FORFARMERS NV (FFARM.AS) Fundamental Analysis & Valuation

AMS:FFARM • NL0011832811

6.68 EUR
+0.27 (+4.21%)
Last: Mar 4, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This FFARM.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Overall FFARM gets a fundamental rating of 6 out of 10. We evaluated FFARM against 61 industry peers in the Food Products industry. FFARM has an average financial health and profitability rating. FFARM may be a bit undervalued, certainly considering the very reasonable score on growth These ratings would make FFARM suitable for value investing!


Dividend Valuation Growth Profitability Health

6

1. FFARM.AS Profitability Analysis

1.1 Basic Checks

  • In the past year FFARM was profitable.
  • FFARM had a positive operating cash flow in the past year.
  • FFARM had positive earnings in 4 of the past 5 years.
  • In the past 5 years FFARM always reported a positive cash flow from operatings.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M 80M 100M

1.2 Ratios

  • The Return On Assets of FFARM (4.82%) is better than 68.85% of its industry peers.
  • The Return On Equity of FFARM (15.46%) is better than 81.97% of its industry peers.
  • FFARM has a Return On Invested Capital of 9.76%. This is amongst the best in the industry. FFARM outperforms 85.25% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for FFARM is below the industry average of 6.64%.
  • The last Return On Invested Capital (9.76%) for FFARM is above the 3 year average (4.52%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.82%
ROE 15.46%
ROIC 9.76%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

  • FFARM's Profit Margin of 1.71% is in line compared to the rest of the industry. FFARM outperforms 49.18% of its industry peers.
  • FFARM's Profit Margin has improved in the last couple of years.
  • FFARM has a worse Operating Margin (2.48%) than 67.21% of its industry peers.
  • In the last couple of years the Operating Margin of FFARM has remained more or less at the same level.
  • With a Gross Margin value of 18.91%, FFARM is not doing good in the industry: 75.41% of the companies in the same industry are doing better.
  • In the last couple of years the Gross Margin of FFARM has remained more or less at the same level.
Industry RankSector Rank
OM 2.48%
PM (TTM) 1.71%
GM 18.91%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. FFARM.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FFARM is creating some value.
  • The number of shares outstanding for FFARM remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, FFARM has less shares outstanding
  • Compared to 1 year ago, FFARM has a worse debt to assets ratio.
FFARM.AS Yearly Shares OutstandingFFARM.AS Yearly Shares OutstandingYearly Shares Outstanding 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

  • FFARM has an Altman-Z score of 3.83. 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 3.83, FFARM belongs to the top of the industry, outperforming 86.89% of the companies in the same industry.
  • FFARM has a debt to FCF ratio of 2.61. This is a good value and a sign of high solvency as FFARM would need 2.61 years to pay back of all of its debts.
  • FFARM has a better Debt to FCF ratio (2.61) than 90.16% of its industry peers.
  • A Debt/Equity ratio of 0.33 indicates that FFARM is not too dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.33, FFARM is doing good in the industry, outperforming 73.77% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.33
Debt/FCF 2.61
Altman-Z 3.83
ROIC/WACC1.43
WACC6.81%
FFARM.AS Yearly LT Debt VS Equity VS FCFFFARM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 1.10 indicates that FFARM should not have too much problems paying its short term obligations.
  • FFARM has a Current ratio of 1.10. This is in the lower half of the industry: FFARM underperforms 65.57% of its industry peers.
  • A Quick Ratio of 0.81 indicates that FFARM may have some problems paying its short term obligations.
  • FFARM's Quick ratio of 0.81 is in line compared to the rest of the industry. FFARM outperforms 49.18% of its industry peers.
Industry RankSector Rank
Current Ratio 1.1
Quick Ratio 0.81
FFARM.AS Yearly Current Assets VS Current LiabilitesFFARM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. FFARM.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 170.80% over the past year.
  • The Earnings Per Share has been growing by 14.71% on average over the past years. This is quite good.
  • FFARM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.76%.
  • 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)170.8%
EPS 3Y40.88%
EPS 5Y14.71%
EPS Q2Q%440%
Revenue 1Y (TTM)8.76%
Revenue growth 3Y0.93%
Revenue growth 5Y2.2%
Sales Q2Q%15.97%

3.2 Future

  • Based on estimates for the next years, FFARM will show a very strong growth in Earnings Per Share. The EPS will grow by 36.58% on average per year.
  • Based on estimates for the next years, FFARM will show a small growth in Revenue. The Revenue will grow by 5.59% on average per year.
EPS Next Y117.81%
EPS Next 2Y51.7%
EPS Next 3Y36.58%
EPS Next 5YN/A
Revenue Next Year18.16%
Revenue Next 2Y7.65%
Revenue Next 3Y5.59%
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 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. FFARM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 12.15, which indicates a correct valuation of FFARM.
  • Compared to the rest of the industry, the Price/Earnings ratio of FFARM indicates a somewhat cheap valuation: FFARM is cheaper than 78.69% of the companies listed in the same industry.
  • FFARM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.03.
  • With a Price/Forward Earnings ratio of 11.58, 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 68.85% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of FFARM to the average of the S&P500 Index (25.11), we can say FFARM is valued rather cheaply.
Industry RankSector Rank
PE 12.15
Fwd PE 11.58
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 cheaply inside the industry as 85.25% of the companies are valued more expensively.
  • FFARM's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FFARM is cheaper than 85.25% of the companies in the same industry.
Industry RankSector Rank
P/FCF 9.06
EV/EBITDA 5.14
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 has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as FFARM's earnings are expected to grow with 36.58% in the coming years.
PEG (NY)0.1
PEG (5Y)0.83
EPS Next 2Y51.7%
EPS Next 3Y36.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. FFARM.AS Dividend Analysis

5.1 Amount

  • FFARM has a Yearly Dividend Yield of 4.56%, which is a nice return.
  • FFARM's Dividend Yield is rather good when compared to the industry average which is at 2.47. FFARM pays more dividend than 81.97% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, FFARM pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.56%

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 2026 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

  • 42.09% of the earnings are spent on dividend by FFARM. This is a bit on the high side, but may be sustainable.
DP42.09%
EPS Next 2Y51.7%
EPS Next 3Y36.58%
FFARM.AS Yearly Income VS Free CF VS DividendFFARM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 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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FFARM.AS Fundamentals: All Metrics, Ratios and Statistics

FORFARMERS NV

AMS:FFARM (3/4/2026, 7:00:00 PM)

6.68

+0.27 (+4.21%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)02-19
Earnings (Next)05-07
Inst Owners3.65%
Inst Owner ChangeN/A
Ins Owners5.48%
Ins Owner ChangeN/A
Market Cap596.39M
Revenue(TTM)2.96B
Net Income(TTM)50.60M
Analysts86
Price Target7.91 (18.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.56%
Yearly Dividend0.15
Dividend Growth(5Y)-12.97%
DP42.09%
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)30.25%
PT rev (3m)30.25%
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)1.33%
Valuation
Industry RankSector Rank
PE 12.15
Fwd PE 11.58
P/S 0.2
P/FCF 9.06
P/OCF 5.53
P/B 1.82
P/tB 2.8
EV/EBITDA 5.14
EPS(TTM)0.55
EY8.23%
EPS(NY)0.58
Fwd EY8.63%
FCF(TTM)0.74
FCFY11.03%
OCF(TTM)1.21
OCFY18.08%
SpS33.18
BVpS3.66
TBVpS2.39
PEG (NY)0.1
PEG (5Y)0.83
Graham Number6.73
Profitability
Industry RankSector Rank
ROA 4.82%
ROE 15.46%
ROCE 12.38%
ROIC 9.76%
ROICexc 10.85%
ROICexgc 13.71%
OM 2.48%
PM (TTM) 1.71%
GM 18.91%
FCFM 2.22%
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%
ROICexgc growth 3Y23.14%
ROICexgc 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-Score7
Asset Turnover2.82
Health
Industry RankSector Rank
Debt/Equity 0.33
Debt/FCF 2.61
Debt/EBITDA 0.84
Cap/Depr 74.07%
Cap/Sales 1.42%
Interest Coverage 11.47
Cash Conversion 82.86%
Profit Quality 130.04%
Current Ratio 1.1
Quick Ratio 0.81
Altman-Z 3.83
F-Score7
WACC6.81%
ROIC/WACC1.43
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)170.8%
EPS 3Y40.88%
EPS 5Y14.71%
EPS Q2Q%440%
EPS Next Y117.81%
EPS Next 2Y51.7%
EPS Next 3Y36.58%
EPS Next 5YN/A
Revenue 1Y (TTM)8.76%
Revenue growth 3Y0.93%
Revenue growth 5Y2.2%
Sales Q2Q%15.97%
Revenue Next Year18.16%
Revenue Next 2Y7.65%
Revenue Next 3Y5.59%
Revenue Next 5YN/A
EBIT growth 1Y86.29%
EBIT growth 3Y24.06%
EBIT growth 5Y0.93%
EBIT Next Year219.21%
EBIT Next 3Y59.2%
EBIT Next 5Y39.64%
FCF growth 1Y52.22%
FCF growth 3Y40.78%
FCF growth 5Y-6.65%
OCF growth 1Y38.17%
OCF growth 3Y8.69%
OCF growth 5Y-6.1%

FORFARMERS NV / FFARM.AS FAQ

What is the fundamental rating for FFARM stock?

ChartMill assigns a fundamental rating of 6 / 10 to FFARM.AS.


Can you provide the valuation status for FORFARMERS NV?

ChartMill assigns a valuation rating of 8 / 10 to FORFARMERS NV (FFARM.AS). This can be considered as Undervalued.


What is the profitability of FFARM stock?

FORFARMERS NV (FFARM.AS) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for FFARM stock?

The Price/Earnings (PE) ratio for FORFARMERS NV (FFARM.AS) is 12.15 and the Price/Book (PB) ratio is 1.82.


Can you provide the dividend sustainability for FFARM stock?

The dividend rating of FORFARMERS NV (FFARM.AS) is 6 / 10 and the dividend payout ratio is 42.09%.