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Icade

OTCPK:CDMG.F
Snowflake Description

Average dividend payer and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CDMG.F
OTCPK
€6B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

As an investor and a developer, Icade is an integrated real estate player which designs innovative real estate products and services adapted to new urban lifestyles and habits. The last earnings update was 46 days ago. More info.


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CDMG.F Share Price and Events
7 Day Returns
0%
OTCPK:CDMG.F
1.8%
US REITs
-0.7%
US Market
1 Year Returns
-
OTCPK:CDMG.F
16.3%
US REITs
3%
US Market
CDMG.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Icade (CDMG.F) 0% 0% - - - -13.9%
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • No trading data on CDMG.F.
  • No trading data on CDMG.F.
Price Volatility
CDMG.F
Industry
5yr Volatility vs Market
Related Companies

CDMG.F Value

 Is Icade undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Icade to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Icade.

OTCPK:CDMG.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:CDMG.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 33%) (110.67%))
0.95
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.95 * 6.65%)
9.04%

Discounted Cash Flow Calculation for OTCPK:CDMG.F using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Icade is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Icade is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:CDMG.F DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (EUR, Millions) Source Present Value
Discounted (@ 9.04%)
2019 380.50 Analyst x2 348.94
2020 400.00 Analyst x3 336.40
2021 427.50 Analyst x2 329.70
2022 455.00 Analyst x1 321.81
2023 466.00 Analyst x1 302.25
2024 486.66 Est @ 4.43% 289.47
2025 505.74 Est @ 3.92% 275.87
2026 523.77 Est @ 3.56% 262.00
2027 541.12 Est @ 3.31% 248.23
2028 558.11 Est @ 3.14% 234.79
Present value of next 10 years cash flows €2,949.46
OTCPK:CDMG.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €558.11 × (1 + 2.73%) ÷ (9.04% – 2.73%)
€9,079.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €9,079.81 ÷ (1 + 9.04%)10
€3,819.78
OTCPK:CDMG.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,949.46 + €3,819.78
€6,769.25
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €6,769.25 / 73.89
€88.99
OTCPK:CDMG.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $96.47
Current discount Discount to share price of $83.75
= -1 x ($83.75 - $96.47) / $96.47
13.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Icade is available for.
Intrinsic value
13%
Share price is $83.75 vs Future cash flow value of $96.47
Current Discount Checks
For Icade to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Icade's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Icade's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Icade's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Icade's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CDMG.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.11
ENXTPA:ICAD Share Price ** ENXTPA (2019-03-25) in EUR €77.25
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Icade.

OTCPK:CDMG.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:ICAD Share Price ÷ EPS (both in EUR)

= 77.25 ÷ 2.11

36.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Icade is overvalued based on earnings compared to the US REITs industry average.
  • Icade is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Icade's expected growth come at a high price?
Raw Data
OTCPK:CDMG.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 36.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
2.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:CDMG.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 36.59x ÷ 2.2%

16.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Icade is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Icade's assets?
Raw Data
OTCPK:CDMG.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €43.02
ENXTPA:ICAD Share Price * ENXTPA (2019-03-25) in EUR €77.25
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:CDMG.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:ICAD Share Price ÷ Book Value per Share (both in EUR)

= 77.25 ÷ 43.02

1.8x

* Primary Listing of Icade.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Icade is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Icade's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Icade has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CDMG.F Future Performance

 How is Icade expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Icade expected to grow at an attractive rate?
  • Icade's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Icade's earnings growth is positive but not above the United States of America market average.
  • Icade's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:CDMG.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CDMG.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 2.2%
OTCPK:CDMG.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 3.2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:CDMG.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:CDMG.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 131
2022-12-31 2,198 188 1
2021-12-31 1,891 447 156 3
2020-12-31 1,803 414 77 5
2019-12-31 1,786 407 83 5
OTCPK:CDMG.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,772 356 156
2018-09-30 1,711 372 137
2018-06-30 1,684 387 123
2018-03-31 1,669 362 147
2017-12-31 1,620 337 165
2017-06-30 1,594 255 106
2017-03-31 1,543 235 75
2016-12-31 1,493 215 45
2016-06-30 1,396 309 -101
2016-03-31 1,418 307 -144

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Icade's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • Icade's revenue is expected to grow by 3.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:CDMG.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Icade Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CDMG.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 3.44 3.44 3.44 1.00
2021-12-31 2.38 3.12 1.63 2.00
2020-12-31 1.37 1.87 1.08 3.00
2019-12-31 1.31 1.79 1.01 3.00
OTCPK:CDMG.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.11
2018-09-30 1.86
2018-06-30 1.67
2018-03-31 1.98
2017-12-31 2.24
2017-06-30 1.43
2017-03-31 1.02
2016-12-31 0.61
2016-06-30 -1.37
2016-03-31 -1.96

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Icade is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Icade's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Icade has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CDMG.F Past Performance

  How has Icade performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Icade's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Icade's year on year earnings growth rate has been positive over the past 5 years.
  • Icade's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Icade's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Icade's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Icade Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CDMG.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,771.50 156.30 228.90
2018-09-30 1,710.70 137.30 229.25
2018-06-30 1,684.10 123.10 229.60
2018-03-31 1,669.15 146.55 227.00
2017-12-31 1,620.00 165.20 224.40
2017-06-30 1,593.50 105.70 219.30
2017-03-31 1,543.15 75.20 212.35
2016-12-31 1,492.80 44.70 205.40
2016-06-30 1,396.00 -101.00 203.70
2016-03-31 1,417.85 -144.05 204.75
2015-12-31 1,439.70 -187.10 205.80
2015-06-30 1,655.90 81.60 194.40
2015-03-31 1,687.20 116.25 211.65
2014-12-31 1,718.50 150.90 228.90
2014-09-30 1,673.25 110.55 272.75
2014-06-30 1,587.80 78.70 266.20
2014-03-31 1,523.00 102.80 252.05
2013-12-31 1,458.20 126.90 237.90
2013-09-30 1,451.85 70.80 245.30
2013-06-30 1,445.50 14.70 252.70
2013-03-31 1,473.15 33.10 266.45
2012-12-31 1,500.80 51.50 280.20
2012-09-30 1,480.25 88.80 292.35
2012-06-30 1,459.70 126.10 304.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Icade has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Icade used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Icade's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Icade's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Icade has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CDMG.F Health

 How is Icade's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Icade's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Icade's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Icade's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Icade's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Icade Company Filings, last reported 4 months ago.

OTCPK:CDMG.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,936.70 6,317.40 634.60
2018-09-30 3,936.70 6,317.40 634.60
2018-06-30 3,811.70 6,331.50 355.50
2018-03-31 3,811.70 6,331.50 355.50
2017-12-31 4,127.30 5,999.60 488.30
2017-06-30 3,864.40 5,065.50 207.10
2017-03-31 3,864.40 5,065.50 207.10
2016-12-31 4,100.40 4,871.00 384.50
2016-06-30 3,992.10 5,710.80 1,036.30
2016-03-31 3,992.10 5,710.80 1,036.30
2015-12-31 4,267.50 4,751.00 587.70
2015-06-30 4,194.60 4,482.70 352.80
2015-03-31 4,194.60 4,482.70 352.80
2014-12-31 4,530.20 4,484.60 478.40
2014-09-30 4,530.20 4,484.60 478.40
2014-06-30 4,313.60 4,791.80 708.70
2014-03-31 4,313.60 4,791.80 708.70
2013-12-31 4,579.90 4,570.50 512.30
2013-09-30 4,579.90 4,570.50 512.30
2013-06-30 2,960.10 3,253.80 728.10
2013-03-31 2,960.10 3,253.80 728.10
2012-12-31 2,966.10 3,580.10 444.80
2012-09-30 2,966.10 3,580.10 444.80
2012-06-30 2,878.60 2,842.80 334.30
  • Icade's level of debt (160.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (99.9% vs 160.5% today).
  • Debt is not well covered by operating cash flow (5.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Icade's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Icade has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CDMG.F Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.95%
Current annual income from Icade dividends. Estimated to be 6.52% next year.
If you bought $2,000 of Icade shares you are expected to receive $119 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Icade's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Icade's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:CDMG.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:CDMG.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 5.60 1.00
2022-12-31 5.54 2.00
2021-12-31 5.16 6.00
2020-12-31 4.95 11.00
2019-12-31 4.81 6.00
OTCPK:CDMG.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-04 4.600 6.040
2018-04-25 4.300 5.636
2017-04-21 4.000 5.222
2016-04-28 3.730 5.576
2015-04-07 3.730 5.641
2015-02-18 3.730 4.649
2014-05-15 3.670 5.285
2013-03-08 3.640 5.354
2013-02-20 3.640 5.317
2012-07-26 3.300 5.018
2012-03-13 3.350 5.355
2012-02-17 3.350 5.331
2011-03-07 3.300 4.779
2011-02-16 3.300 4.057
2010-03-17 3.250 4.329
2010-02-17 3.250 4.332

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Icade has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Icade only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Icade's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (82.9x coverage).
X
Income/ dividend checks
We assess Icade's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Icade afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Icade has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CDMG.F Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Olivier Wigniolle
COMPENSATION €484,200
AGE 55
TENURE AS CEO 4.1 years
CEO Bio

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. Mr. Wigniolle served as the Chief Executive Officer and Managing Director of Allianz Real Estate France SAS and served as its Chairman from 2009 to 2015. He served as the Managing Director of Crédit Agricole Immobilier and served as its General Manager from 2005 to 2009. He served as Director General of Credit Agricole Immobilier. He served as the Deputy Managing Director in charge of the development and marketing arbitration policies at Societe Fonciere Lyonnaise from 2001 to 2005 and served as its Chief Operating Officer since 2005, Marketing Director since 2001 and Sales Manager. He served as Executive Deputy General Manager and Chief Operating Officer of Societe Fonciere Lyonnaise (SFL) from 1998 to 2005. He served as Sales Director of Bouygues Immobilier Conseil from 1997 to 1998 and served as its Commercial Director. He served as a Deputy Managing Director at SARI Conseil. He served as a Deputy Director of the Key Accounts Department at Auguste-Thouard from 1987 to 1993 and an Accountant & Financial Auditor at Arthur Andersen from 1985 to 1986. He served as an Associate Director of DTZ Jean Thouard from 1993 to 1997 and serves as its Member of the Board. Mr. Wigniolle is a graduate of HEC Business School.

CEO Compensation
  • Olivier's compensation has been consistent with company performance over the past year.
  • Olivier's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Icade management team in years:

3.6
Average Tenure
52
Average Age
  • The tenure for the Icade management team is about average.
Management Team

Olivier Wigniolle

TITLE
Chief Executive Officer
COMPENSATION
€484K
AGE
55
TENURE
4.1 yrs

Victoire Aubry

TITLE
Head of Finance
AGE
52
TENURE
3.7 yrs

Sophie Duval

TITLE
Head of Consolidation & Accounting

Jean d'Aillières

TITLE
Head of Investor Relations

Anne-Sophie Lanaute

TITLE
Director of Financial Communication and Investor Relations
TENURE
0.4 yrs

Laurent Poinsard

TITLE
Head of Audit
AGE
52
TENURE
3.6 yrs

Marianne de Battisti

TITLE
Head of Innovation
AGE
63
TENURE
1.5 yrs

Marc le Blanc

TITLE
Head of Human Resources & CSR
AGE
41
TENURE
1.3 yrs

Emmanuelle Baboulin

TITLE
Head of the Property Investment Division
AGE
52
TENURE
3.7 yrs

Xavier de La Sudrie

TITLE
Head of Financial Control
Board of Directors Tenure

Average tenure and age of the Icade board of directors in years:

2.8
Average Tenure
57.5
Average Age
  • The average tenure for the Icade board of directors is less than 3 years, this suggests a new board.
Board of Directors

Frédéric Thomas

TITLE
Chairman of the Board
COMPENSATION
€25K
AGE
62
TENURE
0.1 yrs

Florence Peronnau

TITLE
Vice Chairman of the Board & Lead Independent Director
COMPENSATION
€37K
AGE
60
TENURE
0.3 yrs

Marie-Christine Lambert

TITLE
Independent Director
COMPENSATION
€30K
AGE
65
TENURE
7.6 yrs

Nathalie Tessier

TITLE
Director
AGE
55
TENURE
4.1 yrs

Georges Ralli

TITLE
Independent Director
COMPENSATION
€51K
AGE
70
TENURE
3 yrs

Olivier Mareuse

TITLE
Director
AGE
55
TENURE
8 yrs

Jean-Paul Faugère

TITLE
Director
AGE
62
TENURE
6.4 yrs

Virginie Fernandes

TITLE
Director
COMPENSATION
€105K
AGE
44
TENURE
2.7 yrs

Sophie Quatrehomme

TITLE
Director
AGE
42
TENURE
1.2 yrs

Carole Abbey

TITLE
Director
AGE
42
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Icade's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Icade has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CDMG.F News

Simply Wall St News

CDMG.F Company Info

Description

As an investor and a developer, Icade is an integrated real estate player which 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 €11.3bn as of 12/31/18 on a proportionate consolidation basis) and as a property developer (2018 economic revenues of €1,251m), 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 is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse des dépôts Group.

Details
Name: Icade
CDMG.F
Exchange: OTCPK
Founded: 1954
€6,370,924,581
73,894,478
Website: http://www.icade.fr
Address: Icade
Open Building,
27 rue Camille Desmoulins,
Issy-les-Moulineaux,
Ile-de-France, 92130,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ICAD Ordinary Shares Euronext Paris FR EUR 01. Jan 1990
OTCPK CDMG.F Ordinary Shares Pink Sheets LLC US USD 01. Jan 1990
DB 3IC Ordinary Shares Deutsche Boerse AG DE EUR 01. Jan 1990
LSE 0K4O Ordinary Shares London Stock Exchange GB EUR 01. Jan 1990
BATS-CHIXE ICADP Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Jan 1990
Number of employees
Current staff
Staff numbers
1,150
Icade employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:24
End of day share price update: 2019/03/25 00:00
Last estimates confirmation: 2019/05/11
Last earnings filing: 2019/04/04
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.