Altareit SCA

AREIT.PA

Real Estate - Development · Real Estate

Price

€585.00

+0.00 (+0.00%)

Market Cap

€1.02B

Exchange

Euronext Paris

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Altareit is a French real estate development company that builds and sells homes, apartments, and commercial properties. It is a subsidiary of the Altarea group, one of France's largest real estate developers, and serves individual homebuyers, investors, and businesses looking for office or retail space. The company operates mainly in France across residential and commercial real estate segments.

Altareit makes money by developing properties and selling them, either to private buyers or institutional investors. Revenue depends heavily on how many projects it completes and sells in a given period, which makes earnings lumpy and tied closely to the French housing market. With an operating margin currently negative and a weak return on invested capital, the company faces real pressure from rising construction costs, higher interest rates, and a slowdown in French housing demand — all of which reduce buyer appetite and squeeze profit on each development project.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+71.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+630.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

99.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~14 months

€203M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Altareit SCA grew revenue 72% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 1.7M (2021) → 1.7M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

16.1%

Thin — 16.1% gross margin

Profit after running costs

Operating Margin

3.3%

Thin — 3.3% operating margin

Return on the money invested

ROCE

-2.1%

Weak — -2.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-6.9%

Shrinking sales (-6.9% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-4.3%

Burning cash (-4.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.98

Moderate — manageable debt (0.98)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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