COV Stock Analysis: Covivio | PA
REIT - Diversified | PA, France | Market Cap: 4.890m EUR | 12M Return: -19.2% | FR0000064578 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.13M
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.
Covivio SA (PA: COV) is a French property company founded in 1963 that operates as a leading European real estate investor, managing €24.2 billion in assets under management. The company is structured as a diversified REIT, generating rental income across multiple property types rather than concentrating on a single asset class.
The business spans three main segments: offices, hotels, and residential, serving businesses, hotel operators, and local authorities. This multi-segment model is characteristic of diversified REITs and is intended to spread exposure across different real estate cycles, which is particularly relevant in the current European market where office demand has been pressured by hybrid work trends while hospitality and residential segments show different dynamics.
Covivios stated mission centers on long-term value creation for a broad stakeholder base, including clients, shareholders, employees, local communities, and future generations. The company differentiates itself through close relationships with end users and the design of integrated spaces that combine working, travelling, and living functions.
- Office occupancy recovery drives Covivios prime Paris rental income
- ECB rate cuts pressure European REIT financing costs
- Italian portfolio divestments accelerate capital recycling
- Hotel segment recovery boosts Covivios hospitality rental revenue
| Net Income: 655.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.37 > 1.0 |
| NWC/Revenue: -100.5% < 20% (prev -66.17%; Δ -34.37% < -1%) |
| CFO/TA 0.03 > 3% & CFO 833.4m > Net Income 655.1m |
| Net Debt (10.0b) to EBITDA (1.52b): 6.59 < 3 |
| Current Ratio: 0.56 > 1.5 & < 3 |
| Outstanding Shares: last quarter (110.8m) vs 12m ago 7.59% < -2% |
| Gross Margin: 53.57% > 18% (prev 61.87%; Δ -8.29% > 0.5%) |
| Asset Turnover: 3.51% > 50% (prev 5.07%; Δ -1.55% > 0%) |
| Interest Coverage Ratio: 4.05 > 6 (EBIT TTM 1.37b / Interest Expense TTM 338.1m) |
| A: -0.04 (Total Current Assets 1.15b - Total Current Liabilities 2.05b) / Total Assets 25.3b |
| B: 0.01 (Retained Earnings 257.8m / Total Assets 25.3b) |
| C: 0.05 (EBIT TTM 1.37b / Avg Total Assets 25.5b) |
| D: 0.67 (Book Value of Equity 8.46b / Total Liabilities 12.6b) |
| Altman-Z'' = 0.86 = B |
| DSRI: 0.89 (Receivables 392.3m/642.1m, Revenue 894.5m/1.30b) |
| GMI: 1.15 (GM 61.87% / 53.57%) |
| AQI: 0.10 (AQ_t 0.08 / AQ_t-1 0.82) |
| SGI: 0.69 (Revenue 894.5m / 1.30b) |
| TATA: -0.01 (NI 655.1m - CFO 833.4m) / TA 25.3b) |
| Beneish M = -3.74 (Cap -4..+1) = AAA |
As of October 08, 2026, the stock is trading at EUR 43.22 with a total of 201,771 shares traded. Over the past week, the price has changed by -4.30%, over one month by -11.40%, over three months by -20.19% and over the past year by -19.17%.
Current recommended Stop Loss: 42.00 (which is 2.8% or 1.4 ATR below the current price).
Covivio has no consensus analysts rating.
P/E Trailing = 7.5136
P/E Forward = 8.9686
P/S = 4.1734
P/B = 0.6166
P/EG = 24.6239
Revenue TTM = 894.5m EUR
EBIT TTM = 1.37b EUR
EBITDA TTM = 1.52b EUR
Long Term Debt = 8.02b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.05b EUR (from shortTermDebt, last quarter)
Debt = 10.7b EUR (from shortLongTermDebtTotal, last quarter) + Leases 306.1m
Net Debt = 10.0b EUR (calculated: Debt 10.7b - CCE 665.0m)
Enterprise Value = 14.9b EUR (4.89b + Debt 10.7b - CCE 665.0m)
Interest Coverage Ratio = 4.05 (Ebit TTM 1.37b / Interest Expense TTM 338.1m)
EV/FCF = 90.51x (Enterprise Value 14.9b / FCF TTM 164.6m)
FCF Yield = 1.10% (FCF TTM 164.6m / Enterprise Value 14.9b)
FCF Margin = 18.40% (FCF TTM 164.6m / Revenue TTM 894.5m)
Net Margin = 73.24% (Net Income TTM 655.1m / Revenue TTM 894.5m)
Gross Margin = 53.57% ((Revenue TTM 894.5m - Cost of Revenue TTM 415.3m) / Revenue TTM)
Gross Margin QoQ = 87.95% (prev -2.96%)
Tobins Q-Ratio = 0.59 (Enterprise Value 14.9b / Total Assets 25.3b)
Interest Expense / Debt = 3.17% (Interest Expense 338.1m / Debt 10.7b)
Taxrate = 13.31% (60.5m / 454.7m)
NOPAT = 1.19b (EBIT 1.37b * (1 - 13.31%))
Current Ratio = 0.56 (Total Current Assets 1.15b / Total Current Liabilities 2.05b)
Debt / Equity = 1.26 (Debt 10.7b / totalStockholderEquity, last quarter 8.46b)
Debt / EBITDA = 6.59 (Net Debt 10.0b / EBITDA 1.52b)
Debt / FCF = 60.80 (Net Debt 10.0b / FCF TTM 164.6m)
Total Stockholder Equity = 8.38b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.57% (Net Income 655.1m / Total Assets 25.3b)
RoE = 7.82% (Net Income TTM 655.1m / Total Stockholder Equity 8.38b)
RoCE = 8.35% (EBIT 1.37b / Capital Employed (Equity 8.38b + L.T.Debt 8.02b))
RoIC = 4.71% (NOPAT 1.19b / Invested Capital 25.2b)
WACC = 3.78% (E(4.89b)/V(15.6b) * Re(6.04%) + D(10.7b)/V(15.6b) * Rd(3.17%) * (1-Tc(0.13)))
Discount Rate = 6.04% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.86 | Cagr: 7.22%
[DCF] Terminal Value 73.10% ; FCFF base≈203.5m ; Y1≈178.4m ; Y5≈144.2m
[DCF] Fair Price = N/A (negative equity: EV 2.31b - Net Debt 10.0b = -7.69b; debt exceeds intrinsic value)
EPS Correlation: 39.99 | EPS CAGR: 38.06% | SUE: N/A | # QB: 0
Revenue Correlation: -77.68 | Revenue CAGR: -11.00% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.95 | Chg30d=-0.05% | Revisions=+0% | GrowthEPS=+8.2% | GrowthRev=+10.8%
EPS next Year (2027-12-31): EPS=5.07 | Chg30d=-0.09% | Revisions=+0% | GrowthEPS=+2.6% | GrowthRev=+3.1%
[Analyst] Revisions Ratio: +0% (up=2, down=2)