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Gecina
(GFC)
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Rating:61Neutral
Price Target:
€67.00
▼(-6.94% Downside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by mixed financial quality driven by weak 2025 cash flow (negative free cash flow) and historical earnings volatility, despite strong reported profitability and stable leverage. Technicals are supportive with the price above key moving averages and positive MACD. Valuation is balanced by a high dividend yield but an elevated P/E.
Positive Factors
Strong profitability
Strong 2025 gross, operating, and net margins, improving versus 2024, indicate the portfolio is currently generating healthy profitability. If maintained, this supports reinvestment in properties and provides resilience against operating-cost pressure.
Negative Factors
Negative free cash flow
Operating cash generation weakened in 2025, cash conversion was pressured, and free cash flow turned negative after being positive in prior years. This reduces near-term financial flexibility and may constrain reinvestment, debt reduction, or shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
Strong 2025 gross, operating, and net margins, improving versus 2024, indicate the portfolio is currently generating healthy profitability. If maintained, this supports reinvestment in properties and provides resilience against operating-cost pressure.
Read all positive factors
Gecina (GFC) vs. iShares MSCI France ETF (EWQ)
Market Cap
€4.73B
Dividend Yield8.61%
Average Volume (3M)222.13K
Price to Earnings (P/E)32.3
Beta (1Y)0.66
Revenue Growth0.78%
EPS Growth-68.17%
CountryFR
Employees437
SectorGeneral
Sector StrengthN/A
IndustryREIT - Office
Share Statistics
EPS (TTM)1.98
Shares Outstanding76,831,130
10 Day Avg. Volume230,472
30 Day Avg. Volume222,131
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.57
Price to Sales (P/S)6.97
P/FCF Ratio-12.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€90.10Price Target Upside25.14% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)6.72
Revenue Forecast (FY)€710.92M
Gecina Business Overview & Revenue Model
Company Description
Gecina specializes in creating and managing forward-thinking, environmentally conscious living and working environments. The company boasts a premier European office property portfolio, with approximately 97% of its assets concentrated in the Grea...
How the Company Makes Money
Gecina primarily makes money by generating recurring rental income from its investment property portfolio. The core revenue stream comes from leasing office space to corporate tenants and renting residential units to individuals, with lease paymen...
Gecina Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 762.41M | 858.58M | 854.08M | 835.69M | 772.05M | 762.01M |
| Gross Profit | 660.47M | 662.73M | 628.88M | 621.76M | 569.72M | 616.15M |
| EBITDA | 202.85M | 554.91M | 414.63M | -1.69B | 263.77M | 473.11M |
| Net Income | 146.28M | 448.20M | 309.76M | -1.79B | 169.58M | 849.29M |
Balance Sheet | ||||||
| Total Assets | 17.99B | 18.02B | 17.92B | 17.65B | 20.68B | 20.44B |
| Cash, Cash Equivalents and Short-Term Investments | 254.90M | 77.94M | 179.04M | 143.72M | 50.57M | 15.10M |
| Total Debt | 6.99B | 6.88B | 6.76B | 6.43B | 7.23B | 6.91B |
| Total Liabilities | 7.82B | 7.44B | 7.40B | 7.05B | 7.90B | 7.46B |
| Stockholders Equity | 10.16B | 10.56B | 10.51B | 10.58B | 12.76B | 12.96B |
Cash Flow | ||||||
| Free Cash Flow | -465.18M | -490.78M | 145.18M | 218.03M | 149.61M | 146.73M |
| Operating Cash Flow | 564.30M | 479.02M | 599.85M | 449.17M | 390.86M | 390.15M |
| Investing Cash Flow | -666.15M | -210.09M | -405.94M | 882.93M | -266.16M | 192.59M |
| Financing Cash Flow | -370.91M | -370.03M | -158.58M | -1.24B | -89.23M | -741.76M |
Gecina Technical Analysis
Neutral
72.00
Price Trends
65.59
Negative
69.04
Negative
69.22
Negative
Market Momentum
-0.61
Negative
53.19
Neutral
79.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:GFC, the sentiment is Neutral. The current price of 72 is above the 20-day moving average (MA) of 61.91, above the 50-day MA of 65.59, and above the 200-day MA of 69.22, indicating a neutral trend. The MACD of -0.61 indicates Negative momentum. The RSI at 53.19 is Neutral, neither overbought nor oversold. The STOCH value of 79.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:GFC.
Gecina Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €9.82B | 7.30 | 14.54% | 5.45% | 3.02% | 15.66% | |
61 Neutral | €4.73B | 32.27 | 1.41% | 8.61% | 0.78% | -68.17% | |
61 Neutral | €4.85B | 7.40 | 7.67% | 8.56% | 5.45% | 56.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €1.79B | 47.78 | 2.27% | 11.02% | -20.40% | ― | |
51 Neutral | €1.10B | -5.90 | -5.03% | 13.17% | -9.09% | -0.01% | |
40 Underperform | €242.20M | -1.38 | -11.00% | 11.72% | -15.41% | -15.26% |
* General Sector Average
FR:GFC
Gecina
63.90
-12.63
-16.50%
FR:ALTA
ALTAREA
72.60
-20.78
-22.25%
FR:COV
Covivio SA
43.82
-9.28
-17.47%
FR:ICAD
Icade SA
14.58
-4.78
-24.69%
FR:LI
Klepierre (ex Compagnie Fonciere Klepierre)
34.84
3.42
10.88%
FR:NXI
NEXITY
4.35
-5.00
-53.48%
Gecina Corporate Events
Gecina Accelerates Leasing and Confirms 2026 Guidance Amid Strong Demand for Prime Assets
Oct 14, 2026
Gecina reported one of its strongest leasing performances in a decade, with 140,000 sq.m of offices renewed or re-let in the first nine months of 2026, and occupancy holding at 94.0%. Demand remains concentrated on prime, central assets, reflected...
Gecina Fully Lets Two La Défense Offices with Long-Term Leases
Oct 12, 2026
Gecina has secured two major long‑term leases totaling 29,000 square meters in Paris La Défense, fully leasing its Bâtiment B and Adamas office assets with firm terms of more than 11 years. The deals bring both buildings’ occ...
Gecina Updates Voting Rights Ahead of October Activity Report
Oct 6, 2026
Gecina reported that its share capital stood at 76,792,337 shares in September 2026, with the same number of theoretical voting rights and 73,909,200 exercisable voting rights, slightly down from August. This disclosure, made under French market r...
Gecina Reports Updated Voting Rights and Confirms October Business Activity Disclosure
Sep 2, 2026
Gecina has reported that as of August 2026 its share capital stands at 76,792,337 shares, corresponding to an equal number of theoretical voting rights and 73,988,694 exercisable voting rights, slightly down from July’s level. The change in ...
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.