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.
Substrate Artificial Intelligence S.A. is a technology company specializing in the creation and development of artificial intelligence systems. It offers a suite of AI solutions including compute and cloud services, storage and data fabric, networking, security and governance, AI platforms and agents, and developer access. The company provides products such as Serenity Star for enterprise productivity enhancement and AI Energy Management System for optimizing energy consumption, particularly in hospitality. Its bio-inspired reinforced learning technology addresses challenges like data requirements and adaptability in dynamic environments. Substrate Artificial Intelligence S.A. serves diverse sectors including AI and technology, gaming and simulation, healthcare, finance, telecommunications, public sector, manufacturing, smart cities, education and research, energy and sustainability, agritech, livestock, human resources, and fintech. Operating across Spain, the United Kingdom, the United States, and Latin America, it focuses on AI-as-a-Service and managed services. Founded in 2010 and headquartered in Madrid, Spain, the company plays a key role in advancing sovereign AI infrastructure and innovation in Europe.
€0.03
€0.00 (-5.30%)
EOD Jun 23, 2026 · Twelve Data
10.38% operating margin is respectable but not wide. ROIC at 3.13%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 2.8%, essentially flat. Margins also contracted 11.4pp. This is a business that needs a catalyst.
ROIC dropped from 8.73% to 3.13%, capital efficiency is deteriorating. Negative free cash flow of -€5M. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€18M
▲ +2.8% YoY
Net Income (TTM)
-€7M
▼ -200.7% YoY
Op. Margin
10.38%
▼ -11.4pp YoY
ROIC
3.13%
▼ -5.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€5M
▼ -40.4% YoY
Op. Cash Flow (TTM)
-€4M
▼ -1542.5% YoY
Net Debt
€4M
Cash & Equiv.
€2M
3Y CAGR: +79.1%
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