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Technip Energies NV
(TE)
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Rating:66Neutral
Price Target:
€32.00
▼(-6.87% Downside)
Action:Reiterated
Date:08/01/26
Overall score reflects strong financial performance (especially cash flow) and supportive valuation, partially offset by weak technical trend (price below key moving averages) and a cautious earnings outlook due to reduced Project Delivery margin guidance and disruption-related cost uncertainty, despite a very strong backlog and cash position.
Positive Factors
Free cash flow conversion & liquidity
High and well-defined free cash flow conversion targets (70–85%) and H1 ex‑WC conversion of 86%, combined with record gross cash EUR 4.8bn and economic net cash >€900m, imply durable cash generation. This supports capex, claims funding and shareholder returns across multi-year projects.
Negative Factors
Project Delivery margin pressure
Project Delivery is the group's largest revenue engine; a sustained margin reset to low single digits materially compresses group profitability. Given PD's scale, prolonged margin weakness from disputed items and execution headwinds can depress returns and limit reinvestment capacity for multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow conversion & liquidity
High and well-defined free cash flow conversion targets (70–85%) and H1 ex‑WC conversion of 86%, combined with record gross cash EUR 4.8bn and economic net cash >€900m, imply durable cash generation. This supports capex, claims funding and shareholder returns across multi-year projects.
Read all positive factors
Technip Energies NV (TE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€5.28B
Dividend Yield3.34%
Average Volume (3M)304.55K
Price to Earnings (P/E)11.9
Beta (1Y)0.88
Revenue Growth2.03%
EPS Growth-31.28%
CountryFR
Employees18,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)2.51
Shares Outstanding178,378,710
10 Day Avg. Volume271,082
30 Day Avg. Volume304,552
Financial Highlights & Ratios
PEG Ratio-2.48
Price to Book (P/B)2.60
Price to Sales (P/S)0.80
P/FCF Ratio10.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€43.56Price Target Upside26.78% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)2.21
Revenue Forecast (FY)€8.01B
Technip Energies NV Business Overview & Revenue Model
Company Description
Technip Energies N.V., operating globally with its various subsidiaries, functions as a specialized engineering and technology firm dedicated to advancing the energy transition. Its reach extends across Europe, Russia, the Asia Pacific, Africa, th...
How the Company Makes Money
Technip Energies primarily makes money by delivering contracted project and engineering services and by providing proprietary technologies and related services to clients in the energy and chemicals value chain.
1) Project execution (engineering/...
Technip Energies NV Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presented a mixed but constructive picture: significant operational and profitability headwinds driven by the Middle East conflict materially compressed H1 EBITDA and forced a prudent reset of Project Delivery margin guidance. Offsetting that near-term weakness were exceptional commercial results (EUR 12.7bn orders, backlog EUR 25bn), a record cash position (EUR 4.8bn), strong free cash conversion (86% ex-WC), completed shareholder returns (EUR 150m buyback, dividend) and resilient TPS margins. Management emphasized contractual protections, ongoing cost-recovery negotiations, and confidence in a meaningful recovery in Project Delivery margins from 2027, which together with the high-quality backlog and strong balance sheet underpin a constructive medium-term outlook.Positive Updates
Record Order Intake and Backlog Expansion
Exceptional H1 order intake of EUR 12.7 billion (book-to-bill 3.4), driving group backlog to a record EUR 25 billion (up >50% year-to-date), equivalent to ~3x full year revenue and providing strong medium-term visibility.
Negative Updates
Material Profitability Impact from Middle East Disruption
Group reported EBITDA materially lower at EUR 212 million; recurring EBITDA reduced ~1/3 year-over-year. Project Delivery adjusted recurring EBITDA declined 45% YoY to EUR 118 million, with Project Delivery recurring EBITDA margin down to 4.3% (a 350 basis point decline).
Read all updates
Q2-2026 Updates
Positive
Negative
Record Order Intake and Backlog Expansion
Exceptional H1 order intake of EUR 12.7 billion (book-to-bill 3.4), driving group backlog to a record EUR 25 billion (up >50% year-to-date), equivalent to ~3x full year revenue and providing strong medium-term visibility.
Read all positive updates
Company Guidance
Technip Energies revised 2026 guidance is deliberately prudent, assuming current Middle East operating conditions persist through H2: Project Delivery margin guidance is reduced to "5% plus" (H1 PD recurring EBITDA was EUR 118m with a 4.3% margin), while TPS margin guidance is raised by 50 basis points and revenue guidance is maintained; the group now expects an effective tax rate of 30–32% and corporate costs of EUR 65–70m for 2026. Management targets free cash flow conversion of 70–85% for the year (H1 FCF EUR 183m; H1 conversion ex-WC/provisions 86%), is pursuing contractual cost recovery (some clients have signed cost coverage but those revenues are booked at cost and dilute margins), and sees potential sequential improvement in H2 with a meaningful recovery in 2027. The guidance is underpinned by strong commercial and balance-sheet metrics: H1 order intake EUR 12.7bn, backlog EUR 25bn (PD backlog ~EUR 23.5bn), gross cash EUR 4.8bn and economic net cash >EUR 900m, plus completed EUR 150m buyback and planned ~EUR 300m total capital returns in 2026.Technip Energies NV Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
66
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.98B | 7.20B | 6.72B | 6.00B | 6.28B | 6.43B |
| Gross Profit | 660.50M | 964.20M | 918.10M | 923.20M | 884.30M | 912.30M |
| EBITDA | 357.10M | 585.70M | 702.40M | 606.20M | 593.50M | 524.70M |
| Net Income | 445.10M | 363.70M | 390.70M | 296.80M | 300.70M | 244.60M |
Balance Sheet | ||||||
| Total Assets | 10.50B | 9.80B | 9.24B | 8.67B | 8.69B | 8.38B |
| Cash, Cash Equivalents and Short-Term Investments | 4.49B | 3.69B | 3.85B | 3.37B | 3.48B | 3.64B |
| Total Debt | 1.63B | 1.24B | 980.70M | 993.40M | 986.20M | 989.10M |
| Total Liabilities | 8.44B | 7.53B | 7.13B | 6.72B | 6.96B | 6.87B |
| Stockholders Equity | 2.06B | 2.23B | 2.08B | 1.89B | 1.71B | 1.48B |
Cash Flow | ||||||
| Free Cash Flow | 1.32B | 571.50M | 760.60M | 330.40M | 137.70M | 884.80M |
| Operating Cash Flow | 1.45B | 660.90M | 845.20M | 378.80M | 184.40M | 934.40M |
| Investing Cash Flow | -622.70M | -615.40M | -97.50M | -108.00M | -57.60M | -53.00M |
| Financing Cash Flow | -19.30M | -69.20M | -364.80M | -319.00M | -396.30M | -558.60M |
Technip Energies NV Technical Analysis
Negative
34.36
Price Trends
34.14
Negative
35.18
Negative
34.03
Negative
Market Momentum
-0.97
Positive
27.97
Positive
34.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TE, the sentiment is Negative. The current price of 34.36 is above the 20-day moving average (MA) of 33.03, above the 50-day MA of 34.14, and above the 200-day MA of 34.03, indicating a bearish trend. The MACD of -0.97 indicates Positive momentum. The RSI at 27.97 is Positive, neither overbought nor oversold. The STOCH value of 34.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | €7.22B | 16.34 | 76.00% | 4.58% | 9.02% | 24.12% | |
78 Outperform | €170.58B | 10.95 | 14.76% | 4.48% | -2.24% | 34.37% | |
66 Neutral | €5.28B | 11.91 | ― | 2.91% | 2.03% | -31.28% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | €668.39M | 13.31 | 8.30% | ― | -9.01% | ― | |
52 Neutral | €5.87M | -2.45 | -116.61% | ― | 4.64% | 22.28% |
* Energy Sector Average
FR:TE
Technip Energies NV
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Technip Energies NV Corporate Events
Technip Energies Files and Publishes 2026 Half-Year Report
Jul 30, 2026
Technip Energies has published its 2026 Half-Year Report, making the document available to investors through its website after filing it with market regulators in the Netherlands and France. The release underlines transparency around the company&#...
Technip Energies Balances Middle East Margin Hit With Record Order Backlog
Jul 30, 2026
Technip Energies reported a challenging first half of 2026, as revenue remained broadly stable at about €3.7 billion but recurring EBITDA fell to €212 million and margins were compressed by operational and contractual disruptions linke...
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.