Added to YB: 2026-08-10
Pitch date: 2026-07-31
AMS.MC [neutral]
Amadeus IT Group, S.A.
+3.94%
current return
Author Info
No bio for this author
Company Info
Amadeus IT Group, S.A., together with its subsidiaries, operates as a transaction processor for the travel and tourism industry in Europe, Central and South America, the Middle East, Africa, and Asia Pacific.
Market Cap
EUR 23.7B
Pitch Price
EUR 54.34
Price Target
N/A
Dividend
2.73%
EV/EBITDA
10.45
P/E
18.66
EV/Sales
4.00
Sector
Hotels, Restaurants and Leisure
Category
value
Troy Asset Management Global Equity Strategy Portfolio Holding: Amadeus IT Group, S.A.
AMS.MC (holding update): Down -20% YTD as market labels it an 'AI loser' fearing GDS disintermediation & enterprise software churn. Troy sees mispricing: GDS resilient 20yrs, Air IT charges per passenger (not seats), 70% margins, €1.5bn R&D moat, 50% share. At 14x fwd EPS, Air IT + Hospitality alone worth more than current price even if Air Distribution goes to zero. Watch: PSS customer loss, AI booking channels gaining airline content parity.
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