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French global market-research firm conducting surveys, polling and consumer insights for corporate and public-sector clients.
French global market-research firm conducting surveys, polling and consumer insights for corporate and public-sector clients.
Sells research projects, mostly custom studies for large consumer companies, priced per project and recognised as the work is delivered. Clients such as consumer brands re-run studies, but spending follows their marketing budgets. The company has grown mainly through acquisitions of smaller research firms.
In one line: A French Nielsen/Gallup for market research.
Moat: narrow (brand, scale, data). Global panel/data infrastructure and brand trust in polling, but research is increasingly commoditized by digital tools.
Headquarters: Paris, France · Founded: 1975 · Employees: 18,925
Size Ipsos (IPS.PA) is a France Industrials company (Miscellaneous Commercial Services) with a market value of $1.74B, the 113th largest of 206 France companies the cockpit tracks. Shares closed at €35.92 on 6 Nov 2026.
Performance Over six months the shares fell 2.5%, against -0.9% for the median peer and -0.4% for the France market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +12.8%); the operating margin is 11.8% (peer median 13.5%).
Valuation It trades at 7.0× forward earnings against a peer median of 20.3× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.4 points above its cost of capital (7.4% WACC).
Credit Ipsos has 1 bond outstanding ($446M), rated Baa3 by the agencies and trading like BBB at a weighted spread of 122 bp.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.54B | €2.52B | €2.44B | €2.39B | €2.41B |
| Revenue growth | — | +3% | +2% | -1% | — |
| Gross profit | €499M | €504M | €504M | €478M | €468M |
| EBITDA | €403M | €407M | €403M | €425M | €390M |
| Net income | €174M | €187M | €205M | €160M | €215M |
| Free cash flow | €288M | €291M | €321M | €261M | €299M |
| Capital expenditure | €75.0M | €83.1M | €70.7M | €58.6M | €54.8M |
| Total debt | n/a | €662M | €509M | €519M | €584M |
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 |
|---|---|---|---|---|---|---|
| Ipsos IPS.PA | $1.74B | -3% | +3% | 12% | 7.0× | -10.8% |
| YouGov YOU.L | $437M | +45% | +2% | 4% | 8.4× | 16.7% |
| Gartner IT | $12.0B | +20% | 0% | 19% | 11.8× | -4.0% |
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 | IPS.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.1% | +3.7% | 6th lowest of 21 |
| 6-month return | -2.5% | -0.9% | 10th lowest of 21 |
| Distance from 52-week high | -16.4% | -30.7% | 9th highest of 21 |
| Revenue growth (TTM) | +3.4% | +12.8% | 6th lowest of 20 |
| Operating margin | 11.8% | 13.5% | 8th lowest of 20 |
| Forward P/E | 7.0× | 20.3× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -10.8% | 3.9% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +6.6% | +10.6% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | -17.4 pp | -7.5 pp | 4th least demanding of 14 |
| ROIC minus cost of capital | +4.4 pp | +2.1 pp | 7th highest of 17 |
| EV / EBITDA | 4.7× | 14.6× | cheapest of 9 |
| Net debt / EBITDA | 0.8× | -0.0× | 5th most indebted of 10 |
| Bond spread | 122 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ipsos IPS.PA | France | $1.74B | -3% | +3% | 12% | 7.0× | -10.8% | +6.6% |
| Choice International CHOICEIN.NS | India | $1.76B | +8% | +34% | 27% | 49.8× | n/a | n/a |
| GRG Metrology & Test 002967.SZ | China | $1.72B | -16% | +13% | 13% | 22.7× | 3.9% | +14.4% |
| Visual China 000681.SZ | China | $1.71B | -25% | -9% | 4% | 44.0× | n/a | n/a |
| Syngene International SYNGENE.NS | India | $1.78B | -11% | -6% | 13% | 67.8× | 35.3% | +11.4% |
| Prosegur Compania de Seguridad PSG.MC | Spain | $1.79B | +9% | +1% | 6% | 11.8× | -5.3% | +6.7% |
| China Conch Venture 0586.HK | Hong Kong | $1.79B | -36% | +21% | 18% | 5.5× | n/a | n/a |
| Hoist Finance HOFI.ST | Sweden | $1.79B | +29% | +16% | 30% | 11.9× | n/a | n/a |
| Guangdong Feinan Resources Recycling 301500.SZ | China | $1.68B | -31% | +42% | 7% | n/a | n/a | n/a |
| Beijing Orient EcoEnergy 002310.SZ | China | $1.81B | -24% | +35% | 12% | n/a | 36.4% | -47.6% |
| Kruk KRU.WA | Poland | $1.65B | -22% | +8% | 77% | 6.9× | -2.1% | +16.8% |
| Healthcare Services HCSG | United States | $1.64B | +5% | +4% | 6% | 20.6× | 3.4% | +0.9% |
| Teemsun Technology 301571.SZ | China | $1.86B | 0% | +61% | 22% | n/a | n/a | n/a |
| Focus Technology 002315.SZ | China | $1.86B | -1% | +14% | 24% | 22.1× | 3.2% | +10.6% |
| International Gemological Institute IGIL.NS | India | $1.86B | +12% | +21% | 58% | 24.4× | 14.6% | +37.6% |
| PharmaBlock Sciences (Nanjing) 300725.SZ | China | $1.61B | +16% | +11% | 11% | 44.6× | 27.8% | +14.1% |
| Insperity NSP | United States | $1.90B | +53% | +2% | 0% | 19.9× | 19.5% | +9.7% |
| eClerx Services ECLERX.NS | India | $1.59B | 0% | +22% | 20% | 19.4× | 17.2% | +21.4% |
| Jiangsu Guotai International 002091.SZ | China | $1.91B | -11% | +7% | 6% | 10.0× | -20.9% | +5.5% |
| Xi'an Taijin New Energy & Materials Sci-Tech 688813.SS | China | $1.93B | -13% | n/a | n/a | n/a | n/a | n/a |
| MEITEC 9744.T | Japan | $1.57B | +3% | +2% | 14% | 18.7× | -4.6% | +7.3% |
Ipsos has 1 bond outstanding with $446M face value. The agencies rate it Baa3; its bonds trade like BBB. Weighted yield 4.21%, a spread of 122 bp over government bonds.