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French (CAC) Tech Sector Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies93
  • 7D-2.9%
  • 3M-7.2%
  • 1Y-16.2%
  • YTD1.3%

Over the last 7 days, the Tech industry has dropped 2.9%, driven by a pullback from Capgemini of 6.1%. On the other hand Wavestone is actually up 5.0%. However, the industry is down 16% over the past 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, 19 Jan 2026€102.5b€63.6b€4.0b21.9x25.8x1.6x
Wed, 17 Dec 2025€101.0b€63.4b€4.0b21.3x25.5x1.6x
Fri, 14 Nov 2025€98.5b€63.6b€4.0b20.6x24.4x1.5x
Sun, 12 Oct 2025€105.4b€63.4b€4.1b19.6x25.5x1.7x
Tue, 09 Sep 2025€103.1b€63.3b€4.2b15.4x24.6x1.6x
Thu, 07 Aug 2025€103.0b€63.3b€4.2b16.7x24.5x1.6x
Sat, 05 Jul 2025€119.7b€73.0b€5.1b16.9x23.6x1.6x
Mon, 02 Jun 2025€115.7b€73.4b€5.1b16x22.7x1.6x
Wed, 30 Apr 2025€110.6b€73.3b€5.0b15.4x22x1.5x
Fri, 28 Mar 2025€121.8b€76.0b€5.5b17.4x22x1.6x
Sun, 23 Feb 2025€134.5b€68.3b€5.3b16.7x25.5x2x
Tue, 21 Jan 2025€127.2b€69.5b€5.8b16.8x21.9x1.8x
Thu, 19 Dec 2024€124.3b€69.4b€5.8b16.6x21.4x1.8x
Sat, 16 Nov 2024€120.0b€69.4b€5.9b15.3x20.5x1.7x
Mon, 14 Oct 2024€130.8b€69.8b€6.4b16.9x20.4x1.9x
Wed, 11 Sep 2024€131.8b€69.6b€6.5b19.1x20.2x1.9x
Fri, 09 Aug 2024€128.5b€70.0b€6.6b17.5x19.6x1.8x
Sun, 07 Jul 2024€147.2b€71.2b€7.1b19.6x20.7x2.1x
Tue, 04 Jun 2024€148.1b€70.9b€7.1b20.3x20.9x2.1x
Thu, 02 May 2024€148.3b€73.3b€7.0b22.3x21.3x2x
Sat, 30 Mar 2024€159.0b€73.2b€7.4b21.6x21.6x2.2x
Mon, 26 Feb 2024€168.6b€87.7b€6.3b19.9x26.7x1.9x
Wed, 24 Jan 2024€172.7b€89.1b€6.8b21.7x25.3x1.9x
Fri, 22 Dec 2023€171.2b€88.9b€6.8b21.2x25.3x1.9x
Sun, 19 Nov 2023€160.6b€89.0b€6.8b20.1x23.6x1.8x
Tue, 17 Oct 2023€147.7b€89.4b€6.9b18.3x21.3x1.7x
Thu, 14 Sep 2023€149.7b€88.5b€6.9b20.3x21.8x1.7x
Sat, 12 Aug 2023€154.1b€88.0b€6.8b21.5x22.7x1.8x
Mon, 10 Jul 2023€157.4b€86.3b€6.6b20.1x23.7x1.8x
Wed, 07 Jun 2023€158.6b€86.5b€6.7b19x23.6x1.8x
Fri, 05 May 2023€147.2b€85.8b€6.5b18.6x22.5x1.7x
Sun, 02 Apr 2023€160.8b€85.1b€6.3b19x25.4x1.9x
Tue, 28 Feb 2023€169.8b€88.9b€4.5b22.1x38.1x1.9x
Thu, 26 Jan 2023€159.0b€84.5b€3.4b22.8x46.5x1.9x
Price to Earnings Ratio

46.5x


Total Market Cap: €159.0bTotal Earnings: €3.4bTotal Revenue: €84.5bTotal 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 grown 5.0% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.0% 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-1.51%
Tech-2.88%
Tech Hardware0.61%
Semiconductors0.24%
Communications-0.59%
Software-2.40%
IT-4.48%
Electronic Equipment and Components-14.40%
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
SOI Soitec€28.195.5%
+€52.8m		-67.0%PE93.2x
LBIRD Lumibird€23.9010.1%
+€48.4m		147.9%PE49.1x
OVH OVH Groupe€8.253.8%
+€45.1m		-1.7%PE3102x
WAVE Wavestone€60.803.1%
+€44.2m		41.4%PE19x
AL2SI 2CRSI€12.1811.7%
+€28.6m		199.6%PE127.8x

Latest News

74SW
€38.40
74Software
7D
-3.0%
1Y
41.7%

74SW: Raised 2025 Guidance And Margin Stability Will Support Upside Potential

Analysts have reduced their price target on 74Software to around $47.35 from about $49.47, citing slightly higher assumed revenue growth, modestly lower profit margin expectations, and a reduced future P/E multiple. What's in the News 74Software raised earnings guidance for the full year 2025, now expecting full year organic revenue growth to reach around 4%, which is at the upper end of its initial guidance range (Key Developments).
VU
€145.20
Vusion
7D
-21.1%
1Y
-13.3%

With A 27% Price Drop For Vusion S.A. (EPA:VU) You'll Still Get What You Pay For

Jan 16
With A 27% Price Drop For Vusion S.A. (EPA:VU) You'll Still Get What You Pay For
OVH
€8.25
OVH Groupe
7D
3.8%
1Y
-1.7%
ALKAL
€2.17
Kalray
7D
69.0%
1Y
162.1%
WAVE
€60.80
Wavestone
7D
3.1%
1Y
41.4%
ALSEM
€36.15
SEMCO Technologies Société anonyme
7D
7.2%
1Y
n/a
ATE
€74.70
Alten
7D
-1.4%
1Y
-5.9%

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.
SOI
€28.19
Soitec
7D
5.5%
1Y
-67.0%

SOI: Future Earnings Quality And Margin Delivery Will Drive Bullish Repricing

Analysts have reduced their implied fair value for Soitec to about €49 from about €86, citing lower price targets of €20 and €40, along with updated views on growth, margins and future P/E assumptions. Analyst Commentary Recent Street research on Soitec has centered on lower published price targets and more cautious formal ratings, with targets of €20 and €40 now anchoring many valuation discussions.
AL2SI
€12.18
2CRSI
7D
11.7%
1Y
199.6%
CAP
€141.60
Capgemini
7D
-2.0%
1Y
-12.5%

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
€153.30
Sopra Steria Group
7D
-1.7%
1Y
-9.7%

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
€24.20
Dassault Systèmes
7D
-2.2%
1Y
-30.5%

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.
LSS
€24.05
Lectra
7D
-3.8%
1Y
-6.8%

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
€21.50
Planisware SAS
7D
-5.9%
1Y
-18.7%
LBIRD
€23.90
Lumibird
7D
10.1%
1Y
147.9%

Is Now An Opportune Moment To Examine Lumibird SA (EPA:LBIRD)?

Nov 24
Is Now An Opportune Moment To Examine Lumibird SA (EPA:LBIRD)?
ALCPB
€0.86
Blockchain Group
7D
5.9%
1Y
125.7%