Covivio (COV.PA) stock analysis

In our weekly check, Covivio is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 6, red flags: 6.

About Covivio

Covivio is a Real Estate company (REIT - Diversified) based in France, listed on PAR as COV.PA.

What our checks show for COV.PA

Red flags

• Net debt is 6.7x a year of EBITDA (debt/equity 1.22). That limits room in a downturn and raises refinancing risk.
• The net margin fell by 17.6 points over 5 years, to 69.5%: the company keeps less of each sale as profit.
• Analysts expect revenue to shrink about 10.6% a year.
• Revenue fell 4.1% a year over the last 3 years.
• The stock has fallen as much as 76% from a peak. Would you have held through that?
• Return on capital (ROCE) is only 4.2%.

Warning signs

• Operating profit covers interest only 2.6 times: a weak year could make the payments hard.
• Analysts expect earnings per share to shrink about 8.1% a year.
• Free cash flow covers the dividend only 0.4 times.
• The stock is still below its previous peak.
• The share count grew by 13.6% in 2 years: each shareholder owns a smaller slice.
• Thinly traded (about 146 thousand shares a day): buying and selling can move the price.

Strengths

• The gross margin is 87.3% and has risen by 11.9 points: pricing power is holding.
• Analysts expect the net margin to improve by 5.6 points from today's 69.5%.
• The company keeps 69.5% of its revenue as net profit.
• Free cash flow is 12.1% of revenue: cash for dividends, buybacks or growth.
• The price is 7.4 times earnings (P/E), reasonable for its growth.
• Pay in shares is only 5.4% of free cash flow.

Similar companies

RITM · BLND.L · LAND.L · EPRT · JAN

Questions

What grade does Covivio (COV.PA) have?

In our weekly check, Covivio is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 6, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of COV.PA stock?

This week's biggest flags for Covivio: High debt, Margins falling, Weak revenue forecast. In total 12 of 25 checks show a warning or a red flag.

What does Covivio do?

Covivio is a Real Estate company (REIT - Diversified) based in France, listed on PAR as COV.PA.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

Open the full analysis