Amadeus IT Group, S.A. (AMADY) AI Stock Analysis

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Amadeus IT Group, S.A.

(Other OTC:AMADY)

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Rating:79Outperform

Price Target:$77.00▲(11.38% Upside)

Action:reiterated

Date:11/06/26

The score is driven primarily by strong financial performance (high and stable profitability since 2022, improving free cash flow, and reduced leverage versus 2021). Technicals are also supportive with price above key moving averages and a positive MACD, though near-term momentum looks stretched. Valuation is reasonable (P/E ~19.75) with a supportive dividend (~2.64%). The earnings call was constructive with guidance maintained, but tempered by lower-end guidance expectations, geopolitical volume disruption, and a disclosed (but fixed) security vulnerability.

Positive Factors

Diversified Segment GrowthGrowth across airline IT, hospitality and distribution reduces reliance on a single travel segment and supports resilience when volumes differ by market. This breadth also expands cross-selling opportunities and strengthens Amadeus’s role across the travel technology ecosystem.

Negative Factors

Distribution Volume ContractionThe decline in bookings highlights exposure to transaction volumes within the distribution business, even when pricing and revenue per booking provide a temporary offset. Persistent volume weakness could constrain growth and make future performance more dependent on commercial repricing.

Amadeus IT Group, S.A. (AMADY) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $29.08B
Dividend Yield: 2.56%
Average Volume (3M): 61.65K
Price to Earnings (P/E): 20.6
Beta (1Y): 0.70
Revenue Growth: 9.30%
EPS Growth: 6.68%
Country: US
Employees: 20,605
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

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 provides...

How the Company Makes Money

Amadeus primarily makes money through two broad revenue engines: (1) distribution and (2) travel IT solutions and services. 1) Distribution (GDS and related connectivity) - Transaction-based fees: Amadeus operates a global distribution platform that...

Amadeus IT Group, S.A. Earnings Call Summary

Earnings Call Date:Nov 06, 2026(Q3-2026)|% Change Since:3.25%|Next Earnings Date:Feb 25, 2027

Earnings Call SentimentPositive

The call was broadly positive, with solid revenue, EBIT, EPS and free cash flow growth, resilient performance across the diversified business, strong customer wins, continued AI and Nevio progress, and reaffirmed 2026 and midterm guidance. The main negative factors were Middle East-related volume disruption, lower-end guidance expectations, softer expected fourth-quarter free cash flow growth, uncertainty around 2027 conditions, and a disclosed but remediated booking-data vulnerability.

Positive Updates

Solid Year-to-Date Financial Performance

For the first nine months, revenue reached EUR 5,076 million, increasing 5% at constant currency and 4% on a reported basis. Adjusted EBIT rose to EUR 1,547 million, up 6% at constant currency and 5% reported. Adjusted diluted EPS increased 9% at constant currency, diluted EPS was EUR 2.54, up 4%, and free cash flow reached EUR 1,036 million, described as 9% growth in the overview and 8.5% ahead of last year in the detailed cash flow discussion.

Negative Updates

Middle East Geopolitical Situation Pressured Volumes

The ongoing situation in the Middle East affected Air Distribution most significantly and also affected Hospitality & Other Solutions. Management said the situation caused reduced air traffic, deceleration in new bookings, increased booking cancellations globally and moderation of Amadeus passenger boardings.

Company Guidance

Amadeus maintains its outlook for 2026 and expects to deliver at the lower end of the guided ranges for all metrics; free cash flow guidance remains EUR 1.35 billion to EUR 1.45 billion for the full year, with CapEx guided at 10% to 12% of revenue. The company expects solid growth in its Hospitality segment into Q4, with Hotel IT guided in the low double-digit range for this year; Marriott implementations hit full run rate in 2027 and Accor in 2028. Amadeus is holding its midterm guidance, including high single-digit organic growth, EBIT margin expansion and EPS at low double-digit growth rate in the midterm, and will provide updated guidance for 2027 at the end of February.

Amadeus IT Group, S.A. Financial Statement Overview

Summary

Strong overall fundamentals supported by high profitability (TTM ~41% gross margin and ~20% net margin) and solid, improving free cash flow (TTM FCF up strongly). Offsetting this, revenue growth has been volatile (notably a 2025 slowdown before re-acceleration) and leverage remains meaningful despite improvement (debt/equity ~0.7x; ~€3.6B debt).

Income Statement

86Very Positive

Balance Sheet

72Positive

Cash Flow

78Positive

Financial statement breakdown
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	2.72B	2.05B	2.65B	2.41B	1.87B	834.90M
EBITDA	2.53B	2.39B	2.35B	2.13B	1.62B	575.90M
Net Income	1.31B	1.28B	1.25B	1.12B	664.40M	-142.40M
Balance Sheet
Total Assets	11.76B	11.47B	11.78B	10.80B	11.71B	11.18B
Cash, Cash Equivalents and Short-Term Investments	976.00M	986.80M	1.13B	1.06B	1.99B	1.82B
Total Debt	3.60B	3.22B	3.38B	3.31B	4.41B	4.98B
Total Liabilities	7.17B	6.62B	6.72B	6.31B	7.13B	7.44B
Stockholders Equity	4.57B	4.85B	5.06B	4.48B	4.58B	3.75B
Cash Flow
Free Cash Flow	1.76B	2.01B	1.36B	1.19B	874.10M	176.10M
Operating Cash Flow	2.16B	2.07B	2.15B	1.79B	1.44B	636.30M
Investing Cash Flow	-807.03M	-773.81M	-1.15B	4.50M	-493.30M	-205.50M
Financing Cash Flow	-1.61B	-1.35B	-990.10M	-2.19B	-640.10M	-865.80M

Amadeus IT Group, S.A. Technical Analysis

Technical Analysis SentimentPositive

Last Price69.13

Price Trends

50DMA62.80Positive

100DMA62.21Positive

200DMA60.62Positive

Market Momentum

MACD1.85Negative

RSI71.85Negative

STOCH99.95Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMADY, the sentiment is Positive. The current price of 69.13 is above the 20-day moving average (MA) of 64.63, above the 50-day MA of 62.80, and above the 200-day MA of 60.62, indicating a bullish trend. The MACD of 1.85 indicates Negative momentum. The RSI at 71.85 is Negative, neither overbought nor oversold. The STOCH value of 99.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMADY.

Amadeus IT Group, S.A. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

AMADY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ACN	84Outperform	$152.79B	18.57	26.77%	2.60%	6.47%	11.19%
INFY	80Outperform	$49.96B	15.31	33.75%	4.39%	-1.35%	3.37%
IBM	79Outperform	$231.11B	20.86	32.95%	2.72%	6.83%	39.80%
AMADY	79Outperform	$27.59B	20.63	27.13%	2.56%	9.30%	6.68%
CTSH	77Outperform	$29.06B	11.73	17.36%	2.02%	4.96%	27.16%
VYX	63Neutral	$1.36B	14.41	10.39%	―	-9.85%	―
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

* Technology Sector Average

Performance Comparison

AMADY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
AMADY	Amadeus (OTC)	69.13	-8.28	-10.69%
ACN	Accenture Plc	253.66	14.42	6.03%
CTSH	Cognizant Technology Solutions	64.43	-7.51	-10.43%
INFY	Infosys	12.30	-4.04	-24.70%
IBM	International Business Machines Corporation	248.22	-48.50	-16.35%
VYX	Ncr Voyix Corporation	10.45	-0.34	-3.15%

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: Nov 06, 2026

Amadeus IT Group, S.A. AI Stock Analysis