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French (CAC) Tech Sector Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies93
  • 7D-5.0%
  • 3M-11.0%
  • 1Y-19.1%
  • YTD-1.9%

Over the last 7 days, the Tech industry has dropped 5.0%, driven by Dassault Systèmes declining 5.9%. Meanwhile, OVH Groupe actually outperformed within the industry, gaining 16% in the last week. The industry has fallen 19% in the last year. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

Has the French Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 Jan 2026€99.3b€63.6b€4.0b21.8x25x1.6x
Fri, 19 Dec 2025€101.3b€63.5b€4.0b21x25.6x1.6x
Sun, 16 Nov 2025€97.6b€63.7b€4.0b20.5x24.2x1.5x
Tue, 14 Oct 2025€106.7b€63.5b€4.1b19.6x25.8x1.7x
Thu, 11 Sep 2025€102.1b€63.3b€4.2b15.5x24.3x1.6x
Sat, 09 Aug 2025€104.3b€63.3b€4.2b16.9x24.8x1.6x
Mon, 07 Jul 2025€119.7b€73.0b€5.1b16.9x23.6x1.6x
Wed, 04 Jun 2025€115.5b€73.5b€5.1b15.6x22.6x1.6x
Fri, 02 May 2025€111.1b€73.4b€5.0b15.8x22x1.5x
Sun, 30 Mar 2025€119.2b€75.9b€5.5b17.3x21.5x1.6x
Tue, 25 Feb 2025€133.5b€68.3b€5.3b16.8x25.3x2x
Thu, 23 Jan 2025€127.8b€69.5b€5.8b16.9x22x1.8x
Sat, 21 Dec 2024€122.0b€69.5b€5.8b16.2x21x1.8x
Mon, 18 Nov 2024€119.9b€69.4b€5.9b15.3x20.5x1.7x
Wed, 16 Oct 2024€128.7b€69.9b€6.4b16.8x20x1.8x
Fri, 13 Sep 2024€134.3b€69.6b€6.5b18.4x20.6x1.9x
Sun, 11 Aug 2024€128.8b€70.0b€6.6b17.9x19.6x1.8x
Tue, 09 Jul 2024€146.8b€71.2b€7.1b19.5x20.7x2.1x
Thu, 06 Jun 2024€152.3b€71.0b€7.1b19.8x21.5x2.1x
Sat, 04 May 2024€149.0b€73.1b€6.9b22.4x21.5x2x
Mon, 01 Apr 2024€159.0b€73.2b€7.3b21.6x21.6x2.2x
Wed, 28 Feb 2024€169.4b€88.1b€6.0b21.3x28x1.9x
Fri, 26 Jan 2024€175.3b€89.0b€6.3b21.7x27.7x2x
Sun, 24 Dec 2023€171.2b€88.9b€6.8b21.5x25.3x1.9x
Tue, 21 Nov 2023€161.5b€88.9b€6.8b19.7x23.8x1.8x
Thu, 19 Oct 2023€144.6b€89.5b€6.9b18.1x20.9x1.6x
Sat, 16 Sep 2023€150.1b€88.6b€6.9b20.2x21.7x1.7x
Mon, 14 Aug 2023€154.1b€88.0b€6.8b21.5x22.7x1.8x
Wed, 12 Jul 2023€159.5b€86.2b€6.6b21x24x1.8x
Fri, 09 Jun 2023€160.4b€86.5b€6.7b20.7x23.9x1.9x
Sun, 07 May 2023€149.2b€85.8b€6.5b19.9x22.9x1.7x
Tue, 04 Apr 2023€159.3b€85.0b€6.3b18.8x25.2x1.9x
Thu, 02 Mar 2023€169.9b€89.4b€4.4b22.1x38.3x1.9x
Sat, 28 Jan 2023€163.4b€85.4b€3.9b23.2x42x1.9x
Price to Earnings Ratio

42x


Total Market Cap: €163.4bTotal Earnings: €3.9bTotal Revenue: €85.4bTotal Market Cap vs Earnings and Revenue0%0%0%
French Tech Sector Price to Earnings3Y Average 23.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the French Information Technology industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 23.9x.
  • The 3-year average PS ratio of 1.8x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 9.4% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

Which industries have driven the changes within the French Tech sector?

FR Market-3.30%
Tech-4.99%
Tech Hardware0.09%
Communications-1.38%
IT-3.98%
Semiconductors-4.30%
Software-5.76%
Electronic Equipment and Components-14.85%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 16.3x.
    • Analysts are expecting annual earnings growth of 38.3%, which is higher than its past year's earnings decline of 68.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 69% over the next 5 years.
  • This is better than its past earnings decline of 50% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 9.2% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
OVH OVH Groupe€8.9610.7%
+€130.1m		5.4%PE3369x
ALKAL Kalray€2.90117.1%
+€20.2m		253.7%PS1x
AL2SI 2CRSI€11.588.4%
+€20.1m		186.6%PE121.5x
SWP Sword Group€38.854.2%
+€14.6m		16.3%PE17.9x
ALSEM SEMCO Technologies Société anonyme€34.004.2%
+€14.0m		n/aPE52.4x

Latest News

VU
€140.80
Vusion
7D
-15.0%
1Y
-16.0%
OVH
€8.96
OVH Groupe
7D
10.7%
1Y
5.4%

Why Investors Shouldn't Be Surprised By OVH Groupe S.A.'s (EPA:OVH) 37% Share Price Surge

Jan 20
Why Investors Shouldn't Be Surprised By OVH Groupe S.A.'s (EPA:OVH) 37% Share Price Surge
ALRIB
€4.31
Riber
7D
14.3%
1Y
24.6%

Riber S.A. (EPA:ALRIB) Stocks Shoot Up 29% But Its P/E Still Looks Reasonable

Jan 20
Riber S.A. (EPA:ALRIB) Stocks Shoot Up 29% But Its P/E Still Looks Reasonable
GEA
€84.50
Grenobloise d'Electronique et d'Automatismes Société Anonyme
7D
7.6%
1Y
11.2%
ALKAL
€2.90
Kalray
7D
117.1%
1Y
253.7%
ALSEM
€34.00
SEMCO Technologies Société anonyme
7D
4.2%
1Y
n/a
ATE
€72.80
Alten
7D
-7.3%
1Y
-9.3%

ATE: Prolonged 2025 Slowdown And Uncertain Recovery Will Restrain Longer-Term Outlook

Analysts have kept their target on Alten broadly steady at around €68.0 per share. The small shift in inputs, such as a slightly lower discount rate, a higher revenue growth assumption of 3.36%, a profit margin assumption of 6.04%, and a marginally lower future P/E of 10.83%, reflects a more balanced view of the company’s risk and earnings profile.
AL2SI
€11.58
2CRSI
7D
8.4%
1Y
186.6%
STMPA
€23.49
STMicroelectronics
7D
-5.0%
1Y
-4.8%
CAP
€133.30
Capgemini
7D
-9.3%
1Y
-18.4%

CAP: AI Partnerships And Cybersecurity Wins Will Drive Future Upside

Narrative Update: Capgemini Capgemini’s narrative update reflects a reduced Street anchor, as analysts have moved a key price target down from €186 to €165. They cite refreshed assumptions on discount rates and valuation multiples, while largely maintaining their broader constructive stance on the shares.
SOP
€147.10
Sopra Steria Group
7D
-7.2%
1Y
-14.5%

SOP: Buy Rating Will Rely On Modestly Higher Multiple And Leadership Transition

Analysts have trimmed their price target on Sopra Steria Group to €209 from €214, reflecting updated assumptions around discount rate, profit margin and P/E. These changes leave the modelled fair value unchanged at €197.60.
DSY
€23.46
Dassault Systèmes
7D
-3.9%
1Y
-33.1%

DSY: Transition And Communication Clarity Will Shape Future Market Reappraisal

Narrative Update Analysts have trimmed their fair value view on Dassault Systèmes to €23 from €26. This reflects updated assumptions for slightly lower revenue growth, a modestly adjusted profit margin profile, and a lower future P/E multiple, as they see the business in transition and the timing of any clear inflection as uncertain.
ALLIX
€27.60
WALLIX GROUP
7D
2.6%
1Y
176.0%
LSS
€23.40
Lectra
7D
-7.0%
1Y
-10.7%

With Lectra SA (EPA:LSS) It Looks Like You'll Get What You Pay For

Dec 31
With Lectra SA (EPA:LSS) It Looks Like You'll Get What You Pay For
PLNW
€21.00
Planisware SAS
7D
-9.1%
1Y
-22.4%
SWP
€38.85
Sword Group
7D
4.2%
1Y
16.3%