Safran (SAF.PA): analysis in plain words
Is Safran cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Safran (SAF.PA) is listed on Euronext Paris and we classify it in aerospace and defence. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Safran according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Safran (SAF.PA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €292.50 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 31.4x | Price over earnings per share |
| Revenue growth | +16.0% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 11.6% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 1.18% | Annual dividend over price |
| Market cap | €121.1 billion | What the stock market values it at |
The Safran figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any SAF.PA figure that is not available shows as N/A: we do not estimate it.
How Safran makes money
Safran reports three businesses: Propulsion, the largest, built around the LEAP and CFM engines it makes with GE for single-aisle jets, and especially the spare parts and servicing for them; Equipment & Defense, with landing gear, brakes and electrical systems; and Aircraft Interiors, including seats and cabins.
Over the last 12 months, Safran brought in revenue of €33.6 billion. For every 100 it sells, Safran keeps 46.8 after the direct cost of what it sells (gross margin) and 14.6 after all operating costs (operating margin). With 103,710 full-time employees, that is about €324,000 of revenue per employee.
Safran against its sector
To know whether a Safran figure is high or low you have to put it next to similar companies. This table compares Safran with the median of the 12 aerospace and defence companies Fintols covers, with data as of November 4, 2026.
| Figure | Safran | aerospace and defence median |
|---|---|---|
| P/E | 31.4x | 24.9x (12) |
| Revenue growth | +16.0% | +14.4% (14) |
| Net margin | 11.6% | 8.2% (14) |
| Dividend yield | 1.18% | 1.17% (14) |
| Net debt / EBITDA | -0.3x | 1.3x (12) |
In short, against the typical aerospace and defence company, Safran trades on a higher P/E, earns a wider margin and carries less debt. By size, Safran ranks number 2 of 4 aerospace and defence companies quoted in EUR on Fintols.
The bull case for Safran
These are the strengths in the Safran figures as of November 4, 2026:
- Safran earns 27.5% a year on its shareholders' money (return on equity).
- Analysts expect Safran earnings to rise: its P/E on the next 12 months of estimated earnings is 23.3x, below the current 31.4x.
- Safran holds more cash than debt (net cash), so it does not depend on lenders to keep investing and is better placed to ride out a bad year.
The main risk for Safran
The Safran figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: production delays and problems, and changes in defence budgets.
Frequently asked questions about Safran
Is it a good time to buy Safran stock?
Fintols does not tell you whether to buy or sell Safran, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Safran stock trades at €292.50, 20% below its 52-week high (€366.50) and 11% above its low (€262.60). Its P/E is 31.4x against a aerospace and defence median of 24.9x, and 23.3x on the earnings analysts expect over the next 12 months. With Safran, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Safran pay a dividend?
Yes. As of November 4, 2026, Safran pays €3.35 per share a year, which at today's price is a yield of 1.18%. It uses 36% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 0.67%. The aerospace and defence median on Fintols is 1.17%.
Is Safran stock expensive?
It depends on what you compare it with. On P/E, Safran trades at 31.4x its last 12 months of earnings: more expensive than the aerospace and defence median (24.9x). Including its debt, Safran is valued at 19.1x its EBITDA (EV/EBITDA). A high P/E alone does not make Safran expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Safran's competitors?
On Fintols we compare Safran with Airbus, Rheinmetall and Rocket Lab, which are also in aerospace and defence. As of November 4, 2026, Airbus is worth €157.9 billion and trades on a P/E of 25.7; Rheinmetall is worth €46.8 billion and trades on a P/E of 39.0; Rocket Lab is worth $33.5 billion. Each has a side-by-side comparison with Safran below.
Safran competitors
- Airbus (AIR.PA) analysis · Safran vs Airbus comparison
- Rheinmetall (RHM.DE) analysis · Safran vs Rheinmetall comparison
- Rocket Lab (RKLB) analysis · Safran vs Rocket Lab comparison
To understand Safran better
- How to Write an Investment Thesis (Step by Step)
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Safran: aerospace and defence stocks and Euro Stoxx 50 companies. Open the full SAF.PA analysis with its valuation and scenarios. Educational content about Safran, not investment advice.