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EUROCOMMERCIAL PROPERTIES NV (ECMPA.AS) Stock Fundamental Analysis

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

27.4  +0.65 (+2.43%)

Fundamental Rating

5

Overall ECMPA gets a fundamental rating of 5 out of 10. We evaluated ECMPA against 44 industry peers in the Diversified REITs industry. ECMPA has an excellent profitability rating, but there are concerns on its financial health. ECMPA is not valued too expensively and it also shows a decent growth rate. Finally ECMPA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

ECMPA had positive earnings in the past year.
In the past year ECMPA had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: ECMPA reported negative net income in multiple 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

Looking at the Return On Assets, with a value of 5.44%, ECMPA belongs to the top of the industry, outperforming 88.64% of the companies in the same industry.
With an excellent Return On Equity value of 10.21%, ECMPA belongs to the best of the industry, outperforming 88.64% of the companies in the same industry.
ECMPA's Return On Invested Capital of 5.60% is amongst the best of the industry. ECMPA outperforms 86.36% 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 3.64%.
The last Return On Invested Capital (5.60%) for ECMPA is above the 3 year average (3.73%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.44%
ROE 10.21%
ROIC 5.6%
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

ECMPA has a Profit Margin of 55.16%. This is in the better half of the industry: ECMPA outperforms 63.64% of its industry peers.
ECMPA's Profit Margin has improved in the last couple of years.
ECMPA has a Operating Margin (65.54%) which is in line with its industry peers.
In the last couple of years the Operating Margin of ECMPA has remained more or less at the same level.
With a Gross Margin value of 71.16%, ECMPA is not doing good in the industry: 61.36% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of ECMPA has remained more or less at the same level.
Industry RankSector Rank
OM 65.54%
PM (TTM) 55.16%
GM 71.16%
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

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ECMPA is creating some value.
ECMPA has more shares outstanding than it did 1 year ago.
ECMPA has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ECMPA has been reduced compared to a year ago.
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

ECMPA has an Altman-Z score of 1.24. This is a bad value and indicates that ECMPA is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of ECMPA (1.24) is better than 79.55% of its industry peers.
The Debt to FCF ratio of ECMPA is 22.54, which is on the high side as it means it would take ECMPA, 22.54 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 22.54, ECMPA perfoms like the industry average, outperforming 43.18% of the companies in the same industry.
A Debt/Equity ratio of 0.69 indicates that ECMPA is somewhat dependend on debt financing.
ECMPA's Debt to Equity ratio of 0.69 is in line compared to the rest of the industry. ECMPA outperforms 56.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 22.54
Altman-Z 1.24
ROIC/WACC1.1
WACC5.1%
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

A Current Ratio of 0.40 indicates that ECMPA may have some problems paying its short term obligations.
With a Current ratio value of 0.40, ECMPA perfoms like the industry average, outperforming 47.73% of the companies in the same industry.
A Quick Ratio of 0.40 indicates that ECMPA may have some problems paying its short term obligations.
ECMPA has a Quick ratio of 0.40. This is comparable to the rest of the industry: ECMPA outperforms 50.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.4
Quick Ratio 0.4
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 483.19%, which is quite impressive.
The Earnings Per Share has been growing by 18.49% on average over the past years. This is quite good.
Looking at the last year, ECMPA shows a small growth in Revenue. The Revenue has grown by 2.30% in the last year.
Measured over the past years, ECMPA shows a small growth in Revenue. The Revenue has been growing by 2.35% on average per year.
EPS 1Y (TTM)483.19%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%15.38%
Revenue 1Y (TTM)2.3%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%2.7%

3.2 Future

Based on estimates for the next years, ECMPA will show a small growth in Earnings Per Share. The EPS will grow by 2.56% on average per year.
ECMPA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.59% yearly.
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 6.83, the valuation of ECMPA can be described as very cheap.
90.91% of the companies in the same industry are more expensive than ECMPA, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.25, ECMPA is valued rather cheaply.
A Price/Forward Earnings ratio of 10.62 indicates a reasonable valuation of ECMPA.
65.91% of the companies in the same industry are more expensive than ECMPA, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of ECMPA to the average of the S&P500 Index (22.15), we can say ECMPA is valued rather cheaply.
Industry RankSector Rank
PE 6.83
Fwd PE 10.62
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

ECMPA's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ECMPA is cheaper than 86.36% of the companies in the same industry.
68.18% of the companies in the same industry are cheaper than ECMPA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 21.49
EV/EBITDA 11.66
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)2.46
PEG (5Y)0.37
EPS Next 2Y2.59%
EPS Next 3Y2.56%

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7

5. Dividend

5.1 Amount

ECMPA has a Yearly Dividend Yield of 7.05%, which is a nice return.
ECMPA's Dividend Yield is rather good when compared to the industry average which is at 6.80. ECMPA pays more dividend than 81.82% of the companies in the same industry.
ECMPA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 7.05%

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

33.07% of the earnings are spent on dividend by ECMPA. This is a low number and sustainable payout ratio.
DP33.07%
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 (5/30/2025, 7:00:00 PM)

27.4

+0.65 (+2.43%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)05-08 2025-05-08
Earnings (Next)08-28 2025-08-28
Inst Owners36.12%
Inst Owner ChangeN/A
Ins Owners18.58%
Ins Owner ChangeN/A
Market Cap1.50B
Analysts83.16
Price Target28.21 (2.96%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.05%
Yearly Dividend1.33
Dividend Growth(5Y)-5.38%
DP33.07%
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)0.33%
PT rev (3m)1.15%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.31%
Valuation
Industry RankSector Rank
PE 6.83
Fwd PE 10.62
P/S 3.84
P/FCF 21.49
P/OCF 13.87
P/B 0.71
P/tB 0.71
EV/EBITDA 11.66
EPS(TTM)4.01
EY14.64%
EPS(NY)2.58
Fwd EY9.41%
FCF(TTM)1.27
FCFY4.65%
OCF(TTM)1.98
OCFY7.21%
SpS7.13
BVpS38.52
TBVpS38.52
PEG (NY)2.46
PEG (5Y)0.37
Profitability
Industry RankSector Rank
ROA 5.44%
ROE 10.21%
ROCE 6.81%
ROIC 5.6%
ROICexc 5.64%
ROICexgc 5.64%
OM 65.54%
PM (TTM) 55.16%
GM 71.16%
FCFM 17.87%
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-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 22.54
Debt/EBITDA 5.65
Cap/Depr 1882.05%
Cap/Sales 9.83%
Interest Coverage 5
Cash Conversion 41.92%
Profit Quality 32.4%
Current Ratio 0.4
Quick Ratio 0.4
Altman-Z 1.24
F-Score5
WACC5.1%
ROIC/WACC1.1
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)483.19%
EPS 3Y17.87%
EPS 5Y18.49%
EPS Q2Q%15.38%
EPS Next Y2.77%
EPS Next 2Y2.59%
EPS Next 3Y2.56%
EPS Next 5YN/A
Revenue 1Y (TTM)2.3%
Revenue growth 3Y2.77%
Revenue growth 5Y2.35%
Sales Q2Q%2.7%
Revenue Next Year1.37%
Revenue Next 2Y1.92%
Revenue Next 3Y1.13%
Revenue Next 5Y0.59%
EBIT growth 1Y2.02%
EBIT growth 3Y1.97%
EBIT growth 5Y1.58%
EBIT Next Year-1.76%
EBIT Next 3Y1.07%
EBIT Next 5YN/A
FCF growth 1Y-24.33%
FCF growth 3Y-3.5%
FCF growth 5Y5.65%
OCF growth 1Y-9.67%
OCF growth 3Y1.91%
OCF growth 5Y-1.65%