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French alternative asset manager running private-debt, private-equity, real-assets and capital-markets strategies for institutional investors.
French alternative asset manager running private-debt, private-equity, real-assets and capital-markets strategies for institutional investors.
Earns recurring management fees on money it runs for investors, plus performance fees when funds beat their targets and a return on its own balance sheet, which it uses to seed new funds. Private debt is the largest strategy, and the founders' management company keeps control through a limited-partnership structure.
In one line: A French, smaller Ares Management.
Moat: narrow (scale, brand). Growing multi-strategy AUM and founder-aligned balance sheet, but competes with much larger global credit managers.
Headquarters: Paris, France · Founded: 2004 · Employees: 717
Size Tikehau Capital SCA (TKO.PA) is a France Financials company (Investment Managers) with a market value of $3.24B, the 85th largest of 206 France companies the cockpit tracks. Shares closed at €16.72 on 6 Nov 2026.
Performance Over six months the shares fell 10.5%, against +2.2% for the median peer and -0.4% for the France market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 32.0% over the last twelve months (peer median +19.3%); the operating margin is 31.1% (peer median 29.3%).
Valuation It trades at 10.7× forward earnings against a peer median of 19.5× (3rd cheapest of 19).
Credit Tikehau Capital SCA has 3 bonds outstanding ($1.45B), rated BBB- by the agencies and trading like BBB at a weighted spread of 113 bp.
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €918M | €713M | €699M | €620M | €651M |
| Revenue growth | — | +2% | +13% | -5% | — |
| Gross profit | €785M | €571M | €560M | €468M | €476M |
| Net income | €142M | €42.7M | €179M | €177M | €320M |
| Free cash flow | €333M | €307M | €236M | €193M | €187M |
| Capital expenditure | €0 | €0 | €0 | €0 | €0 |
| Total debt | n/a | €1.99B | €1.64B | €1.50B | €1.49B |
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 |
|---|---|---|---|---|---|---|
| Tikehau Capital SCA TKO.PA | $3.24B | -10% | +32% | 31% | 10.7× | n/a |
| Ares Management ARES | $30.0B | +7% | +7% | 27% | 20.5× | n/a |
| Eurazeo RF.PA | $3.70B | +2% | +18% | -2% | 28.7× | n/a |
| Wendel MF.PA | $4.14B | 0% | -13% | 12% | 29.9× | n/a |
| Antin Infrastructure Partners ANTIN.PA | $1.52B | -25% | -12% | 48% | 13.4× | n/a |
| ICG ICG.L | $7.32B | +2% | +6% | 60% | 11.9× | 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 | TKO.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.3% | -0.7% | 7th highest of 21 |
| 6-month return | -10.5% | +2.2% | 7th lowest of 21 |
| Distance from 52-week high | -16.6% | -18.8% | 10th highest of 21 |
| Revenue growth (TTM) | +32.0% | +19.3% | 7th highest of 20 |
| Operating margin | 31.1% | 29.3% | 10th highest of 20 |
| Forward P/E | 10.7× | 19.5× | 3rd cheapest of 19 |
| Bond spread | 113 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tikehau Capital SCA TKO.PA | France | $3.24B | -10% | +32% | 31% | 10.7× | n/a | n/a |
| Acadian Asset Management AAMI | United States | $3.23B | +33% | +25% | 27% | 15.4× | n/a | n/a |
| Quilter QLT.L | United Kingdom | $3.30B | +5% | +191% | 3% | 15.0× | n/a | n/a |
| Artisan Partners Asset Management APAM | United States | $3.17B | +3% | +6% | 36% | 10.6× | n/a | n/a |
| Sealand Securities 000750.SZ | China | $3.30B | -12% | +2% | 22% | n/a | n/a | n/a |
| Netwealth NWL.AX | Australia | $3.31B | -13% | +21% | 46% | 34.1× | n/a | n/a |
| Mandatum MANTA.HE | Finland | $3.33B | -10% | +60% | 8% | 23.7× | n/a | n/a |
| AllianceBernstein Holding L.P AB | United States | $3.14B | -13% | n/a | n/a | 9.6× | n/a | n/a |
| AJ Bell AJB.L | United Kingdom | $3.04B | +13% | +19% | 42% | 19.2× | n/a | n/a |
| Sprott SII.TO | Canada | $2.96B | -17% | +88% | 38% | 25.6× | n/a | n/a |
| WisdomTree WT | United States | $2.94B | +2% | +45% | 40% | 15.4× | n/a | n/a |
| Guotai Junan International 1788.HK | Hong Kong | $3.58B | +10% | +43% | 65% | n/a | n/a | n/a |
| First Capital Securities 002797.SZ | China | $3.61B | -24% | -6% | 22% | 21.1× | n/a | n/a |
| Nuvama Wealth Management NUVAMA.NS | India | $3.61B | +25% | +13% | 29% | 26.2× | n/a | n/a |
| AMP AMP.AX | Australia | $3.69B | +46% | -5% | -1% | 15.7× | n/a | n/a |
| Eurazeo RF.PA | France | $3.70B | +2% | +18% | -2% | 28.7× | n/a | n/a |
| Cohen & Steers CNS | United States | $3.76B | +1% | +13% | 33% | 20.1× | n/a | n/a |
| Caida Securities 600906.SS | China | $2.78B | -11% | +10% | 36% | 19.7× | n/a | n/a |
| GCM Grosvenor GCMG | United States | $2.57B | +11% | +8% | 28% | 12.6× | n/a | n/a |
| Pinnacle Investment Management PNI.AX | Australia | $2.54B | +2% | +22% | 10% | 19.2× | n/a | n/a |
| Anand Rathi Wealth ANANDRATHI.NS | India | $4.18B | +31% | +35% | 41% | 90.5× | n/a | n/a |
Tikehau Capital SCA has 3 bonds outstanding with $1.45B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 4.38%, a spread of 113 bp over government bonds.