Seeking AlphaCodex · 实盘不做把握 5/10
北京时间·🕒 发布 13:48:40时区推断·⟳ 抓取 13:51:25·⚡ 决策 07-23 14:02:00 +10m35s·96.3 天前
达索系统二季度EPS和收入小幅超预期并确认全年展望
二季度非GAAP EPS为0.31欧元，超预期0.02欧元；收入15.6亿欧元，超预期2000万美元。
📄 原文Seeking Alpha↗ 原文
- Dassault Systemes press release (DASTY): Q2 Non-GAAP EPS of €0.31 beats by €0.02. - Revenue of €1.56B (+2.6% Y/Y) bea…
不做 达索系统（DSY.FR）
财报仅小幅超预期并确认全年展望，没有足够surprise支撑追多，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-23 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 二季度非GAAP EPS为0.31欧元，超预期0.02欧元；收入15.6亿欧元，超预期2000万美元。
- 3DEXPERIENCE和云软件收入均增长14%，经营质量尚可。
- 公司只是确认2026全年展望，缺少显著上修或大幅超预期，财报追多edge不足。
主要风险
- 小幅beat且确认指引容易被市场视为已预期兑现。
- 软件股估值对增长放缓敏感，2.6%的总收入同比增速并不强。
原文全文
展开原文 · 656 字
- Dassault Systemes press release (DASTY): Q2 Non-GAAP EPS of €0.31 beats by €0.02.
- Revenue of €1.56B (+2.6% Y/Y) beats by €20M.
- 3DEXPERIENCE software revenue and cloud software revenue both up 14%, mainly driven by Manufacturing Industries.
- Annual Run Rate growth of 6% versus last year2 , reflecting the continued strengthening of our business model.
- Non-IFRS operating margin of 30%, and non-IFRS diluted EPS up 8% at €0.31.
- Operating cash flow up 11% in the first half, supported by strong cash conversion.
- Confirming non-IFRS full-year objectives, capitalizing on first half achievements.
- "As we look ahead, we confirm our 2026 outlook."
- Revenue of €1.56B (+2.6% Y/Y) beats by €20M.
- 3DEXPERIENCE software revenue and cloud software revenue both up 14%, mainly driven by Manufacturing Industries.
- Annual Run Rate growth of 6% versus last year2 , reflecting the continued strengthening of our business model.
- Non-IFRS operating margin of 30%, and non-IFRS diluted EPS up 8% at €0.31.
- Operating cash flow up 11% in the first half, supported by strong cash conversion.
- Confirming non-IFRS full-year objectives, capitalizing on first half achievements.
- "As we look ahead, we confirm our 2026 outlook."
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