Capgemini Se Stock Earnings Reports

Capgemini delivered a solid FY2025 with revenues of EUR 22.46bn (+3.4% at constant currency), bookings of EUR 24.36bn (book-to-bill 1.08 for the year, 1.21 in Q4), an operating margin resilient at 13.3% and organic free cash flow of EUR 1.95bn. Q4 showed clear underlying acceleration (Q4 constant-currency growth 10.6% including ~6.5 pts scope from WNS and Cloud4C; organic Q4 growth ~4%), with broad-based improvement across regions and sectors and particularly strong acceleration in North America, Operations and Engineering, and digital BPS. Management is focusing the company on three strategic growth pillars—AI (enterprise adoption / Agentic AI), Intelligent Operations (scale via WNS integration) and Sovereignty (Cloud4C, Bleu SecNumCloud JV, hyperscaler partnerships). WNS and Cloud4C integrations are on track with targeted synergies (revenue synergies EUR 100–140m run-rate and cost synergies EUR 50–70m run-rate by end-2027). The Board will propose a EUR 3.40/share dividend; the 2025 capital allocation included ~EUR 3.8bn on acquisitions (WNS, Cloud4C) and buybacks/dividends; net debt ended at EUR 5.3bn (net debt/EBITDA 1.66x). Management announced a Fit-for-Growth program (estimated restructuring ~EUR 700m over two years) to realign skills and footprint. 2026 targets: constant-currency revenue growth ~6.5–8.5% (inorganic contribution ~4.5–5 pts), operating margin 13.6–13.8%, organic FCF ~EUR 1.8–1.9bn (including ~EUR 200m restructuring cash out). Key near-term risks called out: continued currency headwinds, a mixed macro/backdrop in Continental Europe, and the typical long sales cycles for large Intelligent Operations deals. Capital Markets Day in May will provide further detail on the AI roadmap.