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Atos SE
(OTC:AEXAY)
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Rating:40Underperform
Price Target:
$4.50
▼(-31.82% Downside)
Action:Downgraded
Date:09/30/26
The score is driven primarily by weak financial performance (shrinking revenues, a large recent loss, negative equity, and still-negative free cash flow). Technical indicators reinforce the risk with a strong downtrend and very weak momentum. Valuation provides limited support because the company is loss-making and no dividend yield is available.
Positive Factors
Recurring Contract Base
A mix of managed services and outsourcing contracts, often multi-year and billed through recurring fees, can provide a durable revenue base. Renewal and retention, plus attached support work, give Atos opportunities to extend client relationships beyond individual transformation projects.
Negative Factors
Multi-Year Revenue Decline
Atos has experienced revenue contraction for multiple years, with the 2025 decline of about 11% following another decline in 2024. Persistent top-line shrinkage can weaken scale economics, reduce resources for reinvestment, and make a durable recovery in profitability harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Contract Base
A mix of managed services and outsourcing contracts, often multi-year and billed through recurring fees, can provide a durable revenue base. Renewal and retention, plus attached support work, give Atos opportunities to extend client relationships beyond individual transformation projects.
Read all positive factors
Atos SE (AEXAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$459.90M
Dividend Yield1.49%
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth-8.14%
EPS Growth-179.07%
CountryUS
Employees63,193
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-12.16
Shares Outstanding99,605,770
10 Day Avg. Volume0
30 Day Avg. Volume0
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)-1.01
Revenue Forecast (FY)$7.76B
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 primarily makes money by delivering contracted IT services and technology solutions to organizations, with revenue generally generated through a mix of recurring and project-based engagements. Key revenue streams include: (1) Managed services...
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 Technical Analysis
Negative
6.60
Price Trends
6.39
Negative
7.34
Negative
8.74
Negative
Market Momentum
-0.46
Positive
23.91
Positive
7.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEXAY, the sentiment is Negative. The current price of 6.6 is above the 20-day moving average (MA) of 5.61, above the 50-day MA of 6.39, and below the 200-day MA of 8.74, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 23.91 is Positive, neither overbought nor oversold. The STOCH value of 7.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AEXAY.
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% | |
56 Neutral | $793.41M | -166.67 | -0.58% | ― | 10.44% | -276.69% | |
54 Neutral | $2.46B | 7.58 | 29.15% | ― | -0.62% | -70.92% | |
53 Neutral | $1.65B | 14.25 | 4.06% | 5.60% | -2.42% | -65.01% | |
51 Neutral | $1.52B | -0.64 | -95.60% | 5.77% | 2.56% | -918.60% | |
40 Underperform | $459.90M | -0.35 | 117.34% | 1.49% | -8.14% | -179.07% |
* Technology Sector Average
AEXAY
Atos SE
4.83
-9.41
-66.11%
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NABL
N-able
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KD
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11.26
-18.76
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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.