Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Instone Real Estate Group SE is a Germany-based real estate developer specializing in residential properties. Founded in 1991 and headquartered in Essen, the company develops a diverse portfolio including residential and multi-family buildings, apartment complexes, publicly subsidized housing, and contemporary urban districts. It also renovates listed buildings for residential use, sells and rents residential quarters with apartments, and engages in the construction, development, management, sale, and leasing of properties through subsidiaries like Instone Real Estate Development GmbH. Operating primarily in Germany with some presence in the rest of Europe, Instone Real Estate Group SE employs 338 people and focuses on the housing projects sector. As one of the leading residential developers in the country, it plays a significant role in addressing housing needs by creating attractive living spaces and strengthening urban development initiatives. The company is listed in the Prime Standard segment of the Frankfurt Stock Exchange and the SDAX index, underscoring its prominence in the real estate operations industry.
Operating margin is thin at 7.39%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 6.6% YoY. Margins deteriorated 3.7pp alongside, both lines moving the wrong way.
Free cash flow declined 115% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -€15M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€386M
▼ -6.6% YoY
Net Income (TTM)
€52M
▲ +44.0% YoY
Op. Margin
9.90%
▼ -3.7pp YoY
ROIC
2.10%
▼ -1.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€4M
▼ -114.5% YoY
Op. Cash Flow (TTM)
€55M
▼ -53.2% YoY
Net Debt
€259M
Cash & Equiv.
€242M
3Y CAGR: -10.6%
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