1、Morningstar Equity Company Report|Report as of 17 Mar 2025 22:35,UTC|Reporting Currency:EUR|Trading Currency:EUR|Exchange:BOLSA DE MADRIDPage 1 of 26Amadeus IT Group SA AMS QQQ 17 Mar 2025 22:27,UTCLast Price71.32 EUR17 Mar 2025Fair Value Estimate71.00 EUR17 Mar 2025 22:22,UTCPrice/FVE1.00Market Cap

2、 EUR Economic MoatTMNarrowEquity Style Box3 Large GrowthUncertaintyMediumCapital AllocationStandardESG Risk Rating Assessment1;5 Mar 2025 06:00,UTCDan WasiolekSenior Equity AnalystMorningstar+1 312 696 Ari FelhandlerAssociate Equity AnalystMContentsBusiness DescriptionBusiness Strategy&Outlook(17 Ma

3、r 2025)Bulls Say/Bears Say(17 Mar 2025)Fair Value and Profit Drivers(17 Mar 2025)Economic Moat(17 Mar 2025)Risk and Uncertainty(19 Nov 2024)Financial Strength(17 Mar 2025)Capital Allocation(17 Mar 2025)FinancialsESG RiskRecent Analyst NotesResearch Methodology for Valuing CompaniesImportant Disclosu

4、reThe conduct of Morningstars analysts is governed by Code of Ethics/Code of Conduct Policy,Personal Security Trading Policy(or an equivalent of),and Investment Research Policy.For information regarding conflicts of interest,please visit:http:/ primary analyst covering this company does not own its

5、stock.Reporting Currency:EUR|Trading Currency:EURCurrency amounts expressed with$are in U.S.dollars(USD)unless otherwise denoted.1The ESG Risk Rating Assessment is a representation of Sustainalytics ESG Risk Rating.Amadeus Network Edge Intact Amid Economic Uncertainty Fed by Trumps Tariff PolicyBusi

6、ness Strategy&Outlook Dan Wasiolek,Senior Equity Analyst,17 Mar 2025While Amadeus saw low-teens sales growth in 2024,the company enters 2025 with waning consumer sentiment and a jump in inflation expectations driven by President Donald Trumps tariff policy.That said,we see Amadeus demand continuing