olivLaw · European equity research
Planisware PLNW.PA
France · Euronext Paris · ISIN FR001400PFU4 · Vertical: Listed companies from France
Planisware is a French SaaS software publisher for project and portfolio management, serving enterprise and government clients. The company combines organic growth with niche acquisitions, which makes it relevant for investors following consolidation in B2B software.
At the close of 05 Nov 2026, Planisware (PLNW.PA) stock was 25.25 EUR (−3.44% on the day), with market capitalisation 1.8 bn EUR, P/E 35.6 on diluted EPS of 0.71 EUR over the last 12 months, dividend yield 1.23%, beta 0.73, 52-week range 13.96–27.95 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 44.5
- weak (30–45)
- Bollinger (20, 2)
- 24.84 – 28.07
- in the lower half of the band · %B 0.13 · band width 12.2%
- SMA 50 / 200
- 25.03 / 20.37
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.29 / 0.55
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.4% | −0.6% | +1.0 pp | — |
| 3 months | +4.1% | −4.2% | +8.3 pp | — |
| 6 months | +40.3% | +4.3% | +35.9 pp | — |
| Year to date | +7.0% | +7.5% | −0.5 pp | — |
| 1 year | +28.7% | +9.9% | +18.8 pp | −6.8% |
| 3 years | unavailable | +49.8% | unavailable | −15.9% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 2-quarter history (min 33.2, median 39.7, max 46.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 156.4 m | 183.4 m | 198.0 m |
| Revenue YoY | unavailable | +17.3% | +7.9% |
| Net income | 41.8 m | 42.7 m | 50.0 m |
| Net income YoY | unavailable | +2.1% | +17.0% |
| Diluted EPS | 0.60 | 0.61 | 0.71 |
| Diluted EPS YoY | unavailable | +1.7% | +16.4% |
| net % | 26.7% | 23.3% | 25.2% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 195.7 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 214.0 m EUR
- Total assets
- 328.5 m EUR
- Debt / equity
- unavailable
- Current ratio
- 2.80x
- ROE
- 24.5%
- ROA
- 15.9%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 156.4 m | 183.4 m | 198.0 m | esef· 15 Apr 2026verified |
| Cost of revenue | 45.1 m | 50.1 m | 51.9 m | esef· 15 Apr 2026verified |
| Gross profit | 111.3 m | 133.3 m | 146.1 m | esef· 15 Apr 2026verified |
| Research & development | 20.0 m | 22.2 m | 22.3 m | esef· 15 Apr 2026verified |
| Operating income | 46.2 m | 46.1 m | 60.8 m | esef· 15 Apr 2026verified |
| Pre-tax income | 48.7 m | 51.5 m | 60.9 m | esef· 15 Apr 2026verified |
| Income tax | 6.9 m | 8.8 m | 10.9 m | esef· 15 Apr 2026verified |
| Net income | 41.8 m | 42.7 m | 50.0 m | esef· 15 Apr 2026verified |
| Diluted EPS | 0.60 | 0.61 | 0.71 | esef· 15 Apr 2026verified |
| Dividend per share | 0.23 | 0.30 | 0.31 | esef· 15 Apr 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 142.7 m | 176.2 m | 195.7 m | esef· 15 Apr 2026verified |
| Current assets | 204.1 m | 244.2 m | 270.3 m | esef· 15 Apr 2026verified |
| Property, plant & equipment, net | 4.6 m | 5.4 m | 6.8 m | esef· 15 Apr 2026verified |
| Goodwill | 21.0 m | 20.5 m | 19.3 m | esef· 15 Apr 2026verified |
| Intangibles (excl. goodwill) | 7.6 m | 8.3 m | 9.1 m | esef· 15 Apr 2026verified |
| Total assets | 255.1 m | 300.5 m | 328.5 m | esef· 15 Apr 2026verified |
| Current liabilities | 76.6 m | 88.9 m | 96.6 m | esef· 15 Apr 2026verified |
| Equity | 163.8 m | 194.9 m | 214.0 m | esef· 15 Apr 2026verified |
| Shares outstanding at year end | 68.6 m | 70.0 m | 70.4 m | esef· 15 Apr 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.8 bn EUR
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.22 – 21.16 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E7.87 – 21.16 (Mid 12.16)20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
- Dividend discount (DDM)4.22 – 5.75 (Mid 4.86)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 25.2% | 95 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.8x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | 35.6x | 17 (vs peers) | 38% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.2% | 17 (on a fixed band) | 23% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial95/100 · 1/3 factors with a value
- Returns· partial17/100 · 1/2 factors with a value
- Valuation· partial17/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PLANISWARE (PLNW.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 198.0 m EUR in 2025; YoY growth 7.9%; net margin 25.2%; ROE 24.5%.
The estimated value range is 6.05–13.45 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 8.51 EUR, the price of 25.25 EUR leaves a potential of -66.3% (value / price − 1) and a margin of safety of -196.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 25.2%
- Current ratio: 2.8x
What contradicts it
- P/E (TTM): 35.6x
- Shareholder yield (distributions): 1.2%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| PLNW.PAPlanisware | 1.8 bn | 35.6 | 24.5% | 25.2% | +7.9% | +19% / unavailable |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for PLNW.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 15.44 Total return -38% · Per year -38% | 27.26 Total return 9% · Per year 9% | 41.00 Total return 64% · Per year 64% |
| 3 years | 16.04 Total return -33% · Per year -13% | 31.76 Total return 30% · Per year 9% | 52.30 Total return 113% · Per year 29% |
| 5 years | 16.67 Total return -29% · Per year -7% | 37.01 Total return 54% · Per year 9% | 66.72 Total return 175% · Per year 22% |
- Exit P/E± 7.94
- Net margin± 5.56
- Annual revenue growth± 4.42
- Annual dilution± 0.47
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Planisware is a French SaaS software publisher for project and portfolio management, serving enterprise and government clients. The company combines organic growth with niche acquisitions, which makes it relevant for investors following consolidation in B2B software 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Transatlantic data transfershigh
The invalidation of the Privacy Shield and delays in the new framework may affect data transfers of the US subsidiary 1.
- Government access to datahigh
The CLOUD Act may oblige the US subsidiary to provide stored data to authorities, including data held outside the US 1.
- Physical climate risksmedium
Floods, heat and storms may affect offices and data centres 1.
- GDPR compliancemedium
Data protection duties and breach notification obligations may generate costs and sanctions 1.
- Integration of acquisitionslow
Integrating small companies may be difficult and could divert resources from the core product 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Progress of the new EU-US data transfer framework and Planisware's certification under it2027
- Pace of niche acquisitions and their integrationnext 10-K
- Formalisation of the climate transition plan2027
- Evolution of the CDP score and emissions intensity per unit of SaaS revenuenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Planisware provides project and portfolio management software, mainly delivered as SaaS, to companies and public administrations 1. Its strategy covers geographic expansion, growth of the client base and improvement of the technology platform 1. The company operates through entities in several countries, including France, Germany, the United Kingdom and the United States 1.
Planisware acts as a B2B provider with no direct interaction with individuals in a B2C context, and it processes client data mainly as a processor on behalf of its clients 1. This B2B model carries strict compliance duties under the GDPR and data transfer rules 1.
The company aims to develop new product pillars and improve existing ones, including through the integration of small niche firms with complementary technology 1. Acquisitions are limited and are meant to stay a small share of group revenue 1.
Segments
Market context
Planisware operates in the enterprise software market for project and portfolio management, where clients are companies and administrations with governance and compliance needs 1. EU and US data protection and cybersecurity requirements directly influence its costs and operating framework 1.
Growth in this market depends on client adoption of SaaS and the provider's ability to add new functionality 1. The sources do not give market size figures, so the assessment remains qualitative 1.
Trends
- Data protection regulationmixed
The GDPR and national laws impose strict data protection duties and may be supplemented by new requirements, such as the EU proposal on cyber-resilience 1. Compliance brings costs but could become a competitive advantage for data-sensitive clients 1.
- Transatlantic data transfersheadwind
The invalidation of the Privacy Shield and uncertainty over the new EU-US framework could complicate data transfers to the US subsidiary 1. If the new framework is adopted and validated, the situation could become more predictable 1.
- Climate and sustainability requirementsmixed
The company has assessed physical and transition climate risks and set targets to reduce emissions per unit of SaaS revenue 1. Pressure from clients and investors for climate reporting may raise costs but could also differentiate the company 1.
- Physical climate risks to data centresheadwind
Extreme weather events may affect offices and data centres, with possible interruptions and additional adaptation costs 1. Business continuity plans partly mitigate these risks 1.
Competitive position
Planisware competes with other providers of portfolio and project management software, ranging from specialised companies to broader enterprise software suites 1. The source provided does not detail its position against each rival 1.
The stated competitive advantage rests on specialisation in project and portfolio management and on rapid integration of niche acquisitions 1. Competitive pressure could increase if the market consolidates 1.
- Specialised PPM software vendors
Smaller companies offering similar portfolio and project management solutions, not identified in the source.
- Enterprise software suites
Large platforms that include project management modules and can compete for the same corporate budgets.
- Regional project software providers
Local companies in Europe or Asia that compete in public-sector and industry segments.
- Work management platforms
Collaboration-oriented tools that can extend project functionality and compete indirectly.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202515 Apr 2026
- Annual report 202424 Sept 2025
- Annual report 202424 Sept 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Planisware · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.