PATRIMOINE ET COMMERCE-REGR (PAT.PA) Stock Fundamental Analysis
EPA:PAT - Euronext Paris - Matif - FR0011027135 - Common Stock - Currency: EUR
We assign a fundamental rating of 5 out of 10 to PAT. PAT was compared to 41 industry peers in the Diversified REITs industry. While PAT has a great profitability rating, there are quite some concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on PAT. PAT also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
PAT had positive earnings in the past year.
PAT had a positive operating cash flow in the past year.
Each year in the past 5 years PAT has been profitable.
PAT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
PAT has a Return On Assets of 4.27%. This is in the better half of the industry: PAT outperforms 75.61% of its industry peers.
PAT has a better Return On Equity (8.56%) than 78.05% of its industry peers.
Looking at the Return On Invested Capital, with a value of 3.76%, PAT is in the better half of the industry, outperforming 65.85% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for PAT is in line with the industry average of 3.57%.
The 3 year average ROIC (3.57%) for PAT is below the current ROIC(3.76%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.27% | ||
| ROE | 8.56% | ||
| ROIC | 3.76% |
ROA(3y)4.22%
ROA(5y)3.64%
ROE(3y)8.75%
ROE(5y)7.76%
ROIC(3y)3.57%
ROIC(5y)3.5%
1.3 Margins
PAT's Profit Margin of 72.32% is fine compared to the rest of the industry. PAT outperforms 78.05% of its industry peers.
PAT's Profit Margin has improved in the last couple of years.
PAT has a Operating Margin of 76.86%. This is in the better half of the industry: PAT outperforms 65.85% of its industry peers.
In the last couple of years the Operating Margin of PAT has declined.
PAT's Gross Margin of 89.83% is fine compared to the rest of the industry. PAT outperforms 78.05% of its industry peers.
In the last couple of years the Gross Margin of PAT has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 76.86% | ||
| PM (TTM) | 72.32% | ||
| GM | 89.83% |
OM growth 3Y-2.02%
OM growth 5Y-2.83%
PM growth 3Y0.28%
PM growth 5Y5.42%
GM growth 3Y-1.1%
GM growth 5Y-0.61%
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 increased compared to 5 years ago.
PAT has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.01, we must say that PAT is in the distress zone and has some risk of bankruptcy.
PAT has a Altman-Z score of 1.01. This is in the better half of the industry: PAT outperforms 60.98% of its industry peers.
PAT has a debt to FCF ratio of 14.65. This is a negative value and a sign of low solvency as PAT would need 14.65 years to pay back of all of its debts.
PAT has a Debt to FCF ratio (14.65) which is in line with its industry peers.
PAT has a Debt/Equity ratio of 0.73. This is a neutral value indicating PAT is somewhat dependend on debt financing.
PAT has a Debt to Equity ratio of 0.73. This is comparable to the rest of the industry: PAT outperforms 48.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | 14.65 | ||
| Altman-Z | 1.01 |
ROIC/WACC0.78
WACC4.85%
2.3 Liquidity
PAT has a Current Ratio of 0.41. This is a bad value and indicates that PAT is not financially healthy enough and could expect problems in meeting its short term obligations.
PAT has a Current ratio of 0.41. This is comparable to the rest of the industry: PAT outperforms 43.90% of its industry peers.
PAT has a Quick Ratio of 0.41. This is a bad value and indicates that PAT is not financially healthy enough and could expect problems in meeting its short term obligations.
PAT has a Quick ratio (0.41) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 38.17% over the past year.
Measured over the past 5 years, PAT shows a small growth in Earnings Per Share. The EPS has been growing by 7.44% on average per year.
Looking at the last year, PAT shows a quite strong growth in Revenue. The Revenue has grown by 12.11% in the last year.
Measured over the past years, PAT shows a small growth in Revenue. The Revenue has been growing by 4.13% on average per year.
EPS 1Y (TTM)38.17%
EPS 3Y7.68%
EPS 5Y7.44%
EPS Q2Q%55.3%
Revenue 1Y (TTM)12.11%
Revenue growth 3Y8.83%
Revenue growth 5Y4.13%
Sales Q2Q%17.84%
3.2 Future
PAT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.59% yearly.
PAT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.59% yearly.
EPS Next Y25.24%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPS Next 5YN/A
Revenue Next Year11.32%
Revenue Next 2Y9.03%
Revenue Next 3Y7.59%
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 9.09, the valuation of PAT can be described as reasonable.
Based on the Price/Earnings ratio, PAT is valued cheaper than 80.49% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.54. PAT is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 9.04, the valuation of PAT can be described as reasonable.
82.93% of the companies in the same industry are more expensive than PAT, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of PAT to the average of the S&P500 Index (36.44), we can say PAT is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.09 | ||
| Fwd PE | 9.04 |
4.2 Price Multiples
PAT's Enterprise Value to EBITDA ratio is in line with the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of PAT is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.17 | ||
| EV/EBITDA | 17.86 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of PAT may justify a higher PE ratio.
PAT's earnings are expected to grow with 25.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.36
PEG (5Y)1.22
EPS Next 2Y20.12%
EPS Next 3Y25.59%
5. Dividend
5.1 Amount
PAT has a Yearly Dividend Yield of 5.65%, which is a nice return.
Compared to an average industry Dividend Yield of 5.60, PAT pays a bit more dividend than its industry peers.
PAT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.65% |
5.2 History
The dividend of PAT has a limited annual growth rate of 1.91%.
Dividend Growth(5Y)1.91%
Div Incr Years3
Div Non Decr Years4
5.3 Sustainability
PAT pays out 50.51% of its income as dividend. This is a bit on the high side, but may be sustainable.
PAT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP50.51%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPA:PAT (7/21/2025, 5:26:12 PM)
24
0 (0%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners29.07%
Inst Owner ChangeN/A
Ins Owners6.31%
Ins Owner ChangeN/A
Market Cap383.28M
Analysts84
Price Target25.5 (6.25%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.65% |
Yearly Dividend1.34
Dividend Growth(5Y)1.91%
DP50.51%
Div Incr Years3
Div Non Decr Years4
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)0%
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 | 9.09 | ||
| Fwd PE | 9.04 | ||
| P/S | 6.77 | ||
| P/FCF | 13.17 | ||
| P/OCF | 8.71 | ||
| P/B | 0.8 | ||
| P/tB | 0.8 | ||
| EV/EBITDA | 17.86 |
EPS(TTM)2.64
EY11%
EPS(NY)2.66
Fwd EY11.07%
FCF(TTM)1.82
FCFY7.59%
OCF(TTM)2.76
OCFY11.48%
SpS3.55
BVpS29.96
TBVpS29.96
PEG (NY)0.36
PEG (5Y)1.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.27% | ||
| ROE | 8.56% | ||
| ROCE | 5.18% | ||
| ROIC | 3.76% | ||
| ROICexc | 3.85% | ||
| ROICexgc | 3.85% | ||
| OM | 76.86% | ||
| PM (TTM) | 72.32% | ||
| GM | 89.83% | ||
| FCFM | 51.36% |
ROA(3y)4.22%
ROA(5y)3.64%
ROE(3y)8.75%
ROE(5y)7.76%
ROIC(3y)3.57%
ROIC(5y)3.5%
ROICexc(3y)3.8%
ROICexc(5y)3.87%
ROICexgc(3y)3.8%
ROICexgc(5y)3.87%
ROCE(3y)4.91%
ROCE(5y)4.8%
ROICexcg growth 3Y0.81%
ROICexcg growth 5Y-1.2%
ROICexc growth 3Y0.81%
ROICexc growth 5Y-1.2%
OM growth 3Y-2.02%
OM growth 5Y-2.83%
PM growth 3Y0.28%
PM growth 5Y5.42%
GM growth 3Y-1.1%
GM growth 5Y-0.61%
F-Score6
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | 14.65 | ||
| Debt/EBITDA | 8.04 | ||
| Cap/Depr | 7530.3% | ||
| Cap/Sales | 26.32% | ||
| Interest Coverage | 3.64 | ||
| Cash Conversion | 100.62% | ||
| Profit Quality | 71.02% | ||
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 | ||
| Altman-Z | 1.01 |
F-Score6
WACC4.85%
ROIC/WACC0.78
Cap/Depr(3y)14486%
Cap/Depr(5y)46663.9%
Cap/Sales(3y)64.67%
Cap/Sales(5y)49.18%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)38.17%
EPS 3Y7.68%
EPS 5Y7.44%
EPS Q2Q%55.3%
EPS Next Y25.24%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPS Next 5YN/A
Revenue 1Y (TTM)12.11%
Revenue growth 3Y8.83%
Revenue growth 5Y4.13%
Sales Q2Q%17.84%
Revenue Next Year11.32%
Revenue Next 2Y9.03%
Revenue Next 3Y7.59%
Revenue Next 5YN/A
EBIT growth 1Y6.64%
EBIT growth 3Y6.63%
EBIT growth 5Y1.19%
EBIT Next Year139.13%
EBIT Next 3Y37.66%
EBIT Next 5YN/A
FCF growth 1Y33.03%
FCF growth 3Y13.18%
FCF growth 5YN/A
OCF growth 1Y7.12%
OCF growth 3Y6.84%
OCF growth 5Y-0.24%