Stock COFB COFINIMMO
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Financials Cofinimmo

Equities

COFB

BE0003593044

Specialized REITs

Market Closed - Euronext Bruxelles
Other stock markets
 11:35:14 2024-04-26 am EDT 		5-day change 1st Jan Change
62 EUR +0.81% Intraday chart for Cofinimmo -0.64% -13.17%
Apr. 26 Cofinimmo SA Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Feb. 23 Cofinimmo SA Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,379 3,291 4,448 2,697 2,623 2,278 - -
Enterprise Value (EV) 1 5,092 5,525 6,996 5,558 5,348 5,076 4,922 4,835
P/E ratio 15.7 x 27.1 x 16 x 5.55 x -43.8 x 14.5 x 11 x 15.4 x
Yield 4.27% 4.76% 4.27% 7.41% 8.68% 9.93% 9.89% 9.84%
Capitalization / Revenue 14.5 x 13.1 x 14.9 x 8.27 x 7.42 x 6.43 x 6.25 x 6.09 x
EV / Revenue 21.9 x 22 x 23.4 x 17 x 15.1 x 14.3 x 13.5 x 12.9 x
EV / EBITDA 26.1 x 26.1 x 28.8 x 21.4 x - 17.8 x 16.6 x 16 x
EV / FCF 30.2 x 31.1 x 60.1 x 58.5 x - 17.9 x 16.9 x 16.2 x
FCF Yield 3.31% 3.21% 1.66% 1.71% - 5.6% 5.91% 6.18%
Price to Book 1.38 x 1.28 x 1.38 x 0.76 x 0.72 x 0.65 x 0.62 x 0.61 x
Nbr of stocks (in thousands) 25,796 27,017 31,656 32,220 36,743 36,743 - -
Reference price 2 131.0 121.8 140.5 83.70 71.40 62.00 62.00 62.00
Announcement Date 2/13/20 2/25/21 2/24/22 2/17/23 2/23/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 233 251.5 299 326 353.4 354.2 364.4 374.4
EBITDA 1 194.7 212.1 242.7 260.3 - 285.9 295.7 302.9
EBIT 1 194 211.1 241 257 277.7 291.9 296.8 302.8
Operating Margin 83.26% 83.93% 80.6% 78.83% 78.58% 82.41% 81.47% 80.89%
Earnings before Tax (EBT) 1 215.7 125.9 275.5 494.1 -47.99 80 304 -
Net income 1 205 119.2 260 483 -55.5 145.6 289.5 263.2
Net margin 87.98% 47.4% 86.96% 148.16% -15.7% 41.12% 79.47% 70.31%
EPS 2 8.370 4.500 8.780 15.09 -1.630 4.269 5.641 4.016
Free Cash Flow 1 168.7 177.6 116.4 95.01 - 284 291 299
FCF margin 72.41% 70.62% 38.94% 29.14% - 80.18% 79.87% 79.87%
FCF Conversion (EBITDA) 86.64% 83.75% 47.96% 36.51% - 99.33% 98.42% 98.72%
FCF Conversion (Net income) 82.3% 148.99% 44.78% 19.67% - 195% 100.5% 113.59%
Dividend per Share 2 5.600 5.800 6.000 6.200 6.200 6.159 6.130 6.100
Announcement Date 2/13/20 2/25/21 2/24/22 2/17/23 2/23/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 125.6 141.8 82.04 76.38 78.61 80.64 90.37 83.91 - - 91.3 - - - - -
EBITDA 1 - 117.3 61.4 60.47 - 68.47 - - - - - 73.9 74.91 70.25 70.18 78.13
EBIT - - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - -
Net income - - 91.43 167 157.6 148.3 10.08 17 9.644 11.41 - - - - - -
Net margin - - 111.45% 218.63% 200.45% 183.96% 11.16% 20.26% - - - - - - - -
EPS 2 - - 2.960 5.280 4.950 4.590 0.2700 0.5300 0.2600 0.3700 -2.790 0.1089 0.1498 -0.2216 0.3888 0.4333
Dividend per Share 2 - - 6.000 - - - 6.200 - - - 6.200 - - 6.200 - -
Announcement Date 7/30/20 7/28/21 2/24/22 4/29/22 7/29/22 10/28/22 2/17/23 4/28/23 7/28/23 10/27/23 2/23/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,713 2,235 2,548 2,861 2,725 2,798 2,643 2,557
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.796 x 10.54 x 10.5 x 10.99 x - 9.785 x 8.94 x 8.442 x
Free Cash Flow 1 169 178 116 95 - 284 291 299
ROE (net income / shareholders' equity) 7.35% 7.22% 7.3% 6.48% 6.63% 6.71% 6.87% 6.79%
ROA (Net income/ Total Assets) 3.88% 3.7% 3.71% 3.43% 3.57% 3.55% 3.63% 3.51%
Assets 1 5,282 3,223 7,009 14,090 -1,556 4,103 7,969 7,491
Book Value Per Share 2 95.00 95.30 102.0 111.0 98.60 95.00 99.60 101.0
Cash Flow per Share 2 6.920 6.290 6.760 6.460 - 6.450 7.080 -
Capex 1 - 189 84 115 - 255 51 -
Capex / Sales - 75.34% 28.1% 35.4% - 71.89% 14.01% -
Announcement Date 2/13/20 2/25/21 2/24/22 2/17/23 2/23/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cofinimmo

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
62 EUR
Average target price
72.39 EUR
Spread / Average Target
+16.75%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Healthcare REITs
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