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ALTAREA
(ALTA)
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Rating:49Neutral
Price Target:
€94.00
▼(-20.47% Downside)
Action:Reiterated
Date:03/03/26
The score is held back primarily by weakening fundamentals (contracting revenue, thin/volatile profits) combined with elevated leverage and recently weaker free cash flow. Technicals are a relative bright spot with a positive uptrend and momentum, but valuation risk is high due to the extremely elevated P/E despite an attractive dividend yield.
Positive Factors
Diversified business model
Altarea combines property development with recurring real-estate services and asset/portfolio management. That mix provides structural resilience: development yields project upside while fees and rental/management income smooth cash flow and support profitability across cycles.
Negative Factors
Declining revenue trend
A sharp revenue decline in 2025 signals a shrinking development output or slower asset monetization. Persistently lower top-line reduces economies of scale, pressures fixed-cost absorption, erodes fee base and limits the firm's ability to rebuild margins and cash generation over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Altarea combines property development with recurring real-estate services and asset/portfolio management. That mix provides structural resilience: development yields project upside while fees and rental/management income smooth cash flow and support profitability across cycles.
Read all positive factors
ALTAREA (ALTA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€2.37B
Dividend Yield7.34%
Average Volume (3M)13.46K
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth-24.32%
EPS Growth10.55%
CountryFR
Employees1,594
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.37
Shares Outstanding24,760,832
10 Day Avg. Volume7,912
30 Day Avg. Volume13,455
Financial Highlights & Ratios
PEG Ratio10.73
Price to Book (P/B)1.52
Price to Sales (P/S)1.19
P/FCF Ratio-65.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€107.00Price Target Upside-9.48% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)7.38
Revenue Forecast (FY)€2.68B
ALTAREA Business Overview & Revenue Model
Company Description
Altarea holds the position of France's leading property developer. Operating as both a developer and an investor, the group is active in the three primary real estate segments – retail, residential, and commercial property – which enables it to le...
How the Company Makes Money
Altarea primarily makes money through (1) property development income and (2) recurring revenues from real estate-related operations. In property development, revenues are generated by developing and selling assets: residential units sold to indiv...
ALTAREA Financial Statement Overview
Summary
Income Statement
47
Neutral
Balance Sheet
42
Neutral
Cash Flow
51
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.08B | 2.71B | 2.71B | 3.03B | 2.81B |
| Gross Profit | 497.00M | 590.40M | 465.90M | 352.00M | 351.80M |
| EBITDA | 177.30M | 218.50M | -98.70M | 397.70M | 337.20M |
| Net Income | 8.40M | 6.10M | -472.90M | 74.40M | 72.20M |
Balance Sheet | |||||
| Total Assets | 7.96B | 8.40B | 8.34B | 4.28B | 4.48B |
| Cash, Cash Equivalents and Short-Term Investments | 383.50M | 804.10M | 713.10M | 952.30M | 1.63B |
| Total Debt | 2.58B | 2.74B | 2.68B | 1.31B | 1.69B |
| Total Liabilities | 4.88B | 5.24B | 5.12B | 3.13B | 3.40B |
| Stockholders Equity | 1.64B | 1.69B | 1.75B | 1.10B | 2.24B |
Cash Flow | |||||
| Free Cash Flow | -38.10M | 400.40M | 320.20M | -22.40M | 33.70M |
| Operating Cash Flow | 66.40M | 432.30M | 330.50M | -20.60M | 43.60M |
| Investing Cash Flow | -186.30M | -20.70M | 63.60M | -43.10M | -19.50M |
| Financing Cash Flow | -277.80M | -301.50M | -438.80M | -504.60M | 137.80M |
ALTAREA Technical Analysis
Negative
118.20
Price Trends
98.59
Negative
103.42
Negative
100.94
Negative
Market Momentum
-0.55
Positive
44.34
Neutral
26.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALTA, the sentiment is Negative. The current price of 118.2 is above the 20-day moving average (MA) of 97.37, above the 50-day MA of 98.59, and above the 200-day MA of 100.94, indicating a bearish trend. The MACD of -0.55 indicates Positive momentum. The RSI at 44.34 is Neutral, neither overbought nor oversold. The STOCH value of 26.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALTA.
ALTAREA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | €1.58B | 6.45 | 10.42% | 5.16% | 5.27% | -3.32% | |
65 Neutral | €135.22M | 7.94 | 6.91% | 6.63% | -18.85% | 19.87% | |
58 Neutral | €1.11B | 9.40 | ― | 3.96% | 7.76% | 18.31% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | €2.37B | -16.22 | -0.71% | 7.34% | -24.32% | 10.55% |
* General Sector Average
FR:ALTA
ALTAREA
96.90
4.45
4.81%
FR:ARG
ARGAN SA
61.70
1.98
3.31%
FR:CBOT
CBO TERRITORIA
3.90
0.46
13.41%
FR:CFI
Compagnie Fonciere Internationale
1.05
0.40
62.54%
FR:CDA
Compagnie des Alpes
21.80
1.89
9.48%
FR:ALDV
Alliance Developpement Capital SIIC
0.08
-0.01
-15.73%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.