Professional
Added to YB: 2024-12-13
Pitch date: 2024-12-12
ATE.PA [bullish]
Alten S.A.
-4.19%
current return
Author Info
Granular Capital is a London based equity manager that was founded in 2018. Our aim is to pursue a concentrated strategy in small and mid-capitalisation stocks in Europe. Our strategy to invest in companies is based off strategic cornerstones. Deep fundamental research allows us to develop conviction in strong businesses with proven quality and long term growth trajectories. This long term approach leads us to partner with aligned management teams, resulting in a low portfolio turnover which supports deep fundamental research. Sign up for the newsletter.
Company Info
Alten S.A. operates as an engineering and technology consultancy company in France, North America, Germany, Scandinavia, Benelux, Iberian, Spain, Italy, the United Kingdom, the Asia-Pacific, Switzerland, Eastern Europe, and internationally.
Market Cap
EUR 2.4B
Pitch Price
EUR 75.72
Price Target
250.00 (+245%)
Dividend
2.17%
EV/EBITDA
5.78
P/E
16.08
EV/Sales
0.59
Sector
IT Services
Category
value
Alten S.A. - $ATE.PA
ATE.PA: ER&D leader, 13% 10yr rev CAGR, 20% ROIC. Recent slowdown (0.1% Q3 organic) due to macro, but taking share. Trading 11x PE vs 17x 10yr avg. Bull: 26% 5yr IRR on 10% CAGR, 10% EBIT margin. Bear: 1% IRR on 1% CAGR, 8.2% margin. Key risks: succession, offshoring, AI disruption.
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