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FORFARMERS NV (FFARM.AS) Stock Fundamental Analysis

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

3.74  -0.03 (-0.8%)

Fundamental Rating

6

Taking everything into account, FFARM scores 6 out of 10 in our fundamental rating. FFARM was compared to 60 industry peers in the Food Products industry. FFARM has only an average score on both its financial health and profitability. A decent growth rate in combination with a cheap valuation! Better keep an eye on FFARM. These ratings would make FFARM suitable 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.
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 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 comparable to the rest of the industry.
FFARM has a better Return On Equity (9.56%) than 63.33% of its industry peers.
The Return On Invested Capital of FFARM (7.90%) is better than 76.67% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FFARM is in line with the industry average of 6.51%.
The 3 year average ROIC (4.52%) for FFARM is below the current ROIC(7.90%), indicating increased profibility in the last year.
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

Looking at the Profit Margin, with a value of 1.14%, FFARM is doing worse than 63.33% of the companies in the same industry.
FFARM's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 2.02%, FFARM is not doing good in the industry: 68.33% of the companies in the same industry are doing better.
FFARM's Operating Margin has been stable in the last couple of years.
FFARM's Gross Margin of 18.88% is on the low side compared to the rest of the industry. FFARM is outperformed by 76.67% of its industry peers.
FFARM's Gross Margin has been stable in the last couple of years.
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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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FFARM is still creating some value.
Compared to 1 year ago, FFARM has about the same amount of shares outstanding.
FFARM has less shares outstanding than it did 5 years ago.
The debt/assets ratio for FFARM is higher compared to a year ago.
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 3.77. This indicates that FFARM is financially healthy and has little risk of bankruptcy at the moment.
FFARM has a Altman-Z score of 3.77. This is amongst the best in the industry. FFARM outperforms 88.33% of its industry peers.
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.
FFARM has a better Debt to FCF ratio (3.80) than 81.67% 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's Debt to Equity ratio of 0.45 is fine compared to the rest of the industry. FFARM outperforms 65.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 3.8
Altman-Z 3.77
ROIC/WACC1.23
WACC6.43%
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 66.67% of its industry peers.
A Quick Ratio of 0.82 indicates that FFARM may have some problems paying its short term obligations.
With a Quick ratio value of 0.82, FFARM perfoms like the industry average, outperforming 50.00% 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.
The Revenue has been growing slightly by 2.20% on average over the past years.
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

The Earnings Per Share is expected to grow by 32.03% on average over the next years. This is a very strong growth
FFARM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.49% yearly.
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 3Y3.49%
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.
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.
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

FFARM is valuated reasonably with a Price/Earnings ratio of 11.33.
FFARM's Price/Earnings ratio is a bit cheaper when compared to the industry. FFARM is cheaper than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.03, FFARM is valued rather cheaply.
FFARM is valuated reasonably with a Price/Forward Earnings ratio of 8.75.
Based on the Price/Forward Earnings ratio, FFARM is valued cheaply inside the industry as 83.33% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 36.28. FFARM is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 11.33
Fwd PE 8.75
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

FFARM's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. FFARM is cheaper than 88.33% 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 81.67% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.95
EV/EBITDA 3.93
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

FFARM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as FFARM's earnings are expected to grow with 32.03% in the coming years.
PEG (NY)0.16
PEG (5Y)0.77
EPS Next 2Y33.7%
EPS Next 3Y32.03%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.29%, FFARM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.41, FFARM pays a better dividend. On top of this FFARM pays more dividend than 90.00% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, FFARM pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.29%

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 (8/5/2025, 7:00:00 PM)

3.74

-0.03 (-0.8%)

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 Cap333.91M
Analysts42.5
Price Target4.4 (17.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.29%
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)0%
Valuation
Industry RankSector Rank
PE 11.33
Fwd PE 8.75
P/S 0.12
P/FCF 7.95
P/OCF 4.76
P/B 1.02
P/tB 1.6
EV/EBITDA 3.93
EPS(TTM)0.33
EY8.82%
EPS(NY)0.43
Fwd EY11.43%
FCF(TTM)0.47
FCFY12.58%
OCF(TTM)0.79
OCFY21.02%
SpS30.75
BVpS3.68
TBVpS2.34
PEG (NY)0.16
PEG (5Y)0.77
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 3.77
F-Score6
WACC6.43%
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 3Y3.49%
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%