WEHB Fundamental Analysis - WERELDHAVE BELGIUM NV

Fundamental Rating

WEHB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 40 industry peers in the Diversified REITs industry. While WEHB is still in line with the averages on profitability rating, there are concerns on its financial health. WEHB is not valued too expensively and it also shows a decent growth rate. Finally WEHB also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

WEHB had positive earnings in the past year.

WEHB had a positive operating cash flow in the past year.

Of the past 5 years WEHB 4 years were profitable.

WEHB had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

WEHB has a Return On Assets of 3.00%. This is in the better half of the industry: WEHB outperforms 64.29% of its industry peers.

WEHB has a Return On Equity (4.72%) which is in line with its industry peers.

WEHB's Return On Invested Capital of 4.16% is fine compared to the rest of the industry. WEHB outperforms 73.81% of its industry peers.

WEHB had an Average Return On Invested Capital over the past 3 years of 3.99%. This is in line with the industry average of 3.43%.

The 3 year average ROIC (3.99%) for WEHB is below the current ROIC(4.16%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	3%
ROE	4.72%
ROIC	4.16%

ROA(3y)5.1%

ROA(5y)3.4%

ROE(3y)7.31%

ROE(5y)4.85%

ROIC(3y)3.99%

ROIC(5y)3.87%

1.3 Margins

WEHB has a Profit Margin (41.95%) which is comparable to the rest of the industry.

In the last couple of years the Profit Margin of WEHB has grown nicely.

WEHB's Operating Margin of 68.91% is in line compared to the rest of the industry. WEHB outperforms 50.00% of its industry peers.

WEHB's Operating Margin has been stable in the last couple of years.

WEHB's Gross Margin of 78.63% is fine compared to the rest of the industry. WEHB outperforms 64.29% of its industry peers.

In the last couple of years the Gross Margin of WEHB has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	68.91%
PM (TTM)	41.95%
GM	78.63%

OM growth 3Y-0.46%

OM growth 5Y-0.55%

PM growth 3Y15.43%

PM growth 5Y17.46%

GM growth 3Y-0.38%

GM growth 5Y-0.35%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), WEHB is destroying value.

WEHB has about the same amout of shares outstanding than it did 1 year ago.

WEHB has more shares outstanding than it did 5 years ago.

WEHB has a better debt/assets ratio than last year.

2.2 Solvency

WEHB has an Altman-Z score of 1.17. This is a bad value and indicates that WEHB is not financially healthy and even has some risk of bankruptcy.

Looking at the Altman-Z score, with a value of 1.17, WEHB is in the better half of the industry, outperforming 73.81% of the companies in the same industry.

A Debt/Equity ratio of 0.38 indicates that WEHB is not too dependend on debt financing.

WEHB's Debt to Equity ratio of 0.38 is amongst the best of the industry. WEHB outperforms 95.24% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.38
Debt/FCF	N/A
Altman-Z	1.17

ROIC/WACC0.68

WACC6.15%

2.3 Liquidity

A Current Ratio of 0.33 indicates that WEHB may have some problems paying its short term obligations.

WEHB has a Current ratio of 0.33. This is in the lower half of the industry: WEHB underperforms 64.29% of its industry peers.

A Quick Ratio of 0.33 indicates that WEHB may have some problems paying its short term obligations.

Looking at the Quick ratio, with a value of 0.33, WEHB is doing worse than 61.90% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	0.33
Quick Ratio	0.33

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The earnings per share for WEHB have decreased strongly by -54.49% in the last year.

WEHB shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.58% yearly.

The Revenue has grown by 13.17% in the past year. This is quite good.

WEHB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.12% yearly.

EPS 1Y (TTM)-54.49%

EPS 3Y21.91%

EPS 5Y16.58%

EPS Q2Q%-60.03%

Revenue 1Y (TTM)13.17%

Revenue growth 3Y6.97%

Revenue growth 5Y2.12%

Sales Q2Q%20.29%

3.2 Future

The Earnings Per Share is expected to grow by 16.08% on average over the next years. This is quite good.

Based on estimates for the next years, WEHB will show a small growth in Revenue. The Revenue will grow by 2.46% on average per year.

EPS Next Y17.26%

EPS Next 2Y16.08%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year2.49%

Revenue Next 2Y2.46%

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 13.95 indicates a correct valuation of WEHB.

WEHB's Price/Earnings ratio is in line with the industry average.

WEHB's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.30.

Based on the Price/Forward Earnings ratio of 8.27, the valuation of WEHB can be described as reasonable.

Based on the Price/Forward Earnings ratio, WEHB is valued cheaply inside the industry as 90.48% of the companies are valued more expensively.

The average S&P500 Price/Forward Earnings ratio is at 22.73. WEHB is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	13.95
Fwd PE	8.27

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, WEHB is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	15.12

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.

The decent profitability rating of WEHB may justify a higher PE ratio.

WEHB's earnings are expected to grow with 16.08% in the coming years. This may justify a more expensive valuation.

PEG (NY)0.81

PEG (5Y)0.84

EPS Next 2Y16.08%

EPS Next 3YN/A

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.57%, WEHB is a good candidate for dividend investing.

WEHB's Dividend Yield is a higher than the industry average which is at 5.57.

WEHB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.

		Industry Rank	Sector Rank
Dividend Yield	5.57%

5.2 History

On average, the dividend of WEHB grows each year by 12.11%, which is quite nice.

Dividend Growth(5Y)12.11%

Div Incr Years1

Div Non Decr Years1

5.3 Sustainability

WEHB pays out 48.97% of its income as dividend. This is a bit on the high side, but may be sustainable.

WEHB's earnings are growing more than its dividend. This makes the dividend growth sustainable.

DP48.97%

EPS Next 2Y16.08%

EPS Next 3YN/A

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WERELDHAVE BELGIUM NV

EBR:WEHB (9/12/2025, 7:00:00 PM)

0 (0%)

Chartmill FA Rating

GICS SectorReal Estate

GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)

GICS IndustryDiversified REITs

Earnings (Last)07-18 2025-07-18

Earnings (Next)10-31 2025-10-31

Inst Owners0.76%

Inst Owner ChangeN/A

Ins OwnersN/A

Ins Owner ChangeN/A

Market Cap505.44M

Analysts82.86

Price Target56.1 (3.89%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	5.57%

Yearly Dividend4.1

Dividend Growth(5Y)12.11%

DP48.97%

Div Incr Years1

Div Non Decr Years1

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 Rank	Sector Rank
PE	13.95
Fwd PE	8.27
P/S	6.1
P/FCF	N/A
P/OCF	8.55
P/B	0.69
P/tB	0.69
EV/EBITDA	15.12

EPS(TTM)3.87

EY7.17%

EPS(NY)6.53

Fwd EY12.09%

FCF(TTM)-4.74

FCFYN/A

OCF(TTM)6.32

OCFY11.7%

SpS8.85

BVpS78.75

TBVpS78.75

PEG (NY)0.81

PEG (5Y)0.84

Profitability

		Industry Rank	Sector Rank
ROA	3%
ROE	4.72%
ROCE	5.55%
ROIC	4.16%
ROICexc	4.22%
ROICexgc	4.22%
OM	68.91%
PM (TTM)	41.95%
GM	78.63%
FCFM	N/A

ROA(3y)5.1%

ROA(5y)3.4%

ROE(3y)7.31%

ROE(5y)4.85%

ROIC(3y)3.99%

ROIC(5y)3.87%

ROICexc(3y)4.05%

ROICexc(5y)3.93%

ROICexgc(3y)4.05%

ROICexgc(5y)3.93%

ROCE(3y)5.32%

ROCE(5y)5.17%

ROICexcg growth 3Y2.69%

ROICexcg growth 5Y-0.19%

ROICexc growth 3Y2.69%

ROICexc growth 5Y-0.19%

OM growth 3Y-0.46%

OM growth 5Y-0.55%

PM growth 3Y15.43%

PM growth 5Y17.46%

GM growth 3Y-0.38%

GM growth 5Y-0.35%

F-Score5

Asset Turnover0.07

Health

		Industry Rank	Sector Rank
Debt/Equity	0.38
Debt/FCF	N/A
Debt/EBITDA	4.87
Cap/Depr	25939.6%
Cap/Sales	124.91%
Interest Coverage	5.83
Cash Conversion	102.84%
Profit Quality	N/A
Current Ratio	0.33
Quick Ratio	0.33
Altman-Z	1.17

F-Score5

WACC6.15%

ROIC/WACC0.68

Cap/Depr(3y)111.82%

Cap/Depr(5y)77.9%

Cap/Sales(3y)0.54%

Cap/Sales(5y)0.34%

Profit Quality(3y)128.19%

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-54.49%

EPS 3Y21.91%

EPS 5Y16.58%

EPS Q2Q%-60.03%

EPS Next Y17.26%

EPS Next 2Y16.08%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)13.17%

Revenue growth 3Y6.97%

Revenue growth 5Y2.12%

Sales Q2Q%20.29%

Revenue Next Year2.49%

Revenue Next 2Y2.46%

Revenue Next 3YN/A

Revenue Next 5YN/A

EBIT growth 1Y14.32%

EBIT growth 3Y6.48%

EBIT growth 5Y1.55%

EBIT Next Year0.82%

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-191.35%

FCF growth 3Y5.95%

FCF growth 5Y10.77%

OCF growth 1Y21.74%

OCF growth 3Y6.22%

OCF growth 5Y3.28%

WERELDHAVE BELGIUM NV (WEHB.BR) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens