Technip Energies NV (FR:TE)
:TE
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Technip Energies NV
(TE)
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Rating:69Neutral
Price Target:
€44.00
▲(12.42% Upside)
Action:Downgraded
Date:02/27/26
The score is driven primarily by decent underlying financial quality but mixed near-term fundamentals (2025 revenue decline, higher debt, and lower free cash flow). Technicals are supportive of an uptrend but appear overbought, tempering the outlook. Valuation is reasonable for the metrics provided, and the latest earnings call added support via constructive 2026 guidance, an accretive acquisition, and stepped-up shareholder returns despite backlog/timing and cash-flow volatility risks.
Positive Factors
Cash generation
Consistently strong free cash flow and very high cash conversion (>90% recurring EBITDA conversion) provide durable self-funding for capex, dividends, buybacks and bolt-on M&A. This long-term cash muscle reduces reliance on markets when project timing is lumpy and supports strategic optionality.
Negative Factors
TPS revenue & backlog decline
A decline in TPS — the higher-margin, recurring business — weakens long-term revenue stability and margin resilience. With book-to-bill at 0.84, TPS award pace did not replace revenue, reducing predictability of future high-margin cash flows and increasing exposure to EPC cyclicality.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistently strong free cash flow and very high cash conversion (>90% recurring EBITDA conversion) provide durable self-funding for capex, dividends, buybacks and bolt-on M&A. This long-term cash muscle reduces reliance on markets when project timing is lumpy and supports strategic optionality.
Read all positive factors
Technip Energies NV (TE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€6.47B
Dividend Yield2.64%
Average Volume (3M)304.55K
Price to Earnings (P/E)19.0
Beta (1Y)0.95
Revenue Growth7.22%
EPS Growth-6.61%
CountryFR
Employees17,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)2.52
Shares Outstanding178,378,710
10 Day Avg. Volume271,082
30 Day Avg. Volume304,552
Financial Highlights & Ratios
PEG Ratio-2.07
Price to Book (P/B)2.55
Price to Sales (P/S)0.80
P/FCF Ratio11.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€43.39Price Target Upside10.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)2.45
Revenue Forecast (FY)€8.10B
Technip Energies NV Business Overview & Revenue Model
Company Description
Technip Energies N.V., together with its subsidiaries, operates as an engineering and technology company for the energy transition in Europe, Russia, the Asia Pacific, Africa, the Middle East, and the Americas. The company operates through two seg...
How the Company Makes Money
Technip Energies primarily makes money by delivering engineered projects and associated services under customer contracts, and by providing technology and consulting-style services tied to those projects.
1) Project execution revenue (EPC / EPCI ...
Technip Energies NV Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial positives: record revenue and recurring EBITDA growth, high free cash flow and conversion metrics, improved TPS margins, a major LNG award (NFW) that enhances medium-term visibility, and an accretive acquisition (AM&C) to strengthen TPS recurring revenue. Offsetting risks include lower TPS revenues and backlog shrinkage, project backlog timing shifts, a decline in net financial income, working capital timing volatility, and slower pockets of decarbonization activity due to policy/offtake uncertainty. On balance, the highlights — notably growth, cash generation, strategic acquisition, and major contract awards — materially outweigh the lowlights.Positive Updates
Record Revenue and Recurring EBITDA Growth
Revenue reached EUR 7.2 billion, up 5% year-over-year, and recurring EBITDA rose 5% to EUR 638 million. EPS (excluding nonrecurring items) increased ~4% year-over-year.
Negative Updates
TPS Revenue Decline and Backlog Reduction
TPS revenues fell ~9% year-over-year and TPS backlog declined to just over EUR 1.5 billion. Book-to-bill for TPS was 0.84, indicating awards in the period did not fully replace revenues; backlog remains understated by PMC call-offs but still downward.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and Recurring EBITDA Growth
Revenue reached EUR 7.2 billion, up 5% year-over-year, and recurring EBITDA rose 5% to EUR 638 million. EPS (excluding nonrecurring items) increased ~4% year-over-year.
Read all positive updates
Company Guidance
For 2026 management guided project delivery revenues of EUR 6.3–6.7 billion with an EBITDA margin of ~8% and Technology, Products & Services revenues of EUR 2.0–2.2 billion with a 14.5% EBITDA margin (this reflects a full-year contribution from the AM&C acquisition, which is expected to add >EUR 200 million of revenue in 2026 at ~25% EBITDA); other assumptions (effective tax rate, corporate costs) are consistent with FY‑2025, and the group has earmarked up to EUR 50 million for adjacent investments (eg, Reju, with a possible FID by end‑2026). Management reiterated its 2028 ambition of EUR 800m+ EBITDA, kept a dividend policy of distributing 25–35% of recurring free cash flow (the proposed EUR 1.00/share dividend is +18% and implies a ~30% payout), and announced a EUR 150m share buyback (targeting ~EUR 300m returned to shareholders in 2026, ~5% of market cap). Balance‑sheet and cash assumptions underpinning guidance include project‑adjusted net cash of ~EUR 1.0 billion, >EUR 3.8 billion gross cash, ~EUR 1.0 billion gross debt, FY‑2025 revenue EUR 7.2 billion, recurring EBITDA EUR 638 million, recurring free cash flow (ex‑nonrecurring) ~EUR 578 million (or EUR 497 million excluding working capital and provisions), cash conversion ~78% inclusive of nonrecurring items and >90% when adjusted, a modest working capital inflow of EUR 22 million, and capex around EUR 89 million (~1% of revenues).Technip Energies NV Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.99B | 7.20B | 6.72B | 6.00B | 6.28B | 6.43B |
| Gross Profit | 1.16B | 964.20M | 918.10M | 923.20M | 884.30M | 912.30M |
| EBITDA | 619.50M | 445.60M | 702.40M | 606.20M | 593.50M | 524.70M |
| Net Income | 448.20M | 363.70M | 390.70M | 296.80M | 300.70M | 244.60M |
Balance Sheet | ||||||
| Total Assets | 10.18B | 9.80B | 9.24B | 8.67B | 8.69B | 8.38B |
| Cash, Cash Equivalents and Short-Term Investments | 4.17B | 3.64B | 3.85B | 3.37B | 3.48B | 3.64B |
| Total Debt | 1.25B | 1.44B | 980.70M | 993.40M | 986.20M | 989.10M |
| Total Liabilities | 7.82B | 7.53B | 7.13B | 6.72B | 6.96B | 6.87B |
| Stockholders Equity | 2.32B | 2.27B | 2.08B | 1.89B | 1.71B | 1.48B |
Cash Flow | ||||||
| Free Cash Flow | 912.30M | 518.90M | 760.60M | 330.40M | 137.70M | 884.80M |
| Operating Cash Flow | 1.02B | 608.30M | 845.20M | 378.80M | 184.40M | 934.40M |
| Investing Cash Flow | -584.80M | -590.40M | -97.50M | -108.00M | -57.60M | -53.00M |
| Financing Cash Flow | -172.60M | -44.90M | -364.80M | -319.00M | -396.30M | -558.60M |
Technip Energies NV Technical Analysis
Positive
39.14
Price Trends
36.14
Positive
34.27
Positive
35.23
Positive
Market Momentum
-0.30
Positive
49.88
Neutral
32.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TE, the sentiment is Positive. The current price of 39.14 is above the 20-day moving average (MA) of 37.10, above the 50-day MA of 36.14, and above the 200-day MA of 35.23, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 49.88 is Neutral, neither overbought nor oversold. The STOCH value of 32.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:TE.
Technip Energies NV Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | €7.55B | 14.03 | 77.67% | 4.99% | 25.20% | 18.77% | |
73 Outperform | €175.13B | 8.58 | 12.75% | 5.87% | -11.10% | 5.79% | |
69 Neutral | €6.47B | 18.99 | ― | 2.64% | 7.22% | -6.61% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | €825.58M | -30.77 | -0.50% | ― | -23.21% | 233.54% | |
52 Neutral | €6.07M | -1.60 | -93.86% | ― | 4.64% | 22.28% |
* Energy Sector Average
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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.