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FORFARMERS NV (FFARM.AS) Stock Fundamental Analysis

AMS:FFARM - Euronext Amsterdam - NL0011832811 - Common Stock - Currency: EUR

3.778  -0.01 (-0.32%)

Fundamental Rating

6

Taking everything into account, FFARM scores 6 out of 10 in our fundamental rating. FFARM was compared to 55 industry peers in the Food Products industry. FFARM has an average financial health and profitability rating. A decent growth rate in combination with a cheap valuation! Better keep an eye on FFARM. This makes FFARM very considerable for value investing!


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year FFARM was profitable.
FFARM had a positive operating cash flow in the past year.
Of the past 5 years FFARM 4 years were profitable.
FFARM had a positive operating cash flow in each of the past 5 years.
FFARM.AS Yearly Net Income VS EBIT VS OCF VS FCFFFARM.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 20M 40M 60M 80M 100M

1.2 Ratios

FFARM has a Return On Assets (3.33%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 9.56%, FFARM is in the better half of the industry, outperforming 61.82% of the companies in the same industry.
The Return On Invested Capital of FFARM (7.90%) is better than 78.18% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FFARM is below the industry average of 6.56%.
The last Return On Invested Capital (7.90%) for FFARM is above the 3 year average (4.52%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.33%
ROE 9.56%
ROIC 7.9%
ROA(3y)1.66%
ROA(5y)1.6%
ROE(3y)4.87%
ROE(5y)4.38%
ROIC(3y)4.52%
ROIC(5y)5.03%
FFARM.AS Yearly ROA, ROE, ROICFFARM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

FFARM's Profit Margin of 1.14% is on the low side compared to the rest of the industry. FFARM is outperformed by 63.64% of its industry peers.
FFARM's Profit Margin has improved in the last couple of years.
The Operating Margin of FFARM (2.02%) is worse than 65.45% of its industry peers.
In the last couple of years the Operating Margin of FFARM has remained more or less at the same level.
FFARM has a Gross Margin of 18.88%. This is in the lower half of the industry: FFARM underperforms 76.36% of its industry peers.
In the last couple of years the Gross Margin of FFARM has remained more or less at the same level.
Industry RankSector Rank
OM 2.02%
PM (TTM) 1.14%
GM 18.88%
OM growth 3Y22.91%
OM growth 5Y-1.24%
PM growth 3Y36.41%
PM growth 5Y9.73%
GM growth 3Y4.94%
GM growth 5Y1.08%
FFARM.AS Yearly Profit, Operating, Gross MarginsFFARM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FFARM is creating some value.
Compared to 1 year ago, FFARM has about the same amount of shares outstanding.
Compared to 5 years ago, FFARM has less shares outstanding
FFARM has a worse debt/assets ratio than last year.
FFARM.AS Yearly Shares OutstandingFFARM.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
FFARM.AS Yearly Total Debt VS Total AssetsFFARM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

FFARM has an Altman-Z score of 3.78. This indicates that FFARM is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.78, FFARM belongs to the top of the industry, outperforming 89.09% of the companies in the same industry.
FFARM has a debt to FCF ratio of 3.80. This is a good value and a sign of high solvency as FFARM would need 3.80 years to pay back of all of its debts.
The Debt to FCF ratio of FFARM (3.80) is better than 80.00% of its industry peers.
FFARM has a Debt/Equity ratio of 0.45. This is a healthy value indicating a solid balance between debt and equity.
FFARM has a better Debt to Equity ratio (0.45) than 63.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 3.8
Altman-Z 3.78
ROIC/WACC1.23
WACC6.44%
FFARM.AS Yearly LT Debt VS Equity VS FCFFFARM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.3 Liquidity

FFARM has a Current Ratio of 1.11. This is a normal value and indicates that FFARM is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of FFARM (1.11) is worse than 67.27% of its industry peers.
FFARM has a Quick Ratio of 1.11. This is a bad value and indicates that FFARM is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.82, FFARM is in line with its industry, outperforming 49.09% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.11
Quick Ratio 0.82
FFARM.AS Yearly Current Assets VS Current LiabilitesFFARM.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 400M 500M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 4895.65% over the past year.
FFARM shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.71% yearly.
Looking at the last year, FFARM shows a decrease in Revenue. The Revenue has decreased by -7.70% in the last year.
Measured over the past years, FFARM shows a small growth in Revenue. The Revenue has been growing by 2.20% on average per year.
EPS 1Y (TTM)4895.65%
EPS 3Y40.88%
EPS 5Y14.71%
EPS Q2Q%83.47%
Revenue 1Y (TTM)-7.7%
Revenue growth 3Y0.93%
Revenue growth 5Y2.2%
Sales Q2Q%1.62%

3.2 Future

FFARM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 32.03% yearly.
Based on estimates for the next years, FFARM will show a small growth in Revenue. The Revenue will grow by 5.29% on average per year.
EPS Next Y70.55%
EPS Next 2Y33.7%
EPS Next 3Y32.03%
EPS Next 5YN/A
Revenue Next Year6.99%
Revenue Next 2Y4.44%
Revenue Next 3Y5.29%
Revenue Next 5YN/A

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 accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
FFARM.AS Yearly Revenue VS EstimatesFFARM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
FFARM.AS Yearly EPS VS EstimatesFFARM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8 1

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8

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 11.45, the valuation of FFARM can be described as very reasonable.
Based on the Price/Earnings ratio, FFARM is valued a bit cheaper than the industry average as 74.55% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.53. FFARM is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 8.84, the valuation of FFARM can be described as very reasonable.
Based on the Price/Forward Earnings ratio, FFARM is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.71, FFARM is valued rather cheaply.
Industry RankSector Rank
PE 11.45
Fwd PE 8.84
FFARM.AS Price Earnings VS Forward Price EarningsFFARM.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, FFARM is valued cheaper than 90.91% of the companies in the same industry.
FFARM's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FFARM is cheaper than 81.82% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.03
EV/EBITDA 3.95
FFARM.AS Per share dataFFARM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
FFARM's earnings are expected to grow with 32.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.16
PEG (5Y)0.78
EPS Next 2Y33.7%
EPS Next 3Y32.03%

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6

5. Dividend

5.1 Amount

FFARM has a Yearly Dividend Yield of 5.13%, which is a nice return.
FFARM's Dividend Yield is rather good when compared to the industry average which is at 3.28. FFARM pays more dividend than 89.09% of the companies in the same industry.
FFARM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
Industry RankSector Rank
Dividend Yield 5.13%

5.2 History

The dividend of FFARM decreases each year by -12.97%.
Dividend Growth(5Y)-12.97%
Div Incr Years1
Div Non Decr Years1
FFARM.AS Yearly Dividends per shareFFARM.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

FFARM pays out 41.40% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP41.4%
EPS Next 2Y33.7%
EPS Next 3Y32.03%
FFARM.AS Yearly Income VS Free CF VS DividendFFARM.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 20M 40M 60M
FFARM.AS Dividend Payout.FFARM.AS Dividend Payout, showing the Payout Ratio.FFARM.AS Dividend Payout.PayoutRetained Earnings

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FORFARMERS NV

AMS:FFARM (7/23/2025, 3:55:06 PM)

3.778

-0.01 (-0.32%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)05-08 2025-05-08
Earnings (Next)08-07 2025-08-07
Inst Owners3.07%
Inst Owner ChangeN/A
Ins Owners5.48%
Ins Owner ChangeN/A
Market Cap337.30M
Analysts42.5
Price Target4.4 (16.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.13%
Yearly Dividend0.15
Dividend Growth(5Y)-12.97%
DP41.4%
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%
PT rev (3m)2.78%
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)2.77%
Valuation
Industry RankSector Rank
PE 11.45
Fwd PE 8.84
P/S 0.12
P/FCF 8.03
P/OCF 4.8
P/B 1.03
P/tB 1.61
EV/EBITDA 3.95
EPS(TTM)0.33
EY8.73%
EPS(NY)0.43
Fwd EY11.31%
FCF(TTM)0.47
FCFY12.45%
OCF(TTM)0.79
OCFY20.81%
SpS30.75
BVpS3.68
TBVpS2.34
PEG (NY)0.16
PEG (5Y)0.78
Profitability
Industry RankSector Rank
ROA 3.33%
ROE 9.56%
ROCE 10.29%
ROIC 7.9%
ROICexc 8.67%
ROICexgc 11.28%
OM 2.02%
PM (TTM) 1.14%
GM 18.88%
FCFM 1.53%
ROA(3y)1.66%
ROA(5y)1.6%
ROE(3y)4.87%
ROE(5y)4.38%
ROIC(3y)4.52%
ROIC(5y)5.03%
ROICexc(3y)5.02%
ROICexc(5y)6.01%
ROICexgc(3y)6.45%
ROICexgc(5y)7.81%
ROCE(3y)5.89%
ROCE(5y)6.6%
ROICexcg growth 3Y23.14%
ROICexcg growth 5Y0.01%
ROICexc growth 3Y22.42%
ROICexc growth 5Y1.04%
OM growth 3Y22.91%
OM growth 5Y-1.24%
PM growth 3Y36.41%
PM growth 5Y9.73%
GM growth 3Y4.94%
GM growth 5Y1.08%
F-Score6
Asset Turnover2.91
Health
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 3.8
Debt/EBITDA 1.39
Cap/Depr 55.29%
Cap/Sales 1.03%
Interest Coverage 8.27
Cash Conversion 65.98%
Profit Quality 133.76%
Current Ratio 1.11
Quick Ratio 0.82
Altman-Z 3.78
F-Score6
WACC6.44%
ROIC/WACC1.23
Cap/Depr(3y)70.12%
Cap/Depr(5y)76.46%
Cap/Sales(3y)1.08%
Cap/Sales(5y)1.25%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4895.65%
EPS 3Y40.88%
EPS 5Y14.71%
EPS Q2Q%83.47%
EPS Next Y70.55%
EPS Next 2Y33.7%
EPS Next 3Y32.03%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.7%
Revenue growth 3Y0.93%
Revenue growth 5Y2.2%
Sales Q2Q%1.62%
Revenue Next Year6.99%
Revenue Next 2Y4.44%
Revenue Next 3Y5.29%
Revenue Next 5YN/A
EBIT growth 1Y201.09%
EBIT growth 3Y24.06%
EBIT growth 5Y0.93%
EBIT Next Year188.1%
EBIT Next 3Y50.85%
EBIT Next 5YN/A
FCF growth 1Y-19.39%
FCF growth 3Y40.78%
FCF growth 5Y-6.65%
OCF growth 1Y-18.84%
OCF growth 3Y8.69%
OCF growth 5Y-6.1%