Financial performance
2025 key figures
- Capgemini delivered a solid performance in 2025, with growth momentum strengthening progressively over the year and operating margin remaining resilient. The Group continued to demonstrate the relevance of its positioning and the depth of its partner ecosystem, reflected in strong performance on large deals, despite selective and subdued demand in certain markets. Client priorities remained centered on efficiency, operational agility, and cost optimization, alongside accelerating AI transformation initiatives. This sustained demand for cloud, data, and AI services continues to underpin Capgemini’s role in enabling AI at scale.
Revenues (in billions of euros)
Capgemini reported revenues of €22,465 million in 2025, up 1.7% year-on-year. Revenue growth at constant exchange rates was 3.4% for the full year, above the top end of the outlook as upgraded in October 2025. Organic free cash flow1 was stable at €1.95 billion. After a return to positive growth in Q2, the constant currency growth rate continued to improve, reaching 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).
Operating margin2 (in % of revenues)
The operating margin was stable year-on-year, at 13.3% of revenues, or €2,983 million, within the range targeted for 2025.
Organic free cash flow1 (in millions of euros)
Organic free cash flow generation totaled €1,949 million, in line with the target of “around €1.9 billion” for 2025.
Normalized earnings per share (in euros)
Normalized net profit is equal to profit for the year (Group share) adjusted for the impact of items recognized in “Other operating income and expenses,” net of tax calculated using the effective tax rate. Normalized earnings per share is computed like basic earnings per share, i.e., excluding dilution.