VASTNED NV (VASTB.BR) Stock Fundamental Analysis
Europe • Euronext Brussels • EBR:VASTB • BE0003754687
30.45 EUR
+0.15 (+0.5%)
Last: Feb 3, 2026, 10:47 AM
We assign a fundamental rating of 3 out of 10 to VASTB. VASTB was compared to 42 industry peers in the Diversified REITs industry. VASTB has a medium profitability rating, but doesn't score so well on its financial health evaluation. VASTB is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year VASTB was profitable.
- In the past year VASTB had a positive cash flow from operations.
- 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
- VASTB has a Return On Assets of 0.83%. This is in the lower half of the industry: VASTB underperforms 61.90% of its industry peers.
- With a Return On Equity value of 1.52%, VASTB is not doing good in the industry: 64.29% of the companies in the same industry are doing better.
- VASTB has a worse Return On Invested Capital (0.88%) than 83.33% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for VASTB is in line with the industry average of 3.37%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 1.52% | ||
| ROIC | 0.88% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.57%
ROIC(5y)3.48%
1.3 Margins
- VASTB has a Profit Margin of 58.39%. This is in the better half of the industry: VASTB outperforms 71.43% of its industry peers.
- VASTB's Profit Margin has improved in the last couple of years.
- Looking at the Operating Margin, with a value of 72.59%, VASTB is in line with its industry, outperforming 57.14% of the companies in the same industry.
- VASTB's Operating Margin has declined in the last couple of years.
- With an excellent Gross Margin value of 92.60%, VASTB belongs to the best of the industry, outperforming 90.48% of the companies in the same industry.
- VASTB's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 72.59% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% |
OM growth 3Y-5.41%
OM growth 5Y-3.34%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
2. Health
2.1 Basic Checks
- VASTB has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- VASTB has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for VASTB remains at a similar level compared to 5 years ago.
- The debt/assets ratio for VASTB is higher compared to a year ago.
2.2 Solvency
- Based on the Altman-Z score of 0.59, we must say that VASTB is in the distress zone and has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 0.59, VASTB is doing worse than 66.67% of the companies in the same industry.
- The Debt to FCF ratio of VASTB is 21.37, which is on the high side as it means it would take VASTB, 21.37 years of fcf income to pay off all of its debts.
- VASTB's Debt to FCF ratio of 21.37 is in line compared to the rest of the industry. VASTB outperforms 40.48% of its industry peers.
- A Debt/Equity ratio of 0.56 indicates that VASTB is somewhat dependend on debt financing.
- The Debt to Equity ratio of VASTB (0.56) is better than 69.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 21.37 | ||
| Altman-Z | 0.59 |
ROIC/WACC0.12
WACC7.22%
2.3 Liquidity
- A Current Ratio of 0.11 indicates that VASTB may have some problems paying its short term obligations.
- VASTB has a worse Current ratio (0.11) than 85.71% of its industry peers.
- VASTB has a Quick Ratio of 0.11. This is a bad value and indicates that VASTB is not financially healthy enough and could expect problems in meeting its short term obligations.
- With a Quick ratio value of 0.11, VASTB is not doing good in the industry: 85.71% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.11 | ||
| Quick Ratio | 0.11 |
3. Growth
3.1 Past
- The earnings per share for VASTB have decreased by -5.73% 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.
- Looking at the last year, VASTB shows a decrease in Revenue. The Revenue has decreased by -1.52% in the last year.
- 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)-5.73%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%86.35%
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%617.7%
3.2 Future
- The Earnings Per Share is expected to grow by 10.63% on average over the next years. This is quite good.
- The Revenue is expected to grow by 2.33% on average over the next years.
EPS Next Y77.3%
EPS Next 2Y14.84%
EPS Next 3Y10.63%
EPS Next 5YN/A
Revenue Next Year1.93%
Revenue Next 2Y2.43%
Revenue Next 3Y2.33%
Revenue Next 5YN/A
3.3 Evolution
- The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 14.50, the valuation of VASTB can be described as correct.
- VASTB's Price/Earnings is on the same level as the industry average.
- VASTB is valuated rather cheaply when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
- With a Price/Forward Earnings ratio of 12.12, VASTB is valued correctly.
- VASTB's Price/Forward Earnings is on the same level as the industry average.
- VASTB is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.64, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.5 | ||
| Fwd PE | 12.12 |
4.2 Price Multiples
- VASTB's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. VASTB is more expensive than 76.19% of the companies in the same industry.
- 76.19% of the companies in the same industry are cheaper than VASTB, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25 | ||
| EV/EBITDA | 80.64 |
4.3 Compensation for Growth
- VASTB's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.19
PEG (5Y)0.73
EPS Next 2Y14.84%
EPS Next 3Y10.63%
5. Dividend
5.1 Amount
- VASTB has a Yearly Dividend Yield of 4.17%, which is a nice return.
- VASTB's Dividend Yield is comparable with the industry average which is at 5.30.
- VASTB's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.17% |
5.2 History
- The dividend of VASTB is nicely growing with an annual growth rate of 10.30%!
Dividend Growth(5Y)10.3%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
- VASTB pays out 128.76% of its income as dividend. This is not a sustainable payout ratio.
- The dividend of VASTB is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP128.76%
EPS Next 2Y14.84%
EPS Next 3Y10.63%
EBR:VASTB (2/3/2026, 10:47:00 AM)
30.45
+0.15 (+0.5%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)10-24 2025-10-24
Earnings (Next)02-27 2026-02-27
Inst Owners13.49%
Inst Owner ChangeN/A
Ins Owners44.93%
Ins Owner ChangeN/A
Market Cap592.86M
Revenue(TTM)18.23M
Net Income(TTM)10.64M
Analysts46
Price Target31.62 (3.84%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.17% |
Yearly Dividend4.65
Dividend Growth(5Y)10.3%
DP128.76%
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%
PT rev (3m)2.2%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.46%
EPS NY rev (3m)0.92%
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 | 14.5 | ||
| Fwd PE | 12.12 | ||
| P/S | 32.53 | ||
| P/FCF | 25 | ||
| P/OCF | 24.5 | ||
| P/B | 0.84 | ||
| P/tB | 0.84 | ||
| EV/EBITDA | 80.64 |
EPS(TTM)2.1
EY6.9%
EPS(NY)2.51
Fwd EY8.25%
FCF(TTM)1.22
FCFY4%
OCF(TTM)1.24
OCFY4.08%
SpS0.94
BVpS36.07
TBVpS36.07
PEG (NY)0.19
PEG (5Y)0.73
Graham Number41.28
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 1.52% | ||
| ROCE | 1.17% | ||
| ROIC | 0.88% | ||
| ROICexc | 0.88% | ||
| ROICexgc | 0.88% | ||
| OM | 72.59% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% | ||
| FCFM | 130.13% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.57%
ROIC(5y)3.48%
ROICexc(3y)3.58%
ROICexc(5y)3.49%
ROICexgc(3y)3.58%
ROICexgc(5y)3.49%
ROCE(3y)4.76%
ROCE(5y)4.64%
ROICexgc growth 3Y-4.16%
ROICexgc growth 5Y-2.55%
ROICexc growth 3Y-4.15%
ROICexc growth 5Y-2.54%
OM growth 3Y-5.41%
OM growth 5Y-3.34%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
F-Score3
Asset Turnover0.01
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 21.37 | ||
| Debt/EBITDA | 28.85 | ||
| Cap/Depr | 139.07% | ||
| Cap/Sales | 2.62% | ||
| Interest Coverage | 1.66 | ||
| Cash Conversion | 178.25% | ||
| Profit Quality | 222.87% | ||
| Current Ratio | 0.11 | ||
| Quick Ratio | 0.11 | ||
| Altman-Z | 0.59 |
F-Score3
WACC7.22%
ROIC/WACC0.12
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)-5.73%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%86.35%
EPS Next Y77.3%
EPS Next 2Y14.84%
EPS Next 3Y10.63%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%617.7%
Revenue Next Year1.93%
Revenue Next 2Y2.43%
Revenue Next 3Y2.33%
Revenue Next 5YN/A
EBIT growth 1Y-18.46%
EBIT growth 3Y-3.21%
EBIT growth 5Y-4.36%
EBIT Next Year15.91%
EBIT Next 3Y7.94%
EBIT Next 5YN/A
FCF growth 1Y70.3%
FCF growth 3Y-13.18%
FCF growth 5Y-7.5%
OCF growth 1Y73.18%
OCF growth 3Y-11.87%
OCF growth 5Y-6.94%
VASTNED NV / VASTB.BR FAQ
What is the fundamental rating for VASTB stock?
ChartMill assigns a fundamental rating of 3 / 10 to VASTB.BR.
What is the valuation status of VASTNED NV (VASTB.BR) stock?
ChartMill assigns a valuation rating of 4 / 10 to VASTNED NV (VASTB.BR). This can be considered as Fairly Valued.
How profitable is VASTNED NV (VASTB.BR) stock?
VASTNED NV (VASTB.BR) has a profitability rating of 4 / 10.
What are the PE and PB ratios of VASTNED NV (VASTB.BR) stock?
The Price/Earnings (PE) ratio for VASTNED NV (VASTB.BR) is 14.5 and the Price/Book (PB) ratio is 0.84.
Is the dividend of VASTNED NV sustainable?
The dividend rating of VASTNED NV (VASTB.BR) is 6 / 10 and the dividend payout ratio is 128.76%.