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SWP.PA

Sword Group S.E. (SWP.PA) fair value

Technology · Software - Application · Euronext Paris · France
€32.40+10.20%
Market cap €307MNext earnings 2025-09-10Updated Oct 22, 2026
Our verdict
Trades 15% above our fair value
Price
€32.40
Model fair valueConfidence: good
€28.10
Model range
€18.89 to €48.82
Fair value €28.10
Price €32.40
4 models fit Sword Group S.E. and they disagree: 1 of 4 land within 15% of the average.
Two or more of our models back this value.
Premium(i)Bronze43
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionSword Group S.E. (SWP.PA)
Fair value (4 models)
€28.10
ACCE price target
€33.80
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 12:04 CEST.
ACCE price target published on 23 Oct 2026, 01:53 CEST.
Price used: €32.40 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, Graham number, and Dividend discount.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
15.3% above
-13.3% to fair value
ACCE score
58
out of 100
P/E
14.3x
forward 11.1x
1-year return
-14.6%
Dividend yield
6.80%

Sword Group S.E. in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Sword Group is a Paris-listed IT services and software firm that sells application development, data and cloud consulting, and its own SaaS products into banking, insurance and public-sector clients, with a meaningful share of revenue from its Luxembourg and Benelux base. Its edge is the mix of recurring managed services and proprietary software sitting alongside project work, which supports a 31.5% return on equity despite a modest 9.2% operating margin. Revenue growth of 6.7% is the near-term driver, and the stock trades at 13.0x trailing and 10.0x forward earnings, so the market is pricing in little beyond that growth. At a company this small (278M EUR market cap) with no index membership, coverage is thin, which is the reason to look closer: the gap between a 31.5% ROE and a single-digit margin needs checking against the cash conversion and the balance sheet before anyone takes a view.

AI-assisted·How I use AIWritten Oct 23, 2026

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Valuation

INVESTOR
Where SWP.PA's valuation models land
Price
€32.40
Model fair value
€28.10
Model range
€18.89 to €48.82
Fair value €28.10
Price €32.40
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
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See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.

Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

No analyst coverage yet.
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Recent performance

1 week
+11.3%
1 month
+9.6%
3 months
+12.5%
6 months
-0.5%
YTD
-9.7%
1 year
-14.6%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
23 Oct 2026, 01:53 CESTACCE price target€33.80first publication€29.40
22 Oct 2026, 12:04 CESTRatingFairly valuedfirst publication€29.30
22 Oct 2026, 12:04 CESTFair value€28.10first publication€29.30

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in EUR. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth56Value88Quality66Momentum23Total58
Valuation
Trailing P/E
14.3x
Forward P/E
11.1x
PEG
0.55
P/B
4.05x
EV / Revenue
1.0x
Book value/sh
€7.24
Enterprise value
€352M
Profitability
ROE
31.5%
FCF yield
6.08%
ROIC
8.8%
Health and risk
Debt / equity
1.38
Dividend yield
6.80%
Beta
0.88

Price

-15.8% · 1Y

Ask anything about SWP.PA

Answered from Sword Group S.E. fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 100% of peers
low 14.3x14.3xhigh 116.0x
ROEbetter than 83% of peers
low -109%32%high 96%
Div yieldbetter than 100% of peers
low 0.0%6.8%high 6.8%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
SWP.PA Sword Group S.E.€32.40€2815% above14.3x31.5%6658
3697.T SHIFT Inc.¥1156.00--40.0x17.8%5673
WTC.AX WiseTech Global LimitedA$40.12--52.1x9.8%7359
FIG Figma Inc. Class A Common Stock$24.64$2212% above--108.6%4748
HUBS HubSpot Inc. Common Stock$270.88$20731% above96.7x7.9%6467
MANH Manhattan Associates Inc. Common Stock$238.19$100138% above67.8x96.4%8960
GWRE Guidewire Software Inc. Common Stock$189.00$82131% above116.0x10.5%7153

Sector report card

Where SWP.PA ranks against its sector peers on each metric.

Computing percentiles…