Covivio SA (FR:COV)
:COV
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Covivio SA
(COV)
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Rating:58Neutral
Price Target:
€63.00
▲(4.74% Upside)
Action:ReiteratedDate:03/28/26
The score is driven by mixed financial quality (profit rebound but volatile results, meaningful leverage, and weaker 2025 free-cash-flow conversion) and bearish technicals (downtrend with negative momentum). These risks are partly offset by attractive valuation (very low P/E) and a moderate dividend yield.
Positive Factors
Diversified portfolio: offices, residential, hotels
Covivio’s exposure across offices, residential and hotels provides structural revenue diversification across different demand cycles and tenant types. This mix reduces reliance on any single market, smoothing cash flows and value creation opportunities from development and asset rotation over the medium term.
Negative Factors
Meaningful leverage: debt above equity
Net debt materially above equity increases sensitivity to interest-rate moves and refinancing cycles, constraining flexibility for acquisitions or portfolio upgrades. Elevated leverage raises default and funding-risk during downturns and amplifies earnings volatility when valuation or rental cash flows weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified portfolio: offices, residential, hotels
Covivio’s exposure across offices, residential and hotels provides structural revenue diversification across different demand cycles and tenant types. This mix reduces reliance on any single market, smoothing cash flows and value creation opportunities from development and asset rotation over the medium term.
Read all positive factors
Covivio SA (COV) vs. iShares MSCI France ETF (EWQ)
Market Cap
€6.53B
Dividend Yield6.37%
Average Volume (3M)116.62K
Price to Earnings (P/E)8.5
Beta (1Y)0.64
Revenue Growth8.36%
EPS GrowthN/A
CountryFR
Employees989
SectorGeneral
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)2.39
Shares Outstanding111,623,470
10 Day Avg. Volume89,066
30 Day Avg. Volume116,620
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.73
Price to Sales (P/S)5.90
P/FCF Ratio48.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€62.00Price Target Upside3.08% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)4.86
Revenue Forecast (FY)€718.25M
Covivio SA Business Overview & Revenue Model
Company Description
{A preferred real estate player at the European level, Covivio is close to its end users, capturing their aspirations, combining work, travel, living, and co-inventing vibrant spaces. A benchmark in the European real estate market with €25 Billion...
How the Company Makes Money
Covivio makes money primarily by owning and operating income-producing real estate and, to a lesser extent, by developing and rotating assets.
1) Rental income (core recurring revenue): The main source of revenue is rent collected from tenants ac...
Covivio SA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.06B | 1.28B | 1.02B | 1.20B | 1.06B |
| Gross Profit | 927.90M | 977.00M | 826.57M | 896.82M | 798.84M |
| EBITDA | 1.13B | 1.70B | 660.17M | 828.91M | 740.98M |
| Net Income | 738.70M | 68.10M | -1.42B | 620.69M | 923.60M |
Balance Sheet | |||||
| Total Assets | 25.34B | 24.89B | 25.03B | 27.73B | 28.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.21B | 1.04B | 900.62M | 461.54M | 1.06B |
| Total Debt | 10.63B | 10.75B | 11.04B | 11.27B | 12.14B |
| Total Liabilities | 12.69B | 12.87B | 13.06B | 13.64B | 14.68B |
| Stockholders Equity | 8.61B | 8.23B | 7.96B | 9.44B | 9.19B |
Cash Flow | |||||
| Free Cash Flow | 128.70M | 3.85B | 540.66M | -7.08M | -157.86M |
| Operating Cash Flow | 708.30M | 9.80B | 1.03B | 560.75M | 539.65M |
| Investing Cash Flow | -123.40M | -1.37B | 171.01M | 323.80M | 203.24M |
| Financing Cash Flow | -383.30M | -7.39B | -722.91M | -1.52B | -914.55M |
Covivio SA Technical Analysis
Positive
60.15
Price Trends
55.26
Positive
54.21
Positive
54.42
Positive
Market Momentum
1.12
Negative
70.67
Negative
91.66
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:COV, the sentiment is Positive. The current price of 60.15 is above the 20-day moving average (MA) of 54.40, above the 50-day MA of 55.26, and above the 200-day MA of 54.42, indicating a bullish trend. The MACD of 1.12 indicates Negative momentum. The RSI at 70.67 is Negative, neither overbought nor oversold. The STOCH value of 91.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:COV.
Covivio SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €9.92B | 4.00 | 11.02% | 5.04% | 6.74% | 74.00% | |
59 Neutral | €5.37B | 13.36 | 4.93% | 6.39% | 3.84% | ― | |
58 Neutral | €6.53B | 8.50 | 5.11% | 6.37% | 8.36% | ― | |
58 Neutral | €2.76B | -453.64 | -0.71% | 7.34% | -4.87% | 97.55% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €1.57B | -13.56 | -4.49% | 20.25% | -6.91% | 80.39% | |
46 Neutral | €488.58M | -0.86 | -19.97% | ― | -16.43% | -371.45% |
* General Sector Average
FR:COV
Covivio SA
60.15
13.98
30.28%
FR:ALTA
ALTAREA
120.80
28.33
30.64%
FR:GFC
Gecina
74.05
-9.55
-11.43%
FR:ICAD
Icade SA
20.96
1.95
10.23%
FR:LI
Klepierre (ex Compagnie Fonciere Klepierre)
35.34
6.03
20.57%
FR:NXI
NEXITY
9.23
0.22
2.50%
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.