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EUROCOMMERCIAL PROPERTIES NV (ECMPA.AS) Stock Fundamental Analysis

Europe - AMS:ECMPA - NL0015000K93 - REIT

25.95 EUR
0 (0%)
Last: 9/15/2025, 5:25:59 PM
Fundamental Rating

4

Taking everything into account, ECMPA scores 4 out of 10 in our fundamental rating. ECMPA was compared to 40 industry peers in the Diversified REITs industry. While ECMPA is still in line with the averages on profitability rating, there are concerns on its financial health. ECMPA is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

ECMPA had positive earnings in the past year.
In the past year ECMPA had a positive cash flow from operations.
In multiple years ECMPA reported negative net income over the last 5 years.
In the past 5 years ECMPA always reported a positive cash flow from operatings.
ECMPA.AS Yearly Net Income VS EBIT VS OCF VS FCFECMPA.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 0 50M 100M 150M 200M 250M

1.2 Ratios

ECMPA has a better Return On Assets (4.18%) than 80.00% of its industry peers.
ECMPA has a Return On Equity of 8.14%. This is in the better half of the industry: ECMPA outperforms 77.50% of its industry peers.
ECMPA's Return On Invested Capital of 5.63% is amongst the best of the industry. ECMPA outperforms 92.50% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ECMPA is in line with the industry average of 3.43%.
The 3 year average ROIC (3.73%) for ECMPA is below the current ROIC(5.63%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.18%
ROE 8.14%
ROIC 5.63%
ROA(3y)2.97%
ROA(5y)2.29%
ROE(3y)5.65%
ROE(5y)4.45%
ROIC(3y)3.73%
ROIC(5y)3.62%
ECMPA.AS Yearly ROA, ROE, ROICECMPA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

ECMPA's Profit Margin of 42.73% is in line compared to the rest of the industry. ECMPA outperforms 57.50% of its industry peers.
ECMPA's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 65.58%, ECMPA perfoms like the industry average, outperforming 42.50% of the companies in the same industry.
In the last couple of years the Operating Margin of ECMPA has remained more or less at the same level.
ECMPA's Gross Margin of 71.04% is on the low side compared to the rest of the industry. ECMPA is outperformed by 62.50% of its industry peers.
ECMPA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 65.58%
PM (TTM) 42.73%
GM 71.04%
OM growth 3Y-0.78%
OM growth 5Y-0.75%
PM growth 3Y15.88%
PM growth 5Y16.12%
GM growth 3Y0.61%
GM growth 5Y-0.39%
ECMPA.AS Yearly Profit, Operating, Gross MarginsECMPA.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ECMPA is still creating some value.
Compared to 1 year ago, ECMPA has more shares outstanding
The number of shares outstanding for ECMPA has been increased compared to 5 years ago.
The debt/assets ratio for ECMPA has been reduced compared to a year ago.
ECMPA.AS Yearly Shares OutstandingECMPA.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
ECMPA.AS Yearly Total Debt VS Total AssetsECMPA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

Based on the Altman-Z score of 1.17, we must say that ECMPA is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.17, ECMPA is doing good in the industry, outperforming 75.00% of the companies in the same industry.
ECMPA has a debt to FCF ratio of 24.68. This is a negative value and a sign of low solvency as ECMPA would need 24.68 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 24.68, ECMPA is doing worse than 72.50% of the companies in the same industry.
ECMPA has a Debt/Equity ratio of 0.71. This is a neutral value indicating ECMPA is somewhat dependend on debt financing.
ECMPA has a Debt to Equity ratio of 0.71. This is comparable to the rest of the industry: ECMPA outperforms 47.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 24.68
Altman-Z 1.17
ROIC/WACC1.14
WACC4.95%
ECMPA.AS Yearly LT Debt VS Equity VS FCFECMPA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 0.48 indicates that ECMPA may have some problems paying its short term obligations.
ECMPA has a Current ratio (0.48) which is in line with its industry peers.
ECMPA has a Quick Ratio of 0.48. This is a bad value and indicates that ECMPA is not financially healthy enough and could expect problems in meeting its short term obligations.
ECMPA has a Quick ratio of 0.48. This is comparable to the rest of the industry: ECMPA outperforms 52.50% of its industry peers.
Industry RankSector Rank
Current Ratio 0.48
Quick Ratio 0.48
ECMPA.AS Yearly Current Assets VS Current LiabilitesECMPA.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 80.61% over the past year.
ECMPA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.49% yearly.
The Revenue has been growing slightly by 1.62% in the past year.
The Revenue has been growing slightly by 2.35% on average over the past years.
EPS 1Y (TTM)80.61%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%-53.2%
Revenue 1Y (TTM)1.62%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%1.96%

3.2 Future

Based on estimates for the next years, ECMPA will show a small growth in Earnings Per Share. The EPS will grow by 2.78% on average per year.
The Revenue is expected to grow by 0.59% on average over the next years.
EPS Next Y2.49%
EPS Next 2Y2.48%
EPS Next 3Y2.78%
EPS Next 5YN/A
Revenue Next Year-1.95%
Revenue Next 2Y0.25%
Revenue Next 3Y1.07%
Revenue Next 5Y0.59%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ECMPA.AS Yearly Revenue VS EstimatesECMPA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 50M 100M 150M 200M 250M
ECMPA.AS Yearly EPS VS EstimatesECMPA.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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5

4. Valuation

4.1 Price/Earnings Ratio

ECMPA is valuated reasonably with a Price/Earnings ratio of 8.32.
Based on the Price/Earnings ratio, ECMPA is valued cheaper than 92.50% of the companies in the same industry.
ECMPA is valuated cheaply when we compare the Price/Earnings ratio to 27.27, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 10.08, the valuation of ECMPA can be described as very reasonable.
Based on the Price/Forward Earnings ratio, ECMPA is valued a bit cheaper than 80.00% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.77. ECMPA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.32
Fwd PE 10.08
ECMPA.AS Price Earnings VS Forward Price EarningsECMPA.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, ECMPA is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
70.00% of the companies in the same industry are cheaper than ECMPA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 22.13
EV/EBITDA 11.32
ECMPA.AS Per share dataECMPA.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
ECMPA has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)3.34
PEG (5Y)0.45
EPS Next 2Y2.48%
EPS Next 3Y2.78%

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6

5. Dividend

5.1 Amount

ECMPA has a Yearly Dividend Yield of 6.84%, which is a nice return.
ECMPA's Dividend Yield is rather good when compared to the industry average which is at 5.57. ECMPA pays more dividend than 85.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, ECMPA pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.84%

5.2 History

The dividend of ECMPA decreases each year by -5.38%.
Dividend Growth(5Y)-5.38%
Div Incr Years2
Div Non Decr Years2
ECMPA.AS Yearly Dividends per shareECMPA.AS Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

ECMPA pays out 42.42% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP42.42%
EPS Next 2Y2.48%
EPS Next 3Y2.78%
ECMPA.AS Yearly Income VS Free CF VS DividendECMPA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M 250M
ECMPA.AS Dividend Payout.ECMPA.AS Dividend Payout, showing the Payout Ratio.ECMPA.AS Dividend Payout.PayoutRetained Earnings

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EUROCOMMERCIAL PROPERTIES NV

AMS:ECMPA (9/15/2025, 5:25:59 PM)

25.95

0 (0%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)08-28 2025-08-28
Earnings (Next)10-30 2025-10-30
Inst Owners32.62%
Inst Owner ChangeN/A
Ins Owners18.58%
Ins Owner ChangeN/A
Market Cap1.42B
Analysts83.16
Price Target29.33 (13.03%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.84%
Yearly Dividend1.33
Dividend Growth(5Y)-5.38%
DP42.42%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.83%
PT rev (3m)3.98%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.27%
EPS NY rev (3m)-0.27%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.84%
Revenue NY rev (3m)-3.27%
Valuation
Industry RankSector Rank
PE 8.32
Fwd PE 10.08
P/S 3.61
P/FCF 22.13
P/OCF 14.68
P/B 0.69
P/tB 0.69
EV/EBITDA 11.32
EPS(TTM)3.12
EY12.02%
EPS(NY)2.57
Fwd EY9.92%
FCF(TTM)1.17
FCFY4.52%
OCF(TTM)1.77
OCFY6.81%
SpS7.18
BVpS37.69
TBVpS37.69
PEG (NY)3.34
PEG (5Y)0.45
Profitability
Industry RankSector Rank
ROA 4.18%
ROE 8.14%
ROCE 6.85%
ROIC 5.63%
ROICexc 5.72%
ROICexgc 5.72%
OM 65.58%
PM (TTM) 42.73%
GM 71.04%
FCFM 16.33%
ROA(3y)2.97%
ROA(5y)2.29%
ROE(3y)5.65%
ROE(5y)4.45%
ROIC(3y)3.73%
ROIC(5y)3.62%
ROICexc(3y)3.78%
ROICexc(5y)3.69%
ROICexgc(3y)3.78%
ROICexgc(5y)3.69%
ROCE(3y)4.54%
ROCE(5y)4.41%
ROICexcg growth 3Y1.8%
ROICexcg growth 5Y2.98%
ROICexc growth 3Y1.8%
ROICexc growth 5Y2.98%
OM growth 3Y-0.78%
OM growth 5Y-0.75%
PM growth 3Y15.88%
PM growth 5Y16.12%
GM growth 3Y0.61%
GM growth 5Y-0.39%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 24.68
Debt/EBITDA 5.66
Cap/Depr 1581.27%
Cap/Sales 8.29%
Interest Coverage 4.98
Cash Conversion 37.23%
Profit Quality 38.21%
Current Ratio 0.48
Quick Ratio 0.48
Altman-Z 1.17
F-Score5
WACC4.95%
ROIC/WACC1.14
Cap/Depr(3y)1687.63%
Cap/Depr(5y)2052.22%
Cap/Sales(3y)12.12%
Cap/Sales(5y)16.51%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)80.61%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%-53.2%
EPS Next Y2.49%
EPS Next 2Y2.48%
EPS Next 3Y2.78%
EPS Next 5YN/A
Revenue 1Y (TTM)1.62%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%1.96%
Revenue Next Year-1.95%
Revenue Next 2Y0.25%
Revenue Next 3Y1.07%
Revenue Next 5Y0.59%
EBIT growth 1Y0.84%
EBIT growth 3Y1.97%
EBIT growth 5Y1.58%
EBIT Next Year-1.76%
EBIT Next 3Y1.07%
EBIT Next 5YN/A
FCF growth 1Y-30.27%
FCF growth 3Y-3.5%
FCF growth 5Y5.65%
OCF growth 1Y-18.31%
OCF growth 3Y1.91%
OCF growth 5Y-1.65%