Theon International Plc/€THEON
1D1W1MYTD1Y5YMAX
Capital at risk
About Theon International Plc
- Ticker
- €THEON
- Sector
- Industrials
- Primary listing
- AEX
- Employees
- 1,044
- Headquarters
- Nicosia, Cyprus
- Website
- www.theon.com
THEON Metrics
BasicAdvanced
€2.4B
18.54
€1.64
0.90
€0.31
1.02%
Price and volume
Market cap
€2.4B
Beta
0.9
52-week high
€38.40
52-week low
€24.50
Average daily volume
94K
Dividend rate
€0.31
Financial strength
Current ratio
2.997
Quick ratio
1.992
Long term debt to equity
0.677
Total debt to equity
0.726
Dividend payout ratio (TTM)
0.23%
Interest coverage (TTM)
10.08%
Profitability
EBITDA (TTM)
126.535
Gross margin (TTM)
33.82%
Net profit margin (TTM)
23.79%
Operating margin (TTM)
23.75%
Effective tax rate (TTM)
19.85%
Revenue per employee (TTM)
€490,000
Management effectiveness
Return on assets (TTM)
11.20%
Return on equity (TTM)
34.44%
Valuation
Price to earnings (TTM)
18.54
Price to revenue (TTM)
4.411
Price to book
5.25
Price to tangible book (TTM)
6.76
Price to free cash flow (TTM)
103.689
Free cash flow yield (TTM)
0.96%
Free cash flow per share (TTM)
0.294
Dividend yield (TTM)
1.02%
Forward dividend yield
1.02%
Growth
Revenue change (TTM)
32.50%
Earnings per share change (TTM)
57.15%
3-year revenue growth (CAGR)
46.27%
3-year earnings per share growth (CAGR)
5.86%
What the Analysts think about THEON
Analyst ratings (Buy, Hold, Sell) for Theon International Plc stock.
Analyst projections of the future price of Theon International Plc stock.
Bulls say / Bears say
H1 2026 revenue rose 35.4% to €248.7m, while adjusted EBIT grew 37.5% and the margin widened to 26.2%. Management also reiterated roughly €600m of FY 2026 revenue and an adjusted EBIT margin above 26%, giving the earnings momentum a near-term test. (THEON, Edison Group)
The €1.46bn soft backlog provides substantial visibility against FY 2026 revenue guidance of about €600m, with a further €902m of associated options. Order intake also rose 38.5% in H1, including a roughly €70m order package linked partly to Rheinmetall’s German Future Soldier programme. (THEON, Euronext)
Theon is moving beyond traditional night vision into vehicle optronics, digital soldier systems and ISR, including counter-drone capabilities. New orders for Kappa vehicle-awareness systems and the acquisitions of Merio and HGH expand its addressable market to nearly €8bn and could diversify future growth. (THEON, THEON)
The growth plan is becoming more acquisition-dependent just as integration work is intensifying. Theon still had Merio and HGH transactions to complete after H1, while Edison noted that reported leverage of 1.7 times excluded those acquisitions; execution and balance-sheet risk could therefore rise. (Edison Group, THEON)
Cash conversion slipped to 83.2% from 86.3% a year earlier, while capital expenditure jumped 74.7% to €11.8m and net debt reached €237.9m. That means reported profit growth is not translating into cash as strongly as before, increasing the importance of working-capital control and deleveraging. (THEON, Scanx)
The headline backlog is described as soft and book-to-bill was only about 1.0 times in H1, so it does not guarantee equivalent near-term sales growth. Management also said some Middle Eastern procurement decisions were delayed by budget pressure, showing that defence demand can still shift by region and product priority. (StockAnalysis, THEON)
Data summarised monthly by Lightyear AI. Last updated on 20 Sept 2026.
THEON Financial Performance
Revenues and expenses
THEON Earnings Performance
Company profitability
Upcoming events
No upcoming events
Funds containing THEON
AllUSDEURGBP
Fund name | Fund size | €THEON weighting |
|---|---|---|
Vanguard FTSE Global All-cap$VALU | $199M | 0.00% |
Vanguard FTSE Global All-cap€VGLA | €171M | 0.00% |
Vanguard FTSE Global All-cap£VALL | £147M | 0.00% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.