Capgemini SE
Capgemini SE, together with its subsidiaries, provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America. It offers strategy and transformation services in…
Capgemini SE, together with its subsidiaries, provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America. It offers strategy and transformation services in strategy, technology, engineering, data science, and creative design fields to support companies and organizations in creating new models and new products within the digital economy. The company provides applications and technology services to help clients to develop, modernize, extend, and secure IT and digital environment, as well as designs and develops technological solutions in data strategy and architecture, data engineering, information governance, data science and analytics, artificial intelligence, and data-driven innovation fields. In addition, it offers cloud infrastructure services for its clients to build an optimal, agile, and secure foundation for business transformations; and business process outsourcing and transactional services, as well as installation and maintenance services for its clients' IT infrastructures in data centers or in the cloud. The company serves various industries, including aerospace and defense, automotive, banking and capital markets, consumer products, energy and utilities, healthcare, high-tech, hospitality and travel, insurance, life sciences, manufacturing, media and entertainment, public sector, retail, and telecoms. The company has a strategic alliance with OpenAI for the development and deployment of enterprise AI solutions. The company was formerly known as Cap Gemini S.A. and changed its name to Capgemini SE in June 2017. It has a strategic partnership with Duality Technologies to help organizations operationalize secure AI and analytics across sensitive, regulated, and distributed data environments. The company was incorporated in 1967 and is headquartered in Paris, France.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Other models: EUR 114.24–186.07 (median 118.92). The recommended value is in line with them.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price within modeled range
Free-cash-flow DCF using Fiscal year 2025 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 5.55% growth, 3.25% terminal growth, and 11.5% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 5.55%, discount rate 11.50%, terminal growth 3.25% (sector defaults). See a worked example.
Blended growth assumption: 5.5% (sector default 8.5%, own revenue history 5.5%, analyst revenue consensus 4.1%).
Analyst consensus expects revenue growth of 4.1% a year; the growth assumption used is 5.6%.
Adjust assumptions
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 134.49 (+6.0%)
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EPS-based Gordon proxy
— EUR 114.24 (-10.0%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 134.49 (+6.0%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 118.92 (-6.3%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 186.07 (+46.6%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 133.85 (+5.5%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 476.71 (+275.7%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear EUR 94.08 | -34.9% |
| Base EUR 134.49 | 5.6% |
| Bull EUR 201.79 | 37.1% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At EUR 126.90 the market implies about this annual free-cash-flow growth for 5 years (terminal 3.3%, discount 11.5%).
Compare: the market implies 4.5% a year, this model assumes 5.6%. The model is more optimistic than the price, which is why it reads as undervalued.
How the Free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 9.5% | 10.5% | 11.5% | 12.5% | 13.5% |
|---|---|---|---|---|---|
| 1.5% | 154.07 | 127.98 | 108.20 | 92.70 | 80.21 |
| 3.6% | 171.37 | 142.64 | 120.88 | 103.82 | 90.09 |
| 5.6% | 189.97 | 158.40 | 134.49 | 115.76 | 100.69 |
| 7.6% | 209.96 | 175.32 | 149.09 | 128.56 | 112.04 |
| 9.6% | 231.40 | 193.46 | 164.74 | 142.27 | 124.20 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 90 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +5.5% a year | 20 / 20 |
| Balance sheet | net debt 2.0x EBITDA | 20 / 20 |
| Margins | EBITDA margin 14% | 10 / 20 |
Peers in Information Technology
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| CAP.PA (this company) | EUR 126.90 | 5.6% | 13.9 | 1.9 | 2.6% | 90 |
| SMCI Supermicro | USD 27.08 | 50.8% | 8.5 | 1.3 | – | 68 |
| SNDK Sandisk | USD 806.43 | 44.1% | 6.4 | 6.8 | – | 76 |
| ADBE Adobe Inc. | USD 246.44 | 42.5% | 13.4 | 8.3 | – | 100 |
| IT Gartner | USD 198.07 | 35.7% | 13.3 | – | – | 92 |
| INTU Intuit | USD 354.84 | 31.9% | 21.1 | 5.1 | 1.4% | 100 |
| HPQ HP Inc. | USD 29.44 | 31.6% | 11.1 | – | 4.0% | 64 |
| GIB-A.TO CGI Inc. | CAD 115.51 | 26.9% | 13.9 | 2.4 | 0.6% | 90 |
| FSLR First Solar | USD 195.76 | 25.9% | 11.3 | 1.9 | – | 84 |
| Peer median | 12.3 | 3.7 | ||||
Dividends
Paid in the last 12 months: EUR 3.40 per share · yield 2.68% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 3.400 |
| 2025 | 3.400 |
| 2024 | 3.400 |
| 2023 | 3.250 |
| 2022 | 2.400 |
| 2021 | 1.950 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 22,465,000,000 |
|---|---|
| EBITDA | EUR 3,255,000,000 |
| EBIT | EUR 2,557,000,000 |
| Net income | EUR 1,601,000,000 |
| Free cash flow | EUR 2,180,000,000 |
| Capital expenditures | EUR 287,000,000 |
| Debt | EUR 9,458,000,000 |
| Cash | EUR 3,032,000,000 |
| Working capital | EUR 1,419,000,000 |
| Shares outstanding | 175,390,017 |
| Reported dividends per share | EUR 3.3126 |