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Societe Marseillaise du Tunnel Prado Carenage
(ALTPC)
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Rating:79Outperform
Price Target:
€33.00
▲(17.44% Upside)
Action:Reiterated
Date:05/01/26
The score is driven primarily by strong financial performance (solid profitability, strong and improving free cash flow, and deleveraging). Technicals add support with a positive trend and momentum, while valuation is attractive thanks to a moderate P/E and high dividend yield. Offsetting factors include modest recent revenue growth and incomplete 2025 ratio visibility.
Positive Factors
Cash Generation
Consistent and improving operating and free cash flow through 2023–2025 provides durable internal financing for tunnel maintenance, capital expenditures and discretionary uses. Strong cash conversion reduces dependence on external financing and supports long-term payout and debt reduction strategies.
Negative Factors
Modest Revenue Growth
Top-line expansion has been modest (~3.7% reported), reflecting limited traffic growth or constrained pricing levers in an urban tunnel setting. Slower revenue momentum limits the pace at which the company can expand margins, invest in upgrades, or accelerate deleveraging without relying on non-operating measures.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Consistent and improving operating and free cash flow through 2023–2025 provides durable internal financing for tunnel maintenance, capital expenditures and discretionary uses. Strong cash conversion reduces dependence on external financing and supports long-term payout and debt reduction strategies.
Read all positive factors
Societe Marseillaise du Tunnel Prado Carenage (ALTPC) vs. iShares MSCI France ETF (EWQ)
Market Cap
€159.36M
Dividend Yield7.83%
Average Volume (3M)1.37K
Price to Earnings (P/E)15.2
Beta (1Y)0.05
Revenue Growth3.73%
EPS Growth11.41%
CountryFR
Employees65
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)1.80
Shares Outstanding5,837,500
10 Day Avg. Volume1,800
30 Day Avg. Volume1,369
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)2.30
Price to Sales (P/S)4.13
P/FCF Ratio6.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.99
Revenue Forecast (FY)€39.58M
Societe Marseillaise du Tunnel Prado Carenage Business Overview & Revenue Model
Company Description
Specializing in French tunnel infrastructure, Société Marseillaise du Tunnel Prado Carénage undertakes both their construction and ongoing management. The company, established in 1989 with its headquarters in Marseille, oversees the operation of p...
How the Company Makes Money
ALTPC makes money primarily by collecting tolls from vehicles that use the Prado-Carénage tunnel. Revenue is generated on a per-vehicle basis, with toll levels typically set under the terms of the tunnel’s operating framework. Additional earnings ...
Societe Marseillaise du Tunnel Prado Carenage Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 39.47M | 38.05M | 37.75M | 35.02M | 32.53M |
| Gross Profit | 16.57M | 33.26M | 28.46M | 18.55M | 29.48M |
| EBITDA | 26.68M | 30.45M | 29.62M | 27.80M | 25.02M |
| Net Income | 10.52M | 9.44M | 11.94M | 12.97M | 10.67M |
Balance Sheet | |||||
| Total Assets | 121.19M | 129.40M | 139.26M | 144.44M | 141.59M |
| Cash, Cash Equivalents and Short-Term Investments | 48.92M | 43.98M | 41.74M | 46.96M | 46.96M |
| Total Debt | 37.99M | 45.87M | 53.30M | 59.84M | 56.93M |
| Total Liabilities | 50.46M | 56.35M | 63.39M | 69.43M | 68.45M |
| Stockholders Equity | 70.73M | 73.05M | 75.87M | 75.01M | 73.14M |
Cash Flow | |||||
| Free Cash Flow | 25.52M | 22.06M | 12.42M | 7.96M | 13.29M |
| Operating Cash Flow | 26.92M | 24.20M | 22.14M | 18.71M | 25.29M |
| Investing Cash Flow | -1.40M | -2.14M | -9.73M | -10.75M | -12.00M |
| Financing Cash Flow | -20.59M | -19.82M | -17.63M | -7.96M | -5.69M |
Societe Marseillaise du Tunnel Prado Carenage Technical Analysis
Neutral
28.10
Price Trends
27.04
Positive
26.64
Positive
26.04
Positive
Market Momentum
0.06
Positive
49.96
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALTPC, the sentiment is Neutral. The current price of 28.1 is above the 20-day moving average (MA) of 27.26, above the 50-day MA of 27.04, and above the 200-day MA of 26.04, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 49.96 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:ALTPC.
Societe Marseillaise du Tunnel Prado Carenage Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €159.36M | 15.17 | 14.64% | 7.83% | 3.73% | 11.41% | |
64 Neutral | €1.53B | 11.60 | 11.12% | 1.90% | -2.88% | 24.77% | |
63 Neutral | €991.81M | 11.76 | 17.70% | 3.03% | 5.07% | 9.96% | |
58 Neutral | €1.14B | 9.57 | ― | 3.96% | 7.76% | 18.31% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €1.47B | -11.97 | -4.49% | 20.25% | -7.79% | 55.44% | |
46 Neutral | €447.65M | -2.34 | -19.97% | ― | -15.36% | -201.63% |
* General Sector Average
FR:ALTPC
Societe Marseillaise du Tunnel Prado Carenage
27.20
1.40
5.42%
FR:CDA
Compagnie des Alpes
22.40
2.72
13.85%
FR:DBG
Derichebourg
9.93
4.33
77.26%
FR:GLO
GL EVENTS
34.70
7.78
28.89%
FR:ICAD
Icade SA
19.23
-0.40
-2.05%
FR:NXI
NEXITY
8.04
-1.71
-17.50%
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.