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Atos SE
(OTC:AEXAY)
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Rating:45Neutral
Price Target:
$6.50
▼(-5.11% Downside)
Action:Reiterated
Date:08/06/26
The score is primarily held back by weak financial performance (shrinking revenue, large losses, negative equity, and still-negative free cash flow) and a bearish longer-term technical setup (below key moving averages with negative MACD). Offsetting this somewhat, the latest earnings call provided cautiously positive FY2026 guidance and highlighted margin and cost-savings progress, but high leverage and refinancing/execution risk remain significant.
Positive Factors
Cost Savings and Margin Recovery
Substantial savings execution and a more than doubling of EBIT indicate improving cost discipline. If maintained, the leaner operating model can support the targeted 7% margin and improve resilience even before revenue fully recovers.
Negative Factors
Persistent Revenue Contraction
Several years of shrinking revenue weaken scale economics and make margin recovery dependent on cost reductions. The planned H2 rebound also requires successful deal conversion, leaving the business exposed if demand or execution remains weak.
Read all positive and negative factors
Positive Factors
Negative Factors
Cost Savings and Margin Recovery
Substantial savings execution and a more than doubling of EBIT indicate improving cost discipline. If maintained, the leaner operating model can support the targeted 7% margin and improve resilience even before revenue fully recovers.
Read all positive factors
Atos SE (AEXAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$658.48M
Dividend YieldN/A
Average Volume (3M)45.00
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth-8.14%
EPS Growth-179.07%
CountryUS
Employees63,193
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-12.16
Shares Outstanding98,750,890
10 Day Avg. Volume0
30 Day Avg. Volume45
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-1.09
Price to Sales (P/S)0.11
P/FCF Ratio-9.80
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)$7.77B
Atos SE Business Overview & Revenue Model
Company Description
Atos SE is a global provider of sophisticated digital transformation solutions and an array of related services. Its extensive offerings encompass cloud computing, robust cybersecurity measures, and advanced computing solutions, complemented by sp...
How the Company Makes Money
Atos makes money primarily by selling IT and digital services to business and public-sector customers under a mix of long-term managed-service contracts and project-based engagements. Key revenue streams typically include: (1) Managed services/out...
Atos SE Earnings Call Summary
Earnings Call Date:Mar 06, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Neutral
The call balanced clear operational progress and cost discipline (margin improvement, strong Genesis savings execution, improved book-to-bill and liquidity) with significant residual challenges (material top-line decline, a substantial FY loss driven by restructuring/impairments and provisions, elevated net debt and refinancing sensitivity). Management provided a cautious but constructive 2026 outlook (targeting positive organic growth with a downside to -5%, operating margin ~7% and positive cash flow), and emphasized strategic repositioning into agentic AI, sovereignty and cyber. The tone was cautiously optimistic: strong evidence of a reset and structural recovery but with execution and market risks to monitor in 2026 before a full rebound/acceleration can be confirmed.Positive Updates
Revenue and FY 2025 Results
Reported revenues of EUR 8,001 million in FY2025, above the prior guidance; FY25 organic revenue decline of ~14% versus prior year, with Q4 organic decline narrowing to ~9% (inflection in trajectory).
Negative Updates
Significant revenue contraction in FY2025
Organic revenue decrease of ~14% in FY2025 versus prior year; management expects Q1 2026 still weak (around -9% to -10%) and includes a cautionary downside scenario for 2026 organic growth of up to -5%.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue and FY 2025 Results
Reported revenues of EUR 8,001 million in FY2025, above the prior guidance; FY25 organic revenue decline of ~14% versus prior year, with Q4 organic decline narrowing to ~9% (inflection in trajectory).
Read all positive updates
Company Guidance
Management guided for fiscal 2026 to deliver positive organic revenue growth (the internal budget is for growth, with a cautious downside scenario limited to -5%), with Q1 expected around -9%/‑10% and a stabilization in H2 leading to a rebound in Q3/Q4; an operating margin target of ~7% (c. €500m, ~+60% vs FY25’s €351m/4.4%); a positive net change in cash for the year; CapEx of roughly €100m+; headcount and perimeter after recent disposals ~57–58k people and ~54 countries to be reduced below ~40; Genesis savings execution to continue (88% of a €650m target achieved in FY25, ~€200m more to come in 2026); net debt was €1.8bn at 31/12/25 (cash €1.265bn; borrowings nominal €3.64bn; leverage 3.17x) with a goal to reduce leverage below 1.5x by end‑2028 and reach ~10% EBIT margin and 5–7% top‑line growth by 2028; guidance excludes debt repayments, FX and M&A.Atos SE Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
12
Very Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.43B | 7.69B | 9.58B | 10.69B | 11.27B | 10.84B |
| Gross Profit | 2.34B | 1.68B | 3.22B | 3.49B | 3.40B | 3.51B |
| EBITDA | 922.95M | 876.01M | 1.41B | -2.32B | 238.00M | -343.00M |
| Net Income | -1.22B | -1.35B | 248.00M | -3.44B | -1.02B | -2.96B |
Balance Sheet | ||||||
| Total Assets | 6.29B | 6.32B | 8.25B | 11.29B | 16.39B | 16.82B |
| Cash, Cash Equivalents and Short-Term Investments | 1.64B | 1.24B | 1.74B | 2.31B | 3.35B | 3.39B |
| Total Debt | 3.61B | 2.76B | 2.81B | 5.48B | 5.88B | 5.85B |
| Total Liabilities | 7.57B | 7.11B | 7.45B | 11.23B | 12.59B | 12.38B |
| Stockholders Equity | -1.28B | -786.67M | 799.00M | 55.00M | 3.79B | 4.44B |
Cash Flow | ||||||
| Free Cash Flow | -143.20M | -87.41M | -1.85B | -618.00M | 176.00M | 107.00M |
| Operating Cash Flow | 6.41M | 75.88M | -1.40B | -413.00M | 427.00M | 379.00M |
| Investing Cash Flow | 101.56M | -170.01M | -203.00M | 213.00M | -251.00M | -656.00M |
| Financing Cash Flow | 246.09M | -270.87M | 1.02B | -622.00M | -304.00M | 300.00M |
Atos SE Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $1.64B | -1.31 | -41.80% | 6.47% | 3.89% | -681.89% | |
54 Neutral | $708.40M | -154.47 | -0.58% | ― | 10.44% | -276.69% | |
54 Neutral | $2.84B | 8.54 | 29.15% | ― | -0.62% | -70.92% | |
53 Neutral | $1.74B | 13.88 | 4.06% | ― | -2.42% | -65.01% | |
45 Neutral | $658.48M | -0.47 | 319.82% | ― | -8.14% | -179.07% |
* Technology Sector Average
AEXAY
Atos SE
6.61
-3.79
-36.48%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.