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French (CAC) Tech Sector Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies93
  • 7D-1.0%
  • 3M-3.8%
  • 1Y-13.3%
  • YTD2.5%

The Tech is pretty flat in the last 7 days, but Wavestone has stood out, gaining 6.9%. Unfortunately though, the industry is down 13% over the past 12 months. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026€103.7b€63.5b€4.0b21.9x26.2x1.6x
Sat, 13 Dec 2025€101.5b€63.5b€4.0b21.4x25.6x1.6x
Mon, 10 Nov 2025€94.5b€63.7b€4.0b20.5x23.4x1.5x
Wed, 08 Oct 2025€108.0b€63.4b€4.1b18.6x26.2x1.7x
Fri, 05 Sep 2025€100.4b€63.4b€4.2b15.3x23.9x1.6x
Sun, 03 Aug 2025€104.5b€63.4b€4.2b15.9x24.8x1.6x
Tue, 01 Jul 2025€118.0b€73.0b€5.1b17x23.3x1.6x
Thu, 29 May 2025€116.9b€73.5b€5.1b16.1x22.9x1.6x
Sat, 26 Apr 2025€109.2b€73.3b€5.1b15.1x21.6x1.5x
Mon, 24 Mar 2025€124.7b€75.9b€5.5b17.8x22.5x1.6x
Wed, 19 Feb 2025€132.1b€68.4b€5.4b16.7x24.7x1.9x
Fri, 17 Jan 2025€125.4b€69.7b€5.8b16.4x21.5x1.8x
Sun, 15 Dec 2024€125.7b€69.4b€5.8b16.1x21.6x1.8x
Tue, 12 Nov 2024€125.1b€69.2b€5.8b16.4x21.5x1.8x
Thu, 10 Oct 2024€131.9b€69.8b€6.4b16.9x20.6x1.9x
Sat, 07 Sep 2024€128.7b€69.5b€6.5b18.7x19.8x1.9x
Mon, 05 Aug 2024€130.8b€70.0b€6.6b17.9x19.9x1.9x
Wed, 03 Jul 2024€141.5b€71.3b€7.1b19.6x19.8x2x
Fri, 31 May 2024€150.4b€71.0b€7.1b21.1x21.1x2.1x
Sun, 28 Apr 2024€151.0b€73.1b€6.9b20x21.7x2.1x
Tue, 26 Mar 2024€159.8b€85.0b€6.0b20.2x26.7x1.9x
Thu, 22 Feb 2024€165.3b€87.7b€6.2b20.9x26.5x1.9x
Sat, 20 Jan 2024€168.7b€89.1b€6.8b21.6x24.8x1.9x
Mon, 18 Dec 2023€173.2b€89.1b€6.8b21x25.5x1.9x
Wed, 15 Nov 2023€156.9b€89.1b€6.8b20x23x1.8x
Fri, 13 Oct 2023€151.6b€89.5b€6.9b18.7x21.9x1.7x
Sun, 10 Sep 2023€152.4b€88.5b€6.8b21x22.4x1.7x
Tue, 08 Aug 2023€157.4b€87.9b€6.8b21.5x23.3x1.8x
Thu, 06 Jul 2023€160.8b€86.4b€6.7b20.5x24.1x1.9x
Sat, 03 Jun 2023€159.2b€86.5b€6.7b18.9x23.7x1.8x
Mon, 01 May 2023€148.5b€85.8b€6.5b19.1x22.7x1.7x
Wed, 29 Mar 2023€152.3b€84.9b€6.4b19.7x23.9x1.8x
Fri, 24 Feb 2023€170.9b€88.3b€4.2b22.1x40.4x1.9x
Sun, 22 Jan 2023€157.6b€84.6b€3.4b22.2x45.9x1.9x
Price to Earnings Ratio

45.9x


Total Market Cap: €157.6bTotal Earnings: €3.4bTotal Revenue: €84.6bTotal Market Cap vs Earnings and Revenue0%0%0%
French Tech Sector Price to Earnings3Y Average 24x202420252026
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 24.0x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 4.9% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.1% 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 Market1.53%
Tech-0.98%
Tech Hardware1.73%
IT0.90%
Software-0.24%
Communications-1.53%
Semiconductors-1.88%
Electronic Equipment and Components-18.28%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 16.2x.
    • 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 68% 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
WAVE Wavestone€60.606.9%
+€95.8m		48.3%PE18.9x
CAP Capgemini€147.600.3%
+€84.3m		-6.1%PE15.9x
OVH OVH Groupe€8.077.4%
+€83.5m		4.1%PE3032.5x
SOI Soitec€28.247.8%
+€72.8m		-66.3%PE93.4x
ATO Atos€57.136.8%
+€70.5m		172.0%PE0.7x

Latest News

WAVE
€60.60
Wavestone
7D
6.9%
1Y
48.3%
QDT
€16.60
Quadient
7D
8.5%
1Y
-6.7%
ATE
€76.50
Alten
7D
2.5%
1Y
-1.4%

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.
OVH
€8.07
OVH Groupe
7D
7.4%
1Y
4.1%

OVH: New Leadership And AI Cloud Expansion Will Support Future Upside

Analysts have trimmed their fair value estimate for OVH Groupe from €9.06 to €8.81, citing slightly softer assumptions on revenue growth, profit margins and future P/E, alongside the application of a marginally lower discount rate. What's in the News OVHcloud signed a cloud hosting agreement with LCH SA, aiming to support LCH SA's operational resilience, security, scalability, and faster deployment, including migration of some services to a SecNumCloud qualified environment that complies with applicable regulations for the clearing house's activities (Key Developments).
SOI
€28.24
Soitec
7D
7.8%
1Y
-66.3%

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.
STMPA
€24.13
STMicroelectronics
7D
-2.3%
1Y
0.3%
CAP
€147.60
Capgemini
7D
0.3%
1Y
-6.1%

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.
XFAB
€5.33
X-FAB Silicon Foundries
7D
-3.4%
1Y
6.9%

XFAB: Hold Downgrade And CEO Transition Will Set Up Future Upside

Narrative Update on X-FAB Silicon Foundries Analysts have revised their stance on X-FAB Silicon Foundries, setting a lower price target of €6. This reflects a more cautious view that still broadly aligns with existing fair value and earnings assumptions.
VU
€157.70
Vusion
7D
-24.5%
1Y
-3.1%

VU: Major Retail Rollouts Will Support Future Share Upside Potential

Analysts have nudged their price target on VusionGroup higher to about €284 from roughly €282, citing slightly adjusted assumptions around discount rates, revenue growth, profit margins, and future P/E, which together support a modestly higher fair value estimate. What's in the News VusionGroup announced a new deployment of its smart electronic shelf labels and VusionCloud platform across more than 200 OBI home improvement stores in Germany, integrating with OBI's existing Cisco Meraki wireless infrastructure without additional hardware to automate pricing and reduce manual in store tasks (Client announcement).
SOP
€157.00
Sopra Steria Group
7D
1.7%
1Y
-3.6%

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.
ATO
€57.13
Atos
7D
6.8%
1Y
172.0%

ATO: AI And Data Initiatives Will Mask Weakening Revenue Outlook

Analysts have increased their fair value estimate for Atos from €43.00 to €46.50, citing updated assumptions around revenue trends, profit margins, and forward P/E multiples. What's in the News Atos is participating in the Forensics of Intelligent Systems research project with several German academic and research institutions, focusing on tools to detect and investigate manipulation of AI systems and aligning with its focus on trustworthy AI and European data sovereignty (Key Developments).
LSS
€24.60
Lectra
7D
-1.6%
1Y
-3.9%

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
€22.40
Planisware SAS
7D
-4.5%
1Y
-14.2%
ALBFR
€222.00
Sidetrade
7D
-5.9%
1Y
-4.3%
INF
€39.80
Infotel
7D
-5.5%
1Y
2.1%
ARTO
€8,600.00
Société Industrielle et Financière de l'Artois Société anonyme
7D
-0.6%
1Y
-21.8%