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EUROCOMMERCIAL PROPERTIES NV (ECMPA.AS) Stock Fundamental Analysis

AMS:ECMPA - Euronext Amsterdam - NL0015000K93 - REIT - Currency: EUR

26.1  +0.35 (+1.36%)

Fundamental Rating

5

Taking everything into account, ECMPA scores 5 out of 10 in our fundamental rating. ECMPA was compared to 42 industry peers in the Diversified REITs industry. While ECMPA belongs to the best of the industry regarding profitability, there are concerns on its financial health. ECMPA 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

In the past year ECMPA was profitable.
ECMPA had a positive operating cash flow in the past year.
In multiple years ECMPA reported negative net income over the last 5 years.
ECMPA had a positive operating cash flow in each of the past 5 years.
ECMPA.AS Yearly Net Income VS EBIT VS OCF VS FCFECMPA.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 0 50M 100M 150M 200M 250M

1.2 Ratios

With an excellent Return On Assets value of 5.37%, ECMPA belongs to the best of the industry, outperforming 88.10% of the companies in the same industry.
The Return On Equity of ECMPA (10.12%) is better than 88.10% of its industry peers.
ECMPA has a better Return On Invested Capital (5.69%) than 90.48% of its industry peers.
ECMPA had an Average Return On Invested Capital over the past 3 years of 3.73%. This is in line with the industry average of 3.70%.
The 3 year average ROIC (3.73%) for ECMPA is below the current ROIC(5.69%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.37%
ROE 10.12%
ROIC 5.69%
ROA(3y)2.97%
ROA(5y)2.29%
ROE(3y)5.65%
ROE(5y)4.45%
ROIC(3y)3.73%
ROIC(5y)3.62%
ECMPA.AS Yearly ROA, ROE, ROICECMPA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

With a decent Profit Margin value of 54.14%, ECMPA is doing good in the industry, outperforming 61.90% of the companies in the same industry.
ECMPA's Profit Margin has improved in the last couple of years.
ECMPA has a Operating Margin (65.72%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of ECMPA has remained more or less at the same level.
Looking at the Gross Margin, with a value of 71.40%, ECMPA is doing worse than 61.90% of the companies in the same industry.
ECMPA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 65.72%
PM (TTM) 54.14%
GM 71.4%
OM growth 3Y-0.78%
OM growth 5Y-0.75%
PM growth 3Y15.88%
PM growth 5Y16.12%
GM growth 3Y0.61%
GM growth 5Y-0.39%
ECMPA.AS Yearly Profit, Operating, Gross MarginsECMPA.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

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3

2. Health

2.1 Basic Checks

ECMPA has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
ECMPA has more shares outstanding than it did 1 year ago.
The number of shares outstanding for ECMPA has been increased compared to 5 years ago.
ECMPA has a better debt/assets ratio than last year.
ECMPA.AS Yearly Shares OutstandingECMPA.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
ECMPA.AS Yearly Total Debt VS Total AssetsECMPA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

Based on the Altman-Z score of 1.23, we must say that ECMPA is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of ECMPA (1.23) is better than 80.95% of its industry peers.
ECMPA has a debt to FCF ratio of 24.71. This is a negative value and a sign of low solvency as ECMPA would need 24.71 years to pay back of all of its debts.
ECMPA's Debt to FCF ratio of 24.71 is on the low side compared to the rest of the industry. ECMPA is outperformed by 61.90% of its industry peers.
ECMPA has a Debt/Equity ratio of 0.69. This is a neutral value indicating ECMPA is somewhat dependend on debt financing.
ECMPA has a Debt to Equity ratio of 0.69. This is in the better half of the industry: ECMPA outperforms 61.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 24.71
Altman-Z 1.23
ROIC/WACC1.13
WACC5.04%
ECMPA.AS Yearly LT Debt VS Equity VS FCFECMPA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

ECMPA has a Current Ratio of 0.39. This is a bad value and indicates that ECMPA is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.39, ECMPA perfoms like the industry average, outperforming 45.24% of the companies in the same industry.
ECMPA has a Quick Ratio of 0.39. This is a bad value and indicates that ECMPA is not financially healthy enough and could expect problems in meeting its short term obligations.
ECMPA's Quick ratio of 0.39 is in line compared to the rest of the industry. ECMPA outperforms 47.62% of its industry peers.
Industry RankSector Rank
Current Ratio 0.39
Quick Ratio 0.39
ECMPA.AS Yearly Current Assets VS Current LiabilitesECMPA.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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4

3. Growth

3.1 Past

ECMPA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 874.78%, which is quite impressive.
Measured over the past years, ECMPA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.49% on average per year.
ECMPA shows a small growth in Revenue. In the last year, the Revenue has grown by 2.43%.
ECMPA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.35% yearly.
EPS 1Y (TTM)874.78%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%242.55%
Revenue 1Y (TTM)2.43%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%0.78%

3.2 Future

The Earnings Per Share is expected to grow by 2.56% on average over the next years.
The Revenue is expected to grow by 0.59% on average over the next years.
EPS Next Y2.77%
EPS Next 2Y2.59%
EPS Next 3Y2.56%
EPS Next 5YN/A
Revenue Next Year1.37%
Revenue Next 2Y1.92%
Revenue Next 3Y1.13%
Revenue Next 5Y0.59%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ECMPA.AS Yearly Revenue VS EstimatesECMPA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 50M 100M 150M 200M 250M
ECMPA.AS Yearly EPS VS EstimatesECMPA.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 6.64, the valuation of ECMPA can be described as very cheap.
Based on the Price/Earnings ratio, ECMPA is valued cheaper than 92.86% of the companies in the same industry.
ECMPA is valuated cheaply when we compare the Price/Earnings ratio to 28.10, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 10.36, which indicates a very decent valuation of ECMPA.
66.67% of the companies in the same industry are more expensive than ECMPA, based on the Price/Forward Earnings ratio.
ECMPA is valuated cheaply when we compare the Price/Forward Earnings ratio to 20.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 6.64
Fwd PE 10.36
ECMPA.AS Price Earnings VS Forward Price EarningsECMPA.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

90.48% of the companies in the same industry are more expensive than ECMPA, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, ECMPA is valued a bit more expensive than 73.81% of the companies in the same industry.
Industry RankSector Rank
P/FCF 22.7
EV/EBITDA 11.38
ECMPA.AS Per share dataECMPA.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
ECMPA has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.39
PEG (5Y)0.36
EPS Next 2Y2.59%
EPS Next 3Y2.56%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.07%, ECMPA is a good candidate for dividend investing.
ECMPA's Dividend Yield is a higher than the industry average which is at 7.56.
Compared to an average S&P500 Dividend Yield of 2.43, ECMPA pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.07%

5.2 History

The dividend of ECMPA decreases each year by -5.38%.
Dividend Growth(5Y)-5.38%
Div Incr Years1
Div Non Decr Years1
ECMPA.AS Yearly Dividends per shareECMPA.AS Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

ECMPA pays out 33.65% of its income as dividend. This is a sustainable payout ratio.
DP33.65%
EPS Next 2Y2.59%
EPS Next 3Y2.56%
ECMPA.AS Yearly Income VS Free CF VS DividendECMPA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M 250M
ECMPA.AS Dividend Payout.ECMPA.AS Dividend Payout, showing the Payout Ratio.ECMPA.AS Dividend Payout.PayoutRetained Earnings

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EUROCOMMERCIAL PROPERTIES NV

AMS:ECMPA (5/5/2025, 5:29:47 PM)

26.1

+0.35 (+1.36%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)03-06 2025-03-06/amc
Earnings (Next)05-08 2025-05-08
Inst Owners36.12%
Inst Owner ChangeN/A
Ins Owners18.58%
Ins Owner ChangeN/A
Market Cap1.43B
Analysts83.16
Price Target28.21 (8.08%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.07%
Yearly Dividend1.33
Dividend Growth(5Y)-5.38%
DP33.65%
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)0.26%
PT rev (3m)1.15%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.38%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)0.31%
Valuation
Industry RankSector Rank
PE 6.64
Fwd PE 10.36
P/S 3.68
P/FCF 22.7
P/OCF 14.04
P/B 0.69
P/tB 0.69
EV/EBITDA 11.38
EPS(TTM)3.93
EY15.06%
EPS(NY)2.52
Fwd EY9.65%
FCF(TTM)1.15
FCFY4.4%
OCF(TTM)1.86
OCFY7.12%
SpS7.1
BVpS37.98
TBVpS37.98
PEG (NY)2.39
PEG (5Y)0.36
Profitability
Industry RankSector Rank
ROA 5.37%
ROE 10.12%
ROCE 6.92%
ROIC 5.69%
ROICexc 5.75%
ROICexgc 5.75%
OM 65.72%
PM (TTM) 54.14%
GM 71.4%
FCFM 16.19%
ROA(3y)2.97%
ROA(5y)2.29%
ROE(3y)5.65%
ROE(5y)4.45%
ROIC(3y)3.73%
ROIC(5y)3.62%
ROICexc(3y)3.78%
ROICexc(5y)3.69%
ROICexgc(3y)3.78%
ROICexgc(5y)3.69%
ROCE(3y)4.54%
ROCE(5y)4.41%
ROICexcg growth 3Y1.8%
ROICexcg growth 5Y2.98%
ROICexc growth 3Y1.8%
ROICexc growth 5Y2.98%
OM growth 3Y-0.78%
OM growth 5Y-0.75%
PM growth 3Y15.88%
PM growth 5Y16.12%
GM growth 3Y0.61%
GM growth 5Y-0.39%
F-Score6
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 24.71
Debt/EBITDA 5.54
Cap/Depr 1982.5%
Cap/Sales 9.99%
Interest Coverage 4.98
Cash Conversion 39.54%
Profit Quality 29.9%
Current Ratio 0.39
Quick Ratio 0.39
Altman-Z 1.23
F-Score6
WACC5.04%
ROIC/WACC1.13
Cap/Depr(3y)1687.63%
Cap/Depr(5y)2052.22%
Cap/Sales(3y)12.12%
Cap/Sales(5y)16.51%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)874.78%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%242.55%
EPS Next Y2.77%
EPS Next 2Y2.59%
EPS Next 3Y2.56%
EPS Next 5YN/A
Revenue 1Y (TTM)2.43%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%0.78%
Revenue Next Year1.37%
Revenue Next 2Y1.92%
Revenue Next 3Y1.13%
Revenue Next 5Y0.59%
EBIT growth 1Y2.77%
EBIT growth 3Y1.97%
EBIT growth 5Y1.58%
EBIT Next Year-1.58%
EBIT Next 3Y0.27%
EBIT Next 5YN/A
FCF growth 1Y-28.49%
FCF growth 3Y-3.5%
FCF growth 5Y5.65%
OCF growth 1Y-12.74%
OCF growth 3Y1.91%
OCF growth 5Y-1.65%