ICADE (ICAD.PA) Stock Fundamental Analysis

EPA:ICAD • FR0000035081

21.34 EUR
+0.32 (+1.52%)
Last: Feb 27, 2026, 10:50 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

Taking everything into account, ICAD scores 3 out of 10 in our fundamental rating. ICAD was compared to 42 industry peers in the Diversified REITs industry. ICAD may be in some trouble as it scores bad on both profitability and health. ICAD is valued quite cheap, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • ICAD had positive earnings in the past year.
  • ICAD had a positive operating cash flow in the past year.
  • In multiple years ICAD reported negative net income over the last 5 years.
  • Each year in the past 5 years ICAD had a positive operating cash flow.
ICAD.PA Yearly Net Income VS EBIT VS OCF VS FCFICAD.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

  • With a Return On Assets value of -1.84%, ICAD is not doing good in the industry: 80.95% of the companies in the same industry are doing better.
  • With a Return On Equity value of -4.78%, ICAD is not doing good in the industry: 80.95% of the companies in the same industry are doing better.
  • Looking at the Return On Invested Capital, with a value of 2.76%, ICAD is doing worse than 71.43% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for ICAD is in line with the industry average of 3.46%.
  • The 3 year average ROIC (2.14%) for ICAD is below the current ROIC(2.76%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -1.84%
ROE -4.78%
ROIC 2.76%
ROA(3y)-4.37%
ROA(5y)-2.07%
ROE(3y)-10.21%
ROE(5y)-4.69%
ROIC(3y)2.14%
ROIC(5y)2.38%
ICAD.PA Yearly ROA, ROE, ROICICAD.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10 -20

1.3 Margins

  • Looking at the Operating Margin, with a value of 19.60%, ICAD is doing worse than 78.57% of the companies in the same industry.
  • In the last couple of years the Operating Margin of ICAD has declined.
  • The Profit Margin and Gross Margin are not available for ICAD so they could not be analyzed.
Industry RankSector Rank
OM 19.6%
PM (TTM) N/A
GM N/A
OM growth 3Y-28.23%
OM growth 5Y-3.84%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
ICAD.PA Yearly Profit, Operating, Gross MarginsICAD.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • ICAD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • ICAD has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for ICAD has been increased compared to 5 years ago.
  • ICAD has a worse debt/assets ratio than last year.
ICAD.PA Yearly Shares OutstandingICAD.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
ICAD.PA Yearly Total Debt VS Total AssetsICAD.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • ICAD has an Altman-Z score of 0.64. This is a bad value and indicates that ICAD is not financially healthy and even has some risk of bankruptcy.
  • ICAD's Altman-Z score of 0.64 is on the low side compared to the rest of the industry. ICAD is outperformed by 61.90% of its industry peers.
  • The Debt to FCF ratio of ICAD is 45.31, which is on the high side as it means it would take ICAD, 45.31 years of fcf income to pay off all of its debts.
  • ICAD has a Debt to FCF ratio of 45.31. This is in the lower half of the industry: ICAD underperforms 76.19% of its industry peers.
  • ICAD has a Debt/Equity ratio of 0.97. This is a neutral value indicating ICAD is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.97, ICAD is doing worse than 73.81% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 45.31
Altman-Z 0.64
ROIC/WACC0.95
WACC2.89%
ICAD.PA Yearly LT Debt VS Equity VS FCFICAD.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 1.06 indicates that ICAD should not have too much problems paying its short term obligations.
  • ICAD has a Current ratio of 1.06. This is in the better half of the industry: ICAD outperforms 78.57% of its industry peers.
  • ICAD has a Quick Ratio of 1.06. This is a bad value and indicates that ICAD is not financially healthy enough and could expect problems in meeting its short term obligations.
  • ICAD has a Quick ratio of 0.81. This is in the better half of the industry: ICAD outperforms 76.19% of its industry peers.
Industry RankSector Rank
Current Ratio 1.06
Quick Ratio 0.81
ICAD.PA Yearly Current Assets VS Current LiabilitesICAD.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for ICAD have decreased strongly by -72.25% in the last year.
  • The Earnings Per Share has been decreasing by -9.69% on average over the past years.
  • The Revenue for ICAD has decreased by -13.82% in the past year. This is quite bad
  • ICAD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.64% yearly.
EPS 1Y (TTM)-72.25%
EPS 3YN/A
EPS 5Y-9.69%
EPS Q2Q%-10.91%
Revenue 1Y (TTM)-13.82%
Revenue growth 3Y-1.82%
Revenue growth 5Y0.64%
Sales Q2Q%-74.49%

3.2 Future

  • ICAD is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -3.39% yearly.
  • ICAD is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.57% yearly.
EPS Next Y10.09%
EPS Next 2Y-1.13%
EPS Next 3Y-3.39%
EPS Next 5YN/A
Revenue Next Year-8.17%
Revenue Next 2Y-5.52%
Revenue Next 3Y-4.57%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ICAD.PA Yearly Revenue VS EstimatesICAD.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
ICAD.PA Yearly EPS VS EstimatesICAD.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4 5

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 7.16 indicates a rather cheap valuation of ICAD.
  • Based on the Price/Earnings ratio, ICAD is valued cheaply inside the industry as 97.62% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 27.11, ICAD is valued rather cheaply.
  • The Price/Forward Earnings ratio is 6.91, which indicates a rather cheap valuation of ICAD.
  • Based on the Price/Forward Earnings ratio, ICAD is valued cheaper than 97.62% of the companies in the same industry.
  • ICAD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.13.
Industry RankSector Rank
PE 7.16
Fwd PE 6.91
ICAD.PA Price Earnings VS Forward Price EarningsICAD.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ICAD is valued cheaply inside the industry as 95.24% of the companies are valued more expensively.
  • ICAD's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 15.76
EV/EBITDA 10.49
ICAD.PA Per share dataICAD.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A cheap valuation may be justified as ICAD's earnings are expected to decrease with -3.39% in the coming years.
PEG (NY)0.71
PEG (5Y)N/A
EPS Next 2Y-1.13%
EPS Next 3Y-3.39%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • ICAD has a Yearly Dividend Yield of 9.06%, which is a nice return.
  • Compared to an average industry Dividend Yield of 5.29, ICAD pays a better dividend. On top of this ICAD pays more dividend than 90.48% of the companies listed in the same industry.
  • ICAD's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 9.06%

5.2 History

  • The dividend of ICAD has a limited annual growth rate of 1.04%.
Dividend Growth(5Y)1.04%
Div Incr Years1
Div Non Decr Years1
ICAD.PA Yearly Dividends per shareICAD.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

  • ICAD has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-186.23%
EPS Next 2Y-1.13%
EPS Next 3Y-3.39%
ICAD.PA Yearly Income VS Free CF VS DividendICAD.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500M -1B

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ICADE

EPA:ICAD (2/27/2026, 10:50:37 AM)

21.34

+0.32 (+1.52%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-17
Earnings (Next)04-14
Inst Owners73.16%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap1.63B
Revenue(TTM)1.50B
Net Income(TTM)-186.70M
Analysts48.7
Price Target22.17 (3.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 9.06%
Yearly Dividend4.84
Dividend Growth(5Y)1.04%
DP-186.23%
Div Incr Years1
Div Non Decr Years1
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)-5.05%
PT rev (3m)-11%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.83%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.98%
Revenue NY rev (3m)-1.62%
Valuation
Industry RankSector Rank
PE 7.16
Fwd PE 6.91
P/S 1.09
P/FCF 15.76
P/OCF 4.96
P/B 0.42
P/tB 0.42
EV/EBITDA 10.49
EPS(TTM)2.98
EY13.96%
EPS(NY)3.09
Fwd EY14.47%
FCF(TTM)1.35
FCFY6.34%
OCF(TTM)4.3
OCFY20.17%
SpS19.67
BVpS51.19
TBVpS50.76
PEG (NY)0.71
PEG (5Y)N/A
Graham Number58.58
Profitability
Industry RankSector Rank
ROA -1.84%
ROE -4.78%
ROCE 3.87%
ROIC 2.76%
ROICexc 3.38%
ROICexgc 3.4%
OM 19.6%
PM (TTM) N/A
GM N/A
FCFM 6.88%
ROA(3y)-4.37%
ROA(5y)-2.07%
ROE(3y)-10.21%
ROE(5y)-4.69%
ROIC(3y)2.14%
ROIC(5y)2.38%
ROICexc(3y)2.49%
ROICexc(5y)2.67%
ROICexgc(3y)2.5%
ROICexgc(5y)2.68%
ROCE(3y)3.06%
ROCE(5y)3.38%
ROICexgc growth 3Y-8.78%
ROICexgc growth 5Y2.92%
ROICexc growth 3Y-8.79%
ROICexc growth 5Y2.96%
OM growth 3Y-28.23%
OM growth 5Y-3.84%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 45.31
Debt/EBITDA 9.41
Cap/Depr 210.38%
Cap/Sales 15%
Interest Coverage 4.11
Cash Conversion 81.88%
Profit Quality N/A
Current Ratio 1.06
Quick Ratio 0.81
Altman-Z 0.64
F-Score5
WACC2.89%
ROIC/WACC0.95
Cap/Depr(3y)678.24%
Cap/Depr(5y)1255.8%
Cap/Sales(3y)20.42%
Cap/Sales(5y)31.98%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-72.25%
EPS 3YN/A
EPS 5Y-9.69%
EPS Q2Q%-10.91%
EPS Next Y10.09%
EPS Next 2Y-1.13%
EPS Next 3Y-3.39%
EPS Next 5YN/A
Revenue 1Y (TTM)-13.82%
Revenue growth 3Y-1.82%
Revenue growth 5Y0.64%
Sales Q2Q%-74.49%
Revenue Next Year-8.17%
Revenue Next 2Y-5.52%
Revenue Next 3Y-4.57%
Revenue Next 5YN/A
EBIT growth 1Y74.88%
EBIT growth 3Y-29.53%
EBIT growth 5Y-3.23%
EBIT Next Year51.05%
EBIT Next 3Y13.12%
EBIT Next 5Y8.67%
FCF growth 1Y240.6%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-17.65%
OCF growth 3Y-11.53%
OCF growth 5Y-0.14%

ICADE / ICAD.PA FAQ

What is the ChartMill fundamental rating of ICADE (ICAD.PA) stock?

ChartMill assigns a fundamental rating of 3 / 10 to ICAD.PA.


What is the valuation status of ICADE (ICAD.PA) stock?

ChartMill assigns a valuation rating of 7 / 10 to ICADE (ICAD.PA). This can be considered as Undervalued.


How profitable is ICADE (ICAD.PA) stock?

ICADE (ICAD.PA) has a profitability rating of 2 / 10.


Can you provide the PE and PB ratios for ICAD stock?

The Price/Earnings (PE) ratio for ICADE (ICAD.PA) is 7.16 and the Price/Book (PB) ratio is 0.42.


What is the earnings growth outlook for ICADE?

The Earnings per Share (EPS) of ICADE (ICAD.PA) is expected to grow by 10.09% in the next year.