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Dassault Systèmes SE (DSY) Fair Value & Analysis

Technology · FR · Market cap €23.5B

DS Dassault Systèmes SE DSY · PA
Price€21.73
Fair Value€18.20
Upside-16.2%
Quality65/100
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Healthy Growth
Solidly profitable · 19.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/15)
Wide moat 74/100
Evidence: High Range €13.65 – €22.75 Share as image

Fair value as of: Jul 20, 2026

From 26 valuation models · updated 18 days ago

Fair value updated Jul 20, 2026, revised from €18.21 to €18.20 (−0.1%) since Jul 15, 2026. Share price +16.5% over the past month.

A solid business, but screening 16% overvalued on our models.

What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from €13.65 (bear) to €22.75 (bull), base €18.20. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 65/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€54.19 €15.75 Fair Value €18.20 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range €15.75 – €54.19 · fair‑value band €13.65 – €22.75 · the €21.73 price screens above the €18.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

Dassault Systèmes SE (DSY) currently trades at €21.73, while our model-based Fair Value estimate is €18.20, implying the stock looks roughly 16.2% overvalued today. We read business quality at 65/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Dassault Systèmes SE generated revenue of €6.2B at a net margin of 19.9%. Revenue declined 4.1% year over year. It earns a return on equity of 13.4%. The balance sheet holds a net cash position of €956M. Fundamentals as of Jul 20, 2026

Our scenario range runs from €13.65 (bear case) to €22.75 (bull case); at €21.73, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -16%, DSY screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €15.95 €25.01 €39.74 80
Residual Income €6.46 €8.12 €19.78 76
Rev-Margin DCF €12.19 €18.17 €25.55 74
All 26 models by family
DCF Models
FCF DCF €15.90 €25.37 €40.93 38
Owner Earnings €16.89 €27.05 €43.75 31
5Y Revenue Exit €12.19 €18.17 €25.94 39
5Y EBITDA Exit €15.32 €24.35 €35.28 41
5Y P/E Exit €15.07 €23.86 €33.52 38
10Y Revenue Exit €13.09 €19.05 €27.47 36
10Y EBITDA Exit €15.40 €23.47 €34.98 37
10Y P/E Exit €15.24 €23.13 €33.56 35
Earnings-Based
Graham-Dodd €6.19 €24.56 €33.37 54
Lynch FV €6.08 €8.69 €11.30 50
PEG = 1.0 €6.08 €8.69 €11.30 46
EPV €10.12 €11.43 €12.57 59
Dividend Discount
Gordon GGM €2.39 €4.98 €7.90 70
DDM Multi-Stage €2.39 €4.20 €5.22 61
Multiples
P/E Multiple €13.65 €18.20 €22.75 63
P/S Multiple €8.90 €11.86 €14.83 58
P/B Multiple €11.61 €15.47 €19.34 55
EV/EBIT €16.18 €20.82 €25.46 53
EV/EBITDA €16.33 €21.02 €25.70 54
EV/Revenue €10.57 €14.13 €17.69 43
Asset-Based
NCAV (Graham) €3.35 €4.48 €6.69 50
Growth DCF
Growth DCF €15.95 €25.01 €39.74 80
Rev-Margin DCF €12.19 €18.17 €25.55 74
Economic Profit
Residual Income €6.46 €8.12 €19.78 76
ROIC Compounder €10.98 €13.80 €17.40 72
Growth Earnings
Growth-Adj P/E €10.45 €14.93 €19.41 68

Widest divergence: DCF Models (€23.47) versus Dividend Discount (€4.20). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €6.2B
Revenue growth (YoY) -4.1%
Net margin 19.9%
Return on equity 13.4%
Free cash flow €1.5B FY2025
P/E ratio 20.4
More key figures
Operating margin 23.4%
EPS (TTM) €0.9200
EPS growth (YoY) +10.8%
Net cash €956M FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 74 · Market factors (momentum, volatility) 41

Profitability 55
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Dassault Systèmes SE provides software solutions and services worldwide. The company offers 3D modeling applications, such as SOLIDWORKS, CATIA, GEOVIA, and BIOVIA; social and collaborative applications, including 3DEXCITE, CENTRIC PLM, and ENOVIA; and simulation applications comprising SIMULIA, DELMIA, 3DVIA.

Full company description

Dassault Systèmes SE provides software solutions and services worldwide. The company offers 3D modeling applications, such as SOLIDWORKS, CATIA, GEOVIA, and BIOVIA; social and collaborative applications, including 3DEXCITE, CENTRIC PLM, and ENOVIA; and simulation applications comprising SIMULIA, DELMIA, 3DVIA. It also provides information intelligence applications consisting of NETVIBES and MEDIDATA; and OUTSCALE, an infrastructure for business experiences, as well as 3DEXPERIENCE platform, a business and innovation platform that provides organizations with a holistic and real-time vision of their business activity and ecosystem. The company distributes its products through direct and indirect sales channels, as well as commercial partners. It primarily serves companies in the aerospace and defense; architecture, engineering and construction; business services; cities and public services; consumer packaged goods " retail; high-tech; home and lifestyle; industrial equipment; infrastructure, energy, and materials; life sciences and healthcare; marine and offshore; and transportation & mobility industries. The company was incorporated in 1981 and is headquartered in Vélizy-Villacoublay, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dassault Systèmes SE reported revenue of €6.2B in FY2025 versus €4.9B in FY2021, a compound +6.4%/yr. Reported net income was €1.2B in FY2025, compounding +11.5%/yr from FY2021.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€6.2B
Latest YoY
+0.4%
Avg. growth/yr (3Y)
+3.2%
Avg. growth/yr (5Y)
+7.0%
Avg. growth/yr (29Y)
+12.3%
Revenue +6.4%/yr
FY21 €4.9B
FY22 €5.7B
FY23 €6.0B
FY24 €6.2B
FY25 €6.2B
Net income +11.5%/yr
FY21 €774M
FY22 €932M
FY23 €1.1B
FY24 €1.2B
FY25 €1.2B

DSY screens 16% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Dassault Systèmes SE Fair Value". https://www.fairvalue-calculator.com/stock/DSY

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Software - Application · 709 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Top 25%
Fair Value upside −16% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth -4% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 19.4× · Cheaper than median
P/B 3.08× · Pricier than median
P/S (TTM) 4.39× · Pricier than 75% of peers
P/FCF 18.4× · Pricier than median
EV/EBITDA 14.4× · Cheaper than median
PEG 3.04× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 12 · sector 0
FUTURE 0 · sector 37
PAST 54 · sector 13
HEALTH 94 · sector 98
DIVIDEND 0 · sector 28

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Dassault Systèmes SE (DSY) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of €18.20 versus a price of €21.73, about −16% (overvalued).
What is the fair value of DSY?
Our model-based fair value for Dassault Systèmes SE is €18.20 (as of Jul 20, 2026), built from audited fundamentals. The current price is €21.73.
What is the quality score of DSY?
Dassault Systèmes SE has a Quality Score of 65/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Dassault Systèmes SE (DSY)?
Dassault Systèmes SE reported trailing-twelve-month revenue of about €6.2B (latest available figure, as of Jul 20, 2026).
What is the net profit margin of DSY?
The net profit margin of Dassault Systèmes SE is about 19.9%, meaning it keeps roughly 19.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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