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FORFARMERS NV (FFARM.AS) Stock Fundamental Analysis

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

3.995  +0.02 (+0.38%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to FFARM. FFARM was compared to 58 industry peers in the Food Products industry. FFARM has an average financial health and profitability rating. FFARM is valued quite cheap, while showing a decent growth score. This is a good combination! 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.
In the past year FFARM had a positive cash flow from operations.
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

The Return On Assets of FFARM (3.33%) is comparable to the rest of the industry.
FFARM's Return On Equity of 9.56% is fine compared to the rest of the industry. FFARM outperforms 62.07% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.90%, FFARM is in the better half of the industry, outperforming 74.14% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for FFARM is below the industry average of 6.77%.
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

FFARM has a Profit Margin of 1.14%. This is in the lower half of the industry: FFARM underperforms 65.52% of its industry peers.
FFARM's Profit Margin has improved in the last couple of years.
FFARM has a worse Operating Margin (2.02%) than 67.24% of its industry peers.
FFARM's Operating Margin has been stable in the last couple of years.
FFARM has a worse Gross Margin (18.88%) than 79.31% 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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5

2. Health

2.1 Basic Checks

FFARM has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, FFARM has about the same amount of shares outstanding.
The number of shares outstanding for FFARM has been reduced compared to 5 years ago.
Compared to 1 year ago, FFARM has a worse debt to assets ratio.
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

An Altman-Z score of 3.79 indicates that FFARM is not in any danger for bankruptcy at the moment.
FFARM's Altman-Z score of 3.79 is amongst the best of the industry. FFARM outperforms 87.93% of its industry peers.
The Debt to FCF ratio of FFARM is 3.80, which is a good value as it means it would take FFARM, 3.80 years of fcf income to pay off all of its debts.
FFARM has a better Debt to FCF ratio (3.80) than 79.31% of its industry peers.
A Debt/Equity ratio of 0.45 indicates that FFARM is not too dependend on debt financing.
FFARM has a Debt to Equity ratio of 0.45. This is in the better half of the industry: FFARM outperforms 62.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 3.8
Altman-Z 3.79
ROIC/WACC1.21
WACC6.5%
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

A Current Ratio of 1.11 indicates that FFARM should not have too much problems paying its short term obligations.
FFARM has a Current ratio of 1.11. This is in the lower half of the industry: FFARM underperforms 68.97% 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.
The Quick ratio of FFARM (0.82) is comparable to the rest of the 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.
The Revenue has decreased by -7.70% in the past year.
FFARM shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.20% yearly.
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
The Revenue is expected to grow by 5.29% on average over the next years.
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

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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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7

4. Valuation

4.1 Price/Earnings Ratio

FFARM is valuated correctly with a Price/Earnings ratio of 12.11.
Compared to the rest of the industry, the Price/Earnings ratio of FFARM indicates a somewhat cheap valuation: FFARM is cheaper than 68.97% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of FFARM to the average of the S&P500 Index (27.15), we can say FFARM is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 9.35, the valuation of FFARM can be described as reasonable.
FFARM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. FFARM is cheaper than 77.59% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.60. FFARM is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 12.11
Fwd PE 9.35
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

89.66% of the companies in the same industry are more expensive than FFARM, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FFARM indicates a somewhat cheap valuation: FFARM is cheaper than 79.31% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 8.49
EV/EBITDA 4.12
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.
FFARM's earnings are expected to grow with 32.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.17
PEG (5Y)0.82
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 5.07%, which is a nice return.
FFARM's Dividend Yield is rather good when compared to the industry average which is at 3.31. FFARM pays more dividend than 87.93% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.42, FFARM pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.07%

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 (6/30/2025, 7:00:00 PM)

3.995

+0.02 (+0.38%)

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 Cap356.67M
Analysts42.5
Price Target4.4 (10.14%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.07%
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)2.78%
PT rev (3m)5.29%
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 12.11
Fwd PE 9.35
P/S 0.13
P/FCF 8.49
P/OCF 5.08
P/B 1.09
P/tB 1.7
EV/EBITDA 4.12
EPS(TTM)0.33
EY8.26%
EPS(NY)0.43
Fwd EY10.7%
FCF(TTM)0.47
FCFY11.78%
OCF(TTM)0.79
OCFY19.68%
SpS30.75
BVpS3.68
TBVpS2.34
PEG (NY)0.17
PEG (5Y)0.82
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 3.79
F-Score6
WACC6.5%
ROIC/WACC1.21
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%