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

AMS:NRP - NL0015000RT3 - Common Stock

7.2 EUR
+0.1 (+1.41%)
Last: 8/29/2025, 7:00:00 PM
Fundamental Rating

5

Overall NRP gets a fundamental rating of 5 out of 10. We evaluated NRP against 69 industry peers in the Real Estate Management & Development industry. While NRP belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NRP has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year NRP was profitable.
In the past year NRP had a positive cash flow from operations.
Of the past 5 years NRP 4 years were profitable.
In the past 5 years NRP always reported a positive cash flow from operatings.
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

Looking at the Return On Assets, with a value of 6.40%, NRP belongs to the top of the industry, outperforming 92.75% of the companies in the same industry.
NRP's Return On Equity of 11.35% is amongst the best of the industry. NRP outperforms 88.41% of its industry peers.
NRP's Return On Invested Capital of 5.70% is amongst the best of the industry. NRP outperforms 91.30% of its industry peers.
NRP had an Average Return On Invested Capital over the past 3 years of 5.49%. This is in line with the industry average of 3.72%.
The 3 year average ROIC (5.49%) for NRP is below the current ROIC(5.70%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.4%
ROE 11.35%
ROIC 5.7%
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

With an excellent Profit Margin value of 63.46%, NRP belongs to the best of the industry, outperforming 85.51% of the companies in the same industry.
In the last couple of years the Profit Margin of NRP has remained more or less at the same level.
The Operating Margin of NRP (62.00%) is better than 82.61% of its industry peers.
In the last couple of years the Operating Margin of NRP has declined.
NRP has a Gross Margin (66.40%) which is in line with 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 62%
PM (TTM) 63.46%
GM 66.4%
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.
Compared to 1 year ago, NRP has more shares outstanding
The number of shares outstanding for NRP has been increased compared to 5 years ago.
NRP has a worse debt/assets ratio than last year.
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

NRP has an Altman-Z score of 1.44. This is a bad value and indicates that NRP is not financially healthy and even has some risk of bankruptcy.
NRP's Altman-Z score of 1.44 is fine compared to the rest of the industry. NRP outperforms 72.46% of its industry peers.
The Debt to FCF ratio of NRP is 7.27, which is on the high side as it means it would take NRP, 7.27 years of fcf income to pay off all of its debts.
NRP has a Debt to FCF ratio of 7.27. This is in the better half of the industry: NRP outperforms 78.26% of its industry peers.
NRP has a Debt/Equity ratio of 0.60. This is a neutral value indicating NRP is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.60, NRP perfoms like the industry average, outperforming 59.42% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 7.27
Altman-Z 1.44
ROIC/WACC0.96
WACC5.92%
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

A Current Ratio of 2.20 indicates that NRP has no problem at all paying its short term obligations.
NRP has a better Current ratio (2.20) than 69.57% of its industry peers.
A Quick Ratio of 2.19 indicates that NRP has no problem at all paying its short term obligations.
NRP has a Quick ratio of 2.19. This is in the better half of the industry: NRP outperforms 75.36% of its industry peers.
Industry RankSector Rank
Current Ratio 2.2
Quick Ratio 2.19
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

The Earnings Per Share has been growing slightly by 2.84% over the past year.
NRP shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.63% yearly.
NRP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.13%.
NRP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.88% yearly.
EPS 1Y (TTM)2.84%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%-14.03%
Revenue 1Y (TTM)9.13%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%8.8%

3.2 Future

NRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.10% yearly.
NRP is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.06% yearly.
EPS Next Y2.3%
EPS Next 2Y4.38%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue Next Year14.26%
Revenue Next 2Y9.89%
Revenue Next 3Y9.06%
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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6

4. Valuation

4.1 Price/Earnings Ratio

NRP is valuated reasonably with a Price/Earnings ratio of 8.89.
Compared to the rest of the industry, the Price/Earnings ratio of NRP indicates a rather cheap valuation: NRP is cheaper than 85.51% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of NRP to the average of the S&P500 Index (27.08), we can say NRP is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 10.76, the valuation of NRP can be described as reasonable.
81.16% of the companies in the same industry are more expensive than NRP, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.72, NRP is valued rather cheaply.
Industry RankSector Rank
PE 8.89
Fwd PE 10.76
NRP.AS Price Earnings VS Forward Price EarningsNRP.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

78.26% of the companies in the same industry are more expensive than NRP, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NRP indicates a somewhat cheap valuation: NRP is cheaper than 69.57% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 12.18
EV/EBITDA 14.06
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 NRP does not grow enough to justify the current Price/Earnings ratio.
NRP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)3.86
PEG (5Y)1.58
EPS Next 2Y4.38%
EPS Next 3Y5.1%

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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 (8/29/2025, 7:00:00 PM)

7.2

+0.1 (+1.41%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)08-19 2025-08-19
Earnings (Next)N/A N/A
Inst Owners40.78%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap5.13B
Analysts76.67
Price Target7.53 (4.58%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.4
Dividend Growth(5Y)8.91%
DP53.12%
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)2.29%
PT rev (3m)2084.65%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.09%
EPS NY rev (3m)-1.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)0.63%
Valuation
Industry RankSector Rank
PE 8.89
Fwd PE 10.76
P/S 5.76
P/FCF 12.18
P/OCF 11.19
P/B 1.03
P/tB 1.05
EV/EBITDA 14.06
EPS(TTM)0.81
EY11.25%
EPS(NY)0.67
Fwd EY9.29%
FCF(TTM)0.59
FCFY8.21%
OCF(TTM)0.64
OCFY8.94%
SpS1.25
BVpS6.99
TBVpS6.88
PEG (NY)3.86
PEG (5Y)1.58
Profitability
Industry RankSector Rank
ROA 6.4%
ROE 11.35%
ROCE 6.42%
ROIC 5.7%
ROICexc 5.97%
ROICexgc 6.03%
OM 62%
PM (TTM) 63.46%
GM 66.4%
FCFM 47.26%
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-Score6
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 7.27
Debt/EBITDA 5.43
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.13
Cash Conversion 82.58%
Profit Quality 74.47%
Current Ratio 2.2
Quick Ratio 2.19
Altman-Z 1.44
F-Score6
WACC5.92%
ROIC/WACC0.96
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)2.84%
EPS 3Y31.37%
EPS 5Y5.63%
EPS Q2Q%-14.03%
EPS Next Y2.3%
EPS Next 2Y4.38%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue 1Y (TTM)9.13%
Revenue growth 3Y16.72%
Revenue growth 5Y7.88%
Sales Q2Q%8.8%
Revenue Next Year14.26%
Revenue Next 2Y9.89%
Revenue Next 3Y9.06%
Revenue Next 5YN/A
EBIT growth 1Y11.63%
EBIT growth 3Y20.22%
EBIT growth 5Y6.07%
EBIT Next Year17.19%
EBIT Next 3Y10.37%
EBIT Next 5YN/A
FCF growth 1Y19.65%
FCF growth 3Y17.52%
FCF growth 5Y5.7%
OCF growth 1Y30.27%
OCF growth 3Y18.48%
OCF growth 5Y6.21%