Stock · Euronext Dublin
Should you buy Cairn Homes stock?
One of Ireland's largest homebuilders, focused on the Greater Dublin area. A reasonable valuation, a real dividend and a large landbank, set against a housing market that turns with the economy. Here is our rating and how to buy it.
Key points
- Euronext Dublin: CRN. Irish homebuilder, also listed in London; held in an ordinary brokerage account.
- FY2024 revenue ≈ €859.9m and net profit ≈ €114.6m; 2,241 units delivered.
- Reasonable valuation (P/E ≈ 12.47) and a real dividend (yield ≈ 3.94%).
- Large landbank (16,150 units) and an order book of 2,593 units worth ≈ €989m.
01Our review
Cairn Homes at a glance
Cairn Homes is one of Ireland's leading homebuilders, led by co-founder and CEO Michael Stanley and focused on the Greater Dublin area. For FY2024 the group reported revenue of about €859.9m, EBITDA near €150m and net profit of roughly €114.6m, with earnings per share around 17.9 euro cents. It delivered 2,241 residential units at an average sale price of about €383,000, and carried an order book of 2,593 units valued at around €989m plus a landbank of 16,150 units across 38 sites. The valuation looks reasonable, with a P/E around 12.47, and the dividend is real (yield around 3.94%). The company's 2025 guidance points to revenue growth above 10%, operating profit near €160m and a return on equity around 15.5%. The trade-off is the housing cycle: demand, prices and completions all move with interest rates, supply and the broader economy. For an investor this is a well-positioned builder with income and a visible pipeline, but with earnings tied to Irish housing.
Strengths
- Reasonable valuation: a P/E around 12.47 for a profitable, growing builder.
- Real dividend: a yield around 3.94%, unusual for a growth-oriented homebuilder.
- Visible pipeline: an order book of 2,593 units (≈ €989m) and a 16,150-unit landbank.
- Structural demand: a persistent housing shortage in the Greater Dublin area.
Watch-outs
- Housing-cycle exposure: revenue, prices and completions track rates, supply and the economy.
- Geographic concentration: a heavy focus on the Greater Dublin market.
02Snapshot
Cairn Homes in brief
Fundamentals verified as of 22 July 2026.
04Our verdict
Our verdict, backed by sources
Well-positioned builder, tied to the housing cycle
A leading Irish homebuilder with a reasonable valuation, a real dividend and a visible pipeline, but earnings track a cyclical housing market concentrated in Greater Dublin. A reasonable holding for investors who accept the cycle.
This is analysis, not advice. The bull case: Cairn Homes is a leading Irish builder with a reasonable valuation (P/E around 12.47), a real dividend (yield around 3.94%), and a visible pipeline: an order book of 2,593 units (≈ €989m) and a 16,150-unit landbank. A structural housing shortage in Greater Dublin supports demand, and 2025 guidance points to revenue growth above 10%.
The bear case: homebuilding is cyclical, and revenue, prices and completions all move with interest rates, supply and the broader economy. The heavy focus on the Greater Dublin market adds geographic concentration.
Our take: a well-run, well-positioned builder that pays you to wait, but one whose earnings track the Irish housing cycle. Size it with that cyclicality in mind. As always, no invented price target.
05Get started
How to buy Cairn Homes stock
Two routes, both from regulated brokers serving the Irish market. A broker comparison is further down.
Cash / spot
Buy the real share (cash)
You own the share and benefit from long-term appreciation and dividends. Cost is a small commission per order; buying the Euronext Dublin line avoids an FX conversion for an Irish investor, while the London line trades in GBX. Best for buy-and-hold investors. Check how capital gains and dividend income are taxed in your situation.
CFD (leveraged)
Trade via CFD (leverage)
A CFD tracks the price with leverage that amplifies gains and losses; costs are the spread plus overnight financing. Short-term, risk-aware traders only; most retail CFD accounts lose money.
For most investors, buying the real share in a brokerage account is simplest for the long term. Compare brokers on Irish and European commissions below.
06Playbook
6 practical tips for buying Cairn Homes
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Mind the housing cycle
Prices, demand and completions move with rates, supply and the economy.
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Check the listing
The London line trades in GBX; the Euronext Dublin line avoids FX for Irish investors.
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Value the pipeline
The order book (≈ €989m) and 16,150-unit landbank give some earnings visibility.
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Weigh the dividend
A yield around 3.94% pays you while you hold, but is not guaranteed.
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Note the concentration
A heavy Greater Dublin focus concentrates the risk in one market.
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Mind tax
Check how Irish tax treats your capital gains and dividend income before you buy.
08Where to invest
Where to buy Cairn Homes stock
For Cairn Homes, prioritise a regulated broker with low commissions on Euronext Dublin. Compare regulated brokers side by side.
Compare brokersCairn Homes stock FAQ
- Yes. The dividend yield is around 3.94%, with a latest dividend of 7.37 GBX per share. Unusually for a growth-oriented homebuilder, income is part of the case here.
- Irish investors are generally subject to capital gains tax on gains and to tax on dividend income. The exact treatment depends on your situation and account: verify with your broker or a tax adviser.
- We don't publish one. We refuse to invent a figure or a fake consensus. When a credible, sourced analyst consensus exists we may cite it with its date; otherwise we say we don't have one.
Why trust HelloBrokers on this
Independent editorial team. We are not paid by Cairn Homes, and we don't publish invented price targets or a fake bank consensus. Ratings follow our methodology; broker referrals (disclosed on each page) fund our work and never change our verdict.
This content is for information only and is not investment advice, a recommendation or a solicitation. Past performance does not predict future returns. Investing carries a risk of capital loss; CFDs amplify that risk. Do your own research and consider professional advice before investing.