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Compares relative valuation levels inside the Defense & Sovereign Tech theme.
Relative valuation snapshots for comparable companies inside a theme.
For each company the median fair value across five models is read against the current price.
Each bubble is a theme: the horizontal axis is median P/E (cheapness), the vertical axis median Piotroski F-score (fundamental quality). Top-left is cheap and high quality, bottom-right is expensive and weak.
| Theme | Median P/E | Median Piotroski F-score |
|---|---|---|
| AI Platforms and Models | 33.8 | 6 |
| AI Chips and Accelerators | 65.4 | 5.5 |
| AI Data Center Infrastructure | 41.1 | 5 |
| AI Software Layer | 25.8 | 6 |
| Semiconductor Value Chain | 55.1 | 6 |
| Digital Infrastructure | 26.1 | 5 |
| Cybersecurity | 42.2 | 5 |
| Robotics and Automation | 44.7 | 5.5 |
| Defense and Sovereign Technology | 43.5 | 6 |
| Space and Satellite Economy | 23.5 | 6 |
| Strategic Minerals | 19.1 | 4 |
| Copper and Power Transmission | 31.7 | 5 |
| Battery and Energy Storage | 56.8 | 5 |
| Nuclear Fuel and Uranium | 17.7 | 4.5 |
| Clean Energy Equipment | 24.1 | 5 |
| Water Scarcity and Infrastructure | 27.2 | 5 |
| Next-Generation Healthcare | 29.7 | 6 |
| Pharmaceutical Manufacturers | 21.2 | 5 |
| Financial Rails and Payments | 25 | 6.5 |
| Digital Commerce and Marketplaces | 26.8 | 5.5 |
| Food Security | 16 | 5 |
| Agricultural Technology | 10.1 | 5 |
| Circular Economy and Waste | 37 | 6 |
“Coverage” is how many companies a model could value; “Agreement” is how close the model’s fair value sits to the blended median. Higher on both means a more dependable model.
Re-rated by a new arms cycle, the valuation view separates names already pricing the boom from those with room left.
After a sharp re-rating, the goal is to find defense names cheap on through-cycle earnings, not just on this year’s surge.
The multiple models (P/E, EV/EBITDA, P/S) value each company at the theme peer-median multiple, so the fair value reflects cheap/expensive relative to peers.
The intrinsic models (Owner Earnings, FCF Yield) give an absolute reference based on cash and earnings power, independent of peers.
“Blended FV” is the median across these models; “Upside” is the gap to the current price.
Latest published or live-generated results from the official Datafin analysis.
| # | Stock | Price | P/E(peer median) | EV/EBITDA(peer median) | P/S(peer median) | Owner Earnings | FCF Yield | Blended FV | Upside | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 🇩🇪 | AIR.XETRA Airbus SE | €160.78 | €255.09 | €296.94 | €469.38 | €44.64 | €24.41 | €255.09 | +58.7% |
| 2 | 🇫🇷 | AIR.PA Airbus Group SE | €160.82 | €255.09 | €296.94 | €469.38 | €44.64 | €24.41 | €255.09 | +58.6% |
| 3 | 🇺🇸 | RTX.US Raytheon Technologies Corp | $192.90 | $213.34 | $251.41 | $338.00 | $54.32 | $61.26 | $213.34 | +10.6% |
| 4 | 🇺🇸 | BA.US The Boeing Company | $199.03 | $111.22 | $217.69 | $575.04 | - | - | $217.69 | +9.4% |
| 5 | 🇺🇸 | HON.US Honeywell International Inc | $226.03 | $257.74 | $220.39 | $293.91 | $58.24 | $65.38 | $220.39 | -2.5% |
| 6 | 🇺🇸 | GE.US GE Aerospace | $283.77 | $331.21 | $275.70 | $235.21 | $67.60 | $71.18 | $235.21 | -17.1% |
| 7 | 🇹🇷 | ASELS.IS ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi | TRY 320.25 | TRY 292.24 | TRY 330.83 | TRY 214.85 | - | TRY 8.44 | TRY 253.55 | -20.8% |
| 8 | 🇸🇪 | SAAB-B.ST Saab AB (publ) | SEK 617.40 | SEK 480.53 | SEK 370.88 | SEK 778.03 | - | SEK 101.33 | SEK 425.71 | -31% |
| 9 | 🇺🇸 | TXN.US Texas Instruments Incorporated | $194.14 | $235.60 | $198.75 | $102.96 | $31.01 | $40.71 | $102.96 | -47% |
| 10 | 🇳🇴 | KOG.OL Kongsberg Gruppen ASA | NOK 412.75 | NOK 335.78 | NOK 177.83 | NOK 264.46 | NOK 45.87 | NOK 69.41 | NOK 177.83 | -56.9% |
| 11 | 🇬🇧 | BA.LSE BAE Systems plc | £1,886.50 | £53.14 | £66.14 | £91.94 | £12.03 | £16.57 | £53.14 | -97.2% |
| 12 | 🇬🇧 | RR.LSE Rolls-Royce Holdings PLC | £967.60 | £37.72 | £29.30 | £22.04 | £8.14 | £7.24 | £22.04 | -97.7% |