VASTNED NV (VASTB.BR) Stock Fundamental Analysis
EBR:VASTB - Euronext Brussels - BE0003754687 - REIT - Currency: EUR
We assign a fundamental rating of 4 out of 10 to VASTB. VASTB was compared to 40 industry peers in the Diversified REITs industry. VASTB has only an average score on both its financial health and profitability. VASTB has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year VASTB was profitable.
VASTB had a positive operating cash flow in the past year.
Of the past 5 years VASTB 4 years were profitable.
VASTB had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of VASTB (3.24%) is better than 70.00% of its industry peers.
The Return On Equity of VASTB (4.86%) is comparable to the rest of the industry.
The Return On Invested Capital of VASTB (3.54%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for VASTB is in line with the industry average of 3.63%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 4.86% | ||
| ROIC | 3.54% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.71%
ROIC(5y)3.57%
1.3 Margins
Looking at the Profit Margin, with a value of 58.39%, VASTB is in the better half of the industry, outperforming 65.00% of the companies in the same industry.
VASTB's Profit Margin has improved in the last couple of years.
The Operating Margin of VASTB (83.64%) is better than 82.50% of its industry peers.
VASTB's Operating Margin has been stable in the last couple of years.
With an excellent Gross Margin value of 92.60%, VASTB belongs to the best of the industry, outperforming 82.50% of the companies in the same industry.
In the last couple of years the Gross Margin of VASTB has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 83.64% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% |
OM growth 3Y-0.84%
OM growth 5Y-0.56%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VASTB is destroying value.
VASTB has about the same amout of shares outstanding than it did 1 year ago.
VASTB has about the same amout of shares outstanding than it did 5 years ago.
VASTB has a worse debt/assets ratio than last year.
2.2 Solvency
VASTB has an Altman-Z score of 4.15. This indicates that VASTB is financially healthy and has little risk of bankruptcy at the moment.
VASTB has a better Altman-Z score (4.15) than 100.00% of its industry peers.
The Debt to FCF ratio of VASTB is 10.98, which is on the high side as it means it would take VASTB, 10.98 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 10.98, VASTB perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
VASTB has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.
With an excellent Debt to Equity ratio value of 0.46, VASTB belongs to the best of the industry, outperforming 92.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 10.98 | ||
| Altman-Z | 4.15 |
ROIC/WACC0.5
WACC7.1%
2.3 Liquidity
VASTB has a Current Ratio of 0.99. This is a bad value and indicates that VASTB is not financially healthy enough and could expect problems in meeting its short term obligations.
VASTB has a Current ratio of 0.99. This is in the better half of the industry: VASTB outperforms 70.00% of its industry peers.
VASTB has a Quick Ratio of 0.99. This is a bad value and indicates that VASTB is not financially healthy enough and could expect problems in meeting its short term obligations.
VASTB has a Quick ratio of 0.99. This is in the better half of the industry: VASTB outperforms 72.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.99 |
3. Growth
3.1 Past
The earnings per share for VASTB have decreased by -5.65% in the last year.
Measured over the past years, VASTB shows a quite strong growth in Earnings Per Share. The EPS has been growing by 19.77% on average per year.
VASTB shows a decrease in Revenue. In the last year, the revenue decreased by -1.52%.
Measured over the past years, VASTB shows a decrease in Revenue. The Revenue has been decreasing by -1.05% on average per year.
EPS 1Y (TTM)-5.65%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.45%
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%-0.89%
3.2 Future
Based on estimates for the next years, VASTB will show a small growth in Earnings Per Share. The EPS will grow by 4.75% on average per year.
The Revenue is expected to decrease by -1.76% on average over the next years.
EPS Next Y1.62%
EPS Next 2Y4.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-5.51%
Revenue Next 2Y-1.76%
Revenue Next 3YN/A
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 decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
VASTB is valuated correctly with a Price/Earnings ratio of 15.29.
Compared to the rest of the industry, the Price/Earnings ratio of VASTB is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 27.29, VASTB is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 16.58, the valuation of VASTB can be described as correct.
72.50% of the companies in the same industry are cheaper than VASTB, based on the Price/Forward Earnings ratio.
VASTB is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.74, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.29 | ||
| Fwd PE | 16.58 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VASTB is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
Based on the Price/Free Cash Flow ratio, VASTB is valued expensively inside the industry as 82.50% of the companies are valued cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 67.66 | ||
| EV/EBITDA | 46.86 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VASTB does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of VASTB may justify a higher PE ratio.
PEG (NY)9.43
PEG (5Y)0.77
EPS Next 2Y4.75%
EPS Next 3YN/A
5. Dividend
5.1 Amount
VASTB has a Yearly Dividend Yield of 7.26%, which is a nice return.
Compared to an average industry Dividend Yield of 5.54, VASTB pays a better dividend. On top of this VASTB pays more dividend than 90.00% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.37, VASTB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.26% |
5.2 History
On average, the dividend of VASTB grows each year by 10.30%, which is quite nice.
Dividend Growth(5Y)10.3%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
222.06% of the earnings are spent on dividend by VASTB. This is not a sustainable payout ratio.
The dividend of VASTB is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP222.06%
EPS Next 2Y4.75%
EPS Next 3YN/A
EBR:VASTB (7/8/2025, 9:15:07 AM)
32.1
-0.2 (-0.62%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners6.38%
Inst Owner ChangeN/A
Ins Owners39.23%
Ins Owner ChangeN/A
Market Cap624.99M
Analysts40
Price Target30.09 (-6.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.26% |
Yearly Dividend4.65
Dividend Growth(5Y)10.3%
DP222.06%
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)9.26%
PT rev (3m)9.26%
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.29 | ||
| Fwd PE | 16.58 | ||
| P/S | 34.29 | ||
| P/FCF | 67.66 | ||
| P/OCF | 64.48 | ||
| P/B | 2.85 | ||
| P/tB | 2.85 | ||
| EV/EBITDA | 46.86 |
EPS(TTM)2.1
EY6.54%
EPS(NY)1.94
Fwd EY6.03%
FCF(TTM)0.47
FCFY1.48%
OCF(TTM)0.5
OCFY1.55%
SpS0.94
BVpS11.26
TBVpS11.26
PEG (NY)9.43
PEG (5Y)0.77
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 4.86% | ||
| ROCE | 4.72% | ||
| ROIC | 3.54% | ||
| ROICexc | 3.55% | ||
| ROICexgc | 3.55% | ||
| OM | 83.64% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% | ||
| FCFM | 50.68% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.71%
ROIC(5y)3.57%
ROICexc(3y)3.72%
ROICexc(5y)3.57%
ROICexgc(3y)3.72%
ROICexgc(5y)3.57%
ROCE(3y)4.95%
ROCE(5y)4.75%
ROICexcg growth 3Y0.47%
ROICexcg growth 5Y0.25%
ROICexc growth 3Y0.48%
ROICexc growth 5Y0.26%
OM growth 3Y-0.84%
OM growth 5Y-0.56%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
F-Score2
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 10.98 | ||
| Debt/EBITDA | 6.5 | ||
| Cap/Depr | 138.3% | ||
| Cap/Sales | 2.5% | ||
| Interest Coverage | 5.36 | ||
| Cash Conversion | 62.23% | ||
| Profit Quality | 86.8% | ||
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.99 | ||
| Altman-Z | 4.15 |
F-Score2
WACC7.1%
ROIC/WACC0.5
Cap/Depr(3y)70.59%
Cap/Depr(5y)46.65%
Cap/Sales(3y)1.07%
Cap/Sales(5y)0.74%
Profit Quality(3y)101.93%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.65%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.45%
EPS Next Y1.62%
EPS Next 2Y4.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%-0.89%
Revenue Next Year-5.51%
Revenue Next 2Y-1.76%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-5.55%
EBIT growth 3Y1.47%
EBIT growth 5Y-1.61%
EBIT Next Year14.86%
EBIT Next 3Y10.49%
EBIT Next 5YN/A
FCF growth 1Y-36.08%
FCF growth 3Y-13.18%
FCF growth 5Y-7.5%
OCF growth 1Y-33.48%
OCF growth 3Y-11.87%
OCF growth 5Y-6.94%