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Swiss maker of core banking software used by banks worldwide to run deposits, loans and payments systems.
Swiss maker of core banking software used by banks worldwide to run deposits, loans and payments systems.
Sells banks the right to run its software, now more often as annual subscriptions than one-off licences, plus maintenance and implementation work, so contracts renew for many years. A new bank customer usually takes years to switch over, so wins show up in revenue slowly. Based in Geneva, its customers range from large retail banks to small digital lenders.
In one line: A Swiss Fiserv/FIS (core banking software).
Moat: narrow (switching costs, installed base). Core banking systems are mission-critical and costly/risky for banks to replace once implemented.
Headquarters: Geneva, Switzerland · Founded: 1993 · Employees: 5,205
Size Temenos (TEMN.SW) is a Switzerland Information Technology company (Information Technology Services) with a market value of $6.51B, the 47th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 79.15 on 6 Nov 2026.
Performance Over six months the shares gained 9.8%, against +14.1% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 29.8% over the last twelve months (peer median +8.7%); the operating margin is 26.5% (peer median 7.2%).
Valuation It trades at 21.8× forward earnings against a peer median of 15.1× (6th most expensive of 20).
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 +2%, so the hurdle is +7 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 15.6 points above its cost of capital (6.3% WACC).
Credit Temenos has 2 bonds outstanding ($549M), rated BBB by the agencies and trading like BB+ at a weighted spread of 152 bp.
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 879M | CHF 906M | CHF 920M | CHF 899M | CHF 907M |
| Revenue growth | — | -1% | +2% | -1% | — |
| Gross profit | CHF 564M | CHF 665M | CHF 660M | CHF 634M | CHF 599M |
| EBITDA | CHF 328M | CHF 508M | CHF 520M | CHF 483M | CHF 473M |
| Net income | CHF 154M | CHF 233M | CHF 156M | CHF 121M | CHF 109M |
| Free cash flow | CHF 288M | CHF 277M | CHF 295M | CHF 270M | CHF 248M |
| Capital expenditure | CHF 56.6M | CHF 60.7M | CHF 69.1M | CHF 79.6M | CHF 100M |
| Total debt | CHF 679M | CHF 641M | CHF 659M | CHF 644M | CHF 778M |
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 |
|---|---|---|---|---|---|---|
| Temenos TEMN.SW | $6.51B | +10% | +30% | 27% | 21.8× | 8.3% |
| Fiserv FISV | $33.4B | +13% | -2% | 19% | 8.2× | n/a |
| Fidelity National Information Services FIS | $14.8B | -33% | +24% | 22% | 5.1× | n/a |
| Oracle ORCL | $351B | -41% | +22% | 34% | 13.6× | 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 | TEMN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.4% | -1.4% | 2nd highest of 21 |
| 6-month return | +9.8% | +14.1% | 9th lowest of 21 |
| Distance from 52-week high | -9.0% | -24.9% | 4th highest of 21 |
| Revenue growth (TTM) | +29.8% | +8.7% | 5th highest of 21 |
| Operating margin | 26.5% | 7.2% | highest of 21 |
| Forward P/E | 21.8× | 15.1× | 6th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 6.9% | 8th most demanding of 18 |
| Growth delivered (Del g) | +1.7% | +8.8% | 4th lowest of 18 |
| Hurdle (Req g minus delivered) | +6.6 pp | -2.6 pp | 3rd most demanding of 18 |
| ROIC minus cost of capital | +15.6 pp | +4.1 pp | 5th highest of 21 |
| EV / EBITDA | 17.9× | 11.2× | 5th most expensive of 14 |
| Net debt / EBITDA | 1.7× | -0.1× | 6th most indebted of 17 |
| Bond spread | 152 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Temenos TEMN.SW | Switzerland | $6.51B | +10% | +30% | 27% | 21.8× | 8.3% | +1.7% |
| Computacenter CCC.L | United Kingdom | $6.48B | +15% | +54% | 3% | 16.4× | 7.9% | +11.1% |
| Suzhou Centec Communications 688702.SS | China | $6.58B | -45% | +32% | -18% | 5,922.0× | n/a | n/a |
| Xometry XMTR | United States | $6.63B | +44% | +37% | -2% | 91.0× | n/a | n/a |
| RIOT RIOT | United States | $6.27B | -31% | +6% | -84% | n/a | n/a | n/a |
| Science Applications International SAIC | United States | $6.13B | +56% | -1% | 8% | 14.3× | -4.6% | +0.6% |
| Viavi Solutions VIAV | United States | $7.00B | -44% | +40% | 11% | 14.0× | 32.7% | +4.8% |
| NICE Ltd. Sponsored ADR NICE | United States | $5.87B | +4% | +8% | 17% | 7.8× | -0.7% | +12.3% |
| Ingram Micro INGM | United States | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% | +1.4% |
| Box BOX | United States | $5.76B | +63% | +10% | 9% | 26.0× | 20.3% | +8.8% |
| TISI 3626.T | Japan | $5.50B | +20% | +5% | 13% | 15.1× | -7.7% | +5.9% |
| HyundaiAutoever 307950.KS | South Korea | $5.49B | -40% | +16% | 5% | 35.7× | 27.6% | +22.2% |
| Pegasystems PEGA | United States | $5.30B | -10% | +1% | 12% | 13.8× | 8.8% | +11.4% |
| LG Cns 064400.KS | South Korea | $5.29B | +14% | +4% | 9% | 15.5× | 5.6% | +7.2% |
| AppFolio APPF | United States | $8.18B | +39% | +20% | 19% | 28.9× | 18.5% | +25.1% |
| Parsons PSN | United States | $5.16B | -1% | -3% | 5% | 14.8× | 8.4% | +10.2% |
| EPAM Systems EPAM | United States | $8.22B | +61% | +11% | 10% | 11.3× | 9.4% | +15.5% |
| Otsuka 4768.T | Japan | $8.63B | +24% | +9% | 7% | 20.1× | -5.6% | +9.6% |
| Bechtle BC8.DE | Germany | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% | +4.9% |
| KBR KBR | United States | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% | +6.2% |
| Insight Enterprises NSIT | United States | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% | -0.2% |
Temenos has 2 bonds outstanding with $549M face value. The agencies rate it BBB; its bonds trade like BB+. Weighted yield 1.78%, a spread of 152 bp over government bonds.