• Capgemini Full-Year 2025 Results Revenues of €22,465 million in 2025, up +1.7%
  • Revenue growth at constant exchange rates* of +3.4% for the full year, and +10.6% in Q4
  • Bookings up +3.9% at constant exchange rates to €24.4 billion with a 1.08 book-to-bill
  • Stable operating margin*, at 13.3% of revenues
  • Net profit, Group share, of €1,601 million
  • Basic earnings per share of €9.46, down -3.7% and normalized earnings per share of €12.95, up +5.8%
  • Organic free cash flow* stable at €1.95 billion
  • Proposed dividend of €3.40 per share

Mumbai : The Board of Directors of Capgemini SE, chaired by Paul Hermelin, convened on February 12, 2026 in Paris to review and adopt the accounts  of the Capgemini Group for the year ended December 31, 2025.

Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “In a complex macroeconomic environment, we exceeded our revenue growth objective and met our margin and organic free cash flow targets, demonstrating the strength and clarity of our strategic direction. The improvement of our underlying growth dynamics throughout the year has been driven by a strong demand for cloud, data & AI and digital business process services, as well as a greater number of large transformational deals.

We are helping clients to scale AI from small experiments to enterprise-wide programs by integrating AI throughout our portfolio, deploying it in delivery, and strengthening our partner ecosystem to accelerate path to value. Generative and agentic AI accounted for over 10% of Group bookings in Q4, demonstrating that our clients recognize us as a trusted partner for their AI-driven business and technology transformation.

We are accelerating the transformation of our capabilities to align with our growth agenda. This will drive a number of country-specific workforce and skills adaptation initiatives resulting in cumulative restructuring costs of circa €700 million over the next two years.

The strategic acquisition of WNS marked a milestone for the Group. This acquisition strengthens Capgemini’s ability to deliver GenAI‑powered intelligent operations at scale, accelerating end-to-end agentification of business processes to deliver significant value.

In 2026, our growth will be fueled by AI-led transformation programs, Intelligent Operations where we are signing some large deals, and sovereignty where demand is significantly increasing as demonstrated by our recent announcements with AWS, Google and Microsoft.

We are clearly pivoting the Group to be the catalyst for enterprise-wide AI adoption.

Looking ahead, we target for 2026 revenue growth at constant exchange rates of around +6.5% to +8.5% and an operating margin of between 13.6% and 13.8%.”

Key figures

(in millions of euros)20242025Change
Revenues 22,09622,4651.70%
Operating margin*2,9342,9831.70%
as a % of revenues13.30%13.30%stable
Operating profit2,3562,199-6.70%
as a % of revenues10.70%9.80%-0.9pts
Net profit (Group share)1,6711,601-4.20%
Basic earnings per share (€)9.829.46-3.70%
Normalized earnings per share (€)*12.2312.955.80%
Organic free cash flow*1,9611,949stable
Net cash / (Net debt)*-2,107-5,306 

Capgemini delivered a solid performance in 2025 with a tangible acceleration in growth throughout the year and a resilient operating margin. The Group benefited from the targeted initiatives implemented over the past year to make it more agile with a stronger emphasis on growth, and from a demand environment that proved slightly better than expected towards the year end.

Capgemini continued in 2025 to demonstrate the relevance of its positioning and the strength of its partner ecosystem through strong performance on large deals, while demand remained selective and even subdued in some markets. Clients maintained a strong focus on efficiency, operational agility and cost optimization while accelerating their AI transformation roadmaps. This environment has fueled a sustained demand for Capgemini’s Cloud, Data & AI services notably to provide the foundational capabilities required to scale AI. The commercial pipeline is also starting to benefit from the growing momentum in Defense, Sovereignty and Intelligent Operations.

Capgemini reported revenues of €22,465 million in 2025, up +1.7% year-on-year. Excluding the -1.7% headwind from currency fluctuations, constant currency growth* was +3.4%, above the top end of the outlook as upgraded in October 2025. After a return to positive growth in Q2, the constant currency growth rate continued to improve to reach +10.6% year-on-year in Q4, reflecting a further improvement in underlying performance and the significant contribution of the acquisitions closed in this quarter (WNS and Cloud4C). 

With bookings of €24,356 million in 2025 and €7,202 million in Q4, the Group maintained a strong commercial momentum, achieving a solid book-to-bill of 1.08 for the year, and 1.21 in Q4. When compared to 2024 bookings, this represents, at constant exchange rates, an increase of +3.9% for the year and of +9.1% in Q4. Generative AI bookings contributed more than 8% of Group bookings for the year and more than 10% in Q4.

The operating margin* was stable year-on-year, at 13.3% of revenues, or €2,983 million, within the range targeted for 2025.

Other operating income and expenses represented a net expense of €784 million in 2025, compared to €578 million in 2024. This increase is notably attributable to higher restructuring charges, and also to higher transformation costs and acquisition costs.

Capgemini’s operating profit was €2,199 million, or 9.8% of revenues, compared with €2,356 million, or 10.7% of revenues in 2024.

The Group reported a net financial expense of €30 million in 2025, compared to net income of €13 million in 2024, reflecting higher interest expense on bonds and lower interest income on cash assets.

The income tax expense was €534 million in 2025, representing an effective tax rate of 24.6%, compared to €681 million and 28.8% in 2024.

Taking into account the share of profits of associates and non-controlling interests, the Group share in net profit decreased -4.2% year-on-year to €1,601 million. Basic earnings per share is down -3.7% to €9.46. Normalized earnings per share* is up +5.8% to €12.95.

Organic free cash flow* was essentially stable at €1,949 million, in line with the target of “around €1.9 billion” for 2025.