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French engineering consultancy providing outsourced R&D and IT engineers to automotive, aerospace, telecom and energy clients.
French engineering consultancy providing outsourced R&D and IT engineers to automotive, aerospace, telecom and energy clients.
Bills clients by the day or by project for engineers it employs, so income is billed engineers times days times rate, and keeping consultants busy and hiring ahead of demand are the levers. Automotive and aerospace work comes from customers' research budgets, which they can cut quickly in downturns.
In one line: A French Cognizant for engineering R&D.
Moat: narrow (scale, installed base). Large pool of specialized engineers and long client relationships, but people-based business with low switching costs.
Headquarters: Boulogne-Billancourt, France · Founded: 1988 · Employees: 57,400
Size Alten (ATE.PA) is a France Industrials company (Engineering & Construction) with a market value of $3.43B, the 81st largest of 206 France companies the cockpit tracks. Shares closed at €87.25 on 6 Nov 2026.
Performance Over six months the shares gained 42.8%, against -14.3% for the median peer and -0.4% for the France market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +5.9%); the operating margin is 8.4% (peer median 6.7%).
Valuation It trades at 11.4× forward earnings against a peer median of 13.0× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points below its cost of capital (11.6% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €4.12B | €4.10B | €4.14B | €4.07B | €3.78B |
| Revenue growth | — | -1% | +2% | +8% | — |
| Gross profit | €372M | €533M | €507M | €589M | €583M |
| EBITDA | €448M | €417M | €450M | €443M | €471M |
| Net income | €138M | €107M | €186M | €233M | €458M |
| Free cash flow | €342M | €319M | €415M | €222M | €210M |
| Capital expenditure | €13.0M | €12.8M | €17.6M | €20.9M | €26.1M |
| Total debt | n/a | €289M | €371M | €368M | €422M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Alten ATE.PA | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% |
| Adecco ADEN.SW | $4.82B | +24% | 0% | 2% | 10.3× | -3.5% |
| Capgemini CAP.PA | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% |
| Assystem ASY.PA | $574M | -16% | +4% | 5% | 15.7× | 11.1% |
| Sopra Steria SOP.PA | $4.29B | +50% | +2% | 9% | 11.2× | -0.6% |
| L&T Technology Services LTTS.NS | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% |
| Tata Elxsi TATAELXSI.NS | $2.52B | -10% | +10% | 20% | 32.7× | 25.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ATE.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.5% | -3.4% | 2nd highest of 21 |
| 6-month return | +42.8% | -14.3% | highest of 21 |
| Distance from 52-week high | -5.2% | -30.0% | 3rd highest of 21 |
| Revenue growth (TTM) | +0.1% | +5.9% | 6th lowest of 21 |
| Operating margin | 8.4% | 6.7% | 8th highest of 21 |
| Forward P/E | 11.4× | 13.0× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 1.5% | 9th most demanding of 19 |
| Growth delivered (Del g) | +11.9% | +8.1% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | -8.5 pp | -4.4 pp | 7th least demanding of 19 |
| ROIC minus cost of capital | -0.2 pp | +2.6 pp | 7th lowest of 18 |
| EV / EBITDA | 6.8× | 9.6× | 2nd cheapest of 14 |
| Net debt / EBITDA | 0.0× | 1.0× | 8th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |