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Makes 3D design and simulation software (CATIA, SOLIDWORKS) used to design planes, cars, drugs and factories.
Makes 3D design and simulation software (CATIA, SOLIDWORKS) used to design planes, cars, drugs and factories.
Most revenue is recurring subscriptions and annual maintenance on software that engineers use daily, with SOLIDWORKS sold largely through resellers to smaller firms. The Dassault family, through its holding company, is the controlling shareholder. The 2019 purchase of Medidata, which runs clinical-trial data, moved it into life sciences software beyond engineering.
In one line: France's Autodesk/PTC.
Moat: wide (switching costs, installed base, IP / patents). Deep embedding in aerospace/auto design workflows makes CATIA extremely costly to rip out.
Headquarters: Velizy-Villacoublay, France · Founded: 1981 · Employees: 24,997
Size Dassault Systemes (DSY.PA) is a France Information Technology company (Packaged Software) with a market value of $39.0B, the 22nd largest of 206 France companies the cockpit tracks. Shares closed at €25.95 on 6 Nov 2026.
Performance Over six months the shares gained 32.3%, against +7.0% for the median peer and -0.4% for the France market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 0.2% over the last twelve months (peer median +23.8%); the operating margin is 25.6% (peer median 7.4%).
Valuation It trades at 19.2× forward earnings against a peer median of 28.7× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.1 points above its cost of capital (7.8% WACC).
Credit Dassault Systemes has 2 bonds outstanding ($2.39B), rated A by the agencies and trading like A+ at a weighted spread of 75 bp.
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.30B | €6.24B | €6.21B | €5.95B | €5.67B |
| Revenue growth | — | 0% | +4% | +5% | — |
| Gross profit | €4.98B | €4.88B | €4.84B | €4.60B | €4.34B |
| EBITDA | €2.15B | €1.95B | €1.95B | €1.87B | €1.93B |
| Net income | €1.34B | €1.20B | €1.20B | €1.05B | €932M |
| Free cash flow | €1.72B | €1.47B | €1.47B | €1.42B | €1.39B |
| Capital expenditure | €141M | €160M | €193M | €145M | €132M |
| Total debt | €2.77B | €3.17B | €3.06B | €3.60B | €3.58B |
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 |
|---|---|---|---|---|---|---|
| Dassault Systemes DSY.PA | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% |
| Autodesk ADSK | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| PTC PTC | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% |
| Synopsys SNPS | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% |
| Bentley Systems BSY | $13.5B | +36% | +13% | 24% | 31.4× | 22.8% |
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 | DSY.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.2% | +0.1% | 4th highest of 21 |
| 6-month return | +32.3% | +7.0% | 8th highest of 20 |
| Distance from 52-week high | -1.2% | -28.5% | 2nd highest of 21 |
| Revenue growth (TTM) | -0.2% | +23.8% | lowest of 21 |
| Operating margin | 25.6% | 7.4% | 5th highest of 21 |
| Forward P/E | 19.2× | 28.7× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 27.9% | 3rd least demanding of 16 |
| Growth delivered (Del g) | +7.0% | +24.6% | lowest of 16 |
| Hurdle (Req g minus delivered) | +1.3 pp | +1.7 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | +6.1 pp | -4.3 pp | 8th highest of 20 |
| EV / EBITDA | 15.7× | 22.7× | 3rd cheapest of 13 |
| Net debt / EBITDA | -0.5× | -0.2× | 9th least indebted of 19 |
| Bond spread | 75 bp | 103 bp | 2nd tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dassault Systemes DSY.PA | France | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% | +7.0% |
| Atlassian TEAM | United States | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% | +25.8% |
| NBIS NBIS | United States | $35.2B | -8% | +461% | -49% | n/a | n/a | n/a |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 40.5× | 20.7% | +37.9% |
| Roper Technologies ROP | United States | $47.2B | +39% | +9% | 28% | 19.7× | 12.7% | +10.2% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% | +23.5% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Constellation Software CSU.TO | Canada | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% | +25.0% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
| Autodesk ADSK | United States | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% | +13.7% |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 17.8× | 4.3% | +24.6% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | n/a | n/a | n/a |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 14.7× | 5.8% | +12.9% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | n/a | n/a | n/a |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 44.7× | 27.9% | +33.1% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 48.5× | n/a | n/a |
| Datadog DDOG | United States | $64.3B | -11% | +33% | 2% | 61.0× | n/a | n/a |
| Hithink RoyalFlush Information Network 300033.SZ | China | $22.9B | -14% | +48% | 56% | 32.7× | 37.1% | +16.3% |
| Unity Software U | United States | $22.7B | +83% | +14% | -14% | 49.4× | 33.5% | +19.1% |
| PTC PTC | United States | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% | +8.6% |
| Toast TOST | United States | $20.1B | +38% | +22% | 7% | 20.9× | 28.6% | +49.5% |
Dassault Systemes has 2 bonds outstanding with $2.39B face value. The agencies rate it A; its bonds trade like A+. Weighted yield 3.76%, a spread of 75 bp over government bonds.