(CDA) Compagnie des Alpes S.A. - Overview
Stock: Ski Areas, Leisure Parks, Tour Operators, Real Estate
Dividends
| Dividend Yield | 6.66% |
| Yield on Cost 5y | 9.06% |
| Yield CAGR 5y | 9.76% |
| Payout Consistency | 78.8% |
| Payout Ratio | 47.9% |
| Risk 5d forecast | |
|---|---|
| Volatility | 22.5% |
| Relative Tail Risk | -7.31% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.14 |
| Alpha | 72.49 |
| Character TTM | |
|---|---|
| Beta | 0.077 |
| Beta Downside | 0.226 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.48% |
| CAGR/Max DD | 1.45 |
Description: CDA Compagnie des Alpes S.A. January 20, 2026
Compagnie des Alpes S.A. (PA:CDA) runs a diversified portfolio of leisure assets across four segments: Ski Areas (operating lifts, slopes, and ski-resort services), Leisure Parks (amusement, animal, water parks, wax museums and tourist sites), Distribution & Hospitality (tour-operator and real-estate services), and Holdings & Support Activities. The group was founded in 1989 and is headquartered in Paris, France.
In 2023 the company generated €2.3 billion of revenue, with the Ski Areas segment contributing roughly 55 % and Leisure Parks delivering a 7 % year-on-year increase in visitor numbers, driven by the launch of new attractions at Parc Asterix and Walibi Rhine-Ruin. Adjusted EBITDA margin hovered around 22 %, reflecting strong operating leverage in both ski and park operations.
Key economic drivers include discretionary consumer spending on tourism, the health of the European middle class, and climate-related risk to snow reliability, which the firm mitigates through snow-making capacity (averaging 90 % coverage at its major resorts) and diversification into year-round attractions. Macro-level trends such as rising demand for experiential travel and the shift toward domestic tourism in post-pandemic Europe also underpin growth prospects.
For a deeper, data-driven assessment of CDA’s valuation dynamics, you may find the analyst tools on ValueRay worth exploring.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 199.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -5.05 > 1.0 |
| NWC/Revenue: -14.85% < 20% (prev -27.78%; Δ 12.93% < -1%) |
| CFO/TA 0.20 > 3% & CFO 635.1m > Net Income 199.1m |
| Net Debt (790.7m) to EBITDA (947.5m): 0.83 < 3 |
| Current Ratio: 0.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (50.9m) vs 12m ago -0.37% < -2% |
| Gross Margin: 69.66% > 18% (prev 0.14%; Δ 6952 % > 0.5%) |
| Asset Turnover: 91.32% > 50% (prev 60.77%; Δ 30.55% > 0%) |
| Interest Coverage Ratio: 6.64 > 6 (EBITDA TTM 947.5m / Interest Expense TTM 69.8m) |
Altman Z'' 0.97
| A: -0.12 (Total Current Assets 451.4m - Total Current Liabilities 842.9m) / Total Assets 3.24b |
| B: 0.04 (Retained Earnings 134.3m / Total Assets 3.24b) |
| C: 0.16 (EBIT TTM 463.1m / Avg Total Assets 2.89b) |
| D: 0.52 (Book Value of Equity 1.09b / Total Liabilities 2.08b) |
| Altman-Z'' Score: 0.97 = BB |
Beneish M -3.73
| DSRI: 0.55 (Receivables 33.6m/35.7m, Revenue 2.64b/1.54b) |
| GMI: 0.21 (GM 69.66% / 14.49%) |
| AQI: 1.03 (AQ_t 0.22 / AQ_t-1 0.22) |
| SGI: 1.71 (Revenue 2.64b / 1.54b) |
| TATA: -0.13 (NI 199.1m - CFO 635.1m) / TA 3.24b) |
| Beneish M-Score: -3.73 (Cap -4..+1) = AAA |
What is the price of CDA shares?
Over the past week, the price has changed by +0.94%, over one month by +5.69%, over three months by +35.16% and over the past year by +75.95%.
Is CDA a buy, sell or hold?
What are the forecasts/targets for the CDA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 28.5 | 5.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 36.6 | 35.8% |
CDA Fundamental Data Overview February 09, 2026
P/E Trailing = 12.8947
P/E Forward = 10.3306
P/S = 0.9779
P/B = 1.2503
Revenue TTM = 2.64b EUR
EBIT TTM = 463.1m EUR
EBITDA TTM = 947.5m EUR
Long Term Debt = 635.5m EUR (from longTermDebt, last quarter)
Short Term Debt = 315.8m EUR (from shortLongTermDebt, last quarter)
Debt = 1.33b EUR (from shortLongTermDebtTotal, two quarters ago)
Net Debt = 790.7m EUR (from netDebt column, last quarter)
Enterprise Value = 2.54b EUR (1.37b + Debt 1.33b - CCE 160.6m)
Interest Coverage Ratio = 6.64 (Ebit TTM 463.1m / Interest Expense TTM 69.8m)
EV/FCF = -110.8x (Enterprise Value 2.54b / FCF TTM -22.9m)
FCF Yield = -0.90% (FCF TTM -22.9m / Enterprise Value 2.54b)
FCF Margin = -0.87% (FCF TTM -22.9m / Revenue TTM 2.64b)
Net Margin = 7.55% (Net Income TTM 199.1m / Revenue TTM 2.64b)
Gross Margin = 69.66% ((Revenue TTM 2.64b - Cost of Revenue TTM 799.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 32.38%)
Tobins Q-Ratio = 0.78 (Enterprise Value 2.54b / Total Assets 3.24b)
Interest Expense / Debt = 1.95% (Interest Expense 25.9m / Debt 1.33b)
Taxrate = 26.72% (39.3m / 147.1m)
NOPAT = 339.4m (EBIT 463.1m * (1 - 26.72%))
Current Ratio = 0.54 (Total Current Assets 451.4m / Total Current Liabilities 842.9m)
Debt / Equity = 1.22 (Debt 1.33b / totalStockholderEquity, last quarter 1.09b)
Debt / EBITDA = 0.83 (Net Debt 790.7m / EBITDA 947.5m)
Debt / FCF = -34.56 (negative FCF - burning cash) (Net Debt 790.7m / FCF TTM -22.9m)
Total Stockholder Equity = 1.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.89% (Net Income 199.1m / Total Assets 3.24b)
RoE = 18.35% (Net Income TTM 199.1m / Total Stockholder Equity 1.09b)
RoCE = 26.91% (EBIT 463.1m / Capital Employed (Equity 1.09b + L.T.Debt 635.5m))
RoIC = 17.28% (NOPAT 339.4m / Invested Capital 1.96b)
WACC = 3.85% (E(1.37b)/V(2.70b) * Re(6.20%) + D(1.33b)/V(2.70b) * Rd(1.95%) * (1-Tc(0.27)))
Discount Rate = 6.20% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.18%
Fair Price DCF = unknown (Cash Flow -22.9m)
EPS Correlation: -25.53 | EPS CAGR: -27.93% | SUE: 0.0 | # QB: 0
Revenue Correlation: 75.17 | Revenue CAGR: 255.7% | SUE: N/A | # QB: 0
EPS current Year (2026-09-30): EPS=2.51 | Chg30d=-0.002 | Revisions Net=+0 | Growth EPS=+0.0% | Growth Revenue=+6.3%
EPS next Year (2027-09-30): EPS=2.57 | Chg30d=-0.034 | Revisions Net=+1 | Growth EPS=+2.1% | Growth Revenue=+2.9%