Alstom
Note: This is a daily stock update and the information stands true as of 21/01/26, 09:00 CET.
Company Update:
Expert Opinion:
Alstom is an interesting call and despite the recent strong share price performance, our expert agrees with our analyst and prospects of cash generation for next year are good. Over the long run, he still sees trains as an area of growth and Alstom is well positioned to benefit from that mega trend.
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Company Update:
Alstom delivered a solid Q3;
Orders: €9.6bn (up 124.9% yoy / +131.1% org / +12.0% vs consensus) and Book-to-bill: 2.0x
Sales: €4.8bn (up 2.6% yoy / +5.9% org / +0.8% vs consensus)
FY 2025/26 Outlook – Confirmed
Organic sales growth: above +5%
aEBIT margin: ~7%
Free Cash Flow: €200m–€400m
FCF guidance has not been changed. This is somewhat disappointing but largely anticipated after the pre-close call. Strong order intake supported the quarter and will offset weaker cash generation caused by the postponement of the TGV homologation in the FY results. We think Alstom will generate significant cash flows next year. We reiterate our buy recommendation.
Expert Opinion:
Alstom is an interesting call and despite the recent strong share price performance, our expert agrees with our analyst and prospects of cash generation for next year are good. Over the long run, he still sees trains as an area of growth and Alstom is well positioned to benefit from that mega trend.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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