Capgemini SE

CAP: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€485.00	Rjrflk	Pzyqfxwd

Capgemini: Revenue Growth Trough Confirmed; Shares Fairly Valued

Rob Hales

Apr 30, 2024

Narrow-moat Capgemini reported a 3.3% decline in constant-currency sales in its first-quarter trading update. Not completely surprising, as the company previously indicated the first quarter would be the trough in sales growth for the fiscal year. Shares were down around 2% intraday. We don’t expect to make a material change to our EUR 210 fair value estimate. At current levels, the shares look fairly valued.

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