Want to see AMADY full AI Analyst Report?
Top Page
Amadeus IT Group, S.A.
(OTC:AMADY)
Select Model
Select Model
Rating:75Outperform
Price Target:
$72.00
▼(-4.00% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by strong financial performance (high margins, solid cash generation, and improved leverage). It is tempered by elevated short-term technical readings that suggest pullback risk, a valuation that is not cheap at ~24x earnings despite a ~2.9% yield, and a more cautious FY2026 outlook due to geopolitically driven booking weakness (especially in Air Distribution).
Positive Factors
Recurring dual revenue model (Distribution + Technology)
Amadeus's business combines transaction-driven distribution fees with subscription/usage contracts for mission-critical airline and hospitality IT. Long-term contracts and embedded platforms create recurring, volume-linked revenue streams and high customer stickiness, supporting predictable cash flows over months to years.
Negative Factors
Geopolitical exposure reducing bookings
Air Distribution revenue and volumes are sensitive to regional geopolitical shocks. Persistent or recurring Middle East disruption has already trimmed bookings and forced guidance caution. Given distribution is volume-driven, prolonged softness can meaningfully depress recurring transaction revenue and worsen visibility for 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring dual revenue model (Distribution + Technology)
Amadeus's business combines transaction-driven distribution fees with subscription/usage contracts for mission-critical airline and hospitality IT. Long-term contracts and embedded platforms create recurring, volume-linked revenue streams and high customer stickiness, supporting predictable cash flows over months to years.
Read all positive factors
Amadeus IT Group, S.A. (AMADY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.82B
Dividend Yield2.89%
Average Volume (3M)3.63K
Price to Earnings (P/E)24.0
Beta (1Y)0.71
Revenue Growth11.30%
EPS Growth7.20%
CountryUS
Employees20,605
SectorTechnology
Sector Strength88
IndustryTravel Services
Share Statistics
EPS (TTM)3.02
Shares Outstanding431,571,300
10 Day Avg. Volume2,958
30 Day Avg. Volume3,629
Financial Highlights & Ratios
PEG Ratio12.29
Price to Book (P/B)5.66
Price to Sales (P/S)4.39
P/FCF Ratio13.67
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.96
Revenue Forecast (FY)$7.86B
Amadeus IT Group, S.A. Business Overview & Revenue Model
Company Description
Amadeus IT Group, S.A. operates as a leading global technology partner and transaction facilitator for the travel and tourism sector. The company's extensive activities are organized into two core divisions: Distribution and IT Solutions. It provi...
How the Company Makes Money
Amadeus makes money mainly through two complementary revenue models: distribution fees and technology subscriptions/transaction processing. In its travel distribution business, Amadeus operates a global distribution system (GDS) and earns revenue ...
Amadeus IT Group, S.A. Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 06, 2026
Earnings Call Sentiment Neutral
The call reflects resilient H1 operational and financial performance with solid segment growth (Air IT and Hospitality), meaningful commercial wins, clear AI progress and disciplined capital allocation. However, material near-term headwinds from the Middle East geopolitical situation have reduced bookings, prompted a cautious revision to the FY outlook (notably for Air Distribution), produced one-off decommissioning costs and temporarily elevated certain costs. The company emphasizes diversification, cost discipline and a constructive pipeline, but short-term visibility remains limited.Positive Updates
Solid H1 Financial Results
Revenue of EUR 3,335 million (+5% at constant currency; +2% reported). Adjusted EBIT of EUR 1,012 million (+5% cc; +4% reported). Adjusted diluted EPS increased 7% at constant currency. Diluted EPS EUR 1.64 (+1% reported). Free cash flow EUR 472.2 million (~+0.8–1% YoY).
Negative Updates
Geopolitical Impact on Air Traffic and Bookings
Since March, the geopolitical situation in the Middle East materially moderated volumes: IATA announced negative growth in April and May (first time in 15 years excluding COVID). Amadeus bookings declined (Amadeus bookings down 3.7% in H1 for the Air Distribution segment); Q2 experienced pronounced weakness with cancellations and lower new bookings. Company revised near-term assumptions and noted continued unpredictability.
Read all updates
Q2-2026 Updates
Positive
Negative
Solid H1 Financial Results
Revenue of EUR 3,335 million (+5% at constant currency; +2% reported). Adjusted EBIT of EUR 1,012 million (+5% cc; +4% reported). Adjusted diluted EPS increased 7% at constant currency. Diluted EPS EUR 1.64 (+1% reported). Free cash flow EUR 472.2 million (~+0.8–1% YoY).
Read all positive updates
Company Guidance
Amadeus prudently widened its FY‑2026 outlook given Middle East‑driven booking weakness, now targeting group revenue growth of mid‑ to high‑single digits, adjusted diluted EPS growth of high‑single to low‑double digits, and free cash flow of EUR 1.35–1.45 billion; by segment it reconfirms Air IT Solutions revenue in the high‑single‑digit range, Hospitality & Other Solutions in the low‑double‑digit range, and Air Distribution in the low‑ to mid‑single‑digit range, while expecting stable adjusted EBIT margin (slightly dilutive for Air IT, expansion in Hospitality, stable for Air Distribution) and a solid unitary revenue evolution. In H1 Amadeus delivered revenue of EUR 3,335m (+5% cc), adjusted EBIT EUR 1,012m (+5% cc), adjusted diluted EPS +7% cc, free cash flow EUR 472.2m, R&D spend EUR 682m (20% of revenue), net debt EUR 2,578m (1.0x net debt/EBITDA), completed a EUR 500m share buyback, and recorded H1 capex ~9.8% of revenue with FY capex expected toward the lower end of its low‑double‑digit guidance.Amadeus IT Group, S.A. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.58B | 6.26B | 6.14B | 5.44B | 4.49B | 2.67B |
| Gross Profit | 2.72B | 2.05B | 2.65B | 2.41B | 1.87B | 834.90M |
| EBITDA | 2.53B | 2.39B | 2.35B | 2.13B | 1.55B | 575.90M |
| Net Income | 1.31B | 1.28B | 1.25B | 1.12B | 664.40M | -142.40M |
Balance Sheet | ||||||
| Total Assets | 11.76B | 11.47B | 11.78B | 10.80B | 11.71B | 11.18B |
| Cash, Cash Equivalents and Short-Term Investments | 976.00M | 986.80M | 1.13B | 1.06B | 1.99B | 1.82B |
| Total Debt | 3.60B | 3.22B | 3.38B | 3.31B | 4.41B | 4.98B |
| Total Liabilities | 7.17B | 6.62B | 6.72B | 6.31B | 7.13B | 7.44B |
| Stockholders Equity | 4.57B | 4.85B | 5.06B | 4.48B | 4.58B | 3.75B |
Cash Flow | ||||||
| Free Cash Flow | 1.76B | 2.01B | 1.36B | 1.19B | 874.10M | 176.10M |
| Operating Cash Flow | 2.16B | 2.07B | 2.15B | 1.79B | 1.44B | 636.30M |
| Investing Cash Flow | -807.03M | -773.81M | -1.15B | 4.50M | -493.30M | -205.50M |
| Financing Cash Flow | -1.61B | -1.35B | -990.10M | -2.19B | -640.10M | -865.80M |
Amadeus IT Group, S.A. Technical Analysis
Positive
75.00
Price Trends
59.35
Positive
58.63
Positive
63.59
Positive
Market Momentum
1.78
Negative
67.92
Neutral
94.45
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMADY, the sentiment is Positive. The current price of 75 is above the 20-day moving average (MA) of 59.34, above the 50-day MA of 59.35, and above the 200-day MA of 63.59, indicating a bullish trend. The MACD of 1.78 indicates Negative momentum. The RSI at 67.92 is Neutral, neither overbought nor oversold. The STOCH value of 94.45 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMADY.
Amadeus IT Group, S.A. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $35.38B | 24.58 | 184.84% | 0.68% | 10.01% | 33.63% | |
75 Outperform | $24.82B | 24.03 | 26.71% | 1.55% | 11.30% | 7.20% | |
73 Outperform | $30.35B | 6.56 | 19.31% | ― | 19.28% | 87.04% | |
73 Outperform | $149.47B | 25.30 | -96.70% | 0.91% | 14.95% | 17.45% | |
65 Neutral | $731.33M | 1.48 | -40.79% | ― | -6.42% | ― | |
62 Neutral | $5.36B | 114.61 | -14.56% | ― | 6.71% | -41.74% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
AMADY
Amadeus IT Group, S.A.
65.15
-16.17
-19.89%
TCOM
Trip.com Group Sponsored ADR
46.24
-15.92
-25.61%
EXPE
Expedia
306.57
120.43
64.70%
MMYT
Makemytrip
60.05
-35.51
-37.16%
BKNG
Booking Holdings
207.39
-8.07
-3.75%
SABR
Sabre
2.24
0.31
16.06%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.