WAREHOUSES ESTATES BELGIUM (WEB.BR) Stock Fundamental Analysis
Europe - Euronext Brussels - EBR:WEB - BE0003734481 - REIT
37 EUR
-0.4 (-1.07%)
WEB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 40 industry peers in the Diversified REITs industry. WEB scores excellent on profitability, but there are concerns on its financial health. WEB is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year WEB was profitable.
In the past year WEB had a positive cash flow from operations.
Each year in the past 5 years WEB has been profitable.
WEB had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 3.22%, WEB is doing good in the industry, outperforming 67.50% of the companies in the same industry.
The Return On Equity of WEB (6.36%) is better than 70.00% of its industry peers.
WEB has a Return On Invested Capital of 4.70%. This is amongst the best in the industry. WEB outperforms 85.00% 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 3.46%.
The 3 year average ROIC (4.53%) for WEB is below the current ROIC(4.70%), indicating increased profibility in the last year.
| Industry Rank | Sector 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%
1.3 Margins
WEB has a Profit Margin (44.23%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of WEB has declined.
With a decent Operating Margin value of 79.69%, WEB is doing good in the industry, outperforming 77.50% of the companies in the same industry.
WEB's Operating Margin has been stable in the last couple of years.
WEB has a Gross Margin of 97.60%. This is amongst the best in the industry. WEB outperforms 95.00% of its industry peers.
WEB's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so WEB is destroying value.
Compared to 1 year ago, WEB has more shares outstanding
The number of shares outstanding for WEB has been increased compared to 5 years ago.
Compared to 1 year ago, WEB has an improved debt to assets ratio.
2.2 Solvency
WEB has an Altman-Z score of 0.80. 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 0.80, WEB is doing worse than 60.00% of the companies in the same industry.
The Debt to FCF ratio of WEB is 11.77, which is on the high side as it means it would take WEB, 11.77 years of fcf income to pay off all of its debts.
WEB has a Debt to FCF ratio of 11.77. This is comparable to the rest of the industry: WEB outperforms 57.50% of its industry peers.
A Debt/Equity ratio of 0.82 indicates that WEB is somewhat dependend on debt financing.
WEB's Debt to Equity ratio of 0.82 is on the low side compared to the rest of the industry. WEB is outperformed by 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 11.77 | ||
| Altman-Z | 0.8 |
ROIC/WACC0.93
WACC5.06%
2.3 Liquidity
WEB has a Current Ratio of 0.33. This is a bad value and indicates that WEB is not financially healthy enough and could expect problems in meeting its short term obligations.
WEB has a worse Current ratio (0.33) than 62.50% of its industry peers.
WEB has a Quick Ratio of 0.33. This is a bad value and indicates that WEB is not financially healthy enough and could expect problems in meeting its short term obligations.
WEB's Quick ratio of 0.33 is in line compared to the rest of the industry. WEB outperforms 42.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.33 | ||
| Quick Ratio | 0.33 |
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.
Looking at the last year, WEB shows a small growth in Revenue. The Revenue has grown by 4.55% in the last year.
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
The Earnings Per Share is expected to decrease by -2.53% on average over the next years.
Based on estimates for the next years, WEB will show a small growth in Revenue. The Revenue will grow by 1.01% on average per year.
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.
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
Based on the Price/Earnings ratio of 11.60, the valuation of WEB can be described as reasonable.
Based on the Price/Earnings ratio, WEB is valued a bit cheaper than the industry average as 72.50% of the companies are valued more expensively.
WEB's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.49.
Based on the Price/Forward Earnings ratio of 10.29, the valuation of WEB can be described as reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of WEB indicates a somewhat cheap valuation: WEB is cheaper than 70.00% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.69. WEB is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.6 | ||
| Fwd PE | 10.29 |
4.2 Price Multiples
72.50% of the companies in the same industry are more expensive than WEB, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.33 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
WEB has a very decent profitability rating, which 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%
5. Dividend
5.1 Amount
WEB has a Yearly Dividend Yield of 6.34%, which is a nice return.
WEB's Dividend Yield is a higher than the industry average which is at 5.96.
Compared to an average S&P500 Dividend Yield of 2.31, WEB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
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
5.3 Sustainability
WEB pays out 105.09% of its income as dividend. This is not a sustainable payout ratio.
WEB's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP105.09%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EBR:WEB (12/5/2025, 7:00:00 PM)
37
-0.4 (-1.07%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners2.94%
Inst Owner ChangeN/A
Ins Owners2.32%
Ins Owner ChangeN/A
Market Cap129.50M
Revenue(TTM)25.24M
Net Income(TTM)11.17M
Analysts47.5
Price Target40.8 (10.27%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
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)-1.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.58%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.6 | ||
| Fwd PE | 10.29 | ||
| P/S | 5.13 | ||
| P/FCF | 9.33 | ||
| P/OCF | 7.16 | ||
| P/B | 0.74 | ||
| P/tB | 0.74 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.19
EY8.62%
EPS(NY)3.6
Fwd EY9.72%
FCF(TTM)3.96
FCFY10.71%
OCF(TTM)5.17
OCFY13.97%
SpS7.21
BVpS50.17
TBVpS50.17
PEG (NY)N/A
PEG (5Y)N/A
Graham Number60.01
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.8 |
F-Score5
WACC5.06%
ROIC/WACC0.93
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 for WEB 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.
What are the PE and PB ratios of WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?
The Price/Earnings (PE) ratio for WAREHOUSES ESTATES BELGIUM (WEB.BR) is 11.6 and the Price/Book (PB) ratio is 0.74.
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.