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. While PAT belongs to the best of the industry regarding profitability, 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
In the past year PAT was profitable.
In the past year PAT had a positive cash flow from operations.
In the past 5 years PAT has always been profitable.
PAT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 4.27%, PAT is doing good in the industry, outperforming 75.00% of the companies in the same industry.
PAT has a better Return On Equity (8.56%) than 77.50% of its industry peers.
The Return On Invested Capital of PAT (3.76%) is better than 65.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for PAT is in line with the industry average of 3.63%.
The last Return On Invested Capital (3.76%) for PAT is above the 3 year average (3.57%), which is a sign of increasing profitability.
| 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's Profit Margin of 72.32% is fine compared to the rest of the industry. PAT outperforms 77.50% of its industry peers.
In the last couple of years the Profit Margin of PAT has grown nicely.
PAT has a better Operating Margin (76.86%) than 65.00% of its industry peers.
In the last couple of years the Operating Margin of PAT has declined.
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.
In the last couple of years the Gross Margin of PAT has remained more or less at the same level.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PAT is destroying value.
Compared to 1 year ago, PAT has more shares outstanding
Compared to 5 years ago, PAT has more shares outstanding
The debt/assets ratio for PAT has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.01, we must say that PAT is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.01, PAT is in line with its industry, outperforming 60.00% of the companies in the same industry.
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 of 14.65. This is comparable to the rest of the industry: PAT outperforms 42.50% of its industry peers.
A Debt/Equity ratio of 0.73 indicates that PAT is somewhat dependend on debt financing.
PAT has a Debt to Equity ratio (0.73) which 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.
The Current ratio of PAT (0.41) is comparable to the rest of the industry.
A Quick Ratio of 0.41 indicates that PAT may have some problems paying its short term obligations.
PAT has a Quick ratio (0.41) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 38.17% over the past year.
PAT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.44% yearly.
Looking at the last year, PAT shows a quite strong growth in Revenue. The Revenue has grown by 12.11% in the last year.
The Revenue has been growing slightly by 4.13% on average over the past years.
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.
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
PAT is valuated reasonably with a Price/Earnings ratio of 9.09.
Based on the Price/Earnings ratio, PAT is valued a bit cheaper than 80.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.29, PAT is valued rather cheaply.
With a Price/Forward Earnings ratio of 9.04, the valuation of PAT can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of PAT indicates a rather cheap valuation: PAT is cheaper than 82.50% of the companies listed in the same industry.
PAT is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.74, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.09 | ||
| Fwd PE | 9.04 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PAT is on the same level as its industry peers.
PAT's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.17 | ||
| EV/EBITDA | 17.86 |
4.3 Compensation for Growth
PAT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of PAT 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.
Compared to an average industry Dividend Yield of 5.54, PAT has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.37, PAT pays a better dividend.
| 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
PAT pays out 50.51% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of PAT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP50.51%
EPS Next 2Y20.12%
EPS Next 3Y25.59%
EPA:PAT (7/8/2025, 9:47:58 AM)
24
0 (0%)
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%