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COVIVIO (COV.PA) Stock Fundamental Analysis

Europe - EPA:COV - FR0000064578 - REIT

58.175 EUR
-0.28 (-0.47%)
Last: 10/21/2025, 11:07:05 AM
Fundamental Rating

3

Overall COV gets a fundamental rating of 3 out of 10. We evaluated COV against 40 industry peers in the Diversified REITs industry. While COV is still in line with the averages on profitability rating, there are concerns on its financial health. COV is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

COV had positive earnings in the past year.
In the past year COV had a positive cash flow from operations.
COV had positive earnings in 4 of the past 5 years.
In the past 5 years COV always reported a positive cash flow from operatings.
COV.PA Yearly Net Income VS EBIT VS OCF VS FCFCOV.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B -1B

1.2 Ratios

COV's Return On Assets of 1.63% is in line compared to the rest of the industry. COV outperforms 47.50% of its industry peers.
Looking at the Return On Equity, with a value of 5.08%, COV is in line with its industry, outperforming 52.50% of the companies in the same industry.
COV has a Return On Invested Capital (3.21%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for COV is in line with the industry average of 3.49%.
The last Return On Invested Capital (3.21%) for COV is above the 3 year average (2.97%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.63%
ROE 5.08%
ROIC 3.21%
ROA(3y)-1.05%
ROA(5y)0.29%
ROE(3y)-3.48%
ROE(5y)0.76%
ROIC(3y)2.97%
ROIC(5y)2.68%
COV.PA Yearly ROA, ROE, ROICCOV.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10

1.3 Margins

Looking at the Profit Margin, with a value of 30.46%, COV is in line with its industry, outperforming 47.50% of the companies in the same industry.
COV's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 57.81%, COV is doing worse than 65.00% of the companies in the same industry.
In the last couple of years the Operating Margin of COV has remained more or less at the same level.
Looking at the Gross Margin, with a value of 74.42%, COV is in line with its industry, outperforming 55.00% of the companies in the same industry.
COV's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 57.81%
PM (TTM) 30.46%
GM 74.42%
OM growth 3Y-1.46%
OM growth 5Y-1.11%
PM growth 3Y-61.53%
PM growth 5Y-38.78%
GM growth 3Y-2.18%
GM growth 5Y-0.89%
COV.PA Yearly Profit, Operating, Gross MarginsCOV.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

1

2. Health

2.1 Basic Checks

COV has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
COV has more shares outstanding than it did 1 year ago.
The number of shares outstanding for COV has been increased compared to 5 years ago.
COV has a better debt/assets ratio than last year.
COV.PA Yearly Shares OutstandingCOV.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
COV.PA Yearly Total Debt VS Total AssetsCOV.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

COV has an Altman-Z score of 0.54. This is a bad value and indicates that COV is not financially healthy and even has some risk of bankruptcy.
COV has a Altman-Z score of 0.54. This is in the lower half of the industry: COV underperforms 70.00% of its industry peers.
COV has a debt to FCF ratio of 28.44. This is a negative value and a sign of low solvency as COV would need 28.44 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 28.44, COV is doing worse than 72.50% of the companies in the same industry.
COV has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
COV has a worse Debt to Equity ratio (1.07) than 80.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 28.44
Altman-Z 0.54
ROIC/WACC0.55
WACC5.85%
COV.PA Yearly LT Debt VS Equity VS FCFCOV.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

COV has a Current Ratio of 0.76. This is a bad value and indicates that COV is not financially healthy enough and could expect problems in meeting its short term obligations.
COV's Current ratio of 0.76 is fine compared to the rest of the industry. COV outperforms 67.50% of its industry peers.
COV has a Quick Ratio of 0.76. This is a bad value and indicates that COV is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.69, COV is doing good in the industry, outperforming 65.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.76
Quick Ratio 0.69
COV.PA Yearly Current Assets VS Current LiabilitesCOV.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

5

3. Growth

3.1 Past

COV shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.98%.
COV shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.39% yearly.
COV shows a strong growth in Revenue. In the last year, the Revenue has grown by 27.96%.
COV shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.17% yearly.
EPS 1Y (TTM)5.98%
EPS 3Y0.91%
EPS 5Y-3.39%
EPS Q2Q%6.25%
Revenue 1Y (TTM)27.96%
Revenue growth 3Y9.01%
Revenue growth 5Y1.17%
Sales Q2Q%-30.61%

3.2 Future

COV is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.36% yearly.
The Revenue is expected to grow by 4.04% on average over the next years.
EPS Next Y5.08%
EPS Next 2Y3.26%
EPS Next 3Y3.36%
EPS Next 5YN/A
Revenue Next Year1.82%
Revenue Next 2Y3.23%
Revenue Next 3Y4.04%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
COV.PA Yearly Revenue VS EstimatesCOV.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
COV.PA Yearly EPS VS EstimatesCOV.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4 5

3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.62, which indicates a correct valuation of COV.
Based on the Price/Earnings ratio, COV is valued a bit cheaper than 62.50% of the companies in the same industry.
When comparing the Price/Earnings ratio of COV to the average of the S&P500 Index (27.69), we can say COV is valued rather cheaply.
COV is valuated correctly with a Price/Forward Earnings ratio of 12.21.
62.50% of the companies in the same industry are cheaper than COV, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.18, COV is valued a bit cheaper.
Industry RankSector Rank
PE 12.62
Fwd PE 12.21
COV.PA Price Earnings VS Forward Price EarningsCOV.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as COV.
62.50% of the companies in the same industry are cheaper than COV, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 16.51
EV/EBITDA 17.33
COV.PA Per share dataCOV.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.48
PEG (5Y)N/A
EPS Next 2Y3.26%
EPS Next 3Y3.36%

4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.01%, COV is a good candidate for dividend investing.
COV's Dividend Yield is a higher than the industry average which is at 5.84.
COV's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
Industry RankSector Rank
Dividend Yield 6.01%

5.2 History

The dividend of COV decreases each year by -1.54%.
Dividend Growth(5Y)-1.54%
Div Incr Years2
Div Non Decr Years2
COV.PA Yearly Dividends per shareCOV.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

COV pays out 92.95% of its income as dividend. This is not a sustainable payout ratio.
DP92.95%
EPS Next 2Y3.26%
EPS Next 3Y3.36%
COV.PA Yearly Income VS Free CF VS DividendCOV.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B
COV.PA Dividend Payout.COV.PA Dividend Payout, showing the Payout Ratio.COV.PA Dividend Payout.PayoutRetained Earnings

COVIVIO

EPA:COV (10/21/2025, 11:07:05 AM)

58.175

-0.28 (-0.47%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)07-21 2025-07-21/bmo
Earnings (Next)02-17 2026-02-17/amc
Inst Owners41.52%
Inst Owner ChangeN/A
Ins Owners0.27%
Ins Owner ChangeN/A
Market Cap6.49B
Analysts81.25
Price Target64.25 (10.44%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.01%
Yearly Dividend0.72
Dividend Growth(5Y)-1.54%
DP92.95%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)5.79%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-4.52%
EPS NY rev (3m)-2.25%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)2.73%
Revenue NY rev (3m)2.25%
Valuation
Industry RankSector Rank
PE 12.62
Fwd PE 12.21
P/S 4.73
P/FCF 16.51
P/OCF 6.47
P/B 0.79
P/tB 0.82
EV/EBITDA 17.33
EPS(TTM)4.61
EY7.92%
EPS(NY)4.77
Fwd EY8.19%
FCF(TTM)3.52
FCFY6.06%
OCF(TTM)8.99
OCFY15.46%
SpS12.29
BVpS73.66
TBVpS70.57
PEG (NY)2.48
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.63%
ROE 5.08%
ROCE 3.59%
ROIC 3.21%
ROICexc 3.42%
ROICexgc 3.48%
OM 57.81%
PM (TTM) 30.46%
GM 74.42%
FCFM 28.68%
ROA(3y)-1.05%
ROA(5y)0.29%
ROE(3y)-3.48%
ROE(5y)0.76%
ROIC(3y)2.97%
ROIC(5y)2.68%
ROICexc(3y)3.08%
ROICexc(5y)2.79%
ROICexgc(3y)3.11%
ROICexgc(5y)2.81%
ROCE(3y)3.32%
ROCE(5y)3%
ROICexcg growth 3Y12.16%
ROICexcg growth 5Y0.31%
ROICexc growth 3Y11.77%
ROICexc growth 5Y0.14%
OM growth 3Y-1.46%
OM growth 5Y-1.11%
PM growth 3Y-61.53%
PM growth 5Y-38.78%
GM growth 3Y-2.18%
GM growth 5Y-0.89%
F-Score7
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 28.44
Debt/EBITDA 9.39
Cap/Depr 417.19%
Cap/Sales 44.51%
Interest Coverage 250
Cash Conversion 106.87%
Profit Quality 94.14%
Current Ratio 0.76
Quick Ratio 0.69
Altman-Z 0.54
F-Score7
WACC5.85%
ROIC/WACC0.55
Cap/Depr(3y)709.28%
Cap/Depr(5y)708.5%
Cap/Sales(3y)50.08%
Cap/Sales(5y)56.76%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5.98%
EPS 3Y0.91%
EPS 5Y-3.39%
EPS Q2Q%6.25%
EPS Next Y5.08%
EPS Next 2Y3.26%
EPS Next 3Y3.36%
EPS Next 5YN/A
Revenue 1Y (TTM)27.96%
Revenue growth 3Y9.01%
Revenue growth 5Y1.17%
Sales Q2Q%-30.61%
Revenue Next Year1.82%
Revenue Next 2Y3.23%
Revenue Next 3Y4.04%
Revenue Next 5YN/A
EBIT growth 1Y-0.73%
EBIT growth 3Y7.42%
EBIT growth 5Y0.05%
EBIT Next Year12.82%
EBIT Next 3Y8.12%
EBIT Next 5Y7.56%
FCF growth 1Y42.08%
FCF growth 3YN/A
FCF growth 5Y31.13%
OCF growth 1Y30.56%
OCF growth 3Y12.5%
OCF growth 5Y4.86%