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Safran SA (SAF) Fair Value & Analysis

Industrials · FR · Market cap €136B · ISIN FR0000073272

What is Safran SA really worth?

SS Safran SA SAF · PA
Price€333.50
Fair Value€202.22
Upside−39.4%
Quality65/100

A solid business, but trading 65% above our fair value of €202.22.

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Strengths

Healthy Growth (revenue 5y +13.2 %/yr)
Highly profitable · 23.0% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Wide moat 74/100

Risks

!Weak on dividend: 20 out of 100

For context

·1.00% dividend yield
Evidence: High Range €131.00 – €304.49

Fair value as of: Aug 31, 2026

From 26 valuation models · updated 5 days ago

Share price −7.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€304.49). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€131.00 to €304.49) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€363.60 €84.69 Fair Value €202.22 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range €84.69 – €363.60 · fair‑value band €131.00 – €304.49 · the €333.50 price screens above the €202.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

Safran SA (SAF) currently trades at €333.50, while our model-based Fair Value estimate is €202.22, implying the stock looks roughly 64.9% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of €280.19 per share, and 4 of the 26 models we run sit above the €333.50 price. Bear case: the Asset-Based group reads lowest at €23.99, and 22 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Safran SA generated revenue of €31.2B at a net margin of 23.0%. Revenue grew 12.5% year over year. It earns a return on equity of 55.7%. The balance sheet holds a net cash position of €816M. Fundamentals as of Aug 31, 2026

Our scenario range runs from €131.00 (bear case) to €304.49 (bull case); at €333.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 4% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −39%, SAF screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €9.40 per share, which is 4.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence €140.80 €225.81 €362.87 79
Growth DCF €141.73 €224.34 €356.67 77
Owner Earnings €225.50 €366.15 €592.90 75
All 26 models by family
DCF Models
FCF DCF best evidence €140.80 €225.81 €362.87 79
Owner Earnings €225.50 €366.15 €592.90 75
5Y Revenue Exit €113.34 €175.12 €255.11 72
5Y EBITDA Exit €134.17 €215.69 €313.20 75
5Y P/E Exit €218.31 €379.64 €556.28 70
10Y Revenue Exit €118.90 €178.95 €262.80 66
10Y EBITDA Exit €135.31 €207.76 €308.86 68
10Y P/E Exit €189.83 €324.15 €501.63 63
Earnings-Based
Graham-Dodd €117.77 €440.61 €595.82 64
Lynch FV €106.20 €151.71 €197.22 61
PEG = 1.0 €106.20 €151.71 €197.22 57
EPV €59.00 €66.93 €73.88 74
Dividend Discount
Gordon GGM €26.94 €56.02 €88.87 66
DDM Multi-Stage €26.94 €47.24 €58.79 66
Multiples
P/E Multiple €272.77 €363.69 €454.61 63
P/S Multiple €112.89 €150.52 €188.15 58
P/B Multiple €120.85 €161.13 €201.42 55
EV/EBIT €138.88 €181.37 €223.87 66
EV/EBITDA €143.65 €187.74 €231.83 67
EV/Revenue €102.38 €141.38 €180.37 54
Asset-Based
NCAV (Graham) €17.90 €23.99 €35.81 54
Growth DCF
Growth DCF €141.73 €224.34 €356.67 77
Rev-Margin DCF €113.34 €175.08 €249.97 72
Economic Profit
Residual Income €162.88 €285.50 €6,434 64
ROIC Compounder €63.86 €79.92 €99.95 72
Growth Earnings
Growth-Adj P/E €196.13 €280.19 €364.25 67

Widest divergence: Growth Earnings (€280.19) versus Asset-Based (€23.99). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 19.4
P/S ratio 4.47 P/E × margin
EPS (TTM) €17.17 price ÷ EPS = P/E 19.4
Dividend yield 1.0% payout 19.5%
Net margin 23.0% FY2025
Return on equity 55.7% TTM
More key figures
Profitability
Return on assets (EBIT) 5.3% avg 5y
Operating margin 13.2% TTM
Growth
Revenue (TTM) €31.2B TTM
Revenue growth (YoY) +12.5% 3y avg +16.9%
EPS growth (YoY) +90.1%
Balance sheet & cash flow
Free cash flow €4.5B FY2025
Net cash €816M FY2025

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 61

Profitability 62
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses in France, rest of Europe, the Americas, the Asia-Pacific, Africa, and the Middle East. The company operates through three segments: Aerospace Propulsion; Aircraft Equipment, Defense and Aerosystems; and Aircraft Interiors.

Full company description

Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses in France, rest of Europe, the Americas, the Asia-Pacific, Africa, and the Middle East. The company operates through three segments: Aerospace Propulsion; Aircraft Equipment, Defense and Aerosystems; and Aircraft Interiors. The Aerospace Propulsion segment designs, develops, produces, and markets propulsion and mechanical power transmission systems for commercial aircraft, military transport, training and combat aircraft, civil and military helicopters, and drones; and offers maintenance, repair, and overhaul (MRO) services, as well as sells spare parts. The Aircraft Equipment, Defense and Aerosystems segment provides landing gears and brakes; nacelles and reversers; avionics, such as flight controls and onboard information systems; security systems, including evacuation slides and oxygen masks; onboard computers and fuel systems; electrical power management systems and related engineering services; optronic equipment and sights, navigation equipment and sensors, infantry, and drones; MRO services; and sells spare parts. The Aircraft Interiors segment designs, develops, manufactures, and markets aircraft seats for passengers and crew; cabin equipment, overhead bins, class dividers, passenger service units, cabin interior solutions, chilling systems, galleys, electrical inserts, and trolleys; and cabin equipment and passenger comfort-focused solutions such as water distribution, lavatories, air systems, and in-flight entertainment and connectivity (IFEC) solutions. The company's products and services are used in commercial civil and military aircrafts, and helicopters. Safran SA was founded in 1896 and is headquartered in Paris, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Safran SA reported revenue of €31.2B in FY2025 versus €15.3B in FY2021, a compound +19.5%/yr. Reported net income was €7.2B in FY2025, compounding +259.4%/yr from FY2021.

Growth Quality 98/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€31.2B
Latest YoY
+12.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.2%
Avg. revenue growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+85.7% (84.7 + 1.0)
Revenue +19.5%/yr
FY21 €15.3B
FY22 €19.5B
FY23 €23.7B
FY24 €27.7B
FY25 €31.2B
Net income +259.4%/yr
FY21 €43.0M
FY22 −€2.5B
FY23 €3.4B
FY24 −€667M
FY25 €7.2B

SAF screens 65% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "Safran SA Fair Value". https://www.fairvalue-calculator.com/stock/SAF

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Aerospace & Defense · 229 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Top 25%
Fair Value upside −39% · Above median
Return on equity (TTM) 56% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth 13% · Above median
Dividend yield (TTM) 1.0% · Above median
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 19.4× · Cheaper than 75% of peers
P/B 10.63× · Pricier than 75% of peers
P/S (TTM) 5.06× · Pricier than median
P/FCF 35.2× · Pricier than 75% of peers
EV/EBITDA 25.9× · Pricier than median
PEG 2.32× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE63 · sector 50
PAST100 · sector 38
HEALTH93 · sector 93
DIVIDEND20 · sector 16

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $335.71 $116.71 −65%
RTX Corporation RTX $212.08 $88.37 −58%
Airbus SE AIR €213.00 €117.01 −45%
Lockheed Martin Corporation LMT $565.89 $419.01 −26%
Howmet Aerospace Inc HWM $264.85 $50.43 −81%
General Dynamics Corporation GD $379.32 $274.32 −28%
Northrop Grumman Corporation NOC $545.57 $356.59 −35%
TransDigm Group TDG $1,235 $571.03 −54%
L3Harris Technologies, Inc LHX $262.82 $146.55 −44%
Thales S.A HO €243.70 €171.13 −30%

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Frequently asked questions

Is Safran SA (SAF) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of €202.22 versus a price of €333.50, about −39% upside (overvalued).
What is the fair value of SAF?
Our model-based fair value for Safran SA is €202.22 (as of Aug 31, 2026), built from audited fundamentals. The current price: €333.50.
What is the quality score of SAF?
Safran SA has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Safran SA (SAF)?
Safran SA reported trailing-twelve-month revenue of about €31.2B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of SAF?
The net profit margin of Safran SA is about 23.0%, meaning it keeps roughly 23.0% of revenue as net income. Based on the latest reported figures.
Does Safran SA pay a dividend?
Safran SA currently shows a dividend yield of about 1.00% relative to its recent price (as of Aug 31, 2026).
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