Amadeus IT Group, S.A.
Amadeus IT Group, S.A., together with its subsidiaries, operates as a transaction processor for the travel and tourism industry in Europe, Central and South America, the Middle East, Africa, and Asia Pacific. It operates in three segments: Air Distribution, Air IT Solutions, and Hospitality & Other…
Amadeus IT Group, S.A., together with its subsidiaries, operates as a transaction processor for the travel and tourism industry in Europe, Central and South America, the Middle East, Africa, and Asia Pacific. It operates in three segments: Air Distribution, Air IT Solutions, and Hospitality & Other Solutions. The company acts as an international network providing real-time search, pricing, booking, ticketing, and other processing solutions through Amadeus GDS, Alt"a Passenger Service System, and New Skies platforms. It also offers travel providers a portfolio of technology solutions, which automate certain mission-critical business processes, such as reservations, inventory management, payments, and departure control. In addition, the company is involved in the installation of industrial machinery and equipment; provision of mobility, insurance and ferry, travel advertising, software development and definition, software distribution, distribution, regional support and management, data processing, intermediation, computer consulting, consultancy and technology development for digital invoicing and payments, and information technology services; and e-commerce business. It serves providers of travel products and services, such as network, domestic, low-cost, and charter carrier airlines; airports; independent property and big chain hotels; mainstream, specialist, and vertically integrated tour operators; insurance companies; land and sea transport companies, including car rental, railway, cruise line, and ferry line companies; travel sellers and brokers, such as offline and online travel agencies; and travel buyers. Amadeus IT Group S.A. has strategic collaborate with Accenture plc to develop Amadeus travel advertising platform. The company was formerly known as Amadeus IT Holding, S.A. and changed its name to Amadeus IT Group, S.A. in August 2016. Amadeus IT Group, S.A. was founded in 1987 and is headquartered in Madrid, Spain.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Other models: EUR 37.98–64.38 (median 45.20). The recommended value is 36% above that median, so treat the upside with extra caution.
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 TTM through 30 Jun 2026 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 10.03% 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 10.03%, discount rate 11.50%, terminal growth 3.25% (sector defaults). See a worked example.
Blended growth assumption: 10.0% (sector default 8.5%, own revenue history 13.3%, analyst revenue consensus 9.2%).
Analyst consensus expects revenue growth of 9.2% a year; the growth assumption used is 10.0%.
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 61.60 (+2.8%)
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EPS-based Gordon proxy
— EUR 37.98 (-36.6%)
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 61.60 (+2.8%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 45.20 (-24.5%)
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 64.38 (+7.5%)
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 60.98 (+1.8%)
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 142.01 (+137.1%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear EUR 45.47 | -31.7% |
| Base EUR 61.60 | 2.8% |
| Bull EUR 88.48 | 32.3% |
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 59.90 the market implies about this annual free-cash-flow growth for 5 years (terminal 3.3%, discount 11.5%).
Compare: the market implies 9.4% a year, this model assumes 10.0%. 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% |
|---|---|---|---|---|---|
| 6.0% | 70.16 | 59.52 | 51.46 | 45.15 | 40.07 |
| 8.0% | 76.86 | 65.19 | 56.36 | 49.44 | 43.87 |
| 10.0% | 84.05 | 71.27 | 61.60 | 54.03 | 47.94 |
| 12.0% | 91.75 | 77.78 | 67.21 | 58.94 | 52.30 |
| 14.0% | 99.99 | 84.75 | 73.21 | 64.19 | 56.94 |
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: 100 / 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 +10.1% a year | 20 / 20 |
| Balance sheet | net debt 1.0x EBITDA | 20 / 20 |
| Margins | EBITDA margin 38% | 20 / 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 |
|---|---|---|---|---|---|---|
| AMS.MC (this company) | EUR 59.90 | 2.8% | 19.7 | 5.6 | 2.4% | 100 |
| 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 1.54 per share · yield 2.57% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.540 |
| 2025 | 1.390 |
| 2024 | 1.240 |
| 2023 | 0.740 |
| 2020 | 0.560 |
Trailing 12-month financials
TTM through 30 Jun 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:56
| Revenue | EUR 6,591,800,000 |
|---|---|
| EBITDA | EUR 2,532,400,000 |
| EBIT | EUR 1,770,000,000 |
| Net income | EUR 1,309,000,000 |
| Free cash flow | EUR 1,767,200,000 |
| Capital expenditures | EUR 395,000,000 |
| Debt | EUR 3,597,500,000 |
| Cash | EUR 976,000,000 |
| Working capital | EUR -919,400,000 |
| Shares outstanding | 431,300,000 |
| Reported dividends per share | EUR 1.4438 |