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.
6 star dividend payer with proven track record.
Share Price & News
How has Icade's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CDMG.F has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CDMG.F matched the US REITs industry which returned 17.9% over the past year.
Return vs Market: CDMG.F underperformed the US Market which returned 24.7% over the past year.
Price Volatility Vs. Market
How volatile is Icade's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Icade 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: CDMG.F ($95.5) is trading below our estimate of fair value ($121.51)
Significantly Below Fair Value: CDMG.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CDMG.F is poor value based on its PE Ratio (41.9x) compared to the REITs industry average (37.8x).
PE vs Market: CDMG.F is poor value based on its PE Ratio (41.9x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: CDMG.F is poor value based on its PEG Ratio (6.9x)
Price to Book Ratio
PB vs Industry: CDMG.F is overvalued based on its PB Ratio (2.5x) compared to the US REITs industry average (2x).
How is Icade forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CDMG.F's forecast earnings growth (6.1% per year) is above the savings rate (1.7%).
Earnings vs Market: CDMG.F's earnings (6.1% per year) are forecast to grow slower than the US market (14.3% per year).
High Growth Earnings: CDMG.F's earnings are forecast to grow, but not significantly.
Revenue vs Market: CDMG.F's revenue (4.7% per year) is forecast to grow slower than the US market (7.5% per year).
High Growth Revenue: CDMG.F's revenue (4.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CDMG.F's Return on Equity is forecast to be low in 3 years time (10.4%).
How has Icade performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CDMG.F has a large one-off gain of €143.0M impacting its June 30 2019 financial results.
Growing Profit Margin: CDMG.F's current net profit margins (10.4%) are higher than last year (7.2%).
Past Earnings Growth Analysis
Earnings Trend: CDMG.F's earnings have grown significantly by 20.2% per year over the past 5 years.
Accelerating Growth: CDMG.F's earnings growth over the past year (46.2%) exceeds its 5-year average (20.2% per year).
Earnings vs Industry: CDMG.F earnings growth over the past year (46.2%) exceeded the REITs industry 8.1%.
Return on Equity
High ROE: CDMG.F's Return on Equity (5.8%) is considered low.
Return on Assets
Return on Capital Employed
How is Icade's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: CDMG.F has a high level of physical assets or inventory.
Debt Coverage by Assets: CDMG.F's debt is not covered by short term assets (assets are 0.4x debt).
Financial Institutions Analysis
Asset Level: CDMG.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if CDMG.F has a sufficient allowance for bad loans.
Low Risk Liabilities: CDMG.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if CDMG.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: CDMG.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if CDMG.F has an appropriate level of bad loans.
What is Icade's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: CDMG.F's dividend (4.7%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: CDMG.F's dividend (4.7%) is in the top 25% of dividend payers in the US market (3.66%)
Stability and Growth of Payments
Stable Dividend: CDMG.F's dividends per share have been stable in the past 10 years.
Growing Dividend: CDMG.F's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (49.1%), CDMG.F's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CDMG.F's dividends in 3 years are forecast to be thoroughly covered by earnings (1.3% payout ratio).
What is the CEO of Icade's salary, the management and board of directors tenure and is there insider trading?
Average management tenure
Olivier Wigniolle (56yo)
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. He is a Managing Director of Ica ...
CEO Compensation Analysis
Compensation vs Market: Olivier's total compensation ($USD538.66K) is below average for companies of similar size in the US market ($USD6.46M).
Compensation vs Earnings: Olivier's compensation has been consistent with company performance over the past year.
Management Age and Tenure
Experienced Management: CDMG.F's management team is considered experienced (4.3 years average tenure).
Board Age and Tenure
Experienced Board: CDMG.F's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.
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.
Olivier Wigniolle (56yo)
MD & CEO
- Tenure: 4.8yrs
- Compensation: €484.20k
Marianne de Battisti (64yo)
Head of Innovation
- Tenure: 2.2yrs
Laurent Poinsard (53yo)
Head of Audit
- Tenure: 4.3yrs
Emmanuelle Baboulin (53yo)
Head of Tertiary Land Divsion
- Tenure: 4.3yrs
Victoire Aubry (53yo)
Head of Finance
- Tenure: 4.3yrs
Xavier de La Sudrie
Head of Financial Control
Head of Investor Relations
Marc le Blanc (42yo)
Head of Human Resources & CSR
- Tenure: 2yrs
Director of Financial Communication & Investor Relations
- Tenure: 1.1yrs
Head of Consolidation & Accounting
Georges Ralli (71yo)
- Tenure: 3.7yrs
- Compensation: €50.80k
Marie-Christine Lambert (66yo)
- Tenure: 8.3yrs
- Compensation: €29.80k
Frédéric Thomas (63yo)
Chairman of the Board
- Tenure: 0.8yrs
- Compensation: €24.50k
Olivier Mareuse (56yo)
- Tenure: 8.7yrs
Jean-Paul Faugère (63yo)
- Tenure: 7.1yrs
Jean-Marc Morin (68yo)
- Tenure: 1.8yrs
Sophie Quatrehomme (43yo)
- Tenure: 1.8yrs
Florence Peronnau (61yo)
Vice Chairman of the Board & Lead Independent Director
- Tenure: 1yrs
- Compensation: €36.80k
Virginie Fernandes (45yo)
- Tenure: 3.3yrs
- Compensation: €105.00k
Carole Abbey (43yo)
- Tenure: 1.8yrs
Icade's company bio, employee growth, exchange listings and data sources
- Name: Icade
- Ticker: CDMG.F
- Exchange: OTCPK
- Founded: 1954
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: €7.350b
- Listing Market Cap: €8.182b
- Shares outstanding: 73.90m
- Website: https://www.icade.fr
Number of Employees
- Open Building
- 27 rue Camille Desmoulins
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ICAD||ENXTPA (Euronext Paris)||Yes||Ordinary Shares||FR||EUR||Jan 1990|
|0K4O||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||EUR||Jan 1990|
|CDMG.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Jan 1990|
|3IC||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Jan 1990|
|ICADP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||EUR||Jan 1990|
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 €11.7bn as of 06/30/2019 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.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/01/17 01:57|
|End of Day Share Price||2019/10/29 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.