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FCR Immobilien AG
(XETRA:FC9)
Select Model
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Rating:64Neutral
Price Target:
€12.00
▲(10.09% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by solid financial quality (high margins and positive free cash flow) tempered by recent revenue/profit contraction and meaningful leverage. Valuation is a notable positive with a low P/E and a moderate dividend yield, while technicals are neutral with only modest positive momentum and the price still below the 200-day average.
Positive Factors
High profitability and margins
Sustained very high gross margins and strong net margins reflect durable cash-generating economics from rental operations and asset management. High margin structure supports operating leverage, funds reinvestment and distributions, and provides resilience through cyclical revenue swings over the next several months.
Negative Factors
Recent revenue and net income decline
A roughly 30% revenue drop in 2025 and corresponding net income declines reduce visibility on recurring rental growth and may reflect portfolio disposals or occupancy/lease headwinds. Persisting revenue contraction can erode fixed-cost coverage and constrain reinvestment or payout capacity over several months.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained very high gross margins and strong net margins reflect durable cash-generating economics from rental operations and asset management. High margin structure supports operating leverage, funds reinvestment and distributions, and provides resilience through cyclical revenue swings over the next several months.
Read all positive factors
FCR Immobilien AG (FC9) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€109.56M
Dividend Yield3.15%
Average Volume (3M)1.15K
Price to Earnings (P/E)8.7
Beta (1Y)0.24
Revenue Growth-34.11%
EPS Growth-42.27%
CountryDE
Employees39
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)1.27
Shares Outstanding9,870,452
10 Day Avg. Volume2,315
30 Day Avg. Volume1,154
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)0.79
Price to Sales (P/S)3.34
P/FCF Ratio7.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.72
Revenue Forecast (FY)€33.60M
FCR Immobilien AG Business Overview & Revenue Model
Company Description
The headquarters of FCR Immobilien & Vermögensverwaltungs GmbH & Co. KG are situated in Krailling, Germany....
How the Company Makes Money
FCR Immobilien AG makes money primarily through (1) recurring rental income from leased commercial properties and (2) gains from selling properties (disposals) after value enhancement or portfolio optimization. Rental income is generated by lettin...
FCR Immobilien AG Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
51
Neutral
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 36.09M | 54.06M | 56.63M | 37.07M | 54.08M |
| Gross Profit | 31.07M | 47.73M | 49.67M | 29.04M | 46.55M |
| EBITDA | 20.01M | 40.33M | 26.19M | 18.77M | 39.28M |
| Net Income | 12.61M | 21.84M | 8.70M | 14.18M | 12.15M |
Balance Sheet | |||||
| Total Assets | 430.82M | 448.60M | 449.48M | 471.79M | 402.19M |
| Cash, Cash Equivalents and Short-Term Investments | 1.49M | 1.67M | 6.91M | 5.55M | 18.71M |
| Total Debt | 260.17M | 280.68M | 301.65M | 327.51M | 261.53M |
| Total Liabilities | 277.95M | 303.90M | 324.15M | 353.03M | 294.19M |
| Stockholders Equity | 152.87M | 144.70M | 125.33M | 118.76M | 108.00M |
Cash Flow | |||||
| Free Cash Flow | 16.84M | 19.84M | 23.80M | 6.77M | 4.56M |
| Operating Cash Flow | 17.76M | 20.29M | 25.15M | 9.48M | 6.90M |
| Investing Cash Flow | 14.62M | 4.92M | 13.35M | -74.72M | -42.38M |
| Financing Cash Flow | -32.40M | -30.34M | -37.44M | 46.64M | 44.71M |
FCR Immobilien AG Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €1.40B | 6.60 | 11.49% | 5.35% | 0.94% | 72.90% | |
68 Neutral | €621.51M | 28.40 | 2.21% | 5.03% | 2.47% | 72.49% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | €109.56M | 8.74 | 8.47% | 3.21% | -34.11% | -42.27% | |
48 Neutral | €42.63M | -0.52 | -56.48% | ― | 37.96% | 15.96% | |
45 Neutral | €6.11B | 20.51 | 5.16% | ― | -11.60% | ― |
* Real Estate Sector Average
DE:FC9
FCR Immobilien AG
10.90
-1.11
-9.26%
DE:DMRE
DEMIRE Deutsche Mittelstand Real Estate ate ate
0.38
-0.31
-45.32%
DE:DEQ
Deutsche Euroshop
18.50
0.58
3.25%
DE:PAT
Patrizia Immobilien
7.32
0.12
1.65%
DE:DEF
DEFAMA Deutsche Fachmarkt AG
23.30
-3.74
-13.83%
DE:O5G
CPI PROPERTY GROUP S.A.
0.73
-0.09
-10.98%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.