(GFC) Gecina - Overview
Sector: Real Estate | Industry: REIT - Office | Exchange: PA (France) | Market Cap: 5.444m EUR | Total Return: -18.7% in 12m
Avg Turnover: 16.7M
Warnings
High Debt while negative Cash Flow
Altman Z'' 0.70 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Gecina SA is a French Real Estate Investment Trust (SIIC) specializing in the ownership, management, and development of a premium property portfolio concentrated in Paris and the surrounding region. The company’s assets consist of approximately 1.2 million square meters of office space and 5,300 residential units, managed under its customer-centric brand, YouFirst.
Operating as an SIIC, Gecina benefits from a specific tax regime that requires the distribution of a significant portion of taxable income to shareholders in exchange for corporate tax exemptions. The company focuses on prime urban locations, a strategy designed to capture high demand and rental resilience in the competitive Parisian commercial real estate market.
The firm integrates environmental, social, and governance (ESG) standards into its operations, targeting a substantial reduction in carbon emissions by 2030. Investors can use ValueRay to further analyze Gecina’s valuation metrics and historical performance. Listed on Euronext Paris, Gecina is a constituent of major indices including the CAC Next 20 and the SBF 120.
- Concentration of office assets in central Paris drives premium rental growth
- Interest rate fluctuations impact cost of debt and property portfolio valuations
- Demand for high-quality sustainable office spaces supports occupancy and rental yields
- Indexation of commercial leases provides hedge against persistent Eurozone inflation
- Strategic shift toward residential diversification stabilizes long-term cash flow volatility
| Net Income: 757.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -2.71 > 1.0 |
| NWC/Revenue: -146.9% < 20% (prev -60.56%; Δ -86.32% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.08b > Net Income 757.7m |
| Net Debt (6.85b) to EBITDA (1.01b): 6.79 < 3 |
| Current Ratio: 0.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (73.9m) vs 12m ago 0.01% < -2% |
| Gross Margin: 81.69% > 18% (prev 0.72%; Δ 8.10k% > 0.5%) |
| Asset Turnover: 8.73% > 50% (prev 4.71%; Δ 4.02% > 0%) |
| Interest Coverage Ratio: 10.56 > 6 (EBITDA TTM 1.01b / Interest Expense TTM 93.8m) |
| A: -0.13 (Total Current Assets 212.0m - Total Current Liabilities 2.52b) / Total Assets 18.0b |
| B: 0.02 (Retained Earnings 448.2m / Total Assets 18.0b) |
| C: 0.06 (EBIT TTM 989.9m / Avg Total Assets 18.0b) |
| D: 1.03 (Book Value of Equity 7.69b / Total Liabilities 7.44b) |
| Altman-Z'' = 0.70 = B |
| DSRI: 0.47 (Receivables 47.2m/54.3m, Revenue 1.57b/843.4m) |
| GMI: 0.89 (GM 81.69% / 72.34%) |
| AQI: 1.07 (AQ_t 0.98 / AQ_t-1 0.92) |
| SGI: 1.86 (Revenue 1.57b / 843.4m) |
| TATA: -0.02 (NI 757.7m - CFO 1.08b) / TA 18.0b) |
| Beneish M = -2.93 (Cap -4..+1) = A |
As of June 02, 2026, the stock is trading at EUR 72.75 with a total of 242,268 shares traded.
Over the past week, the price has changed by -0.21%,
over one month by +0.48%,
over three months by -1.88% and
over the past year by -18.66%.
Gecina has no consensus analysts rating.
P/E Trailing = 12.1808
P/E Forward = 10.8342
P/S = 6.233
P/B = 0.512
P/EG = 12.2996
Revenue TTM = 1.57b EUR
EBIT TTM = 989.9m EUR
EBITDA TTM = 1.01b EUR
Long Term Debt = 4.74b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.09b EUR (from shortTermDebt, last quarter)
Debt = 6.93b EUR (from shortLongTermDebtTotal, last quarter) + Leases 49.3m
Net Debt = 6.85b EUR (calculated: Debt 6.93b - CCE 77.9m)
Enterprise Value = 12.3b EUR (5.44b + Debt 6.93b - CCE 77.9m)
Interest Coverage Ratio = 10.56 (Ebit TTM 989.9m / Interest Expense TTM 93.8m)
EV/FCF = -35.84x (Enterprise Value 12.3b / FCF TTM -343.1m)
FCF Yield = -2.79% (FCF TTM -343.1m / Enterprise Value 12.3b)
FCF Margin = -21.88% (FCF TTM -343.1m / Revenue TTM 1.57b)
Net Margin = 48.31% (Net Income TTM 757.7m / Revenue TTM 1.57b)
Gross Margin = 81.69% ((Revenue TTM 1.57b - Cost of Revenue TTM 287.1m) / Revenue TTM)
Gross Margin QoQ = none% (prev 68.37%)
Tobins Q-Ratio = 0.68 (Enterprise Value 12.3b / Total Assets 18.0b)
Interest Expense / Debt = 1.35% (Interest Expense 93.8m / Debt 6.93b)
Taxrate = 1.09% (1.75m / 160.6m)
NOPAT = 979.1m (EBIT 989.9m * (1 - 1.09%))
Current Ratio = 0.08 (Total Current Assets 212.0m / Total Current Liabilities 2.52b)
Debt / Equity = 0.66 (Debt 6.93b / totalStockholderEquity, last quarter 10.6b)
Debt / EBITDA = 6.79 (Net Debt 6.85b / EBITDA 1.01b)
Debt / FCF = -19.97 (negative FCF - burning cash) (Net Debt 6.85b / FCF TTM -343.1m)
Total Stockholder Equity = 10.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.22% (Net Income 757.7m / Total Assets 18.0b)
RoE = 7.26% (Net Income TTM 757.7m / Total Stockholder Equity 10.4b)
RoCE = 6.52% (EBIT 989.9m / Capital Employed (Equity 10.4b + L.T.Debt 4.74b))
RoIC = 5.57% (NOPAT 979.1m / Invested Capital 17.6b)
WACC = 3.35% (E(5.44b)/V(12.4b) * Re(5.91%) + D(6.93b)/V(12.4b) * Rd(1.35%) * (1-Tc(0.01)))
Discount Rate = 5.91% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 55.56 | Cagr: 0.04%
[DCF] Fair Price = unknown (Cash Flow -343.1m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -36.16 | Revenue CAGR: -2.81% | SUE: 0.93 | # QB: 1
EPS current Year (2026-12-31): EPS=6.71 | Chg30d=-0.05% | Revisions=-56% | GrowthEPS=+0.5% | GrowthRev=+1.0%
EPS next Year (2027-12-31): EPS=6.73 | Chg30d=-0.20% | Revisions=-14% | GrowthEPS=+0.2% | GrowthRev=+2.3%
[Analyst] Revisions Ratio: -56%