Icade SA (ICAD) AI Stock Analysis

• Market Cap: €1.62B
• Dividend Yield: 20.52%
• Average Volume (3M): 151.10K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: -6.91%
• EPS Growth: 80.39%
• Country: FR
• Employees: 969
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 1.44
• Shares Outstanding: 76,234,540
• 10 Day Avg. Volume: 165,450
• 30 Day Avg. Volume: 151,101
• PEG Ratio: 0.08
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 1.20
• P/FCF Ratio: 10.48
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €23.67
• Price Target Upside: 12.71% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 7

• Rating: 55 Neutral
• Price Target: €21.50 ▲(2.38% Upside)

Icade SA's overall stock score reflects significant financial challenges, with declining revenues and negative profitability. The technical analysis shows mixed signals, with stability around the moving averages but bearish momentum. Valuation is supported by a high dividend yield, though offset by negative earnings. The company needs to focus on improving operational efficiency and profitability to enhance its financial health and stock performance.

Icade SA Business Overview & Revenue Model

Company Description

As an investor and a developer, Icade is an integrated real estate player that designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is closely involved with stakeholders and users in the cities—local authorities and communities, companies and employees, institutions and associations. As an office and healthcare property investor (portfolio value of €11.6bn as of 06/30/2020 on a proportionate consolidation basis) and as a property developer (2019 economic revenues of nearly €1bn), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (société d'investissement immobilier cotée, SIIC). Its leading shareholder is the Caisse des dépôts Group.

How the Company Makes Money

Icade generates revenue through several key streams, primarily from its real estate investments and property management services. The company earns rental income from its portfolio of office and healthcare properties, which are leased to various tenants. Additionally, Icade engages in property development, earning profits from the sale of newly developed or refurbished properties. The company may also benefit from strategic partnerships with other real estate firms or local governments, which can lead to joint ventures and increased project opportunities. Furthermore, Icade's focus on sustainable development and innovation allows it to attract investment and funding, enhancing its overall revenue potential.

Icade SA Financial Statement Overview

Summary

Icade SA faces significant challenges in its financial performance. The income statement shows declining revenues and negative margins, indicating operational inefficiencies. The balance sheet reflects high leverage, though with some equity financing strength. Cash flow is positive but needs improvement in free cash flow growth. Overall, the company must enhance operational efficiency and profitability to improve financial health.

Income Statement

Icade SA's income statement shows significant challenges. The company is experiencing declining revenues, with a 4.98% decrease from 2023 to 2024. Both EBIT and EBITDA margins are negative, indicating operational inefficiencies. The net profit margin is also negative due to substantial net losses, reflecting ongoing financial struggles. The company needs to address these issues to improve profitability.

Balance Sheet

Icade SA's balance sheet indicates some strengths and weaknesses. The debt-to-equity ratio has improved slightly, showing a reduction in leverage, but it remains high at 1.10. The equity ratio stands at 41.08%, indicating reasonable equity financing. However, the return on equity is negative, reflecting the negative net income, which is a concern. Overall, the balance sheet shows stability but highlights the need for improved profitability.

Cash Flow

The cash flow statement reveals positive signs, with an increase in operating cash flow by 13.47% from 2023 to 2024, reflecting improved cash generation. Free cash flow is positive, but the growth rate is negative, showing a decrease from the previous year. The operating cash flow to net income ratio is strong, indicating good cash conversion, but the free cash flow to net income ratio is weak due to negative net income. Improving free cash flow growth is crucial for future stability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.45B	1.53B	1.96B	1.79B	1.45B
Gross Profit	501.80M	581.50M	818.60M	780.00M	720.30M
EBITDA	-160.80M	-1.13B	-67.00M	621.20M	575.70M
Net Income	-275.90M	-1.25B	54.10M	400.10M	79.50M
Balance Sheet
Total Assets	10.52B	11.60B	18.22B	17.61B	17.20B
Cash, Cash Equivalents and Short-Term Investments	1.23B	1.62B	1.08B	655.70M	1.19B
Total Debt	4.74B	5.13B	8.02B	7.68B	7.72B
Total Liabilities	6.16B	6.53B	9.53B	8.97B	9.05B
Stockholders Equity	4.32B	4.99B	6.59B	6.72B	6.46B
Cash Flow
Free Cash Flow	166.20M	18.30M	-234.20M	-497.60M	119.50M
Operating Cash Flow	366.40M	322.90M	312.90M	529.10M	650.10M
Investing Cash Flow	-46.40M	1.00B	181.30M	-782.30M	-561.70M
Financing Cash Flow	-595.30M	-884.70M	-70.10M	-290.30M	335.20M

Icade SA Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 21.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ICAD, the sentiment is Neutral. The current price of 21 is above the 20-day moving average (MA) of 20.69, below the 50-day MA of 21.24, and above the 200-day MA of 19.83, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 49.00 is Neutral, neither overbought nor oversold. The STOCH value of 81.97 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:ICAD.

Icade SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COVH	74 Outperform	4.01B	18.46	6.54%	5.91%	21.24%	241.67%
COV	71 Outperform	6.32B	15.03	0.83%	6.17%	8.36%	0.00%
LI	71 Outperform	9.31B	8.00	12.77%	5.12%	6.74%	74.00%
GFC	62 Neutral	6.25B	12.29	2.95%	6.02%	3.84%	0.00%
ALTA	58 Neutral	2.47B	-206.99	0.36%	7.50%	-4.87%	97.55%
ICAD	55 Neutral	€1.62B	―	-4.49%	20.52%	-6.91%	80.39%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%