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French manufacturer of the Rafale fighter jet and Falcon business jets, majority family-controlled.
French manufacturer of the Rafale fighter jet and Falcon business jets, majority family-controlled.
Sells fighter jets mainly to governments under multiyear contracts, so Rafale revenue comes in large lumps as aircraft are delivered; Falcon business jets sell to companies and wealthy individuals. Export orders for Rafale have grown in importance relative to French orders. The Dassault family holding, Groupe Industriel Marcel Dassault, controls the company.
In one line: France's Textron/Gulfstream-and-fighter-jet hybrid..
Moat: narrow (IP / patents, regulatory licence, brand). One of few Western makers of a top-tier fighter jet, protected by defense-export approvals and decades of engineering know-how.
Headquarters: Saint-Cloud, France · Founded: 1929 · Employees: 14,589
Size Dassault Aviation (AM.PA) is a France Industrials company (Aerospace & Defense) with a market value of $26.0B, the 27th largest of 206 France companies the cockpit tracks. Shares closed at €301.00 on 6 Nov 2026.
Performance Over six months the shares gained 5.9%, against -11.3% for the median peer and -0.4% for the France market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 33.2% over the last twelve months (peer median +15.2%); the operating margin is 8.8% (peer median 12.2%).
Valuation It trades at 19.6× forward earnings against a peer median of 33.6× (5th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -1 pp: the price already allows for a slowdown.
Next results Next results expected around 10 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €8.73B | €7.43B | €6.24B | €4.80B | €6.95B |
| Revenue growth | — | +19% | +30% | -31% | — |
| Gross profit | €789M | €574M | €528M | €176M | €601M |
| EBITDA | €976M | €800M | €684M | €478M | €740M |
| Net income | €1.00B | €977M | €924M | €693M | €716M |
| Free cash flow | €1.34B | €1.68B | €1.57B | -€1.02B | €4.93B |
| Capital expenditure | €125M | €195M | €346M | €346M | €175M |
| Total debt | n/a | €203M | €238M | €262M | €234M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Dassault Aviation AM.PA | $26.0B | +6% | +33% | 9% | 19.6× | 5.2% |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Saab SAAB-B.ST | $33.3B | +19% | +28% | 10% | 40.2× | 6.0% |
| General Dynamics GD | $95.7B | +3% | +10% | 10% | 19.4× | -2.5% |
| Bombardier BBD-B.TO | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AM.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +3.6% | 4th highest of 21 |
| 6-month return | +5.9% | -11.3% | 7th highest of 21 |
| Distance from 52-week high | -16.8% | -26.7% | 6th highest of 21 |
| Revenue growth (TTM) | +33.2% | +15.2% | 6th highest of 21 |
| Operating margin | 8.8% | 12.2% | 6th lowest of 21 |
| Forward P/E | 19.6× | 33.6× | 5th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.2% | 15.2% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +6.2% | +11.5% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | -1.0 pp | +4.3 pp | 7th least demanding of 14 |
| EV / EBITDA | 13.6× | 22.2× | 3rd cheapest of 16 |
| Net debt / EBITDA | -10.2× | 1.3× | least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dassault Aviation AM.PA | France | $26.0B | +6% | +33% | 9% | 19.6× | 5.2% | +6.2% |
| Axon Enterprise AXON | United States | $25.4B | -22% | +35% | 1% | 36.5× | n/a | n/a |
| Hanwha Aerospace 012450.KS | South Korea | $25.0B | -53% | +28% | 11% | 17.2× | -7.0% | +38.1% |
| Singapore Technologies Engineering S63.SI | Singapore | $22.6B | -13% | +11% | 9% | 27.3× | 5.3% | +11.5% |
| Bombardier BBD-B.TO | Canada | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% | +8.9% |
| Bharat Electronics BEL.NS | India | $30.6B | -10% | +20% | 26% | 41.5× | 38.2% | +14.3% |
| Leonardo LDO.MI | Italy | $31.0B | -4% | +10% | 7% | 20.2× | 14.3% | +7.8% |
| Arxis ARXS | United States | $21.5B | +42% | +114% | 20% | 54.2× | 58.8% | n/a |
| Rocket Lab RKLB | United States | $31.8B | -50% | +53% | -29% | n/a | n/a | n/a |
| Kongsberg Gruppen KOG.OL | Norway | $31.8B | +13% | -28% | 17% | 46.3× | 21.7% | +4.3% |
| Elbit Systems ESLT | United States | $32.0B | -13% | +12% | 9% | 46.5× | 10.1% | +11.5% |
| MTU Aero Engines MTX.DE | Germany | $20.9B | +21% | +12% | 13% | 18.5× | 6.3% | +17.1% |
| AVIC Shenyang Aircraft 600760.SS | China | $20.8B | +4% | -1% | 8% | 45.1× | n/a | n/a |
| Saab SAAB-B.ST | Sweden | $33.3B | +19% | +28% | 10% | 40.2× | 6.0% | +17.4% |
| Hindustan Aeronautics HAL.NS | India | $35.2B | +4% | +7% | 23% | 33.6× | 42.7% | +7.2% |
| FTAI Aviation FTAI | United States | $18.4B | -33% | +46% | 23% | 16.7× | n/a | n/a |
| HEICO HEI | United States | $39.2B | +14% | +21% | 24% | 47.8× | 24.5% | +20.2% |
| Curtiss-Wright CW | United States | $17.1B | -36% | +11% | 19% | 27.4× | 16.2% | +7.9% |
| Rheinmetall RHM.DE | Germany | $42.5B | -29% | -2% | 18% | 22.0× | 6.5% | +12.9% |
| AECC Aviation Power 600893.SS | China | $15.8B | -15% | +18% | 2% | 173.7× | n/a | n/a |
| Csg CSG.AS | Netherlands | $14.6B | -20% | +72% | 25% | 11.7× | n/a | n/a |