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ASCENCIO (ASC.BR) Stock Fundamental Analysis

EBR:ASC - Euronext Brussels - BE0003856730 - REIT - Currency: EUR

50.9  -0.3 (-0.59%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to ASC. ASC was compared to 41 industry peers in the Diversified REITs industry. While ASC has a great profitability rating, there are quite some concerns on its financial health. ASC is valued correctly, but it does not seem to be growing. Finally ASC also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

ASC had positive earnings in the past year.
ASC had a positive operating cash flow in the past year.
Each year in the past 5 years ASC has been profitable.
Each year in the past 5 years ASC had a positive operating cash flow.
ASC.BR Yearly Net Income VS EBIT VS OCF VS FCFASC.BR 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 20M 40M 60M 80M

1.2 Ratios

ASC's Return On Assets of 16.61% is amongst the best of the industry. ASC outperforms 98.08% of its industry peers.
Looking at the Return On Equity, with a value of 29.77%, ASC belongs to the top of the industry, outperforming 98.08% of the companies in the same industry.
ASC has a Return On Invested Capital of 6.06%. This is amongst the best in the industry. ASC outperforms 100.00% of its industry peers.
ASC had an Average Return On Invested Capital over the past 3 years of 3.96%. This is in line with the industry average of 3.55%.
The last Return On Invested Capital (6.06%) for ASC is above the 3 year average (3.96%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 16.61%
ROE 29.77%
ROIC 6.06%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)3.96%
ROIC(5y)N/A
ASC.BR Yearly ROA, ROE, ROICASC.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 5 10 15 20

1.3 Margins

ASC's Profit Margin of 181.48% is fine compared to the rest of the industry. ASC outperforms 76.92% of its industry peers.
ASC's Profit Margin has improved in the last couple of years.
ASC has a Operating Margin of 83.92%. This is amongst the best in the industry. ASC outperforms 88.46% of its industry peers.
In the last couple of years the Operating Margin of ASC has remained more or less at the same level.
ASC has a better Gross Margin (91.36%) than 80.77% of its industry peers.
In the last couple of years the Gross Margin of ASC has remained more or less at the same level.
Industry RankSector Rank
OM 83.92%
PM (TTM) 181.48%
GM 91.36%
OM growth 3Y0.74%
OM growth 5Y-0.14%
PM growth 3Y54.54%
PM growth 5Y13.4%
GM growth 3Y0.39%
GM growth 5Y0%
ASC.BR Yearly Profit, Operating, Gross MarginsASC.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 50 100 150

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASC is creating some value.
ASC has about the same amout of shares outstanding than it did 1 year ago.
The debt/assets ratio for ASC has been reduced compared to a year ago.
ASC.BR Yearly Shares OutstandingASC.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2M 4M 6M
ASC.BR Yearly Total Debt VS Total AssetsASC.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 200M 400M 600M

2.2 Solvency

ASC has an Altman-Z score of 1.05. This is a bad value and indicates that ASC is not financially healthy and even has some risk of bankruptcy.
ASC has a better Altman-Z score (1.05) than 65.38% of its industry peers.
The Debt to FCF ratio of ASC is 8.41, which is on the high side as it means it would take ASC, 8.41 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 8.41, ASC belongs to the best of the industry, outperforming 94.23% of the companies in the same industry.
A Debt/Equity ratio of 0.61 indicates that ASC is somewhat dependend on debt financing.
ASC has a better Debt to Equity ratio (0.61) than 73.08% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 8.41
Altman-Z 1.05
ROIC/WACC1.22
WACC4.95%
ASC.BR Yearly LT Debt VS Equity VS FCFASC.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 100M 200M 300M 400M

2.3 Liquidity

ASC has a Current Ratio of 0.19. This is a bad value and indicates that ASC is not financially healthy enough and could expect problems in meeting its short term obligations.
ASC's Current ratio of 0.19 is on the low side compared to the rest of the industry. ASC is outperformed by 84.62% of its industry peers.
ASC has a Quick Ratio of 0.19. This is a bad value and indicates that ASC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.19, ASC is doing worse than 84.62% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.19
Quick Ratio 0.19
ASC.BR Yearly Current Assets VS Current LiabilitesASC.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M 100M

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 108.49% over the past year.
The Earnings Per Share has been growing by 16.73% on average over the past years. This is quite good.
Looking at the last year, ASC shows a small growth in Revenue. The Revenue has grown by 3.33% in the last year.
The Revenue has been growing slightly by 3.25% on average over the past years.
EPS 1Y (TTM)108.49%
EPS 3Y61.94%
EPS 5Y16.73%
EPS Q2Q%75.95%
Revenue 1Y (TTM)3.33%
Revenue growth 3Y4.79%
Revenue growth 5Y3.25%
Sales Q2Q%4.68%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
ASC.BR Yearly Revenue VS EstimatesASC.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 10M 20M 30M 40M
ASC.BR Yearly EPS VS EstimatesASC.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2018 2019 2020 2021 2022 1 2 3 4

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6

4. Valuation

4.1 Price/Earnings Ratio

ASC is valuated cheaply with a Price/Earnings ratio of 2.58.
100.00% of the companies in the same industry are more expensive than ASC, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.31, ASC is valued rather cheaply.
Industry RankSector Rank
PE 2.58
Fwd PE N/A
ASC.BR Price Earnings VS Forward Price EarningsASC.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ASC is valued cheaper than 98.08% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASC indicates a rather cheap valuation: ASC is cheaper than 86.54% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 8.64
EV/EBITDA 10.39
ASC.BR Per share dataASC.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The excellent profitability rating of ASC may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.15
EPS Next 2YN/A
EPS Next 3YN/A

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7

5. Dividend

5.1 Amount

ASC has a Yearly Dividend Yield of 5.05%, which is a nice return.
ASC's Dividend Yield is comparable with the industry average which is at 5.44.
ASC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
Industry RankSector Rank
Dividend Yield 5.05%

5.2 History

The dividend of ASC has a limited annual growth rate of 4.11%.
Dividend Growth(5Y)4.11%
Div Incr Years3
Div Non Decr Years3
ASC.BR Yearly Dividends per shareASC.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 1 2 3

5.3 Sustainability

18.76% of the earnings are spent on dividend by ASC. This is a low number and sustainable payout ratio.
ASC's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP18.76%
EPS Next 2YN/A
EPS Next 3YN/A
ASC.BR Yearly Income VS Free CF VS DividendASC.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M
ASC.BR Dividend Payout.ASC.BR Dividend Payout, showing the Payout Ratio.ASC.BR Dividend Payout.PayoutRetained Earnings

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ASCENCIO

EBR:ASC (2/10/2023, 7:00:00 PM)

50.9

-0.3 (-0.59%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap335.74M
Analysts80
Price Target57.12 (12.22%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.05%
Yearly Dividend2.77
Dividend Growth(5Y)4.11%
DP18.76%
Div Incr Years3
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)0
Avg Revenue beat(2)-72.5%
Min Revenue beat(2)-72.5%
Max Revenue beat(2)-72.5%
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)4.67%
PT rev (3m)4.67%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 2.58
Fwd PE N/A
P/S 4.68
P/FCF 8.64
P/OCF 8.63
P/B 0.77
P/tB 0.77
EV/EBITDA 10.39
EPS(TTM)19.72
EY38.74%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)5.89
FCFY11.57%
OCF(TTM)5.9
OCFY11.59%
SpS10.87
BVpS66.25
TBVpS66.25
PEG (NY)N/A
PEG (5Y)0.15
Profitability
Industry RankSector Rank
ROA 16.61%
ROE 29.77%
ROCE N/A
ROIC 6.06%
ROICexc 6.1%
ROICexgc 6.1%
OM 83.92%
PM (TTM) 181.48%
GM 91.36%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)3.96%
ROIC(5y)N/A
ROICexc(3y)3.96%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-2.16%
ROICexcg growth 5Y-1.62%
ROICexc growth 3Y-2.16%
ROICexc growth 5Y-1.62%
OM growth 3Y0.74%
OM growth 5Y-0.14%
PM growth 3Y54.54%
PM growth 5Y13.4%
GM growth 3Y0.39%
GM growth 5Y0%
F-Score5
Asset Turnover0.09
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 8.41
Debt/EBITDA 5.43
Cap/Depr 137.14%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 29.87%
Current Ratio 0.19
Quick Ratio 0.19
Altman-Z 1.05
F-Score5
WACC4.95%
ROIC/WACC1.22
Cap/Depr(3y)63.52%
Cap/Depr(5y)86.55%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)163.62%
Profit Quality(5y)147.46%
High Growth Momentum
Growth
EPS 1Y (TTM)108.49%
EPS 3Y61.94%
EPS 5Y16.73%
EPS Q2Q%75.95%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.33%
Revenue growth 3Y4.79%
Revenue growth 5Y3.25%
Sales Q2Q%4.68%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y9.36%
EBIT growth 3Y5.57%
EBIT growth 5Y3.1%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y2.28%
FCF growth 3Y6.4%
FCF growth 5Y2.8%
OCF growth 1Y2.35%
OCF growth 3Y6.27%
OCF growth 5Y2.52%