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French (CAC) IT Industry Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies20
  • 7D-0.6%
  • 3M3.0%
  • 1Y-18.9%
  • YTD-4.3%

Last week, the IT industry hasn't moved much but OVH Groupe is up 21% in that time. Unfortunately though, the industry is down 19% over the past 12 months. As for the next few years, earnings are expected to grow by 9.2% per annum.

Industry Valuation and Performance

Has the French IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026€32.0b€36.4b€2.2b16.8x14.6x0.9x
Sat, 27 Dec 2025€34.1b€37.1b€2.2b15.9x15.4x0.9x
Mon, 24 Nov 2025€31.3b€37.1b€2.2b14.7x14.2x0.8x
Wed, 22 Oct 2025€30.0b€37.1b€2.2b16.1x13.6x0.8x
Fri, 19 Sep 2025€31.2b€37.1b€2.3b15x13.8x0.8x
Sun, 17 Aug 2025€31.1b€37.1b€2.3b15.6x13.7x0.8x
Tue, 15 Jul 2025€34.9b€46.8b€2.6b15.3x13.2x0.7x
Thu, 12 Jun 2025€38.1b€46.8b€2.6b15.4x14.4x0.8x
Sat, 10 May 2025€36.8b€46.7b€2.6b15.1x14x0.8x
Mon, 07 Apr 2025€34.2b€47.7b€2.6b14.2x13.2x0.7x
Wed, 05 Mar 2025€37.3b€39.6b€2.4b15.9x15.8x0.9x
Fri, 31 Jan 2025€42.9b€40.0b€2.3b16.9x18.3x1.1x
Sun, 29 Dec 2024€40.4b€40.0b€2.3b16.6x17.2x1x
Tue, 26 Nov 2024€40.8b€40.1b€2.3b17.2x17.4x1x
Thu, 24 Oct 2024€46.0b€39.7b€2.3b17x19.9x1.2x
Sat, 21 Sep 2024€47.2b€39.9b€2.3b19.1x20.4x1.2x
Mon, 19 Aug 2024€45.5b€40.0b€2.3b17.6x19.7x1.1x
Wed, 17 Jul 2024€48.4b€40.1b€2.2b20.3x21.5x1.2x
Fri, 14 Jun 2024€49.1b€40.1b€2.2b21.7x21.8x1.2x
Sun, 12 May 2024€51.7b€40.0b€2.2b22.7x23x1.3x
Tue, 09 Apr 2024€54.5b€39.7b€2.3b22.2x23.9x1.4x
Thu, 07 Mar 2024€57.5b€51.9b€1.2b21.2x47.1x1.1x
Sat, 03 Feb 2024€55.2b€54.3b€1.5b19x36.4x1x
Mon, 01 Jan 2024€51.7b€54.3b€1.5b18.8x34.1x1x
Wed, 29 Nov 2023€49.1b€54.3b€1.5b17.2x32.4x0.9x
Fri, 27 Oct 2023€43.8b€54.3b€1.5b16.7x28.6x0.8x
Sun, 24 Sep 2023€46.6b€54.0b€1.6b17.1x29.9x0.9x
Tue, 22 Aug 2023€46.3b€53.9b€1.6b17.3x28.1x0.9x
Thu, 20 Jul 2023€50.9b€52.6b€1.6b19.6x31.9x1x
Sat, 17 Jun 2023€51.2b€52.6b€1.6b18.9x32.1x1x
Mon, 15 May 2023€48.4b€52.4b€1.5b18x32.2x0.9x
Wed, 12 Apr 2023€49.2b€52.3b€1.6b16.3x31.7x0.9x
Fri, 10 Mar 2023€63.6b€56.6b€1.8b18.3x36.2x1.1x
Sun, 05 Feb 2023€65.8b€52.9b-€990,618,094.0019.9x-66.4x1.2x
Price to Earnings Ratio

-66.4x


Total Market Cap: €65.8bTotal Earnings: -€990,618,094.00Total Revenue: €52.9bTotal Market Cap vs Earnings and Revenue0%0%0%
French IT Industry Price to Earnings3Y Average 20.1x202420252026
Current Industry PE
  • Investors are pessimistic on the French IT industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 14.6x which is lower than its 3-year average PE of 20.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.98x.
Past Earnings Growth
  • Total earnings for the IT industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 12% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Trends

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

FR Market-0.73%
Tech1.10%
IT-0.65%
Internet Services and Infrastructure0.29%
IT Consulting-0.65%
Data Processing Services-6.60%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 19.9x.
    • Analysts are expecting annual earnings growth of 9.2%, which is higher than its past year's earnings decline of 6.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 40% per year.
  • In contrast, the IT Consulting 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€10.7620.8%
+€278.2m		34.1%PE4045.8x
WAVE Wavestone€61.804.6%
+€66.3m		33.2%PE19.3x
SOP Sopra Steria Group€149.401.8%
+€51.9m		-14.5%PE10.2x
ATO Atos€58.803.1%
+€34.7m		180.0%PE0.8x
ATE Alten€72.700.9%
+€22.7m		-18.5%PE16.8x

Latest News

AUB
€57.70
Aubay Société Anonyme
7D
1.8%
1Y
30.0%
WAVE
€61.80
Wavestone
7D
4.6%
1Y
33.2%

Wavestone (EPA:WAVE) Seems To Use Debt Rather Sparingly

Jan 28
Wavestone (EPA:WAVE) Seems To Use Debt Rather Sparingly
ATE
€72.70
Alten
7D
0.9%
1Y
-18.5%

ATE: Higher Revenue Expectations Will Support A More Optimistic Future P/E

Narrative Update: Alten Analysts have raised their fair value estimate for Alten from €97.54 to €99.85. This reflects updated assumptions around slightly higher revenue growth, a modestly lower profit margin, and a small adjustment to the future P/E multiple.
ALKEY
€8.50
Keyrus
7D
11.0%
1Y
11.5%
OVH
€10.76
OVH Groupe
7D
20.8%
1Y
34.1%

OVH: European Cloud Expansion And SecNumCloud Deals Will Drive Long-Term Upside

Analysts have kept their fair value estimate for OVH Groupe steady at €12.00. They cited updated assumptions of a lower discount rate, slightly higher revenue growth and profit margin projections, and a lower future P/E multiple as the key drivers behind the unchanged target.
ATO
€58.80
Atos
7D
3.1%
1Y
180.0%
SWP
€36.60
Sword Group
7D
-5.9%
1Y
6.9%
SOP
€149.40
Sopra Steria Group
7D
1.8%
1Y
-14.5%

SOP: Buy Case Will Depend On Leadership Transition Execution

Sopra Steria Group’s fair value estimate has edged up to about €198.92, as analysts adjust price targets in a mixed way. One has moved to €168 from €160 and another to €209 from €214, while keeping broadly stable views on discount rate, revenue growth, profit margin, and future P/E assumptions.
CAP
€131.50
Capgemini
7D
-1.5%
1Y
-23.7%

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.
NRO
€39.40
Neurones
7D
-1.7%
1Y
-11.2%

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

Dec 03
These 4 Measures Indicate That Neurones (EPA:NRO) Is Using Debt Safely
INF
€41.60
Infotel
7D
2.7%
1Y
15.9%
MLCHE
€58.00
Cheops Technology France Société anonyme
7D
-2.5%
1Y
-8.7%
ALNXT
€0.41
Nextedia
7D
-0.2%
1Y
-9.8%