Dassault Aviation SA

AM: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€127.00	Hklnf	Gdnxmkqqw

Initiating Coverage of Dassault Aviation With a Wide Moat and Fair Value Estimate of EUR 204

Loredana Muharremi

Feb 2, 2024

Business Strategy and Outlook

Dassault Aviation maintains a healthy balance between its civil (30% of revenue) and defense sector (70% of the revenue). We believe the firm has a positive outlook, supported by a strong defense order backlog, potential for a recovery in business jet market share, and steady aftermarket business.

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