Dassault Systèmes earnings
MyStockButler's November 2026 analysis: Dassault Systèmes' next results are expected on February 3, 2027. The key watch for Dassault Systèmes is whether ARR becomes recognized recurring revenue.
What has Dassault Systèmes guided for 2026?
On October 28, management raised its 2026 revenue target. It expects constant-currency growth of 4%–5%, which removes the effect of exchange-rate movements from the comparison. Its operating-margin and diluted-EPS targets use non-IFRS measures: adjusted figures that exclude items such as share-based compensation and amortization of acquired intangible assets. They may clarify the operating trend, but they are not the formal IFRS results.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Total Revenue (billion), Year to Dec 2026 | Year to Dec 2026 | 6.399 | 6.459 | Oct 28, 2026 |
| Revenue Growth, Year to Dec 2026 | Year to Dec 2026 | 3.0% | 4.0% | Oct 28, 2026 |
| Software revenue growth, Year to Dec 2026 | Year to Dec 2026 | 4.0% | 5.0% | Oct 28, 2026 |
| Operating Margin, Year to Dec 2026 | Year to Dec 2026 | 32.5% | 32.7% | Oct 28, 2026 |
| Diluted EPS, Year to Dec 2026 | Year to Dec 2026 | 1.35 | 1.36 | Oct 28, 2026 |
| Diluted EPS Growth, Year to Dec 2026 | Year to Dec 2026 | 3.0% | 4.0% | Oct 28, 2026 |
What this means. Revenue growth excluding foreign exchange changes shows how much sales grew without currency movements affecting the comparison.
Has Dassault Systèmes kept its past promises?
The record behind the promise is mixed. Earlier forecasts in 2021 and 2022 proved cautious, while the original 2024 and 2025 targets proved too ambitious and were cut. Currency weakened reported-euro results, but delayed large deals and weak automotive demand also mattered. The promises table shows how often the original revenue, margin and EPS ranges were met.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Total Revenue | 5 years | 2 | 1 | 2 |
| Operating Margin | 5 years | 2 | 1 | 2 |
| EPS Diluted | 5 years | 2 | 1 | 2 |
What has Dassault Systèmes reported in the last eight periods?
Q3 revenue rose from €1,460.1 million in 2025 to €1,551.9 million in 2026. Operating income and shareholder net income also increased, while gross margin slipped slightly. Free cash flow rose from €128.1 million to €275.1 million, though quarterly billing and collections can make that comparison volatile.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,551.9 | 1,555.8 | 1,509.2 | 1,681.0 | 1,460.1 | 1,521.6 | 1,573.0 | 1,754.2 |
| Gross margin | 83.6% | 84.1% | 84.0% | 85.0% | 83.8% | 82.6% | 83.5% | 84.8% |
| Operating income | 325.0 | 358.3 | 347.5 | 506.1 | 302.1 | 241.7 | 304.5 | 483.4 |
| Net income | 290.9 | 319.3 | 292.5 | 436.9 | 275.0 | 223.5 | 260.5 | 412.0 |
| EPS, diluted | 0.22 | 0.22 | 0.22 | 0.33 | 0.20 | 0.17 | 0.20 | 0.30 |
What should I watch in Dassault Systèmes results?
The first checkpoint is February 3, 2027, when Dassault has scheduled its fourth-quarter and full-year 2026 results. Investors will want to see whether the company met its raised outlook, whether MEDIDATA returned to growth and whether ARR moved into recognized recurring revenue. A 2026 manufacturing survey found that 72% of manufacturers had adopted AI, but only 10% were using it at scale. Dassault therefore faces an adoption problem as well as a product-development problem.