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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
1.1K+
LTM Revenue $389M
LTM EBITDA $328M
$5.1B
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Icade has a last 12-month revenue of $389M and a last 12-month EBITDA of $328M.
In the most recent fiscal year, Icade achieved revenue of $1.7B and an EBITDA of -$176M.
Icade expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Icade valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.7B | XXX | XXX | XXX |
| Gross Profit | $1.0B | $763M | XXX | XXX | XXX |
| Gross Margin | 58% | 45% | XXX | XXX | XXX |
| EBITDA | -$1.2B | -$176M | XXX | XXX | XXX |
| EBITDA Margin | -67% | -10% | XXX | XXX | XXX |
| Net Profit | $58.1M | -$1.3B | XXX | XXX | XXX |
| Net Margin | 3% | -80% | XXX | XXX | XXX |
| Net Debt | $7.4B | $3.7B | XXX | XXX | XXX |
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As of April 15, 2025, Icade's stock price is EUR 20 (or $21).
Icade has current market cap of EUR 1.5B (or $1.6B), and EV of EUR 4.8B (or $5.1B).
See Icade trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5.1B | $1.6B | XXX | XXX | XXX | XXX | $-1.77 |
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Sign UpAs of April 15, 2025, Icade has market cap of $1.6B and EV of $5.1B.
Icade's trades at 13.2x LTM EV/Revenue multiple, and 15.7x LTM EBITDA.
Analysts estimate Icade's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Icade and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $5.1B | XXX | XXX | XXX |
| EV/Revenue | 3.0x | XXX | XXX | XXX |
| EV/EBITDA | -29.2x | XXX | XXX | XXX |
| P/E | -5.5x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 28.8x | XXX | XXX | XXX |
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Sign UpIcade's NTM/LTM revenue growth is -3%
Icade's revenue per employee for the last fiscal year averaged $1.6M, while opex per employee averaged $0.4M for the same period.
Over next 12 months, Icade's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Icade's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Icade and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -5% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -10% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -85% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -14% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $1.6M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.4M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 26% | XXX | 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 |
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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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Sign Up| 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 1.1K+ 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 $1.6B |
| What is the current revenue of Icade? | Icade's last 12-month revenue is $389M. |
| What is the current EBITDA of Icade? | Icade's last 12-month EBITDA is $328M. |
| What is the current EV/Revenue multiple of Icade? | Current revenue multiple of Icade is 13.2x. |
| What is the current EV/EBITDA multiple of Icade? | Current EBITDA multiple of Icade is 15.7x. |
| What is the current revenue growth of Icade? | Icade revenue growth between 2023 and 2024 was -5%. |
| Is Icade profitable? | Yes, Icade is EBITDA-positive (as of the last 12 months). |
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