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NEPI ROCKCASTLE N.V. (NRP.AS) Stock Fundamental Analysis

AMS:NRP - Euronext Amsterdam - NL0015000RT3 - Common Stock - Currency: EUR

6.6  +0.02 (+0.3%)

Fundamental Rating

6

Overall NRP gets a fundamental rating of 6 out of 10. We evaluated NRP against 73 industry peers in the Real Estate Management & Development industry. While NRP has a great profitability rating, there are some minor concerns on its financial health. NRP may be a bit undervalued, certainly considering the very reasonable score on growth With these ratings, NRP could be worth investigating further for value investing!.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

NRP had positive earnings in the past year.
In the past year NRP had a positive cash flow from operations.
Of the past 5 years NRP 4 years were profitable.
NRP had a positive operating cash flow in each of the past 5 years.
NRP.AS Yearly Net Income VS EBIT VS OCF VS FCFNRP.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 200M -200M 400M -400M

1.2 Ratios

The Return On Assets of NRP (6.72%) is better than 95.89% of its industry peers.
NRP has a Return On Equity of 11.97%. This is amongst the best in the industry. NRP outperforms 91.78% of its industry peers.
The Return On Invested Capital of NRP (5.50%) is better than 91.78% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NRP is in line with the industry average of 3.73%.
The 3 year average ROIC (5.49%) for NRP is below the current ROIC(5.50%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.72%
ROE 11.97%
ROIC 5.5%
ROA(3y)6.36%
ROA(5y)4%
ROE(3y)11.4%
ROE(5y)7.16%
ROIC(3y)5.49%
ROIC(5y)5.13%
NRP.AS Yearly ROA, ROE, ROICNRP.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10

1.3 Margins

NRP has a better Profit Margin (68.85%) than 91.78% of its industry peers.
NRP's Profit Margin has been stable in the last couple of years.
The Operating Margin of NRP (61.62%) is better than 86.30% of its industry peers.
In the last couple of years the Operating Margin of NRP has declined.
The Gross Margin of NRP (65.75%) is better than 61.64% of its industry peers.
In the last couple of years the Gross Margin of NRP has remained more or less at the same level.
Industry RankSector Rank
OM 61.62%
PM (TTM) 68.85%
GM 65.75%
OM growth 3Y3%
OM growth 5Y-1.68%
PM growth 3Y16.29%
PM growth 5Y-0.69%
GM growth 3Y-1.09%
GM growth 5Y-0.85%
NRP.AS Yearly Profit, Operating, Gross MarginsNRP.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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5

2. Health

2.1 Basic Checks

NRP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
NRP has more shares outstanding than it did 1 year ago.
The number of shares outstanding for NRP has been increased compared to 5 years ago.
The debt/assets ratio for NRP is higher compared to a year ago.
NRP.AS Yearly Shares OutstandingNRP.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
NRP.AS Yearly Total Debt VS Total AssetsNRP.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 1.34, we must say that NRP is in the distress zone and has some risk of bankruptcy.
NRP's Altman-Z score of 1.34 is fine compared to the rest of the industry. NRP outperforms 65.75% of its industry peers.
The Debt to FCF ratio of NRP is 7.28, which is on the high side as it means it would take NRP, 7.28 years of fcf income to pay off all of its debts.
NRP has a Debt to FCF ratio of 7.28. This is amongst the best in the industry. NRP outperforms 82.19% of its industry peers.
A Debt/Equity ratio of 0.61 indicates that NRP is somewhat dependend on debt financing.
NRP has a Debt to Equity ratio (0.61) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 7.28
Altman-Z 1.34
ROIC/WACC0.94
WACC5.86%
NRP.AS Yearly LT Debt VS Equity VS FCFNRP.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.3 Liquidity

NRP has a Current Ratio of 2.34. This indicates that NRP is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.34, NRP is in the better half of the industry, outperforming 69.86% of the companies in the same industry.
NRP has a Quick Ratio of 2.32. This indicates that NRP is financially healthy and has no problem in meeting its short term obligations.
With a decent Quick ratio value of 2.32, NRP is doing good in the industry, outperforming 73.97% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.34
Quick Ratio 2.32
NRP.AS Yearly Current Assets VS Current LiabilitesNRP.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. Growth

3.1 Past

NRP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 16.19%, which is quite good.
Measured over the past 5 years, NRP shows a small growth in Earnings Per Share. The EPS has been growing by 5.63% on average per year.
NRP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.21%.
Measured over the past years, NRP shows a small growth in Revenue. The Revenue has been growing by 7.88% on average per year.
EPS 1Y (TTM)16.19%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%25.67%
Revenue 1Y (TTM)10.21%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%9.5%

3.2 Future

NRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.11% yearly.
The Revenue is expected to grow by 9.13% on average over the next years. This is quite good.
EPS Next Y3.43%
EPS Next 2Y4.68%
EPS Next 3Y5.11%
EPS Next 5YN/A
Revenue Next Year13.54%
Revenue Next 2Y9.55%
Revenue Next 3Y9.13%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same 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 stable.
NRP.AS Yearly Revenue VS EstimatesNRP.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M
NRP.AS Yearly EPS VS EstimatesNRP.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6

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7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.50 indicates a rather cheap valuation of NRP.
NRP's Price/Earnings ratio is rather cheap when compared to the industry. NRP is cheaper than 93.15% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.19. NRP is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 10.39 indicates a reasonable valuation of NRP.
NRP's Price/Forward Earnings ratio is rather cheap when compared to the industry. NRP is cheaper than 83.56% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of NRP to the average of the S&P500 Index (35.33), we can say NRP is valued rather cheaply.
Industry RankSector Rank
PE 7.5
Fwd PE 10.39
NRP.AS Price Earnings VS Forward Price EarningsNRP.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, NRP is valued a bit cheaper than the industry average as 79.45% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, NRP is valued a bit cheaper than the industry average as 72.60% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 11.23
EV/EBITDA 13.83
NRP.AS Per share dataNRP.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of NRP may justify a higher PE ratio.
PEG (NY)2.19
PEG (5Y)1.33
EPS Next 2Y4.68%
EPS Next 3Y5.11%

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0

5. Dividend

5.1 Amount

NRP does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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NEPI ROCKCASTLE N.V.

AMS:NRP (7/15/2025, 7:00:00 PM)

6.6

+0.02 (+0.3%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)02-25 2025-02-25/amc
Earnings (Next)08-19 2025-08-19
Inst Owners40.78%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap4.70B
Analysts76.67
Price Target0.37 (-94.39%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.4
Dividend Growth(5Y)8.91%
DP47.14%
Div Incr Years0
Div Non Decr Years0
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)1.13%
PT rev (3m)-1.83%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.8%
Valuation
Industry RankSector Rank
PE 7.5
Fwd PE 10.39
P/S 5.51
P/FCF 11.23
P/OCF 10.96
P/B 0.96
P/tB 0.97
EV/EBITDA 13.83
EPS(TTM)0.88
EY13.33%
EPS(NY)0.64
Fwd EY9.63%
FCF(TTM)0.59
FCFY8.91%
OCF(TTM)0.6
OCFY9.13%
SpS1.2
BVpS6.89
TBVpS6.78
PEG (NY)2.19
PEG (5Y)1.33
Profitability
Industry RankSector Rank
ROA 6.72%
ROE 11.97%
ROCE 6.19%
ROIC 5.5%
ROICexc 5.8%
ROICexgc 5.86%
OM 61.62%
PM (TTM) 68.85%
GM 65.75%
FCFM 49.08%
ROA(3y)6.36%
ROA(5y)4%
ROE(3y)11.4%
ROE(5y)7.16%
ROIC(3y)5.49%
ROIC(5y)5.13%
ROICexc(3y)5.75%
ROICexc(5y)5.47%
ROICexgc(3y)5.82%
ROICexgc(5y)5.54%
ROCE(3y)6.18%
ROCE(5y)5.77%
ROICexcg growth 3Y8.52%
ROICexcg growth 5Y1.44%
ROICexc growth 3Y8.62%
ROICexc growth 5Y1.47%
OM growth 3Y3%
OM growth 5Y-1.68%
PM growth 3Y16.29%
PM growth 5Y-0.69%
GM growth 3Y-1.09%
GM growth 5Y-0.85%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 7.28
Debt/EBITDA 5.71
Cap/Depr 503.41%
Cap/Sales 1.21%
Interest Coverage 5.07
Cash Conversion 81.28%
Profit Quality 71.27%
Current Ratio 2.34
Quick Ratio 2.32
Altman-Z 1.34
F-Score5
WACC5.86%
ROIC/WACC0.94
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)72.28%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)16.19%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%25.67%
EPS Next Y3.43%
EPS Next 2Y4.68%
EPS Next 3Y5.11%
EPS Next 5YN/A
Revenue 1Y (TTM)10.21%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%9.5%
Revenue Next Year13.54%
Revenue Next 2Y9.55%
Revenue Next 3Y9.13%
Revenue Next 5YN/A
EBIT growth 1Y14.18%
EBIT growth 3Y20.22%
EBIT growth 5Y6.07%
EBIT Next Year17.19%
EBIT Next 3Y10.37%
EBIT Next 5YN/A
FCF growth 1Y14.14%
FCF growth 3Y17.52%
FCF growth 5Y5.7%
OCF growth 1Y16.96%
OCF growth 3Y18.48%
OCF growth 5Y6.21%