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French (CAC) Tech Sector Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies95
  • 7D0.8%
  • 3M-1.6%
  • 1Y-15.4%
  • YTD-14.5%

In the last week, Tech has been flat. As for the longer term, the industry has declined 16% 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
Mon, 15 Dec 2025€101.5b€63.5b€4.0b21.4x25.6x1.6x
Wed, 12 Nov 2025€97.5b€63.7b€4.0b20.9x24.2x1.5x
Fri, 10 Oct 2025€107.5b€63.5b€4.1b19.3x26x1.7x
Sun, 07 Sep 2025€101.9b€63.3b€4.2b15.2x24.3x1.6x
Tue, 05 Aug 2025€104.3b€63.4b€4.2b16.1x24.8x1.6x
Thu, 03 Jul 2025€119.2b€72.9b€5.1b17.1x23.6x1.6x
Sat, 31 May 2025€115.7b€73.4b€5.1b16x22.7x1.6x
Mon, 28 Apr 2025€109.2b€73.3b€5.0b15.1x21.7x1.5x
Wed, 26 Mar 2025€125.6b€76.0b€5.6b17.8x22.6x1.7x
Fri, 21 Feb 2025€132.9b€68.2b€5.3b16.5x24.9x1.9x
Sun, 19 Jan 2025€126.6b€69.7b€5.8b16.7x21.7x1.8x
Tue, 17 Dec 2024€123.6b€69.4b€5.8b16.3x21.3x1.8x
Thu, 14 Nov 2024€121.5b€69.3b€5.8b15.2x20.8x1.8x
Sat, 12 Oct 2024€130.8b€69.8b€6.4b17x20.4x1.9x
Mon, 09 Sep 2024€128.7b€69.5b€6.5b18.7x19.8x1.9x
Wed, 07 Aug 2024€127.6b€70.0b€6.6b16.9x19.4x1.8x
Fri, 05 Jul 2024€145.3b€71.2b€7.1b19.6x20.4x2x
Sun, 02 Jun 2024€148.1b€71.0b€7.1b20.7x20.8x2.1x
Tue, 30 Apr 2024€150.6b€73.2b€6.9b20.2x21.7x2.1x
Thu, 28 Mar 2024€160.4b€73.1b€7.6b19.6x21.2x2.2x
Sat, 24 Feb 2024€168.6b€87.7b€6.3b19.9x26.7x1.9x
Mon, 22 Jan 2024€168.7b€89.1b€6.8b21.6x24.8x1.9x
Wed, 20 Dec 2023€171.6b€88.9b€6.8b21.7x25.3x1.9x
Fri, 17 Nov 2023€160.0b€89.2b€6.8b20.1x23.4x1.8x
Sun, 15 Oct 2023€147.7b€89.5b€6.9b18.4x21.3x1.7x
Tue, 12 Sep 2023€152.0b€88.4b€6.8b20.7x22.4x1.7x
Thu, 10 Aug 2023€155.8b€88.0b€6.8b21.6x23x1.8x
Sat, 08 Jul 2023€157.4b€86.3b€6.6b20.1x23.7x1.8x
Mon, 05 Jun 2023€159.2b€86.5b€6.7b18.9x23.7x1.8x
Wed, 03 May 2023€148.7b€85.8b€6.5b19x22.8x1.7x
Fri, 31 Mar 2023€159.8b€85.0b€6.3b19.7x25.3x1.9x
Sun, 26 Feb 2023€168.2b€88.6b€4.3b21.8x39.4x1.9x
Tue, 24 Jan 2023€159.7b€84.6b€3.4b22.4x46.5x1.9x
Thu, 22 Dec 2022€149.5b€84.8b€3.5b21.4x42.7x1.8x
Price to Earnings Ratio

42.7x


Total Market Cap: €149.5bTotal Earnings: €3.5bTotal Revenue: €84.8bTotal Market Cap vs Earnings and Revenue0%0%0%
French Tech Sector Price to Earnings3Y Average 24.5x202320242025
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 24.5x.
  • 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 grown 4.3% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.2% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

FR Market-0.23%
Tech0.78%
IT2.97%
Communications1.46%
Tech Hardware0.10%
Software-0.11%
Semiconductors-0.16%
Electronic Equipment and Components-3.48%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 15.1x.
    • Analysts are expecting annual earnings growth of 38.4%, 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 67% 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 9.6% 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
CAP Capgemini€147.602.1%
+€526.8m		-5.4%PE16.1x
SOP Sopra Steria Group€148.6011.2%
+€288.2m		-11.0%PE10.1x
ATO Atos€55.2615.6%
+€144.7m		207.0%PE0.7x
ATE Alten€72.555.9%
+€141.2m		-4.0%PE16.8x
WAVE Wavestone€58.002.3%
+€31.8m		43.0%PE18x

Latest News

PLNW
€21.10
Planisware SAS
7D
-3.4%
1Y
-20.6%

A Look At The Fair Value Of Planisware SAS (EPA:PLNW)

Dec 15
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SOP
€148.60
Sopra Steria Group
7D
11.2%
1Y
-11.0%
ATE
€72.55
Alten
7D
5.9%
1Y
-4.0%

ATE: Leadership Transition And 2025 Downturn Will Shape Moderate Longer-Term Outlook

Analysts have nudged their price target for Alten higher to approximately €68 from about €66.80, citing a modestly stronger outlook for revenue growth and profit margins. This improvement more than offsets a slightly higher assumed discount rate and a marginally lower future P/E multiple.
CLA
€1.30
Claranova
7D
-10.0%
1Y
0.8%
VU
€202.20
VusionGroup
7D
-4.6%
1Y
49.2%

VU: Major Retail Rollouts And Long Term Contracts Will Drive Shares Higher

Analysts have modestly raised their price target on VusionGroup to $281.57 per share, citing slightly higher assumed discount rates as well as stable long term growth and profitability expectations that support a steady valuation outlook. What's in the News VusionGroup to deploy its smart electronic shelf labels and VusionCloud platform across more than 200 OBI DIY stores in Germany, fully integrating with existing Cisco Meraki infrastructure and requiring no additional hardware (Client Announcement) Strategic partnership with DM to roll out the EdgeSense digital shelf platform in a phased program covering about 70 stores, using IoT, data, computer vision, and AI to streamline operations and enhance customer experience (Strategic Alliance) Morrisons becomes the first major UK supermarket chain to deploy 10.8 million electronic shelf labels across all 497 supermarkets, with rollout starting in early 2026 and tied to a broader digital transformation program including shelf edge cameras and upgraded in store wi fi (Client Announcement) Asda extends VusionGroup electronic shelf labels and digital solutions to 250 of its largest Express convenience stores after a successful trial, deploying about 700,000 digital displays that automate pricing updates and improve on shelf information such as allergens and unit prices (Client Announcement) Following record first half results, VusionGroup raises 2025 revenue guidance to around €1.5 billion, implying roughly 50 percent growth, and targets more than 80 percent growth in value added services revenue while reiterating expectations for a record fourth quarter (Corporate Guidance) Valuation Changes Fair Value: unchanged at approximately €281.57 per share, reflecting stable long term assumptions.
STMPA
€22.37
STMicroelectronics
7D
-0.2%
1Y
-10.1%
CAP
€147.60
Capgemini
7D
2.1%
1Y
-5.4%

CAP: AI Partnerships And Sovereign Cloud Deals Will Drive Future Upside

Analysts have modestly lowered their price target on Capgemini, with updated modeling for a slightly higher discount rate, softer medium term revenue growth, and a marginally lower profit margin contributing to a reduced fair value and a new Street target of EUR 165, down from EUR 186. Analyst Commentary Street research on Capgemini reflects a constructive long term view tempered by near term caution, with the lower price target primarily driven by adjustments to growth and risk assumptions rather than a fundamental change in the company narrative.
AUB
€54.50
Aubay Société Anonyme
7D
3.6%
1Y
24.4%
WAVE
€58.00
Wavestone
7D
2.3%
1Y
43.0%
NRO
€43.80
Neurones
7D
-1.1%
1Y
-1.7%

These 4 Measures Indicate That Neurones (EPA:NRO) Is Using Debt Safely

Dec 03
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ATO
€55.26
Atos
7D
15.6%
1Y
207.0%

ATO: Cybersecurity Expansion And AI Service Delivery Will Sustain Stable Performance

Analysts have maintained their fair value price target for Atos at €43.00, citing unchanged expectations for the company's revenue growth, profit margin, and discount rate in their latest assessment. What's in the News Atos introduced an Agentic AI solution, the Autonomous Data and AI Engineer, to automate and accelerate data and AI engineering tasks.
SOI
€25.80
Soitec
7D
-2.2%
1Y
-70.2%

SOI: Leadership Transition And Sector Recovery Will Drive Share Momentum Ahead

Analysts have lowered their price target for Soitec from €48.35 to €36.00, citing cautious sector outlooks and recalibrated growth expectations. Analyst Commentary Analyst opinions on Soitec remain mixed as the company faces both headwinds and selective areas of optimism in its near-term outlook.
LSS
€22.85
Lectra
7D
-1.9%
1Y
-13.8%

Should You Investigate Lectra SA (EPA:LSS) At €23.15?

Nov 26
Should You Investigate Lectra SA (EPA:LSS) At €23.15?
ALSEM
€27.50
SEMCO Technologies Société anonyme
7D
8.6%
1Y
n/a
74SW
€38.90
74Software
7D
2.1%
1Y
40.4%

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Nov 12
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ALCPB
€0.81
Blockchain Group
7D
-7.6%
1Y
140.6%