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

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

36.89  -0.43 (-1.15%)

Fundamental Rating

4

Overall AD gets a fundamental rating of 4 out of 10. We evaluated AD against 26 industry peers in the Consumer Staples Distribution & Retail industry. While AD is still in line with the averages on profitability rating, there are concerns on its financial health. AD has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

AD had positive earnings in the past year.
AD had a positive operating cash flow in the past year.
AD had positive earnings in each of the past 5 years.
Each year in the past 5 years AD had a positive operating cash flow.
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

AD's Return On Assets of 3.40% is in line compared to the rest of the industry. AD outperforms 50.00% of its industry peers.
AD's Return On Equity of 11.42% is in line compared to the rest of the industry. AD outperforms 57.69% of its industry peers.
The Return On Invested Capital of AD (6.01%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for AD is below the industry average of 9.64%.
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

With a Profit Margin value of 1.98%, AD perfoms like the industry average, outperforming 53.85% of the companies in the same industry.
In the last couple of years the Profit Margin of AD has declined.
The Operating Margin of AD (3.12%) is comparable to the rest of the industry.
AD's Operating Margin has declined in the last couple of years.
The Gross Margin of AD (26.64%) is better than 65.38% 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

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so AD is still creating some value.
AD has less shares outstanding than it did 1 year ago.
The number of shares outstanding for AD has been reduced compared to 5 years ago.
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 2.59 indicates that AD is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.59, AD is not doing good in the industry: 73.08% of the companies in the same industry are doing better.
AD has a debt to FCF ratio of 5.18. This is a neutral value as AD would need 5.18 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.18, AD is in the better half of the industry, outperforming 65.38% of the companies in the same industry.
A Debt/Equity ratio of 1.18 is on the high side and indicates that AD has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.18, AD is doing worse than 69.23% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 5.18
Altman-Z 2.59
ROIC/WACC1.16
WACC5.19%
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 worse Current ratio (0.84) than 65.38% of its industry peers.
A Quick Ratio of 0.56 indicates that AD may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.56, AD is in line with its industry, outperforming 57.69% of the companies in the same industry.
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

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3

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 2.38% over the past year.
AD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.32% yearly.
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 4.75% on average over the next years.
Based on estimates for the next years, AD will show a small growth in Revenue. The Revenue will grow by 1.58% on average per year.
EPS Next Y9.73%
EPS Next 2Y9.14%
EPS Next 3Y8.88%
EPS Next 5Y4.75%
Revenue Next Year4.74%
Revenue Next 2Y3.66%
Revenue Next 3Y3.44%
Revenue Next 5Y1.58%

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.
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

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 14.30 indicates a correct valuation of AD.
AD's Price/Earnings ratio is a bit cheaper when compared to the industry. AD is cheaper than 61.54% of the companies in the same industry.
AD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.20.
A Price/Forward Earnings ratio of 12.14 indicates a correct valuation of AD.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AD is on the same level as its industry peers.
AD's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.13.
Industry RankSector Rank
PE 14.3
Fwd PE 12.14
AD.AS Price Earnings VS Forward Price EarningsAD.AS 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 AD.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AD indicates a rather cheap valuation: AD is cheaper than 84.62% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 8.58
EV/EBITDA 6.98
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

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.47
PEG (5Y)1.72
EPS Next 2Y9.14%
EPS Next 3Y8.88%

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4

5. Dividend

5.1 Amount

AD has a Yearly Dividend Yield of 3.09%.
AD's Dividend Yield is comparable with the industry average which is at 3.74.
Compared to an average S&P500 Dividend Yield of 2.40, AD pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.09%

5.2 History

On average, the dividend of AD grows each year by 21.56%, which is quite nice.
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

AD pays out 58.75% of its income as dividend. 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

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KONINKLIJKE AHOLD DELHAIZE N

AMS:AD (5/29/2025, 7:00:00 PM)

36.89

-0.43 (-1.15%)

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 Owners54.89%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap33.68B
Analysts75.56
Price Target36.69 (-0.54%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.09%
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)-0.99%
PT rev (3m)-0.83%
EPS NQ rev (1m)-0.54%
EPS NQ rev (3m)-0.54%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.92%
Revenue NQ rev (1m)-0.11%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.96%
Revenue NY rev (3m)-1.86%
Valuation
Industry RankSector Rank
PE 14.3
Fwd PE 12.14
P/S 0.38
P/FCF 8.58
P/OCF 5.41
P/B 2.18
P/tB 16.56
EV/EBITDA 6.98
EPS(TTM)2.58
EY6.99%
EPS(NY)3.04
Fwd EY8.23%
FCF(TTM)4.3
FCFY11.65%
OCF(TTM)6.82
OCFY18.48%
SpS97.88
BVpS16.93
TBVpS2.23
PEG (NY)1.47
PEG (5Y)1.72
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 2.59
F-Score5
WACC5.19%
ROIC/WACC1.16
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 5Y4.75%
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 5Y1.58%
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%