Keyrus SA (ALKEY) AI Stock Analysis

• Market Cap: €115.61M
• Dividend Yield: N/A
• Average Volume (3M): 1.43K
• Price to Earnings (P/E): 8.5
• Beta (1Y): 0.25
• Revenue Growth: -4.16%
• EPS Growth: N/A
• Country: FR
• Employees: 3,023
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.68
• Shares Outstanding: 17,277,870
• 10 Day Avg. Volume: 1,442
• 30 Day Avg. Volume: 1,430
• PEG Ratio: -4.41
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 0.34
• P/FCF Ratio: 8.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: €9.00 ▲(17.80% Upside)
• Action: Reiterated Date: 01/24/26
• Date: Action: Reiterated 01/24/26

The score is held back primarily by weakening financial performance (declining revenue, very thin profitability, and high leverage with softening free cash flow). Technicals are moderately supportive with the stock above major moving averages, and valuation looks reasonable on a sub-10 P/E, but not enough to offset the fundamental pressures.

Positive Factors

Diversified consulting and subscription revenue model

A mix of project-based fees, recurring service contracts and subscription offerings provides revenue diversification and more predictable cash streams. This model supports resilience across cycles, smoothing revenue volatility and enabling long-term client relationships and upsell opportunities.

Partnerships with major technology vendors

Strategic alliances with large tech vendors extend Keyrus’s capabilities, broaden market access and accelerate solution delivery. Such partnerships create durable go-to-market leverage, improve competitive positioning and can lower sales costs while enhancing win rates on large digital transformation projects.

Stable equity ratio despite pressures

Maintaining a stable equity ratio amid operational pressure suggests some balance-sheet resilience and shareholder capital buffer. This stability can help absorb shocks, support access to financing and provide time to execute restructuring or growth plans without immediate solvency stress.

Negative Factors

Declining revenue trend

Sustained revenue decline undermines scalability and erodes bargaining power with clients and vendors. Over several quarters this reduces operating leverage, constrains reinvestment in product and talent, and makes it harder to restore margins or fund strategic initiatives without external capital.

Very thin profitability and weakening margins

Extremely low net margins and falling gross/EBITDA margins limit internal reinvestment and reduce the firm’s ability to absorb cost shocks. Persistent margin compression threatens long-term competitiveness, reduces earnings quality, and heightens reliance on efficiency programs or higher-margin service shifts.

Weakening free cash flow generation

Declining free cash flow limits capacity to fund capex, pay down debt or return capital to shareholders. Over time weak cash conversion raises refinancing risk, constrains strategic investments in products and talent, and reduces flexibility to navigate downturns or pursue inorganic growth.

Keyrus SA Business Overview & Revenue Model

Company Description

Keyrus S.A., a consultancy company, develops data and digital solutions for performance management worldwide. The company offers automation and artificial intelligence, human-centric digital experience, data and analytics enablement, cloud and security, and business transformation and innovation services. It serves agriculture, banking, construction, consulting, CPG, energy, finance, food and beverage, healthcare, insurance, IT services, life sciences, logistics and manufacturing, media and entertainment, public administration, retail, software, telecom, and utilities industries. The company was founded in 1996 and is headquartered in Levallois-Perret, France.

How the Company Makes Money

Keyrus generates revenue primarily through consulting services related to data analytics, business intelligence, and digital transformation projects. The company's revenue model includes project-based fees, ongoing service contracts, and subscription-based offerings for its technological solutions. Key revenue streams include advisory services, implementation of data management tools, and software licenses. Additionally, Keyrus often partners with major technology vendors to enhance its service offerings, which can lead to shared revenue opportunities and increased market reach. The company's ability to adapt to evolving technology trends and maintain strong client relationships also significantly contributes to its earnings.

Keyrus SA Financial Statement Overview

Summary

Financials are pressured by declining revenue (-1.96%), sharply weaker margins (net margin ~0.08% with lower EBIT/EBITDA margins), and elevated leverage (high debt-to-equity). Cash generation is also weakening with declining free cash flow growth, partially offset by a stable equity ratio.

Income Statement

Keyrus SA's income statement shows a declining trend in revenue with a negative growth rate of -1.96% in the latest year. The gross profit margin has decreased significantly, indicating potential challenges in cost management or pricing strategy. The net profit margin is very low at 0.08%, reflecting limited profitability. EBIT and EBITDA margins have also decreased, suggesting reduced operational efficiency.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage which could pose financial risks. However, the company has managed to maintain a stable equity ratio. Return on equity has decreased, reflecting reduced profitability from shareholders' investments.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, which is concerning for future investments and debt repayments. The operating cash flow to net income ratio is not available, but the free cash flow to net income ratio suggests that cash generation from operations is not robust.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	354.60M	370.34M	351.89M	289.19M	260.93M
Gross Profit	23.81M	28.69M	27.73M	20.15M	23.28M
EBITDA	8.00M	22.25M	23.95M	23.08M	18.76M
Net Income	300.00K	3.48M	3.83M	3.98M	-478.00K
Balance Sheet
Total Assets	334.05M	341.77M	354.23M	316.89M	321.56M
Cash, Cash Equivalents and Short-Term Investments	46.33M	52.83M	62.20M	48.52M	61.89M
Total Debt	99.37M	114.86M	120.94M	102.86M	134.05M
Total Liabilities	276.13M	293.52M	308.19M	271.16M	274.56M
Stockholders Equity	52.16M	44.17M	40.30M	38.89M	40.65M
Cash Flow
Free Cash Flow	14.23M	19.70M	16.95M	9.02M	47.88M
Operating Cash Flow	17.27M	21.47M	19.86M	11.85M	51.94M
Investing Cash Flow	-3.98M	-6.71M	-12.57M	-5.17M	-12.76M
Financing Cash Flow	-20.43M	-23.87M	7.00M	-20.91M	-6.58M

Keyrus SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALKEY, the sentiment is Negative. The current price of 7.64 is below the 20-day moving average (MA) of 7.82, below the 50-day MA of 7.95, and below the 200-day MA of 7.80, indicating a bearish trend. The MACD of -0.20 indicates Positive momentum. The RSI at 29.00 is Positive, neither overbought nor oversold. The STOCH value of 0.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALKEY.

Keyrus SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALITL	71 Outperform	€26.61M	7.64	―	2.30%	6.88%	8.71%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ALKEY	57 Neutral	€115.61M	8.49	―	―	-4.16%	―
S30	49 Neutral	€93.99M	-3.52	-30.10%	―	-10.35%	-87.52%