TeamViewer AG (1TMV) AI Stock Analysis

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TeamViewer AG

(Milan:1TMV)

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Positive Factors

High margins and cash conversionVery high software margins and strong conversion of earnings into free cash flow indicate a scalable business model with meaningful internal funding capacity. This supports continued investment in product development, sales execution and debt reduction while strengthening resilience over the next several quarters.

Negative Factors

Revenue and ARR deteriorationFlat ARR and reduced revenue guidance signal that current commercial momentum is insufficient to offset delayed enterprise deals and weaker conversion. Persistent top-line pressure would limit operating leverage, reduce growth capacity and make the sustainability of recent earnings performance less certain.

TeamViewer AG (1TMV) vs. iShares MSCI Italy ETF (EWI)

Market Cap: EUR 786.40M
Dividend Yield: ―
Average Volume (3M): 889
Price to Earnings (P/E): 5.7
Beta (1Y): 0.56
Revenue Growth: 1.71%
EPS Growth: 18.60%
Country: Italy
Employees: 1,925
Sector: Technology
Sector Strength: 61
Industry: Software - Application

TeamViewer AG Business Overview & Revenue Model

Company Description

Operating globally, TeamViewer AG and its associated companies specialize in the development and provision of a diverse range of remote connectivity tools. Among its core offerings is TeamViewer, a versatile solution enabling remote access, control,...

TeamViewer AG Earnings Call Summary

Earnings Call Date:Nov 03, 2026(Q3-2026)|% Change Since:-30.48%|Next Earnings Date:Feb 09, 2027

Earnings Call SentimentNeutral

The call presented meaningful strategic and operational progress, including strong TeamViewer ONE and AI adoption, enterprise customer wins, SMB stabilization, healthy margins, improved cash generation and a stronger financing profile. However, these positives were offset by broadly flat ARR, declining revenue, weaker enterprise retention and conversion, EMEA and U.S. public-sector delays, and a reduction in full-year revenue guidance. The positive leading indicators and profitability were balanced by current top-line and execution challenges.

Positive Updates

Strong TeamViewer ONE Enterprise Momentum

New and upsell business from TeamViewer ONE grew more than sixfold year-over-year in Q3. TeamViewer ONE expanded from close to no contribution at the beginning of the year to approximately 10% of enterprise ARR, with its contribution increasing 13x between Q1 and Q3. By quarter-end, it had 208 enterprise customers, representing approximately 4% of the enterprise customer base and around 10% of enterprise ARR.

Negative Updates

Full-Year Revenue Guidance Cut

Full-year 2026 revenue growth guidance was reduced to between minus 2% and minus 1% year-over-year in constant currency from the previous range of 0% to 3%. Management attributed the revision to delayed conversion of large enterprise deals and renewed economic uncertainty in Europe, which are expected to weigh on Q4 revenue growth.

Company Guidance

For full year 2026, TeamViewer now expects revenue growth in a range of minus 2% to minus 1% year-over-year in constant currencies, compared with previous guidance of 0% to 3% year-over-year in constant currencies, and reiterates adjusted EBITDA margin guidance of around 43%; net leverage is expected to reach the around 2.3x year-end target from 2.5x. For the Q4 outlook, enterprise ARR is expected to be “something between 2% and 3% maybe,” while total ARR is expected to be “in a range of 0% to minus 2%, maybe something around that”; SMB improvement is expected especially for November and even more so for December, with churn from Q1 onwards potentially in the range of 15%, maybe lower, better, I mean. There is no concrete 2027 guidance, but management expects ARR growth to accelerate in 2027, supported by scaling the enterprise sales organization in EMEA, improving U.S. enterprise momentum, the general new business pipeline, the SMB recovery, the public space in Americas, the ServiceNow partnership and the DEX one-off churn washing out.

TeamViewer AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

IT:1TMV against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:AOF	82Outperform	EUR 1.39B	27.45	55.52%	2.58%	12.01%	11.51%
DE:FAA	82Outperform	EUR 178.75M	14.22	30.98%	3.03%	7.53%	36.30%
DE:SAP	80Outperform	EUR 245.13B	29.75	17.84%	1.19%	7.92%	16.68%
DE:SJJ	63Neutral	EUR 149.63M	49.13	6.43%	―	12.98%	375.18%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
DE:PSAN	39Underperform	EUR 735.97M	-25.22	-43.45%	―	2.01%	-20.18%

* Technology Sector Average

Performance Comparison

IT:1TMV and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IT:1TMV	TeamViewer AG	4.97	-0.99	-16.61%
DE:AOF	ATOSS Software	88.40	-18.24	-17.10%
DE:PSAN	PSI AG fuer Produkte und Systeme der Informationstechnologie	44.90	-0.10	-0.22%
DE:SAP	SAP SE	210.95	-3.51	-1.64%
DE:SJJ	Serviceware SE	14.15	-2.80	-16.52%
DE:FAA	Fabasoft AG	16.50	1.61	10.83%

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.

TeamViewer AG AI Stock Analysis