WAREHOUSES ESTATES BELGIUM (WEB.BR) Stock Fundamental Analysis
Europe - Euronext Brussels - EBR:WEB - BE0003734481 - REIT
40 EUR
0 (0%)
We assign a fundamental rating of 4 out of 10 to WEB. WEB was compared to 42 industry peers in the Diversified REITs industry. WEB has an excellent profitability rating, but there are concerns on its financial health. WEB has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
- WEB had positive earnings in the past year.
- WEB had a positive operating cash flow in the past year.
- In the past 5 years WEB has always been profitable.
- Each year in the past 5 years WEB had a positive operating cash flow.
1.2 Ratios
- WEB has a better Return On Assets (3.22%) than 66.67% of its industry peers.
- WEB has a better Return On Equity (6.36%) than 66.67% of its industry peers.
- WEB's Return On Invested Capital of 4.70% is amongst the best of the industry. WEB outperforms 85.71% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for WEB 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 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.
- WEB has a better Operating Margin (79.69%) than 76.19% of its industry peers.
- In the last couple of years the Operating Margin of WEB has remained more or less at the same level.
- The Gross Margin of WEB (97.60%) is better than 95.24% 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
- WEB has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- WEB has more shares outstanding than it did 1 year ago.
- 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
- Based on the Altman-Z score of 0.84, we must say that WEB is in the distress zone and has some risk of bankruptcy.
- WEB has a Altman-Z score (0.84) which is comparable to the rest of the 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's Debt to FCF ratio of 11.77 is in line compared to the rest of the industry. WEB outperforms 57.14% 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 worse Debt to Equity ratio (0.82) than 64.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 11.77 | ||
| Altman-Z | 0.84 |
ROIC/WACC0.91
WACC5.17%
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.
- The Current ratio of WEB (0.33) is comparable to the rest of the industry.
- A Quick Ratio of 0.33 indicates that WEB may have some problems paying its short term obligations.
- WEB has a Quick ratio (0.33) which is comparable to the rest of the industry.
| 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.
- The Earnings Per Share has been decreasing by -0.07% on average over the past years.
- WEB shows a small growth in Revenue. In the last year, the Revenue has grown by 4.55%.
- The Revenue has been growing slightly by 5.96% on average over the past years.
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.
- The Revenue is expected to grow by 1.01% on average over the next years.
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.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 12.54, which indicates a correct valuation of WEB.
- WEB's Price/Earnings is on the same level as the industry average.
- When comparing the Price/Earnings ratio of WEB to the average of the S&P500 Index (27.47), we can say WEB is valued rather cheaply.
- A Price/Forward Earnings ratio of 11.12 indicates a reasonable valuation of WEB.
- Based on the Price/Forward Earnings ratio, WEB is valued a bit cheaper than 64.29% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 24.26. WEB is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 11.12 |
4.2 Price Multiples
- WEB's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. WEB is cheaper than 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.09 | ||
| EV/EBITDA | N/A |
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%
5. Dividend
5.1 Amount
- WEB has a Yearly Dividend Yield of 5.86%, which is a nice return.
- WEB's Dividend Yield is a higher than the industry average which is at 5.44.
- WEB's Dividend Yield is rather good when compared to the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.86% |
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.
- 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%
EBR:WEB (1/16/2026, 7:00:00 PM)
40
0 (0%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)09-26 2025-09-26
Earnings (Next)N/A N/A
Inst Owners2.94%
Inst Owner ChangeN/A
Ins Owners2.32%
Ins Owner ChangeN/A
Market Cap140.00M
Revenue(TTM)25.24M
Net Income(TTM)11.17M
Analysts47.5
Price Target40.8 (2%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.86% |
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%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 11.12 | ||
| P/S | 5.55 | ||
| P/FCF | 10.09 | ||
| P/OCF | 7.74 | ||
| P/B | 0.8 | ||
| P/tB | 0.8 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.19
EY7.98%
EPS(NY)3.6
Fwd EY8.99%
FCF(TTM)3.96
FCFY9.91%
OCF(TTM)5.17
OCFY12.92%
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 | 0.84 |
F-Score5
WACC5.17%
ROIC/WACC0.91
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.