WERELDHAVE BELGIUM NV (WEHB.BR) Stock Fundamental Analysis

Europe • Euronext Brussels • EBR:WEHB • BE0003724383

54.2 EUR
-0.2 (-0.37%)
Last: Feb 3, 2026, 07:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to WEHB. WEHB was compared to 42 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 has a correct valuation and a medium growth rate. Finally WEHB also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year WEHB was profitable.
  • WEHB had a positive operating cash flow in the past year.
  • Of the past 5 years WEHB 4 years were profitable.
  • Each year in the past 5 years WEHB had a positive operating cash flow.
WEHB.BR Yearly Net Income VS EBIT VS OCF VS FCFWEHB.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 0 20M -20M 40M 60M

1.2 Ratios

  • The Return On Assets of WEHB (3.00%) is better than 64.29% of its industry peers.
  • With a Return On Equity value of 4.72%, WEHB perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 4.16%, WEHB is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for WEHB is in line with the industry average of 3.37%.
  • The last Return On Invested Capital (4.16%) for WEHB is above the 3 year average (3.99%), which is a sign of increasing profitability.
Industry RankSector 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%
WEHB.BR Yearly ROA, ROE, ROICWEHB.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

  • WEHB has a Profit Margin of 41.95%. This is comparable to the rest of the industry: WEHB outperforms 54.76% of its industry peers.
  • WEHB's Profit Margin has improved in the last couple of years.
  • WEHB has a Operating Margin of 68.91%. This is comparable to the rest of the industry: WEHB outperforms 52.38% of its industry peers.
  • WEHB's Operating Margin has been stable in the last couple of years.
  • WEHB has a better Gross Margin (78.63%) than 71.43% of its industry peers.
  • WEHB's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
WEHB.BR Yearly Profit, Operating, Gross MarginsWEHB.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 100

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3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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.
  • Compared to 1 year ago, WEHB has an improved debt to assets ratio.
WEHB.BR Yearly Shares OutstandingWEHB.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
WEHB.BR Yearly Total Debt VS Total AssetsWEHB.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

  • WEHB has an Altman-Z score of 1.33. This is a bad value and indicates that WEHB is not financially healthy and even has some risk of bankruptcy.
  • WEHB's Altman-Z score of 1.33 is amongst the best of the industry. WEHB outperforms 88.10% of its industry peers.
  • WEHB has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of WEHB (0.38) is better than 92.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF N/A
Altman-Z 1.33
ROIC/WACC0.65
WACC6.45%
WEHB.BR Yearly LT Debt VS Equity VS FCFWEHB.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 0.33 indicates that WEHB may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.33, WEHB is doing worse than 61.90% of the companies in the same industry.
  • A Quick Ratio of 0.33 indicates that WEHB may have some problems paying its short term obligations.
  • The Quick ratio of WEHB (0.33) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.33
Quick Ratio 0.33
WEHB.BR Yearly Current Assets VS Current LiabilitesWEHB.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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5

3. Growth

3.1 Past

  • The earnings per share for WEHB have decreased strongly by -55.83% in the last year.
  • The Earnings Per Share has been growing by 15.62% on average over the past years. This is quite good.
  • WEHB shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.17%.
  • Measured over the past years, WEHB shows a small growth in Revenue. The Revenue has been growing by 2.12% on average per year.
EPS 1Y (TTM)-55.83%
EPS 3Y20.24%
EPS 5Y15.62%
EPS Q2Q%-61.65%
Revenue 1Y (TTM)13.17%
Revenue growth 3Y6.97%
Revenue growth 5Y2.12%
Sales Q2Q%20.29%

3.2 Future

  • Based on estimates for the next years, WEHB will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.62% on average per year.
  • The Revenue is expected to grow by 5.97% on average over the next years.
EPS Next Y21.21%
EPS Next 2Y13.97%
EPS Next 3Y12.62%
EPS Next 5YN/A
Revenue Next Year14.33%
Revenue Next 2Y8.01%
Revenue Next 3Y5.97%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
WEHB.BR Yearly Revenue VS EstimatesWEHB.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M
WEHB.BR Yearly EPS VS EstimatesWEHB.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2023 2024 2025 2026 2027 2 4 6

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5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.45, which indicates a correct valuation of WEHB.
  • Compared to the rest of the industry, the Price/Earnings ratio of WEHB is on the same level as its industry peers.
  • WEHB's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.18.
  • Based on the Price/Forward Earnings ratio of 8.61, the valuation of WEHB can be described as reasonable.
  • WEHB's Price/Forward Earnings ratio is rather cheap when compared to the industry. WEHB is cheaper than 92.86% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 25.51. WEHB is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 14.45
Fwd PE 8.61
WEHB.BR Price Earnings VS Forward Price EarningsWEHB.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as WEHB.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.11
WEHB.BR Per share dataWEHB.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

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.
  • WEHB has a very decent profitability rating, which may justify a higher PE ratio.
  • WEHB's earnings are expected to grow with 12.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.68
PEG (5Y)0.93
EPS Next 2Y13.97%
EPS Next 3Y12.62%

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7

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.55%, WEHB is a good candidate for dividend investing.
  • WEHB's Dividend Yield is comparable with the industry average which is at 5.30.
  • WEHB's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 5.55%

5.2 History

  • On average, the dividend of WEHB grows each year by 11.19%, which is quite nice.
Dividend Growth(5Y)11.19%
Div Incr Years1
Div Non Decr Years1
WEHB.BR Yearly Dividends per shareWEHB.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

5.3 Sustainability

  • 48.97% of the earnings are spent on dividend by WEHB. This is a bit on the high side, but may be sustainable.
  • WEHB's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP48.97%
EPS Next 2Y13.97%
EPS Next 3Y12.62%
WEHB.BR Yearly Income VS Free CF VS DividendWEHB.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M 60M
WEHB.BR Dividend Payout.WEHB.BR Dividend Payout, showing the Payout Ratio.WEHB.BR Dividend Payout.PayoutRetained Earnings

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WERELDHAVE BELGIUM NV

EBR:WEHB (2/3/2026, 7:00:00 PM)

54.2

-0.2 (-0.37%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)10-31
Earnings (Next)02-05
Inst Owners0.56%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap619.51M
Revenue(TTM)82.86M
Net Income(TTM)34.76M
Analysts82.86
Price Target53.83 (-0.68%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.55%
Yearly Dividend3.93
Dividend Growth(5Y)11.19%
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)-4.04%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)3.36%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)11.55%
Valuation
Industry RankSector Rank
PE 14.45
Fwd PE 8.61
P/S 7.48
P/FCF N/A
P/OCF 10.48
P/B 0.84
P/tB 0.84
EV/EBITDA 17.11
EPS(TTM)3.75
EY6.92%
EPS(NY)6.29
Fwd EY11.61%
FCF(TTM)-3.88
FCFYN/A
OCF(TTM)5.17
OCFY9.55%
SpS7.25
BVpS64.48
TBVpS64.48
PEG (NY)0.68
PEG (5Y)0.93
Graham Number73.76
Profitability
Industry RankSector 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%
ROICexgc growth 3Y2.69%
ROICexgc 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 RankSector 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 1.33
F-Score5
WACC6.45%
ROIC/WACC0.65
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)-55.83%
EPS 3Y20.24%
EPS 5Y15.62%
EPS Q2Q%-61.65%
EPS Next Y21.21%
EPS Next 2Y13.97%
EPS Next 3Y12.62%
EPS Next 5YN/A
Revenue 1Y (TTM)13.17%
Revenue growth 3Y6.97%
Revenue growth 5Y2.12%
Sales Q2Q%20.29%
Revenue Next Year14.33%
Revenue Next 2Y8.01%
Revenue Next 3Y5.97%
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 FAQ

Can you provide the ChartMill fundamental rating for WERELDHAVE BELGIUM NV?

ChartMill assigns a fundamental rating of 5 / 10 to WEHB.BR.


Can you provide the valuation status for WERELDHAVE BELGIUM NV?

ChartMill assigns a valuation rating of 5 / 10 to WERELDHAVE BELGIUM NV (WEHB.BR). This can be considered as Fairly Valued.


What is the profitability of WEHB stock?

WERELDHAVE BELGIUM NV (WEHB.BR) has a profitability rating of 6 / 10.


Can you provide the financial health for WEHB stock?

The financial health rating of WERELDHAVE BELGIUM NV (WEHB.BR) is 3 / 10.


What is the expected EPS growth for WERELDHAVE BELGIUM NV (WEHB.BR) stock?

The Earnings per Share (EPS) of WERELDHAVE BELGIUM NV (WEHB.BR) is expected to grow by 21.21% in the next year.