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NEPI ROCKCASTLE N.V. (NRP.AS) Stock Fundamental Analysis

AMS:NRP - Euronext Amsterdam - NL0015000RT3 - Common Stock - Currency: EUR

6.52  -0.1 (-1.51%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to NRP. NRP was compared to 74 industry peers in the Real Estate Management & Development industry. While NRP has a great profitability rating, there are some minor concerns on its financial health. NRP may be a bit undervalued, certainly considering the very reasonable score on growth These ratings could make NRP a good candidate for value investing.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

NRP had positive earnings in the past year.
In the past year NRP had a positive cash flow from operations.
Of the past 5 years NRP 4 years were profitable.
In the past 5 years NRP always reported a positive cash flow from operatings.
NRP.AS Yearly Net Income VS EBIT VS OCF VS FCFNRP.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 0 200M -200M 400M -400M

1.2 Ratios

NRP's Return On Assets of 6.72% is amongst the best of the industry. NRP outperforms 95.95% of its industry peers.
Looking at the Return On Equity, with a value of 11.97%, NRP belongs to the top of the industry, outperforming 93.24% of the companies in the same industry.
NRP's Return On Invested Capital of 5.50% is amongst the best of the industry. NRP outperforms 93.24% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NRP is above the industry average of 3.47%.
The last Return On Invested Capital (5.50%) for NRP is above the 3 year average (5.49%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.72%
ROE 11.97%
ROIC 5.5%
ROA(3y)6.36%
ROA(5y)4%
ROE(3y)11.4%
ROE(5y)7.16%
ROIC(3y)5.49%
ROIC(5y)5.13%
NRP.AS Yearly ROA, ROE, ROICNRP.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10

1.3 Margins

With an excellent Profit Margin value of 68.85%, NRP belongs to the best of the industry, outperforming 94.59% of the companies in the same industry.
In the last couple of years the Profit Margin of NRP has remained more or less at the same level.
With an excellent Operating Margin value of 61.62%, NRP belongs to the best of the industry, outperforming 87.84% of the companies in the same industry.
In the last couple of years the Operating Margin of NRP has declined.
NRP has a Gross Margin of 65.75%. This is in the better half of the industry: NRP outperforms 63.51% of its industry peers.
In the last couple of years the Gross Margin of NRP has remained more or less at the same level.
Industry RankSector Rank
OM 61.62%
PM (TTM) 68.85%
GM 65.75%
OM growth 3Y3%
OM growth 5Y-1.68%
PM growth 3Y16.29%
PM growth 5Y-0.69%
GM growth 3Y-1.09%
GM growth 5Y-0.85%
NRP.AS Yearly Profit, Operating, Gross MarginsNRP.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NRP is destroying value.
The number of shares outstanding for NRP has been increased compared to 1 year ago.
The number of shares outstanding for NRP has been increased compared to 5 years ago.
The debt/assets ratio for NRP is higher compared to a year ago.
NRP.AS Yearly Shares OutstandingNRP.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
NRP.AS Yearly Total Debt VS Total AssetsNRP.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 1.34, we must say that NRP is in the distress zone and has some risk of bankruptcy.
NRP's Altman-Z score of 1.34 is fine compared to the rest of the industry. NRP outperforms 71.62% of its industry peers.
NRP has a debt to FCF ratio of 7.28. This is a slightly negative value and a sign of low solvency as NRP would need 7.28 years to pay back of all of its debts.
NRP has a better Debt to FCF ratio (7.28) than 85.14% of its industry peers.
A Debt/Equity ratio of 0.61 indicates that NRP is somewhat dependend on debt financing.
NRP's Debt to Equity ratio of 0.61 is fine compared to the rest of the industry. NRP outperforms 63.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 7.28
Altman-Z 1.34
ROIC/WACC0.94
WACC5.85%
NRP.AS Yearly LT Debt VS Equity VS FCFNRP.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.3 Liquidity

A Current Ratio of 2.34 indicates that NRP has no problem at all paying its short term obligations.
With a decent Current ratio value of 2.34, NRP is doing good in the industry, outperforming 72.97% of the companies in the same industry.
A Quick Ratio of 2.32 indicates that NRP has no problem at all paying its short term obligations.
NRP's Quick ratio of 2.32 is fine compared to the rest of the industry. NRP outperforms 77.03% of its industry peers.
Industry RankSector Rank
Current Ratio 2.34
Quick Ratio 2.32
NRP.AS Yearly Current Assets VS Current LiabilitesNRP.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 16.19% over the past year.
The Earnings Per Share has been growing slightly by 5.63% on average over the past years.
The Revenue has grown by 10.21% in the past year. This is quite good.
The Revenue has been growing slightly by 7.88% on average over the past years.
EPS 1Y (TTM)16.19%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%25.67%
Revenue 1Y (TTM)10.21%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%9.5%

3.2 Future

NRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.11% yearly.
Based on estimates for the next years, NRP will show a quite strong growth in Revenue. The Revenue will grow by 9.13% on average per year.
EPS Next Y3.43%
EPS Next 2Y4.68%
EPS Next 3Y5.11%
EPS Next 5YN/A
Revenue Next Year13.54%
Revenue Next 2Y9.55%
Revenue Next 3Y9.13%
Revenue Next 5YN/A

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 stable.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NRP.AS Yearly Revenue VS EstimatesNRP.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M
NRP.AS Yearly EPS VS EstimatesNRP.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6

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7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.41 indicates a rather cheap valuation of NRP.
91.89% of the companies in the same industry are more expensive than NRP, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.30. NRP is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.26, the valuation of NRP can be described as very reasonable.
NRP's Price/Forward Earnings ratio is rather cheap when compared to the industry. NRP is cheaper than 82.43% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.76. NRP is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 7.41
Fwd PE 10.26
NRP.AS Price Earnings VS Forward Price EarningsNRP.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, NRP is valued cheaply inside the industry as 81.08% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, NRP is valued a bit cheaper than 72.97% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.09
EV/EBITDA 13.86
NRP.AS Per share dataNRP.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NRP does not grow enough to justify the current Price/Earnings ratio.
NRP has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.16
PEG (5Y)1.32
EPS Next 2Y4.68%
EPS Next 3Y5.11%

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0

5. Dividend

5.1 Amount

No dividends for NRP!.
Industry RankSector Rank
Dividend Yield N/A

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NEPI ROCKCASTLE N.V.

AMS:NRP (7/11/2025, 7:00:00 PM)

6.52

-0.1 (-1.51%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)02-25 2025-02-25/amc
Earnings (Next)08-19 2025-08-19
Inst Owners40.78%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap4.64B
Analysts76.67
Price Target0.37 (-94.33%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.4
Dividend Growth(5Y)8.91%
DP47.14%
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)8.22%
PT rev (3m)-1.83%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.8%
Valuation
Industry RankSector Rank
PE 7.41
Fwd PE 10.26
P/S 5.44
P/FCF 11.09
P/OCF 10.82
P/B 0.95
P/tB 0.96
EV/EBITDA 13.86
EPS(TTM)0.88
EY13.5%
EPS(NY)0.64
Fwd EY9.74%
FCF(TTM)0.59
FCFY9.02%
OCF(TTM)0.6
OCFY9.24%
SpS1.2
BVpS6.89
TBVpS6.78
PEG (NY)2.16
PEG (5Y)1.32
Profitability
Industry RankSector Rank
ROA 6.72%
ROE 11.97%
ROCE 6.19%
ROIC 5.5%
ROICexc 5.8%
ROICexgc 5.86%
OM 61.62%
PM (TTM) 68.85%
GM 65.75%
FCFM 49.08%
ROA(3y)6.36%
ROA(5y)4%
ROE(3y)11.4%
ROE(5y)7.16%
ROIC(3y)5.49%
ROIC(5y)5.13%
ROICexc(3y)5.75%
ROICexc(5y)5.47%
ROICexgc(3y)5.82%
ROICexgc(5y)5.54%
ROCE(3y)6.18%
ROCE(5y)5.77%
ROICexcg growth 3Y8.52%
ROICexcg growth 5Y1.44%
ROICexc growth 3Y8.62%
ROICexc growth 5Y1.47%
OM growth 3Y3%
OM growth 5Y-1.68%
PM growth 3Y16.29%
PM growth 5Y-0.69%
GM growth 3Y-1.09%
GM growth 5Y-0.85%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 7.28
Debt/EBITDA 5.71
Cap/Depr 503.41%
Cap/Sales 1.21%
Interest Coverage 5.07
Cash Conversion 81.28%
Profit Quality 71.27%
Current Ratio 2.34
Quick Ratio 2.32
Altman-Z 1.34
F-Score5
WACC5.85%
ROIC/WACC0.94
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)72.28%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)16.19%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%25.67%
EPS Next Y3.43%
EPS Next 2Y4.68%
EPS Next 3Y5.11%
EPS Next 5YN/A
Revenue 1Y (TTM)10.21%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%9.5%
Revenue Next Year13.54%
Revenue Next 2Y9.55%
Revenue Next 3Y9.13%
Revenue Next 5YN/A
EBIT growth 1Y14.18%
EBIT growth 3Y20.22%
EBIT growth 5Y6.07%
EBIT Next Year17.19%
EBIT Next 3Y10.37%
EBIT Next 5YN/A
FCF growth 1Y14.14%
FCF growth 3Y17.52%
FCF growth 5Y5.7%
OCF growth 1Y16.96%
OCF growth 3Y18.48%
OCF growth 5Y6.21%