Icade SA Net Assets
Icade SA net assets. Based on the latest financial reports, Icade SA (ICAD) has net assets worth €3.58 Billion EUR (≈ $4.18 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€8.95 Billion ≈ $10.46 Billion USD) and total liabilities (€5.37 Billion ≈ $6.28 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore ICAD net assets growth trend to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €3.58 Billion |
| % of Total Assets | 39.96% |
| Annual Growth Rate | 17.67% |
| 5-Year Change | -54.84% |
| 10-Year Change | -4.85% |
| Growth Volatility | 63.35 |
Net Assets of Icade SA (2000–2025)
Net assets of Icade SA from 2000 to 2025. This chart illustrates how Icade SA's net assets have evolved over time, based on quarterly financial data. See ICAD net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Icade SA (2000–2025)
The table below shows the annual net assets of Icade SA from 2000 to 2025. For live market cap and overall valuation, see Icade SA market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €3.90 Billion ≈ $4.56 Billion |
-10.60% |
| 2024-12-31 | €4.36 Billion ≈ $5.10 Billion |
-13.89% |
| 2023-12-31 | €5.07 Billion ≈ $5.92 Billion |
-41.65% |
| 2022-12-31 | €8.68 Billion ≈ $10.15 Billion |
+0.52% |
| 2021-12-31 | €8.64 Billion ≈ $10.10 Billion |
+5.92% |
| 2020-12-31 | €8.16 Billion ≈ $9.54 Billion |
+99.19% |
| 2019-12-31 | €4.09 Billion ≈ $4.79 Billion |
+4.02% |
| 2018-12-31 | €3.94 Billion ≈ $4.60 Billion |
-4.62% |
| 2017-12-31 | €4.13 Billion ≈ $4.83 Billion |
+0.66% |
| 2016-12-31 | €4.10 Billion ≈ $4.79 Billion |
-3.92% |
| 2015-12-31 | €4.27 Billion ≈ $4.99 Billion |
-5.80% |
| 2014-12-31 | €4.53 Billion ≈ $5.30 Billion |
-1.09% |
| 2013-12-31 | €4.58 Billion ≈ $5.35 Billion |
+54.54% |
| 2012-12-31 | €2.96 Billion ≈ $3.46 Billion |
+8.16% |
| 2011-12-31 | €2.74 Billion ≈ $3.20 Billion |
-3.32% |
| 2010-12-31 | €2.83 Billion ≈ $3.31 Billion |
+55.68% |
| 2009-12-31 | €1.82 Billion ≈ $2.13 Billion |
+23.08% |
| 2008-12-31 | €1.48 Billion ≈ $1.73 Billion |
+3.57% |
| 2007-12-31 | €1.43 Billion ≈ $1.67 Billion |
-20.05% |
| 2006-12-31 | €1.79 Billion ≈ $2.09 Billion |
+53.84% |
| 2005-12-31 | €1.16 Billion ≈ $1.36 Billion |
-5.44% |
| 2004-12-31 | €1.23 Billion ≈ $1.44 Billion |
+246.12% |
| 2003-12-31 | €354.76 Million ≈ $414.76 Million |
+168.66% |
| 2002-12-31 | €132.05 Million ≈ $154.38 Million |
+0.09% |
| 2001-12-31 | €131.94 Million ≈ $154.25 Million |
+97.53% |
| 2000-12-31 | €66.79 Million ≈ $78.09 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Icade SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 2081.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Icade SA Net Assets Breakdown (December 2025)
Icade SA net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | €116.20 Million | 3.00% |
| Other Components | €3.88 Billion | 100.18% |
| Total Equity | €3.88 Billion | 100.00% |
Icade SA Competitors by Market Cap
The table below lists competitors of Icade SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shunsin Technology Holdings Ltd
TW:6451
|
$1.10 Billion |
|
Meren Energy
ST:MER
|
$1.10 Billion |
|
Platinum Asset Management Ltd
AU:PTM
|
$1.10 Billion |
|
China Express Airlines Co Ltd Class A
SHE:002928
|
$1.10 Billion |
|
Norbit ASA
OL:NORBT
|
$1.10 Billion |
|
Qingdao Port International Co. Ltd
F:0QP
|
$1.10 Billion |
|
Wuhan East Lake High Technology Group Co Ltd
SHG:600133
|
$1.10 Billion |
|
Jiangsu Hengshun Vinegar-Industry Co Ltd
SHG:600305
|
$1.10 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Icade SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,323,400,000 to 3,877,300,000, a change of -446,100,000 (-10.3%).
- Net loss of 123,000,000 reduced equity.
- Dividend payments of 326,700,000 reduced retained earnings.
- Share repurchases of 1,100,000 reduced equity.
- New share issuances of 1,100,000 increased equity.
- Other comprehensive income decreased equity by 2,127,600,000.
- Other factors increased equity by 2,131,200,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-123.00 Million | -3.17% |
| Dividends Paid | €326.70 Million | -8.43% |
| Share Repurchases | €1.10 Million | -0.03% |
| Share Issuances | €1.10 Million | +0.03% |
| Other Comprehensive Income | €-2.13 Billion | -54.87% |
| Other Changes | €2.13 Billion | +54.97% |
| Total Change | €- | -10.32% |
Book Value vs Market Value Analysis
This analysis compares Icade SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.29x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | €41.49 | €14.68 | x |
| 2005-12-31 | €28.25 | €14.68 | x |
| 2006-12-31 | €39.39 | €14.68 | x |
| 2007-12-31 | €30.05 | €14.68 | x |
| 2008-12-31 | €30.13 | €14.68 | x |
| 2009-12-31 | €37.11 | €14.68 | x |
| 2010-12-31 | €55.55 | €14.68 | x |
| 2011-12-31 | €52.97 | €14.68 | x |
| 2012-12-31 | €51.22 | €14.68 | x |
| 2013-12-31 | €68.47 | €14.68 | x |
| 2014-12-31 | €54.82 | €14.68 | x |
| 2015-12-31 | €48.72 | €14.68 | x |
| 2016-12-31 | €46.52 | €14.68 | x |
| 2017-12-31 | €45.33 | €14.68 | x |
| 2018-12-31 | €42.98 | €14.68 | x |
| 2019-12-31 | €42.81 | €14.68 | x |
| 2020-12-31 | €87.36 | €14.68 | x |
| 2021-12-31 | €89.52 | €14.68 | x |
| 2022-12-31 | €86.89 | €14.68 | x |
| 2023-12-31 | €65.81 | €14.68 | x |
| 2024-12-31 | €57.06 | €14.68 | x |
| 2025-12-31 | €51.13 | €14.68 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Icade SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.17%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.49%
- • Asset Turnover: 0.15x
- • Equity Multiplier: 2.47x
- Recent ROE (-3.17%) is below the historical average (5.67%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 9.37% | 13.66% | 0.16x | 4.41x | €-420.60K |
| 2001 | 5.58% | 13.09% | 0.16x | 2.66x | €-5.81 Million |
| 2002 | 6.15% | 12.71% | 0.16x | 2.95x | €-5.06 Million |
| 2003 | 1.79% | 9.16% | 0.10x | 1.88x | €-29.08 Million |
| 2004 | 6.73% | 6.06% | 0.30x | 3.67x | €-29.24 Million |
| 2005 | 7.47% | 6.00% | 0.34x | 3.64x | €-24.00 Million |
| 2006 | 14.17% | 16.99% | 0.30x | 2.82x | €66.33 Million |
| 2007 | 2.60% | 2.46% | 0.28x | 3.79x | €-105.08 Million |
| 2008 | 21.27% | 19.35% | 0.26x | 4.19x | €165.61 Million |
| 2009 | 29.12% | 35.01% | 0.25x | 3.31x | €346.11 Million |
| 2010 | 42.99% | 85.07% | 0.20x | 2.52x | €934.68 Million |
| 2011 | 3.40% | 6.23% | 0.20x | 2.66x | €-180.83 Million |
| 2012 | 1.94% | 3.43% | 0.19x | 2.94x | €-213.79 Million |
| 2013 | 3.04% | 8.71% | 0.14x | 2.47x | €-289.86 Million |
| 2014 | 3.75% | 8.78% | 0.17x | 2.52x | €-252.73 Million |
| 2015 | -5.21% | -13.07% | 0.14x | 2.84x | €-546.35 Million |
| 2016 | 1.30% | 3.01% | 0.15x | 2.92x | €-298.82 Million |
| 2017 | 5.08% | 10.30% | 0.15x | 3.37x | €-165.00 Million |
| 2018 | 4.86% | 8.74% | 0.15x | 3.69x | €-163.62 Million |
| 2019 | 9.47% | 19.70% | 0.12x | 3.95x | €-16.67 Million |
| 2020 | 0.37% | 1.68% | 0.08x | 2.66x | €-622.21 Million |
| 2021 | 5.95% | 24.09% | 0.09x | 2.62x | €-272.08 Million |
| 2022 | 0.82% | 3.45% | 0.09x | 2.77x | €-604.69 Million |
| 2023 | -25.08% | -81.85% | 0.13x | 2.33x | €-1.75 Billion |
| 2024 | -6.38% | -19.01% | 0.14x | 2.43x | €-708.24 Million |
| 2025 | -3.17% | -8.49% | 0.15x | 2.47x | €-510.73 Million |
Industry Comparison
This section compares Icade SA's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $2,688,222,000
- Average return on equity (ROE) among peers: 6.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Icade SA (ICAD) | €3.58 Billion | 9.37% | 1.50x | $1.10 Billion |
| Soc Centrale Bois Scieries Manche SA (CBSM) | $130.82 Million | 6.22% | 1.52x | $128.95 Million |
| Covivio SA (COV) | $10.17 Billion | 8.99% | 1.14x | $5.69 Billion |
| Immobiliere Dassault SA (IMDA) | $355.05 Million | 8.03% | 0.41x | $333.84 Million |
| Groupe Partouche SA (PAR) | $99.36 Million | 1.09% | 0.87x | $36.67 Million |
About Icade SA
Icade is a real estate player that strives to make cities more pleasant places to live for everyone. Icade combines expertise in property investment (portfolio worth 6.1bn euros as of 12/31/2025 100% + Group share of joint ventures) and property development (2025 economic revenue of 1.1bn pounds), supporting clients, elected officials and partners throughout France in building the city of tomorro… Read more