| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 3/6 |
| Past Performance | 1/6 |
| Financial Health | 1/6 |
| Dividends | 6/6 |
ICAD Stock Overview
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.
Rewards
Risk Analysis
Icade Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | €64.60 |
| 52 Week High | €80.00 |
| 52 Week Low | €55.45 |
| Beta | 1.35 |
| 1 Month Change | 4.53% |
| 3 Month Change | -6.31% |
| 1 Year Change | 10.43% |
| 3 Year Change | -10.96% |
| 5 Year Change | -2.80% |
| Change since IPO | 151.32% |
Recent News & Updates
Shareholder Returns
| ICAD | FR REITs | FR Market | |
|---|---|---|---|
| 7D | -0.7% | 0.2% | -0.2% |
| 1Y | 10.4% | 15.7% | 23.7% |
Return vs Industry: ICAD underperformed the French REITs industry which returned 12.7% over the past year.
Return vs Market: ICAD underperformed the French Market which returned 22.9% over the past year.
Price Volatility
| ICAD volatility | |
|---|---|
| ICAD Average Weekly Movement | 2.8% |
| REITs Industry Average Movement | 2.7% |
| Market Average Movement | 4.5% |
| 10% most volatile stocks in FR Market | 9.8% |
| 10% least volatile stocks in FR Market | 2.5% |
Stable Share Price: ICAD is less volatile than 75% of French stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ICAD's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1954 | 1,162 | Olivier Wigniolle | https://www.icade.fr |
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 responsibility and innovation at the core of its strategy, Icade is closely involved with stakeholders and users in the cities—local authorities and communities, companies and employees, institutions and associations… As an office and healthcare property investor (portfolio value of €11.6bn as of 06/30/2020 on a proportionate consolidation basis) and as a property developer (2019 economic revenues of nearly €1bn), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow’s greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities.
Icade Fundamentals Summary
| ICAD fundamental statistics | |
|---|---|
| Market Cap | €4.89b |
| Earnings (TTM) | €203.30m |
| Revenue (TTM) | €1.65b |
24.1x
P/E Ratio3.0x
P/S RatioIs ICAD overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ICAD income statement (TTM) | |
|---|---|
| Revenue | €1.65b |
| Cost of Revenue | €762.30m |
| Gross Profit | €885.90m |
| Expenses | €682.60m |
| Earnings | €203.30m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Feb 21, 2022
| Earnings per share (EPS) | 2.69 |
| Gross Margin | 53.75% |
| Net Profit Margin | 12.33% |
| Debt/Equity Ratio | 193.0% |
How did ICAD perform over the long term?
See historical performance and comparisonDividends
6.2%
Current Dividend Yield52%
Payout RatioValuation
Is Icade undervalued compared to its fair value and its price relative to the market?
27.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ICAD (€64.6) is trading below our estimate of fair value (€89.49)
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 (24.1x) compared to the French REITs industry average (12.9x).
PE vs Market: ICAD is poor value based on its PE Ratio (24.1x) compared to the French market (18.7x).
Price to Earnings Growth Ratio
PEG Ratio: ICAD is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: ICAD is overvalued based on its PB Ratio (1.7x) compared to the FR REITs industry average (0.8x).
Future Growth
How is Icade forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
23.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ICAD's forecast earnings growth (23.7% per year) is above the savings rate (0.3%).
Earnings vs Market: ICAD's earnings (23.7% per year) are forecast to grow faster than the French market (11.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ICAD's revenue (3.9% per year) is forecast to grow slower than the French market (6.1% per year).
High Growth Revenue: ICAD's revenue (3.9% 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 (9.9%).
Past Performance
How has Icade performed over the past 5 years?
23.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ICAD has a large one-off gain of €121.1M impacting its June 30 2021 financial results.
Growing Profit Margin: ICAD's current net profit margins (12.3%) are lower than last year (17.6%).
Past Earnings Growth Analysis
Earnings Trend: ICAD has become profitable over the past 5 years, growing earnings by 23.5% per year.
Accelerating Growth: ICAD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ICAD had negative earnings growth (-21.4%) over the past year, making it difficult to compare to the REITs industry average (3.1%).
Return on Equity
High ROE: ICAD's Return on Equity (6.8%) is considered low.
Financial Health
How is Icade's financial position?
Financial Position Analysis
Short Term Liabilities: ICAD's short term assets (€2.3B) exceed its short term liabilities (€2.1B).
Long Term Liabilities: ICAD's short term assets (€2.3B) do not cover its long term liabilities (€6.7B).
Debt to Equity History and Analysis
Debt Level: ICAD's net debt to equity ratio (169.3%) is considered high.
Reducing Debt: ICAD's debt to equity ratio has increased from 137.2% to 193% over the past 5 years.
Debt Coverage: ICAD's debt is not well covered by operating cash flow (8.3%).
Interest Coverage: ICAD's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
Dividend
What is Icade current dividend yield, its reliability and sustainability?
6.21%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ICAD's dividend (6.21%) is higher than the bottom 25% of dividend payers in the French market (1.32%).
High Dividend: ICAD's dividend (6.21%) is in the top 25% of dividend payers in the French market (3.93%)
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: With its reasonable payout ratio (52.4%), ICAD's dividend 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 (90.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.3yrs
Average management tenure
CEO
Olivier Wigniolle (58 yo)
6.75yrs
Tenure
€471,100
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 ($USD534.19K) is below average for companies of similar size in the French market ($USD2.24M).
Compensation vs Earnings: Olivier's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: ICAD's management team is seasoned and experienced (6.3 years average tenure).
Board Members
Experienced Board: ICAD's board of directors are considered experienced (3.7 years average tenure).
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 been diluted in the past year, with total shares outstanding growing by 2.4%.
Top Shareholders
Company Information
Icade SA's employee growth, exchange listings and data sources
Key Information
- Name: Icade SA
- Ticker: ICAD
- Exchange: ENXTPA
- Founded: 1954
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: €4.890b
- Shares outstanding: 75.69m
- 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
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/20 21:19 |
| End of Day Share Price | 2022/01/20 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.