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KONINKLIJKE AHOLD DELHAIZE N (AD.AS) Stock Fundamental Analysis

AMS:AD - Euronext Amsterdam - NL0011794037 - Common Stock - Currency: EUR

34.74  +0.08 (+0.23%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to AD. AD was compared to 23 industry peers in the Consumer Staples Distribution & Retail industry. AD has a medium profitability rating, but doesn't score so well on its financial health evaluation. AD is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

In the past year AD was profitable.
In the past year AD had a positive cash flow from operations.
AD had positive earnings in each of the past 5 years.
AD had a positive operating cash flow in each of the past 5 years.
AD.AS Yearly Net Income VS EBIT VS OCF VS FCFAD.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

1.2 Ratios

The Return On Assets of AD (3.40%) is comparable to the rest of the industry.
AD's Return On Equity of 11.42% is fine compared to the rest of the industry. AD outperforms 60.87% of its industry peers.
The Return On Invested Capital of AD (6.01%) is comparable to the rest of the industry.
AD had an Average Return On Invested Capital over the past 3 years of 7.16%. This is below the industry average of 9.38%.
Industry RankSector Rank
ROA 3.4%
ROE 11.42%
ROIC 6.01%
ROA(3y)4.19%
ROA(5y)4.18%
ROE(3y)13.55%
ROE(5y)13.65%
ROIC(3y)7.16%
ROIC(5y)7.13%
AD.AS Yearly ROA, ROE, ROICAD.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of AD (1.98%) is better than 65.22% of its industry peers.
AD's Profit Margin has declined in the last couple of years.
AD has a Operating Margin (3.12%) which is comparable to the rest of the industry.
AD's Operating Margin has declined in the last couple of years.
AD has a Gross Margin of 26.64%. This is in the better half of the industry: AD outperforms 69.57% of its industry peers.
In the last couple of years the Gross Margin of AD has remained more or less at the same level.
Industry RankSector Rank
OM 3.12%
PM (TTM) 1.98%
GM 26.64%
OM growth 3Y-10.81%
OM growth 5Y-4.96%
PM growth 3Y-12.74%
PM growth 5Y-5.83%
GM growth 3Y-0.89%
GM growth 5Y-0.46%
AD.AS Yearly Profit, Operating, Gross MarginsAD.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

3

2. Health

2.1 Basic Checks

AD has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
AD has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, AD has less shares outstanding
Compared to 1 year ago, AD has a worse debt to assets ratio.
AD.AS Yearly Shares OutstandingAD.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
AD.AS Yearly Total Debt VS Total AssetsAD.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

An Altman-Z score of 2.54 indicates that AD is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.54, AD is doing worse than 69.57% of the companies in the same industry.
The Debt to FCF ratio of AD is 5.18, which is a neutral value as it means it would take AD, 5.18 years of fcf income to pay off all of its debts.
AD has a better Debt to FCF ratio (5.18) than 73.91% of its industry peers.
A Debt/Equity ratio of 1.18 is on the high side and indicates that AD has dependencies on debt financing.
The Debt to Equity ratio of AD (1.18) is worse than 65.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 5.18
Altman-Z 2.54
ROIC/WACC1.21
WACC4.97%
AD.AS Yearly LT Debt VS Equity VS FCFAD.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

AD has a Current Ratio of 0.84. This is a bad value and indicates that AD is not financially healthy enough and could expect problems in meeting its short term obligations.
AD has a Current ratio of 0.84. This is in the lower half of the industry: AD underperforms 60.87% of its industry peers.
AD has a Quick Ratio of 0.84. This is a bad value and indicates that AD is not financially healthy enough and could expect problems in meeting its short term obligations.
AD has a Quick ratio of 0.56. This is comparable to the rest of the industry: AD outperforms 52.17% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.56
AD.AS Yearly Current Assets VS Current LiabilitesAD.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

3

3. Growth

3.1 Past

AD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.38%.
The Earnings Per Share has been growing by 8.32% on average over the past years. This is quite good.
The Revenue has been growing slightly by 2.42% in the past year.
Measured over the past years, AD shows a small growth in Revenue. The Revenue has been growing by 6.16% on average per year.
EPS 1Y (TTM)2.38%
EPS 3Y5.2%
EPS 5Y8.32%
EPS Q2Q%5.08%
Revenue 1Y (TTM)2.42%
Revenue growth 3Y5.73%
Revenue growth 5Y6.16%
Sales Q2Q%7.12%

3.2 Future

The Earnings Per Share is expected to grow by 4.15% on average over the next years.
AD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.55% yearly.
EPS Next Y9.73%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
EPS Next 5Y4.15%
Revenue Next Year4.74%
Revenue Next 2Y3.66%
Revenue Next 3Y3.44%
Revenue Next 5Y1.55%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less 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 decreasing.
AD.AS Yearly Revenue VS EstimatesAD.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B 80B 100B
AD.AS Yearly EPS VS EstimatesAD.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1 2 3

6

4. Valuation

4.1 Price/Earnings Ratio

AD is valuated correctly with a Price/Earnings ratio of 13.47.
AD's Price/Earnings ratio is a bit cheaper when compared to the industry. AD is cheaper than 65.22% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.69. AD is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 11.44, which indicates a very decent valuation of AD.
AD's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. AD is cheaper than 60.87% of the companies in the same industry.
AD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 37.36.
Industry RankSector Rank
PE 13.47
Fwd PE 11.44
AD.AS Price Earnings VS Forward Price EarningsAD.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

AD's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. AD is cheaper than 69.57% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AD indicates a somewhat cheap valuation: AD is cheaper than 78.26% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 8.04
EV/EBITDA 6.58
AD.AS Per share dataAD.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

AD's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.38
PEG (5Y)1.62
EPS Next 2Y9.14%
EPS Next 3Y8.88%

4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.32%, AD has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.10, AD has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, AD pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.32%

5.2 History

The dividend of AD is nicely growing with an annual growth rate of 21.56%!
Dividend Growth(5Y)21.56%
Div Incr Years3
Div Non Decr Years3
AD.AS Yearly Dividends per shareAD.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

58.75% of the earnings are spent on dividend by AD. This is a bit on the high side, but may be sustainable.
AD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP58.75%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
AD.AS Yearly Income VS Free CF VS DividendAD.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
AD.AS Dividend Payout.AD.AS Dividend Payout, showing the Payout Ratio.AD.AS Dividend Payout.PayoutRetained Earnings

KONINKLIJKE AHOLD DELHAIZE N

AMS:AD (7/24/2025, 5:36:15 PM)

34.74

+0.08 (+0.23%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-06 2025-08-06
Inst Owners46.66%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap31.54B
Analysts73.85
Price Target37.96 (9.27%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.32%
Yearly Dividend1.12
Dividend Growth(5Y)21.56%
DP58.75%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.24%
Min EPS beat(2)-2.49%
Max EPS beat(2)2%
EPS beat(4)2
Avg EPS beat(4)0.52%
Min EPS beat(4)-2.49%
Max EPS beat(4)2.98%
EPS beat(8)5
Avg EPS beat(8)1.28%
EPS beat(12)9
Avg EPS beat(12)4.21%
EPS beat(16)12
Avg EPS beat(16)4.9%
Revenue beat(2)1
Avg Revenue beat(2)-0.14%
Min Revenue beat(2)-2.66%
Max Revenue beat(2)2.39%
Revenue beat(4)2
Avg Revenue beat(4)-0.09%
Min Revenue beat(4)-2.66%
Max Revenue beat(4)2.39%
Revenue beat(8)2
Avg Revenue beat(8)-1.45%
Revenue beat(12)2
Avg Revenue beat(12)-1.38%
Revenue beat(16)5
Avg Revenue beat(16)-0.86%
PT rev (1m)-0.42%
PT rev (3m)2.45%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.54%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.11%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.12%
Valuation
Industry RankSector Rank
PE 13.47
Fwd PE 11.44
P/S 0.35
P/FCF 8.04
P/OCF 5.07
P/B 2.04
P/tB 15.51
EV/EBITDA 6.58
EPS(TTM)2.58
EY7.43%
EPS(NY)3.04
Fwd EY8.74%
FCF(TTM)4.32
FCFY12.45%
OCF(TTM)6.86
OCFY19.73%
SpS98.43
BVpS17.02
TBVpS2.24
PEG (NY)1.38
PEG (5Y)1.62
Profitability
Industry RankSector Rank
ROA 3.4%
ROE 11.42%
ROCE 8.08%
ROIC 6.01%
ROICexc 7.3%
ROICexgc 13.13%
OM 3.12%
PM (TTM) 1.98%
GM 26.64%
FCFM 4.39%
ROA(3y)4.19%
ROA(5y)4.18%
ROE(3y)13.55%
ROE(5y)13.65%
ROIC(3y)7.16%
ROIC(5y)7.13%
ROICexc(3y)8.2%
ROICexc(5y)8.1%
ROICexgc(3y)14.53%
ROICexgc(5y)14.46%
ROCE(3y)9.39%
ROCE(5y)9.31%
ROICexcg growth 3Y-6.55%
ROICexcg growth 5Y-2.37%
ROICexc growth 3Y-6.86%
ROICexc growth 5Y-1.86%
OM growth 3Y-10.81%
OM growth 5Y-4.96%
PM growth 3Y-12.74%
PM growth 5Y-5.83%
GM growth 3Y-0.89%
GM growth 5Y-0.46%
F-Score5
Asset Turnover1.72
Health
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 5.18
Debt/EBITDA 2.81
Cap/Depr 62.03%
Cap/Sales 2.57%
Interest Coverage 12.1
Cash Conversion 95.9%
Profit Quality 222.38%
Current Ratio 0.84
Quick Ratio 0.56
Altman-Z 2.54
F-Score5
WACC4.97%
ROIC/WACC1.21
Cap/Depr(3y)64.41%
Cap/Depr(5y)72.49%
Cap/Sales(3y)2.73%
Cap/Sales(5y)2.97%
Profit Quality(3y)193.28%
Profit Quality(5y)196.29%
High Growth Momentum
Growth
EPS 1Y (TTM)2.38%
EPS 3Y5.2%
EPS 5Y8.32%
EPS Q2Q%5.08%
EPS Next Y9.73%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
EPS Next 5Y4.15%
Revenue 1Y (TTM)2.42%
Revenue growth 3Y5.73%
Revenue growth 5Y6.16%
Sales Q2Q%7.12%
Revenue Next Year4.74%
Revenue Next 2Y3.66%
Revenue Next 3Y3.44%
Revenue Next 5Y1.55%
EBIT growth 1Y-2.18%
EBIT growth 3Y-5.7%
EBIT growth 5Y0.9%
EBIT Next Year105.3%
EBIT Next 3Y29.65%
EBIT Next 5Y16.35%
FCF growth 1Y-2.65%
FCF growth 3Y8.22%
FCF growth 5Y3.97%
OCF growth 1Y-3.74%
OCF growth 3Y4.41%
OCF growth 5Y2.7%