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PATRIZIA SE (PAT.DE) Stock Fundamental Analysis

FRA:PAT - Deutsche Boerse Ag - DE000PAT1AG3 - Common Stock - Currency: EUR

7.52  -0.03 (-0.4%)

Fundamental Rating

4

Overall PAT gets a fundamental rating of 4 out of 10. We evaluated PAT against 71 industry peers in the Real Estate Management & Development industry. PAT has only an average score on both its financial health and profitability. PAT does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

PAT had negative earnings in the past year.
PAT had a positive operating cash flow in the past year.
Of the past 5 years PAT 4 years were profitable.
Each year in the past 5 years PAT had a positive operating cash flow.
PAT.DE Yearly Net Income VS EBIT VS OCF VS FCFPAT.DE 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 100M 200M 300M 400M 500M

1.2 Ratios

The Return On Assets of PAT (0.78%) is comparable to the rest of the industry.
PAT has a Return On Equity (1.23%) which is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 0.68%, PAT is in line with its industry, outperforming 46.48% of the companies in the same industry.
Industry RankSector Rank
ROA 0.78%
ROE 1.23%
ROIC 0.68%
ROA(3y)0.26%
ROA(5y)1.01%
ROE(3y)0.42%
ROE(5y)1.61%
ROIC(3y)N/A
ROIC(5y)N/A
PAT.DE Yearly ROA, ROE, ROICPAT.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

1.3 Margins

PAT has a better Profit Margin (5.21%) than 60.56% of its industry peers.
PAT's Profit Margin has declined in the last couple of years.
PAT has a Operating Margin of 6.08%. This is comparable to the rest of the industry: PAT outperforms 50.70% of its industry peers.
With an excellent Gross Margin value of 93.34%, PAT belongs to the best of the industry, outperforming 90.14% of the companies in the same industry.
PAT's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 6.08%
PM (TTM) 5.21%
GM 93.34%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-30.6%
PM growth 5Y-17.61%
GM growth 3Y-0.22%
GM growth 5Y3.27%
PAT.DE Yearly Profit, Operating, Gross MarginsPAT.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PAT is destroying value.
Compared to 1 year ago, PAT has more shares outstanding
The number of shares outstanding for PAT has been reduced compared to 5 years ago.
PAT has a better debt/assets ratio than last year.
PAT.DE Yearly Shares OutstandingPAT.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
PAT.DE Yearly Total Debt VS Total AssetsPAT.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

PAT has an Altman-Z score of 1.60. This is a bad value and indicates that PAT is not financially healthy and even has some risk of bankruptcy.
PAT has a Altman-Z score of 1.60. This is in the better half of the industry: PAT outperforms 73.24% of its industry peers.
PAT has a Debt/Equity ratio of 0.29. This is a healthy value indicating a solid balance between debt and equity.
PAT's Debt to Equity ratio of 0.29 is fine compared to the rest of the industry. PAT outperforms 69.01% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Altman-Z 1.6
ROIC/WACC0.12
WACC5.92%
PAT.DE Yearly LT Debt VS Equity VS FCFPAT.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

PAT has a Current Ratio of 1.95. This is a normal value and indicates that PAT is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.95, PAT is in line with its industry, outperforming 56.34% of the companies in the same industry.
A Quick Ratio of 1.95 indicates that PAT should not have too much problems paying its short term obligations.
PAT has a Quick ratio of 1.95. This is in the better half of the industry: PAT outperforms 66.20% of its industry peers.
Industry RankSector Rank
Current Ratio 1.95
Quick Ratio 1.95
PAT.DE Yearly Current Assets VS Current LiabilitesPAT.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

PAT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -200.00%.
Measured over the past years, PAT shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -24.16% on average per year.
PAT shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -10.45%.
PAT shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -8.51% yearly.
EPS 1Y (TTM)-200%
EPS 3Y-35.21%
EPS 5Y-24.16%
EPS Q2Q%11.34%
Revenue 1Y (TTM)-10.45%
Revenue growth 3Y-7.02%
Revenue growth 5Y-8.51%
Sales Q2Q%3.07%

3.2 Future

PAT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 103.79% yearly.
The Revenue is expected to grow by 1.37% on average over the next years.
EPS Next Y405.53%
EPS Next 2Y167.41%
EPS Next 3Y103.79%
EPS Next 5YN/A
Revenue Next Year-0.68%
Revenue Next 2Y2.64%
Revenue Next 3Y3.65%
Revenue Next 5Y1.37%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
PAT.DE Yearly Revenue VS EstimatesPAT.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M 800M
PAT.DE Yearly EPS VS EstimatesPAT.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1 1.5 2 2.5

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3

4. Valuation

4.1 Price/Earnings Ratio

PAT reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
The Price/Forward Earnings ratio is 29.20, which means the current valuation is very expensive for PAT.
The rest of the industry has a similar Price/Forward Earnings ratio as PAT.
PAT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 34.04, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 29.2
PAT.DE Price Earnings VS Forward Price EarningsPAT.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -50 -100 -150

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PAT indicates a somewhat cheap valuation: PAT is cheaper than 73.24% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 18.72
PAT.DE Per share dataPAT.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

PAT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as PAT's earnings are expected to grow with 103.79% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y167.41%
EPS Next 3Y103.79%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.64%, PAT is a good candidate for dividend investing.
PAT's Dividend Yield is a higher than the industry average which is at 7.85.
PAT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 4.64%

5.2 History

The dividend of PAT has a limited annual growth rate of 4.78%.
Dividend Growth(5Y)4.78%
Div Incr Years1
Div Non Decr Years3
PAT.DE Yearly Dividends per sharePAT.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

218.58% of the earnings are spent on dividend by PAT. This is not a sustainable payout ratio.
PAT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP218.58%
EPS Next 2Y167.41%
EPS Next 3Y103.79%
PAT.DE Yearly Income VS Free CF VS DividendPAT.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M
PAT.DE Dividend Payout.PAT.DE Dividend Payout, showing the Payout Ratio.PAT.DE Dividend Payout.PayoutRetained Earnings

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PATRIZIA SE

FRA:PAT (8/8/2025, 7:00:00 PM)

7.52

-0.03 (-0.4%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)05-13 2025-05-13
Earnings (Next)08-12 2025-08-12
Inst Owners16.52%
Inst Owner ChangeN/A
Ins Owners54.5%
Ins Owner ChangeN/A
Market Cap694.47M
Analysts81.67
Price Target9.68 (28.72%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.64%
Yearly Dividend0.34
Dividend Growth(5Y)4.78%
DP218.58%
Div Incr Years1
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)2.29%
PT rev (3m)0.26%
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)-2.78%
Revenue NY rev (3m)-2.57%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 29.2
P/S 2.7
P/FCF N/A
P/OCF 2507.12
P/B 0.64
P/tB 0.93
EV/EBITDA 18.72
EPS(TTM)-0.05
EYN/A
EPS(NY)0.26
Fwd EY3.42%
FCF(TTM)-0.13
FCFYN/A
OCF(TTM)0
OCFY0.04%
SpS2.79
BVpS11.78
TBVpS8.06
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.78%
ROE 1.23%
ROCE 1.01%
ROIC 0.68%
ROICexc 0.75%
ROICexgc 0.97%
OM 6.08%
PM (TTM) 5.21%
GM 93.34%
FCFM N/A
ROA(3y)0.26%
ROA(5y)1.01%
ROE(3y)0.42%
ROE(5y)1.61%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-30.6%
PM growth 5Y-17.61%
GM growth 3Y-0.22%
GM growth 5Y3.27%
F-Score4
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Debt/EBITDA 7.01
Cap/Depr 43.31%
Cap/Sales 4.84%
Interest Coverage 0.94
Cash Conversion 0.62%
Profit Quality N/A
Current Ratio 1.95
Quick Ratio 1.95
Altman-Z 1.6
F-Score4
WACC5.92%
ROIC/WACC0.12
Cap/Depr(3y)31.81%
Cap/Depr(5y)31.91%
Cap/Sales(3y)3.94%
Cap/Sales(5y)4.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-200%
EPS 3Y-35.21%
EPS 5Y-24.16%
EPS Q2Q%11.34%
EPS Next Y405.53%
EPS Next 2Y167.41%
EPS Next 3Y103.79%
EPS Next 5YN/A
Revenue 1Y (TTM)-10.45%
Revenue growth 3Y-7.02%
Revenue growth 5Y-8.51%
Sales Q2Q%3.07%
Revenue Next Year-0.68%
Revenue Next 2Y2.64%
Revenue Next 3Y3.65%
Revenue Next 5Y1.37%
EBIT growth 1Y198.31%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year297.83%
EBIT Next 3Y78.84%
EBIT Next 5YN/A
FCF growth 1Y-112.98%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-99.72%
OCF growth 3Y-21.47%
OCF growth 5Y-24.15%