ENXTPA:INEA

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Good value average dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

INEA

0.9%

FR REITs

-0.03%

FR Market


1 Year Return

6.1%

INEA

10.7%

FR REITs

10.4%

FR Market

Return vs Industry: INEA underperformed the French REITs industry which returned 10.7% over the past year.

Return vs Market: INEA underperformed the French Market which returned 10.4% over the past year.


Shareholder returns

INEAIndustryMarket
7 Day0%0.9%-0.03%
30 Day-5.2%4.1%-0.8%
90 Day-5.2%7.7%-0.8%
1 Year12.4%6.1%18.0%10.7%14.2%10.4%
3 Year23.3%5.5%28.0%7.4%42.3%28.5%
5 Year56.2%23.3%74.1%30.9%72.6%46.3%

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?

8.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: INEA (€40) is trading below our estimate of fair value (€43.53)

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 good value based on its PE Ratio (7.3x) compared to the REITs industry average (10.3x).

PE vs Market: INEA is good value based on its PE Ratio (7.3x) compared to the French market (17.2x).


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 is good value based on its PB Ratio (0.9x) compared to the FR REITs industry average (1x).


Next Steps

Future Growth

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

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INEA's forecast earnings growth (3.8% per year) is above the savings rate (0.7%).

Earnings vs Market: INEA's earnings (3.8% per year) are forecast to grow slower than the French market (11.5% per year).

High Growth Earnings: INEA's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if INEA's revenue is forecast to grow faster than the French market.

High Growth Revenue: Insufficient data to determine if INEA's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if INEA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Fonciere Inea performed over the past 5 years?

40.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: INEA's earnings have grown significantly by 40.2% per year over the past 5 years.

Accelerating Growth: INEA's earnings growth over the past year (11.6%) is below its 5-year average (40.2% per year).

Earnings vs Industry: INEA earnings growth over the past year (11.6%) underperformed the REITs industry 13.7%.


Return on Equity

High ROE: INEA's Return on Equity (8.9%) is considered low.


Return on Assets

ROA vs Industry: INEA has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: INEA's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Fonciere Inea's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: INEA has a high level of physical assets or inventory.

Debt Coverage by Assets: INEA's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: INEA's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if INEA has a sufficient allowance for bad loans.

Low Risk Liabilities: INEA reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if INEA has an acceptable proportion of non-loan assets held.

Low Risk Deposits: INEA has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if INEA has an appropriate level of bad loans.


Next Steps

Dividend

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

5.50%

Current Dividend Yield


Dividend Yield vs Market

company5.5%marketbottom25%1.5%markettop25%4.7%industryaverage5.1%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: INEA's dividend (5.5%) is higher than the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: INEA's dividend (5.5%) is in the top 25% of dividend payers in the French market (4.72%)

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 (103.6%), 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

What is the CEO of Fonciere Inea's salary, the management and board of directors tenure and is there insider trading?

4.9yrs

Average board tenure


CEO

Philippe Rosio 0

4.9yrs

Tenure

0

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


Board Age and Tenure

4.9yrs

Average Tenure

61.5yo

Average Age

Experienced Board: INEA's board of directors are considered experienced (4.9 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Philippe Rosio

    Chairman & CEO

    • Tenure: 4.9yrs
  • Arline Gaujal-Kempler

    Deputy CEO & Director

    • Tenure: 4.9yrs
  • Karine Dachary

    Chief Financial Officer

    • Tenure: 0yrs

Board Members

  • Eric Grabli

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: €3.90k
  • Pierre Adier (54yo)

    Director

    • Tenure: 4.9yrs
    • Compensation: €15.60k
  • Daniel Fruchart (73yo)

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: €12.45k
  • Hélène Martel-Massignac (57yo)

    Director

    • Tenure: 4.9yrs
  • Philippe Rosio

    Chairman & CEO

    • Tenure: 4.9yrs
  • Arline Gaujal-Kempler

    Deputy CEO & Director

    • Tenure: 4.9yrs
  • Guy Charlot (66yo)

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: €3.90k
  • Jean Belmudes

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: €6.50k
  • Alessandra Ertan

    Director

    • Tenure: 0.3yrs
  • Arnault Dumont

    Director

    • Tenure: 0.3yrs

Company Information

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


Key Information

  • Name: Fonciere Inea S.A.
  • Ticker: INEA
  • Exchange: ENXTPA
  • Founded: 2005
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: €336.787m
  • Shares outstanding: 8.42m
  • Website: https://www.inea-sa.eu

Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INEAENXTPA (Euronext Paris)YesCommon StockFREURDec 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 Analysis2019/10/22 20:53
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.