Dassault Systemes SE DASTY

Information TechnologySoftware & IT ServicesFrance

Last close 26.46 USD on Nov 1, 2026, +2.5% year to date

Quant rating

Quant rating C Rank 84 of 200 in Information Technology

Growth C 93 of 200
Valuation D 144 of 200
Quality C 114 of 200
Revisions B 39 of 200
Momentum B 49 of 200

Wall Street consensus Sell (4.00)Average target 22.69 USD −14.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 37.9B
Enterprise value: 36.8B
52-week range: 18.99 – 29.07
3-year range: 18.99 – 52.45
Dividend yield: 1.11%
Beta (5 years): 0.95
Shares outstanding: 1,342M
Next earnings: Feb 7, 2027

About the company

Dassault Systemes SE is a France-based software company, which provides different kind of three-dimensional (3D) solutions. Its product, 3DEXPERIENCE, is a business experience platform structured in four quadrants encompassing twelve brands: Social and Collaborative applications (including ENOVIA, 3DEXCITE, CENTRIC PLM), 3D Modeling applications (including SOLIDWORKS, CATIA, GEOVIA, BIOVIA); Simulation applications (including 3DVIA, DELMIA, SIMULIA) and Information Intelligence applications (including NETVIBES, EXALEAD,MEDIADATA). The Company's structure is divided into three sectors: Manufacturing Industries (Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods & Retail) Life Sciences & Healthcare (Life Sciences) - (Life Sciences) Infrastructure & Cities (Energy & Materials; Construction, Cities and Territories; Business Services).

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	7,324	6,433	6,568	6,063	5,525	–
Revenue growth	13.8%	−2.1%	8.3%	9.7%	1.6%	6.1%
EPS (basic, normalized)	1.55	1.33	1.30	1.23	1.09	–
EPS growth	17.1%	1.8%	5.8%	13.4%	–	–
Gross margin	83.7%	83.6%	83.7%	83.8%	83.7%	83.7%
Net margin	19.2%	19.3%	17.7%	16.4%	15.9%	17.7%
ROE	13.4%	14.2%	13.9%	13.8%	13.7%	13.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	4,320
Current ratio	1.77x
Long-term debt (mil)	2,393
Net debt (mil)	−1,182
Total equity (mil)	10,954
Net debt / equity	−0.11x
Net debt / EBITDA	−0.39x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	7,324	+13.8%	5.0x	3,008	+35.2%	12.2x	1.55	+17.1%	17.0x
2026	7,199	−1.7%	5.1x	2,532	−15.8%	14.5x	1.51	−2.9%	17.5x
2027	7,748	+7.6%	4.7x	2,699	+6.6%	13.6x	1.61	+6.7%	16.4x
2028	8,256	+6.6%	4.5x	2,889	+7.0%	12.7x	1.72	+6.9%	15.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	7,199	+1.1%	+1.2%	+1.7%	1.51	+1.4%	+1.5%	+1.9%
2027	7,748	+2.6%	+2.8%	+3.7%	1.61	+2.0%	+2.0%	+2.6%
2028	8,256	+2.9%	+3.1%	+4.3%	1.72	+2.3%	+2.9%	+3.2%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,500	1,496	1,464	1,754	1,573	1,523	1,460	1,681	1,509	1,556
Sales mean (mil)	1,508	1,513	1,481	1,759	1,593	1,552	1,510	1,753	1,518	1,539
Surprise	−0.6%	−1.1%	−1.1%	−0.3%	−1.3%	−1.9%	−3.3%	−4.1%	−0.6%	+1.1%
EPS reported	0.30	0.30	0.29	0.40	0.32	0.30	0.29	0.40	0.30	0.31
EPS mean	0.29	0.30	0.28	0.38	0.32	0.30	0.29	0.40	0.29	0.29
Surprise	+5.2%	+0.2%	+3.3%	+3.9%	+1.5%	−0.5%	−1.2%	−1.1%	+2.4%	+5.3%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
DASTY Dassault Systemes SE	37.9B	−0.39x	19.2%	3.47x	17.5x	16.4x	14.5x	13.6x
PLTR Palantir Technologies Inc.	442.4B	−4.08x	36.3%	45.26x	115.0x	79.2x	87.2x	57.0x
SAP SAP SE	289.6B	0.01x	19.5%	5.48x	29.2x	25.0x	20.0x	17.3x
IBM International Business Machines Corp	243.7B	2.78x	17.4%	6.86x	20.8x	19.4x	14.6x	13.7x
ACN Accenture PLC	152.6B	−0.07x	11.3%	4.87x	17.6x	16.2x	10.1x	9.6x
DDOG Datadog Inc	84.5B	−4.89x	3.1%	19.34x	92.1x	78.1x	72.0x	56.7x
Mean		−1.11x	17.8%	14.21x	48.7x	39.1x	36.4x	28.0x
Median		−0.23x	18.3%	6.17x	25.0x	22.2x	17.3x	15.5x

Technical analysis

1M+18.6%
3M+18.1%
1Y−1.5%
3Y−27.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Dassault Systemes SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	7,324	6,433	6,568	6,063	5,525	5,437
Cost of revenue	1,192	1,052	1,072	984	898	915
Gross profit	6,132	5,381	5,496	5,079	4,627	4,522
Selling, general & administrative expenses	2,536	2,252	2,290	2,074	1,933	2,011
Research & development	1,554	1,332	1,356	1,164	1,079	1,142
Depreciation/amortization	397	374	418	430	419	482
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	54.8	16.9	61.9	17.1	35.7	68.3
Other operating expenses	0.1	−1.2	0.1	0.2	0	0.1
Operating income	1,591	1,408	1,371	1,394	1,159	818
Net interest income (expense)	125	125	96.7	5.1	−17.7	−28.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−2.9	−2.0	−31.6	−2.2	0.6	0.4
Net income before taxes	1,713	1,530	1,436	1,397	1,142	789
Provision for taxes	318	290	277	402	262	196
Minority interest	9.7	2.2	0.8	1.4	−0.2	6.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,405	1,243	1,160	997	880	600
Extraordinary items	–	–	–	–	–	–
Net income	1,405	1,243	1,160	997	880	600
EBIT, normalized	1,656	1,437	1,438	1,414	1,195	887
EBITDA, normalized	2,305	2,033	2,073	2,053	1,832	1,604
Basic EPS, normalized	1.55	1.33	1.30	1.23	1.09	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Dassault Systemes SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	4,845	4,092	3,938	2,963	3,387	2,624
Receivables	2,820	2,432	2,178	1,963	1,741	1,766
Total inventory	–	–	–	–	–	–
Prepaid expenses	190	174	162	170	156	127
Other current assets	114	101	102	88.1	80.7	74.7
Total current assets	7,970	6,799	6,379	5,184	5,365	4,592
Property, plant & equipment	1,110	979	974	877	929	1,052
Goodwill	5,536	5,224	5,303	5,320	5,357	5,362
Intangibles	2,531	2,734	3,137	3,534	3,936	4,332
Long-term investments	115	25.2	54.7	76.2	69.6	35.1
Note receivable	–	–	–	0	165	177
Other long-term assets	426	332	290	270	343	283
Total assets	17,687	16,095	16,137	15,262	16,164	15,833
Liabilities
Accounts payable	297	269	254	231	219	210
Payable/accrued	–	–	–	–	–	–
Accrued expenses	867	790	857	760	1,058	738
Short-term debt	644	465	275	275	1.5	16.7
Current portion of long-term debt	1,151	91.4	845	88.8	1,118	96.2
Other current liabilities	2,007	2,030	1,699	1,728	1,548	1,489
Total current liabilities	4,967	3,646	3,930	3,083	3,945	2,549
Long-term debt	1,925	2,612	2,852	3,462	3,961	5,787
Minority interest	6.3	14.6	13.1	15.2	15.6	54.7
Other liabilities	462	435	696	878	1,198	1,261
Total liabilities	7,360	6,708	7,492	7,438	9,119	9,652
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	158	139	148	143	152	162
Additional paid-in capital	1,451	1,259	1,295	1,208	1,260	1,165
Retained earnings (accumulated deficit)	9,957	8,297	7,913	6,751	6,494	6,160
Treasury stock	−761	−969	−835	−753	−830	−540
Other equity	−478	661	126	476	−29.7	−766
Total equity	10,327	9,387	8,646	7,824	7,045	6,181
Total liabilities & shareholders' equity	17,687	16,095	16,137	15,262	16,164	15,833

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Dassault Systemes SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,395	1,240	1,159	996	880	593
Depreciation, depletion & amortization	649	596	635	639	637	738
Deferred taxes	−155	−151	−200	−262	−110	−117
Non-cash items	169	175	276	348	274	285
Changes in working capital	−144	−142	−143	−88.4	153	16.2
Cash from operations	1,914	1,718	1,727	1,632	1,834	1,516
Investing activities
Capital expenditures	−189	−200	−160	−142	−118	−155
Other investing cash flows	−286	1.8	−18.0	−87.3	−64.5	−98.9
Cash from investing	−475	−198	−178	−229	−182	−254
Financing activities
Financing cash flow items	−298	−3.3	−1.1	−1.9	−0.1	−6.4
Cash dividends paid	−402	−313	−305	−239	−167	−223
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−227	−938	−286	−1,463	−642	−677
Cash from financing	−927	−1,255	−592	−1,704	−809	−906
Foreign exchange effects	−309	133	−74.5	75.6	102	−107
Net change in cash	203	398	882	−225	944	249
Free cash flow	1,726	1,518	1,567	1,491	1,716	1,361

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.