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FONCIERE INEA (INEA.PA) Stock Fundamental Analysis

EPA:INEA - Euronext Paris - Matif - FR0010341032 - REIT - Currency: EUR

34.5  +0.6 (+1.77%)

Fundamental Rating

3

Overall INEA gets a fundamental rating of 3 out of 10. We evaluated INEA against 41 industry peers in the Diversified REITs industry. While INEA is still in line with the averages on profitability rating, there are concerns on its financial health. While showing a medium growth rate, INEA is valued expensive at the moment. INEA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year INEA has reported negative net income.
INEA had a positive operating cash flow in the past year.
Of the past 5 years INEA 4 years were profitable.
INEA had a positive operating cash flow in each of the past 5 years.
INEA.PA Yearly Net Income VS EBIT VS OCF VS FCFINEA.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 20M 40M 60M

1.2 Ratios

INEA has a Return On Assets of -0.25%. This is in the lower half of the industry: INEA underperforms 70.73% of its industry peers.
With a Return On Equity value of -0.55%, INEA is not doing good in the industry: 70.73% of the companies in the same industry are doing better.
With a Return On Invested Capital value of 3.21%, INEA perfoms like the industry average, outperforming 46.34% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for INEA is in line with the industry average of 3.57%.
The 3 year average ROIC (2.81%) for INEA is below the current ROIC(3.21%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.25%
ROE -0.55%
ROIC 3.21%
ROA(3y)2.33%
ROA(5y)3.54%
ROE(3y)4.2%
ROE(5y)6.76%
ROIC(3y)2.81%
ROIC(5y)2.84%
INEA.PA Yearly ROA, ROE, ROICINEA.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

1.3 Margins

INEA has a worse Operating Margin (61.98%) than 63.41% of its industry peers.
INEA's Operating Margin has improved in the last couple of years.
The Gross Margin of INEA (72.21%) is comparable to the rest of the industry.
INEA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 61.98%
PM (TTM) N/A
GM 72.21%
OM growth 3Y0.58%
OM growth 5Y1.79%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.57%
GM growth 5Y0.31%
INEA.PA Yearly Profit, Operating, Gross MarginsINEA.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

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1

2. Health

2.1 Basic Checks

INEA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
INEA has about the same amout of shares outstanding than it did 1 year ago.
INEA has more shares outstanding than it did 5 years ago.
INEA has a worse debt/assets ratio than last year.
INEA.PA Yearly Shares OutstandingINEA.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
INEA.PA Yearly Total Debt VS Total AssetsINEA.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

INEA has an Altman-Z score of 0.81. This is a bad value and indicates that INEA is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.81, INEA is not doing good in the industry: 63.41% of the companies in the same industry are doing better.
The Debt to FCF ratio of INEA is 10.20, which is on the high side as it means it would take INEA, 10.20 years of fcf income to pay off all of its debts.
INEA has a better Debt to FCF ratio (10.20) than 70.73% of its industry peers.
INEA has a Debt/Equity ratio of 1.00. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of INEA (1.00) is worse than 78.05% of its industry peers.
Industry RankSector Rank
Debt/Equity 1
Debt/FCF 10.2
Altman-Z 0.81
ROIC/WACC0.59
WACC5.42%
INEA.PA Yearly LT Debt VS Equity VS FCFINEA.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

A Current Ratio of 0.33 indicates that INEA may have some problems paying its short term obligations.
INEA has a worse Current ratio (0.33) than 65.85% of its industry peers.
A Quick Ratio of 0.33 indicates that INEA may have some problems paying its short term obligations.
INEA's Quick ratio of 0.33 is on the low side compared to the rest of the industry. INEA is outperformed by 63.41% of its industry peers.
Industry RankSector Rank
Current Ratio 0.33
Quick Ratio 0.33
INEA.PA Yearly Current Assets VS Current LiabilitesINEA.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M

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4

3. Growth

3.1 Past

INEA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -114.03%.
INEA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.54%.
Measured over the past years, INEA shows a quite strong growth in Revenue. The Revenue has been growing by 12.20% on average per year.
EPS 1Y (TTM)-114.03%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%18.03%
Revenue 1Y (TTM)15.54%
Revenue growth 3Y14.54%
Revenue growth 5Y12.2%
Sales Q2Q%14.16%

3.2 Future

The Earnings Per Share is expected to grow by 10.15% on average over the next years. This is quite good.
INEA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.80% yearly.
EPS Next Y4.28%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue Next Year8.54%
Revenue Next 2Y6.96%
Revenue Next 3Y11.41%
Revenue Next 5Y3.8%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
INEA.PA Yearly Revenue VS EstimatesINEA.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20M 40M 60M 80M 100M
INEA.PA Yearly EPS VS EstimatesINEA.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for INEA. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 13.42, which indicates a correct valuation of INEA.
Based on the Price/Forward Earnings ratio, INEA is valued a bit more expensive than the industry average as 65.85% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 37.54. INEA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 13.42
INEA.PA Price Earnings VS Forward Price EarningsINEA.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -50 -100

4.2 Price Multiples

INEA's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, INEA is valued cheaply inside the industry as 97.56% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.07
EV/EBITDA 20.43
INEA.PA Per share dataINEA.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates INEA does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y8.98%
EPS Next 3Y10.15%

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7

5. Dividend

5.1 Amount

INEA has a Yearly Dividend Yield of 7.96%, which is a nice return.
Compared to an average industry Dividend Yield of 5.60, INEA pays a better dividend. On top of this INEA pays more dividend than 95.12% of the companies listed in the same industry.
INEA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 7.96%

5.2 History

The dividend of INEA has a limited annual growth rate of 1.13%.
Dividend Growth(5Y)1.13%
Div Incr Years1
Div Non Decr Years1
INEA.PA Yearly Dividends per shareINEA.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

The earnings of INEA are negative and hence is the payout ratio. INEA will probably not be able to sustain this dividend level.
INEA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-966.43%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
INEA.PA Yearly Income VS Free CF VS DividendINEA.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 20M 40M 60M

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FONCIERE INEA

EPA:INEA (7/24/2025, 7:00:00 PM)

34.5

+0.6 (+1.77%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)04-29 2025-04-29
Earnings (Next)N/A N/A
Inst Owners7.82%
Inst Owner ChangeN/A
Ins Owners9.97%
Ins Owner ChangeN/A
Market Cap373.98M
Analysts77.78
Price Target38.3 (11.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.96%
Yearly Dividend2.7
Dividend Growth(5Y)1.13%
DP-966.43%
Div Incr Years1
Div Non Decr Years1
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)4.11%
PT rev (3m)4.11%
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)-0.36%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 13.42
P/S 4.79
P/FCF 6.07
P/OCF 6.07
P/B 0.68
P/tB 0.68
EV/EBITDA 20.43
EPS(TTM)-0.28
EYN/A
EPS(NY)2.57
Fwd EY7.45%
FCF(TTM)5.69
FCFY16.48%
OCF(TTM)5.69
OCFY16.48%
SpS7.2
BVpS51.01
TBVpS51.01
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.25%
ROE -0.55%
ROCE 4.36%
ROIC 3.21%
ROICexc 3.23%
ROICexgc 3.23%
OM 61.98%
PM (TTM) N/A
GM 72.21%
FCFM 79%
ROA(3y)2.33%
ROA(5y)3.54%
ROE(3y)4.2%
ROE(5y)6.76%
ROIC(3y)2.81%
ROIC(5y)2.84%
ROICexc(3y)2.82%
ROICexc(5y)2.86%
ROICexgc(3y)2.82%
ROICexgc(5y)2.86%
ROCE(3y)3.83%
ROCE(5y)3.87%
ROICexcg growth 3Y2.87%
ROICexcg growth 5Y3.12%
ROICexc growth 3Y2.9%
ROICexc growth 5Y3.15%
OM growth 3Y0.58%
OM growth 5Y1.79%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.57%
GM growth 5Y0.31%
F-Score3
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 1
Debt/FCF 10.2
Debt/EBITDA 11.39
Cap/Depr 4.92%
Cap/Sales 0.02%
Interest Coverage 1.53
Cash Conversion 126.54%
Profit Quality N/A
Current Ratio 0.33
Quick Ratio 0.33
Altman-Z 0.81
F-Score3
WACC5.42%
ROIC/WACC0.59
Cap/Depr(3y)8.98%
Cap/Depr(5y)76.3%
Cap/Sales(3y)0.04%
Cap/Sales(5y)0.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-114.03%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%18.03%
EPS Next Y4.28%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue 1Y (TTM)15.54%
Revenue growth 3Y14.54%
Revenue growth 5Y12.2%
Sales Q2Q%14.16%
Revenue Next Year8.54%
Revenue Next 2Y6.96%
Revenue Next 3Y11.41%
Revenue Next 5Y3.8%
EBIT growth 1Y15.46%
EBIT growth 3Y15.21%
EBIT growth 5Y14.21%
EBIT Next Year100.62%
EBIT Next 3YN/A
EBIT Next 5Y19.02%
FCF growth 1Y106.48%
FCF growth 3Y32.5%
FCF growth 5Y32.16%
OCF growth 1Y106.47%
OCF growth 3Y31.59%
OCF growth 5Y32.17%