CIRCLE risk profile
32 Normal where most of the sector sits
Measured 21 October 2026 from CIRC.MI's filed statements. Recomputed nightly.
32 (Normal), driven by Cash conversion at 100, over 5 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 31 | Normal | Stable | One-year price volatility — 30.7% |
| Operating pressure | 35 | Normal | Worsening | Costs outgrowing revenue — +4.4 percentage points |
| Cash conversion | 100 | Acute | Worsening | Capital spending against operating cash — -0.66x |
| Leverage and coverage | 8 | Contained | Worsening | Current ratio — 1.79x |
| Competitive position | 22 | Normal | Stable | Operating-margin gap against peers — +15.2 percentage points |
| Concentration | Reads identified supplier spend, customers above the 10% disclosure threshold and revenue by region. No reading is stored for this company. | |||
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.