Financials Criteo S.A.

Equities

CRTO

US2267181046

Advertising & Marketing

Market Closed - Nasdaq Other stock markets 21:00:00 06/02/2026 GMT			5-day change	1st Jan Change
19.19 ^USD	+1.59%		+0.10%	-6.89%

02-05	European Equities Traded in the US as American Depositary Receipts Fall Sharply in Thursday Trading	MT
02-05	Criteo Introduces Agentic Commerce Recommendation Service to Power AI Shopping Assistants	CI

Projected Income Statement: Criteo S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	825	920.8	928.2	1,023	1,121	1,174	1,190	1,262
Change	-	11.61%	0.81%	10.17%	9.67%	4.66%	1.39%	6.07%
EBITDA ¹	251	322.5	267.3	301.8	390.1	401.5	396.2	427
Change	-	28.49%	-17.12%	12.91%	29.26%	2.91%	-1.32%	7.79%
EBIT ¹	108.8	151.9	24.28	77.22	151.4	193.8	193	203.7
Change	-	39.56%	-84.01%	218.06%	96.07%	28.02%	-0.41%	5.51%
Interest Paid ¹	-1.939	1.939	-1.52	-2.49	3.095	-4	-2.5	-13.5
Earnings before Tax (EBT) ¹	106.9	153.8	42.06	74.73	154.5	195.9	195.5	217.3
Change	-	43.91%	-72.65%	77.67%	106.75%	26.8%	-0.22%	11.17%
Net income ¹	71.68	134.5	8.952	53.26	111.6	147.5	141.6	158
Change	-	87.58%	-93.34%	494.94%	109.49%	32.18%	-3.98%	11.6%
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	253	213.4	220.2	211	276.2	216.9	214.5	213.4	283.4	220.6	240.2	245.4	316.4	253.9	267.1	266.1	334.4	264.4	292.1	288.1	328.9	265.4	293.6	290.7	338.8
Change	-	-15.65%	3.2%	-4.21%	30.92%	-21.46%	-1.1%	-0.53%	32.82%	-22.15%	8.88%	2.16%	28.93%	-19.75%	5.2%	-0.37%	25.67%	-20.94%	10.48%	-1.35%	14.15%	-19.31%	10.63%	-0.99%	16.54%
EBITDA ¹	103.4	75.93	67.27	68.43	110.9	62.82	49.99	50.18	104.3	38.72	55.99	68.44	138.6	70.68	93.43	82	144	92.15	89.38	105.1	116.9	79.02	93.67	92.93	133.7
Change	-	-26.58%	-11.41%	1.73%	62.02%	-43.33%	-20.42%	0.37%	107.88%	-62.88%	44.58%	22.25%	102.57%	-49.02%	32.19%	-12.23%	75.62%	-36.01%	-3%	17.57%	11.24%	-32.4%	18.54%	-0.79%	43.85%
EBIT ¹	67.18	34.22	19.73	32.18	65.74	27.66	-56.51	4.478	48.64	-23.49	0.959	11.43	88.32	10.35	36.94	9.602	94.51	48.17	30.46	51.63	64.79	30.51	46.31	45.21	82.74
Change	-	-49.07%	-42.34%	63.14%	104.27%	-57.92%	-304.27%	107.92%	986.29%	-148.3%	104.08%	1,092.28%	672.42%	-88.28%	256.75%	-74.01%	884.25%	-49.03%	-36.77%	69.53%	25.5%	-52.92%	51.81%	-2.39%	83.03%
Charge d'intérêts ¹	-0.111	-0.718	-0.519	-0.154	3.33	4.03	16.41	3.485	-	-	-	-	-4.498	-	-0.284	-0.008	2.206	-	-1.801	-0.021	-4.5	-	-1.9	-3	-4.5
Earnings before Tax (EBT) ¹	67.07	33.5	19.21	32.03	69.07	31.69	25.59	7.963	42.5	-16.67	-0.893	8.467	83.82	11.54	36.65	9.594	96.71	50.47	28.65	51.61	64.28	32.21	45.84	44.46	81.62
Change	-	-50.05%	-42.66%	66.74%	115.65%	-54.12%	-19.25%	-68.88%	433.72%	-139.21%	94.64%	1,048.15%	889.96%	-86.24%	217.76%	-73.83%	908.07%	-47.82%	-43.22%	80.11%	24.55%	-49.89%	42.32%	-3.01%	83.59%
Net income ¹	45.28	22.41	14.8	23.48	73.76	20.59	17.03	6.579	15.4	-11.81	-2.876	6.927	61.02	7.244	26.99	6.245	71.1	37.93	21.25	37.78	48.61	24.85	35.93	30.92	57.51
Change	-	-50.51%	-33.93%	58.61%	214.15%	-72.09%	-17.26%	-61.37%	134.08%	-176.68%	75.65%	340.86%	780.86%	-88.13%	272.54%	-76.86%	1,038.43%	-46.65%	-43.97%	77.8%	28.67%	-48.88%	44.59%	-13.97%	86.04%
Announcement Date	10/02/21	05/05/21	04/08/21	03/11/21	09/02/22	04/05/22	03/08/22	28/10/22	08/02/23	03/05/23	02/08/23	02/11/23	07/02/24	02/05/24	01/08/24	30/10/24	05/02/25	02/05/25	30/07/25	29/10/25	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Criteo S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-485	-437	-264	-220	-210	-318	-385	-537
Change	-	9.9%	39.59%	16.67%	4.55%	-51.49%	-21.07%	-39.48%
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Criteo S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	67.29	54.98	84.8	92.5	78.11	110.1	127.1	126.2
Change	-	-18.29%	54.22%	9.09%	-15.56%	40.98%	15.41%	-0.68%
Free Cash Flow (FCF) ¹	118.1	167.9	171.2	131.7	146.1	190	181.9	220
Change	-	42.21%	1.96%	-23.04%	10.92%	30.02%	-4.28%	20.98%
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Criteo S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	30.42%	35.02%	28.8%	29.51%	34.79%	34.21%	33.29%	33.83%
EBIT Margin (%)	13.19%	16.49%	2.62%	7.55%	13.5%	16.51%	16.22%	16.13%
EBT Margin (%)	12.96%	16.7%	4.53%	7.31%	13.78%	16.69%	16.42%	17.21%
Net margin (%)	8.69%	14.6%	0.96%	5.21%	9.95%	12.56%	11.9%	12.52%
FCF margin (%)	14.31%	18.23%	18.44%	12.88%	13.03%	16.19%	15.28%	17.43%
FCF / Net Income (%)	164.72%	124.88%	1,912.3%	247.37%	130.98%	128.84%	128.44%	139.24%
Profitability
ROA	7.36%	7.01%	7.99%	8%	11.5%	11.11%	9.97%	9.94%
ROE	12.63%	11.79%	15.66%	17.98%	25.17%	19.58%	16.77%	16.4%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	8.16%	5.97%	9.14%	9.05%	6.97%	9.38%	10.68%	10%
CAPEX / EBITDA (%)	26.81%	17.05%	31.72%	30.65%	20.02%	27.43%	32.08%	29.56%
CAPEX / FCF (%)	56.99%	32.75%	49.53%	70.21%	53.45%	57.96%	69.88%	57.37%
Items per share
Cash flow per share ¹	3.71	5.384	6.07	3.723	4.405	5.27	5.05	-
Change	-	45.13%	12.75%	-38.66%	18.32%	19.63%	-4.17%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	18.42	19.17	18.3	19.36	19.33	22.22	25.5	30.45
Change	-	4.05%	-4.53%	5.78%	-0.15%	14.97%	14.73%	19.42%
EPS ¹	1.16	2.09	0.14	0.88	1.9	2.651	2.614	2.985
Change	-	80.17%	-93.3%	528.57%	115.91%	39.53%	-1.4%	14.19%
Nbr of stocks (in thousands)	60,242	60,722	58,169	56,420	55,182	52,549	52,549	52,549
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	05/02/25	-	-	-