FONCIERE LYONNAISE (FLY.PA) Stock Fundamental Analysis
EPA:FLY - Euronext Paris - Matif - FR0000033409 - REIT - Currency: EUR
We assign a fundamental rating of 4 out of 10 to FLY. FLY was compared to 42 industry peers in the Diversified REITs industry. FLY has a medium profitability rating, but doesn't score so well on its financial health evaluation. FLY is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FLY was profitable.
FLY had a positive operating cash flow in the past year.
Of the past 5 years FLY 4 years were profitable.
FLY had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of 2.70%, FLY perfoms like the industry average, outperforming 59.52% of the companies in the same industry.
The Return On Equity of FLY (5.68%) is better than 61.90% of its industry peers.
The Return On Invested Capital of FLY (2.33%) is worse than 78.57% of its industry peers.
FLY had an Average Return On Invested Capital over the past 3 years of 2.02%. This is in line with the industry average of 3.74%.
The 3 year average ROIC (2.02%) for FLY is below the current ROIC(2.33%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.7% | ||
| ROE | 5.68% | ||
| ROIC | 2.33% |
ROA(3y)-1.39%
ROA(5y)0.69%
ROE(3y)-3.03%
ROE(5y)0.75%
ROIC(3y)2.02%
ROIC(5y)1.81%
1.3 Margins
The Profit Margin of FLY (83.16%) is better than 88.10% of its industry peers.
FLY's Profit Margin has declined in the last couple of years.
FLY's Operating Margin of 87.52% is amongst the best of the industry. FLY outperforms 85.71% of its industry peers.
FLY's Operating Margin has been stable in the last couple of years.
The Gross Margin of FLY (97.37%) is better than 92.86% of its industry peers.
FLY's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 87.52% | ||
| PM (TTM) | 83.16% | ||
| GM | 97.37% |
OM growth 3Y4.42%
OM growth 5Y0.13%
PM growth 3Y-20.77%
PM growth 5Y-22.47%
GM growth 3Y0.7%
GM growth 5Y0.33%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FLY is destroying value.
Compared to 1 year ago, FLY has about the same amount of shares outstanding.
Compared to 5 years ago, FLY has less shares outstanding
The debt/assets ratio for FLY is higher compared to a year ago.
2.2 Solvency
FLY has an Altman-Z score of 1.04. This is a bad value and indicates that FLY is not financially healthy and even has some risk of bankruptcy.
With a decent Altman-Z score value of 1.04, FLY is doing good in the industry, outperforming 69.05% of the companies in the same industry.
FLY has a debt to FCF ratio of 26.54. This is a negative value and a sign of low solvency as FLY would need 26.54 years to pay back of all of its debts.
The Debt to FCF ratio of FLY (26.54) is worse than 69.05% of its industry peers.
A Debt/Equity ratio of 0.57 indicates that FLY is somewhat dependend on debt financing.
FLY has a Debt to Equity ratio of 0.57. This is in the better half of the industry: FLY outperforms 76.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 26.54 | ||
| Altman-Z | 1.04 |
ROIC/WACC0.42
WACC5.5%
2.3 Liquidity
FLY has a Current Ratio of 0.10. This is a bad value and indicates that FLY is not financially healthy enough and could expect problems in meeting its short term obligations.
FLY has a worse Current ratio (0.10) than 88.10% of its industry peers.
FLY has a Quick Ratio of 0.10. This is a bad value and indicates that FLY is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.10, FLY is doing worse than 88.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.1 |
3. Growth
3.1 Past
FLY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 132.35%, which is quite impressive.
FLY shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -17.63% yearly.
The Revenue has been growing slightly by 6.15% in the past year.
Measured over the past years, FLY shows a small growth in Revenue. The Revenue has been growing by 4.60% on average per year.
EPS 1Y (TTM)132.35%
EPS 3Y-9.45%
EPS 5Y-17.63%
EPS Q2Q%128.19%
Revenue 1Y (TTM)6.15%
Revenue growth 3Y12.53%
Revenue growth 5Y4.6%
Sales Q2Q%3.4%
3.2 Future
Based on estimates for the next years, FLY will show a decrease in Earnings Per Share. The EPS will decrease by -1.02% on average per year.
The Revenue is expected to grow by 5.70% on average over the next years.
EPS Next Y-12.34%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPS Next 5YN/A
Revenue Next Year-0.95%
Revenue Next 2Y4.7%
Revenue Next 3Y5.7%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 15.87 indicates a correct valuation of FLY.
The rest of the industry has a similar Price/Earnings ratio as FLY.
FLY's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.78.
The Price/Forward Earnings ratio is 30.92, which means the current valuation is very expensive for FLY.
Based on the Price/Forward Earnings ratio, FLY is valued more expensive than 80.95% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.32. FLY is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.87 | ||
| Fwd PE | 30.92 |
4.2 Price Multiples
FLY's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FLY is more expensive than 71.43% of the companies in the same industry.
FLY's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. FLY is more expensive than 78.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 33.93 | ||
| EV/EBITDA | 23.78 |
4.3 Compensation for Growth
The decent profitability rating of FLY may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
5. Dividend
5.1 Amount
FLY has a Yearly Dividend Yield of 3.73%. Purely for dividend investing, there may be better candidates out there.
FLY's Dividend Yield is slightly below the industry average, which is at 7.70.
Compared to an average S&P500 Dividend Yield of 2.46, FLY pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.73% |
5.2 History
The dividend of FLY decreases each year by -1.96%.
Dividend Growth(5Y)-1.96%
Div Incr Years0
Div Non Decr Years3
5.3 Sustainability
FLY pays out 49.81% of its income as dividend. This is a bit on the high side, but may be sustainable.
The Dividend Rate of FLY has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP49.81%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPA:FLY (4/25/2025, 7:00:00 PM)
76.5
0 (0%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.29%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap3.29B
Analysts45
Price Target73.69 (-3.67%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.73% |
Yearly Dividend2.4
Dividend Growth(5Y)-1.96%
DP49.81%
Div Incr Years0
Div Non Decr Years3
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)-6.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-5.77%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)2.99%
Revenue NY rev (3m)2.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.87 | ||
| Fwd PE | 30.92 | ||
| P/S | 13.22 | ||
| P/FCF | 33.93 | ||
| P/OCF | 32.91 | ||
| P/B | 0.9 | ||
| P/tB | 0.9 | ||
| EV/EBITDA | 23.78 |
EPS(TTM)4.82
EY6.3%
EPS(NY)2.47
Fwd EY3.23%
FCF(TTM)2.25
FCFY2.95%
OCF(TTM)2.32
OCFY3.04%
SpS5.79
BVpS84.67
TBVpS84.58
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.7% | ||
| ROE | 5.68% | ||
| ROCE | 3.46% | ||
| ROIC | 2.33% | ||
| ROICexc | 2.36% | ||
| ROICexgc | 2.37% | ||
| OM | 87.52% | ||
| PM (TTM) | 83.16% | ||
| GM | 97.37% | ||
| FCFM | 38.97% |
ROA(3y)-1.39%
ROA(5y)0.69%
ROE(3y)-3.03%
ROE(5y)0.75%
ROIC(3y)2.02%
ROIC(5y)1.81%
ROICexc(3y)2.04%
ROICexc(5y)1.83%
ROICexgc(3y)2.04%
ROICexgc(5y)1.83%
ROCE(3y)2.89%
ROCE(5y)2.55%
ROICexcg growth 3Y19.38%
ROICexcg growth 5Y4.47%
ROICexc growth 3Y19.37%
ROICexc growth 5Y4.46%
OM growth 3Y4.42%
OM growth 5Y0.13%
PM growth 3Y-20.77%
PM growth 5Y-22.47%
GM growth 3Y0.7%
GM growth 5Y0.33%
F-Score6
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 26.54 | ||
| Debt/EBITDA | 9.4 | ||
| Cap/Depr | 193.49% | ||
| Cap/Sales | 1.21% | ||
| Interest Coverage | 3.13 | ||
| Cash Conversion | 45.59% | ||
| Profit Quality | 46.87% | ||
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.1 | ||
| Altman-Z | 1.04 |
F-Score6
WACC5.5%
ROIC/WACC0.42
Cap/Depr(3y)454.49%
Cap/Depr(5y)335.66%
Cap/Sales(3y)3.65%
Cap/Sales(5y)2.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)132.35%
EPS 3Y-9.45%
EPS 5Y-17.63%
EPS Q2Q%128.19%
EPS Next Y-12.34%
EPS Next 2Y-1.17%
EPS Next 3Y-1.02%
EPS Next 5YN/A
Revenue 1Y (TTM)6.15%
Revenue growth 3Y12.53%
Revenue growth 5Y4.6%
Sales Q2Q%3.4%
Revenue Next Year-0.95%
Revenue Next 2Y4.7%
Revenue Next 3Y5.7%
Revenue Next 5YN/A
EBIT growth 1Y8.03%
EBIT growth 3Y17.5%
EBIT growth 5Y4.74%
EBIT Next Year-22.09%
EBIT Next 3Y-2.52%
EBIT Next 5YN/A
FCF growth 1Y1.95%
FCF growth 3Y-3.92%
FCF growth 5Y-7.28%
OCF growth 1Y-13.3%
OCF growth 3Y-3.24%
OCF growth 5Y-6.82%