Thales stock gets a new Google Cloud AI security deal

Published on 09/28/2026 at 13:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Thales stock traded at EUR 227.70 on Euronext Paris on September 28, 2026, down 0.74 percent from the prior close. H1 sales reached EUR 10.9 billion, up 7.8 percent organically.

Bauhaus-Poster mit geometrischen Formen, Radarwellen-Motiv und Schriftzug DEFENSE in Rot-Blau — Geometrisches Bauhaus-Poster mit Radar-Motiv und Sektor-Schriftzug DEFENSE steht sinnbildlich für Thales S.A. FR0000121329, Illustration mit AI erstellt.

Thales (ISIN FR0000121329) stock was trading at EUR 227.70 on Euronext Paris at 1:10 p.m. CEST on September 28, 2026, down 0.74 percent from the prior close of EUR 229.40. The company announced an expanded Google Cloud collaboration on September 28, linking its AI Security Fabric with Gemini Enterprise to protect agentic AI workflows, as AFP reported.

Google Cloud deal adds a security angle

The expanded partnership targets visibility, policy enforcement and controls for interactions between AI agents, models, enterprise data and tools. Thales said the offering is designed to address prompt injection, sensitive data leakage, unsafe outputs and unauthorized actions, according to AFP.

The announcement gives Cyber and Digital a fresh commercial theme, but the latest reported figures show an uneven recovery. In H1 2026, the segment generated EUR 1.8 billion in sales, up 0.4 percent year over year, while cyber sales grew 1.6 percent organically, according to the Yahoo Finance transcript of the July 23, 2026 results call.

H1 figures support the valuation debate

Group sales reached EUR 10.9 billion in H1 2026, up 7.8 percent organically, while adjusted EBIT approached EUR 1.4 billion, a 10 percent year-over-year increase. Adjusted net income rose 13 percent to EUR 990 million, and free operating cash flow reached EUR 1.8 billion, according to Yahoo Finance.

Thales confirmed 2026 guidance for organic sales growth of 6 percent to 7 percent, corresponding to EUR 23.3 billion to EUR 23.6 billion, and an adjusted EBIT margin of 12.6 percent to 12.8 percent. The company also expects a 2026 adjusted net income to free operating cash flow conversion ratio of 100 percent to 110 percent, as Yahoo Finance reported from the call.

Analyst target remains above the market

BNP Paribas Exane lowered its price target from EUR 270.00 to EUR 260.00 on September 10, 2026, while maintaining a Market Perform recommendation, according to Ideal Investisseur. The revised target lies 14.18 percent above the EUR 227.70 reference price, placing execution of the H1 growth story ahead of the immediate valuation question.

Thales stock trades below its yearly high

Thales stock was trading at EUR 227.70 on Euronext Paris at 1:10 p.m. CEST on September 28, 2026. The session range was EUR 227.60 to EUR 230.00, versus a 52-week range of EUR 212.60 to EUR 279.30, while market capitalization stood at EUR 46.8 billion and volume reached 34,721 shares.