Market Cap
€3.3b
Last Updated
2020/09/27 03:26 UTC
Data Sources
Company Financials +
Executive Summary
As an investor and a developer, Icade is an integrated real estate player that designs innovative real estate products and services adapted to new urban lifestyles and habits. More Details
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and good value.
Similar Companies
Share Price & News
How has Icade's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ICAD's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-7.2%
ICAD
-5.8%
FR REITs
-4.3%
FR Market
1 Year Return
-45.4%
ICAD
-39.4%
FR REITs
-10.9%
FR Market
Return vs Industry: ICAD underperformed the French REITs industry which returned -39.4% over the past year.
Return vs Market: ICAD underperformed the French Market which returned -10.9% over the past year.
Shareholder returns
| ICAD | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.2% | -5.8% | -4.3% |
| 30 Day | -19.8% | -13.0% | -4.3% |
| 90 Day | -27.5% | -18.6% | -2.2% |
| 1 Year | -42.5%-45.4% | -35.2%-39.4% | -8.9%-10.9% |
| 3 Year | -30.5%-41.0% | -27.3%-39.2% | 3.0%-6.0% |
| 5 Year | -3.5%-26.8% | -6.7%-30.2% | 36.0%17.2% |
Price Volatility Vs. Market
How volatile is Icade's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
How Is Icade's (EPA:ICAD) CEO Paid Relative To Peers?1 month ago | Simply Wall St
What Kind Of Shareholders Hold The Majority In Icade SA's (EPA:ICAD) Shares?2 months ago | Simply Wall St
Would Shareholders Who Purchased Icade's(EPA:ICAD) Stock Year Be Happy With The Share price Today?Valuation
Is Icade undervalued compared to its fair value and its price relative to the market?
41.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ICAD (€44.56) is trading below our estimate of fair value (€76.52)
Significantly Below Fair Value: ICAD is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ICAD is poor value based on its PE Ratio (12.7x) compared to the FR REITs industry average (7.3x).
PE vs Market: ICAD is good value based on its PE Ratio (12.7x) compared to the French market (16.9x).
Price to Earnings Growth Ratio
PEG Ratio: ICAD is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: ICAD is overvalued based on its PB Ratio (1.2x) compared to the FR REITs industry average (0.6x).
Next Steps
Future Growth
How is Icade forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
26.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ICAD's forecast earnings growth (26.8% per year) is above the savings rate (0.6%).
Earnings vs Market: ICAD's earnings (26.8% per year) are forecast to grow faster than the French market (24.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ICAD's revenue (5.7% per year) is forecast to grow slower than the French market (6.7% per year).
High Growth Revenue: ICAD's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ICAD's Return on Equity is forecast to be low in 3 years time (11.9%).
Next Steps
Past Performance
How has Icade performed over the past 5 years?
47.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ICAD has a large one-off gain of €200.3M impacting its June 30 2020 financial results.
Growing Profit Margin: ICAD's current net profit margins (17.6%) are higher than last year (10.4%).
Past Earnings Growth Analysis
Earnings Trend: ICAD's earnings have grown significantly by 47.9% per year over the past 5 years.
Accelerating Growth: ICAD's earnings growth over the past year (49%) exceeds its 5-year average (47.9% per year).
Earnings vs Industry: ICAD earnings growth over the past year (49%) exceeded the REITs industry 13.2%.
Return on Equity
High ROE: ICAD's Return on Equity (8%) is considered low.
Next Steps
Financial Health
How is Icade's financial position?
Financial Position Analysis
Short Term Liabilities: ICAD's short term assets (€2.4B) do not cover its short term liabilities (€2.6B).
Long Term Liabilities: ICAD's short term assets (€2.4B) do not cover its long term liabilities (€6.1B).
Debt to Equity History and Analysis
Debt Level: ICAD's debt to equity ratio (190.5%) is considered high.
Reducing Debt: ICAD's debt to equity ratio has increased from 101.7% to 190.5% over the past 5 years.
Debt Coverage: ICAD's debt is not well covered by operating cash flow (6.4%).
Interest Coverage: ICAD's interest payments on its debt are not well covered by EBIT (1.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Icade current dividend yield, its reliability and sustainability?
10.79%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ICAD's dividend (10.79%) is higher than the bottom 25% of dividend payers in the French market (1.56%).
High Dividend: ICAD's dividend (10.79%) is in the top 25% of dividend payers in the French market (5.25%)
Stability and Growth of Payments
Stable Dividend: ICAD's dividends per share have been stable in the past 10 years.
Growing Dividend: ICAD's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (76.8%), ICAD's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ICAD's dividends in 3 years are forecast to be covered by earnings (86.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.9yrs
Average management tenure
CEO
Olivier Wigniolle (57 yo)
5.42yrs
Tenure
€488,100
Compensation
Mr. Olivier Wigniolle has been the Chief Executive Officer of Icade S.A. at Caisse des dépôts et consignations since April 29, 2015 and Icade EMGP since September 29, 2016. He is a Managing Director of Ica ...
CEO Compensation Analysis
Compensation vs Market: Olivier's total compensation ($USD567.10K) is below average for companies of similar size in the French market ($USD1.87M).
Compensation vs Earnings: Olivier's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD & CEO | 5.42yrs | €488.10k | 0.022% € 712.9k | |
| Head of Finance | 5yrs | no data | no data | |
| Head of Consolidation & Accounting | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Director of Financial Communication & Investor Relations | 1.75yrs | no data | no data | |
| General Secretary and Head of Governance | no data | no data | no data | |
| Head of Audit | 4.92yrs | no data | no data | |
| Head of Institutional Relations & Group Communication | 2.83yrs | no data | no data | |
| Head of Human Resources | 2.67yrs | no data | no data | |
| Head of the Commercial Property Investment Division | 5yrs | no data | no data | |
| Head of Financial Control | no data | no data | no data | |
| Head of Corporate Oversight & Financing | no data | no data | no data |
4.9yrs
Average Tenure
54yo
Average Age
Experienced Management: ICAD's management team is considered experienced (4.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 4.33yrs | €51.88k | 0.0010% € 34.6k | |
| Independent Director | 2.25yrs | €19.60k | 0.000010% € 329.4 | |
| Independent Director | 1.42yrs | €8.58k | no data | |
| Independent Director | 8.75yrs | €26.95k | 0.000010% € 329.4 | |
| Chairman of the Board | 1.42yrs | no data | 0% € 0 | |
| Director | 9.33yrs | no data | 0% € 0 | |
| Director | 0.92yr | no data | no data | |
| Director | 2.5yrs | no data | 0% € 0 | |
| Vice Chairman of the Board & Lead Independent Director | 1.42yrs | €58.98k | 0.000010% € 329.4 | |
| Director | 4yrs | €152.25k | no data | |
| Director | 1.42yrs | no data | no data | |
| Director | 1.42yrs | no data | no data |
1.8yrs
Average Tenure
54yo
Average Age
Experienced Board: ICAD's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.
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.
Top Shareholders
Company Information
Icade SA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Icade SA
- Ticker: ICAD
- Exchange: ENXTPA
- Founded: 1954
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: €3.294b
- Shares outstanding: 73.93m
- Website: https://www.icade.fr
Number of Employees
Location
- Icade SA
- Open Building
- 27 rue Camille Desmoulins
- Issy-les-Moulineaux
- Ile-de-France
- 92130
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ICAD | ENXTPA (Euronext Paris) | Yes | Ordinary Shares | FR | EUR | Jan 1990 |
| 0K4O | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jan 1990 |
| CDMG.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1990 |
| 3IC | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1990 |
| ICADP | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jan 1990 |
Biography
As an investor and a developer, Icade is an integrated real estate player that designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social r ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/27 03:26 |
| End of Day Share Price | 2020/09/25 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.