ENXTPA:INEA

Stock Analysis Report

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Executive Summary

Fonciere Inea S.A., a real estate investment company, engages in owning and managing business real estate properties in France.


Snowflake Analysis

Average dividend payer and slightly overvalued.

Share Price & News

How has Fonciere Inea's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: INEA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.0%

INEA

1.4%

FR REITs

1.8%

FR Market


1 Year Return

-7.9%

INEA

-26.2%

FR REITs

-4.8%

FR Market

Return vs Industry: INEA exceeded the French REITs industry which returned -26.9% over the past year.

Return vs Market: INEA underperformed the French Market which returned -6% over the past year.


Shareholder returns

INEAIndustryMarket
7 Day1.0%1.4%1.8%
30 Day0.3%-3.5%-2.2%
90 Day-2.8%-2.6%7.1%
1 Year-2.0%-7.9%-21.2%-26.2%-2.8%-4.8%
3 Year18.1%-0.3%-12.6%-26.9%10.7%1.2%
5 Year25.7%-3.3%1.0%-24.4%24.8%7.5%

Price Volatility Vs. Market

How volatile is Fonciere Inea's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

14.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: INEA (€38.7) is trading below our estimate of fair value (€45.16)

Significantly Below Fair Value: INEA is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: INEA is poor value based on its PE Ratio (9.8x) compared to the FR REITs industry average (7.9x).

PE vs Market: INEA is good value based on its PE Ratio (9.8x) compared to the French market (16.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate INEA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: INEA's PB Ratio (0.8x) is in line with the FR REITs industry average.


Next Steps

Future Growth

How is Fonciere Inea forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.5%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fonciere Inea has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Fonciere Inea performed over the past 5 years?

33.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: INEA has a large one-off gain of €14.2M impacting its June 30 2020 financial results.

Growing Profit Margin: INEA's current net profit margins (74.2%) are lower than last year (79.5%).


Past Earnings Growth Analysis

Earnings Trend: INEA's earnings have grown significantly by 33.1% per year over the past 5 years.

Accelerating Growth: INEA's earnings growth over the past year (0.7%) is below its 5-year average (33.1% per year).

Earnings vs Industry: INEA earnings growth over the past year (0.7%) underperformed the REITs industry 13.2%.


Return on Equity

High ROE: INEA's Return on Equity (8.6%) is considered low.


Next Steps

Financial Health

How is Fonciere Inea's financial position?


Financial Position Analysis

Short Term Liabilities: INEA's short term assets (€33.8M) do not cover its short term liabilities (€39.6M).

Long Term Liabilities: INEA's short term assets (€33.8M) do not cover its long term liabilities (€306.4M).


Debt to Equity History and Analysis

Debt Level: INEA's debt to equity ratio (80.6%) is considered high.

Reducing Debt: INEA's debt to equity ratio has reduced from 99.1% to 80.6% over the past 5 years.

Debt Coverage: INEA's debt is not well covered by operating cash flow (5.2%).

Interest Coverage: INEA's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet


Next Steps

Dividend

What is Fonciere Inea current dividend yield, its reliability and sustainability?

6.46%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: INEA's dividend (6.46%) is higher than the bottom 25% of dividend payers in the French market (1.49%).

High Dividend: INEA's dividend (6.46%) is in the top 25% of dividend payers in the French market (4.86%)


Stability and Growth of Payments

Stable Dividend: INEA's dividends per share have been stable in the past 10 years.

Growing Dividend: INEA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (128%), INEA's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.7yrs

Average board tenure


CEO

Philippe Rosio (60 yo)

5.75yrs

Tenure

Mr. Philippe Rosio has been Chairman of the Board and Chief Executive Officer of Fonciere Inea S.A. since November 18, 2014 and is its President. Mr. Rosio served as the Chairman of Executive Board at Fonc ...


Board Members

NamePositionTenureCompensationOwnership
Philippe Rosio
Chairman5.75yrsno datano data
Arline Gaujal-Kempler
Deputy CEO & Director5.75yrsno datano data
Pierre Adier
Director5.75yrs€9.75kno data
Daniel Fruchart
Independent Director15.5yrs€9.30kno data
Cécile de Guillebon
Independent Director1.17yrs€3.90kno data
Valérie Guillen
Independent Director2.25yrs€9.75kno data
Alessandra Ertan
Independent Director1.17yrs€5.85kno data
Arnault Dumont
Independent Director1.17yrs€5.85kno data
Ferdinand Brunet
Independent Director1.17yrs€5.85kno data
Jean-Pierre Quatrhomme
Independent Director1.17yrs€5.85kno data
Olivier Le Bougeant
Independent Director1.17yrs€5.85kno data
Dominique Bassoulet
Independent Director2.25yrs€9.75kno data

1.7yrs

Average Tenure

55.5yo

Average Age

Experienced Board: INEA's board of directors are not considered experienced ( 1.7 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

Fonciere Inea S.A.'s company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Fonciere Inea S.A.
  • 7 rue du FossE Blanc
  • Gennevilliers
  • Ile-de-France
  • 92230
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INEAENXTPA (Euronext Paris)YesCommon StockFREURDec 2006
0IDGLSE (London Stock Exchange)YesCommon StockGBEURDec 2006
INEAPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURDec 2006

Biography

Fonciere Inea S.A., a real estate investment company, engages in owning and managing business real estate properties in France. As of December 31, 2010, its property portfolio consisted of 111 buildings. T ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/07 22:16
End of Day Share Price2020/08/07 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.