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KONINKLIJKE AHOLD DELHAIZE N (AD.AS) Stock Fundamental Analysis

AMS:AD - Euronext Amsterdam - NL0011794037 - Common Stock - Currency: EUR

35.7  -0.2 (-0.56%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to AD. AD was compared to 24 industry peers in the Consumer Staples Distribution & Retail industry. AD has only an average score on both its financial health and profitability. AD has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

AD had positive earnings in the past year.
In the past year AD had a positive cash flow from operations.
AD had positive earnings in each of the past 5 years.
In the past 5 years AD always reported a positive cash flow from operatings.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

1.2 Ratios

AD's Return On Assets of 3.40% is fine compared to the rest of the industry. AD outperforms 62.50% of its industry peers.
With a decent Return On Equity value of 11.42%, AD is doing good in the industry, outperforming 66.67% of the companies in the same industry.
AD has a Return On Invested Capital (6.01%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for AD is in line with the industry average of 8.77%.
Industry RankSector Rank
ROA 3.4%
ROE 11.42%
ROIC 6.01%
ROA(3y)4.19%
ROA(5y)4.18%
ROE(3y)13.55%
ROE(5y)13.65%
ROIC(3y)7.16%
ROIC(5y)7.13%
AD.AS Yearly ROA, ROE, ROICAD.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

Looking at the Profit Margin, with a value of 1.98%, AD is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
AD's Profit Margin has declined in the last couple of years.
AD has a Operating Margin (3.12%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of AD has declined.
The Gross Margin of AD (26.64%) is better than 70.83% of its industry peers.
AD's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 3.12%
PM (TTM) 1.98%
GM 26.64%
OM growth 3Y-10.81%
OM growth 5Y-4.96%
PM growth 3Y-12.74%
PM growth 5Y-5.83%
GM growth 3Y-0.89%
GM growth 5Y-0.46%
AD.AS Yearly Profit, Operating, Gross MarginsAD.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AD is creating some value.
The number of shares outstanding for AD has been reduced compared to 1 year ago.
AD has less shares outstanding than it did 5 years ago.
AD has a worse debt/assets ratio than last year.
AD.AS Yearly Shares OutstandingAD.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

AD has an Altman-Z score of 2.57. 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.
AD's Altman-Z score of 2.57 is on the low side compared to the rest of the industry. AD is outperformed by 62.50% of its industry peers.
AD has a debt to FCF ratio of 5.18. This is a neutral value as AD would need 5.18 years to pay back of all of its debts.
AD has a Debt to FCF ratio of 5.18. This is amongst the best in the industry. AD outperforms 83.33% of its industry peers.
A Debt/Equity ratio of 1.18 is on the high side and indicates that AD has dependencies on debt financing.
AD's Debt to Equity ratio of 1.18 is on the low side compared to the rest of the industry. AD is outperformed by 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 5.18
Altman-Z 2.57
ROIC/WACC1.17
WACC5.14%
AD.AS Yearly LT Debt VS Equity VS FCFAD.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

AD has a Current Ratio of 0.84. This is a bad value and indicates that AD is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of AD (0.84) is comparable to the rest of the industry.
AD has a Quick Ratio of 0.84. This is a bad value and indicates that AD is not financially healthy enough and could expect problems in meeting its short term obligations.
AD's Quick ratio of 0.56 is in line compared to the rest of the industry. AD outperforms 54.17% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.56
AD.AS Yearly Current Assets VS Current LiabilitesAD.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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3

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 0.39% over the past year.
Measured over the past years, AD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 8.32% on average per year.
AD shows a small growth in Revenue. In the last year, the Revenue has grown by 0.80%.
The Revenue has been growing slightly by 6.16% on average over the past years.
EPS 1Y (TTM)0.39%
EPS 3Y5.2%
EPS 5Y8.32%
EPS Q2Q%-5.48%
Revenue 1Y (TTM)0.8%
Revenue growth 3Y5.73%
Revenue growth 5Y6.16%
Sales Q2Q%1.1%

3.2 Future

The Earnings Per Share is expected to grow by 4.75% on average over the next years.
The Revenue is expected to grow by 1.58% on average over the next years.
EPS Next Y9.73%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
EPS Next 5Y4.75%
Revenue Next Year7.01%
Revenue Next 2Y4.99%
Revenue Next 3Y4.29%
Revenue Next 5Y1.58%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AD.AS Yearly Revenue VS EstimatesAD.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B 80B 100B
AD.AS Yearly EPS VS EstimatesAD.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 14.00, AD is valued correctly.
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.
Compared to an average S&P500 Price/Earnings ratio of 28.92, AD is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 12.76, the valuation of AD can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AD is on the same level as its industry peers.
AD's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.65.
Industry RankSector Rank
PE 14
Fwd PE 12.76
AD.AS Price Earnings VS Forward Price EarningsAD.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as AD.
Based on the Price/Free Cash Flow ratio, AD is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 8.3
EV/EBITDA 6.78
AD.AS Per share dataAD.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

AD's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.44
PEG (5Y)1.68
EPS Next 2Y9.14%
EPS Next 3Y8.88%

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4

5. Dividend

5.1 Amount

AD has a Yearly Dividend Yield of 3.39%.
AD's Dividend Yield is comparable with the industry average which is at 4.40.
AD's Dividend Yield is a higher than the S&P500 average which is at 2.51.
Industry RankSector Rank
Dividend Yield 3.39%

5.2 History

On average, the dividend of AD grows each year by 21.56%, which is quite nice.
Dividend Growth(5Y)21.56%
Div Incr Years3
Div Non Decr Years3
AD.AS Yearly Dividends per shareAD.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

AD pays out 58.75% of its income as dividend. 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.
DP58.75%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
AD.AS Yearly Income VS Free CF VS DividendAD.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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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KONINKLIJKE AHOLD DELHAIZE N

AMS:AD (4/25/2025, 5:36:15 PM)

35.7

-0.2 (-0.56%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)02-12 2025-02-12/bmo
Earnings (Next)05-07 2025-05-07
Inst Owners54.89%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap32.59B
Analysts75.56
Price Target37.06 (3.81%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.39%
Yearly Dividend1.12
Dividend Growth(5Y)21.56%
DP58.75%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.24%
Min EPS beat(2)-2.49%
Max EPS beat(2)2%
EPS beat(4)2
Avg EPS beat(4)0.52%
Min EPS beat(4)-2.49%
Max EPS beat(4)2.98%
EPS beat(8)5
Avg EPS beat(8)1.28%
EPS beat(12)9
Avg EPS beat(12)4.21%
EPS beat(16)12
Avg EPS beat(16)4.9%
Revenue beat(2)1
Avg Revenue beat(2)-0.14%
Min Revenue beat(2)-2.66%
Max Revenue beat(2)2.39%
Revenue beat(4)2
Avg Revenue beat(4)-0.09%
Min Revenue beat(4)-2.66%
Max Revenue beat(4)2.39%
Revenue beat(8)2
Avg Revenue beat(8)-1.45%
Revenue beat(12)2
Avg Revenue beat(12)-1.38%
Revenue beat(16)5
Avg Revenue beat(16)-0.86%
PT rev (1m)0%
PT rev (3m)10.01%
EPS NQ rev (1m)-3.12%
EPS NQ rev (3m)0%
EPS NY rev (1m)-1.92%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.63%
Valuation
Industry RankSector Rank
PE 14
Fwd PE 12.76
P/S 0.36
P/FCF 8.3
P/OCF 5.24
P/B 2.11
P/tB 16.02
EV/EBITDA 6.78
EPS(TTM)2.55
EY7.14%
EPS(NY)2.8
Fwd EY7.84%
FCF(TTM)4.3
FCFY12.04%
OCF(TTM)6.82
OCFY19.1%
SpS97.88
BVpS16.93
TBVpS2.23
PEG (NY)1.44
PEG (5Y)1.68
Profitability
Industry RankSector Rank
ROA 3.4%
ROE 11.42%
ROCE 8.08%
ROIC 6.01%
ROICexc 7.3%
ROICexgc 13.13%
OM 3.12%
PM (TTM) 1.98%
GM 26.64%
FCFM 4.39%
ROA(3y)4.19%
ROA(5y)4.18%
ROE(3y)13.55%
ROE(5y)13.65%
ROIC(3y)7.16%
ROIC(5y)7.13%
ROICexc(3y)8.2%
ROICexc(5y)8.1%
ROICexgc(3y)14.53%
ROICexgc(5y)14.46%
ROCE(3y)9.39%
ROCE(5y)9.31%
ROICexcg growth 3Y-6.55%
ROICexcg growth 5Y-2.37%
ROICexc growth 3Y-6.86%
ROICexc growth 5Y-1.86%
OM growth 3Y-10.81%
OM growth 5Y-4.96%
PM growth 3Y-12.74%
PM growth 5Y-5.83%
GM growth 3Y-0.89%
GM growth 5Y-0.46%
F-Score5
Asset Turnover1.72
Health
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 5.18
Debt/EBITDA 2.81
Cap/Depr 62.03%
Cap/Sales 2.57%
Interest Coverage 12.1
Cash Conversion 95.9%
Profit Quality 222.38%
Current Ratio 0.84
Quick Ratio 0.56
Altman-Z 2.57
F-Score5
WACC5.14%
ROIC/WACC1.17
Cap/Depr(3y)64.41%
Cap/Depr(5y)72.49%
Cap/Sales(3y)2.73%
Cap/Sales(5y)2.97%
Profit Quality(3y)193.28%
Profit Quality(5y)196.29%
High Growth Momentum
Growth
EPS 1Y (TTM)0.39%
EPS 3Y5.2%
EPS 5Y8.32%
EPS Q2Q%-5.48%
EPS Next Y9.73%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
EPS Next 5Y4.75%
Revenue 1Y (TTM)0.8%
Revenue growth 3Y5.73%
Revenue growth 5Y6.16%
Sales Q2Q%1.1%
Revenue Next Year7.01%
Revenue Next 2Y4.99%
Revenue Next 3Y4.29%
Revenue Next 5Y1.58%
EBIT growth 1Y-2.18%
EBIT growth 3Y-5.7%
EBIT growth 5Y0.9%
EBIT Next Year108.67%
EBIT Next 3Y29.79%
EBIT Next 5Y16.35%
FCF growth 1Y-2.65%
FCF growth 3Y8.22%
FCF growth 5Y3.97%
OCF growth 1Y-3.74%
OCF growth 3Y4.41%
OCF growth 5Y2.7%