Fonciere Lyonnaise (FLY.PA) Stock Fundamental Analysis
Europe - EPA:FLY - FR0000033409 - REIT
73.8 EUR
+2.8 (+3.94%)
Overall FLY gets a fundamental rating of 4 out of 10. We evaluated FLY against 42 industry peers in the Diversified REITs industry. While FLY is still in line with the averages on profitability rating, there are concerns on its financial health. FLY is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FLY was profitable.
FLY had a positive operating cash flow in the past year.
FLY had positive earnings in 4 of the past 5 years.
FLY had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of FLY (2.97%) is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 6.35%, FLY is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
With a Return On Invested Capital value of 2.12%, FLY is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
Measured over the past 3 years, the Average Return On Invested Capital for FLY is in line with the industry average of 3.40%.
The 3 year average ROIC (2.02%) for FLY is below the current ROIC(2.12%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.97% | ||
| ROE | 6.35% | ||
| ROIC | 2.12% |
ROA(3y)-1.39%
ROA(5y)0.69%
ROE(3y)-3.03%
ROE(5y)0.75%
ROIC(3y)2.02%
ROIC(5y)1.81%
1.3 Margins
FLY has a better Profit Margin (92.16%) than 88.10% of its industry peers.
FLY's Profit Margin has declined in the last couple of years.
FLY has a better Operating Margin (86.50%) than 90.48% of its industry peers.
FLY's Operating Margin has been stable in the last couple of years.
FLY has a better Gross Margin (96.74%) than 92.86% of its industry peers.
FLY's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 86.5% | ||
| PM (TTM) | 92.16% | ||
| GM | 96.74% |
OM growth 3Y4.42%
OM growth 5Y0.13%
PM growth 3Y-20.77%
PM growth 5Y-22.47%
GM growth 3Y0.7%
GM growth 5Y0.33%
2. Health
2.1 Basic Checks
FLY has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
FLY has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for FLY has been reduced compared to 5 years ago.
The debt/assets ratio for FLY is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.10, we must say that FLY is in the distress zone and has some risk of bankruptcy.
FLY has a better Altman-Z score (1.10) than 71.43% of its industry peers.
The Debt to FCF ratio of FLY is 22.19, which is on the high side as it means it would take FLY, 22.19 years of fcf income to pay off all of its debts.
FLY has a Debt to FCF ratio of 22.19. This is comparable to the rest of the industry: FLY outperforms 40.48% of its industry peers.
FLY has a Debt/Equity ratio of 0.78. This is a neutral value indicating FLY is somewhat dependend on debt financing.
The Debt to Equity ratio of FLY (0.78) is worse than 61.90% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.78 | ||
| Debt/FCF | 22.19 | ||
| Altman-Z | 1.1 |
ROIC/WACC0.39
WACC5.45%
2.3 Liquidity
FLY has a Current Ratio of 0.20. This is a bad value and indicates that FLY is not financially healthy enough and could expect problems in meeting its short term obligations.
FLY has a Current ratio of 0.20. This is in the lower half of the industry: FLY underperforms 71.43% of its industry peers.
A Quick Ratio of 0.20 indicates that FLY may have some problems paying its short term obligations.
FLY has a Quick ratio of 0.20. This is in the lower half of the industry: FLY underperforms 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.2 | ||
| Quick Ratio | 0.2 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 159.68% over the past year.
The earnings per share for FLY have been decreasing by -17.63% on average. This is quite bad
Looking at the last year, FLY shows a small growth in Revenue. The Revenue has grown by 2.11% in the last year.
The Revenue has been growing slightly by 4.60% on average over the past years.
EPS 1Y (TTM)159.68%
EPS 3Y-9.45%
EPS 5Y-17.63%
EPS Q2Q%29.81%
Revenue 1Y (TTM)2.11%
Revenue growth 3Y12.53%
Revenue growth 5Y4.6%
Sales Q2Q%0.81%
3.2 Future
The Earnings Per Share is expected to decrease by -1.02% on average over the next years.
The Revenue is expected to grow by 5.70% on average over the next years.
EPS Next Y-12.34%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPS Next 5YN/A
Revenue Next Year-0.95%
Revenue Next 2Y4.7%
Revenue Next 3Y5.7%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 13.79 indicates a correct valuation of FLY.
The rest of the industry has a similar Price/Earnings ratio as FLY.
When comparing the Price/Earnings ratio of FLY to the average of the S&P500 Index (27.76), we can say FLY is valued rather cheaply.
With a Price/Forward Earnings ratio of 26.77, FLY can be considered very expensive at the moment.
FLY's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. FLY is more expensive than 76.19% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.21. FLY is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.79 | ||
| Fwd PE | 26.77 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FLY indicates a slightly more expensive valuation: FLY is more expensive than 71.43% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, FLY is valued a bit more expensive than 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.92 | ||
| EV/EBITDA | 25.02 |
4.3 Compensation for Growth
The decent profitability rating of FLY may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.01%, FLY is a good candidate for dividend investing.
FLY's Dividend Yield is slightly below the industry average, which is at 5.55.
Compared to an average S&P500 Dividend Yield of 2.44, FLY pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
5.2 History
The dividend of FLY decreases each year by -1.96%.
Dividend Growth(5Y)-1.96%
Div Incr Years0
Div Non Decr Years3
5.3 Sustainability
53.17% of the earnings are spent on dividend by FLY. This is a bit on the high side, but may be sustainable.
FLY's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP53.17%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPA:FLY (9/30/2025, 7:00:00 PM)
73.8
+2.8 (+3.94%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.29%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap3.17B
Analysts42.86
Price Target74.26 (0.62%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
Yearly Dividend2.4
Dividend Growth(5Y)-1.96%
DP53.17%
Div Incr Years0
Div Non Decr Years3
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)0.76%
PT rev (3m)0.76%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.79 | ||
| Fwd PE | 26.77 | ||
| P/S | 12.71 | ||
| P/FCF | 24.92 | ||
| P/OCF | 28.4 | ||
| P/B | 0.88 | ||
| P/tB | 0.88 | ||
| EV/EBITDA | 25.02 |
EPS(TTM)5.35
EY7.25%
EPS(NY)2.76
Fwd EY3.74%
FCF(TTM)2.96
FCFY4.01%
OCF(TTM)2.6
OCFY3.52%
SpS5.81
BVpS84.22
TBVpS84.13
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.97% | ||
| ROE | 6.35% | ||
| ROCE | 3.07% | ||
| ROIC | 2.12% | ||
| ROICexc | 2.14% | ||
| ROICexgc | 2.14% | ||
| OM | 86.5% | ||
| PM (TTM) | 92.16% | ||
| GM | 96.74% | ||
| FCFM | 51% |
ROA(3y)-1.39%
ROA(5y)0.69%
ROE(3y)-3.03%
ROE(5y)0.75%
ROIC(3y)2.02%
ROIC(5y)1.81%
ROICexc(3y)2.04%
ROICexc(5y)1.83%
ROICexgc(3y)2.04%
ROICexgc(5y)1.83%
ROCE(3y)2.89%
ROCE(5y)2.55%
ROICexcg growth 3Y19.38%
ROICexcg growth 5Y4.47%
ROICexc growth 3Y19.37%
ROICexc growth 5Y4.46%
OM growth 3Y4.42%
OM growth 5Y0.13%
PM growth 3Y-20.77%
PM growth 5Y-22.47%
GM growth 3Y0.7%
GM growth 5Y0.33%
F-Score4
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.78 | ||
| Debt/FCF | 22.19 | ||
| Debt/EBITDA | 12.98 | ||
| Cap/Depr | 1039.88% | ||
| Cap/Sales | 6.25% | ||
| Interest Coverage | 3.49 | ||
| Cash Conversion | 51.38% | ||
| Profit Quality | 55.34% | ||
| Current Ratio | 0.2 | ||
| Quick Ratio | 0.2 | ||
| Altman-Z | 1.1 |
F-Score4
WACC5.45%
ROIC/WACC0.39
Cap/Depr(3y)454.49%
Cap/Depr(5y)335.66%
Cap/Sales(3y)3.65%
Cap/Sales(5y)2.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)159.68%
EPS 3Y-9.45%
EPS 5Y-17.63%
EPS Q2Q%29.81%
EPS Next Y-12.34%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPS Next 5YN/A
Revenue 1Y (TTM)2.11%
Revenue growth 3Y12.53%
Revenue growth 5Y4.6%
Sales Q2Q%0.81%
Revenue Next Year-0.95%
Revenue Next 2Y4.7%
Revenue Next 3Y5.7%
Revenue Next 5YN/A
EBIT growth 1Y0.91%
EBIT growth 3Y17.5%
EBIT growth 5Y4.74%
EBIT Next Year-22.09%
EBIT Next 3Y-2.52%
EBIT Next 5YN/A
FCF growth 1Y19.59%
FCF growth 3Y-3.92%
FCF growth 5Y-7.28%
OCF growth 1Y-11%
OCF growth 3Y-3.24%
OCF growth 5Y-6.82%