Atos SE (AEXAY) AI Stock Analysis

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Atos SE

(Other OTC:AEXAY)

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Rating:38Underperform

Price Target:$5.00▼(-8.04% Downside)

Action:reiterated

Date:09/30/26

Poor financial performance driven by negative equity, persistent losses, and weak cash flows is the primary factor, compounded by bearish technical signals and unfavorable valuation metrics.

Positive Factors

Diversified IT capabilitiesAtos operates across multiple technology services and solution categories, including cloud, cybersecurity, infrastructure, and mission-critical systems. This breadth gives the company several avenues to serve enterprise and public-sector technology needs, supporting relevance across different spending priorities over the next several quarters.

Negative Factors

Multi-year revenue contractionRepeated revenue contraction signals weakening scale and limits the company’s ability to absorb fixed costs across its services platform. Continued top-line pressure can reduce utilization, constrain investment in capabilities, and make a durable return to profitable growth more difficult over the next several quarters.

Atos SE (AEXAY) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $3.36B
Dividend Yield: ―
Average Volume (3M): ―
Price to Earnings (P/E): -0.4
Beta (1Y): 1.38
Revenue Growth: -8.14%
EPS Growth: -179.07%
Country: US
Employees: 63,193
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

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 speci...

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 an...

Atos SE Earnings Call Summary

Earnings Call Date:Mar 06, 2026(Q4-2025)|% Change Since:-41.13%|Next Earnings Date:Feb 26, 2027

Earnings Call SentimentNeutral

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%.

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

Significant challenges including revenue declines, net losses, negative equity, high debt, and weak cash generation indicate poor financial performance.

Income Statement

25Negative

Balance Sheet

15Very Negative

Cash Flow

20Very Negative

Financial statement breakdown
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	841.54M	894.56M	1.41B	-2.32B	610.00M	33.00M
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

Technical Analysis SentimentNegative

Last Price5.44

Price Trends

50DMA5.45Negative

100DMA6.30Negative

200DMA7.69Negative

Market Momentum

MACD0.06Positive

RSI47.07Neutral

STOCH0.20Positive

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 5.44 is below the 20-day moving average (MA) of 5.58, below the 50-day MA of 5.45, and below the 200-day MA of 7.69, indicating a bearish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 47.07 is Neutral, neither overbought nor oversold. The STOCH value of 0.20 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

AEXAY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BR	81Outperform	$21.82B	21.17	37.80%	2.08%	7.09%	15.41%
INFY	80Outperform	$49.96B	15.31	33.75%	4.39%	-1.35%	3.37%
CTSH	77Outperform	$29.06B	11.73	17.36%	2.02%	4.96%	27.16%
KD	62Neutral	$3.76B	49.56	6.91%	―	-0.74%	-80.24%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
DXC	60Neutral	$2.38B	21.51	3.67%	―	-2.81%	-67.00%
AEXAY	38Underperform	$546.44M	-0.40	117.34%	―	-8.14%	-179.07%

* Technology Sector Average

Performance Comparison

AEXAY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
AEXAY	Atos Se Unsponsored Adr	5.44	-5.05	-48.15%
BR	Broadridge Financial Solutions	192.85	-27.72	-12.57%
CTSH	Cognizant Technology Solutions	64.43	-7.51	-10.43%
INFY	Infosys	12.30	-4.04	-24.70%
DXC	Dxc Technology Company	15.27	1.95	14.64%
KD	Kyndryl Holdings Incorporation	17.13	-8.46	-33.06%

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.

Date of analysis: Sep 30, 2026

Atos SE AI Stock Analysis