BN · rank #14 · 2026-10-26
EXENS
PARIS · EUR · $3.26B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | -0.32 |
|---|---|
| Forward revenue growth Consensus forward revenue growth. | +13.2% |
| Forward net margin Consensus forward net margin. | +6.6% |
| Net margin TTM Trailing twelve month net margin. | +6.0% |
| Margin expansion Forward minus trailing net margin (percentage points). | +0.6% |
| Forward PEG Forward P/E to growth. Below 1 is cheap for the growth. | — |
| Debt / FCF Net debt relative to free cash flow. Lower is safer. | 2.58× |
| Analyst upside Spread between the consensus 12m target and the current price. | +22.1% |
| Last EPS surprise Most recent reported EPS versus consensus. | — |
| Market cap (USD) | $3.26B |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
Exosens is a French defense-and-industrial imaging supplier spanning image-intensifier tubes, night-vision, and advanced SWIR/detection systems, with capacity expansion aimed at serving fast-growing European defense and surveillance demand.
Rationale
The setup fits a bottleneck-solver because Exosens appears to be one of the few scaled, ITAR-free suppliers of high-performance night-vision and advanced imaging components, and recent guidance raises confirm the demand/capacity mismatch is still improving.
Material risks
- 1The key thesis risk is that the moat is not a true sole-supplier position and Exosens has not disclosed hard backlog or customer-concentration data, so demand visibility could prove weaker than the growth narrative implies.
- 2Defense-heavy exposure plus large capex for European/U.S. capacity and Emberion integration could pressure free cash flow if night-vision, thermal, or counter-drone demand normalizes.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 1 of 3 voted to proceed.