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Altareit (AREIT) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Altareit €130, price €560, upside -76.7%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Real Estate · FR · ISIN FR0000039216

A Thin data Sep 23, 2026

Altareit

AREIT · PA

Weakest SetupStrongly overvalued and low quality.

!Fair value €130.25 · Strongly overvalued (−77%)
!Quality 38/100
!Weak Growth (revenue 5y −8.2 %/yr)
!Loss-making · -3.4% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (1/10)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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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

€720.00 €438.00 Fair Value €130.25 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €438.00 – €720.00 · fair‑value band €97.20 – €194.40 · the €560.00 price screens above the €130.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Altareit SCA operates as a real estate development company in France. It operates through Residential, Business Property, and Diversification segments.

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Altareit SCA operates as a real estate development company in France. It operates through Residential, Business Property, and Diversification segments. The company develops business and residential properties, including offices, retail, logistics, hotels, serviced residences, photovoltaic infrastructures, and data centers, as well as real estate asset management and investment services. It serves private sector social housing institutional investors, and individual buyers and investors. Altareit SCA was incorporated in 1955 and is headquartered in Paris, France. Altareit SCA is a subsidiary of Altarea SCA.

Stock analysis

Altareit (AREIT) currently trades at €560.00, while our model-based Fair Value estimate is €130.25, implying the stock looks roughly 329.9% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: €97.20 (bear) to €194.40 (bull), the price of €560.00 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 38/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Altareit reported revenue of €1.9B in FY2025 versus €2.8B in FY2021, a compound −9.9%/yr. Reported net income was −€67.0M in FY2025.

Key figures

Market cap €979M · P/S ratio 0.52 · EPS (TTM) €−38.38 · Net margin −3.6% · Return on equity −8.0% · Return on assets (EBIT) −1.1% · Operating margin −4.7% · Revenue (TTM) €2.0B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −3% fair-value upside, at −77%, AREIT screens richer than that median.

Fair Value models

Bear €97.20 Fair Value €130.25 Bull €194.40
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. 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. 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
NCAV (Graham) €188.43 €252.49 €376.85 54
All 1 models by family
Asset-Based
NCAV (Graham) €188.43 €252.49 €376.85 54

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Quality Score breakdown

Overall quality 38/100

Of which business quality 37 · Market factors (momentum, volatility) 60

Profitability 12
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 49
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−29.0%
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.
−12.1%
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.
−8.2%
Start year 2020 (pandemic). Over 10 years: +5.5% a year
Revenue growth 25 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.
+15.4%
Profit margin (trend) ⓘ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.
4.9% (2020) → −2.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

AREIT screens 330% overvalued. Compare with Sun Hung Kai Properties Limited →

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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 - Development · 579 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −3% · Below median
Operating margin (TTM) −5% · Below median
Growth and dividend
Revenue growth −25% · Below median
Balance sheet
Debt / equity 0.42× · Above median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/B 1.69× · Priciest 25%
P/S (TTM) 0.56× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 53
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 11
HEALTH (low debt)79 · sector 83
DIVIDEND (yield)0 · sector 56

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, 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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.70 HK$153.48 +40%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹669.50 ₹170.37 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,144 ₹285.04 −75%
PT Pantai Indah Kapuk Dua Tbk, PANI 4,980 IDR 1,325 IDR −73%
Poly Developments and Holdings 600048 ¥5.68 ¥14.20 +150%
CTP N.V CTPNV €13.58 €10.30 −24%
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.27 ¥7.06 −3%

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Altareit · Fair Value
€130.25 −330%Fair Value
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Cite: Fair Value Calculator (2026). "Altareit Fair Value". https://www.fairvalue-calculator.com/stock/AREIT

Frequently asked questions

Is Altareit (AREIT) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €130.25 versus a price of €560.00, about −77% upside (overvalued).
What is the fair value of AREIT?
Our model-based fair value for Altareit is €130.25 (as of Sep 23, 2026), built from audited fundamentals. The current price: €560.00.
What is the quality score of AREIT?
Altareit has a Quality Score of 38/100. 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 Altareit (AREIT)?
Our model-based price target is the fair value of €130.25 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario €97.20, optimistic scenario €194.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Altareit stock forecast for 2026?
Our models put fair value at €130.25, about −77% upside versus a price of €560.00 (overvalued). Cautious scenario €97.20, optimistic scenario €194.40. The calculation is refreshed regularly with new filings.
What is the revenue of Altareit (AREIT)?
Altareit reported trailing-twelve-month revenue of about €2.0B (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Altareit (AREIT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Altareit it is €130.25 per share (as of Sep 23, 2026), against a price of €560.00. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Altareit stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AREIT trades above its calculated fair value: price €560.00, fair value €130.25, a gap of about −77% (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 AREIT?
No. The price is what the market pays today (€560.00); the fair value is what the company's own numbers justify (€130.25). For Altareit the two are €429.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Altareit worth?
The market values Altareit at about €979M (market capitalisation, as of Sep 23, 2026). Per share that is €560.00; our models calculate a fair value of €130.25 per share.
What do the bullish and bearish scenarios say about AREIT?
Our models span a range for Altareit: cautious scenario €97.20, base €130.25, optimistic €194.40 per share (as of Sep 23, 2026, price €560.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Altareit (AREIT)?
Balance-sheet figures for Altareit (as of Sep 23, 2026): return on equity −8.0%, debt of 0.42 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is AREIT from its 52-week high?
Altareit trades at €560.00, about 6% below its 52-week high of €595.00 and 10% above the low of €510.00 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €130.25 is for.
Which stocks are comparable to Altareit?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF Limited, 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 Altareit stock attractive at the current price?
The data as of Sep 23, 2026: price €560.00, calculated fair value €130.25 (−77%), Quality Score 38/100, from 1 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 AREIT calculated?
We run Altareit through 1 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 €130.25, 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 14.1 % above its aggregate fair value. Altareit 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 Altareit (AREIT)?
The closing price on Sep 23, 2026 was €560.00. Our model-based fair value is €130.25, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Altareit right now?
The price sits above even our optimistic bull case (€194.40). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€97.20 to €194.40) leaves room in how you read the outcome.

Key figures of Altareit

How large is the market capitalisation of Altareit (AREIT)?
The market capitalisation of Altareit is €979M. 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 Altareit (AREIT)?
The price-to-sales ratio of Altareit is 0.52 (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 Altareit (AREIT)?
Earnings per share at Altareit are €−38.38. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Altareit (AREIT)?
The net margin of Altareit is −3.6% (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 Altareit (AREIT)?
The return on equity (ROE) of Altareit is −8.0% (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 Altareit (AREIT)?
On an EBIT basis the return on assets of Altareit is −1.1% (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 Altareit (AREIT)?
The operating margin of Altareit is −4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Altareit (AREIT)?
Revenue at Altareit is growing −24.6% versus a year earlier (3y avg −12.1%). 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 Altareit (AREIT)?
Earnings per share at Altareit are growing −18.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Altareit (AREIT) generate?
The free cash flow of Altareit is −€203M (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 Altareit (AREIT) carry?
The net debt of Altareit is €687M (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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