The liquidity contract
The purpose of the liquidity contract entered into with an investment services provider is to improve the liquidity of the Capgemini share and to allow regular quotations in accordance with market practices accepted by the Autorité des marchés financiers (AMF – the French Financial Markets Authority).
The liquidity program report filed by Capgemini every 6 month is available here.
In 2024, a total of 1,828,135 shares were purchased on behalf of Capgemini SE, representing 1.07% of the share capital at December 31, 2024, at an average price of €188.83 per share. During the same period, 1,741,329 Capgemini shares were sold, representing 1.02% of the share capital at December 31, 2024, at an average price of €190.00 per share. At the year‑end, the liquidity account presented a balance of 119,186 shares (approximately 0.07% of the share capital) and approximately €14 million.
Multi-year share buyback programs
As part of the active management of the share capital of Capgemini, and following the full utilization of the previous multi-year buyback program, the Board of directors approved in July 2025 a new multi-year program of €2 billion.
Under these multi-year programs, the Group completed the following share buybacks (based on the execution date of the orders, and not the settlement date):
| Year | Amount (in millions of euros) |
Volume (number of shares) |
Average price (euros) |
| 2016* | 324 | 3,973,710 | 81.5 |
| 2017 | 176 | 1,958,761 | 90.0 |
| 2018 | 200 | 1,831,810 | 109.2 |
| 2019 | 150 | 1,598,231 | 93.9 |
| 2020 | 200 | 1,964,862 | 101.8 |
| 2021 | 200 | 993,744 | 201.3 |
| 2022 | 403 | 2,254,875 | 178.6 |
| 2023 | 350 | 2,018,915 | 173.4 |
| 2024 | 497 | 2,725,649 | 182.4 |
| * in 2016, 203,530 shares were also repurchased as part of a prior program authorization (at an average price of 75.66 euros for a total amount of €15 million) | |||
Other ad-hoc buybacks
In compliance with the authorizations voted at the general meeting, Capgemini may also buy back shares in addition to the share repurchase carried out under the multi-year share buyback program.
Capgemini implements Employee Share Ownership Plans (ESOP) as part of the Group’s policy to associate all employees to its development and performance. To neutralize the dilution resulting from the ESOP capital increases, Capgemini may also implement dedicated buyback plans.
Hence, in 2017, 2018, 2020, 2022, 2023, and in 2024 in relation to the 4th, 5th, 7th , 9th, 10th and 11th ESOP plans, Capgemini carried out share repurchases as follow:
| Year | Amount (in millions of euros) |
Volume (number of shares) |
Average price (euros) |
| 2017 | 360 | 3,522,495 | 104.4 |
| 2018 | 264 | 2,500,000 | 105.5 |
| 2020 | 319 | 3,000,000 | 106.3 |
| 2022 | 408 | 2,397,673 | 170.2 |
| 2023 | 533 | 3,200,000 | 166.7 |
| 2024 | 474 | 2,700,000 | 175.7 |
These buyback transactions are also subject to regulatory filings (Notice of trading on own shares, available here) no later than 7 days after the transaction.