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French IT consulting and outsourcing firm helping large companies with technology, digital transformation and business process services.
French IT consulting and outsourcing firm helping large companies with technology, digital transformation and business process services.
Bills clients for staff time or for fixed-price projects and multi-year outsourcing contracts, so earnings follow staff utilisation and headcount rather than product sales. A large share of its workforce is in India. It agreed in 2025 to buy WNS, a business-process outsourcing firm, to add AI-run outsourced services.
In one line: France's Accenture..
Moat: narrow (switching costs, scale, installed base). Long-term outsourcing contracts and embedded systems integration work make switching providers costly for clients.
Headquarters: Paris, France · Founded: 1967 · Employees: 423,405
Size Capgemini (CAP.PA) is a France Information Technology company (Information Technology Services) with a market value of $24.1B, the 31st largest of 206 France companies the cockpit tracks. Shares closed at €126.90 on 6 Nov 2026.
Performance Over six months the shares gained 31.2%, against +26.5% for the median peer and -0.4% for the France market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.2% over the last twelve months (peer median +11.0%); the operating margin is 11.5% (peer median 10.9%).
Valuation It trades at 10.4× forward earnings against a peer median of 19.0× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points above its cost of capital (7.8% WACC).
Credit Capgemini has 9 bonds outstanding ($9.25B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 100 bp.
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €23.4B | €22.5B | €22.1B | €22.5B | €22.0B |
| Revenue growth | — | +2% | -2% | +2% | — |
| Gross profit | €5.86B | €5.65B | €5.64B | €5.64B | €5.70B |
| EBITDA | €3.45B | €3.25B | €3.20B | €3.29B | €3.45B |
| Net income | €1.38B | €1.60B | €1.67B | €1.66B | €1.55B |
| Free cash flow | €2.15B | €2.18B | €2.25B | €2.25B | €2.16B |
| Capital expenditure | €279M | €287M | €315M | €259M | €290M |
| Total debt | n/a | €9.46B | €6.08B | €6.59B | €7.55B |
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 |
|---|---|---|---|---|---|---|
| Capgemini CAP.PA | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% |
| Accenture ACN | $154B | +44% | +6% | 15% | 17.8× | 3.7% |
| Infosys Limited Sponsored ADR INFY | $48.5B | -3% | -1% | 21% | 15.4× | -2.0% |
| Tata Consultancy Services TCS.NS | $95.7B | +4% | +10% | 25% | 16.2× | 12.0% |
| Atos ATO.PA | $555M | -35% | -14% | 6% | n/a | n/a |
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 | CAP.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.5% | +4.5% | 7th highest of 21 |
| 6-month return | +31.2% | +26.5% | 7th highest of 21 |
| Distance from 52-week high | -17.1% | -22.9% | 8th highest of 21 |
| Revenue growth (TTM) | +6.2% | +11.0% | 5th lowest of 21 |
| Operating margin | 11.5% | 10.9% | 11th highest of 21 |
| Forward P/E | 10.4× | 19.0× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 8.1% | 3rd least demanding of 19 |
| Growth delivered (Del g) | +7.2% | +8.4% | 8th lowest of 19 |
| Hurdle (Req g minus delivered) | -7.3 pp | +0.5 pp | 4th least demanding of 19 |
| ROIC minus cost of capital | +2.5 pp | +5.3 pp | 8th lowest of 20 |
| EV / EBITDA | 8.4× | 15.2× | 3rd cheapest of 15 |
| Net debt / EBITDA | 2.2× | 0.2× | 3rd most indebted of 16 |
| Bond spread | 100 bp | 104 bp | 2nd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Capgemini CAP.PA | France | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% | +7.2% |
| HP Inc. HPQ | United States | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% | -0.4% |
| Credo Technology CRDO | United States | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% | +86.8% |
| Rubrik RBRK | United States | $21.9B | +70% | +42% | -18% | 215.0× | 36.2% | +27.7% |
| Wipro WIPRO.NS | India | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% | +8.4% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| Cognizant CTSH | United States | $28.9B | +26% | +5% | -1% | 10.5× | 0.8% | +4.9% |
| CDW CDW | United States | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% | +4.0% |
| Tech Mahindra TECHM.NS | India | $19.0B | +26% | +14% | 14% | 23.9× | 20.3% | +8.5% |
| CGI GIB-A.TO | Canada | $17.2B | +27% | +6% | 17% | 12.2× | -12.0% | +5.5% |
| OBIC 4684.T | Japan | $16.6B | +46% | +13% | 67% | 30.3× | 4.6% | +10.0% |
| Fujitsu 6702.T | Japan | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% | -0.5% |
| Nec 6701.T | Japan | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% | +3.7% |
| HCL Technologies HCLTECH.NS | India | $41.4B | +22% | +13% | 18% | 19.5× | 11.8% | +11.5% |
| CACI International CACI | United States | $13.6B | +27% | +10% | 10% | 17.6× | 7.3% | +9.6% |
| Bentley Systems BSY | United States | $13.5B | +36% | +13% | 24% | 31.4× | 22.8% | +13.4% |
| Guidewire Software GWRE | United States | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% | +14.7% |
| iflytek 002230.SZ | China | $13.2B | -20% | +11% | -4% | 106.3× | n/a | n/a |
| Workday WDAY | United States | $46.5B | +51% | +14% | 13% | 16.0× | 19.7% | +17.3% |
| Samsung Sds 018260.KS | South Korea | $12.4B | +31% | +2% | 5% | 24.9× | 13.0% | +4.8% |
| Ruijie Networks 301165.SZ | China | $11.7B | +6% | +30% | 5% | 48.3× | n/a | n/a |
Capgemini has 9 bonds outstanding with $9.25B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 4.20%, a spread of 100 bp over government bonds.