NEXITY (NXI) AI Stock Analysis

• Market Cap: €449.88M
• Dividend Yield: N/A
• Average Volume (3M): 194.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: -16.43%
• EPS Growth: -371.45%
• Country: FR
• Employees: 3,562
• Sector: General
• Sector Strength: N/A
• Industry: Real Estate - Diversified
• EPS (TTM): -2.60
• Shares Outstanding: 56,129,723
• 10 Day Avg. Volume: 195,543
• 30 Day Avg. Volume: 194,919
• PEG Ratio: -0.01
• Price to Book (P/B): 0.31
• Price to Sales (P/S): 0.18
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €10.00
• Price Target Upside: 15.21% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.17
• Revenue Forecast (FY): €2.76B

• Rating: 46 Neutral
• Price Target: €7.50 ▼(-13.59% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held down primarily by deteriorating financial performance (shrinking revenue, worsening losses, and weaker cash generation) and a negative P/E that reflects unprofitable operations. Technicals are comparatively better but only indicate neutral-to-slightly-improving near-term conditions while the stock remains below the 200-day average.

Positive Factors

Diversified business model

Nexity’s integrated model—development plus services across the property value chain—reduces single-cycle exposure. Owning capabilities from project creation to management supports cross-selling, better capture of downstream fees and project control, lending resilience over multiple housing cycles.

Recurring fee-based services

Fee-based property management and transaction services create recurring revenue streams that are less volatile than one-off development sales. Over 2–6 months to years this steadier cash inflow can stabilize margins, improve revenue visibility, and partially offset cyclical swings in development volumes.

Operating cash flow and meaningful equity

Generating positive operating cash flow while reporting a net loss indicates underlying cash resilience and working-capital management. Combined with a meaningful equity base, this supports liquidity and the ability to fund projects or withstand cyclical stress without immediate capital raises, improving medium-term durability.

Negative Factors

Sharp revenue and margin deterioration

A large revenue drop and collapsed gross margin reflect weaker project economics or adverse pricing/cost dynamics. This structural earnings deterioration impairs reinvestment capacity, weakens returns on projects, and may require business model adjustments to restore sustainable profitability over the medium term.

Volatile cash generation

Rising cash-flow volatility and near-zero free cash flow reduce the company’s buffer to fund development pipelines and service operations. Over several quarters this increases reliance on external financing, raises refinancing risk, and constrains strategic flexibility at a time when consistent investment is needed to regain growth.

Elevated leverage for cyclical sector

Debt levels of ~1.2–1.4x equity are high for a cyclical real-estate developer. Elevated leverage reduces capacity to absorb further downturns, limits capital allocation options, and increases the risk of forced asset sales or higher financing costs, pressuring recovery efforts over the medium term.

NEXITY Business Overview & Revenue Model

Company Description

Nexity SA operates as a real estate company in Europe and internationally. The company operates through Development, Services, and Other Activities divisions. It develops new homes and subdivisions; and new or refurbished office buildings, high-rises, business parks, logistics facilities, retail property, hotels, and other industrial spaces. The company also provides property management services comprising rental management, sales and lettings, and condominium managing agent services, as well as manages serviced residences for students and for seniors; distributes real estate products under the iSelection and PERL brands; offers real estate brokerage, and space planning services; and real estate services, including rental management and property management services. In addition, it engages in the villes and projets, and pre-development urban regeneration project activities; and investment activities, as well as startup in the incubation phase. The company serves individual, commercial, institutional, and local authority clients. Nexity SA was founded in 1995 and is headquartered in Paris, France.

How the Company Makes Money

NEXITY generates revenue through multiple streams, primarily from the sale of residential units and commercial properties it develops. The company also earns income from property management services, which include managing residential and commercial real estate for third parties. Additionally, NEXITY benefits from consulting services related to urban planning and real estate investments. Strategic partnerships with local governments, real estate investors, and financial institutions enhance its project financing capabilities, further driving profitability. The company's diversified portfolio and focus on sustainable development align with current market trends, contributing to consistent earnings growth.

NEXITY Financial Statement Overview

Summary

Income statement is weak (sharp revenue decline and deeper losses with margin deterioration), cash flow has become volatile with free cash flow roughly breakeven in 2025, and leverage is elevated for a cyclical real estate business despite meaningful equity.

Income Statement

Profitability has deteriorated sharply, with 2025 revenue down ~28% year over year and losses deepening (negative operating profit and net margin). Gross margin also collapsed in 2025 versus prior years, signaling significant pressure on project economics/pricing and/or one-offs. While the business was profitable in 2020–2022 and modestly profitable in 2023, the last two years show a clear downshift in earnings quality and trajectory.

Balance Sheet

Leverage remains elevated but relatively stable, with debt running at roughly 1.2–1.4x equity across the period. Equity is still meaningful, but returns to shareholders turned negative in 2024–2025, reflecting weakening profitability rather than a major capital structure improvement. Total assets contracted materially in 2025 versus 2024, which may reduce scale but could also reflect balance-sheet de-risking; overall, the balance sheet is workable but not conservative for a cyclical real estate business.

Cash Flow

Cash generation has become less reliable: operating cash flow fell sharply in 2025 and free cash flow dropped to roughly breakeven after being solidly positive in 2022–2024. The ability of cash flow to support reported earnings weakened alongside the move to losses. Positively, the company did produce positive operating cash flow in 2025 despite a net loss, but the overall trend points to rising cash-flow volatility.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.82B	3.33B	3.96B	4.35B	4.47B
Gross Profit	39.40M	775.55M	1.36B	437.62M	504.39M
EBITDA	26.90M	-96.12M	375.92M	494.54M	632.40M
Net Income	-188.50M	-62.23M	19.21M	187.77M	324.91M
Balance Sheet
Total Assets	2.90B	6.50B	8.50B	9.17B	8.29B
Cash, Cash Equivalents and Short-Term Investments	421.46M	667.61M	715.95M	897.98M	1.06B
Total Debt	1.90B	2.22B	2.59B	2.67B	2.42B
Total Liabilities	3.83B	4.63B	6.56B	7.14B	6.35B
Stockholders Equity	1.61B	1.81B	1.88B	1.97B	1.92B
Cash Flow
Free Cash Flow	0.00	184.30M	179.11M	200.10M	42.85M
Operating Cash Flow	42.30M	231.45M	238.85M	269.23M	97.50M
Investing Cash Flow	-60.50M	316.38M	-107.56M	-188.70M	137.70M
Financing Cash Flow	-116.60M	-662.00M	-341.98M	-261.81M	-446.41M

NEXITY Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.68
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:NXI, the sentiment is Negative. The current price of 8.68 is below the 20-day moving average (MA) of 8.72, below the 50-day MA of 8.86, and below the 200-day MA of 9.47, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 35.76 is Neutral, neither overbought nor oversold. The STOCH value of 6.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:NXI.

NEXITY Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KOF	75 Outperform	€584.94M	10.95	22.55%	7.50%	9.14%	2.51%
CBOT	63 Neutral	€141.47M	7.44	6.91%	6.63%	-26.37%	16.47%
INEA	63 Neutral	€374.00M	75.52	―	8.06%	10.30%	―
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NXI	46 Neutral	€449.88M	-2.64	-19.97%	―	-16.43%	-371.45%
EIFF	45 Neutral	€542.13M	-8.37	-10.94%	―	-6.82%	62.40%