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French global leader in outsourced customer-experience and call-center services (BPO) for large corporate clients worldwide.
French global leader in outsourced customer-experience and call-center services (BPO) for large corporate clients worldwide.
Is paid by clients on multi-year contracts, usually per hour or per transaction handled by its agents, so its main cost is people, and it moves work between countries to manage cost. It grew largely through acquisitions, including Majorel in 2023, and is repositioning toward AI-assisted services as clients automate simple contacts.
In one line: The world's largest call-center/BPO company, akin to a much bigger Concentrix.
Moat: narrow (scale, switching costs, installed base). Largest global CX scale and embedded, multi-year outsourcing contracts, but faces AI-driven disintermediation risk.
Headquarters: Paris, France · Founded: 1978 · Employees: 446,716
Size Teleperformance (TEP.PA) is a France Industrials company (Miscellaneous Commercial Services) with a market value of $4.60B, the 68th largest of 206 France companies the cockpit tracks. Shares closed at €68.44 on 6 Nov 2026.
Performance Over six months the shares gained 2.9%, against +12.6% for the median peer and -0.4% for the France market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 3.3% over the last twelve months (peer median +7.0%); the operating margin is 10.4% (peer median 11.2%).
Valuation It trades at 5.0× forward earnings against a peer median of 14.7× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.9 points above its cost of capital (6.5% WACC).
Credit Teleperformance has 7 bonds outstanding ($3.90B), rated BBB by the agencies and trading like BBB at a weighted spread of 172 bp.
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €9.98B | €10.2B | €10.3B | €8.35B | €8.15B |
| Revenue growth | — | -1% | +23% | +2% | — |
| Gross profit | €1.10B | €2.25B | €2.24B | €1.84B | €1.81B |
| EBITDA | €1.76B | €1.94B | €1.94B | €1.63B | €1.62B |
| Net income | €464M | €497M | €523M | €592M | €643M |
| Free cash flow | €1.17B | €1.18B | €1.39B | €1.05B | €947M |
| Capital expenditure | €232M | €253M | €219M | €233M | €298M |
| Total debt | n/a | €4.97B | €4.95B | €5.44B | €3.42B |
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 |
|---|---|---|---|---|---|---|
| Teleperformance TEP.PA | $4.60B | +3% | -3% | 10% | 5.0× | -10.2% |
| Concentrix CNXC | $1.85B | +25% | +3% | 8% | 2.6× | -11.9% |
| TaskUs TASK | $833M | +41% | +11% | 12% | 6.5× | 0.5% |
| IBEX IBEX | $661M | +53% | +15% | 9% | 13.1× | 0.3% |
| Genpact G | $7.07B | +30% | +7% | 16% | 9.9× | -7.5% |
| Firstsource Solutions FSL.NS | $2.16B | +25% | +20% | 12% | 22.0× | 20.3% |
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 | TEP.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | +8.3% | 6th lowest of 21 |
| 6-month return | +2.9% | +12.6% | 8th lowest of 21 |
| Distance from 52-week high | -17.2% | -12.3% | 6th lowest of 21 |
| Revenue growth (TTM) | -3.3% | +7.0% | lowest of 21 |
| Operating margin | 10.4% | 11.2% | 9th lowest of 21 |
| Forward P/E | 5.0× | 14.7× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -10.2% | 2.9% | least demanding of 18 |
| Growth delivered (Del g) | +12.2% | +11.3% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | -22.4 pp | -7.2 pp | 4th least demanding of 18 |
| ROIC minus cost of capital | +2.9 pp | +4.3 pp | 8th lowest of 18 |
| EV / EBITDA | 4.6× | 9.8× | cheapest of 17 |
| Net debt / EBITDA | 2.3× | 1.4× | 5th most indebted of 17 |
| Bond spread | 172 bp | 152 bp | 3rd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Teleperformance TEP.PA | France | $4.60B | +3% | -3% | 10% | 5.0× | -10.2% | +12.2% |
| Brink's BCO | United States | $4.54B | +3% | +7% | 10% | 11.8× | 0.1% | +7.3% |
| Dizal Pharmaceutical 688192.SS | China | $4.68B | +18% | +720% | 69% | 9.5× | -8.4% | +95.9% |
| L&T Technology Services LTTS.NS | India | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% | +15.1% |
| Aalberts AALB.AS | Netherlands | $4.87B | +6% | 0% | 10% | 14.6× | 12.9% | +3.4% |
| East Buy 1797.HK | Hong Kong | $4.11B | +22% | +34% | 11% | 38.5× | 18.4% | +54.3% |
| SAI Life Sciences SAILIFE.NS | India | $4.02B | +64% | +27% | 21% | 89.2× | n/a | n/a |
| PhysicsWallah PWL.NS | India | $4.00B | +18% | +35% | 1% | 100.9× | n/a | n/a |
| Centre Testing International 300012.SZ | China | $3.96B | -5% | +15% | 16% | 22.1× | 14.2% | +13.2% |
| FTI Consulting FCN | United States | $5.33B | +19% | +8% | 10% | 18.7× | -3.6% | +9.0% |
| Reply REY.MI | Italy | $5.46B | +41% | +6% | 13% | 17.0× | 2.9% | +14.4% |
| Alsok 2331.T | Japan | $3.79B | -1% | +7% | 8% | 13.7× | -6.0% | +4.9% |
| GEO GEO | United States | $3.66B | +28% | +15% | 12% | 13.5× | 6.8% | +2.3% |
| Serco SRP.L | United Kingdom | $3.60B | +5% | +1% | 5% | 14.9× | 1.9% | +4.9% |
| Beijing Compass Technology Development 300803.SZ | China | $5.91B | -23% | +12% | 0% | 174.6× | 46.9% | +25.3% |
| MITIE MTO.L | United Kingdom | $3.56B | +23% | +11% | 3% | 14.2× | 14.1% | +17.6% |
| Nexi NEXI.MI | Italy | $5.93B | +18% | +1% | 13% | 7.0× | 1.5% | +30.5% |
| Loomis LOOMIS.ST | Sweden | $3.46B | +12% | +1% | 11% | 12.6× | -9.1% | +9.7% |
| MAXIMUS MMS | United States | $3.43B | +2% | -3% | 11% | 7.9× | -8.5% | +9.4% |
| Shenzhen Fortune Trend Technology 688318.SS | China | $3.36B | -21% | -3% | 56% | 69.5× | n/a | n/a |
| Elis ELIS.PA | France | $6.44B | -12% | +5% | 13% | 12.0× | 10.1% | +11.3% |
Teleperformance has 7 bonds outstanding with $3.90B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 4.85%, a spread of 172 bp over government bonds.