Patrimoine et Commerce SA, a real estate company, engages in the acquisition, development, and operation of commercial real estate properties in France. More Details
Good value second-rate dividend payer.
Share Price & News
How has Patrimoine et Commerce's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PAT has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PAT exceeded the French REITs industry which returned -38.2% over the past year.
Return vs Market: PAT underperformed the French Market which returned -8.5% over the past year.
Price Volatility Vs. Market
How volatile is Patrimoine et Commerce's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StIs Patrimoine et Commerce SA (EPA:PAT) Popular Amongst Insiders?
3 months ago | Simply Wall StThose Who Purchased Patrimoine et Commerce (EPA:PAT) Shares Three Years Ago Have A 41% Loss To Show For It
5 months ago | Simply Wall StWhat Kind Of Shareholder Appears On The Patrimoine et Commerce SA's (EPA:PAT) Shareholder Register?
Is Patrimoine et Commerce undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PAT (€13.25) is trading below our estimate of fair value (€41.66)
Significantly Below Fair Value: PAT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PAT's PE Ratio (7.1x) is in line with the FR REITs industry average.
PE vs Market: PAT is good value based on its PE Ratio (7.1x) compared to the French market (17x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PAT's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PAT is good value based on its PB Ratio (0.5x) compared to the FR REITs industry average (0.6x).
How is Patrimoine et Commerce forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 Patrimoine et Commerce 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.
- Examine whether Patrimoine et Commerce is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Patrimoine et Commerce competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Real Estate industry.
How has Patrimoine et Commerce performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PAT has a large one-off loss of €8.6M impacting its June 30 2020 financial results.
Growing Profit Margin: PAT's current net profit margins (47.1%) are lower than last year (60.1%).
Past Earnings Growth Analysis
Earnings Trend: PAT's earnings have grown by 0.8% per year over the past 5 years.
Accelerating Growth: PAT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PAT had negative earnings growth (-21.2%) over the past year, making it difficult to compare to the REITs industry average (5.7%).
Return on Equity
High ROE: PAT's Return on Equity (5.2%) is considered low.
How is Patrimoine et Commerce's financial position?
Financial Position Analysis
Short Term Liabilities: PAT's short term assets (€75.0M) do not cover its short term liabilities (€106.0M).
Long Term Liabilities: PAT's short term assets (€75.0M) do not cover its long term liabilities (€384.0M).
Debt to Equity History and Analysis
Debt Level: PAT's debt to equity ratio (99.4%) is considered high.
Reducing Debt: PAT's debt to equity ratio has increased from 71.7% to 99.4% over the past 5 years.
Debt Coverage: PAT's debt is not well covered by operating cash flow (11.5%).
Interest Coverage: PAT's interest payments on its debt are well covered by EBIT (3.9x coverage).
What is Patrimoine et Commerce current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PAT's dividend (9.43%) is higher than the bottom 25% of dividend payers in the French market (1.54%).
High Dividend: PAT's dividend (9.43%) is in the top 25% of dividend payers in the French market (5.22%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, PAT has been paying a dividend for less than 10 years.
Growing Dividend: PAT's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (56.5%), PAT's dividend payments are 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.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Patrimoine et Commerce has no CEO, or we have no data on them.
|Independent Member of Supervisory Board||no data||€27.00k||no data|
|Chairman of the Supervisory Board||5.5yrs||€10.00k||no data|
|Member of Supervisory Board||no data||€12.00k||no data|
|Independent Member of the Supervisory Board||5.5yrs||€8.00k||no data|
|Member of the Supervisory Board||no data||€6.00k||0.000010% |
|Member of the Supervisory Board||no data||€8.00k||no data|
|Independent Member of Supervisory Board||no data||€10.00k||no data|
|Member of the Supervisory Board||2yrs||€6.00k||no data|
|Member of Supervisory Board||6.17yrs||no data||no data|
|Independent Member of the Supervisory Board||6.17yrs||€8.00k||no data|
|Member of Supervisory Board||no data||no data||no data|
|Member of Supervisory Board||no data||€8.00k||no data|
Experienced Board: PAT's board of directors are considered experienced (5.5 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Patrimoine et Commerce SA's company bio, employee growth, exchange listings and data sources
- Name: Patrimoine et Commerce SA
- Ticker: PAT
- Exchange: ENXTPA
- Founded: 1994
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: €182.891m
- Shares outstanding: 13.80m
- Website: https://www.patrimoine-commerce.com
Number of Employees
- Patrimoine et Commerce SA
- 7/9 rue Nationale
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PAT||ENXTPA (Euronext Paris)||Yes||Common Stock||FR||EUR||Mar 1998|
|0P30||LSE (London Stock Exchange)||Yes||Common Stock||GB||EUR||Mar 1998|
|PATP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Common Stock||GB||EUR||Mar 1998|
Patrimoine et Commerce SA, a real estate company, engages in the acquisition, development, and operation of commercial real estate properties in France. The company operates a portfolio of 31 real estate a ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/09/30 21:37|
|End of Day Share Price||2020/09/30 00:00|
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.