Capgemini Targets €6 Billion Cash Flow by 2028 as Agentic AI Drives 5.5%-7.5% Growth
Updated
Updated · Capgemini · May 27
Capgemini Targets €6 Billion Cash Flow by 2028 as Agentic AI Drives 5.5%-7.5% Growth
2 articles · Updated · Capgemini · May 27
Capgemini set a 2028 ambition of 5.5%-7.5% annual revenue growth at constant currency, lifting adjusted operating profit by 130-150 basis points to 12.1%-12.3% and generating more than €6 billion in organic free cash flow in 2026-2028.
About 2 percentage points of that growth are expected to come from M&A, with management pitching agentic AI as a broad enterprise-transformation opportunity rather than a simple software deployment.
The group said demand should come from five AI-driven value pools, including modernization of legacy technology, a new agentic tech stack, governance tools for AI agents, AI-enabled product development and transformed enterprise operations.
Capgemini also introduced a new headline profitability metric—adjusted operating profit—which includes costs previously excluded; on that basis, its 2025 margin would be 10.8% instead of the reported 13.3%.
For 2026, the company still guides for 6.5%-8.5% revenue growth, a 13.6%-13.8% operating margin and €1.8 billion-€1.9 billion in organic free cash flow.
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