Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Capital B S.A. is a technology company specializing in data marketing technologies and services with a strong focus on blockchain, Bitcoin treasury management, data intelligence, and artificial intelligence. Headquartered in Puteaux, Ile-de-France, Capital B operates primarily through two entities: iOrga, which develops custom applications using both traditional and decentralized technologies, and Trimane, which provides data intelligence solutions along the entire data value chain. The company’s offerings include tailored digital solutions such as web development, business intelligence, and AI-driven decision-making tools, alongside services integrating blockchain infrastructure and decentralized applications. Since rebranding from The Blockchain Group to Capital B, the firm has positioned itself as Europe’s first Bitcoin Treasury Company, aiming to accumulate and hold Bitcoin as a strategic reserve asset. With a workforce of approximately 135 employees, Capital B serves clients by combining technology consulting, AI, and decentralized technologies, reflecting its key role within the fintech and blockchain sectors on the European technology landscape.
The business is unprofitable at the operating level (-583.33% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 19.2% YoY. Margins deteriorated 561.9pp alongside, both lines moving the wrong way.
ROIC dropped from -17.60% to -46.25%, capital efficiency is deteriorating. Negative free cash flow of -€6M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€11M
▼ -19.2% YoY
Net Income (TTM)
-€62M
▼ -4668.3% YoY
Op. Margin
-583.33%
▼ -561.9pp YoY
ROIC
-46.25%
▼ -28.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€6M
▼ -199.3% YoY
Op. Cash Flow (TTM)
-€6M
▼ -1008.4% YoY
Net Debt
-€120M
Net Cash Position
Cash & Equiv.
€218M
3Y CAGR: -19.3%
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