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.
Neurones S.A. is a France-based company specializing in consulting and IT services, with a focus on digital transformation, infrastructure management, and application development. Headquartered in Paris, it operates through three main segments: Infrastructure Services, providing high-availability IT operations, secure access, and outsourcing for systems, networks, servers, and workstations; Application Services, encompassing software projects like SAP, web development, data analysis, and decision support; and Consulting, offering expertise in management, organization, and digital strategies. Serving diverse sectors including finance, banking, insurance, public administration, healthcare, retail, energy, and telecommunications, Neurones S.A. delivers tailored solutions such as cloud computing, cybersecurity, big data analytics, AI, and machine learning to enhance operational efficiency and client competitiveness. With over 7,200 experts across Europe, primarily in France and Belgium, the company emphasizes innovation, strategic partnerships with providers like Microsoft and Salesforce, and long-term client relationships through maintenance contracts and recurring projects. Its revenue streams include consulting (around 48%), software licensing (24%), and maintenance (19%), underscoring its pivotal role in Europe's IT services market.
Operating margin is thin at 8.84%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 5.8%, steady but not accelerating. Free cash flow declined 16% despite revenue growth, conversion is weakening.
Free cash flow declined 16% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
€857M
▲ +5.8% YoY
Net Income (TTM)
€62M
▼ -2.2% YoY
Op. Margin
8.84%
▼ -0.8pp YoY
ROIC
11.25%
▼ -0.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€61M
▼ -15.9% YoY
Op. Cash Flow (TTM)
€61M
▼ -16.1% YoY
Net Debt
-€304M
Net Cash Position
Cash & Equiv.
€341M
3Y CAGR: +8.8%
3Y CAGR: +11.1%
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