Immobel (EBR:IMMO) Has Debt But No Earnings; Should You Worry?
Apr 30
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Belgian (BEL20) Real Estate Industry Analysis
UpdatedJun 13, 2025
DataAggregated Company Financials
Companies16
- 7D0.04%
- 3M1.3%
- 1Y-19.9%
- YTD9.4%
Last week, the Real Estate industry hasn't moved much but Immobel is up 3.7% in that time. Unfortunately though, the industry is down 21% over the past 12 months. Earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the Belgian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 13 Jun 2025 | €3.0b | €944.8m | €186.1m | 14.2x | 16.2x | 3.2x |
| Sun, 11 May 2025 | €3.0b | €945.4m | €186.2m | 14x | 15.9x | 3.1x |
| Tue, 08 Apr 2025 | €2.6b | €1.1b | €207.9m | 9.6x | 12.4x | 2.3x |
| Thu, 06 Mar 2025 | €2.8b | €916.5m | €169.5m | 8.7x | 16.3x | 3x |
| Sat, 01 Feb 2025 | €3.0b | €677.9m | €63.0m | 10.8x | 47.1x | 4.4x |
| Mon, 30 Dec 2024 | €2.7b | €678.0m | €63.0m | 10.3x | 42.2x | 3.9x |
| Wed, 27 Nov 2024 | €2.9b | €677.0m | €61.7m | 10.9x | 46.2x | 4.2x |
| Fri, 25 Oct 2024 | €3.0b | €677.0m | €61.7m | 11.4x | 48.4x | 4.4x |
| Sun, 22 Sep 2024 | €3.4b | €676.4m | €60.4m | 12.9x | 55.7x | 5x |
| Tue, 20 Aug 2024 | €3.6b | €482.1m | -€13,925,249.00 | 13.6x | -257.9x | 7.4x |
| Thu, 18 Jul 2024 | €3.8b | €482.1m | -€13,925,249.00 | 14.1x | -272x | 7.9x |
| Sat, 15 Jun 2024 | €3.6b | €483.0m | -€12,511,469.00 | 12.8x | -291.5x | 7.6x |
| Mon, 13 May 2024 | €3.9b | €483.4m | -€12,511,469.00 | 13.1x | -309.7x | 8x |
| Wed, 10 Apr 2024 | €3.7b | €483.6m | -€16,109,469.00 | 11x | -232.4x | 7.7x |
| Fri, 08 Mar 2024 | €3.6b | €548.8m | €25.6m | 10.5x | 142.5x | 6.6x |
| Sun, 04 Feb 2024 | €3.9b | €462.5m | -€275,308,486.00 | 11.1x | -14x | 8.3x |
| Tue, 02 Jan 2024 | €3.6b | €462.5m | -€275,274,486.00 | 11.5x | -13x | 7.8x |
| Thu, 30 Nov 2023 | €6.7b | €810.6m | €249.4m | 6.7x | 26.9x | 8.3x |
| Sat, 28 Oct 2023 | €5.9b | €810.6m | €249.4m | 6.4x | 23.5x | 7.2x |
| Mon, 25 Sep 2023 | €6.6b | €810.5m | €249.3m | 6.7x | 26.7x | 8.2x |
| Wed, 23 Aug 2023 | €6.8b | €880.0m | €389.1m | 14.5x | 17.5x | 7.7x |
| Fri, 21 Jul 2023 | €7.1b | €847.6m | €502.3m | 19.8x | 14.2x | 8.4x |
| Sun, 18 Jun 2023 | €7.5b | €847.8m | €502.5m | 20.7x | 14.9x | 8.8x |
| Tue, 16 May 2023 | €7.8b | €858.3m | €505.9m | 19.1x | 15.4x | 9.1x |
| Thu, 13 Apr 2023 | €7.8b | €862.8m | €515.6m | 18.5x | 15.2x | 9.1x |
| Sat, 11 Mar 2023 | €7.3b | €946.5m | €690.8m | 12.7x | 10.5x | 7.7x |
| Mon, 06 Feb 2023 | €8.1b | €964.1m | €1.5b | 5.7x | 5.5x | 8.4x |
| Wed, 04 Jan 2023 | €7.5b | €964.1m | €1.5b | 5.7x | 5.1x | 7.7x |
| Fri, 02 Dec 2022 | €7.1b | €964.1m | €1.5b | 5.4x | 4.9x | 7.4x |
| Sun, 30 Oct 2022 | €6.8b | €964.1m | €1.5b | 5.4x | 4.7x | 7.1x |
| Tue, 27 Sep 2022 | €7.0b | €964.0m | €1.5b | 5.2x | 4.8x | 7.2x |
| Thu, 25 Aug 2022 | €9.4b | €1.1b | €1.5b | 6.3x | 6.1x | 8.4x |
| Sat, 23 Jul 2022 | €9.2b | €1.1b | €1.3b | 6.1x | 7x | 8.3x |
| Mon, 20 Jun 2022 | €9.3b | €1.1b | €1.3b | 6.7x | 7x | 8.4x |
Price to Earnings Ratio
7x
Current Industry PE
- Investors are pessimistic on the Belgian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 16.3x which is higher than its 3-year average PE of -30.6x.
- The 3-year average PS ratio of 6.9x is higher than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 48% per year over the last three years,
- Revenues have also declined 5.1% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Belgian Real Estate industry?
| BE Market | 0.63% | |
| Real Estate | 0.58% | |
| Real Estate | 0.036% | |
| Diversified Real Estate | 6.32% | |
| Real Estate Development | 3.68% | |
| Real Estate Operating Companies | -0.25% | |
| Real Estate Services | -16.80% | |
Industry PE
- Investors are most optimistic about the Real Estate Operating Companies industry even though it's trading below its 3-year average PE ratio of 36.9x.
- Analysts are expecting annual earnings growth of 9.7%, which is higher than its past year's earnings decline of 36.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 96% over the next 5 years.
- This is better than its past earnings decline of 51% per year.
- In contrast, the Real Estate Operating Companies industry is expected to see its earnings grow by 9.7% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ATEB Atenor | €2.86 | 2.9% +€4.9m | -51.4% | PS0.5x | |
| IMMO Immobel | €19.14 | 2.5% +€4.7m | -25.2% | PS0.5x | |
| TEXF Texaf | €33.40 | 0.6% +€733.3k | -8.2% | PE16.5x | |
| BANI Banimmo | €2.94 | 0.7% +€225.0k | -7.5% | PE14.2x |
