Owner and CEO, GR20 Research

Gregory Ramirez

Owner and CEO

Industry Research and Consulting Services

GR20 Research

GR20 Research provides industry research and consulting services

Equity Bottom-Up

<ul>
<li>Bernard Charlès has stepped down as Executive Chairman, with CEO Pascal Daloz becoming Chairman &amp; CEO . The succession has been planned through a structured leadership renewal since 2018.   </li>
<li>The strategic roadmap remains centred on  3D Universes and the integration of generative and agentic AI. Management intends to resume sizeable M&amp;A to deepen domain expertise and capture AI-driven opportunities.   </li>
<li>Management has addressed growth bottlenecks at Medidata, Centric and in 3DExperience indirect channels. With governance simplified, the focus is on disciplined execution in 2026 to re-accelerate growth from 2027 onwards.</li>
</ul>


Bernard Charlès has stepped down as Executive Chairman, with CEO Pascal Daloz becoming Chairman &amp; CEO . The succession has been planned through a structured leadership renewal since 2018.   
The strategic roadmap remains centred on  3D Universes and the integration of generative and agentic AI. Management intends to resume sizeable M&amp;A to deepen domain expertise and capture AI-driven opportunities.   
Management has addressed growth bottlenecks at Medidata, Centric and in 3DExperience indirect channels. With governance simplified, the focus is on disciplined execution in 2026 to re-accelerate growth from 2027 onwards.


Dassault Systèmes (DSY FP): A Change in Governance, Not in Strategy

<ul>
<li>Dassault Systèmes' shares fell 21% after 2025 results came in at the low end of guidance and 2026 guidance disappointed due to weakness at Medidata, Centric and in European automotive.   </li>
<li>Management is prioritising operational improvements, accelerating the shift to subscriptions and repositioning M&amp;A towards AI-driven bolt-ons rather than new standalone brands.   </li>
<li>The new AI-based 3D Universes offering represents a strategic shift with differentiated, value-based pricing and strong technological positioning, but meaningful revenue impact is more likely from 2027–2029.</li>
</ul>


Dassault Systèmes' shares fell 21% after 2025 results came in at the low end of guidance and 2026 guidance disappointed due to weakness at Medidata, Centric and in European automotive.   
Management is prioritising operational improvements, accelerating the shift to subscriptions and repositioning M&amp;A towards AI-driven bolt-ons rather than new standalone brands.   
The new AI-based 3D Universes offering represents a strategic shift with differentiated, value-based pricing and strong technological positioning, but meaningful revenue impact is more likely from 2027–2029.


Dassault Systèmes (DSY FP): The Wake-Up Call

<ul>
<li>Dassault Systèmes announced a partnership with Nvidia to build an industrial AI platform combining virtual twins and AI. This includes deploying AI factories and embedding AI across its software portfolio.   </li>
<li>It also unveiled three agentic AI assistants. These virtual companions assist users across design, engineering, simulation and materials science, automating validated tasks while keeping humans in control of key decisions.   </li>
<li>We believe agentic AI will enhance existing software rather than disrupt it. We deem Dassault's  industry expertise, data assets and integration into customer processes position it well for long-term growth.</li>
</ul>


Dassault Systèmes announced a partnership with Nvidia to build an industrial AI platform combining virtual twins and AI. This includes deploying AI factories and embedding AI across its software portfolio.   
It also unveiled three agentic AI assistants. These virtual companions assist users across design, engineering, simulation and materials science, automating validated tasks while keeping humans in control of key decisions.   
We believe agentic AI will enhance existing software rather than disrupt it. We deem Dassault's  industry expertise, data assets and integration into customer processes position it well for long-term growth.


Dassault Systèmes (DSY FP): 3DExperience World 2026 – AI Factories and Virtual Companions

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass). We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass.</li>
<li>Support at $152.35-$153.70 on ACWI-US held, and we discussed last week- as long as this support holds, the multi-month consolidation appears healthy as ACWI-US works off excesses from April-May gains.</li>
<li>ACWI-US now displays a clean 2-month base breakout, MSCI EM (EEM-US) is reversing its 1+ month downtrend, and MSCI EAFE (EFA-US) displays a 5.5+ month base breakout.</li>
</ul>


Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass). We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass.
Support at $152.35-$153.70 on ACWI-US held, and we discussed last week- as long as this support holds, the multi-month consolidation appears healthy as ACWI-US works off excesses from April-May gains.
ACWI-US now displays a clean 2-month base breakout, MSCI EM (EEM-US) is reversing its 1+ month downtrend, and MSCI EAFE (EFA-US) displays a 5.5+ month base breakout.


Time to Buy Global Tech Stocks (Lenovo, SAP); Metals/Miners Also in Focus; MSCI ACWI Clean Breakout

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Dassault Systèmes reported its financial performance for the third quarter of 2025, revealing nuanced outcomes with both positive and negative aspects.</li><li>The overarching theme of the report was the company's focus on driving top-line growth and margin expansion, enabled by the 3DEXPERIENCE platform.</li><li>This platform is pivotal in the company's transition towards subscription-based and recurring revenue models, which are currently experiencing a notable 16% growth in subscriptions this quarter.</li></ul>

Dassault Systèmes reported its financial performance for the third quarter of 2025, revealing nuanced outcomes with both positive and negative aspects.The overarching theme of the report was the company's focus on driving top-line growth and margin expansion, enabled by the 3DEXPERIENCE platform.This platform is pivotal in the company's transition towards subscription-based and recurring revenue models, which are currently experiencing a notable 16% growth in subscriptions this quarter.

Dassault Systèmes Inside: How Its Generative AI & Token Models Could Reshape the Industry?

France

Dassault Systemes operates as a software company. The develops and offers 3Dexperience platform to create innovative new products and services using virtual experiences. Dassault Systemes serves aerospace, construction, business services, consumer packaged goods, high-tech, life science, health care, marine, energy, and industrial equipment industries worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dassault Systemes (DSY FP)

Dassault Systèmes (DSY FP): A Change in Governance, Not in Strategy

Dassault Systèmes announces leadership transition and strategic focus on 3D Universes, AI integration, and M&A for growth acceleration in 2027.

Gregory Ramirez

Dassault Systèmes (DSY FP): The Wake-Up Call

Dassault Systèmes' shares dropped 21% due to weak results and guidance, but management is focusing on operational improvements, subscription...

Gregory Ramirez

Dassault Systèmes (DSY FP): 3DExperience World 2026 – AI Factories and Virtual Companions

Dassault Systèmes partners with Nvidia to integrate AI into industrial processes, unveiling agentic AI assistants to enhance software and empower...

Gregory Ramirez

Time to Buy Global Tech Stocks (Lenovo, SAP); Metals/Miners Also in Focus; MSCI ACWI Clean Breakout

Time to Buy Global Technology Stocks (Lite-On, Lenovo, $SAP, etc.); Metals/Miners Also in Focus $AYA $GDX $XME; MSCI $ACWI Clean Breakout; Bullish...

Vermilion Research

Dassault Systèmes Inside: How Its Generative AI & Token Models Could Reshape the Industry?

Dassault Systèmes reported its financial performance for the third quarter of 2025, revealing nuanced outcomes with both positive and negative...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Dassault Systèmes (DSY FP): A Change in Governance, Not in Strategy

​Dassault Systèmes announces leadership transition and strategic focus on 3D Universes, AI integration, and M&A for growth acceleration in 2027.

Gregory Ramirez

Dassault Systèmes (DSY FP): The Wake-Up Call

​Dassault Systèmes' shares dropped 21% due to weak results and guidance, but management is focusing on operational improvements, subscription...

Gregory Ramirez

Dassault Systèmes (DSY FP): 3DExperience World 2026 – AI Factories and Virtual Companions

​Dassault Systèmes partners with Nvidia to integrate AI into industrial processes, unveiling agentic AI assistants to enhance software and empower...

Gregory Ramirez

Time to Buy Global Tech Stocks (Lenovo, SAP); Metals/Miners Also in Focus; MSCI ACWI Clean Breakout

Time to Buy Global Technology Stocks (Lite-On, Lenovo, $SAP, etc.); Metals/Miners Also in Focus $AYA $GDX $XME; MSCI $ACWI Clean Breakout; Bullish...

Vermilion Research

Dassault Systèmes Inside: How Its Generative AI & Token Models Could Reshape the Industry?

Dassault Systèmes reported its financial performance for the third quarter of 2025, revealing nuanced outcomes with both positive and negative...

Baptista Research

Dassault Systèmes announces leadership transition and strategic focus on 3D Universes, AI integration, and M&A for growth acceleration in 2027.

Dassault Systèmes' shares dropped 21% due to weak results and guidance, but management is focusing on operational improvements, subscription...

Dassault Systèmes partners with Nvidia to integrate AI into industrial processes, unveiling agentic AI assistants to enhance software and empower...