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AtenorFRA:Z5S +1.67%39 EV-to-FCF is 25.01 as of Jul. 13, 2026. 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 1,095 Real Estate companies, Atenor ranks worse than 60.27% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Atenor's Enterprise Value is €622.8 Mil.
Atenor's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €24.9 Mil. Therefore, Atenor's EV-to-FCF for today is 25.01.
The historical rank and industry rank for Atenor's EV-to-FCF or its related term are showing as below:
FRA:Z5S'
s EV-to-FCF Range Over the Past 10 Years
Min: -12.16 Med: -5.77 Max: 3680.03
Current: 25.01
During the past 13 years, the highest EV-to-FCF of Atenor was 3680.03. The lowest was -12.16. And the median was -5.77.
FRA:Z5S's EV-to-FCF is ranked worse than 60.27% of 1095
companies
in the Real Estate industry
Industry Median: 19.2
vs FRA:Z5S: 25.01
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-13), Atenor's stock price is €1.525.
Atenor's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €-2.400. Therefore, Atenor's PE Ratio (TTM) for today is At Loss.
Atenor (FRA:Z5S) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Atenor's share price for today is €1.525.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Atenor's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €-2.400.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Atenor EV-to-FCF Related Terms
Atenor EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Atenor's EV-to-FCF 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 EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Atenor's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Atenor's EV-to-FCF falls into.
Atenor's current Enterprise Value is €622.8 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Atenor's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €24.9 Mil.
* 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 EV-to-FCF of 25.01 as of Jul. 13, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Atenor and its competitors. According to the industry distribution chart, Atenor ranks #660 out of 1095 companies in the Real Estate industry, placing it in the top 60.3%.
Is Atenor's EV-to-FCF too high?
Atenor's current EV-to-FCF is 25.01. The Real Estate industry median EV-to-FCF is 19.20. Atenor's value of 25.01 is 30.3% above this industry median. Based on the distribution chart, Atenor ranks #660 out of 1095 companies in the Real Estate industry, which is below 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 EV-to-FCF compare to competitors?
According to the Real Estate industry distribution chart, Atenor ranks #660 out of 1095 companies for EV-to-FCF. This places Atenor in the lower half of its industry. The industry median EV-to-FCF is 19.20. Atenor's value of 25.01 is 30.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Real Estate company?
The median EV-to-FCF among Real Estate companies is 19.20, based on 1,095 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Atenor's current EV-to-FCF of 25.01 is 30.3% above 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Atenor and its competitors. For the Real Estate industry, the median EV-to-FCF is 19.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atenor's current EV-to-FCF is 25.01. 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 €1.53 — trading 13.4% below its estimated fair value. The current EV-to-FCF is 25.01 and 30.3% above the Real Estate industry median of 19.20. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Atenor (FRA:Z5S), the current EV-to-FCF is 25.01 as of Jul. 13, 2026. 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 €1.53 is trading 13.4% below its estimated GF Value™ of €1.76.
GuruFocus considers Atenor to be Modestly Undervalued.
Key valuation signals for FRA:Z5S:
EV-to-FCF: 25.01
GF Value™: €1.76 vs. price of €1.53 (13.4% below fair value)
Industry Position: 30.3% above the Real Estate median (#660 of 1095)
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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