Added to YB: 2025-12-30
Pitch date: 2025-12-25
CDA.PA [neutral]
Compagnie des Alpes SA
+0.6%
current return
Author Info
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Company Info
Compagnie des Alpes SA, together with its subsidiaries, engages in the operation of leisure facilities in France and internationally.
Market Cap
EUR 1.3B
Pitch Price
EUR 25.00
Price Target
N/A
Dividend
4.39%
EV/EBITDA
N/A
P/E
N/A
EV/Sales
N/A
Sector
Hotels, Restaurants and Leisure
Category
value
[CDA] Compagnie des Alpes: When Altitude Becomes the Moat
CDA.PA (overview - fairly valued): Europe's only ski+theme park operator owns 10 high-altitude French Alpine domains w/ €10.7B contracted revenue backlog (~25yr avg). Climate consolidation eliminating low-altitude competitors drives pricing power (+5.5% ski rev on flat volumes). Record FY25: 29% EBITDA margins, strong FCF conversion. 5x EV/EBITDA on scarcity assets, but renewal risk & climate uncertainty beyond 2040 create valuation tension.
Read full article (18 min)