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Patrimoine et Commerce (FR:PAT)
:PAT
France Market
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Patrimoine et Commerce (PAT) AI Stock Analysis

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FR:PAT

Patrimoine et Commerce

(PAT)

Rating:72Outperform
Price Target:
€27.00
▲(10.66% Upside)
Patrimoine et Commerce's overall stock score is driven by its strong financial performance and attractive valuation, offset by neutral technical analysis. The company's robust revenue growth and profitability, along with a low P/E ratio and high dividend yield, suggest significant strengths. However, the neutral technical indicators indicate the stock is currently not in a clear trend, which tempers the overall score.

Patrimoine et Commerce (PAT) vs. iShares MSCI France ETF (EWQ)

Patrimoine et Commerce Business Overview & Revenue Model

Company DescriptionPatrimoine et Commerce SA, a real estate company, engages in the acquisition, development, and operation of commercial real estate properties in France. The company operates a portfolio of 31 real estate assets covering a total area of 129,280 square meters located in high-attraction areas in the suburbs or centers of medium-sized cities. Its property portfolio includes shopping malls, supermarkets, shops, and business parks. The company is based in Boulogne-Billancourt, France.
How the Company Makes MoneyPatrimoine et Commerce generates revenue primarily through rental income from its portfolio of commercial properties. The company leases retail spaces to various tenants, including international brands and local retailers, ensuring a steady stream of income. Additionally, PAT engages in property management and value enhancement initiatives, which can lead to increased rental rates and occupancy levels. The company may also derive revenue from property sales, particularly when market conditions are favorable for divestment. Strategic partnerships with local and international retailers, as well as collaborations with real estate management firms, further bolster its revenue potential by maximizing tenant retention and attracting new clients.

Patrimoine et Commerce Financial Statement Overview

Summary
Patrimoine et Commerce exhibits a strong financial profile. The income statement shows robust revenue growth and profitability, with a remarkable net profit margin of 57.95%. The balance sheet is stable, with a manageable debt-to-equity ratio of 0.89. Cash flow is positive, but a decline in free cash flow growth requires attention to maintain financial health.
Income Statement
82
Very Positive
Patrimoine et Commerce has demonstrated a strong income statement profile with consistent revenue growth and solid profitability. The company achieved a revenue growth rate of 14.77% in the latest period, supported by a robust gross profit margin of 74.09% and a net profit margin of 57.95%. EBIT and EBITDA margins are also healthy, reflecting efficient operations. However, attention should be given to maintaining these growth rates in a competitive market.
Balance Sheet
75
Positive
The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.89, indicating manageable leverage levels. The equity ratio stands at 49.88%, showcasing a solid equity foundation. While return on equity is impressive at 8.56%, indicating effective use of shareholder capital, the company should monitor its total debt levels to mitigate potential risks.
Cash Flow
78
Positive
Cash flow analysis reveals a positive trajectory with a free cash flow growth rate of -21.63%, which requires attention despite strong operating cash flow to net income ratio of 0.78. The free cash flow to net income ratio is 0.42, suggesting sufficient cash generation to support operations and potential investments. Maintaining cash flow stability is crucial for future growth.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue73.88M70.67M61.57M57.65M54.82M54.36M
Gross Profit27.75M52.38M46.66M44.60M41.71M42.41M
EBITDA45.09M43.86M40.29M38.10M36.18M37.06M
Net Income38.19M40.97M29.03M47.81M31.52M17.79M
Balance Sheet
Total Assets969.56M959.11M906.55M920.64M882.13M902.94M
Cash, Cash Equivalents and Short-Term Investments25.86M18.88M27.94M55.21M50.79M66.36M
Total Debt420.51M426.26M415.64M430.73M420.12M453.55M
Total Liabilities490.80M469.58M455.83M476.60M467.39M503.69M
Stockholders Equity468.24M478.49M439.25M431.23M400.17M381.55M
Cash Flow
Free Cash Flow17.69M17.14M21.87M-29.15M20.07M26.16M
Operating Cash Flow30.58M44.00M41.08M32.30M36.08M33.25M
Investing Cash Flow-23.68M-28.60M-17.66M-22.23M3.17M-20.00K
Financing Cash Flow-6.68M-24.53M-50.68M-5.60M-54.62M-5.22M

Patrimoine et Commerce Technical Analysis

Technical Analysis Sentiment
Positive
Last Price24.40
Price Trends
50DMA
23.31
Positive
100DMA
22.93
Positive
200DMA
21.23
Positive
Market Momentum
MACD
0.40
Positive
RSI
60.36
Neutral
STOCH
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:PAT, the sentiment is Positive. The current price of 24.4 is above the 20-day moving average (MA) of 24.12, above the 50-day MA of 23.31, and above the 200-day MA of 21.23, indicating a bullish trend. The MACD of 0.40 indicates Positive momentum. The RSI at 60.36 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:PAT.

Patrimoine et Commerce Peers Comparison

Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
€385.77M10.03
5.53%15.61%17.82%
53
Neutral
$1.21B2.92-5.63%5.82%-3.27%-79.34%
€953.51M145.470.61%
€415.21M14.96
2.09%
75
Outperform
€372.71M10.15
3.82%-2.53%
70
Outperform
€341.74M10.06
5.00%-6.93%58.68%
63
Neutral
€355.58M70.83
8.23%10.30%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FR:PAT
Patrimoine et Commerce
24.40
5.05
26.10%
DE:943
Frey SA
28.60
2.80
10.85%
FR:ORIA
Fiducial Real Estate
172.00
-1.38
-0.80%
FR:INEA
Fonciere INEA
32.80
4.34
15.25%
FR:IMDA
Immobiliere Dassault SA
54.40
1.93
3.68%
FR:SELER
Selectirente SA
82.00
0.60
0.74%

Patrimoine et Commerce Corporate Events

Patrimoine & Commerce Releases 2024 Financial Report
Mar 21, 2025

Patrimoine & Commerce has announced the availability of its Universal Registration Document for the 2024 fiscal year, which includes the annual financial report, corporate governance report, auditors’ reports, and information on the share buyback program. This document provides stakeholders with comprehensive insights into the company’s financial health and strategic initiatives, supporting its growth in development and operating assets.

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.Date of analysis: Jul 25, 2025