KONINKLIJKE AHOLD DELHAIZE N (AD.AS) Fundamental Analysis & Valuation

AMS:AD • NL0011794037

Current stock price

40.895 EUR
+0.22 (+0.53%)
Last:

This AD.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. AD.AS Profitability Analysis

1.1 Basic Checks

  • In the past year AD was profitable.
  • AD had a positive operating cash flow in the past year.
  • AD had positive earnings in each of the past 5 years.
  • AD had a positive operating cash flow in each of the past 5 years.
AD.AS Yearly Net Income VS EBIT VS OCF VS FCFAD.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

1.2 Ratios

  • AD has a Return On Assets (4.61%) which is in line with its industry peers.
  • The Return On Equity of AD (15.95%) is comparable to the rest of the industry.
  • The Return On Invested Capital of AD (8.31%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for AD is below the industry average of 9.30%.
  • The last Return On Invested Capital (8.31%) for AD is above the 3 year average (6.97%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.61%
ROE 15.95%
ROIC 8.31%
ROA(3y)3.98%
ROA(5y)4.42%
ROE(3y)13.35%
ROE(5y)14.59%
ROIC(3y)6.97%
ROIC(5y)7.48%
AD.AS Yearly ROA, ROE, ROICAD.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • AD has a better Profit Margin (2.45%) than 62.50% of its industry peers.
  • In the last couple of years the Profit Margin of AD has grown nicely.
  • AD has a Operating Margin (3.84%) which is in line with its industry peers.
  • AD's Operating Margin has improved in the last couple of years.
  • AD has a Gross Margin of 26.54%. This is comparable to the rest of the industry: AD outperforms 58.33% of its industry peers.
  • In the last couple of years the Gross Margin of AD has remained more or less at the same level.
Industry RankSector Rank
OM 3.84%
PM (TTM) 2.45%
GM 26.54%
OM growth 3Y-3.98%
OM growth 5Y5.52%
PM growth 3Y-5.74%
PM growth 5Y5.57%
GM growth 3Y-0.3%
GM growth 5Y-0.73%
AD.AS Yearly Profit, Operating, Gross MarginsAD.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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3

2. AD.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AD is creating some value.
  • AD has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for AD has been reduced compared to 5 years ago.
  • AD has a better debt/assets ratio than last year.
AD.AS Yearly Shares OutstandingAD.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
AD.AS Yearly Total Debt VS Total AssetsAD.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • AD has an Altman-Z score of 2.86. This is not the best score and indicates that AD is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of AD (2.86) is comparable to the rest of the industry.
  • The Debt to FCF ratio of AD is 4.16, which is a neutral value as it means it would take AD, 4.16 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.16, AD is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • A Debt/Equity ratio of 1.13 is on the high side and indicates that AD has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.13, AD is doing worse than 70.83% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 4.16
Altman-Z 2.86
ROIC/WACC1.6
WACC5.2%
AD.AS Yearly LT Debt VS Equity VS FCFAD.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 0.71 indicates that AD may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.71, AD is doing worse than 87.50% of the companies in the same industry.
  • A Quick Ratio of 0.42 indicates that AD may have some problems paying its short term obligations.
  • AD has a worse Quick ratio (0.42) than 62.50% of its industry peers.
Industry RankSector Rank
Current Ratio 0.71
Quick Ratio 0.42
AD.AS Yearly Current Assets VS Current LiabilitesAD.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. AD.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 4.71% over the past year.
  • Measured over the past 5 years, AD shows a small growth in Earnings Per Share. The EPS has been growing by 3.30% on average per year.
  • AD shows a small growth in Revenue. In the last year, the Revenue has grown by 3.35%.
  • The Revenue has been growing slightly by 4.32% on average over the past years.
EPS 1Y (TTM)4.71%
EPS 3Y1.41%
EPS 5Y3.3%
EPS Q2Q%5.8%
Revenue 1Y (TTM)3.35%
Revenue growth 3Y2.02%
Revenue growth 5Y4.32%
Sales Q2Q%0.92%

3.2 Future

  • Based on estimates for the next years, AD will show a small growth in Earnings Per Share. The EPS will grow by 6.59% on average per year.
  • The Revenue is expected to grow by 2.47% on average over the next years.
EPS Next Y6.6%
EPS Next 2Y7.24%
EPS Next 3Y7.34%
EPS Next 5Y6.59%
Revenue Next Year1.46%
Revenue Next 2Y1.99%
Revenue Next 3Y2.35%
Revenue Next 5Y2.47%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AD.AS Yearly Revenue VS EstimatesAD.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B 80B 100B
AD.AS Yearly EPS VS EstimatesAD.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 1 2 3

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5

4. AD.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 15.32 indicates a correct valuation of AD.
  • Based on the Price/Earnings ratio, AD is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
  • AD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.38.
  • A Price/Forward Earnings ratio of 14.37 indicates a correct valuation of AD.
  • AD's Price/Forward Earnings ratio is in line with the industry average.
  • AD is valuated cheaply when we compare the Price/Forward Earnings ratio to 38.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 15.32
Fwd PE 14.37
AD.AS Price Earnings VS Forward Price EarningsAD.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AD is valued a bit cheaper than 75.00% of the companies in the same industry.
  • AD's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. AD is cheaper than 66.67% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.17
EV/EBITDA 6.75
AD.AS Per share dataAD.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates AD does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of AD may justify a higher PE ratio.
PEG (NY)2.32
PEG (5Y)4.64
EPS Next 2Y7.24%
EPS Next 3Y7.34%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. AD.AS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.94%, AD has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.57, AD pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, AD pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.94%

5.2 History

  • The dividend of AD is nicely growing with an annual growth rate of 13.11%!
Dividend Growth(5Y)13.11%
Div Incr Years4
Div Non Decr Years4
AD.AS Yearly Dividends per shareAD.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 47.26% of the earnings are spent on dividend by AD. This is a bit on the high side, but may be sustainable.
  • AD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP47.26%
EPS Next 2Y7.24%
EPS Next 3Y7.34%
AD.AS Yearly Income VS Free CF VS DividendAD.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B
AD.AS Dividend Payout.AD.AS Dividend Payout, showing the Payout Ratio.AD.AS Dividend Payout.PayoutRetained Earnings

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AD.AS Fundamentals: All Metrics, Ratios and Statistics

KONINKLIJKE AHOLD DELHAIZE N

AMS:AD (4/16/2026, 12:37:03 PM)

40.895

+0.22 (+0.53%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)02-11
Earnings (Next)05-06
Inst Owners55.16%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap36.16B
Revenue(TTM)92.35B
Net Income(TTM)2.26B
Analysts74.62
Price Target42.13 (3.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.94%
Yearly Dividend1.19
Dividend Growth(5Y)13.11%
DP47.26%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.62%
Min EPS beat(2)7.34%
Max EPS beat(2)7.9%
EPS beat(4)2
Avg EPS beat(4)2.71%
Min EPS beat(4)-2.39%
Max EPS beat(4)7.9%
EPS beat(8)4
Avg EPS beat(8)1.62%
EPS beat(12)7
Avg EPS beat(12)1.76%
EPS beat(16)11
Avg EPS beat(16)3.83%
Revenue beat(2)0
Avg Revenue beat(2)-2.57%
Min Revenue beat(2)-2.85%
Max Revenue beat(2)-2.3%
Revenue beat(4)1
Avg Revenue beat(4)-0.99%
Min Revenue beat(4)-2.85%
Max Revenue beat(4)3.47%
Revenue beat(8)3
Avg Revenue beat(8)-0.54%
Revenue beat(12)3
Avg Revenue beat(12)-1.3%
Revenue beat(16)3
Avg Revenue beat(16)-1.28%
PT rev (1m)2.05%
PT rev (3m)6.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.18%
EPS NY rev (3m)-0.32%
Revenue NQ rev (1m)-0.31%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.17%
Revenue NY rev (3m)-0.45%
Valuation
Industry RankSector Rank
PE 15.32
Fwd PE 14.37
P/S 0.39
P/FCF 8.17
P/OCF 5.17
P/B 2.55
P/tB 68.49
EV/EBITDA 6.75
EPS(TTM)2.67
EY6.53%
EPS(NY)2.85
Fwd EY6.96%
FCF(TTM)5
FCFY12.24%
OCF(TTM)7.9
OCFY19.33%
SpS104.44
BVpS16.05
TBVpS0.6
PEG (NY)2.32
PEG (5Y)4.64
Graham Number31.0543 (-24.06%)
Profitability
Industry RankSector Rank
ROA 4.61%
ROE 15.95%
ROCE 10.97%
ROIC 8.31%
ROICexc 9.43%
ROICexgc 17.68%
OM 3.84%
PM (TTM) 2.45%
GM 26.54%
FCFM 4.79%
ROA(3y)3.98%
ROA(5y)4.42%
ROE(3y)13.35%
ROE(5y)14.59%
ROIC(3y)6.97%
ROIC(5y)7.48%
ROICexc(3y)8.04%
ROICexc(5y)8.5%
ROICexgc(3y)14.68%
ROICexgc(5y)15.27%
ROCE(3y)9.3%
ROCE(5y)9.93%
ROICexgc growth 3Y2.27%
ROICexgc growth 5Y7.32%
ROICexc growth 3Y-0.22%
ROICexc growth 5Y6.93%
OM growth 3Y-3.98%
OM growth 5Y5.52%
PM growth 3Y-5.74%
PM growth 5Y5.57%
GM growth 3Y-0.3%
GM growth 5Y-0.73%
F-Score7
Asset Turnover1.88
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 4.16
Debt/EBITDA 2.2
Cap/Depr 68.68%
Cap/Sales 2.78%
Interest Coverage 13.57
Cash Conversion 96.07%
Profit Quality 195.45%
Current Ratio 0.71
Quick Ratio 0.42
Altman-Z 2.86
F-Score7
WACC5.2%
ROIC/WACC1.6
Cap/Depr(3y)64.68%
Cap/Depr(5y)67.84%
Cap/Sales(3y)2.7%
Cap/Sales(5y)2.82%
Profit Quality(3y)211.04%
Profit Quality(5y)182.64%
High Growth Momentum
Growth
EPS 1Y (TTM)4.71%
EPS 3Y1.41%
EPS 5Y3.3%
EPS Q2Q%5.8%
EPS Next Y6.6%
EPS Next 2Y7.24%
EPS Next 3Y7.34%
EPS Next 5Y6.59%
Revenue 1Y (TTM)3.35%
Revenue growth 3Y2.02%
Revenue growth 5Y4.32%
Sales Q2Q%0.92%
Revenue Next Year1.46%
Revenue Next 2Y1.99%
Revenue Next 3Y2.35%
Revenue Next 5Y2.47%
EBIT growth 1Y27.23%
EBIT growth 3Y-2.04%
EBIT growth 5Y10.08%
EBIT Next Year101.65%
EBIT Next 3Y28.68%
EBIT Next 5Y18.03%
FCF growth 1Y12.74%
FCF growth 3Y6.92%
FCF growth 5Y3.73%
OCF growth 1Y12.29%
OCF growth 3Y4.58%
OCF growth 5Y1.96%

KONINKLIJKE AHOLD DELHAIZE N / AD.AS Fundamental Analysis FAQ

What is the ChartMill fundamental rating of KONINKLIJKE AHOLD DELHAIZE N (AD.AS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to AD.AS.


What is the valuation status of KONINKLIJKE AHOLD DELHAIZE N (AD.AS) stock?

ChartMill assigns a valuation rating of 5 / 10 to KONINKLIJKE AHOLD DELHAIZE N (AD.AS). This can be considered as Fairly Valued.


How profitable is KONINKLIJKE AHOLD DELHAIZE N (AD.AS) stock?

KONINKLIJKE AHOLD DELHAIZE N (AD.AS) has a profitability rating of 7 / 10.


What are the PE and PB ratios of KONINKLIJKE AHOLD DELHAIZE N (AD.AS) stock?

The Price/Earnings (PE) ratio for KONINKLIJKE AHOLD DELHAIZE N (AD.AS) is 15.32 and the Price/Book (PB) ratio is 2.55.


How sustainable is the dividend of KONINKLIJKE AHOLD DELHAIZE N (AD.AS) stock?

The dividend rating of KONINKLIJKE AHOLD DELHAIZE N (AD.AS) is 6 / 10 and the dividend payout ratio is 47.26%.