GFC Stock Analysis: Gecina | PA
REIT - Office | PA, France | Market Cap: 4.660m EUR | 12M Return: -19.1% | FR0010040865 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.0M
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.
Gecina SA (GFC) is a French real estate company that owns, manages, and develops a prime property portfolio concentrated in central Paris and the Paris Region. Its holdings include approximately 1.2 million square meters of office space and nearly 5,000 residential units, with a portfolio valuation of 17.4 billion euros as of June 30, 2026. The company positions itself as a fully integrated operator, combining property and asset management with high-value services to deliver sustainable office and residential environments.
Classified within the Office REITs sub-industry, Gecinas business model reflects the typical structure of a European REIT, where rental income from long-term leases on centrally located commercial assets forms the core revenue base. The companys dual focus on offices and residential distinguishes it from pure-play office landlords, providing some diversification within the Paris market.
Gecina also operates the Fondation Gecina, which directs its corporate social responsibility efforts across four pillars: disability inclusion, environmental protection, cultural heritage, and housing access. The company was incorporated on February 10, 1959, in France, and is listed on the Paris exchange with a mid-cap market capitalization of approximately $5.08 billion USD.
- Paris office occupancy pressured by hybrid work trends
- ECB rate cuts ease Gecinas refinancing costs
- French energy decree drives costly office retrofits
| Net Income: 146.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -1.47 > 1.0 |
| NWC/Revenue: -176.5% < 20% (prev -116.2%; Δ -60.27% < -1%) |
| CFO/TA 0.03 > 3% & CFO 564.3m > Net Income 146.3m |
| Net Debt (6.79b) to EBITDA (202.8m): 33.45 < 3 |
| Current Ratio: 0.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (74.1m) vs 12m ago -0.09% < -2% |
| Gross Margin: 86.63% > 18% (prev 75.09%; Δ 11.54% > 0.5%) |
| Asset Turnover: 4.23% > 50% (prev 4.89%; Δ -0.66% > 0%) |
| Interest Coverage Ratio: 2.17 > 6 (EBIT TTM 193.1m / Interest Expense TTM 89.1m) |
| A: -0.07 (Total Current Assets 456.6m - Total Current Liabilities 1.80b) / Total Assets 18.0b |
| B: 0.00 (Retained Earnings 3.08m / Total Assets 18.0b) |
| C: 0.01 (EBIT TTM 193.1m / Avg Total Assets 18.0b) |
| D: 1.30 (Book Value of Equity 10.2b / Total Liabilities 7.82b) |
| Altman-Z'' = 0.95 = BB |
| DSRI: 0.63 (Receivables 105.5m/193.2m, Revenue 762.4m/882.7m) |
| GMI: 0.87 (GM 75.09% / 86.63%) |
| AQI: 0.99 (AQ_t 0.87 / AQ_t-1 0.88) |
| SGI: 0.86 (Revenue 762.4m / 882.7m) |
| TATA: -0.02 (NI 146.3m - CFO 564.3m) / TA 18.0b) |
| Beneish M = -3.55 (Cap -4..+1) = AAA |
As of October 21, 2026, the stock is trading at EUR 61.90 with a total of 194,748 shares traded. Over the past week, the price has changed by -1.90%, over one month by -5.13%, over three months by -18.01% and over the past year by -19.07%.
Current recommended Stop Loss: 60.20 (which is 2.7% or 1.4 ATR below the current price).
Gecina has no consensus analysts rating.
P/E Trailing = 28.922
P/E Forward = 9.8232
P/S = 5.2732
P/B = 0.4794
P/EG = 12.2996
Revenue TTM = 762.4m EUR
EBIT TTM = 193.1m EUR
EBITDA TTM = 202.8m EUR
Long Term Debt = 5.14b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.80b EUR (from shortTermDebt, last quarter)
Debt = 7.04b EUR (from shortLongTermDebtTotal, last quarter) + Leases 49.1m
Net Debt = 6.79b EUR (calculated: Debt 7.04b - CCE 254.9m)
Enterprise Value = 11.4b EUR (4.66b + Debt 7.04b - CCE 254.9m)
Interest Coverage Ratio = 2.17 (Ebit TTM 193.1m / Interest Expense TTM 89.1m)
EV/FCF = -24.61x (Enterprise Value 11.4b / FCF TTM -465.2m)
FCF Yield = -4.06% (FCF TTM -465.2m / Enterprise Value 11.4b)
FCF Margin = -61.01% (FCF TTM -465.2m / Revenue TTM 762.4m)
Net Margin = 19.19% (Net Income TTM 146.3m / Revenue TTM 762.4m)
Gross Margin = 86.63% ((Revenue TTM 762.4m - Cost of Revenue TTM 101.9m) / Revenue TTM)
Gross Margin QoQ = 90.43% (prev 83.22%)
Tobins Q-Ratio = 0.64 (Enterprise Value 11.4b / Total Assets 18.0b)
Interest Expense / Debt = 1.26% (Interest Expense 89.1m / Debt 7.04b)
Taxrate = 0.97% (1.45m / 149.6m)
NOPAT = 191.3m (EBIT 193.1m * (1 - 0.97%))
Current Ratio = 0.25 (Total Current Assets 456.6m / Total Current Liabilities 1.80b)
Debt / Equity = 0.69 (Debt 7.04b / totalStockholderEquity, last quarter 10.2b)
Debt / EBITDA = 33.45 (Net Debt 6.79b / EBITDA 202.8m)
Debt / FCF = -14.59 (negative FCF - burning cash) (Net Debt 6.79b / FCF TTM -465.2m)
Total Stockholder Equity = 10.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.81% (Net Income 146.3m / Total Assets 18.0b)
RoE = 1.41% (Net Income TTM 146.3m / Total Stockholder Equity 10.4b)
RoCE = 1.24% (EBIT 193.1m / Capital Employed (Equity 10.4b + L.T.Debt 5.14b))
RoIC = 1.07% (NOPAT 191.3m / Invested Capital 18.0b)
WACC = 2.88% (E(4.66b)/V(11.7b) * Re(5.34%) + D(7.04b)/V(11.7b) * Rd(1.26%) * (1-Tc(0.01)))
Discount Rate = 5.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 63.20 | Cagr: 0.11%
[DCF] Fair Price = unknown (Cash Flow -465.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -34.79 | Revenue CAGR: -1.92% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=6.72 | Chg30d=+0.00% | Revisions=+40% | GrowthEPS=+0.6% | GrowthRev=+0.2%
EPS next Year (2027-12-31): EPS=6.67 | Chg30d=-0.07% | Revisions=-17% | GrowthEPS=-0.7% | GrowthRev=+1.6%
[Analyst] Revisions Ratio: +12% (up=3, down=2)