Report
Andrew Lange
EUR 101.80 For Business Accounts Only

Dassault Reports Good End to Fiscal 2016; Healthy Midterm EPS Growth Expected, Shares Overvalued

Dassault reported a good end to fiscal 2016 with healthy sales across the firm’s major brands. Although CATIA’s performance was the weakest of the major brands, the result reflected users shifting from V5 to Dassault’s newer V6, or 3DExperience platform, and doesn’t reflect any structural weakness for the firm’s flagship product. In fact, we very much like Dassault’s industry position and believe it’s wide economic rating remains as relevant as ever. Management provided a new fiscal 2017 outlook...
Underlying
Dassault Systemes SA

Dassault Systemes provides software products & consulting services. Co.'s software applications allow businesses to digitally define, simulate products, the processes & resources required to manufacture, maintain & recycle them. Co. also provides services, principally to large customers. These services comprise mainly consulting services in methodology for design, deployment & support, training services & engineering services. Co.'s activities can be divided into two segments: the PLM market supports product development, production, maintenance & lifecycle management; & the Mainstream 3D market, which is primarily focused on product design.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Lange

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