.04
2017-09-30 4,472.80 586.41 1,158.76
2017-06-30 4,089.73 497.55 1,174.49
2017-03-31 3,877.67 438.29 1,174.59
2016-12-31 3,665.60 379.03 1,174.69
2016-09-30 3,917.97 445.64 1,178.40
2016-06-30 4,170.34 512.25 1,182.11
2016-03-31 4,176.83 326.85 1,174.96
2015-12-31 4,183.32 141.46 1,167.80
2015-09-30 4,012.39 39.45 1,143.72
2015-06-30 3,841.46 -62.56 1,119.65
2015-03-31 3,760.92 110.14 1,090.38
2014-12-31 3,680.38 282.84 1,061.12
2014-09-30 3,980.60 410.26 1,052.88
2014-06-30 4,280.83 537.68 1,044.65
2014-03-31 4,436.93 498.55 1,061.95
2013-12-31 4,593.03 459.42 1,079.25
2013-09-30 4,217.94 454.49 1,092.65
2013-06-30 3,842.85 449.56 1,106.06

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Dassault Aviation has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Dassault Aviation used its assets more efficiently than the FR Aerospace & Defense industry average last year based on Return on Assets.
  • Dassault Aviation has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Dassault Aviation's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Dassault Aviation has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AM Health

 How is Dassault Aviation's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Dassault Aviation's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Dassault Aviation is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Dassault Aviation's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Dassault Aviation's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 31.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Dassault Aviation Company Filings, last reported 3 months ago.

ENXTPA:AM Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,446.09 380.90 4,965.95
2019-09-30 4,446.09 380.90 4,965.95
2019-06-30 4,083.78 970.62 5,724.56
2019-03-31 4,083.78 970.62 5,724.56
2018-12-31 4,276.59 995.46 6,202.11
2018-09-30 4,276.59 995.46 6,202.11
2018-06-30 3,818.95 1,052.35 6,075.05
2018-03-31 3,818.95 1,052.35 6,075.05
2018-01-01 3,720.71 1,102.54 5,216.33
2017-09-30 3,907.71 1,102.54 2,061.42
2017-06-30 3,612.62 1,160.22 1,930.56
2017-03-31 3,612.62 1,160.22 1,930.56
2016-12-31 3,317.36 1,193.11 1,252.87
2016-09-30 3,317.36 1,193.11 1,252.87
2016-06-30 3,253.62 1,191.69 1,181.80
2016-03-31 3,253.62 1,191.69 1,181.80
2015-12-31 3,770.92 1,213.13 946.41
2015-09-30 3,770.92 1,213.13 946.41
2015-06-30 3,511.66 1,217.00 774.56
2015-03-31 3,511.66 1,217.00 774.56
2014-12-31 4,102.61 984.76 708.42
2014-09-30 4,102.61 984.76 708.42
2014-06-30 5,178.23 395.66 740.09
2014-03-31 5,178.23 395.66 740.09
2013-12-31 5,095.52 268.18 983.23
2013-09-30 5,112.09 268.18 983.23
2013-06-30 4,791.90 311.95 930.12
  • Dassault Aviation's level of debt (8.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (24.1% vs 8.6% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 15x coverage).
X
Financial health checks
We assess Dassault Aviation's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Dassault Aviation has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AM Dividends

 What is Dassault Aviation's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.04%
Current annual income from Dassault Aviation dividends. Estimated to be 2.75% next year.
If you bought €2,000 of Dassault Aviation shares you are expected to receive €61 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Dassault Aviation's pays a higher dividend yield than the bottom 25% of dividend payers in France (2.02%).
  • Dassault Aviation's dividend is below the markets top 25% of dividend payers in France (6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:AM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
France Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.3%
France Market Average Dividend Yield Market Cap Weighted Average of 297 Stocks 3.8%
France Minimum Threshold Dividend Yield 10th Percentile 1.2%
France Bottom 25% Dividend Yield 25th Percentile 2%
France Top 25% Dividend Yield 75th Percentile 6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:AM Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 29.67 1.00
2022-12-31 27.45 6.00
2021-12-31 24.07 10.00
2020-12-31 18.86 11.00
2020-04-08
ENXTPA:AM Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-27 25.400 3.243
2019-02-28 21.200 1.726
2018-03-08 15.300 1.031
2017-05-29 12.100 0.922
2016-03-10 12.100 1.164
2015-03-11 10.000 0.896
2014-03-13 8.900 0.846
2013-03-14 9.300 1.013
2012-07-30 8.500 1.125
2012-07-26 8.500 1.224
2012-03-22 8.500 1.234
2011-03-16 10.700 1.630
2010-03-17 8.800 1.464

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Dassault Aviation's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess Dassault Aviation's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Dassault Aviation afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Dassault Aviation has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AM Management

 What is the CEO of Dassault Aviation's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Éric Trappier
COMPENSATION €3,017,516
AGE 59
TENURE AS CEO 7.3 years
CEO Bio

Mr. Eric Trappier has been the Chairman of the Board and Chief Executive Officer at Dassault Aviation SA since January 9, 2013. Mr. Trappier served as Executive Vice President of International at Dassault Aviation SA until January 9, 2013. He served as Senior Vice President of International Directorate at Dassault Aviation SA. He has been a Director of Thales SA since May 19, 2009 and Dassault Aviation SA since December 18, 2012. Mr. Trappier is a Graduate of Institut National Telecom.

CEO Compensation
  • Éric's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Éric's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure of the Dassault Aviation management team in years:

3.2
Average Tenure
  • The tenure for the Dassault Aviation management team is about average.
Management Team

Éric Trappier

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
59
TENURE
7.3 yrs

Loïk Segalen

TITLE
Chief Operating Officer
COMPENSATION
€3M
AGE
59
TENURE
7.3 yrs

Denis Dassé

TITLE
Chief Financial Officer
TENURE
3.2 yrs

Jean Sass

TITLE
Chief Information Officer & Chief Digital Officer

Stéphane Fort

TITLE
Chief Communication Officer

Claude Defawe

TITLE
Vice President of Sales & Marketing

Philippe Massot

TITLE
Senior Vice President of Military Sales - France
TENURE
3.2 yrs

Valérie Guillemet

TITLE
Head of Human Resources
TENURE
0.8 yrs

Gérald Maria

TITLE
Senior Executive Vice President of Total Quality
TENURE
3.2 yrs

Benoît Berger

TITLE
Senior Executive Vice President of Procurement & Purchasing
TENURE
3.2 yrs
Board of Directors Tenure

Average tenure and age of the Dassault Aviation board of directors in years:

5.9
Average Tenure
59
Average Age
  • The tenure for the Dassault Aviation board of directors is about average.
Board of Directors

Charles Edelstenne

TITLE
Honorary Chairman
COMPENSATION
€44K
AGE
81

Éric Trappier

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
59
TENURE
7.3 yrs

Henri Proglio

TITLE
Independent Director
COMPENSATION
€50K
AGE
70
TENURE
12 yrs

Olivier Dassault

TITLE
Director
COMPENSATION
€35K
AGE
68
TENURE
24 yrs

Lucia Sinapi-Thomas

TITLE
Independent Director
COMPENSATION
€44K
AGE
55
TENURE
5.9 yrs

Marie-Hélène Habert-Dassault

TITLE
Director
COMPENSATION
€35K
AGE
54
TENURE
5.9 yrs

Richard Bédère

TITLE
Employee Representative Director
COMPENSATION
€38K
AGE
62
TENURE
5.8 yrs

Mathilde Lemoine

TITLE
Independent Director
COMPENSATION
€38K
AGE
50
TENURE
3.1 yrs

Catherine Dassault

TITLE
Director
COMPENSATION
€38K
AGE
52
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Dassault Aviation's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Dassault Aviation has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AM News

Simply Wall St News

Read This Before You Buy Dassault Aviation SA (EPA:AM) Because Of Its P/E Ratio

See our latest analysis for Dassault Aviation How Do I Calculate Dassault Aviation's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Dassault Aviation: P/E of 18.43 = €1273 ÷ €69.06 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … How Does Dassault Aviation's P/E Ratio Compare To Its Peers?

Simply Wall St -

Interested In Dassault Aviation SA (EPA:AM)? Here's How It Performed Recently

Today I will take you through a basic sense check to gain perspective on how Dassault Aviation is doing by evaluating its latest earnings with its longer term trend as well as its industry peers' performance over the same period. … View our latest analysis for Dassault Aviation Was AM's recent earnings decline worse than the long-term trend and the industry? … I recommend you continue to research Dassault Aviation to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for AM’s future growth?

Simply Wall St -

Does Dassault Aviation SA's (EPA:AM) CEO Pay Matter?

See our latest analysis for Dassault Aviation How Does Éric Trappier's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that Dassault Aviation SA has a market cap of €10b, and is paying total annual CEO compensation of €2.9m. … Boasting a total shareholder return of 37% over three years, Dassault Aviation SA has done well by shareholders.

Simply Wall St -

Is Dassault Aviation (EPA:AM) Using Too Much Debt?

We note that Dassault Aviation SA (EPA:AM) does have debt on its balance sheet. … While Dassault Aviation has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … Over the last three years, Dassault Aviation actually produced more free cash flow than EBIT.

Simply Wall St -

When Should You Buy Dassault Aviation SA (EPA:AM)?

Great news for investors – Dassault Aviation is still trading at a fairly cheap price. … What’s more interesting is that, Dassault Aviation’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. … What does the future of Dassault Aviation look like?

Simply Wall St -

Is It Time To Consider Buying Dassault Aviation SA (EPA:AM)?

Great news for investors – Dassault Aviation is still trading at a fairly cheap price. … However, given that Dassault Aviation’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. … With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price.

Simply Wall St -

Should You Buy Dassault Aviation SA (EPA:AM) When Prices Drop?

High quality companies, such as Dassault Aviation SA, are impacted by general market panic and sell-off, but the fundamentals of these companies stay the same. … So, large-cap stocks are a safe bet to buy more of when the stock market is selling off. … Dassault Aviation tick the boxes in terms of its scale, financial health and proven track record, but there are a few other things I have yet to consider.

Simply Wall St -

A Close Look At Dassault Aviation SA’s (EPA:AM) 10% ROCE

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Dassault Aviation: 0.10 = €463m ÷ (€17b - €12b) (Based on the trailing twelve months to December 2018.) Therefore, Dassault Aviation has an ROCE of 10%. … Do Dassault Aviation's Current Liabilities Skew Its ROCE? … The Bottom Line On Dassault Aviation's ROCE This ROCE is pretty good, but remember that it would look less impressive with fewer current liabilities.

Simply Wall St -

What Dassault Aviation SA's (EPA:AM) ROE Can Tell Us

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Dassault Aviation: 13% = €573m ÷ €4.3b (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Dassault Aviation's Debt And Its 13% Return On Equity Dassault Aviation has a debt to equity ratio of 0.23, which is far from excessive. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Do Institutions Own Dassault Aviation SA (EPA:AM) Shares?

Insider Ownership Of Dassault Aviation The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Private Company Ownership Our data indicates that Private Companies hold 63%, of the company's shares. … Public Company Ownership We can see that public companies hold 9.9%, of the AM shares on issue.

Simply Wall St -

AM Company Info

Description

Dassault Aviation SA engages in the aeronautical business in France and internationally. The company designs and builds military aircraft, business jets, and space systems. It offers Rafale, a twin- engine multirole fighter that performs various combat missions for air forces and naval air arms; nEUROn and medium- altitude long- endurance (MALE) drones; Mirage 2000 aircraft; and aircraft to carry out maritime surveillance, intelligence, medical evacuation, and other special missions. The company operates a fleet of 2,100 Falcon jets and 1,000 combat aircraft. In addition, it is involved in the provision of aviation maintenance and services; repair and maintenance of landing gears and flight controls; overhaul and repair of civil aviation equipment; provision of structured financing for Falcon aircraft; leasing and management of Falcon aircraft as part of public passenger transport activity; production and distribution of simulation tools; and training and aeronautical documentation business. The company is headquartered in Paris, France. Dassault Aviation SA is a subsidiary of Groupe Industriel Marcel Dassault SAS.

Details
Name: Dassault Aviation SA
AM
Exchange: ENXTPA
Founded:
€6,949,754,108
8,313,103
Website: http://www.dassault-aviation.com
Address: Dassault Aviation SA
9, Rond-point des Champs-Élysées,
Marcel Dassault,
Paris,
Ile-de-France, 75008,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA AM Ordinary Shares Euronext Paris FR EUR 02. Jan 1992
OTCPK DUAV.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB DAU Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0IAX Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BMV AM N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE AMP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
12,757
Dassault Aviation employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:45
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.