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Altarea SCA (0IRK) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Altarea SCA €9.03, price €76.20, upside -88.2%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Some data
Sep 24, 2026
Altarea SCA
0IRK · LSEWeakest SetupStrongly overvalued and low quality.
!Fair value €9.03 · Strongly overvalued (−88.2%)
!Quality 35/100
!Mixed Growth (revenue 5y −2.4 %/yr)
!Thin margins · 0.4% net margin (TTM)
!negative free cash flow
!10.5% dividend yield · Watch coverage
!Narrow moat 23/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range €6.78 to €32.81
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €58.81 – €167.88 · fair‑value band €6.78 – €32.81 · the €76.20 price screens above the €9.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Altarea SCA is the French leader in low-carbon urban transformation, offering the most comprehensive real estate services of the City and its stakeholders. The Group has for each of its activities all the know-how and brands recognized brands to design, develop, market, and manage tailor-made real estate products.
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Altarea SCA is the French leader in low-carbon urban transformation, offering the most comprehensive real estate services of the City and its stakeholders. The Group has for each of its activities all the know-how and brands recognized brands to design, develop, market, and manage tailor-made real estate products. Altarea is listed on compartment A of Euronext Paris. Altarea SCA was incorporated in 1994 in France.
Stock analysis
Altarea SCA (0IRK) currently trades at €76.20, while our model-based Fair Value estimate is €9.03, 88.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of €69.51 per share, and 3 of the 7 models we run sit above the €76.20 price.
Bear case: the Economic Profit group reads lowest at €64.19, and 4 of the 7 models stay below the price. Evidence for this calculation is medium.
Scenario range: €6.78 (bear) to €32.81 (bull), the price of €76.20 sits above 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 35/100 (below-average 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.
Altarea SCA reported revenue of €2.1B in FY2025 versus €3.0B in FY2021, a compound −8.7%/yr. Reported net income was €8.4M in FY2025, compounding −57.4%/yr from FY2021.
Key figures
Market cap €1.8B · P/E ratio 0.1 · EPS (TTM) €11.49 · Dividend yield 10.5% · Net margin 0.4% · Return on equity 2.3% · Return on assets (EBIT) 1.9% · Operating margin 6.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 11% fair-value upside, at −88%, 0IRK screens richer than that median.
Fair Value models
Bear €6.78
Fair Value €9.03
Bull €32.81
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€2.64 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.
Evidence ⓘEvidence = 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.
Highest evidence
Residual Income
€69.20
€64.19
€60.59
76
EV/EBITDA
€201.06
€260.00
€318.93
64
EV/EBIT
€214.13
€277.42
€340.71
63
All 7 models by family
Multiples
P/S Multiple
€6.78
€9.03
€11.29
58
P/B Multiple
€6.78
€9.03
€11.29
55
EV/EBIT
€214.13
€277.42
€340.71
63
EV/EBITDA
€201.06
€260.00
€318.93
64
EV/Revenue
€128.98
€173.85
€218.73
52
Asset-Based
NCAV (Graham)
€51.87
€69.51
€103.75
51
Economic Profit
Residual Income
€69.20
€64.19
€60.59
76
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Set up alert →Quality Score breakdown
Overall quality
35/100
Of which business quality 36 · Market factors (momentum, volatility) 32
Profitability
14
Margins and returns on capital today
Quality Growth
36
Are margins and returns improving?
Cashflow
34
Earnings quality: real cash, not paper profit
Fin. Strength
38
Balance sheet, leverage, solvency risk
Investment
94
Disciplined investing over empire-building
Low Volatility
80
Calm price path (market factor)
Momentum
17
Price trend over the last 3–12 months (market factor)
52W Momentum
5
Distance to the 52-week high (market factor)
Net Issuance
22
Share count: buybacks or dilution?
Revenue & earnings trend
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.
−2.6%
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.
−2.4%
Revenue growth 12 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.
+5.5%
’14
’15
’16
’17
’18
’19
’20
’21
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’23
’24
’25
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. Basis: EBIT basis.
−2.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.7%
Dividend (yield on the price)10.5%
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.−52.8% vs −28.8%, slowing
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.9% → 9%
Start year 2020 (pandemic)
0IRK screens overvalued: fair value 88% below the price. Compare with Comcast Holdings →
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Comcast Holdings CCZ | $64.67 | $71.54 | +11% |
| Essex Property Trust, Inc ESS | $273.01 | $292.02 | +7% |
| Sun Communities, Inc SUI | $112.26 | $152.95 | +36% |
| Mid-America Apartment Communities, Inc MAA | $118.43 | $122.78 | +4% |
| American Homes 4 Rent (AMH or the General Partner) AMH | $30.64 | $53.24 | +74% |
| UDR, Inc UDR | $33.84 | $34.92 | +3% |
| Equity LifeStyle Properties, Inc ELS | $59.23 | $31.11 | −47% |
| Camden Property Trust, an S&P 500 Company CPT | $96.62 | $53.80 | −44% |
| Unum Group UNMA | $21.59 | $30.29 | +40% |
| Millrose Properties, Inc MRP | $25.20 | $41.87 | +66% |
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Frequently asked questions
Is Altarea SCA (0IRK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €9.03 versus a price of €76.20, about −88% upside (overvalued).
What is the fair value of 0IRK?
Our model-based fair value for Altarea SCA is €9.03 (as of Sep 24, 2026), built from audited fundamentals. The current price: €76.20.
What is the quality score of 0IRK?
Altarea SCA has a Quality Score of 35/100. 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 Altarea SCA (0IRK)?
Our model-based price target is the fair value of €9.03 (as of Sep 24, 2026) from 7 valuation models. Cautious scenario €6.78, optimistic scenario €32.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Altarea SCA stock forecast for 2026?
Our models put fair value at €9.03, about −88% upside versus a price of €76.20 (overvalued). Cautious scenario €6.78, optimistic scenario €32.81. The calculation is refreshed regularly with new filings.
What is the revenue of Altarea SCA (0IRK)?
Altarea SCA reported trailing-twelve-month revenue of about €2.0B (latest available figure, as of Sep 24, 2026).
Does Altarea SCA pay a dividend?
Altarea SCA currently shows a dividend yield of about 10.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Altarea SCA (0IRK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Altarea SCA it is €9.03 per share (as of Sep 24, 2026), against a price of €76.20. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Altarea SCA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0IRK trades above its calculated fair value: price €76.20, fair value €9.03, a gap of about −88% (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 0IRK?
No. The price is what the market pays today (€76.20); the fair value is what the company's own numbers justify (€9.03). For Altarea SCA the two are €67.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is Altarea SCA worth?
The market values Altarea SCA at about €1.8B (market capitalisation, as of Sep 24, 2026). Per share that is €76.20; our models calculate a fair value of €9.03 per share.
What do the bullish and bearish scenarios say about 0IRK?
Our models span a range for Altarea SCA: cautious scenario €6.78, base €9.03, optimistic €32.81 per share (as of Sep 24, 2026, price €76.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0IRK from its 52-week high?
Altarea SCA trades at €76.20, about 38% below its 52-week high of €122.38 and at the low of €76.20 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €9.03 is for.
Which stocks are comparable to Altarea SCA?
From the same area (Real Estate) we also value Comcast Holdings, Essex Property Trust, Inc, Sun Communities, Inc, Mid-America Apartment Communities, Inc, 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 Altarea SCA stock attractive at the current price?
The data as of Sep 24, 2026: price €76.20, calculated fair value €9.03 (−88%), Quality Score 35/100, from 7 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 0IRK calculated?
We run Altarea SCA through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €9.03, 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 14.5 % above its aggregate fair value. Altarea SCA 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 Altarea SCA (0IRK)?
The closing price on Oct 2, 2026 was €76.20. Our model-based fair value is €9.03, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Altarea SCA right now?
The price sits above even our optimistic bull case (€32.81). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€6.78 to €32.81). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Altarea SCA
How large is the market capitalisation of Altarea SCA (0IRK)?
The market capitalisation of Altarea SCA is €1.8B. 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/E ratio of Altarea SCA (0IRK)?
The price-to-earnings ratio of Altarea SCA is 0.1 (as of Jul 24, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What are the earnings per share of Altarea SCA (0IRK)?
Earnings per share at Altarea SCA are €11.49 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Altarea SCA (0IRK)?
The dividend yield of Altarea SCA is 10.5% (payout 69.6%). 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 Altarea SCA (0IRK)?
The net margin of Altarea SCA is 0.4% (fiscal year 2025). 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 Altarea SCA (0IRK)?
The return on equity (ROE) of Altarea SCA is 2.3% (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 Altarea SCA (0IRK)?
On an EBIT basis the return on assets of Altarea SCA is 1.9% (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 Altarea SCA (0IRK)?
The operating margin of Altarea SCA is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Altarea SCA (0IRK)?
Revenue at Altarea SCA is growing −29.7% versus a year earlier (3y avg −11.6%). 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 Altarea SCA (0IRK)?
Earnings per share at Altarea SCA are growing −66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Altarea SCA (0IRK) generate?
The free cash flow of Altarea SCA is −€38.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Altarea SCA (0IRK) carry?
The net debt of Altarea SCA is €2.6B (fiscal year 2025). 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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