AED Stock Analysis: Aedifica | BR
REIT - Healthcare Facilities | BR, Belgium | Market Cap: 5.087m EUR | 12M Return: 8% | BE0003851681 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.40M
EPS Trend: 3.8%
Rev. Trend: 88.6%
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Aedifica has been listed on Euronext Brussels since 2006 and added a secondary listing on Euronext Amsterdam in 2019, trading under the codes AED, AED:BB (Bloomberg), and AOO.BR (Reuters). The company joined the BEL 20 index in 2020 and was added to the BEL ESG index in 2023, and is also a constituent of the EPRA, Stoxx Europe 600, and GPR indices. Its market capitalization was approximately 6.5 billion euros as of July 1, 2026, and the company was established and incorporated in Belgium in 2005.
As a healthcare REIT, Aedifica operates within a sector supported by structural demographic tailwinds, most notably the aging populations across Western Europe. Healthcare real estate investing typically relies on long-duration leases with care operators, a structure that generally produces stable, predictable rental cash flows and often includes inflation-linked rent escalators.
- ECB rate cuts ease debt burden, lift portfolio valuations
- Acquisitions expand healthcare footprint across European markets
- Aging demographics boost demand for senior care properties
| Net Income: 640.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.85 > 1.0 |
| NWC/Revenue: -304.2% < 20% (prev -105.6%; Δ -198.6% < -1%) |
| CFO/TA 0.02 > 3% & CFO 262.5m > Net Income 640.9m |
| Net Debt (5.29b) to EBITDA (414.3m): 12.77 < 3 |
| Current Ratio: 0.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (83.5m) vs 12m ago 75.54% < -2% |
| Gross Margin: 91.73% > 18% (prev 94.21%; Δ -2.48% > 0.5%) |
| Asset Turnover: 5.01% > 50% (prev 5.64%; Δ -0.63% > 0%) |
| Interest Coverage Ratio: 7.37 > 6 (EBIT TTM 411.8m / Interest Expense TTM 55.9m) |
| A: -0.11 (Total Current Assets 308.3m - Total Current Liabilities 1.80b) / Total Assets 13.1b |
| B: 0.04 (Retained Earnings 536.2m / Total Assets 13.1b) |
| C: 0.04 (EBIT TTM 411.8m / Avg Total Assets 9.76b) |
| D: 1.09 (Book Value of Equity 6.42b / Total Liabilities 5.87b) |
| Altman-Z'' = 0.82 = B |
| DSRI: 2.19 (Receivables 113.2m/38.4m, Revenue 488.7m/363.1m) |
| GMI: 1.03 (GM 94.21% / 91.73%) |
| AQI: 1.01 (AQ_t 0.98 / AQ_t-1 0.97) |
| SGI: 1.35 (Revenue 488.7m / 363.1m) |
| TATA: 0.03 (NI 640.9m - CFO 262.5m) / TA 13.1b) |
| Beneish M = -1.76 (Cap -4..+1) = CCC |
As of October 17, 2026, the stock is trading at EUR 62.95 with a total of 118,322 shares traded. Over the past week, the price has changed by +3.28%, over one month by -4.69%, over three months by -9.88% and over the past year by +7.96%.
Current recommended Stop Loss: 61.50 (which is 2.3% or 1.4 ATR below the current price).
Aedifica has no consensus analysts rating.
P/E Trailing = 6.0707
P/E Forward = 11.8906
P/S = 10.481
P/B = 0.8514
Revenue TTM = 488.7m EUR
EBIT TTM = 411.8m EUR
EBITDA TTM = 414.3m EUR
Long Term Debt = 3.46b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.80b EUR (from shortTermDebt, last quarter)
Debt = 5.34b EUR (from shortLongTermDebtTotal, last quarter) + Leases 85.3m
Net Debt = 5.29b EUR (calculated: Debt 5.34b - CCE 55.6m)
Enterprise Value = 10.4b EUR (5.09b + Debt 5.34b - CCE 55.6m)
Interest Coverage Ratio = 7.37 (Ebit TTM 411.8m / Interest Expense TTM 55.9m)
EV/FCF = 39.58x (Enterprise Value 10.4b / FCF TTM 262.2m)
FCF Yield = 2.53% (FCF TTM 262.2m / Enterprise Value 10.4b)
FCF Margin = 53.65% (FCF TTM 262.2m / Revenue TTM 488.7m)
Net Margin = 131.1% (Net Income TTM 640.9m / Revenue TTM 488.7m)
Gross Margin = 91.73% ((Revenue TTM 488.7m - Cost of Revenue TTM 40.4m) / Revenue TTM)
Gross Margin QoQ = 90.04% (prev 90.84%)
Tobins Q-Ratio = 0.79 (Enterprise Value 10.4b / Total Assets 13.1b)
Interest Expense / Debt = 1.05% (Interest Expense 55.9m / Debt 5.34b)
Taxrate = 6.05% (42.1m / 696.7m)
NOPAT = 386.9m (EBIT 411.8m * (1 - 6.05%))
Current Ratio = 0.17 (Total Current Assets 308.3m / Total Current Liabilities 1.80b)
Debt / Equity = 0.83 (Debt 5.34b / totalStockholderEquity, last quarter 6.42b)
Debt / EBITDA = 12.77 (Net Debt 5.29b / EBITDA 414.3m)
Debt / FCF = 20.17 (Net Debt 5.29b / FCF TTM 262.2m)
Total Stockholder Equity = 5.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.57% (Net Income 640.9m / Total Assets 13.1b)
RoE = 12.60% (Net Income TTM 640.9m / Total Stockholder Equity 5.09b)
RoCE = 4.82% (EBIT 411.8m / Capital Employed (Equity 5.09b + L.T.Debt 3.46b))
RoIC = 2.96% (NOPAT 386.9m / Invested Capital 13.1b)
WACC = 2.86% (E(5.09b)/V(10.4b) * Re(4.83%) + D(5.34b)/V(10.4b) * Rd(1.05%) * (1-Tc(0.06)))
Discount Rate = 4.83% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 62.01 | Cagr: 28.41%
[DCF] Terminal Value 76.17% ; FCFF base≈256.5m ; Y1≈269.8m ; Y5≈313.8m
[DCF] Fair Price = N/A (negative equity: EV 4.83b - Net Debt 5.29b = -454.3m; debt exceeds intrinsic value)
EPS Correlation: 3.83 | EPS CAGR: 2.04% | SUE: N/A | # QB: 0
Revenue Correlation: 88.63 | Revenue CAGR: 12.40% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=5.36 | Chg30d=-0.19% | Revisions=-40% | GrowthEPS=+4.1% | GrowthRev=+88.2%
EPS next Year (2027-12-31): EPS=5.50 | Chg30d=-0.46% | Revisions=+0% | GrowthEPS=+2.6% | GrowthRev=+11.4%
[Analyst] Revisions Ratio: -29% (up=1, down=3)