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European operator of nursing homes, retirement residences, clinics and home-care services, formerly known as Korian.
European operator of nursing homes, retirement residences, clinics and home-care services, formerly known as Korian.
Earns daily charges from residents and from public payers such as national health insurers, with rates often set or capped by governments, so occupancy and staff costs decide results. France, Germany and the Benelux countries are its core markets, and it has been selling assets and cutting debt since renaming itself from Korian in 2023.
In one line: A European Brookdale Senior Living, spanning several countries.
Moat: narrow (regulatory licence, scale, installed base). Large multi-country bed network and licences, but reimbursement-dependent and highly leveraged like peers.
Headquarters: Puteaux, France · Founded: 2003 · Employees: 70,685
Size Clariane (CLARI.PA) is a France Health Care company (Medical/Nursing Services) with a market value of $1.40B, the 122nd largest of 206 France companies the cockpit tracks. Shares closed at €3.48 on 6 Nov 2026.
Performance Over six months the shares fell 19.9%, against +22.8% for the median peer and -0.4% for the France market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 1.0% over the last twelve months (peer median +9.6%); the operating margin is 6.2% (peer median 5.0%).
Valuation It trades at 8.6× forward earnings against a peer median of 33.1× (2nd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.1 points below its cost of capital (5.3% WACC).
Credit Clariane has 6 bonds outstanding ($3.03B), rated B+ by the agencies and trading like B at a weighted spread of 418 bp.
Next results Next results expected around 26 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.35B | €5.31B | €5.28B | €5.05B | €4.53B |
| Revenue growth | — | +1% | +5% | +11% | — |
| Gross profit | €736M | €628M | €644M | €383M | €351M |
| EBITDA | €1.03B | €1.01B | €1.01B | €1.02B | €1.00B |
| Net income | €12.6M | €1.59M | -€39.9M | -€105M | €22.1M |
| Free cash flow | €571M | €578M | €352M | €223M | €116M |
| Capital expenditure | €231M | €262M | €320M | €499M | €631M |
| Total debt | n/a | €7.81B | €7.98B | €8.55B | €8.27B |
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 |
|---|---|---|---|---|---|---|
| Clariane CLARI.PA | $1.40B | -20% | +1% | 6% | 8.6× | 6.7% |
| Emeis EMEIS.PA | $1.94B | -30% | +4% | 3% | n/a | 21.3% |
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 | CLARI.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.7% | +4.8% | 9th highest of 21 |
| 6-month return | -19.9% | +22.8% | 2nd lowest of 21 |
| Distance from 52-week high | -21.2% | -16.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +1.0% | +9.6% | 5th lowest of 21 |
| Operating margin | 6.2% | 5.0% | 11th highest of 21 |
| Forward P/E | 8.6× | 33.1× | 2nd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 6.7% | 15.0% | 4th least demanding of 16 |
| Growth delivered (Del g) | +6.5% | +13.0% | 3rd lowest of 16 |
| Hurdle (Req g minus delivered) | +0.2 pp | +6.8 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | -3.1 pp | -3.7 pp | 10th highest of 20 |
| EV / EBITDA | 8.2× | 21.1× | 4th cheapest of 16 |
| Net debt / EBITDA | 6.7× | 1.0× | 3rd most indebted of 17 |
| Bond spread | 418 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Clariane CLARI.PA | France | $1.40B | -20% | +1% | 6% | 8.6× | 6.7% | +6.5% |
| H.U.Group 4544.T | Japan | $1.35B | +24% | +1% | 2% | 41.0× | 10.1% | +2.1% |
| U.S. Physical Therapy USPH | United States | $1.48B | +68% | +11% | 10% | 30.4× | 19.9% | +13.0% |
| Diagnostyka DIA.WA | Poland | $1.29B | -5% | +19% | 15% | 18.4× | 6.9% | +18.9% |
| OPKO Health OPK | United States | $1.29B | +52% | -11% | -29% | n/a | n/a | n/a |
| Lumexa Imaging LMRI | United States | $1.29B | +29% | +8% | 3% | 18.6× | n/a | n/a |
| Pennant PNTG | United States | $1.27B | +1% | +38% | 6% | 24.0× | 21.1% | +19.4% |
| Metropolis Healthcare METROPOLIS.NS | India | $1.25B | +12% | +20% | 18% | 45.6× | 32.4% | +10.5% |
| Sonida Senior Living SNDA | United States | $1.58B | -14% | +49% | -11% | n/a | n/a | n/a |
| Nutex Health NUTX | United States | $1.24B | +32% | +7% | 43% | 7.2× | -19.5% | +253.5% |
| Teladoc Health TDOC | United States | $1.60B | +21% | -2% | -5% | n/a | -5.2% | +18.3% |
| Vijaya Diagnostic Centre VIJAYA.NS | India | $1.60B | +22% | +24% | 32% | 64.3× | 39.3% | +16.7% |
| GoodRx GDRX | United States | $1.20B | +20% | -2% | 12% | 10.4× | 6.8% | +7.7% |
| Ambea AMBEA.ST | Sweden | $1.63B | +30% | +13% | 8% | 15.8× | 1.7% | +7.7% |
| Ping An Healthcare and Technology 1833.HK | Hong Kong | $1.63B | -47% | +8% | 3% | 40.1× | 15.0% | -5.1% |
| Novogene 688315.SS | China | $1.16B | +31% | +6% | 7% | 35.7× | 17.1% | +8.2% |
| Personalis PSNL | United States | $1.71B | +164% | -13% | -164% | n/a | n/a | n/a |
| Azenta AZTA | United States | $1.72B | +104% | +1% | -3% | 103.7× | 56.0% | +8.9% |
| Dr. Agarwal's Health Care AGARWALEYE.NS | India | $1.74B | +15% | +22% | 15% | 89.1× | 41.9% | +26.9% |
| Regis Healthcare REG.AX | Australia | $1.05B | -17% | +17% | 4% | 25.1× | 14.6% | +14.4% |
| GeneDx WGS | United States | $1.86B | +53% | +25% | -12% | 98.7× | n/a | n/a |
Clariane has 6 bonds outstanding with $3.03B face value. The agencies rate it B+; its bonds trade like B. Weighted yield 7.28%, a spread of 418 bp over government bonds.