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

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

7.35  +0.15 (+2.08%)

Fundamental Rating

6

Taking everything into account, NRP scores 6 out of 10 in our fundamental rating. NRP was compared to 71 industry peers in the Real Estate Management & Development industry. NRP scores excellent on profitability, but there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on NRP.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year NRP was profitable.
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 0 200M -200M 400M -400M

1.2 Ratios

NRP's Return On Assets of 6.34% is amongst the best of the industry. NRP outperforms 94.64% of its industry peers.
Looking at the Return On Equity, with a value of 11.67%, NRP belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
The Return On Invested Capital of NRP (5.79%) is better than 89.29% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NRP is in line with the industry average of 4.27%.
The last Return On Invested Capital (5.79%) for NRP is above the 3 year average (4.94%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.34%
ROE 11.67%
ROIC 5.79%
ROA(3y)5.3%
ROA(5y)3.85%
ROE(3y)9.52%
ROE(5y)6.8%
ROIC(3y)4.94%
ROIC(5y)4.94%
NRP.AS Yearly ROA, ROE, ROICNRP.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10 -10

1.3 Margins

The Profit Margin of NRP (63.37%) is better than 89.29% of its industry peers.
NRP's Profit Margin has improved in the last couple of years.
NRP has a better Operating Margin (60.62%) than 80.36% of its industry peers.
In the last couple of years the Operating Margin of NRP has declined.
The Gross Margin of NRP (64.98%) is better than 60.71% of its industry peers.
NRP's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 60.62%
PM (TTM) 63.37%
GM 64.98%
OM growth 3Y-3.46%
OM growth 5Y-3.31%
PM growth 3YN/A
PM growth 5Y6.85%
GM growth 3Y-2.57%
GM growth 5Y-1.55%
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 0 50 -50 -100 -150

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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), NRP is creating some 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.
Compared to 1 year ago, NRP has an improved debt to assets ratio.
NRP.AS Yearly Shares OutstandingNRP.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 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 2B 4B 6B

2.2 Solvency

Based on the Altman-Z score of 1.40, we must say that NRP is in the distress zone and has some risk of bankruptcy.
NRP's Altman-Z score of 1.40 is fine compared to the rest of the industry. NRP outperforms 78.57% of its industry peers.
The Debt to FCF ratio of NRP is 8.41, which is on the high side as it means it would take NRP, 8.41 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.41, NRP belongs to the top of the industry, outperforming 83.93% of the companies in the same industry.
A Debt/Equity ratio of 0.55 indicates that NRP is somewhat dependend on debt financing.
NRP has a Debt to Equity ratio of 0.55. This is comparable to the rest of the industry: NRP outperforms 58.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF 8.41
Altman-Z 1.4
ROIC/WACC1.04
WACC5.57%
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 1B 2B 3B 4B

2.3 Liquidity

NRP has a Current Ratio of 1.12. This is a normal value and indicates that NRP is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of NRP (1.12) is worse than 62.50% of its industry peers.
NRP has a Quick Ratio of 1.11. This is a normal value and indicates that NRP is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Quick ratio value of 1.11, NRP is doing good in the industry, outperforming 66.07% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.12
Quick Ratio 1.11
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 200M 400M 600M 800M

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5

3. Growth

3.1 Past

The earnings per share for NRP have decreased by -7.41% in the last year.
NRP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.35% yearly.
Looking at the last year, NRP shows a quite strong growth in Revenue. The Revenue has grown by 16.25% in the last year.
Measured over the past years, NRP shows a quite strong growth in Revenue. The Revenue has been growing by 9.06% on average per year.
EPS 1Y (TTM)-7.41%
EPS 3YN/A
EPS 5Y15.35%
EPS Q2Q%8.58%
Revenue 1Y (TTM)16.25%
Revenue growth 3Y13.01%
Revenue growth 5Y9.06%
Sales Q2Q%10.94%

3.2 Future

Based on estimates for the next years, NRP will show a small growth in Earnings Per Share. The EPS will grow by 6.93% on average per year.
The Revenue is expected to grow by 16.38% on average over the next years. This is quite good.
EPS Next Y10.89%
EPS Next 2Y8.59%
EPS Next 3Y6.93%
EPS Next 5YN/A
Revenue Next Year35.38%
Revenue Next 2Y21.29%
Revenue Next 3Y16.38%
Revenue Next 5YN/A

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 accelerating.
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 200M 400M 600M
NRP.AS Yearly EPS VS EstimatesNRP.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

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7

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.30, the valuation of NRP can be described as very reasonable.
Based on the Price/Earnings ratio, NRP is valued cheaper than 89.29% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.47, NRP is valued rather cheaply.
The Price/Forward Earnings ratio is 11.21, which indicates a very decent valuation of NRP.
Based on the Price/Forward Earnings ratio, NRP is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
NRP is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.3
Fwd PE 11.21
NRP.AS Price Earnings VS Forward Price EarningsNRP.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

NRP's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NRP is cheaper than 78.57% of the companies in the same industry.
62.50% of the companies in the same industry are more expensive than NRP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 14.59
EV/EBITDA 15.28
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

NRP's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NRP has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.85
PEG (5Y)0.61
EPS Next 2Y8.59%
EPS Next 3Y6.93%

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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 (2/4/2025, 7:00:00 PM)

7.35

+0.15 (+2.08%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-21 2024-11-21
Earnings (Next)N/A N/A
Inst Owners53.95%
Inst Owner ChangeN/A
Ins Owners0.2%
Ins Owner ChangeN/A
Market Cap5.24B
Analysts71.67
Price Target0.41 (-94.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.11
Dividend Growth(5Y)-1.16%
DP40.88%
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)-94.89%
PT rev (3m)-94.73%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)3.59%
EPS NY rev (3m)3.59%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)8.05%
Revenue NY rev (3m)8.05%
Valuation
Industry RankSector Rank
PE 9.3
Fwd PE 11.21
P/S 6.41
P/FCF 14.59
P/OCF 14.59
P/B 1.18
P/tB 1.2
EV/EBITDA 15.28
EPS(TTM)0.79
EY10.75%
EPS(NY)0.66
Fwd EY8.92%
FCF(TTM)0.5
FCFY6.85%
OCF(TTM)0.5
OCFY6.85%
SpS1.15
BVpS6.22
TBVpS6.12
PEG (NY)0.85
PEG (5Y)0.61
Profitability
Industry RankSector Rank
ROA 6.34%
ROE 11.67%
ROCE 6.66%
ROIC 5.79%
ROICexc 6.37%
ROICexgc 6.44%
OM 60.62%
PM (TTM) 63.37%
GM 64.98%
FCFM 43.95%
ROA(3y)5.3%
ROA(5y)3.85%
ROE(3y)9.52%
ROE(5y)6.8%
ROIC(3y)4.94%
ROIC(5y)4.94%
ROICexc(3y)5.22%
ROICexc(5y)5.28%
ROICexgc(3y)5.28%
ROICexgc(5y)5.34%
ROCE(3y)5.68%
ROCE(5y)5.68%
ROICexcg growth 3Y3.95%
ROICexcg growth 5Y2.87%
ROICexc growth 3Y3.99%
ROICexc growth 5Y2.94%
OM growth 3Y-3.46%
OM growth 5Y-3.31%
PM growth 3YN/A
PM growth 5Y6.85%
GM growth 3Y-2.57%
GM growth 5Y-1.55%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF 8.41
Debt/EBITDA 4.95
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.3
Cash Conversion 72.3%
Profit Quality 69.36%
Current Ratio 1.12
Quick Ratio 1.11
Altman-Z 1.4
F-Score5
WACC5.57%
ROIC/WACC1.04
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)85.12%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-7.41%
EPS 3YN/A
EPS 5Y15.35%
EPS Q2Q%8.58%
EPS Next Y10.89%
EPS Next 2Y8.59%
EPS Next 3Y6.93%
EPS Next 5YN/A
Revenue 1Y (TTM)16.25%
Revenue growth 3Y13.01%
Revenue growth 5Y9.06%
Sales Q2Q%10.94%
Revenue Next Year35.38%
Revenue Next 2Y21.29%
Revenue Next 3Y16.38%
Revenue Next 5YN/A
EBIT growth 1Y11.92%
EBIT growth 3Y9.1%
EBIT growth 5Y5.45%
EBIT Next Year10.8%
EBIT Next 3Y9.17%
EBIT Next 5YN/A
FCF growth 1Y18.29%
FCF growth 3Y15.78%
FCF growth 5Y5.41%
OCF growth 1Y18.29%
OCF growth 3Y15.78%
OCF growth 5Y5.41%