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Icade is a French real estate investment trust involved in the ownership and management of commercial property around Paris. The vast majority of Icade's real estate portfolio is split between office and business park properties. Nearly all of these are located in Greater Paris with roughly half residing in the inner and outer rings of the metro area. Icade derives majority of its revenue from its Property Development division through the sale of real estate. Rental income from short- to mid-term leases out of its Property Investment division also represents a substantial revenue stream. Institutional investors, private investors, and buyers represent fairly equal parts of the company's customer orders. Icade also has holdings in healthcare properties outside of the Paris region.
1954
1.0K+
LTM Revenue $422M
LTM EBITDA $337M
$5.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Icade has a last 12-month revenue (LTM) of $422M and a last 12-month EBITDA of $337M.
In the most recent fiscal year, Icade achieved revenue of $1.8B and an EBITDA of -$185M.
Icade expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Icade valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $422M | XXX | $1.8B | XXX | XXX | XXX |
| Gross Profit | $422M | XXX | $699M | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 40% | XXX | XXX | XXX |
| EBITDA | $337M | XXX | -$185M | XXX | XXX | XXX |
| EBITDA Margin | 80% | XXX | -10% | XXX | XXX | XXX |
| EBIT | $320M | XXX | $238M | XXX | XXX | XXX |
| EBIT Margin | 76% | XXX | 13% | XXX | XXX | XXX |
| Net Profit | -$86.7M | XXX | -$310M | XXX | XXX | XXX |
| Net Margin | -21% | XXX | -18% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $3.9B | XXX | XXX | XXX |
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As of May 30, 2025, Icade's stock price is EUR 24 (or $27).
Icade has current market cap of EUR 1.8B (or $2.1B), and EV of EUR 5.1B (or $5.7B).
See Icade trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5.7B | $2.1B | XXX | XXX | XXX | XXX | $-0.82 |
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Start Free TrialAs of May 30, 2025, Icade has market cap of $2.1B and EV of $5.7B.
Icade's trades at 3.3x EV/Revenue multiple, and -31.1x EV/EBITDA.
Equity research analysts estimate Icade's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Icade has a P/E ratio of -23.7x.
See valuation multiples for Icade and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2.1B | XXX | $2.1B | XXX | XXX | XXX |
| EV (current) | $5.7B | XXX | $5.7B | XXX | XXX | XXX |
| EV/Revenue | 13.6x | XXX | 3.3x | XXX | XXX | XXX |
| EV/EBITDA | 17.0x | XXX | -31.1x | XXX | XXX | XXX |
| EV/EBIT | 18.0x | XXX | 24.1x | XXX | XXX | XXX |
| EV/Gross Profit | 13.6x | XXX | n/a | XXX | XXX | XXX |
| P/E | -23.7x | XXX | -6.6x | XXX | XXX | XXX |
| EV/FCF | 13.9x | XXX | 30.8x | XXX | XXX | XXX |
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Start Free TrialIcade's last 12 month revenue growth is 4%
Icade's revenue per employee in the last FY averaged $1.7M, while opex per employee averaged $0.5M for the same period.
Icade's rule of 40 is -64% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Icade's rule of X is 89% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Icade and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | -50% | XXX | XXX | XXX |
| EBITDA Margin | 80% | XXX | -10% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | -64% | XXX | -7% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 89% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $1.7M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.5M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 26% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Investcorp Capital | XXX | XXX | XXX | XXX | XXX | XXX |
| Waha Capital | XXX | XXX | XXX | XXX | XXX | XXX |
| ASR Nederland | XXX | XXX | XXX | XXX | XXX | XXX |
| CVC Capital Partners | XXX | XXX | XXX | XXX | XXX | XXX |
| Eurocommercial Props | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Icade acquired XXX companies to date.
Last acquisition by Icade was XXXXXXXX, XXXXX XXXXX XXXXXX . Icade acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Icade founded? | Icade was founded in 1954. |
| Where is Icade headquartered? | Icade is headquartered in France. |
| How many employees does Icade have? | As of today, Icade has 1.0K+ employees. |
| Is Icade publicy listed? | Yes, Icade is a public company listed on PAR. |
| What is the stock symbol of Icade? | Icade trades under ICAD ticker. |
| When did Icade go public? | Icade went public in 2000. |
| Who are competitors of Icade? | Similar companies to Icade include e.g. Investcorp Capital, Waha Capital, ASR Nederland, CVC Capital Partners. |
| What is the current market cap of Icade? | Icade's current market cap is $2.1B |
| What is the current revenue of Icade? | Icade's last 12 months revenue is $422M. |
| What is the current revenue growth of Icade? | Icade revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Icade? | Current revenue multiple of Icade is 13.6x. |
| Is Icade profitable? | Yes, Icade is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Icade? | Icade's last 12 months EBITDA is $337M. |
| What is Icade's EBITDA margin? | Icade's last 12 months EBITDA margin is 80%. |
| What is the current EV/EBITDA multiple of Icade? | Current EBITDA multiple of Icade is 17.0x. |
| What is the current FCF of Icade? | Icade's last 12 months FCF is $415M. |
| What is Icade's FCF margin? | Icade's last 12 months FCF margin is 98%. |
| What is the current EV/FCF multiple of Icade? | Current FCF multiple of Icade is 13.9x. |
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