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Beter Bed Holding NV (BBED.AS) Stock Fundamental Analysis

Europe - AMS:BBED - NL0000339703 - Common Stock

5.98 EUR
-0.02 (-0.33%)
Last: 12/28/2023, 7:00:00 PM
Fundamental Rating

6

Overall BBED gets a fundamental rating of 6 out of 10. We evaluated BBED against 47 industry peers in the Specialty Retail industry. BBED has an excellent profitability rating, but there are some minor concerns on its financial health. BBED has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

BBED had positive earnings in the past year.
In the past year BBED had a positive cash flow from operations.
In multiple years BBED reported negative net income over the last 5 years.
BBED had a positive operating cash flow in each of the past 5 years.
BBED.AS Yearly Net Income VS EBIT VS OCF VS FCFBBED.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 0 20M -20M 40M -40M

1.2 Ratios

The Return On Assets of BBED (6.03%) is better than 84.44% of its industry peers.
The Return On Equity of BBED (21.58%) is better than 91.11% of its industry peers.
BBED has a Return On Invested Capital of 12.64%. This is amongst the best in the industry. BBED outperforms 91.11% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BBED is significantly above the industry average of 8.09%.
Industry RankSector Rank
ROA 6.03%
ROE 21.58%
ROIC 12.64%
ROA(3y)6.9%
ROA(5y)-9.74%
ROE(3y)36.63%
ROE(5y)-334.45%
ROIC(3y)16.57%
ROIC(5y)11.07%
BBED.AS Yearly ROA, ROE, ROICBBED.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 -500 -1K -1.5K

1.3 Margins

Looking at the Profit Margin, with a value of 3.25%, BBED is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
BBED's Profit Margin has been stable in the last couple of years.
BBED has a better Operating Margin (4.79%) than 73.33% of its industry peers.
BBED's Operating Margin has been stable in the last couple of years.
With a decent Gross Margin value of 55.49%, BBED is doing good in the industry, outperforming 80.00% of the companies in the same industry.
BBED's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 4.79%
PM (TTM) 3.25%
GM 55.49%
OM growth 3Y152.09%
OM growth 5Y-0.33%
PM growth 3YN/A
PM growth 5Y-0.28%
GM growth 3Y1.28%
GM growth 5Y-0.92%
BBED.AS Yearly Profit, Operating, Gross MarginsBBED.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 20 -20 40

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so BBED is creating value.
The number of shares outstanding for BBED remains at a similar level compared to 1 year ago.
The debt/assets ratio for BBED has been reduced compared to a year ago.
BBED.AS Yearly Shares OutstandingBBED.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M 20M 25M
BBED.AS Yearly Total Debt VS Total AssetsBBED.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 50M 100M 150M

2.2 Solvency

An Altman-Z score of 3.27 indicates that BBED is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 3.27, BBED is doing good in the industry, outperforming 80.00% of the companies in the same industry.
BBED has a debt to FCF ratio of 2.00. This is a good value and a sign of high solvency as BBED would need 2.00 years to pay back of all of its debts.
The Debt to FCF ratio of BBED (2.00) is better than 91.11% of its industry peers.
A Debt/Equity ratio of 0.94 indicates that BBED is somewhat dependend on debt financing.
The Debt to Equity ratio of BBED (0.94) is worse than 77.78% of its industry peers.
Although BBED does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.94
Debt/FCF 2
Altman-Z 3.27
ROIC/WACC2.03
WACC6.22%
BBED.AS Yearly LT Debt VS Equity VS FCFBBED.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 20M 40M 60M

2.3 Liquidity

A Current Ratio of 1.11 indicates that BBED should not have too much problems paying its short term obligations.
BBED has a worse Current ratio (1.11) than 64.44% of its industry peers.
BBED has a Quick Ratio of 1.11. This is a bad value and indicates that BBED is not financially healthy enough and could expect problems in meeting its short term obligations.
BBED has a Quick ratio of 0.60. This is comparable to the rest of the industry: BBED outperforms 46.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.11
Quick Ratio 0.6
BBED.AS Yearly Current Assets VS Current LiabilitesBBED.AS 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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4

3. Growth

3.1 Past

BBED shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -36.87%.
The earnings per share for BBED have been decreasing by -15.40% on average. This is quite bad
The Revenue has been growing slightly by 2.66% in the past year.
Measured over the past years, BBED shows a very negative growth in Revenue. The Revenue has been decreasing by -10.91% on average per year.
EPS 1Y (TTM)-36.87%
EPS 3YN/A
EPS 5Y-15.4%
EPS Q2Q%108.34%
Revenue 1Y (TTM)2.66%
Revenue growth 3Y7.28%
Revenue growth 5Y-10.91%
Sales Q2Q%5.4%

3.2 Future

Based on estimates for the next years, BBED will show a very strong growth in Earnings Per Share. The EPS will grow by 24.64% on average per year.
Based on estimates for the next years, BBED will show a small growth in Revenue. The Revenue will grow by 7.30% on average per year.
EPS Next Y29.79%
EPS Next 2Y19.4%
EPS Next 3Y24.64%
EPS Next 5YN/A
Revenue Next Year7.61%
Revenue Next 2Y7.14%
Revenue Next 3Y7.3%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better 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.
BBED.AS Yearly Revenue VS EstimatesBBED.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
BBED.AS Yearly EPS VS EstimatesBBED.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0.2 0.4 0.6 0.8 1

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 22.15, which indicates a rather expensive current valuation of BBED.
Based on the Price/Earnings ratio, BBED is valued a bit cheaper than 64.44% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.30, BBED is valued at the same level.
With a Price/Forward Earnings ratio of 17.50, BBED is valued on the expensive side.
66.67% of the companies in the same industry are more expensive than BBED, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of BBED to the average of the S&P500 Index (22.73), we can say BBED is valued slightly cheaper.
Industry RankSector Rank
PE 22.15
Fwd PE 17.5
BBED.AS Price Earnings VS Forward Price EarningsBBED.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BBED is valued a bit cheaper than the industry average as 71.11% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, BBED is valued a bit cheaper than 73.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.62
EV/EBITDA 5.91
BBED.AS Per share dataBBED.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

BBED's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BBED has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as BBED's earnings are expected to grow with 24.64% in the coming years.
PEG (NY)0.74
PEG (5Y)N/A
EPS Next 2Y19.4%
EPS Next 3Y24.64%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.51%, BBED has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.48, BBED pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.41, BBED has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.51%

5.2 History

The dividend of BBED decreases each year by -27.73%.
Dividend Growth(5Y)-27.73%
Div Incr Years0
Div Non Decr Years0
BBED.AS Yearly Dividends per shareBBED.AS Yearly Dividends per shareYearly Dividends per share 2022 2023 0.05 0.1

5.3 Sustainability

BBED pays out 53.98% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP53.98%
EPS Next 2Y19.4%
EPS Next 3Y24.64%
BBED.AS Yearly Income VS Free CF VS DividendBBED.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 0 20M -20M -40M
BBED.AS Dividend Payout.BBED.AS Dividend Payout, showing the Payout Ratio.BBED.AS Dividend Payout.PayoutRetained Earnings

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Beter Bed Holding NV

AMS:BBED (12/28/2023, 7:00:00 PM)

5.98

-0.02 (-0.33%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
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 Cap162.58M
Analysts45.45
Price Target6.22 (4.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.51%
Yearly Dividend0.15
Dividend Growth(5Y)-27.73%
DP53.98%
Div Incr Years0
Div Non Decr Years0
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 RankSector Rank
PE 22.15
Fwd PE 17.5
P/S 0.69
P/FCF 6.62
P/OCF 5.26
P/B 4.59
P/tB 5.55
EV/EBITDA 5.91
EPS(TTM)0.27
EY4.52%
EPS(NY)0.34
Fwd EY5.71%
FCF(TTM)0.9
FCFY15.11%
OCF(TTM)1.14
OCFY19%
SpS8.66
BVpS1.3
TBVpS1.08
PEG (NY)0.74
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.03%
ROE 21.58%
ROCE 16.26%
ROIC 12.64%
ROICexc 20.13%
ROICexgc 23.44%
OM 4.79%
PM (TTM) 3.25%
GM 55.49%
FCFM 10.43%
ROA(3y)6.9%
ROA(5y)-9.74%
ROE(3y)36.63%
ROE(5y)-334.45%
ROIC(3y)16.57%
ROIC(5y)11.07%
ROICexc(3y)100.76%
ROICexc(5y)61.78%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)21.81%
ROCE(5y)15.15%
ROICexcg growth 3Y216.69%
ROICexcg growth 5Y11.94%
ROICexc growth 3Y210.68%
ROICexc growth 5Y8.45%
OM growth 3Y152.09%
OM growth 5Y-0.33%
PM growth 3YN/A
PM growth 5Y-0.28%
GM growth 3Y1.28%
GM growth 5Y-0.92%
F-Score5
Asset Turnover1.86
Health
Industry RankSector Rank
Debt/Equity 0.94
Debt/FCF 2
Debt/EBITDA 1.06
Cap/Depr 31.27%
Cap/Sales 2.68%
Interest Coverage 250
Cash Conversion 98.08%
Profit Quality 321.01%
Current Ratio 1.11
Quick Ratio 0.6
Altman-Z 3.27
F-Score5
WACC6.22%
ROIC/WACC2.03
Cap/Depr(3y)24.17%
Cap/Depr(5y)43.17%
Cap/Sales(3y)2.18%
Cap/Sales(5y)2.8%
Profit Quality(3y)348.83%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-36.87%
EPS 3YN/A
EPS 5Y-15.4%
EPS Q2Q%108.34%
EPS Next Y29.79%
EPS Next 2Y19.4%
EPS Next 3Y24.64%
EPS Next 5YN/A
Revenue 1Y (TTM)2.66%
Revenue growth 3Y7.28%
Revenue growth 5Y-10.91%
Sales Q2Q%5.4%
Revenue Next Year7.61%
Revenue Next 2Y7.14%
Revenue Next 3Y7.3%
Revenue Next 5YN/A
EBIT growth 1Y-23.64%
EBIT growth 3Y170.45%
EBIT growth 5Y-11.2%
EBIT Next Year238.95%
EBIT Next 3Y61.88%
EBIT Next 5YN/A
FCF growth 1Y-23.13%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-13.64%
OCF growth 3Y101.23%
OCF growth 5Y10.97%