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Patrimoine et Commerce SA (PAT) Fair Value & Analysis

Real Estate · FR · Market cap €395M

PE Patrimoine et Commerce SA PAT · PA
Price€25.40
Fair Value€27.31
Upside+7.5%
Quality94/100
Evidence: High Range €21.56 – €35.93

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Share price +3.7% over the past month.

Price vs Fair Value (12 months)

€25.70 €22.68 Fair Value €27.31 Jul 2025 Jun 2026

12‑month range €22.68 – €25.70 · fair‑value band €21.56 – €35.93 · the €25.40 price screens below the €27.31 fair value. As of Jun 26, 2026.

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Analysis

Patrimoine et Commerce SA (PAT) currently trades at €25.40, while our model-based Fair Value estimate is €27.31 — implying the stock looks roughly 7.5% undervalued today. We read business quality at 94/100 (high quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, Patrimoine et Commerce SA generated revenue of €67.9M at a net margin of 61.8%. Revenue declined 0.1% year over year. It earns a return on equity of 8.2%. Net debt stands at €410M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) €67.9M
Revenue growth (YoY) -0.1%
Net margin 61.8%
Return on equity 8.2%
Free cash flow €14.3M FY2025
P/E ratio 9.2
More key figures
Operating margin 88.1%
EPS (TTM) €2.64
Dividend yield 5.9%
EPS growth (YoY) +13.6%
Net debt €410M FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Patrimoine et Commerce SA, a real estate company, engages in the acquisition, development, and operation of commercial real estate properties in France. The company operates a portfolio of 31 real estate assets covering a total area of 129,280 square meters located in high-attraction areas in the suburbs or centers of medium-sized cities. Its property portfolio includes shopping malls, supermarkets, shops, and business parks. The company is based in Boulogne-Billancourt, France.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Patrimoine et Commerce SA reported revenue of €71.9M in FY2025 versus €54.8M in FY2021, a compound +7.0%/yr. Reported net income was €41.9M in FY2025, compounding +7.4%/yr from FY2021.

Revenue +7.0%/yr
FY21 €54.8M
FY22 €57.6M
FY23 €61.6M
FY24 €70.7M
FY25 €71.9M
Net income +7.4%/yr
FY21 €31.5M
FY22 €47.8M
FY23 €29.0M
FY24 €41.0M
FY25 €41.9M

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Similar stocks

6 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

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Simon Property Group SPG $222.15 $86.11 -61%
Realty Income Corporation O 1,055 MXN 664.56 MXN -37%
Unibail-Rodamco-Westfield SE UNBLF $117.90 $115.29 -2%
Kimco Realty Corporation KIM $24.38 $12.65 -48%
Scentre Group STGPF $2.65 $2.31 -13%
CapitaLand Integrated Commercial Trust (CICT or the Trust) CPAMF $1.86 $1.07 -42%

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Frequently asked questions

Is Patrimoine et Commerce SA (PAT) undervalued?
As of Jun 26, 2026, our model estimates a fair value of €27.31 versus a price of €25.40 — about +8% (undervalued). Model-based estimate, not financial advice.
What is the fair value of PAT?
Our 21-model fair value for Patrimoine et Commerce SA is €27.31 (as of Jun 26, 2026), built from audited fundamentals. The current price is €25.40.
What is the quality score of PAT?
Patrimoine et Commerce SA has a Quality Score of 94/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Patrimoine et Commerce SA (PAT)?
Patrimoine et Commerce SA reported trailing-twelve-month revenue of about €67.9M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of PAT?
The net profit margin of Patrimoine et Commerce SA is about 61.8%, meaning it keeps roughly 61.8% of revenue as net income. Based on the latest reported figures.
Does Patrimoine et Commerce SA pay a dividend?
Patrimoine et Commerce SA currently shows a dividend yield of about 5.91% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.