NEXITY (NXI) AI Stock Analysis

• Market Cap: €437.63M
• Dividend Yield: N/A
• Average Volume (3M): 194.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.45
• 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 combines development revenue with recurring fee-based services across the property value chain. That mix provides structural revenue diversification: development captures upside in housing cycles while property-management and transaction fees supply steadier recurring cash flow and client relationships.

Meaningful equity buffer

Despite weakness, the company retains meaningful equity and a workable balance sheet. A material equity base provides capital buffer to absorb cyclical losses, supports access to financing, and preserves optionality to complete projects or restructure without imminent solvency pressure.

Operating cash-flow resilience

Generating positive operating cash flow while reporting a loss indicates the core operations can still convert activity into cash. This supports short-term liquidity for construction and working capital, helping sustain project execution and service obligations through cycles.

Negative Factors

Revenue and margin deterioration

A sharp decline in revenue and collapsing gross margins reflect sustained pressure on project economics, pricing or mix. Reduced top-line scale and weaker margins materially limit internal reinvestment, impair long-term profitability, and raise risks to future earnings recovery.

Free-cash-flow weakness

FCF moving to roughly breakeven and rising volatility constrain the company’s ability to self-fund land acquisition, development starts and deleveraging. Over the medium term this reduces strategic flexibility and raises dependence on external financing or asset disposals.

Elevated leverage for cyclical sector

Debt levels at ~1.2–1.4x equity are high for a cyclical real-estate developer. Elevated leverage amplifies earnings volatility, increases refinancing and interest-rate sensitivity, and limits capacity to absorb further market-driven revenue or margin shocks without balance-sheet actions.

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 mainly through (1) real estate development and sales, and (2) recurring/fee-based real estate services. In property development, it earns money by developing residential (and, depending on projects, other types of) real estate and selling completed units or units sold off-plan; revenue is typically recognized as projects progress and/or when legal/contractual milestones are met, with profitability driven by selling prices, construction and land costs, project mix, and volume. In services, Nexity earns fees from activities such as property management/administration (e.g., managing buildings or homeowner associations), transaction-related services (e.g., brokerage/agency activities where applicable), and other real estate-related service offerings; these tend to provide more recurring revenue compared with development. Across both segments, cash flow and earnings are influenced by the health of the French housing market, interest rates and buyer affordability, construction costs, the pace of new project launches, and the company’s ability to secure land and permits. Specific material partnerships or customer concentration details are null.

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 above the 20-day moving average (MA) of 8.59, below the 50-day MA of 8.80, and below the 200-day MA of 9.44, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 35.78 is Neutral, neither overbought nor oversold. The STOCH value of 14.78 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	€562.92M	10.95	22.55%	7.50%	9.14%	2.51%
CBOT	63 Neutral	€139.04M	7.44	6.91%	6.63%	-26.37%	16.47%
INEA	63 Neutral	€377.26M	75.52	―	8.06%	10.30%	―
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NXI	46 Neutral	€437.63M	-2.64	-19.97%	―	-16.43%	-371.45%
EIFF	45 Neutral	€546.12M	-8.37	-10.94%	―	-6.82%	62.40%