Icade S.A. (CDMGF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Icade S.A. (CDMGF) trades at $22.75. Icade S. A. is a French integrated real estate player, operating as both an investor and a developer. Market cap: $1.73B, Sector: Real estate.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for CDMGF: CDMGF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates CDMGF against Real Estate peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
CDMGF: 1/1 perspectives are bearish.
How is this calculated? →Icade S.A. (CDMGF) Real Estate Portfolio & Strategy
Icade S.A., a French SIIC listed on Euronext Paris, operates as an integrated real estate investor and developer, focusing on office and healthcare properties and property development within the Greater Paris area and major French cities while prioritizing corporate social responsibility and sustainable urban development.
What Is the Investment Thesis for CDMGF?
Icade S.A. presents a compelling investment case based on its integrated real estate model and strategic focus on the Greater Paris area and major French cities. The company's emphasis on office and healthcare properties, with a portfolio valued at €11.6 billion, provides a stable revenue base. The dividend yield of 10.84% may attract income-seeking investors. However, the negative P/E ratio of -12.24 and a negative profit margin of -9.2% warrant careful consideration. Future growth will depend on Icade's ability to execute its development projects and adapt to changing urban needs. The company's commitment to CSR and sustainable development could also enhance its long-term value.
Based on FMP financials and quantitative analysis
CDMGF Key Highlights
- Portfolio value of €11.6 billion in office and healthcare properties as of June 30, 2020 (on a proportionate consolidation basis).
- 2019 economic revenues of nearly €1 billion from property development.
- Listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC).
- Dividend Yield of 10.84% (as of 2026-03-16).
- Beta of 0.94, indicating moderate volatility relative to the market.
Who Are CDMGF's Competitors?
CDMGF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BUNNF BWP Trust | $2.88 | -7.10% | $2.05B | 49 |
| CROMF Crombie Real Estate Investment Trust | $12.45 | +1.38% | $2.34B | — |
| DUSCF Deutsche EuroShop AG | $19.91 | -13.26% | $1.51B | 48 |
| GRNNF Grand City Properties S.A. | $9.66 | +0.00% | $1.70B | 58 |
| HRUFF H&R Real Estate Investment Trust | $7.84 | +1.16% | $2.07B | — |
| LNSPF LondonMetric Property Plc | $2.45 | +0.00% | $5.72B | 63 |
| EPRT Essential Properties Realty Trust, Inc. | $31.25 | +0.24% | $6.76B | 61 |
| TKURF Tokyu REIT, Inc. | $1314.00 | +0.00% | $1.26B | 59 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CDMGF's Key Strengths?
- Strong market position in the Greater Paris area.
- Diversified portfolio of office and healthcare properties.
- Integrated real estate model.
- Commitment to corporate social responsibility.
What Are CDMGF's Weaknesses?
- Negative profit margin.
- Exposure to macroeconomic factors such as interest rates.
- Dependence on the French real estate market.
- Negative P/E ratio.
What Could Drive CDMGF Stock Higher?
- Expansion of healthcare property portfolio.
- Sustainable urban development projects.
- Innovation in real estate products and services.
- Strategic partnerships and acquisitions.
- Capitalizing on the Greater Paris area.
What Are the Key Risks for CDMGF?
- Financial-distress signal — its Altman Z-Score of 0.39 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-3.2%) — the business is not currently generating profit on shareholder capital.
- Economic downturn in France or Europe.
- Rising interest rates.
- Increased competition from other REITs and property developers.
- Changes in government regulations.
- Negative profit margin.
What Are the Growth Opportunities for CDMGF?
- Growth opportunity 1: Expansion of Healthcare Property Portfolio: Icade has the opportunity to further expand its healthcare property portfolio, capitalizing on the increasing demand for healthcare facilities due to aging populations and advancements in medical technology. The healthcare real estate market is projected to grow, offering Icade the potential to increase its revenue and asset base. Timeline: Ongoing.
- Growth opportunity 2: Sustainable Urban Development Projects: Icade can leverage its commitment to corporate social responsibility and sustainable development to secure new projects focused on creating greener, smarter, and more responsible cities. These projects can attract environmentally conscious tenants and investors, enhancing Icade's reputation and market position. Timeline: Ongoing.
- Growth opportunity 3: Innovation in Real Estate Products and Services: Icade can invest in research and development to create innovative real estate products and services that cater to evolving urban lifestyles and habits. This can include smart home technologies, co-living spaces, and flexible office solutions. Timeline: Ongoing.
- Growth opportunity 4: Strategic Partnerships and Acquisitions: Icade can pursue strategic partnerships and acquisitions to expand its geographic reach and diversify its portfolio. This can involve collaborating with other real estate companies or acquiring properties in new markets. Timeline: Ongoing.
- Growth opportunity 5: Capitalizing on the Greater Paris Area: As a significant player in the Greater Paris area, Icade can capitalize on the region's economic growth and urbanization trends to develop new projects and attract tenants. The Greater Paris area offers a stable and attractive market for real estate investment. Timeline: Ongoing.
What Opportunities Does CDMGF Have?
- Expansion of healthcare property portfolio.
- Sustainable urban development projects.
- Innovation in real estate products and services.
- Strategic partnerships and acquisitions.
What Threats Does CDMGF Face?
- Economic downturn in France or Europe.
- Rising interest rates.
- Increased competition from other REITs and property developers.
- Changes in government regulations.
What Are CDMGF's Competitive Advantages?
- Strong presence in the Greater Paris area and major French cities.
- Focus on office and healthcare properties, providing a stable revenue base.
- Commitment to corporate social responsibility and sustainable development.
- Integrated real estate model, combining investment and development capabilities.
What Does CDMGF Do?
Icade S.A., headquartered in Issy-les-Moulineaux, France, is a prominent integrated real estate company that acts as both an investor and a developer. The company designs and develops innovative real estate products and services tailored to evolving urban lifestyles and habits. With a strong emphasis on corporate social responsibility and innovation, Icade collaborates closely with various stakeholders, including local authorities, communities, companies, employees, institutions, and associations. Icade's portfolio includes office and healthcare properties, with a portfolio value of €11.6 billion as of June 30, 2020 (on a proportionate consolidation basis). The company's property development arm generated nearly €1 billion in economic revenues in 2019. Icade is committed to reinventing the real estate business and fostering the development of greener, smarter, and more responsible cities. The company is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC), with the Caisse des dépôts Group as its leading shareholder.
What Products and Services Does CDMGF Offer?
- Invest in office properties.
- Invest in healthcare properties.
- Develop innovative real estate products.
- Provide real estate services.
- Focus on sustainable urban development.
- Operate primarily in the Greater Paris area and major French cities.
How Does CDMGF Make Money?
- Generate revenue from rental income from office and healthcare properties.
- Generate revenue from property development projects.
- Generate revenue from real estate services.
- Focus on long-term value creation through sustainable and responsible investments.
What Industry Does CDMGF Operate In?
Icade S.A. operates within the REIT - Diversified industry, which is influenced by macroeconomic factors such as interest rates, economic growth, and urbanization trends. The competitive landscape includes other REITs and property developers, each vying for market share in key regions like the Greater Paris area. The industry is also increasingly focused on sustainability and responsible urban development, aligning with Icade's strategic priorities. The market is characterized by evolving urban lifestyles and habits, requiring companies to innovate and adapt their real estate offerings.
Who Are CDMGF's Key Customers?
- Companies leasing office spaces.
- Healthcare providers leasing healthcare facilities.
- Individuals and families seeking residential properties.
- Local authorities and communities.
FY2026 estForward Outlook
Wall Street analysts project Icade S.A. revenue of about $307.0M for fiscal 2026, with EPS near $2.64. The estimate reflects 5 contributing analysts.
CDMGF Valuation & Market Position
With a $1.73B market cap, Icade S.A. sits in the small-cap segment of the market.
ROE -3%Key Financial Metrics
Return on equity for Icade S.A. stands at -3.2%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -1.3%, showing how much profit it generates from its asset base. Its free cash flow yield is 8.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.33 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -8.4%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 4/9Financial Health
Icade S.A.'s Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.39 places it in the distress zone, a signal of elevated financial risk.
Company Profile
Icade S.A. operates in the REIT - Diversified industry within the Real Estate sector. It is headquartered in Issy-les-Moulineaux, FR. The company is led by CEO Nicolas Joly. CDMGF has traded publicly since 2011.
CDMGF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Strong market position in the Greater Paris area.
- Diversified portfolio of office and healthcare properties.
- Integrated real estate model.
- Commitment to corporate social responsibility.
Bear Case
- Negative profit margin.
- Exposure to macroeconomic factors such as interest rates.
- Dependence on the French real estate market.
- Negative P/E ratio.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
CDMGF Latest News
No recent news available for CDMGF.
CDMGF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for CDMGF.
Price Targets
Wall Street price target analysis for CDMGF.
CDMGF MoonshotScore
What does this score mean?
The MoonshotScore rates CDMGF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Nicolas Joly
CEO
Nicolas Joly is the CEO of Icade S.A. His background and specific career history are not provided in the available data. However, as the CEO, he is responsible for the overall strategic direction and management of the company. He oversees Icade's operations as an integrated real estate player, focusing on property investment and development.
Track Record: Due to limited information, Nicolas Joly's specific achievements and milestones as CEO of Icade S.A. cannot be detailed. However, as the leader of the company, he is responsible for driving Icade's growth, profitability, and commitment to sustainable urban development.
CDMGF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that Icade S.A. (CDMGF) may not meet the minimum financial or disclosure requirements for higher tiers like OTCQX or OTCQB. Companies in this tier may have limited or no reporting requirements, which increases investment risk compared to companies listed on major exchanges like NYSE or NASDAQ. The lack of stringent listing standards often results in less transparency and potentially higher volatility.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Disclosure: Lack of financial reporting and transparency.
- Low Liquidity: Difficulty in buying or selling shares.
- Price Volatility: Potential for significant price swings.
- Regulatory Scrutiny: Higher risk of regulatory issues due to less oversight.
- Information Asymmetry: Limited access to company information.
- Verify the company's financial statements, if available.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Check for any legal or regulatory issues.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor.
- Determine the source of the company's information disclosure.
- Listing on Euronext Paris as a French Listed Real Estate Investment Company (SIIC).
- Significant portfolio value in office and healthcare properties.
- Commitment to corporate social responsibility and sustainable development.
- Presence in the Greater Paris area and major French cities.
- Leading shareholder is the Caisse des dépôts Group.
Icade S.A. Real Estate Stock: Key Questions Answered
What does Icade S.A. do?
Icade S.A. operates as an integrated real estate company, functioning both as an investor and a developer. It specializes in designing and developing innovative real estate products and services tailored to evolving urban lifestyles, with a focus on office and healthcare properties. The company is committed to corporate social responsibility and sustainable urban development, primarily operating in the Greater Paris area and major French cities.
What are the main risks for CDMGF?
The main risks for Icade S.A. include exposure to macroeconomic factors such as economic downturns in France or Europe and rising interest rates. Increased competition from other REITs and property developers, as well as changes in government regulations, also pose potential risks. The company's negative profit margin and reliance on the French real estate market are additional factors to consider.
What are the key factors to evaluate for CDMGF?
Evaluate CDMGF on fundamentals, analyst consensus, and risk factors. Not financial advice.
How frequently does CDMGF data refresh on this page?
CDMGF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven CDMGF's recent stock price performance?
Icade S.A. (CDMGF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong market position in the Greater Paris area. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider CDMGF overvalued or undervalued right now?
Valuing Icade S.A. (CDMGF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying CDMGF?
Before investing in Icade S.A. (CDMGF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding CDMGF to a portfolio?
Key strength of Icade S.A. (CDMGF): Strong market position in the Greater Paris area. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- OTC data may be limited or delayed.
- Financial data is based on information available as of 2026-03-16.