Equity Brief · Real Estate2026-10-27
NXI.PA·Real Estate

Nexity SA

I · AI Analysis

The brief

Nexity develops residential properties, office buildings, business parks, logistics platforms, and commercial real estate across Europe [Yahoo Finance]. It also manages properties and operates student residences and coworking spaces [Yahoo Finance]. The company serves individual buyers, businesses, and local governments [Yahoo Finance].

Nexity SA is a French real estate developer facing severe headwinds: revenue fell 17% over nine months amid rising interest rates, and the company does not expect a recovery before 2029-2030 [Batiactu]. Trailing twelve-month figures through 30 June 2026 show negative operating and net margins, a health score of 2.6/10, and an Altman Z-score of 0.6 — a level signaling distress [Sentinellis calculation]. The company's shares dropped 3.8% following its Q3 earnings call [Investing.com].

Nexity is in financial distress, with negative margins, high leverage, and no near-term recovery expected.

The brief AI analysisConfidence 6/10

Sentinellis health

Significant risks

2.6/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score3.3/10
Net margin-6.8%· need ≥ 8.8%, the lower third of real estate in our libraryGross margin+29.1%

Returns on capital

16% of score0.0/10
ROIC-3.7%· need > 10%Return on equity-11.1%· need > 12%

Growth & momentum

11% of score0.0/10
Revenue growth-18.3%· need ≥ 0%, the lower third of real estate in our libraryOperating margin trend—· no data

Balance sheet

32% of score1.7/10
Current ratio1.2x· need > 1.2xNet debt / EBITDA16.8x· need < 7.5xInterest coverage-1.8x· need > 2.4xDebt / equity1.16

Cash generation

16% of score10.0/10
Free cash flowEUR 177.4MCash vs reported profitEUR 222.5M vs EUR -188.4M

Value creation

11% of score0.0/10
ROIC vs cost of capital-7.3pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 238.3M

Revenue (TTM)

EUR 2.6B

Explainers

How we read these numbers

Plain-English guides · no account needed

II · Recent news

What moved

6 stories · ranked by relevance

  • Company2026-10-22

    Earnings call transcript: Nexity Q3 2026 revenue falls as shares slip 3.8% - Investing.com

    Investing.com

  • Company2026-10-23

    Nexity: Revenue Down 17% Over Nine Months, 2026 Guidance Confirmed - Ideal Investisseur

    Ideal Investisseur

  • Company2026-10-23

    Nexity : chiffre d'affaires en baisse de 17 % sur neuf mois, guidance 2026 confirmée - Idéal Investisseur

    Idéal Investisseur

  • Company2026-10-22

    Immobilier : La hausse des taux fait chuter les ventes de Nexity de 17% - MySweetImmo

    MySweetImmo

  • Company2026-10-23

    "Nous n'attendons pas de reprise avant 2029-2030", V. Bédague (Nexity) - Batiactu

    Batiactu

  • Sector2026-10-23

    Promotion immobilière : à la bagarre pour la place de leader du marché, Nexity et Altarea prônent la prudence - Le Moniteur

    Le Moniteur

Premium · Free with any account

Nexity's management does not expect a recovery in the French real estate market before 2029-2030, meaning years of depressed demand ahead [Batiactu].

1 of 5 risks in this report

Risks

5

Opportunities

3

Red flags

4

Leadership

8

11 more findings in the full report — free with any account.

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III · Related

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Produced 27 Oct 2026, 10:59 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated