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Criteo Sa(CRTO)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$14.73
10/02/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for CRTO

10/02/2026: CRTO (1-star) is currently NOT-A-BUY. Pass it for now.

Criteo SA is an international advertising technology company that provides AI-powered solutions to help retailers and brands reach consumers across the open internet. The company has successfully shifted its focus toward the high-growth retail media sector, which acts as a key engine for its long-term revenue diversification. While Criteo maintains a leading position as an independent advertising partner, it faces persistent competitive risks from large, vertically integrated 'walled garden' ecosystems. Investors should monitor the company's ability to navigate changing privacy regulations and effectively transition from legacy tracking methods to its new first-party data identity solutions. The stock may interest growth-oriented investors looking for exposure to the maturing retail media market.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitCriteo operates in a high-growth sector but faces significant structural and competitive headwinds.
Momentum investorMixed fitThe stock's momentum is highly dependent on market cycles in digital advertising and the successful scaling of the retail media segment.
Value investorStrong fit while signal remains positiveThe company often trades at modest valuation multiples compared to high-growth SaaS peers.
Dividend investorWeak fitCriteo does not currently pay a dividend, making it unsuitable for income-focused portfolios.
Low-risk investorWeak fitHigh sensitivity to tech sector volatility and advertising spend cycles makes this a higher-risk security.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is susceptible to fluctuations in the broader tech sector and digital ad spend forecasts.
Valuation riskMediumWhile often priced modestly, valuation is vulnerable to earnings misses if retail media growth slows.
Competition risk (AI and walled gardens)HighMajor players like Amazon and Google exert intense pressure on independent ad-tech providers.
Business qualityMediumThe company maintains solid technology, but faces structural challenges from privacy changes.
Dividend incomeLow / noneInvestors receive no cash distributions from the company.
Execution riskMedium / highThe company must successfully transition its revenue base away from legacy cookie-dependent products.

Price Behavior

Downtrend
PRICE PATH

Downtrend

The stock has experienced a sustained decline in price over recent periods.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit -30.66%
Avg. Invested days 25
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/02/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
CRTO receives a 4-star rating, supported by solid company fundamentals, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
CRTO has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, solid earnings growth (+29.6%) and solid cash generation (FCF margin 10.7%) are partially offset by moderate revenue growth (+0.6%), soft profitability (net margin 7.4%), modest insider ownership of 3.41%.

Financial Health Rating

★★★★★
CRTO's financial health is supported by solid cash strength, including free-cash-flow generation (10.7% of revenue). Profitability is moderate (3 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is CRTO's strongest growth driver at +29.6% FY2025 versus FY2024 (solid, 4 stars). Revenue growth (+0.6%, moderate) and free-cash-flow growth (+15.8%, solid) are also constructive, though not equally high across every growth measure.

Ownership

★★★★★
Institutional ownership is 89.7% and approximately 97.7% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 3.41% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Neuberger Berman Group LLC 16.32%
DnB NOR Asset Management (Asia) 12.24%
Morgan Stanley - Brokerage Accounts 10.04%
RIMA MANAGEMENT, LLC 9.38%
BlueCrest Capital Management Ltd. 4.61%

Unit Economics (Per $1K Revenue)

★★★★★
CRTO generates approximately $540 of gross profit, $104 of operating income, and $107 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Moderate margins and solid cash conversion support a 3-star rating, while capital efficiency is solid.

Economic Dimensions

★★★★★
Effective Tax Rate: 26.62%

Quantitative Style Profile

★★★★★
CRTO has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 746.23M USD
Price to earnings Ratio 7.77
1Y Target Price 20.23
Price to earnings Ratio 7.77
1Y Target Price 20.23
Volume (30-day avg) 250.1K shares
Beta 0.3
52 Weeks Range 14.35 - 25.29
Updated Date 10/02/2026
52 Weeks Range 14.35 - 25.29
Updated Date 10/02/2026
Dividends yield (FY) -
Basic EPS (TTM) 1.96

How Company Makes Money

Business areaWhat it includesRetail investor read
Retail MediaSponsored products and display ads on retailer websites.This is the company's fastest-growing segment, acting as a high-margin toll road for brands wanting to advertise on retailer sites.
Marketing SolutionsRetargeting, customer acquisition, and engagement tools.This is the core, stable business that relies on the strength of the open internet for data and reach.
Geographic OperationsAmericas, EMEA, and APAC regions.The company is globally diversified, which spreads risk but exposes it to varying regional privacy regulations.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 7.77
Forward PE 4.99
Enterprise Value 670.14M
Price to Sales(TTM) 0.4
Enterprise Value 670.14M
Price to Sales(TTM) 0.4
Enterprise Value to Revenue 0.36
Enterprise Value to EBITDA 2.43
Shares Outstanding 49.00M
Shares Floating 47.87M
Shares Outstanding 49.00M
Shares Floating 47.87M
Percent Insiders 3.41
Percent Institutions 89.69

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Criteo Sa

Exchange NASDAQ
Headquarters -
IPO Launch date 2013-10-30
CEO & Director Mr. Michael Komasinski
Sector Communication Services
Industry Advertising Agencies
Full time employees 3543
Full time employees 3543

Criteo S.A., a technology company, provides platform to connects the commerce ecosystem for brands, agencies, retailers, and media owners to drive measurable business outcomes in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Retail Media and Performance Media. The Retail Media segment connects brands to shoppers at the digital point of sale through personalized ads that appear on retailer websites and across the open internet. The Performance Media segment encompasses commerce activation, monetization, and services that enable advertisers to reach and convert consumers across channels. It also offers Commerce Max, a suite of retail media demand-side tools that allow brands, agencies, and retailers to plan and buy media across retailer and open internet inventory with closed-loop, product-level measurement, and return-on-ad-spend optimization; Commerce Growth, a solution for continuous customer acquisition and retention for performance marketers and agencies; and GO, an AI-driven solution that automates campaign creation and optimization. In addition, the company provides Commerce Yield, which offers monetization solutions that help retailers and marketplaces maximize the value of their digital assets through inventory and data management, packaging, and in-depth insights; Commerce Grid, a commerce-focused supply side platform for media owner data and inventory monetization; and Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties. It serves retail, travel and marketplaces, and other commerce companies. Criteo S.A. was incorporated in 2005 and is headquartered in Paris, France.