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Citycon OyjCTY1S.HECompetitor analysis, valuation and peers

Finland · EUR·Real Estate›Real Estate Development
Momentum strong 65
Mkt cap
$612M
US dollars, full cap
Free float
12%
of shares outstanding
$/day
$80,356
20-day average traded
Fwd P/E
4.8×
forward earnings
ROIC−WACC
n/a
WACC 5.0%
Hurdle
n/a
no reverse DCF
Official | Implied
B+ / B
agencies · bond market
Next earnings
5 days
11 Nov 2026
Close · EUR€2.97
1D-1.3%
1W-1.0%
1M+0.3%
3M+2.4%
6M+1.2%
YTD-25.5%
1Y-25.3%
ATR %0.7%
52w lowhigh25.9% off high

What Citycon does

Employees: 156

Citycon at a glance

Size Citycon (CTY1S.HE) is a Finland Real Estate company (Real Estate Development) with a market value of $612M, the 47th largest of 65 Finland companies the cockpit tracks. Shares closed at €2.97 on 6 Nov 2026.

Performance Over six months the shares gained 1.2%, against -8.2% for the median peer and -2.9% for the Finland market (cap-weighted) — 4th highest of 21 in its peer set.

Growth Revenue fell 1.6% over the last twelve months (peer median +6.3%); the operating margin is 59.3% (peer median 19.3%).

Valuation It trades at 4.8× forward earnings against a peer median of 10.1× (cheapest of 8).

Credit Citycon has 6 bonds outstanding ($2.23B), rated B+ by the agencies and trading like B at a weighted spread of 481 bp.

Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).

Relative performance

909510010511 May 202611 Aug 20266 Nov 2026CTY1S.HE 102Peer median 92
Six months, rebased to 100: Citycon against the median of its 20 peers (local-currency closes).

Citycon financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue€308M€298M€324M€290M€302M
Revenue growth—-8%+12%-4%—
Gross profit€216M€201M€214M€193M€202M
EBITDAn/a€179M€187M€168M€151M
Net income€42.3M€53.2M-€73.2M-€118M€5.30M
Free cash flow€81.6M€82.5M€79.9M€95.4M€66.7M
Capital expenditure€5.60M€1.20M€1.00M€2.30M€4.60M
Total debt€2.50B€2.37B€2.72B€2.47B€2.50B

Quarterly statements and history in the cockpit →

Citycon competitor charts

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.

Performance: 6-month against 1-month return

-30%-20%-10%0%+10%-10%0%NIRLONSMARTWORKS61773465H30MLG003488921224025860065800280005580008828841ECH603682600340600790CTY1S.HE6-month return →1-month return →
Up and to the right = strong over both horizons. Citycon is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%0×20×40×60×SMARTWORKS61773465MLG8841ECH603682CTY1S.HERevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Citycon is the large dot.

Citycon competitors and peer comparison

How Citycon compares with its peers

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.

Citycon against its 20 peers (data as of 6 Nov 2026)
MeasureCTY1S.HEPeer medianRank in peer set
1-month return+0.3%-4.6%5th highest of 21
6-month return+1.2%-8.2%4th highest of 21
Distance from 52-week high-25.9%-25.4%11th highest of 21
Revenue growth (TTM)-1.6%+6.3%9th lowest of 21
Operating margin59.3%19.3%3rd highest of 21
Forward P/E4.8×10.1×cheapest of 8
Bond spread481 bpn/a—

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Citycon CTY1S.HEFinland$612M+1%-2%59%4.8×n/an/a
Nirlon NIRLON.NSIndia$611M+9%+5%69%n/an/an/a
Smartworks Coworking Spaces SMARTWORKS.NSIndia$623M+12%+31%21%54.9×n/an/a
DA-LI DEVELOPMENT 6177.TWTaiwan$599M-8%+94%31%5.0×n/an/a
KI-Star Real Estate 3465.TJapan$633M0%+15%8%5.0×n/an/a
Hong Fok H30.SISingapore$590M-8%-1%43%n/an/an/a
MLP MLG.WAPoland$588M-5%+20%48%9.5×n/an/a
Kowloon Development 0034.HKHong Kong$638M-21%-47%11%n/an/an/a
ES-CON JAPAN 8892.TJapan$641M-10%+34%20%n/an/an/a
C C Land 1224.HKHong Kong$579M-2%+14%40%n/an/an/a
Tomson 0258.HKHong Kong$578M-16%-73%44%n/an/an/a
Beijing Electronic Zone High-tech 600658.SSChina$577M-33%-21%-163%n/an/an/a
Tian An China Investments 0028.HKHong Kong$577M-30%-65%9%n/an/an/a
Chengdu New Tianfu Culture Tourism Development 000558.SZChina$650M-21%+8%-3%n/an/an/a
Beijing Hualian Department Store 000882.SZChina$571M-16%-21%-18%n/an/an/a
TOC 8841.TJapan$569M-9%+15%19%27.3×n/an/a
Echo Investment ECH.WAPoland$569M+11%+120%19%10.1×n/an/a
Shanghai Golden Union Commercial Management (Group) 603682.SSChina$568M-7%-13%-15%66.8×n/an/a
China Fortune Land Development 600340.SSChina$660M-12%-43%-201%n/an/an/a
Zhejiang China Light & Textile Industrial City 600790.SSChina$660M-23%-9%-34%n/an/an/a
Nordeste Properties Socimi SCHST.MCSpain$661M-2%+9%63%n/an/an/a

Citycon bonds and credit

Citycon has 6 bonds outstanding with $2.23B face value. The agencies rate it B+; its bonds trade like B. Weighted yield 7.82%, a spread of 481 bp over government bonds.

Every bond, yield and spread in the cockpit →

Questions

Which companies are Citycon's closest peers?
The cockpit's peer set: Nirlon (NIRLON.NS), Smartworks Coworking Spaces (SMARTWORKS.NS), DA-LI DEVELOPMENT (6177.TW), KI-Star Real Estate (3465.T), Hong Fok (H30.SI), MLP (MLG.WA), Kowloon Development (0034.HK), ES-CON JAPAN (8892.T).
Is Citycon expensive compared with its peers?
On forward p/e it trades at 4.8× against a peer median of 10.1×, cheapest of 8 in its peer set.
How has Citycon stock performed?
Over six months to 6 Nov 2026 the shares returned +1.2% against -8.2% for the median peer; over one year -25.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.