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ICAPE HOLDING
(ALICA)
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Rating:50Neutral
Price Target:
€8.50
▼(-1.16% Downside)
Action:Reiterated
Date:08/27/26
Overall score is held down mainly by weak financial performance (margin collapse, net loss, high leverage, and uneven free cash flow) and an unattractive earnings-based valuation (negative P/E). These are partly offset by strong technical momentum with price trading above key moving averages and positive MACD.
Positive Factors
Revenue Growth
Reported revenue growth shows that customer demand and the company’s distribution activity expanded overall. Sustained growth would improve operating scale and strengthen the platform’s ability to spread procurement, quality-control, and logistics capabilities across a broader sales base.
Negative Factors
Margin Compression and Net Loss
The 2025 deterioration indicates that pricing, input costs, or product mix materially weakened earnings quality. A net loss alongside gross-margin compression reduces confidence in near-term profit durability and could limit reinvestment in growth and customer services.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Reported revenue growth shows that customer demand and the company’s distribution activity expanded overall. Sustained growth would improve operating scale and strengthen the platform’s ability to spread procurement, quality-control, and logistics capabilities across a broader sales base.
Read all positive factors
ICAPE HOLDING (ALICA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€68.05M
Dividend Yield1.07%
Average Volume (3M)3.16K
Price to Earnings (P/E)―
Beta (1Y)0.64
Revenue Growth10.23%
EPS Growth-110.11%
CountryFR
Employees665
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.05
Shares Outstanding8,088,182
10 Day Avg. Volume3,563
30 Day Avg. Volume3,159
Financial Highlights & Ratios
PEG Ratio1.17
Price to Book (P/B)5.43
Price to Sales (P/S)0.70
P/FCF Ratio64.63
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)0.87
Revenue Forecast (FY)€232.15M
ICAPE HOLDING Business Overview & Revenue Model
Company Description
Icape Holding S.A. is a global supplier specializing in the manufacturing and distribution of printed circuit boards (PCBs) and custom-engineered technical components. Its comprehensive range of PCBs includes single and double-sided, aluminum, mul...
How the Company Makes Money
ICAPE Holding primarily makes money by acting as an intermediary between electronics customers that need PCBs and a network of PCB manufacturers. The core revenue stream is the sale of PCBs and related products to customers: the company purchases ...
ICAPE HOLDING Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
45
Neutral
Cash Flow
39
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 200.28M | 181.70M | 179.54M | 219.64M | 163.88M |
| Gross Profit | 30.63M | 63.66M | 58.43M | 62.22M | 38.78M |
| EBITDA | 14.95M | 11.44M | 13.27M | 14.24M | 6.62M |
| Net Income | -369.00K | 3.72M | 3.38M | 5.48M | 2.45M |
Balance Sheet | |||||
| Total Assets | 145.25M | 159.62M | 150.84M | 144.74M | 108.72M |
| Cash, Cash Equivalents and Short-Term Investments | 17.89M | 26.73M | 32.80M | 27.99M | 26.03M |
| Total Debt | 53.37M | 66.77M | 59.50M | 43.59M | 38.22M |
| Total Liabilities | 120.45M | 128.45M | 119.16M | 115.67M | 102.71M |
| Stockholders Equity | 25.92M | 31.02M | 31.38M | 28.45M | 5.32M |
Cash Flow | |||||
| Free Cash Flow | 2.18M | 5.36M | 6.61M | -1.57M | -1.82M |
| Operating Cash Flow | 5.68M | 7.32M | 8.28M | 2.96M | 393.00K |
| Investing Cash Flow | -4.96M | -12.79M | -15.18M | -20.43M | -8.36M |
| Financing Cash Flow | -8.20M | -1.41M | 11.83M | 19.02M | 9.26M |
ICAPE HOLDING Technical Analysis
Neutral
8.60
Price Trends
8.33
Positive
7.58
Positive
6.47
Positive
Market Momentum
0.03
Positive
49.23
Neutral
41.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALICA, the sentiment is Neutral. The current price of 8.6 is above the 20-day moving average (MA) of 8.55, above the 50-day MA of 8.33, and above the 200-day MA of 6.47, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 49.23 is Neutral, neither overbought nor oversold. The STOCH value of 41.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:ALICA.
ICAPE HOLDING Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | €79.13M | -2.00 | -39.17% | 3.35% | -29.90% | -17.13% | |
52 Neutral | €656.04M | 82.75 | 35.98% | 18.78% | ― | ― | |
50 Neutral | €68.05M | -168.80 | ― | 1.07% | 10.23% | -110.11% | |
48 Neutral | €855.64M | 185.16 | 0.45% | ― | -3.09% | -86.76% | |
40 Underperform | €13.02M | -4.26 | -82.96% | ― | ― | ― |
* Technology Sector Average
FR:ALICA
ICAPE HOLDING
8.44
1.75
26.16%
FR:ALGID
Egide SA
0.66
0.18
37.95%
FR:XFAB
X-Fab Silicon Foundries SE
6.55
-0.34
-4.93%
FR:LACR
Lacroix Group SA
16.90
8.72
106.60%
FR:AL2SI
2CRSI SA
29.08
20.02
220.97%
FR:ALLOG
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1.90
-0.23
-10.61%
ICAPE HOLDING Corporate Events
ICAPE Group Reports Small Share Buyback Under Ongoing Capital Management Plan
Aug 5, 2026
ICAPE Group has disclosed that it repurchased 315 of its own shares on 13 July 2026 on the ALXP market at a daily weighted average price of €7.14, for a total consideration of €2,249.1. The modest buyback activity forms part of the com...
ICAPE Group Reports July 2026 Share Buyback Activity on ALXP Market
Aug 4, 2026
ICAPE Group has disclosed details of share buyback transactions executed between 24 and 31 July 2026 as part of its regulatory reporting obligations. Over the period, the company repurchased a total of 858 shares on the ALXP market at a daily weig...
ICAPE’s Q2 Revenue Surges as Backlog Hits Record on AI‑Driven Demand
Jul 29, 2026
ICAPE reported second‑quarter 2026 revenue of €61.8 million, up 22.9% year‑on‑year and 19.9% sequentially, with organic growth reaching 25% at constant exchange rates as higher volumes and prices offset currency headwinds. ...
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.