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Gecina
(GFC)
Select Model
Select Model
Rating:61Neutral
Price Target:
€80.00
▲(8.11% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by mixed financial quality driven by weak 2025 cash flow (negative free cash flow) and historical earnings volatility, despite strong reported profitability and stable leverage. Technicals are supportive with the price above key moving averages and positive MACD. Valuation is balanced by a high dividend yield but an elevated P/E.
Positive Factors
Recurring rental income from Paris offices
Gecina's business model centers on recurring rental income from long-term commercial leases and central Paris residential rents. That contract-driven cashflow profile provides durable, predictable revenues and underpins funding for maintenance and selective redevelopment over the next several months to years.
Negative Factors
Negative free cash flow in 2025
Free cash flow's reversal to negative in 2025 and weakened operating cash relative to net income signal lower cash conversion. That reduces financial flexibility for capex, redevelopment, and distributions, increasing reliance on external financing or asset sales to fund strategic needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental income from Paris offices
Gecina's business model centers on recurring rental income from long-term commercial leases and central Paris residential rents. That contract-driven cashflow profile provides durable, predictable revenues and underpins funding for maintenance and selective redevelopment over the next several months to years.
Read all positive factors
Gecina (GFC) vs. iShares MSCI France ETF (EWQ)
Market Cap
€5.54B
Dividend Yield7.34%
Average Volume (3M)157.04K
Price to Earnings (P/E)37.9
Beta (1Y)0.51
Revenue Growth0.78%
EPS Growth-68.17%
CountryFR
Employees442
SectorGeneral
Sector StrengthN/A
IndustryREIT - Office
Share Statistics
EPS (TTM)1.98
Shares Outstanding76,792,336
10 Day Avg. Volume160,856
30 Day Avg. Volume157,045
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.57
Price to Sales (P/S)6.97
P/FCF Ratio-12.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€92.00Price Target Upside24.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)6.72
Revenue Forecast (FY)€710.83M
Gecina Business Overview & Revenue Model
Company Description
Gecina specializes in creating and managing forward-thinking, environmentally conscious living and working environments. The company boasts a premier European office property portfolio, with approximately 97% of its assets concentrated in the Grea...
How the Company Makes Money
Gecina makes money primarily by owning and operating a portfolio of rental real estate and collecting recurring rental income from tenants. Its main revenue stream is gross rental income from office leases (typically multi-year commercial leases) ...
Gecina Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 762.41M | 858.58M | 854.08M | 835.69M | 772.05M | 762.01M |
| Gross Profit | 660.47M | 662.73M | 628.88M | 621.76M | 569.72M | 616.15M |
| EBITDA | 200.91M | 554.91M | 414.63M | -1.69B | 263.77M | 473.11M |
| Net Income | 146.28M | 448.20M | 309.76M | -1.79B | 169.58M | 849.29M |
Balance Sheet | ||||||
| Total Assets | 17.99B | 18.02B | 17.92B | 17.65B | 20.68B | 20.44B |
| Cash, Cash Equivalents and Short-Term Investments | 254.90M | 77.94M | 179.04M | 143.72M | 50.57M | 15.10M |
| Total Debt | 6.99B | 6.88B | 6.76B | 6.43B | 7.23B | 6.91B |
| Total Liabilities | 7.82B | 7.44B | 7.40B | 7.05B | 7.90B | 7.46B |
| Stockholders Equity | 10.16B | 10.56B | 10.51B | 10.58B | 12.76B | 12.96B |
Cash Flow | ||||||
| Free Cash Flow | -465.18M | -490.78M | 145.18M | 218.03M | 149.61M | 146.73M |
| Operating Cash Flow | 564.30M | 479.02M | 599.85M | 449.17M | 390.86M | 390.15M |
| Investing Cash Flow | -666.15M | -210.09M | -405.94M | 882.93M | -266.16M | 192.59M |
| Financing Cash Flow | -370.91M | -370.03M | -158.58M | -1.24B | -89.23M | -741.76M |
Gecina Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €11.09B | 8.25 | 11.02% | 4.92% | 3.02% | 15.66% | |
61 Neutral | €5.54B | 37.85 | 1.41% | 7.43% | 0.78% | -68.17% | |
61 Neutral | €5.89B | 7.93 | 8.78% | 7.06% | 10.27% | 994.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €2.49B | -27.29 | -9.17% | 8.15% | -20.40% | ― | |
51 Neutral | €1.46B | -7.83 | -5.03% | 9.96% | -9.09% | -0.01% | |
39 Underperform | €392.53M | -2.23 | -11.00% | ― | -15.41% | -15.26% |
* General Sector Average
FR:GFC
Gecina
74.85
-6.17
-7.61%
FR:ALTA
ALTAREA
100.60
-1.28
-1.26%
FR:COV
Covivio SA
52.10
-2.68
-4.89%
FR:ICAD
Icade SA
19.17
-0.64
-3.25%
FR:LI
Klepierre (ex Compagnie Fonciere Klepierre)
39.92
7.02
21.35%
FR:NXI
NEXITY
7.03
-3.88
-35.56%
Gecina Corporate Events
Gecina Publishes 2026 Half-Year Report and Sets Next Financial Update
Jul 24, 2026
Gecina has released its 2026 Half-Year Report, which is now available on its corporate website and can be obtained free of charge on request, reinforcing transparency for investors and other stakeholders. The company also confirmed its next financ...
Gecina Delivers Revenue Growth Above Inflation While Self-Funding Prime Paris Pipeline
Jul 22, 2026
Gecina reported continued revenue and earnings growth above inflation, driven by a 2.0% like-for-like increase in rental income and strong occupancy across its office and multifamily portfolios. The company highlighted robust leasing activity with...
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.