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Alstom SA
(ALO)
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Rating:57Neutral
Price Target:
€17.00
▲(5.07% Upside)
Action:Reiterated
Date:08/17/26
The score is primarily driven by improving financial performance (revenue growth and a return to profitability) but is held back by thin margins and historically volatile, weakening free cash flow in the latest year. Technical signals are neutral-to-soft with the stock below longer-term moving averages, and valuation is only average with a ~22.9 P/E and no dividend support provided.
Positive Factors
Diversified business model & recurring services
Alstom's mix of rolling stock, signaling, turnkey projects and lifecycle services creates recurring revenue and long client relationships. Services and maintenance contracts provide steadier cash flows and margin visibility over multi-year cycles, enhancing resilience versus pure-build peers.
Negative Factors
Thin margins and earnings volatility
Margins remain modest for a large systems integrator, leaving limited buffer against cost inflation, project overruns or competitive pricing. Historical swings into losses highlight operational and execution risk that can quickly erode returns and impair sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model & recurring services
Alstom's mix of rolling stock, signaling, turnkey projects and lifecycle services creates recurring revenue and long client relationships. Services and maintenance contracts provide steadier cash flows and margin visibility over multi-year cycles, enhancing resilience versus pure-build peers.
Read all positive factors
Alstom SA (ALO) vs. iShares MSCI France ETF (EWQ)
Market Cap
€7.54B
Dividend Yield0.99%
Average Volume (3M)1.07M
Price to Earnings (P/E)23.0
Beta (1Y)0.90
Revenue Growth3.69%
EPS Growth98.88%
CountryFR
Employees87,832
SectorGeneral
Sector StrengthN/A
IndustryRailroads
Share Statistics
EPS (TTM)0.71
Shares Outstanding462,616,030
10 Day Avg. Volume1,224,500
30 Day Avg. Volume1,070,756
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)1.13
Price to Sales (P/S)0.58
P/FCF Ratio34.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€23.20Price Target Upside43.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.62
Revenue Forecast (FY)€20.24B
Alstom SA Business Overview & Revenue Model
Company Description
Alstom S.A., established in 1992 and headquartered in Saint-Ouen, France, is a global provider of comprehensive solutions for the rail transport sector, operating across Europe, the Americas, Asia-Pacific, the Middle East, and Africa. The company'...
How the Company Makes Money
Alstom primarily makes money by selling rail products and systems to public and private rail operators and by providing long-term services that generate recurring revenue over the life of the assets it supplies.
Key revenue streams include:
- Rol...
Alstom SA Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
66
Positive
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.17B | 18.49B | 17.62B | 16.51B | 15.47B |
| Gross Profit | 2.17B | 2.30B | 2.21B | 1.97B | 1.73B |
| EBITDA | 1.51B | 1.26B | 762.00M | 766.00M | 732.00M |
| Net Income | 324.00M | 149.00M | -309.00M | -128.00M | -576.00M |
Balance Sheet | |||||
| Total Assets | 35.01B | 34.59B | 33.25B | 31.40B | 30.52B |
| Cash, Cash Equivalents and Short-Term Investments | 2.33B | 2.27B | 976.00M | 826.00M | 810.00M |
| Total Debt | 4.30B | 3.52B | 4.66B | 3.70B | 3.69B |
| Total Liabilities | 24.97B | 24.01B | 24.48B | 22.29B | 21.49B |
| Stockholders Equity | 9.91B | 10.46B | 8.67B | 9.00B | 8.91B |
Cash Flow | |||||
| Free Cash Flow | 324.00M | 490.00M | -567.00M | 175.00M | -1.00B |
| Operating Cash Flow | 891.00M | 972.00M | -82.00M | 606.00M | -577.00M |
| Investing Cash Flow | -552.00M | 123.00M | -431.00M | -478.00M | -443.00M |
| Financing Cash Flow | -273.00M | 244.00M | 696.00M | -61.00M | 558.00M |
Alstom SA Technical Analysis
Positive
16.18
Price Trends
16.05
Positive
16.38
Negative
20.85
Negative
Market Momentum
0.02
Negative
51.50
Neutral
51.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALO, the sentiment is Positive. The current price of 16.18 is above the 20-day moving average (MA) of 16.17, above the 50-day MA of 16.05, and below the 200-day MA of 20.85, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 51.50 is Neutral, neither overbought nor oversold. The STOCH value of 51.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:ALO.
Alstom SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €17.82B | 12.95 | 11.82% | 3.22% | 6.23% | -11.48% | |
64 Neutral | €17.36B | 13.79 | 9.79% | 4.66% | -1.41% | 17.79% | |
58 Neutral | €15.24M | -25.00 | -1.21% | 9.37% | -3.49% | -362.66% | |
57 Neutral | €7.54B | 22.99 | 3.31% | 0.99% | 3.69% | 98.88% | |
57 Neutral | €10.62B | 32.32 | 1.40% | 1.51% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €82.80M | -14.17 | -3.81% | 2.92% | 0.05% | -136.71% |
* General Sector Average
FR:ALO
Alstom SA
16.32
-3.40
-17.24%
FR:ALATI
Actia group
4.11
1.07
35.11%
FR:BOL
Bollore
3.79
0.28
7.94%
FR:EN
Bouygues
45.10
9.75
27.58%
FR:CAP
Capgemini SE
105.55
-15.65
-12.91%
FR:ALGIR
Signaux Girod SA
16.00
2.62
19.60%
Alstom SA Corporate Events
Alstom Wins €270m Order to Double Victoria’s X’trapolis 2.0 Fleet
Aug 4, 2026
The Victorian Government has exercised an option worth €270 million for 25 additional X’trapolis 2.0 electric commuter trains from Alstom, doubling the fleet under manufacture in Victoria to 50 units. Built on Alstom’s Adessia pl...
Alstom to Contest AMF Objections in Ongoing Market Conduct Probe
Jul 30, 2026
The French Financial Markets Authority has been investigating Alstom’s financial communications and share trading since the 2021/22 period, and the proceedings remain ongoing. As part of this process, the company has received a formal statem...
Alstom reaches financial close on €2 billion Haifa-Nazareth light rail
Jul 28, 2026
Alstom and its consortium partners have reached financial close on the €2 billion Haifa-Nazareth NofiT light rail line in northern Israel, allowing the project to move into full-scale execution. The 41-kilometre line, awarded by Trans Israel...
Alstom Posts Higher Q1 Sales, Hits Key Rail Milestones While Reaffirming Outlook
Jul 22, 2026
Alstom reported first-quarter 2026/27 sales of €4.73 billion, up 4.9% year-on-year on a reported basis, driven by rolling stock, services and signalling despite a decline in systems. Orders fell to €2.56 billion from €4.08 billio...
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.