AtenorFRA:Z5S -3.23%39 Days Payable is 81.35 as of Dec. 2025, which is 56% below its 10-year median of 185.32. GuruFocus rates FRA:Z5S with a GF Score™ of 39/100 and a GF Value™ of €1.76 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,572 Real Estate companies, Atenor ranks better than 50% on this metric.
Atenor's average Accounts Payable for the
six
months ended in Dec. 2025 was €46.8 Mil. Atenor's Cost of Goods Sold for the
six
months ended in Dec. 2025 was €105.0 Mil.
Hence, Atenor's Days Payable for the
six
months ended in Dec. 2025 was 81.35.
The historical rank and industry rank for Atenor's Days Payable or its related term are showing as below:
FRA:Z5S'
s Days Payable Range Over the Past 10 Years
Min: 43.84 Med: 185.32 Max: 618.3
Current: 94.03
During the past 13 years, Atenor's highest Days Payable was 618.30. The lowest was 43.84. And the median was 185.32.
FRA:Z5S's Days Payable is ranked better than 50% of 1572
companies
in the Real Estate industry
Industry Median: 93.66
vs FRA:Z5S: 94.03
Atenor's Days Payable
increased
from Dec. 2024 (66.21) to Dec. 2025 (81.35).
It may suggest that Atenordelayed paying its suppliers.
Atenor Days Payable Related Terms
Atenor Days Payable Historical Data
* Premium members only.
The historical data trend for Atenor's Days Payable can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Real Estate - Development subindustry, Atenor's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Atenor Days Payable vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Atenor's Days Payable distribution charts can be found below:
* The bar in red indicates where Atenor's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
Atenor's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Atenor (FRA:Z5S) has a Days Payable of 81.35 as of Dec. 2025. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Atenor and its competitors. This is 56% below median its historical median of 185.32. Over the past decade, Atenor's Days Payable has ranged from 43.84 to 618.30. According to the industry distribution chart, Atenor ranks #786 out of 1572 companies in the Real Estate industry, placing it in the top 50%.
Is Atenor's Days Payable too high?
Atenor's current Days Payable of 81.35 is 56% below median its 10-year median of 185.32. Over the past 10 years, this metric has ranged from a low of 43.84 to a high of 618.30. The Real Estate industry median Days Payable is 93.66. Atenor's value of 81.35 is 13.1% below this industry median. Based on the distribution chart, Atenor ranks #786 out of 1572 companies in the Real Estate industry, which is above the industry midpoint. Overall, Atenor has a GF Score™ of 39/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Atenor's Days Payable compare to competitors?
According to the Real Estate industry distribution chart, Atenor ranks #786 out of 1572 companies for Days Payable. This puts Atenor in the upper half of its industry. The industry median Days Payable is 93.66. Atenor's value of 81.35 is 13.1% below this benchmark. Historically, Atenor's own Days Payable has ranged from 43.84 to 618.30 over the past decade. While the company's 10-year median is 185.32 vs. the industry median of 93.66, Atenor has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a Real Estate company?
The median Days Payable among Real Estate companies is 93.66, based on 1,572 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Atenor's current Days Payable of 81.35 is 13.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Atenor and its competitors. For the Real Estate industry, the median Days Payable is 93.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atenor's current Days Payable is 81.35, which is 56% below median its own 10-year median of 185.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atenor stock overvalued right now?
Based on GuruFocus' analysis, Atenor (FRA:Z5S) is currently considered Modestly Undervalued. The stock's GF Value™ is €1.76, compared to a current price of €1.50 — trading 14.8% below its estimated fair value. The current Days Payable is 81.35, which is 56% below median its 10-year median of 185.32 and 13.1% below the Real Estate industry median of 93.66. Atenor's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Atenor (FRA:Z5S), the current Days Payable is 81.35 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Atenor (FRA:Z5S) Overvalued in 2026?
Based on GuruFocus' analysis, Atenor stock appears to be undervalued.
The current stock price of €1.50 is trading 14.8% below its estimated GF Value™ of €1.76.
GuruFocus considers Atenor to be Modestly Undervalued.
Key valuation signals for FRA:Z5S:
Days Payable: 81.35 (56% below median its 10-year median of 185.32)
GF Value™: €1.76 vs. price of €1.50 (14.8% below fair value)
Industry Position: 13.1% below the Real Estate median (#786 of 1572)
No single metric tells the full story. See the FRA:Z5S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Atenor SA is a Belgium-based real estate development company engaged in the business activity of developing real estate projects. Its project portfolio comprises offices, mixed-use, and residential complexes. The company's projects include Up-Site, Hermes Business Campus, Vaci Greens, Victor, Trebel, and South City Hotel. The group operates in Belgium, the Grand Duchy of Luxembourg, Hungary, and Romania.
39GF Score
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