0K4O Stock Overview

A full-service real estate company with expertise in both commercial property investment (portfolio worth €6.8bn on a full consolidation basis as of 12/31/2023) and property development (2023 economic revenue of €1.3bn) that operates throughout France. More details

0K4O fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	0/6
Financial Health	4/6
Dividends	4/6

Rewards

Trading at 26.3% below our estimate of its fair value

Earnings are forecast to grow 96.65% per year

Trading at good value compared to peers and industry

Risk Analysis

Dividend of 22.64% is not well covered by earnings or free cash flows

My Notes

Capture your thoughts, links and company narrative

Icade Competitors

British Land

LSE:BLND

UK£3.6b

Land Securities Group

LSE:LAND

UK£4.2b

LondonMetric Property

LSE:LMP

UK£3.9b

Picton Property Income

LSE:PCTN

UK£361.7m

Price History & Performance

Summary of share price highs, lows and changes for Icade
Historical stock prices
Current Share Price	€21.39
52 Week High	€29.82
52 Week Low	€19.33
Beta	1.2
1 Month Change	-3.19%
3 Month Change	-5.56%
1 Year Change	-25.89%
3 Year Change	-63.76%
5 Year Change	-76.30%
Change since IPO	-68.58%

Recent updates

Shareholder Returns

	0K4O	GB REITs	GB Market
7D	-7.5%	-2.0%	-0.9%
1Y	-25.9%	-3.0%	9.8%

Return vs Industry: 0K4O underperformed the UK REITs industry which returned -3% over the past year.

Return vs Market: 0K4O underperformed the UK Market which returned 9.8% over the past year.

Price Volatility

Is 0K4O's price volatile compared to industry and market?
0K4O volatility
0K4O Average Weekly Movement	4.8%
REITs Industry Average Movement	3.2%
Market Average Movement	4.6%
10% most volatile stocks in GB Market	10.6%
10% least volatile stocks in GB Market	2.5%

Stable Share Price: 0K4O has not had significant price volatility in the past 3 months compared to the UK market.

Volatility Over Time: 0K4O's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1954	1,006	Nicolas Joly	www.icade.fr

Icade is a full-service real estate company with expertise in both commercial property investment (portfolio worth €6.8bn on a full consolidation basis as of 12/31/2023) and property development (2023 economic revenue of €1.3bn) that operates throughout France. Icade has forged longterm partnerships to respond to emerging trends in the industry. It has made climate issues and the preservation of biodiversity central to its business model to reinvent real estate and contribute to more sustainable cities.

Icade Fundamentals Summary

How do Icade's earnings and revenue compare to its market cap?
0K4O fundamental statistics
Market cap	€1.62b
Earnings (TTM)	-€275.40m
Revenue (TTM)	€1.41b

1.1x

P/S Ratio

-5.9x

P/E Ratio

Is 0K4O overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
0K4O income statement (TTM)
Revenue	€1.41b
Cost of Revenue	€949.80m
Gross Profit	€462.50m
Other Expenses	€737.90m
Earnings	-€275.40m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

Apr 16, 2025

Earnings per share (EPS)	-3.63
Gross Margin	32.75%
Net Profit Margin	-19.50%
Debt/Equity Ratio	107.4%

How did 0K4O perform over the long term?

See historical performance and comparison

Dividends

22.6%

Current Dividend Yield

100%

Payout Ratio

Does 0K4O pay a reliable dividends?

See 0K4O dividend history and benchmarks

When do you need to buy 0K4O by to receive an upcoming dividend?
Icade dividend dates
Ex Dividend Date	Mar 04 2025
Dividend Pay Date	Mar 06 2025
Days until Ex dividend	10 days
Days until Dividend pay date	12 days

Does 0K4O pay a reliable dividends?

See 0K4O dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/22 08:47
End of Day Share Price	2025/02/21 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Icade is covered by 28 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ruud Van Maanen	ABN AMRO Bank N.V.
Alda Kule Dale	AlphaValue
Celine Soo-Huynh	Barclays

0K4O Stock Overview

Rewards

Risk Analysis

Icade Competitors

LSE:BLND

UK£3.6b

LSE:LAND

UK£4.2b

LSE:LMP

UK£3.9b

LSE:PCTN

UK£361.7m

Price History & Performance

Recent News & Updates

Final dividend of €2.16 announced

Full year 2024 earnings released

Now 27% undervalued after recent price drop

Now 23% overvalued

Icade to Report Q3, 2025 Results on Oct 22, 2025

Now 21% overvalued

Recent updates

Final dividend of €2.16 announced

Full year 2024 earnings released

Now 27% undervalued after recent price drop

Now 23% overvalued

Icade to Report Q3, 2025 Results on Oct 22, 2025

Now 21% overvalued

Icade to Report Fiscal Year 2024 Results on Feb 18, 2025

Now 21% undervalued

First half 2024 earnings released: €2.38 loss per share (vs €6.80 loss in 1H 2023)

Now 21% undervalued after recent price drop

Now 20% undervalued after recent price drop

Dividend of €2.42 announced

Now 21% undervalued after recent price drop

Upcoming dividend of €2.42 per share

Final dividend increased to €2.42

Icade, Annual General Meeting, Apr 19, 2024

Icade to Report Q1, 2024 Results on Apr 22, 2024

Icade to Report First Half, 2024 Results on Jul 22, 2024

Icade to Report Fiscal Year 2023 Results on Feb 19, 2024

Icade(ENXTPA:ICAD) dropped from FTSE All-World Index (USD)

Now 20% undervalued after recent price drop

Primonial REIM and Société Générale Assurances completed the acquisition of 63% stake in Icade Santé SAS from Icade (ENXTPA:ICAD) and its Minority Shareholders.

Upcoming dividend of €2.17 per share at 12% yield

Vauban Infrastructure Partners and Icade (ENXTPA:ICAD) agreed to acquire A2A Coriance SAS.

Oteis France Sas agreed to acquire AMO and EXPERTISE SANTE activity from Icade (ENXTPA:ICAD).

An undisclosed buyer acquired Michigan Garden Project from Icade SA (ENXTPA:ICAD) for €108 million.

Icade SA (ENXTPA:ICAD) acquired Défense Parc complex in Nanterre Préfecture for €63 million.

Icade SA to Report Q1, 2023 Results on Apr 24, 2023

Icade SA to Report Fiscal Year 2022 Results on Feb 20, 2023

Investor sentiment deteriorated over the past week

Elysées Pierre signed a bilateral preliminary agreement to acquire 16,000-Sq.m AXE 13 Office Building in Nanterre from Icade (ENXTPA:ICAD).

Investor sentiment deteriorated over the past week

Upcoming dividend of €2.10 per share

Funds managed by Primonial REIM acquired Gambetta building in paris from Icade (ENXTPA:ICAD) for approximately €220 million.

Funds managed by Primonial REIM acquired Gambetta building in paris from Icade (ENXTPA:ICAD) for approximately €220 million.

Residences Le Logement Des Fonctionnaires SA signed a bilateral preliminary agreement to acquire Residual Residential Portfolio from Icade (ENXTPA:ICAD) for €49.9 million.

Icade (ENXTPA:ICAD) acquired 50.1% interest in M&A Group.

Full year 2021 earnings released: EPS: €5.33 (vs €1.03 in FY 2020)

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

An unknown buyer completed the acquisition of Office building in Boulogne-Billancourt from Icade SA (ENXTPA:ICAD).

First half 2021 earnings released: EPS €2.52 (vs €0.07 in 1H 2020)

Upcoming dividend of €2.00 per share

Revenue beats expectations

New 90-day low: €55.83

A pan-European fund dedicated to a German institutional investor managed by Aberdeen Standard Investments Limited acquired Two residential buildings in Rueil-Malmaison from Icade SA (ENXTPA:ICAD) for €14.6 million.

Icade SA (ENXTPA:ICAD) acquired Ad Vitam

Icade SA to Report Q1, 2021 Results on Apr 23, 2021

Icade SA (ENXTPA:ICAD) agreed to acquire Four Nursing Homes in France from Korian (ENXTPA:KORI) for €33.5 million.

New 90-day high: €67.93

New 90-day high: €64.00

Market bids up stock over the past week

New 90-day low: €48.18

New 90-day low - €53.65

OPPCI owned by South Korean Investors completed the acquisition of 49% stake in Eqho Tower from Icade (ENXTPA:ICAD).

Icade (ENXTPA:ICAD) completed the acquisition of Pointe Métro 1 in Gennevilliers from Fonciere NW 2 Sppicav managed by NORMANDIE REIM.

New 90-day low - €56.63

Icade SA (ENXTPA : ICAD) agreed to acquire Portfolio of 9 Healthcare Facilities in Germany & France from Orpea SA (ENXTPA : ORP) for €145 million.

Shareholder Returns

Price Volatility