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French real-estate developer building mixed-use urban projects spanning residential, retail and office properties.
French real-estate developer building mixed-use urban projects spanning residential, retail and office properties.
Residential development carries the group, selling apartments off-plan under its Cogedim brand and recognising revenue as building proceeds, while shopping centres add rent and fees. Alain Taravella, the founder, controls the manager of the partnership.
In one line: A French real-estate developer akin to a smaller Lennar plus mall landlord.
Moat: narrow (scale, installed base). Large urban land bank and development pipeline in France, but development is capital-intensive and cyclical.
Headquarters: Paris, France · Founded: 1994 · Employees: 1,655
Size Altarea SCA (ALTA.PA) is a France Real Estate company (Real Estate Development) with a market value of $2.05B, the 104th largest of 206 France companies the cockpit tracks. Shares closed at €74.10 on 6 Nov 2026.
Performance Over six months the shares fell 31.4%, against -5.4% for the median peer and -0.4% for the France market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 20.4% over the last twelve months (peer median +8.5%); the operating margin is 9.3% (peer median 25.0%).
Valuation It trades at 9.9× forward earnings against a peer median of 13.6× (6th cheapest of 18).
Credit Altarea SCA has 3 bonds outstanding ($1.17B), rated BBB- by the agencies and trading like BB+ at a weighted spread of 189 bp.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.02B | €2.10B | €2.77B | €2.71B | €3.02B |
| Revenue growth | — | -24% | +2% | -10% | — |
| Gross profit | €537M | €550M | €612M | €559M | €795M |
| EBITDA | €225M | €219M | €244M | -€120M | €311M |
| Net income | €35.8M | €8.40M | €6.10M | -€473M | €327M |
| Free cash flow | €124M | -€38.1M | €343M | €302M | €185M |
| Capital expenditure | €100M | €109M | €31.9M | €15.3M | €9.30M |
| Total debt | n/a | €2.84B | €3.00B | €2.89B | €3.00B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Altarea SCA ALTA.PA | $2.05B | -31% | -20% | 9% | 9.9× | n/a |
| Nexity NXI.PA | n/a | -50% | n/a | n/a | n/a | n/a |
| Icade ICAD.PA | $1.33B | -22% | -9% | 17% | 5.3× | n/a |
| Kaufman & Broad KOF.PA | $437M | -19% | 0% | 8% | 7.3× | -16.2% |
| Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod URW.PA | n/a | -7% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALTA.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +1.0% | 9th highest of 21 |
| 6-month return | -31.4% | -5.4% | lowest of 21 |
| Distance from 52-week high | -43.6% | -26.4% | 3rd lowest of 21 |
| Revenue growth (TTM) | -20.4% | +8.5% | 2nd lowest of 21 |
| Operating margin | 9.3% | 25.0% | 7th lowest of 21 |
| Forward P/E | 9.9× | 13.6× | 6th cheapest of 18 |
| Bond spread | 189 bp | 164 bp | 2nd widest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Altarea SCA ALTA.PA | France | $2.05B | -31% | -20% | 9% | 9.9× | n/a | n/a |
| Neinor Homes HOME.MC | Spain | $2.04B | +10% | +165% | 10% | 13.0× | n/a | n/a |
| Fabege FABG.ST | Sweden | $2.02B | -16% | +27% | 59% | 14.7× | n/a | n/a |
| Nanjing Gaoke 600064.SS | China | $2.00B | -4% | +4% | -18% | 5.8× | n/a | n/a |
| Leopalace21 8848.T | Japan | $1.99B | +52% | +3% | 8% | 13.0× | n/a | n/a |
| Winnovation Culturaltainment Development Limited 000620.SZ | China | $2.12B | -6% | +14% | -39% | 66.0× | n/a | n/a |
| China Enterprise 600675.SS | China | $1.98B | -15% | -35% | 4% | n/a | n/a | n/a |
| Country Garden Services 6098.HK | Hong Kong | $2.13B | -21% | +11% | 4% | 7.0× | n/a | n/a |
| Hufvudstaden HUFV-A.ST | Sweden | $2.14B | -5% | -4% | 47% | 20.9× | n/a | n/a |
| Sirius Real Estate SRE.L | United Kingdom | $2.14B | +1% | +13% | 41% | 13.6× | n/a | n/a |
| Lumo Homes LUMO.HE | Finland | $2.14B | -3% | +1% | 59% | 15.8× | n/a | n/a |
| Hang Lung 0010.HK | Hong Kong | $2.14B | -25% | +9% | 53% | n/a | n/a | n/a |
| Metrovacesa MVC.MC | Spain | $1.95B | -5% | +58% | 13% | 26.4× | n/a | n/a |
| Argan ARG.PA | France | $1.95B | +14% | +5% | 78% | 11.2× | n/a | n/a |
| Newmark NMRK | United States | $2.16B | -29% | +16% | 7% | 6.1× | n/a | n/a |
| Zhaojin International Gold 000506.SZ | China | $1.95B | -13% | +42% | 27% | n/a | n/a | n/a |
| Entra ENTRA.OL | Norway | $1.95B | -4% | -9% | 82% | 15.2× | n/a | n/a |
| Hysan Development 0014.HK | Hong Kong | $2.16B | -20% | -2% | 72% | 7.5× | n/a | n/a |
| Brigade Enterprises BRIGADE.NS | India | $1.93B | -4% | -4% | 23% | 20.0× | n/a | n/a |
| Green Development Electricity Group of Tianjin 000537.SZ | China | $2.19B | -28% | +13% | 31% | 37.3× | n/a | n/a |
| Poly Property Services 6049.HK | Hong Kong | $1.92B | -14% | +8% | 11% | 7.9× | n/a | n/a |
Altarea SCA has 3 bonds outstanding with $1.17B face value. The agencies rate it BBB-; its bonds trade like BB+. Weighted yield 4.91%, a spread of 189 bp over government bonds.