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FONCIERE INEA (INEA.PA) Stock Fundamental Analysis

EPA:INEA - Euronext Paris - Matif - FR0010341032 - REIT - Currency: EUR

34.7  -0.2 (-0.57%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to INEA. INEA was compared to 40 industry peers in the Diversified REITs industry. While INEA is still in line with the averages on profitability rating, there are concerns on its financial health. INEA is valied quite expensively at the moment, while it does show a decent growth rate. INEA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

INEA had negative earnings in the past year.
INEA had a positive operating cash flow in the past year.
INEA had positive earnings in 4 of the past 5 years.
INEA had a positive operating cash flow in each of the past 5 years.
INEA.PA Yearly Net Income VS EBIT VS OCF VS FCFINEA.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

1.2 Ratios

INEA has a Return On Assets of -0.25%. This is in the lower half of the industry: INEA underperforms 72.50% of its industry peers.
Looking at the Return On Equity, with a value of -0.55%, INEA is doing worse than 72.50% of the companies in the same industry.
The Return On Invested Capital of INEA (3.21%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for INEA is in line with the industry average of 3.63%.
The 3 year average ROIC (2.81%) for INEA is below the current ROIC(3.21%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.25%
ROE -0.55%
ROIC 3.21%
ROA(3y)2.33%
ROA(5y)3.54%
ROE(3y)4.2%
ROE(5y)6.76%
ROIC(3y)2.81%
ROIC(5y)2.84%
INEA.PA Yearly ROA, ROE, ROICINEA.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

1.3 Margins

INEA has a Operating Margin of 61.98%. This is in the lower half of the industry: INEA underperforms 65.00% of its industry peers.
In the last couple of years the Operating Margin of INEA has grown nicely.
Looking at the Gross Margin, with a value of 72.21%, INEA is in line with its industry, outperforming 45.00% of the companies in the same industry.
In the last couple of years the Gross Margin of INEA has remained more or less at the same level.
Industry RankSector Rank
OM 61.98%
PM (TTM) N/A
GM 72.21%
OM growth 3Y0.58%
OM growth 5Y1.79%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.57%
GM growth 5Y0.31%
INEA.PA Yearly Profit, Operating, Gross MarginsINEA.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

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1

2. Health

2.1 Basic Checks

INEA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
INEA has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, INEA has more shares outstanding
INEA has a worse debt/assets ratio than last year.
INEA.PA Yearly Shares OutstandingINEA.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
INEA.PA Yearly Total Debt VS Total AssetsINEA.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

INEA has an Altman-Z score of 0.82. This is a bad value and indicates that INEA is not financially healthy and even has some risk of bankruptcy.
INEA has a worse Altman-Z score (0.82) than 62.50% of its industry peers.
INEA has a debt to FCF ratio of 10.20. This is a negative value and a sign of low solvency as INEA would need 10.20 years to pay back of all of its debts.
The Debt to FCF ratio of INEA (10.20) is better than 70.00% of its industry peers.
A Debt/Equity ratio of 1.00 is on the high side and indicates that INEA has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.00, INEA is doing worse than 80.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1
Debt/FCF 10.2
Altman-Z 0.82
ROIC/WACC0.59
WACC5.44%
INEA.PA Yearly LT Debt VS Equity VS FCFINEA.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

A Current Ratio of 0.33 indicates that INEA may have some problems paying its short term obligations.
With a Current ratio value of 0.33, INEA is not doing good in the industry: 65.00% of the companies in the same industry are doing better.
A Quick Ratio of 0.33 indicates that INEA may have some problems paying its short term obligations.
With a Quick ratio value of 0.33, INEA is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.33
Quick Ratio 0.33
INEA.PA Yearly Current Assets VS Current LiabilitesINEA.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M

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4

3. Growth

3.1 Past

The earnings per share for INEA have decreased strongly by -114.03% in the last year.
Looking at the last year, INEA shows a quite strong growth in Revenue. The Revenue has grown by 15.54% in the last year.
The Revenue has been growing by 12.20% on average over the past years. This is quite good.
EPS 1Y (TTM)-114.03%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%18.03%
Revenue 1Y (TTM)15.54%
Revenue growth 3Y14.54%
Revenue growth 5Y12.2%
Sales Q2Q%14.16%

3.2 Future

Based on estimates for the next years, INEA will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.15% on average per year.
Based on estimates for the next years, INEA will show a small growth in Revenue. The Revenue will grow by 3.80% on average per year.
EPS Next Y4.28%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue Next Year8.54%
Revenue Next 2Y6.96%
Revenue Next 3Y11.41%
Revenue Next 5Y3.8%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
INEA.PA Yearly Revenue VS EstimatesINEA.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20M 40M 60M 80M 100M
INEA.PA Yearly EPS VS EstimatesINEA.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for INEA. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 13.50, INEA is valued correctly.
Based on the Price/Forward Earnings ratio, INEA is valued a bit more expensive than the industry average as 65.00% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.60, INEA is valued a bit cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 13.5
INEA.PA Price Earnings VS Forward Price EarningsINEA.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -50 -100

4.2 Price Multiples

INEA's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, INEA is valued cheaper than 95.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.1
EV/EBITDA 20.52
INEA.PA Per share dataINEA.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y8.98%
EPS Next 3Y10.15%

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7

5. Dividend

5.1 Amount

INEA has a Yearly Dividend Yield of 7.83%, which is a nice return.
Compared to an average industry Dividend Yield of 5.53, INEA pays a better dividend. On top of this INEA pays more dividend than 97.50% of the companies listed in the same industry.
INEA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 7.83%

5.2 History

The dividend of INEA has a limited annual growth rate of 1.13%.
Dividend Growth(5Y)1.13%
Div Incr Years1
Div Non Decr Years1
INEA.PA Yearly Dividends per shareINEA.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

INEA has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of INEA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-966.43%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
INEA.PA Yearly Income VS Free CF VS DividendINEA.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

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FONCIERE INEA

EPA:INEA (6/30/2025, 7:00:00 PM)

34.7

-0.2 (-0.57%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)04-29 2025-04-29
Earnings (Next)N/A N/A
Inst Owners7.82%
Inst Owner ChangeN/A
Ins Owners9.97%
Ins Owner ChangeN/A
Market Cap376.15M
Analysts44
Price Target38.3 (10.37%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.83%
Yearly Dividend2.7
Dividend Growth(5Y)1.13%
DP-966.43%
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)4.11%
PT rev (3m)4.11%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.18%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.36%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 13.5
P/S 4.82
P/FCF 6.1
P/OCF 6.1
P/B 0.68
P/tB 0.68
EV/EBITDA 20.52
EPS(TTM)-0.28
EYN/A
EPS(NY)2.57
Fwd EY7.41%
FCF(TTM)5.69
FCFY16.38%
OCF(TTM)5.69
OCFY16.39%
SpS7.2
BVpS51.01
TBVpS51.01
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.25%
ROE -0.55%
ROCE 4.36%
ROIC 3.21%
ROICexc 3.23%
ROICexgc 3.23%
OM 61.98%
PM (TTM) N/A
GM 72.21%
FCFM 79%
ROA(3y)2.33%
ROA(5y)3.54%
ROE(3y)4.2%
ROE(5y)6.76%
ROIC(3y)2.81%
ROIC(5y)2.84%
ROICexc(3y)2.82%
ROICexc(5y)2.86%
ROICexgc(3y)2.82%
ROICexgc(5y)2.86%
ROCE(3y)3.83%
ROCE(5y)3.87%
ROICexcg growth 3Y2.87%
ROICexcg growth 5Y3.12%
ROICexc growth 3Y2.9%
ROICexc growth 5Y3.15%
OM growth 3Y0.58%
OM growth 5Y1.79%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.57%
GM growth 5Y0.31%
F-Score3
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 1
Debt/FCF 10.2
Debt/EBITDA 11.39
Cap/Depr 4.92%
Cap/Sales 0.02%
Interest Coverage 1.53
Cash Conversion 126.54%
Profit Quality N/A
Current Ratio 0.33
Quick Ratio 0.33
Altman-Z 0.82
F-Score3
WACC5.44%
ROIC/WACC0.59
Cap/Depr(3y)8.98%
Cap/Depr(5y)76.3%
Cap/Sales(3y)0.04%
Cap/Sales(5y)0.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-114.03%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%18.03%
EPS Next Y4.28%
EPS Next 2Y8.98%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue 1Y (TTM)15.54%
Revenue growth 3Y14.54%
Revenue growth 5Y12.2%
Sales Q2Q%14.16%
Revenue Next Year8.54%
Revenue Next 2Y6.96%
Revenue Next 3Y11.41%
Revenue Next 5Y3.8%
EBIT growth 1Y15.46%
EBIT growth 3Y15.21%
EBIT growth 5Y14.21%
EBIT Next Year100.62%
EBIT Next 3YN/A
EBIT Next 5Y19.02%
FCF growth 1Y106.48%
FCF growth 3Y32.5%
FCF growth 5Y32.16%
OCF growth 1Y106.47%
OCF growth 3Y31.59%
OCF growth 5Y32.17%