WAREHOUSES ESTATES BELGIUM (WEB.BR) Stock Fundamental Analysis

EBR:WEB • BE0003734481

41.6 EUR
+0.2 (+0.48%)
Last: Feb 17, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

WEB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 41 industry peers in the Diversified REITs industry. While WEB has a great profitability rating, there are quite some concerns on its financial health. WEB is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • WEB had positive earnings in the past year.
  • In the past year WEB had a positive cash flow from operations.
  • WEB had positive earnings in each of the past 5 years.
  • In the past 5 years WEB always reported a positive cash flow from operatings.
WEB.BR Yearly Net Income VS EBIT VS OCF VS FCFWEB.BR 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 5M 10M 15M 20M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 3.22%, WEB is in the better half of the industry, outperforming 68.29% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 6.36%, WEB is in the better half of the industry, outperforming 68.29% of the companies in the same industry.
  • WEB has a Return On Invested Capital of 4.70%. This is amongst the best in the industry. WEB outperforms 87.80% of its industry peers.
  • WEB had an Average Return On Invested Capital over the past 3 years of 4.53%. This is in line with the industry average of 3.45%.
  • The 3 year average ROIC (4.53%) for WEB is below the current ROIC(4.70%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.22%
ROE 6.36%
ROIC 4.7%
ROA(3y)3.25%
ROA(5y)3.53%
ROE(3y)6.07%
ROE(5y)6.63%
ROIC(3y)4.53%
ROIC(5y)4.35%
WEB.BR Yearly ROA, ROE, ROICWEB.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • WEB has a Profit Margin of 44.23%. This is comparable to the rest of the industry: WEB outperforms 58.54% of its industry peers.
  • In the last couple of years the Profit Margin of WEB has declined.
  • Looking at the Operating Margin, with a value of 79.69%, WEB is in the better half of the industry, outperforming 75.61% of the companies in the same industry.
  • In the last couple of years the Operating Margin of WEB has remained more or less at the same level.
  • With an excellent Gross Margin value of 97.60%, WEB belongs to the best of the industry, outperforming 95.12% of the companies in the same industry.
  • In the last couple of years the Gross Margin of WEB has remained more or less at the same level.
Industry RankSector Rank
OM 79.69%
PM (TTM) 44.23%
GM 97.6%
OM growth 3Y-2.45%
OM growth 5Y-0.08%
PM growth 3Y-17.16%
PM growth 5Y-4.35%
GM growth 3Y0.85%
GM growth 5Y0.33%
WEB.BR Yearly Profit, Operating, Gross MarginsWEB.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80 100

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), WEB is destroying value.
  • The number of shares outstanding for WEB has been increased compared to 1 year ago.
  • Compared to 5 years ago, WEB has more shares outstanding
  • The debt/assets ratio for WEB has been reduced compared to a year ago.
WEB.BR Yearly Shares OutstandingWEB.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M
WEB.BR Yearly Total Debt VS Total AssetsWEB.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • WEB has an Altman-Z score of 0.85. This is a bad value and indicates that WEB is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.85, WEB is in line with its industry, outperforming 46.34% of the companies in the same industry.
  • WEB has a debt to FCF ratio of 11.77. This is a negative value and a sign of low solvency as WEB would need 11.77 years to pay back of all of its debts.
  • WEB's Debt to FCF ratio of 11.77 is in line compared to the rest of the industry. WEB outperforms 56.10% of its industry peers.
  • WEB has a Debt/Equity ratio of 0.82. This is a neutral value indicating WEB is somewhat dependend on debt financing.
  • WEB has a Debt to Equity ratio of 0.82. This is in the lower half of the industry: WEB underperforms 65.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 11.77
Altman-Z 0.85
ROIC/WACC0.89
WACC5.28%
WEB.BR Yearly LT Debt VS Equity VS FCFWEB.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.3 Liquidity

  • A Current Ratio of 0.33 indicates that WEB may have some problems paying its short term obligations.
  • With a Current ratio value of 0.33, WEB is not doing good in the industry: 60.98% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.33 indicates that WEB may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.33, WEB perfoms like the industry average, outperforming 43.90% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.33
Quick Ratio 0.33
WEB.BR Yearly Current Assets VS Current LiabilitesWEB.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 57.18% over the past year.
  • Measured over the past years, WEB shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.07% on average per year.
  • WEB shows a small growth in Revenue. In the last year, the Revenue has grown by 4.55%.
  • Measured over the past years, WEB shows a small growth in Revenue. The Revenue has been growing by 5.96% on average per year.
EPS 1Y (TTM)57.18%
EPS 3Y-10.85%
EPS 5Y-0.07%
EPS Q2Q%3.01%
Revenue 1Y (TTM)4.55%
Revenue growth 3Y10.18%
Revenue growth 5Y5.96%
Sales Q2Q%2.62%

3.2 Future

  • WEB is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -2.53% yearly.
  • WEB is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.01% yearly.
EPS Next Y-5.1%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EPS Next 5YN/A
Revenue Next Year3.4%
Revenue Next 2Y2.47%
Revenue Next 3Y2.15%
Revenue Next 5Y1.01%

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
WEB.BR Yearly Revenue VS EstimatesWEB.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5M 10M 15M 20M 25M
WEB.BR Yearly EPS VS EstimatesWEB.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

  • WEB is valuated correctly with a Price/Earnings ratio of 13.04.
  • WEB's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.16, WEB is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 11.57, the valuation of WEB can be described as reasonable.
  • WEB's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 28.10. WEB is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 13.04
Fwd PE 11.57
WEB.BR Price Earnings VS Forward Price EarningsWEB.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of WEB indicates a somewhat cheap valuation: WEB is cheaper than 68.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 10.49
EV/EBITDA N/A
WEB.BR Per share dataWEB.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • The decent profitability rating of WEB may justify a higher PE ratio.
  • A cheap valuation may be justified as WEB's earnings are expected to decrease with -2.53% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.92%, WEB is a good candidate for dividend investing.
  • WEB's Dividend Yield is a higher than the industry average which is at 5.33.
  • Compared to an average S&P500 Dividend Yield of 1.82, WEB pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.92%

5.2 History

  • The dividend of WEB has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years2
Div Non Decr Years3
WEB.BR Yearly Dividends per shareWEB.BR Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 105.09% of the earnings are spent on dividend by WEB. This is not a sustainable payout ratio.
  • The Dividend Rate of WEB has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP105.09%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
WEB.BR Yearly Income VS Free CF VS DividendWEB.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
WEB.BR Dividend Payout.WEB.BR Dividend Payout, showing the Payout Ratio.WEB.BR Dividend Payout.PayoutRetained Earnings

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WAREHOUSES ESTATES BELGIUM

EBR:WEB (2/17/2026, 7:00:00 PM)

41.6

+0.2 (+0.48%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)09-26
Earnings (Next)N/A
Inst Owners2.94%
Inst Owner ChangeN/A
Ins Owners2.32%
Ins Owner ChangeN/A
Market Cap145.60M
Revenue(TTM)25.24M
Net Income(TTM)11.17M
Analysts47.5
Price Target40.8 (-1.92%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.92%
Yearly Dividend3.18
Dividend Growth(5Y)1.51%
DP105.09%
Div Incr Years2
Div Non Decr Years3
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 13.04
Fwd PE 11.57
P/S 5.77
P/FCF 10.49
P/OCF 8.05
P/B 0.83
P/tB 0.83
EV/EBITDA N/A
EPS(TTM)3.19
EY7.67%
EPS(NY)3.6
Fwd EY8.64%
FCF(TTM)3.96
FCFY9.53%
OCF(TTM)5.17
OCFY12.42%
SpS7.21
BVpS50.17
TBVpS50.17
PEG (NY)N/A
PEG (5Y)N/A
Graham Number60.01
Profitability
Industry RankSector Rank
ROA 3.22%
ROE 6.36%
ROCE 6.27%
ROIC 4.7%
ROICexc 4.71%
ROICexgc 4.71%
OM 79.69%
PM (TTM) 44.23%
GM 97.6%
FCFM 54.96%
ROA(3y)3.25%
ROA(5y)3.53%
ROE(3y)6.07%
ROE(5y)6.63%
ROIC(3y)4.53%
ROIC(5y)4.35%
ROICexc(3y)4.54%
ROICexc(5y)4.36%
ROICexgc(3y)4.54%
ROICexgc(5y)4.36%
ROCE(3y)6.04%
ROCE(5y)5.8%
ROICexgc growth 3Y1.91%
ROICexgc growth 5Y0.31%
ROICexc growth 3Y1.91%
ROICexc growth 5Y0.31%
OM growth 3Y-2.45%
OM growth 5Y-0.08%
PM growth 3Y-17.16%
PM growth 5Y-4.35%
GM growth 3Y0.85%
GM growth 5Y0.33%
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 11.77
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 16.68%
Interest Coverage 4.17
Cash Conversion N/A
Profit Quality 124.25%
Current Ratio 0.33
Quick Ratio 0.33
Altman-Z 0.85
F-Score5
WACC5.28%
ROIC/WACC0.89
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)18.54%
Cap/Sales(5y)19.6%
Profit Quality(3y)119.43%
Profit Quality(5y)100.63%
High Growth Momentum
Growth
EPS 1Y (TTM)57.18%
EPS 3Y-10.85%
EPS 5Y-0.07%
EPS Q2Q%3.01%
EPS Next Y-5.1%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EPS Next 5YN/A
Revenue 1Y (TTM)4.55%
Revenue growth 3Y10.18%
Revenue growth 5Y5.96%
Sales Q2Q%2.62%
Revenue Next Year3.4%
Revenue Next 2Y2.47%
Revenue Next 3Y2.15%
Revenue Next 5Y1.01%
EBIT growth 1Y3.29%
EBIT growth 3Y7.48%
EBIT growth 5Y5.88%
EBIT Next Year12.43%
EBIT Next 3Y3.98%
EBIT Next 5YN/A
FCF growth 1Y19.35%
FCF growth 3Y7.44%
FCF growth 5Y103.09%
OCF growth 1Y13.02%
OCF growth 3Y7.75%
OCF growth 5Y13.41%

WAREHOUSES ESTATES BELGIUM / WEB.BR FAQ

What is the ChartMill fundamental rating of WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?

ChartMill assigns a fundamental rating of 4 / 10 to WEB.BR.


What is the valuation status of WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?

ChartMill assigns a valuation rating of 5 / 10 to WAREHOUSES ESTATES BELGIUM (WEB.BR). This can be considered as Fairly Valued.


What is the profitability of WEB stock?

WAREHOUSES ESTATES BELGIUM (WEB.BR) has a profitability rating of 7 / 10.


How financially healthy is WAREHOUSES ESTATES BELGIUM?

The financial health rating of WAREHOUSES ESTATES BELGIUM (WEB.BR) is 2 / 10.


What is the expected EPS growth for WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?

The Earnings per Share (EPS) of WAREHOUSES ESTATES BELGIUM (WEB.BR) is expected to decline by -5.1% in the next year.