Réalités (ENXTPA:ALREA) - Share price, News & Analysis

ALREA fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	5/6
Past Performance	1/6
Financial Health	2/6
Dividends	2/6

ALREA Stock Overview

Réalités SA develops real estate projects in the Great West of France.

Rewards

Trading at 77.4% below our estimate of its fair value

Earnings are forecast to grow 33.26% per year

Earnings have grown 22.4% per year over the past 5 years

Risk Analysis

Interest payments are not well covered by earnings

High level of non-cash earnings

Unstable dividend track record

Profit margins (2.9%) are lower than last year (4.2%)

+ 1 more risk

Réalités Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Réalités
Historical stock prices
Current Share Price	€37.10
52 Week High	€38.10
52 Week Low	€22.00
Beta	1.01
1 Month Change	7.54%
3 Month Change	6.30%
1 Year Change	40.00%
3 Year Change	80.98%
5 Year Change	175.84%
Change since IPO	243.52%

Shareholder Returns

	ALREA	FR Real Estate	FR Market
7D	-0.8%	-1.2%	-1.3%
1Y	40.0%	-10.9%	-5.4%

Return vs Industry: ALREA exceeded the French Real Estate industry which returned -10.9% over the past year.

Return vs Market: ALREA exceeded the French Market which returned -5.4% over the past year.

Price Volatility

Is ALREA's price volatile compared to industry and market?
ALREA volatility
ALREA Average Weekly Movement	5.3%
Real Estate Industry Average Movement	5.3%
Market Average Movement	6.1%
10% most volatile stocks in FR Market	10.5%
10% least volatile stocks in FR Market	3.6%

Stable Share Price: ALREA is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ALREA's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	447	Yoann Joubert	https://www.realites.com

Réalités SA develops real estate projects in the Great West of France. It undertakes housing, commercial, complex, seniors' residences, or promotion contracts. The company supports elected officials, businesses, investors, and individuals in the acquisition and investment of real estate projects; and offers residential programs for first-time buyers and investors.

Réalités Fundamentals Summary

How do Réalités's earnings and revenue compare to its market cap?
ALREA fundamental statistics
Market Cap	€132.70m
Earnings (TTM)	€7.68m
Revenue (TTM)	€263.26m

17.3x

P/E Ratio

0.5x

P/S Ratio

Is ALREA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ALREA income statement (TTM)
Revenue	€263.26m
Cost of Revenue	€194.04m
Gross Profit	€69.22m
Other Expenses	€61.55m
Earnings	€7.68m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	2.15
Gross Margin	26.29%
Net Profit Margin	2.92%
Debt/Equity Ratio	184.4%

How did ALREA perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

37%

Payout Ratio

Does ALREA pay a reliable dividends?

See ALREA dividend history and benchmarks

When do you need to buy ALREA by to receive an upcoming dividend?
Réalités dividend dates
Ex Dividend Date	May 23 2022
Dividend Pay Date	May 25 2022
Days until Ex dividend	1 day
Days until Dividend pay date	1 day

Does ALREA pay a reliable dividends?

See ALREA dividend history and benchmarks

Valuation

Is Réalités undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: ALREA (€37.1) is trading below our estimate of fair value (€164.3)

Significantly Below Fair Value: ALREA is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: ALREA is poor value based on its PE Ratio (17.3x) compared to the French Real Estate industry average (11.3x).

PE vs Market: ALREA is poor value based on its PE Ratio (17.3x) compared to the French market (16.4x).

Price to Earnings Growth Ratio

PEG Ratio: ALREA is good value based on its PEG Ratio (0.5x)

Price to Book Ratio

PB vs Industry: ALREA is overvalued based on its PB Ratio (1.6x) compared to the FR Real Estate industry average (0.9x).

Future Growth

How is Réalités forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

33.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALREA's forecast earnings growth (33.3% per year) is above the savings rate (0.3%).

Earnings vs Market: ALREA's earnings (33.3% per year) are forecast to grow faster than the French market (12% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ALREA's revenue (24.6% per year) is forecast to grow faster than the French market (5.8% per year).

High Growth Revenue: ALREA's revenue (24.6% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ALREA's Return on Equity is forecast to be low in 3 years time (18.8%).

Past Performance

How has Réalités performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

22.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ALREA has a high level of non-cash earnings.

Growing Profit Margin: ALREA's current net profit margins (2.9%) are lower than last year (4.2%).

Past Earnings Growth Analysis

Earnings Trend: ALREA's earnings have grown significantly by 22.4% per year over the past 5 years.

Accelerating Growth: ALREA's earnings growth over the past year (8%) is below its 5-year average (22.4% per year).

Earnings vs Industry: ALREA earnings growth over the past year (8%) underperformed the Real Estate industry 18.5%.

Return on Equity

High ROE: ALREA's Return on Equity (9.6%) is considered low.

Financial Health

How is Réalités's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: ALREA's short term assets (€460.3M) exceed its short term liabilities (€283.7M).

Long Term Liabilities: ALREA's short term assets (€460.3M) exceed its long term liabilities (€218.8M).

Debt to Equity History and Analysis

Debt Level: ALREA's net debt to equity ratio (127.1%) is considered high.

Reducing Debt: ALREA's debt to equity ratio has increased from 128.8% to 184.4% over the past 5 years.

Debt Coverage: ALREA's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: ALREA's interest payments on its debt are not well covered by EBIT (2.7x coverage).

Balance Sheet

Dividend

What is Réalités's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

4.85%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ALREA's dividend (4.85%) is higher than the bottom 25% of dividend payers in the French market (1.72%).

High Dividend: ALREA's dividend (4.85%) is low compared to the top 25% of dividend payers in the French market (5%).

Stability and Growth of Payments

Stable Dividend: ALREA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ALREA's dividend payments have increased, but the company has only paid a dividend for 7 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (37.1%), ALREA's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

€154k

CEO Compensation

CEO

Yoann Joubert

no data

Tenure

€153,941

Compensation

Mr. Yoann Joubert serves as the Chairman of the Board and Chief Executive Officer at Réalités.

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Yoann's total compensation is reasonable compared to companies of similar size in the French market.

Compensation vs Earnings: Insufficient data to compare Yoann's compensation with company performance.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2021/06/30
Annual Earnings	2020/12/31