Amadeus IT Group, S.A. (AMADY)
OTHER OTC:AMADY
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Amadeus IT Group, S.A.
(OTC:AMADY)
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Rating:76Outperform
Price Target:
$70.00
▼(-6.67% Downside)
Action:Reiterated
Date:06/07/26
The score is driven primarily by strong profitability and cash-flow generation, supported by a reasonable P/E and a moderate dividend yield. The main offsets are slowing fundamentals (2025 revenue decline and weaker gross margin) and a mixed technical setup with the stock still below its 200-day moving average.
Positive Factors
Stable high margins
Amadeus has maintained net margins near 20% across 2023–2025, which denotes resilient profitability after the recovery. Durable margins support reinvestment, dividend capacity and strong ROE (~25%+), providing a stable earnings base even if top-line growth softens.
Negative Factors
Top-line slowdown & margin pressure
Revenue declined 2.7% in 2025 and gross margin narrowed, signaling cooling revenue momentum. For a company reliant on transaction volumes and hosting fees, slower top-line growth and margin compression can weigh on long-term reinvestment capacity and make future margin recovery dependent on pricing or mix improvements.
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Positive Factors
Negative Factors
Stable high margins
Amadeus has maintained net margins near 20% across 2023–2025, which denotes resilient profitability after the recovery. Durable margins support reinvestment, dividend capacity and strong ROE (~25%+), providing a stable earnings base even if top-line growth softens.
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Amadeus IT Group, S.A. (AMADY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.96B
Dividend Yield1.55%
Average Volume (3M)3.63K
Price to Earnings (P/E)17.2
Beta (1Y)0.72
Revenue Growth12.97%
EPS Growth11.19%
CountryUS
Employees20,643
SectorTechnology
Sector Strength88
IndustryTravel Services
Share Statistics
EPS (TTM)3.06
Shares Outstanding450,499,000
10 Day Avg. Volume2,958
30 Day Avg. Volume3,629
Financial Highlights & Ratios
PEG Ratio12.29
Price to Book (P/B)5.66
Price to Sales (P/S)4.39
P/FCF Ratio13.67
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue4.00
Enterprise Value/Gross Profit10.97
Enterprise Value/Ebitda10.32
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4
Revenue Forecast (FY)$8.03B
Amadeus IT Group, S.A. Business Overview & Revenue Model
Company Description
Amadeus IT Group, S.A. operates as a leading global technology partner and transaction facilitator for the travel and tourism sector. The company's extensive activities are organized into two core divisions: Distribution and IT Solutions. It provi...
How the Company Makes Money
Amadeus primarily makes money by selling travel technology and distribution services through long-term, high-volume B2B contracts. A major revenue stream comes from its distribution business, where it provides access to travel content (e.g., air i...
Amadeus IT Group, S.A. Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: double-digit acceleration in Q4, solid full-year growth across revenue, adjusted EBIT and EPS at constant currency, robust free cash flow and substantial shareholder returns. Management highlighted significant commercial wins (Nevio adoption by Lufthansa Group, Navitaire Stratos deals), successful cloud migration completion, strategic AI positioning and continued high R&D investment to capture medium-term opportunities. Near-term headwinds were acknowledged—primarily a cloud migration-related margin timing impact, elevated cost and investment levels, a slight YoY FCF dip due to nonrecurring items, and some booking softness in Q4 from U.S. cancellations. Overall, the positives (strong growth, cash generation, strategic wins and clear midterm targets) outweigh the manageable and largely one-off or investment-related lowlights.Positive Updates
Strong Top-Line and Profit Growth
Full year 2025 group revenue of EUR 6,517m, +9% at constant currency (+6% reported); adjusted EBIT EUR 1,894m, +10% at constant currency (+9% reported). Q4 revenue +10% and adjusted EBIT +15% at constant currency, showing acceleration into year-end.
Negative Updates
Short-Term Margin Headwind from Cloud Migration
Management expects a 2026 timing drag on adjusted EBIT margin due to the cloud migration ramp-up in 2025; adjusted EBIT margin was 28.8% in 2025 (+0.5pp year-on-year) but 2026 margin is expected to be stable only because of this one-off cloud-related cost phasing.
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Q4-2025 Updates
Positive
Negative
Strong Top-Line and Profit Growth
Full year 2025 group revenue of EUR 6,517m, +9% at constant currency (+6% reported); adjusted EBIT EUR 1,894m, +10% at constant currency (+9% reported). Q4 revenue +10% and adjusted EBIT +15% at constant currency, showing acceleration into year-end.
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Company Guidance
Management guided 2026 group revenue to grow at high single‑digit at constant currency, with adjusted EBIT margin expected to be broadly stable in 2026 (noting a one‑off drag from the cloud migration that would imply margin expansion excluding that effect) and a commitment to low double‑digit adjusted diluted EPS growth for 2026. They forecast free cash flow of €1.35–1.45bn in 2026, capital expenditure of 10–12% of revenue, and Q1 seasonality with a negative FCF timing effect; shareholder returns include a dividend at the top end of policy (~€700m) and a €500m share buyback to be executed within six months. Over the midterm ('26–'28) management targets high single‑digit CAGR group revenue (cc), adjusted EBIT margin expansion, low‑double‑digit adjusted diluted EPS CAGR, high single‑digit CAGR free cash flow and continued investment (capex at a low‑double‑digit % of revenue); segment guidance calls for Air IT to grow high single‑digit, Hospitality to accelerate to double‑digit growth, and Air Distribution to see steady bookings with moderating revenue‑per‑booking growth.Amadeus IT Group, S.A. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.58B | 6.26B | 6.14B | 5.44B | 4.49B | 2.67B |
| Gross Profit | 2.40B | 2.05B | 2.65B | 2.41B | 1.87B | 834.90M |
| EBITDA | 2.55B | 2.39B | 2.35B | 2.13B | 1.55B | 575.90M |
| Net Income | 1.34B | 1.28B | 1.25B | 1.12B | 664.40M | -142.40M |
Balance Sheet | ||||||
| Total Assets | 11.44B | 11.47B | 11.78B | 10.80B | 11.71B | 11.18B |
| Cash, Cash Equivalents and Short-Term Investments | 677.91M | 975.18M | 1.13B | 1.06B | 1.99B | 1.82B |
| Total Debt | 3.36B | 0.00 | 3.38B | 3.31B | 4.41B | 4.98B |
| Total Liabilities | 6.63B | 6.62B | 6.72B | 6.31B | 7.13B | 7.44B |
| Stockholders Equity | 4.81B | 4.85B | 5.06B | 4.48B | 4.58B | 3.75B |
Cash Flow | ||||||
| Free Cash Flow | 1.52B | 2.01B | 1.36B | 1.19B | 874.10M | 176.10M |
| Operating Cash Flow | 1.76B | 2.07B | 2.15B | 1.79B | 1.44B | 636.30M |
| Investing Cash Flow | -678.13M | -773.81M | -1.15B | 4.50M | -493.30M | -205.50M |
| Financing Cash Flow | -1.64B | -1.35B | -990.10M | -2.19B | -640.10M | -865.80M |
Amadeus IT Group, S.A. Technical Analysis
Neutral
75.00
Price Trends
59.58
Positive
60.91
Positive
68.72
Negative
Market Momentum
0.91
Negative
53.53
Neutral
40.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMADY, the sentiment is Neutral. The current price of 75 is above the 20-day moving average (MA) of 61.35, above the 50-day MA of 59.58, and above the 200-day MA of 68.72, indicating a neutral trend. The MACD of 0.91 indicates Negative momentum. The RSI at 53.53 is Neutral, neither overbought nor oversold. The STOCH value of 40.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMADY.
Amadeus IT Group, S.A. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $26.96B | 17.22 | 26.71% | 1.55% | 12.97% | 11.19% | |
67 Neutral | $27.47B | 18.74 | 147.58% | 0.56% | 10.01% | 33.63% | |
66 Neutral | $31.09B | 6.70 | 21.02% | 0.39% | 17.27% | 94.65% | |
66 Neutral | $128.51B | 21.29 | -95.80% | 0.71% | 14.95% | 17.45% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | $4.18B | 82.66 | -38.21% | ― | 6.71% | -41.74% | |
49 Neutral | $656.22M | 1.32 | -40.79% | ― | -6.42% | ― |
* Technology Sector Average
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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.