Capgemini FY25 CC Revenue Up 3.4%; GenAI Deals Account for Over 8% of Bookings

Capgemini reported revenue of €22.5 billion in 2025, up 1.7% year-on-year, with constant-currency growth of 3.4%. Growth accelerated to 10.6% in the fourth quarter, supported by demand and acquisitions.

Bookings rose 3.9% at constant exchange rates to €24.4 billion, with a book-to-bill ratio of 1.08 for the year and 1.21 in Q4. 

Generative AI-related deals accounted for more than 8% of total bookings for the year and over 10% in the fourth quarter. Operating margin remained stable at 13.3% of revenues.

Growth during the year was supported by rising demand for cloud, data and AI services, digital business process offerings, and an increase in large transformation deals. Acquisitions completed during the year, including WNS and Cloud4C, contributed to performance, particularly in the final quarter.

Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said the company exceeded its revenue growth objective and met margin and free cash flow targets despite a complex macroeconomic environment.

“The improvement of our underlying growth dynamics throughout the year has been driven by a strong demand for cloud, data & AI and digital business process services, as well as a greater number of large transformational deals.”

Ezzat added that generative and agentic AI accounted for over 10% of Group bookings in Q4.

The company said it is accelerating changes to its capabilities to support its growth plans, which will involve country-specific workforce and skills adjustments and lead to restructuring costs of about €700 million over the next two years.

“The strategic acquisition of WNS marked a milestone for the Group. This acquisition strengthens Capgemini’s ability to deliver GenAI-powered intelligent operations at scale, accelerating end-to-end agentification of business processes to deliver significant value,” he said.

For 2026, the company expects growth to be driven by AI-led transformation programs, intelligent operations where it is signing large deals, and sovereignty-related demand, as reflected in recent announcements with hyperscalers including Amazon Web Services, Google and Microsoft.

Capgemini targets for 2026 revenue growth at constant exchange rates from 6.5% to 8.5% and an operating margin of between 13.6% and 13.8%.

Headcount at the end of 2025 rose to 423,400, up 24% year-on-year, largely reflecting the integration of WNS employees. The offshore workforce increased 42% to 279,200, accounting for 66% of total headcount, while the onshore workforce remained stable at 144,200.