CBO Territoria S.A. (CBOT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of CBO Territoria S.A. stock €3.07, price €3.76, that is 18.4% below the price, quality 63 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range €2.53 – €4.05 · fair‑value band €1.50 – €4.68 · the €3.76 price screens above the €3.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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CBo Territoria SA operates as a real estate company in France. It operates through three segments: Land, Promotion, and Other.
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The company invests in commercial assets, such as retail, offices, and industrial premises; and develops housing properties, including social housing, affordable housing, and serviced residences, as well as provides land planning services.
It also manages leisure activities through Le Jardin d'Eden which offers private and corporate events; Bassin Bleu Golf Club, a golf course area which accepts corporate events, such as conference room and catering services; and Beauséjour SportClub for sporting activities.
In addition, the company involved in the coworking centers business. CBo Territoria SA was incorporated in 2004 and is headquartered in Sainte-Marie, France.
Stock analysis
CBO Territoria S.A. (CBOT) currently trades at €3.76, while our model-based Fair Value estimate is €3.07, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €7.24 per share, and 10 of the 16 models we run sit above the €3.76 price.
Bear case: the Dividend Discount group reads lowest at €1.98, and 6 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: €1.50 (bear) to €4.68 (bull), the price of €3.76 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
CBO Territoria S.A. reported revenue of €53.3M in FY2025 versus €85.7M in FY2021, a compound −11.2%/yr. Reported net income was €17.2M in FY2025, compounding +2.3%/yr from FY2021.
Key figures
Market cap €146M Micro · P/E ratio 8.0 · P/S ratio 2.75 · EPS (TTM) €0.4700 · Dividend yield 6.4% · Net margin 32.9% · Return on equity 7.0% · Return on assets (EBIT) 5.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at −18%, CBOT screens cheaper than that median.
Fair Value models
Bear€1.50Fair Value €3.07Bull€4.68
Price €3.76 · Downside -18.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.1972 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF€0.9100€2.05€3.9176
Residual Income€5.46€5.66€6.0376
Growth DCF€1.03€2.10€3.7275
All 16 models by family
DCF Models
FCF DCF€0.9100€2.05€3.9176
5Y Revenue Exit€1.72€4.04€7.4169
5Y EBITDA Exit€2.66€5.66€9.6372
10Y Revenue Exit€1.20€2.72€4.3664
10Y EBITDA Exit€1.82€3.61€5.5167
Dividend Discount
Gordon GGM€1.76€1.89€2.0869
DDM Multi-Stage€1.76€2.07€2.4567
Multiples
P/S Multiple€6.26€8.35€10.4358
P/B Multiple€3.54€4.72€5.9055
EV/EBIT€6.88€10.53€14.1965
EV/EBITDA€4.40€7.24€10.0765
EV/Revenue€1.95€4.55€7.1450
Asset-Based
NCAV (Graham)€3.61€4.84€7.2254
Growth DCF
Growth DCF€1.03€2.10€3.7275
Rev-Margin DCF€1.72€4.15€7.1269
Economic Profit
Residual Income€5.46€5.66€6.0376
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.0%
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+12.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.5%
Dividend (yield on the price)6.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.5% vs 6.5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.22% → 44%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +10.2% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Diversified · 114 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−18.4% · Below median
Profitability
Return on equity (12 months)7.0% · Above median
Return on assets3.6% · Above median
Net margin (12 months)32.9% · Above median
Operating margin (12 months)46.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)−1.0% · Below median
Dividend yield (12 months)6.4% · Top 25%
Balance sheet
Debt / equity0.50× · Below median
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
P/E (12 months)8.0× · Cheaper than median
P/B0.58× · Cheaper than median
P/S (12 months)2.75× · Pricier than median
Price / free cash flow (fiscal year)9.5× · Cheaper than median
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Is CBO Territoria S.A. (CBOT) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €3.07 versus a price of €3.76, about 18% lower (overvalued).
What is the fair value of CBOT?
Our model-based fair value for CBO Territoria S.A. is €3.07 (as of Nov 4, 2026), built from audited fundamentals. The current price: €3.76.
What is the quality score of CBOT?
CBO Territoria S.A. has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CBO Territoria S.A. (CBOT)?
Our model-based price target is the fair value of €3.07 (as of Nov 4, 2026) from 16 valuation models. Cautious scenario €1.50, optimistic scenario €4.68. It is a calculation from audited fundamentals, not an analyst target.
What is the CBO Territoria S.A. stock forecast for 2026?
Our models put fair value at €3.07, about 18% lower versus a price of €3.76 (overvalued). Cautious scenario €1.50, optimistic scenario €4.68. The calculation is refreshed regularly with new filings.
What is the revenue of CBO Territoria S.A. (CBOT)?
CBO Territoria S.A. reported trailing-twelve-month revenue of about €53.2M (latest available figure, as of Nov 4, 2026).
Does CBO Territoria S.A. pay a dividend?
CBO Territoria S.A. currently shows a dividend yield of 6.38% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of CBO Territoria S.A. (CBOT) and when is the ex-dividend date?
CBO Territoria S.A. pays a dividend of €0.24 per share a year, a dividend yield of 6.4%. The last ex-dividend date was Jun 10, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 51.1% of earnings. Free cash flow covers the dividend 1.84 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into CBO Territoria S.A. (CBOT)?
For today's price to be fair in a discounted-cash-flow model, CBO Territoria S.A. would have to grow free cash flow by +12.6 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -12.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of CBOT use?
Our models discount CBO Territoria S.A. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.26, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CBO Territoria S.A. that is +12.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has CBO Territoria S.A. (CBOT) delivered so far?
Over the past 5 years revenue at CBO Territoria S.A. grew -12.5 % a year. The price currently implies free-cash-flow growth of +12.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CBO Territoria S.A. (CBOT) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into CBO Territoria S.A. (+12.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CBO Territoria S.A. (CBOT)?
The free-cash-flow yield on the price is 10.57 %: that much free cash flow CBO Territoria S.A. produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CBO Territoria S.A. (CBOT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CBO Territoria S.A. it is €3.07 per share (as of Nov 4, 2026), against a price of €3.76. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is CBO Territoria S.A. stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CBOT trades above its calculated fair value: price €3.76, fair value €3.07, a gap of about −18% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CBOT?
No. The price is what the market pays today (€3.76); the fair value is what the company's own numbers justify (€3.07). For CBO Territoria S.A. the two are €0.6915 per share apart. That gap is exactly why we show both numbers side by side.
How much is CBO Territoria S.A. worth?
The market values CBO Territoria S.A. at about €146M (market capitalisation, as of Nov 4, 2026). Per share that is €3.76; our models calculate a fair value of €3.07 per share.
What do the bullish and bearish scenarios say about CBOT?
Our models span a range for CBO Territoria S.A.: cautious scenario €1.50, base €3.07, optimistic €4.68 per share (as of Nov 4, 2026, price €3.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CBOT?
CBO Territoria S.A. trades at a price-to-earnings ratio of 8.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3.07 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 10.0. Other multiples: P/B 0.6, P/S 2.7, EV/EBITDA 10.4.
How solid is the balance sheet of CBO Territoria S.A. (CBOT)?
Balance-sheet figures for CBO Territoria S.A. (as of Nov 4, 2026): return on equity 7.0%, debt of 0.50 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is CBOT from its 52-week high?
CBO Territoria S.A. trades at €3.76, about 7% below its 52-week high of €4.05 and 11% above the low of €3.38 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €3.07 is for.
Which stocks are comparable to CBO Territoria S.A.?
From the same area (Real Estate) we also value Swiss Prime Site AG, The Phoenix Mills Limited, Prestige Estates Projects Limited, Umm Al Qura for Development and Construction Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CBO Territoria S.A. stock attractive at the current price?
The data as of Nov 4, 2026: price €3.76, calculated fair value €3.07 (−18%), Quality Score 63/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CBOT calculated?
We run CBO Territoria S.A. through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of €3.07 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. CBO Territoria S.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CBO Territoria S.A. (CBOT)?
The closing price on Nov 6, 2026 was €3.76. Our model-based fair value is €3.07, about 18% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CBO Territoria S.A. right now?
The model range is unusually wide (€1.50 to €4.68). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of CBO Territoria S.A. (CBOT) come from?
Earnings per share at CBO Territoria S.A. grew +5.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.9 %, EBIT margin +4.3 %, tax rate −2.6 %, residual (interest, one-offs) +2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of CBO Territoria S.A.
How large is the market capitalisation of CBO Territoria S.A. (CBOT)?
The market capitalisation of CBO Territoria S.A. is €146M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CBO Territoria S.A. (CBOT)?
The price-to-sales ratio of CBO Territoria S.A. is 2.75 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CBO Territoria S.A. (CBOT)?
Earnings per share at CBO Territoria S.A. are €0.4700 (price ÷ EPS = P/E 8.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CBO Territoria S.A. (CBOT)?
The dividend yield of CBO Territoria S.A. is 6.4% (payout 51.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CBO Territoria S.A. (CBOT)?
The net margin of CBO Territoria S.A. is 32.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CBO Territoria S.A. (CBOT)?
The return on equity (ROE) of CBO Territoria S.A. is 7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CBO Territoria S.A. (CBOT)?
On an EBIT basis the return on assets of CBO Territoria S.A. is 5.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CBO Territoria S.A. (CBOT)?
The operating margin of CBO Territoria S.A. is 46.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CBO Territoria S.A. (CBOT)?
Revenue at CBO Territoria S.A. is growing −1.0% versus a year earlier (3y avg −6.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CBO Territoria S.A. (CBOT)?
Earnings per share at CBO Territoria S.A. are growing +4.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CBO Territoria S.A. (CBOT) carry?
The net debt of CBO Territoria S.A. is €144M (fiscal year 2025, ≈ 9.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026