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EXMAR NV (EXM.BR) Stock Fundamental Analysis

Europe - Euronext Brussels - EBR:EXM - BE0003808251 - Common Stock

10.38 EUR
-0.5 (-4.6%)
Last: 11/26/2025, 4:53:54 PM
Fundamental Rating

6

Overall EXM gets a fundamental rating of 6 out of 10. We evaluated EXM against 68 industry peers in the Oil, Gas & Consumable Fuels industry. EXM has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. EXM is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

EXM had positive earnings in the past year.
In the past year EXM had a positive cash flow from operations.
Each year in the past 5 years EXM has been profitable.
In the past 5 years EXM always reported a positive cash flow from operatings.
EXM.BR Yearly Net Income VS EBIT VS OCF VS FCFEXM.BR 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 200M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of 15.18%, EXM belongs to the top of the industry, outperforming 98.53% of the companies in the same industry.
The Return On Equity of EXM (23.63%) is better than 88.24% of its industry peers.
EXM's Return On Invested Capital of 6.70% is fine compared to the rest of the industry. EXM outperforms 63.24% of its industry peers.
Industry RankSector Rank
ROA 15.18%
ROE 23.63%
ROIC 6.7%
ROA(3y)17.56%
ROA(5y)12.74%
ROE(3y)28.24%
ROE(5y)20.75%
ROIC(3y)N/A
ROIC(5y)N/A
EXM.BR Yearly ROA, ROE, ROICEXM.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

1.3 Margins

EXM has a Profit Margin of 56.24%. This is amongst the best in the industry. EXM outperforms 100.00% of its industry peers.
EXM's Profit Margin has improved in the last couple of years.
With a decent Operating Margin value of 29.88%, EXM is doing good in the industry, outperforming 77.94% of the companies in the same industry.
EXM's Operating Margin has improved in the last couple of years.
The Gross Margin of EXM (51.41%) is better than 60.29% of its industry peers.
In the last couple of years the Gross Margin of EXM has declined.
Industry RankSector Rank
OM 29.88%
PM (TTM) 56.24%
GM 51.41%
OM growth 3YN/A
OM growth 5Y71.38%
PM growth 3Y59.59%
PM growth 5YN/A
GM growth 3Y-0.13%
GM growth 5Y-5.23%
EXM.BR Yearly Profit, Operating, Gross MarginsEXM.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 150 200

7

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EXM is destroying value.
Compared to 1 year ago, EXM has about the same amount of shares outstanding.
Compared to 5 years ago, EXM has more shares outstanding
The debt/assets ratio for EXM is higher compared to a year ago.
EXM.BR Yearly Shares OutstandingEXM.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
EXM.BR Yearly Total Debt VS Total AssetsEXM.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

An Altman-Z score of 3.26 indicates that EXM is not in any danger for bankruptcy at the moment.
The Altman-Z score of EXM (3.26) is better than 82.35% of its industry peers.
EXM has a debt to FCF ratio of 3.59. This is a good value and a sign of high solvency as EXM would need 3.59 years to pay back of all of its debts.
EXM's Debt to FCF ratio of 3.59 is fine compared to the rest of the industry. EXM outperforms 75.00% of its industry peers.
A Debt/Equity ratio of 0.40 indicates that EXM is not too dependend on debt financing.
EXM has a Debt to Equity ratio of 0.40. This is in the better half of the industry: EXM outperforms 63.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 3.59
Altman-Z 3.26
ROIC/WACC0.96
WACC7.01%
EXM.BR Yearly LT Debt VS Equity VS FCFEXM.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

2.3 Liquidity

EXM has a Current Ratio of 4.36. This indicates that EXM is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of EXM (4.36) is better than 91.18% of its industry peers.
EXM has a Quick Ratio of 4.36. This indicates that EXM is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 4.36, EXM belongs to the top of the industry, outperforming 92.65% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.36
Quick Ratio 4.36
EXM.BR Yearly Current Assets VS Current LiabilitesEXM.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 29.29% over the past year.
The Earnings Per Share has been growing by 149.41% on average over the past years. This is a very strong growth
The Revenue for EXM has decreased by -42.41% in the past year. This is quite bad
The Revenue has been growing by 20.61% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)29.29%
EPS 3Y149.41%
EPS 5YN/A
EPS Q2Q%-36.15%
Revenue 1Y (TTM)-42.41%
Revenue growth 3Y56.58%
Revenue growth 5Y20.61%
Sales Q2Q%-36.95%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y-71.68%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-31.36%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EXM.BR Yearly Revenue VS EstimatesEXM.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
EXM.BR Yearly EPS VS EstimatesEXM.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1 2 3 4 5

5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 4.44, which indicates a rather cheap valuation of EXM.
97.06% of the companies in the same industry are more expensive than EXM, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of EXM to the average of the S&P500 Index (25.98), we can say EXM is valued rather cheaply.
A Price/Forward Earnings ratio of 37.10 indicates a quite expensive valuation of EXM.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXM indicates a slightly more expensive valuation: EXM is more expensive than 67.65% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.79, EXM is valued at the same level.
Industry RankSector Rank
PE 4.44
Fwd PE 37.1
EXM.BR Price Earnings VS Forward Price EarningsEXM.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

EXM's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, EXM is valued a bit cheaper than 64.71% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.69
EV/EBITDA 9.01
EXM.BR Per share dataEXM.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

EXM has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

0

5. Dividend

5.1 Amount

EXM does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

EXMAR NV

EBR:EXM (11/26/2025, 4:53:54 PM)

10.38

-0.5 (-4.6%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-07 2025-11-07
Earnings (Next)03-26 2026-03-26
Inst Owners0.53%
Inst Owner ChangeN/A
Ins Owners66.54%
Ins Owner ChangeN/A
Market Cap845.66M
Revenue(TTM)277.17M
Net Income(TTM)155.87M
Analysts45.71
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.73
Dividend Growth(5Y)13.32%
DP0%
Div Incr Years0
Div Non Decr Years0
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%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 4.44
Fwd PE 37.1
P/S 3.52
P/FCF 11.69
P/OCF 10.59
P/B 1.48
P/tB 1.48
EV/EBITDA 9.01
EPS(TTM)2.34
EY22.54%
EPS(NY)0.28
Fwd EY2.7%
FCF(TTM)0.89
FCFY8.55%
OCF(TTM)0.98
OCFY9.45%
SpS2.95
BVpS7.01
TBVpS7.01
PEG (NY)N/A
PEG (5Y)N/A
Graham Number19.21
Profitability
Industry RankSector Rank
ROA 15.18%
ROE 23.63%
ROCE 8.94%
ROIC 6.7%
ROICexc 10.3%
ROICexgc 10.31%
OM 29.88%
PM (TTM) 56.24%
GM 51.41%
FCFM 30.15%
ROA(3y)17.56%
ROA(5y)12.74%
ROE(3y)28.24%
ROE(5y)20.75%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y101.88%
ROICexc growth 3YN/A
ROICexc growth 5Y101.88%
OM growth 3YN/A
OM growth 5Y71.38%
PM growth 3Y59.59%
PM growth 5YN/A
GM growth 3Y-0.13%
GM growth 5Y-5.23%
F-Score5
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 3.59
Debt/EBITDA 2.35
Cap/Depr 30.98%
Cap/Sales 3.14%
Interest Coverage 4.43
Cash Conversion 83.19%
Profit Quality 53.61%
Current Ratio 4.36
Quick Ratio 4.36
Altman-Z 3.26
F-Score5
WACC7.01%
ROIC/WACC0.96
Cap/Depr(3y)43.44%
Cap/Depr(5y)123.17%
Cap/Sales(3y)6.94%
Cap/Sales(5y)37.22%
Profit Quality(3y)28.62%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)29.29%
EPS 3Y149.41%
EPS 5YN/A
EPS Q2Q%-36.15%
EPS Next Y-71.68%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-42.41%
Revenue growth 3Y56.58%
Revenue growth 5Y20.61%
Sales Q2Q%-36.95%
Revenue Next Year-31.36%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y31.25%
EBIT growth 3YN/A
EBIT growth 5Y106.7%
EBIT Next Year91.67%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y310.08%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y113%
OCF growth 3Y-22.37%
OCF growth 5YN/A

EXMAR NV / EXM.BR FAQ

Can you provide the ChartMill fundamental rating for EXMAR NV?

ChartMill assigns a fundamental rating of 6 / 10 to EXM.BR.


What is the valuation status of EXMAR NV (EXM.BR) stock?

ChartMill assigns a valuation rating of 5 / 10 to EXMAR NV (EXM.BR). This can be considered as Fairly Valued.


What is the profitability of EXM stock?

EXMAR NV (EXM.BR) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for EXM stock?

The Price/Earnings (PE) ratio for EXMAR NV (EXM.BR) is 4.44 and the Price/Book (PB) ratio is 1.48.


How financially healthy is EXMAR NV?

The financial health rating of EXMAR NV (EXM.BR) is 7 / 10.