THEME RANKINGS

Defense & Sovereign Tech Ranking - Theme-level quality and growth rankings refreshed by Datafin.
Official Theme RankingPublished

Defense & Sovereign Tech Ranking

Ranks companies inside the Defense & Sovereign Tech theme by quality, growth and cash-generation signals.

Open live tool
Theme universe
90
Visible candidates
15
Model type
Quality ranking
Generated: Sep 9, 2026, 04:32 AM
Data as of: 2026-09-08
Theme Rankings· 6 analyses

Theme-level quality and growth rankings refreshed by Datafin.

Theme Leader Matrix

Theme leaders are tracked by growth, profitability and cash generation.

Quality strength
Sales growth
Top 3:1KXS.TO2GE3HWM
Theme Leader Matrix
StockSales growthQuality strength
KXS.TO16.8%41.7%
GE21.8%42.2%
HWM18.1%27.7%
WWD22.3%20%
MOG-A15.6%15.6%
SAAB-B.ST26%15.3%
TXN16.7%30.6%
SAF.PA14.6%29.5%
GRMN13.5%25.3%
HEI-A20.7%16.4%
HEI20.7%16.4%
ESLT13.7%15.3%

Datafin’s View

Geopolitics has turned defense into a structural growth theme; the ranking favors firms with durable backlogs and real cash generation, not just headlines.

Sovereign demand is sticky and multi-year, so this ranking leans toward the suppliers most able to convert it into durable earnings.

This analysis is for informational purposes only and is not investment advice; it is a repeatable research starting point using the same rules.

Cross-Theme Valuation

The median P/E of every theme we cover; a lower bar marks a more cheaply priced theme. This analysis’ theme is highlighted.

  • Battery and Energy Storage
    18.9
  • Strategic Minerals
    19
  • Food Security
    20
  • Pharmaceutical Manufacturers
    20.1
  • AI Platforms and Models
    20.2
  • AI Software Layer
    21
  • Agricultural Technology
    21.8
  • Financial Rails and Payments
    22.8
  • Water Scarcity and Infrastructure
    23.6
  • Circular Economy and Waste
    25.5
  • Digital Infrastructure
    26.1
  • Space and Satellite Economy
    27.4
  • Digital Commerce and Marketplaces
    27.5
  • Clean Energy Equipment
    28
  • Next-Generation Healthcare
    29.1
  • Copper and Power Transmission
    31
  • Robotics and Automation
    32
  • AI Data Center Infrastructure
    33.6
  • Cybersecurity
    33.8
  • Defense and Sovereign Technology
    35.1
  • Nuclear Fuel and Uranium
    39.2
  • Semiconductor Value Chain
    51
  • AI Chips and Accelerators
    60

The dark bar is this page’s theme. The lighter bars are the other themes we cover.

Results

Latest published or live-generated results from the official Datafin analysis.

1🇨🇦
KXS.TO
Kinaxis Inc
91
Sales Growth
16.77%
EPS Growth
262.06%
Return on Equity(ROE)
20.59%
Return on Invested Capital(ROIC)
62.86%
Free Cash Flow
$149.4M
PEG Ratio
0.15
2🇺🇸
GE.US
GE Aerospace
88
Sales Growth
21.8%
EPS Growth
17.68%
Return on Equity(ROE)
48.79%
Return on Invested Capital(ROIC)
35.58%
Free Cash Flow
$8.4B
PEG Ratio
2.21
3🇺🇸
HWM.US
Howmet Aerospace Inc
87
Sales Growth
18.08%
EPS Growth
35.72%
Return on Equity(ROE)
34.71%
Return on Invested Capital(ROIC)
20.75%
Free Cash Flow
$1.6B
PEG Ratio
1.4
4🇺🇸
WWD.US
Woodward Inc
87
Sales Growth
22.35%
EPS Growth
42.49%
Return on Equity(ROE)
22.34%
Return on Invested Capital(ROIC)
17.56%
Free Cash Flow
$376.5M
PEG Ratio
0.89
5🇺🇸
MOG-A.US
Moog Inc
86
Sales Growth
15.58%
EPS Growth
78.88%
Return on Equity(ROE)
18.11%
Return on Invested Capital(ROIC)
13.16%
Free Cash Flow
$243.9M
PEG Ratio
0.4
6🇸🇪
SAAB-B.ST
Saab AB (publ)
85
Sales Growth
26.03%
EPS Growth
36.51%
Return on Equity(ROE)
15.8%
Return on Invested Capital(ROIC)
14.87%
Free Cash Flow
$676.5M
PEG Ratio
1.21
7🇺🇸
TXN.US
Texas Instruments Incorporated
85
Sales Growth
16.66%
EPS Growth
19.01%
Return on Equity(ROE)
35.18%
Return on Invested Capital(ROIC)
26.12%
Free Cash Flow
$5.4B
PEG Ratio
2.06
8🇫🇷
SAF.PA
Safran SA
85
Sales Growth
14.61%
EPS Growth
18.78%
Return on Equity(ROE)
36.8%
Return on Invested Capital(ROIC)
22.26%
Free Cash Flow
$6B
PEG Ratio
1.45
9🇺🇸
GRMN.US
Garmin Ltd
84
Sales Growth
13.51%
EPS Growth
19.66%
Return on Equity(ROE)
21.89%
Return on Invested Capital(ROIC)
28.7%
Free Cash Flow
$1.5B
PEG Ratio
1.45
10🇺🇸
HEI-A.US
HEICO Corporation
84
Sales Growth
20.69%
EPS Growth
31.79%
Return on Equity(ROE)
18.65%
Return on Invested Capital(ROIC)
14.08%
Free Cash Flow
$1B
PEG Ratio
1.23
11🇺🇸
HEI.US
Heico Corporation
83
Sales Growth
20.69%
EPS Growth
31.79%
Return on Equity(ROE)
18.65%
Return on Invested Capital(ROIC)
14.08%
Free Cash Flow
$1B
PEG Ratio
1.65
12🇺🇸
ESLT.US
Elbit Systems Ltd
83
Sales Growth
13.7%
EPS Growth
53.56%
Return on Equity(ROE)
15.23%
Return on Invested Capital(ROIC)
15.29%
Free Cash Flow
$692.8M
PEG Ratio
1
13🇺🇸
BWXT.US
BWX Technologies Inc
83
Sales Growth
22.7%
EPS Growth
20.28%
Return on Equity(ROE)
28.21%
Return on Invested Capital(ROIC)
13.14%
Free Cash Flow
$316.8M
PEG Ratio
2.05
14🇬🇧
RR.LSE
Rolls-Royce Holdings PLC
80
Sales Growth
18.56%
EPS Growth
-46.88%
Return on Equity(ROE)
115.49%
Return on Invested Capital(ROIC)
880.26%
Free Cash Flow
$5.7B
PEG Ratio
-0.87
15🇺🇸
LMT.US
Lockheed Martin Corporation
80
Sales Growth
7.21%
EPS Growth
51.62%
Return on Equity(ROE)
89.16%
Return on Invested Capital(ROIC)
28.45%
Free Cash Flow
$8.7B
PEG Ratio
0.38

Methodology

Sales Growth> 12% · 18 pts
EPS Growth> 8% · 14 pts
Return on Equity (ROE)> 14% · 20 pts
Return on Invested Capital (ROIC)> 10% · 16 pts
Free Cash Flow> $0 · 20 pts
PEG Ratio< 2.5 · 12 pts

Last 5 Updates

Sep 9, 2026, 04:32 AM15 companies
Entered:MOG-A.US, HEI-A.US, HEI.US, BWXT.US
Exited:BA.US, HON.US, HO.PA, MTSI.US
Aug 29, 2026, 04:33 AM15 companies
Entered:MTSI.US, KXS.TO
Exited:HEI-A.US, HEI.US
Aug 18, 2026, 04:32 AM15 companies
Entered:ESLT.US, HO.PA
Exited:KXS.TO, CW.US
Aug 7, 2026, 04:31 AM15 companies
Entered:CW.US, RR.LSE, BA.US, HON.US
Exited:ASELS.IS, BWXT.US, MOG-A.US, MTX.XETRA
Jul 26, 2026, 04:32 AM15 companies
Entered:TXN.US, LMT.US
Exited:IDR.MC, FTAI.US

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