Revenue growth in third quarter

Capgemini reported revenue of 6.073 billion euros for the third quarter of 2026, representing an increase of 12.6% in published figures and 11.7% at constant exchange rates. Order intake reached 5.401 billion euros, a 3.4% increase at constant exchange rates.

AI development drives growth

The company attributes its growth to the development of artificial intelligence (AI) projects, with customers moving from experimentation to large-scale deployment of AI. This requires modernizing information systems, organizing data, and rethinking business processes. Capgemini highlights demand for "agentive" AI, designed to automate sequences of tasks.

Growth varies by business line

Growth varies by business line, with the Strategy and Transformation business line showing an 18.6% increase at constant exchange rates in the third quarter. The Applications and Technology activities increased by 3.5%, while Operations and Engineering gained 26.9%. This last business line also benefits from the strengthening of process management activities provided by WNS.

Recent acquisitions contribute to growth

The group's growth is partly attributed to recent acquisitions, including WNS and Cloud4C, finalized at the end of 2025. Capgemini estimates these acquisitions contribute approximately five points to the expected annual growth for 2026. The overall revenue increase does not entirely correspond to organic growth of existing activities.

French market shows slower growth

In France, the market represented 1.019 billion euros in revenue for the third quarter, an increase of 4.9% year-on-year. The improvement is mainly driven by industrial companies and financial services, while demand in the French public sector remains weak. This recovery is slower than that observed in several foreign markets, with North America growing by 18.3% and the United Kingdom with Ireland by 25.2% at constant exchange rates.

Future performance targets confirmed

Capgemini confirms its forecast for operating margin, between 13.6% and 13.8%, as well as its target for organic free cash flow, between 1.8 and 1.9 billion euros. The group anticipates revenue growth of 3% to 4% at constant exchange rates in the fourth quarter, on a more challenging comparison base.

Workforce expansion and contraction

As of September 30, Capgemini's global workforce reached 417,500 people, an 18% increase year-on-year, mainly due to the integration of WNS teams. However, this number was 5,900 people lower than their level at the end of 2025, according to detailed data provided to investors.

Future challenges and results

The company's next test will be to convert the demand for AI adaptation into sustainable growth while preserving the announced profitability. The 2026 annual results are expected on February 16, 2027.