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French REIT owning and operating large shopping centers across continental Europe.
French REIT owning and operating large shopping centers across continental Europe.
Earns rent from retailers, with most leases indexed to inflation and some adding a share of tenants' sales, so income follows both prices and shopper spending. The 2015 purchase of the Dutch mall owner Corio widened it from France and Southern Europe into Northern Europe.
Moat: narrow (installed base, scale). Portfolio of dominant, well-located shopping centers in major European cities.
Headquarters: Paris, France · Founded: 1990 · Employees: 1,053
Size Klepierre (LI.PA) is a France Real Estate company (Real Estate Development) with a market value of $11.6B, the 46th largest of 206 France companies the cockpit tracks. Shares closed at €36.80 on 6 Nov 2026.
Performance Over six months the shares gained 7.6%, against -5.0% for the median peer and -0.4% for the France market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 3.0% over the last twelve months (peer median +10.8%); the operating margin is 63.4% (peer median 28.2%).
Valuation It trades at 13.1× forward earnings against a peer median of 18.4× (6th cheapest of 20).
Credit Klepierre has 10 bonds outstanding ($7.30B), rated A- by the agencies and trading like BBB+ at a weighted spread of 103 bp.
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.68B | €1.66B | €1.58B | €1.50B | €1.51B |
| Revenue growth | — | +4% | +6% | -1% | — |
| Gross profit | €1.23B | €1.21B | €1.15B | €1.09B | €1.10B |
| EBITDA | €1.08B | €1.04B | €1.01B | €961M | €954M |
| Net income | €1.37B | €1.30B | €1.10B | €193M | €415M |
| Free cash flow | €724M | €726M | €668M | €622M | €639M |
| Capital expenditure | €197M | €206M | €190M | €200M | €187M |
| Total debt | n/a | €8.46B | €8.04B | €7.92B | €7.93B |
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 |
|---|---|---|---|---|---|---|
| Klepierre LI.PA | $11.6B | +8% | +3% | 63% | 13.1× | n/a |
| 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 |
| Carmila CARM.PA | $2.40B | -7% | -1% | 60% | 8.2× | 4.3% |
| Hammerson HMSO.L | $2.80B | +13% | +92% | 49% | 15.2× | 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 | LI.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +7.8% | 9th lowest of 21 |
| 6-month return | +7.6% | -5.0% | 7th highest of 21 |
| Distance from 52-week high | -8.9% | -15.6% | 5th highest of 21 |
| Revenue growth (TTM) | +3.0% | +10.8% | 8th lowest of 21 |
| Operating margin | 63.4% | 28.2% | 5th highest of 21 |
| Forward P/E | 13.1× | 18.4× | 6th cheapest of 20 |
| Bond spread | 103 bp | 125 bp | 3rd tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Klepierre LI.PA | France | $11.6B | +8% | +3% | 63% | 13.1× | n/a | n/a |
| China Res Mixc 1209.HK | Hong Kong | $12.1B | -14% | +10% | 28% | 18.4× | n/a | n/a |
| Lodha Developers LODHA.NS | India | $12.5B | +22% | +21% | 31% | 27.0× | n/a | n/a |
| Wharf Reic 1997.HK | Hong Kong | $12.6B | +24% | -1% | 73% | 14.8× | n/a | n/a |
| Sino Land 0083.HK | Hong Kong | $12.8B | -20% | +15% | 34% | 20.4× | n/a | n/a |
| China Merchants Shekou Industrial Zone 001979.SZ | China | $10.4B | -10% | -22% | 1% | 69.7× | n/a | n/a |
| Swiss Prime Site SPSN.SW | Switzerland | $13.0B | +1% | -12% | 76% | 31.7× | n/a | n/a |
| Poly Developments & 600048.SS | China | $10.1B | -9% | -4% | 4% | 48.6× | n/a | n/a |
| Hulic 3003.T | Japan | $9.16B | +7% | +25% | 23% | 11.5× | n/a | n/a |
| PSP Swiss Property PSPN.SW | Switzerland | $8.73B | +5% | +44% | 68% | 27.9× | n/a | n/a |
| Vonovia VNA.DE | Germany | $16.1B | -24% | -17% | 40% | 9.4× | n/a | n/a |
| Phoenix Mills PHOENIXLTD.NS | India | $8.13B | +18% | +13% | 52% | 52.0× | n/a | n/a |
| Jones Lang LaSalle JLL | United States | $16.9B | +12% | +11% | 5% | 13.4× | n/a | n/a |
| Wharf (Holdings) 0004.HK | Hong Kong | $7.92B | -32% | -1% | 41% | 15.7× | n/a | n/a |
| Compass COMP | United States | $7.84B | +17% | +68% | 0% | n/a | n/a | n/a |
| Hongkong Land H78.SI | Singapore | $17.7B | -1% | -25% | 23% | 20.9× | n/a | n/a |
| Ctp CTPNV.AS | Netherlands | $7.43B | -18% | +12% | 67% | 13.0× | n/a | n/a |
| Prestige Estates Projects PRESTIGE.NS | India | $7.42B | +10% | +66% | 24% | 38.5× | n/a | n/a |
| Henderson Land 0012.HK | Hong Kong | $18.3B | -12% | +46% | 20% | 17.2× | n/a | n/a |
| China Overseas 0688.HK | Hong Kong | $18.4B | -13% | +4% | 11% | 10.2× | n/a | n/a |
| Sumitomo Realty & Development C 8830.T | Japan | $18.8B | -34% | +5% | 29% | 12.8× | n/a | n/a |
Klepierre has 10 bonds outstanding with $7.30B face value. The agencies rate it A-; its bonds trade like BBB+. Weighted yield 4.21%, a spread of 103 bp over government bonds.