PATRIMOINE ET COMMERCE-REGR (PAT.PA) Stock Fundamental Analysis
EPA:PAT - Euronext Paris - Matif - FR0011027135 - Common Stock - Currency: EUR
Overall PAT gets a fundamental rating of 5 out of 10. We evaluated PAT against 40 industry peers in the Diversified REITs industry. PAT has an excellent profitability rating, but there are concerns on its financial health. PAT may be a bit undervalued, certainly considering the very reasonable score on growth Finally PAT also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
PAT had positive earnings in the past year.
In the past year PAT had a positive cash flow from operations.
Each year in the past 5 years PAT has been profitable.
PAT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
PAT has a better Return On Assets (4.27%) than 75.00% of its industry peers.
The Return On Equity of PAT (8.56%) is better than 77.50% of its industry peers.
With a decent Return On Invested Capital value of 3.76%, PAT is doing good in the industry, outperforming 65.00% of the companies in the same industry.
PAT had an Average Return On Invested Capital over the past 3 years of 3.57%. This is in line with the industry average of 3.63%.
The 3 year average ROIC (3.57%) for PAT is below the current ROIC(3.76%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.27% | ||
| ROE | 8.56% | ||
| ROIC | 3.76% |
ROA(3y)4.22%
ROA(5y)3.64%
ROE(3y)8.75%
ROE(5y)7.76%
ROIC(3y)3.57%
ROIC(5y)3.5%
1.3 Margins
PAT has a Profit Margin of 72.32%. This is in the better half of the industry: PAT outperforms 77.50% of its industry peers.
PAT's Profit Margin has improved in the last couple of years.
The Operating Margin of PAT (76.86%) is better than 65.00% of its industry peers.
PAT's Operating Margin has declined in the last couple of years.
PAT has a Gross Margin of 89.83%. This is in the better half of the industry: PAT outperforms 77.50% of its industry peers.
PAT's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 76.86% | ||
| PM (TTM) | 72.32% | ||
| GM | 89.83% |
OM growth 3Y-2.02%
OM growth 5Y-2.83%
PM growth 3Y0.28%
PM growth 5Y5.42%
GM growth 3Y-1.1%
GM growth 5Y-0.61%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so PAT is destroying value.
The number of shares outstanding for PAT has been increased compared to 1 year ago.
PAT has more shares outstanding than it did 5 years ago.
The debt/assets ratio for PAT has been reduced compared to a year ago.
2.2 Solvency
PAT has an Altman-Z score of 1.01. This is a bad value and indicates that PAT is not financially healthy and even has some risk of bankruptcy.
PAT's Altman-Z score of 1.01 is in line compared to the rest of the industry. PAT outperforms 60.00% of its industry peers.
The Debt to FCF ratio of PAT is 14.65, which is on the high side as it means it would take PAT, 14.65 years of fcf income to pay off all of its debts.
PAT has a Debt to FCF ratio (14.65) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.73 indicates that PAT is somewhat dependend on debt financing.
The Debt to Equity ratio of PAT (0.73) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | 14.65 | ||
| Altman-Z | 1.01 |
ROIC/WACC0.77
WACC4.86%
2.3 Liquidity
PAT has a Current Ratio of 0.41. This is a bad value and indicates that PAT is not financially healthy enough and could expect problems in meeting its short term obligations.
PAT's Current ratio of 0.41 is in line compared to the rest of the industry. PAT outperforms 45.00% of its industry peers.
PAT has a Quick Ratio of 0.41. This is a bad value and indicates that PAT is not financially healthy enough and could expect problems in meeting its short term obligations.
PAT's Quick ratio of 0.41 is in line compared to the rest of the industry. PAT outperforms 45.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. Growth
3.1 Past
PAT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 38.17%, which is quite impressive.
The Earnings Per Share has been growing slightly by 7.44% on average over the past years.
The Revenue has grown by 12.11% in the past year. This is quite good.
PAT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.13% yearly.
EPS 1Y (TTM)38.17%
EPS 3Y7.68%
EPS 5Y7.44%
EPS Q2Q%55.3%
Revenue 1Y (TTM)12.11%
Revenue growth 3Y8.83%
Revenue growth 5Y4.13%
Sales Q2Q%17.84%
3.2 Future
PAT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.59% yearly.
PAT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.59% yearly.
EPS Next Y25.24%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPS Next 5YN/A
Revenue Next Year11.32%
Revenue Next 2Y9.03%
Revenue Next 3Y7.59%
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 accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.09 indicates a reasonable valuation of PAT.
80.00% of the companies in the same industry are more expensive than PAT, based on the Price/Earnings ratio.
PAT is valuated cheaply when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 9.04, the valuation of PAT can be described as very reasonable.
Based on the Price/Forward Earnings ratio, PAT is valued cheaply inside the industry as 82.50% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 21.90. PAT is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.09 | ||
| Fwd PE | 9.04 |
4.2 Price Multiples
PAT's Enterprise Value to EBITDA is on the same level as the industry average.
PAT's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.17 | ||
| EV/EBITDA | 17.86 |
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.
PAT has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as PAT's earnings are expected to grow with 25.59% in the coming years.
PEG (NY)0.36
PEG (5Y)1.22
EPS Next 2Y20.12%
EPS Next 3Y25.59%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.56%, PAT is a good candidate for dividend investing.
PAT's Dividend Yield is comparable with the industry average which is at 5.52.
PAT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.56% |
5.2 History
The dividend of PAT has a limited annual growth rate of 1.91%.
Dividend Growth(5Y)1.91%
Div Incr Years3
Div Non Decr Years4
5.3 Sustainability
50.51% of the earnings are spent on dividend by PAT. This is a bit on the high side, but may be sustainable.
PAT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP50.51%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPA:PAT (7/4/2025, 7:00:00 PM)
24
-0.3 (-1.23%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners29.07%
Inst Owner ChangeN/A
Ins Owners6.31%
Ins Owner ChangeN/A
Market Cap383.28M
Analysts84
Price Target25.5 (6.25%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.56% |
Yearly Dividend1.34
Dividend Growth(5Y)1.91%
DP50.51%
Div Incr Years3
Div Non Decr Years4
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)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.09 | ||
| Fwd PE | 9.04 | ||
| P/S | 6.77 | ||
| P/FCF | 13.17 | ||
| P/OCF | 8.71 | ||
| P/B | 0.8 | ||
| P/tB | 0.8 | ||
| EV/EBITDA | 17.86 |
EPS(TTM)2.64
EY11%
EPS(NY)2.66
Fwd EY11.07%
FCF(TTM)1.82
FCFY7.59%
OCF(TTM)2.76
OCFY11.48%
SpS3.55
BVpS29.96
TBVpS29.96
PEG (NY)0.36
PEG (5Y)1.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.27% | ||
| ROE | 8.56% | ||
| ROCE | 5.18% | ||
| ROIC | 3.76% | ||
| ROICexc | 3.85% | ||
| ROICexgc | 3.85% | ||
| OM | 76.86% | ||
| PM (TTM) | 72.32% | ||
| GM | 89.83% | ||
| FCFM | 51.36% |
ROA(3y)4.22%
ROA(5y)3.64%
ROE(3y)8.75%
ROE(5y)7.76%
ROIC(3y)3.57%
ROIC(5y)3.5%
ROICexc(3y)3.8%
ROICexc(5y)3.87%
ROICexgc(3y)3.8%
ROICexgc(5y)3.87%
ROCE(3y)4.91%
ROCE(5y)4.8%
ROICexcg growth 3Y0.81%
ROICexcg growth 5Y-1.2%
ROICexc growth 3Y0.81%
ROICexc growth 5Y-1.2%
OM growth 3Y-2.02%
OM growth 5Y-2.83%
PM growth 3Y0.28%
PM growth 5Y5.42%
GM growth 3Y-1.1%
GM growth 5Y-0.61%
F-Score6
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | 14.65 | ||
| Debt/EBITDA | 8.04 | ||
| Cap/Depr | 7530.3% | ||
| Cap/Sales | 26.32% | ||
| Interest Coverage | 3.64 | ||
| Cash Conversion | 100.62% | ||
| Profit Quality | 71.02% | ||
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 | ||
| Altman-Z | 1.01 |
F-Score6
WACC4.86%
ROIC/WACC0.77
Cap/Depr(3y)14486%
Cap/Depr(5y)46663.9%
Cap/Sales(3y)64.67%
Cap/Sales(5y)49.18%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)38.17%
EPS 3Y7.68%
EPS 5Y7.44%
EPS Q2Q%55.3%
EPS Next Y25.24%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPS Next 5YN/A
Revenue 1Y (TTM)12.11%
Revenue growth 3Y8.83%
Revenue growth 5Y4.13%
Sales Q2Q%17.84%
Revenue Next Year11.32%
Revenue Next 2Y9.03%
Revenue Next 3Y7.59%
Revenue Next 5YN/A
EBIT growth 1Y6.64%
EBIT growth 3Y6.63%
EBIT growth 5Y1.19%
EBIT Next Year139.13%
EBIT Next 3Y37.66%
EBIT Next 5YN/A
FCF growth 1Y33.03%
FCF growth 3Y13.18%
FCF growth 5YN/A
OCF growth 1Y7.12%
OCF growth 3Y6.84%
OCF growth 5Y-0.24%