Quick Take: Dassault Systèmes - quarter-end briefing feedback

研报英文原文证据摘录

Quick Take: Dassault Systèmes - quarter-end briefing feedback

17 June 2026

Derric Marcon

+33 1 58 98 06 30

European Technology/Software derric.marcon@bernsteinsg.com

Dassault Systèmes Richard Nguyen

+33 1 42 13 54 22

Rating richard.nguyen@bernsteinsg.com

Outperform Specialist Sales

Price Target Kiran Shah, CFA

+44 20 3547 1533

DSY.FP 29.00 EUR kiran.shah@bernsteinsg.com

We regularly hold calls with companies towards the end of each quarter, making sure we are

Close Date 15 Jun 2026

up-to-date with their latest communications ahead of any ‘quiet period’. We always comment

DSY.FP Close Price (EUR) 17.38

on these discussions soon after holding the calls, even if they are simply a reiteration of

Price Target (EUR) 29.00

previous messages. On Tuesday, we held a call with DSY. The company reiterated the guidance

Upside/(Downside) 67%

it gave for 2Q26 and FY26. The group will publish its 2Q26 sales on 23 July.

52-Week Range 33.16/15.83

Business environment. The group has not observed any significant changes in the business EDME 1,577.98

climate, positive or negative, compared to previous quarters. Early signs of a de-escalation FYE Dec

in the Middle East in the coming days/weeks partially mitigate the risk of volatility until Div Yield 1.6%

the end of the quarter ending in June, as buyers are more inclined to sign contracts under Market Cap (EUR) (M) 23,339

these conditions relative to a no-de-escalation scenario. DSY's perception of the economic EV (EUR) (M) 20,949

environment is consistent with the macroeconomic indices (PMIs) already available for April Performance YTD 1M 6M 12M

and May (the June flash PMI has not yet been published). Absolute (%) (27.1) (12.8) (26.4) (45.1)

EDME (%) 7.3 5.0 9.5 17.5

Competitive landscape.