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

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

6.74  +0.14 (+2.12%)

Fundamental Rating

6

NRP gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 10 industry peers in the Real Estate Management & Development industry. NRP has an excellent profitability rating, but there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on NRP. This makes NRP very considerable for value investing!


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year NRP was profitable.
NRP had a positive operating cash flow in the past year.
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

The Return On Assets of NRP (6.72%) is better than 95.45% of its industry peers.
With an excellent Return On Equity value of 11.97%, NRP belongs to the best of the industry, outperforming 92.42% of the companies in the same industry.
NRP's Return On Invested Capital of 5.50% is amongst the best of the industry. NRP outperforms 92.42% 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 6.38%.
The last Return On Invested Capital (5.50%) for NRP is above the 3 year average (5.49%), which is a sign of increasing profitability.
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 Profit Margin of 68.85%. This is amongst the best in the industry. NRP outperforms 92.42% of its industry peers.
NRP's Profit Margin has been stable in the last couple of years.
NRP has a Operating Margin of 61.62%. This is amongst the best in the industry. NRP outperforms 83.33% of its industry peers.
NRP's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 65.75%, NRP is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
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.
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.
Compared to 1 year ago, NRP has a worse debt to assets ratio.
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 1.36. This is a bad value and indicates that NRP is not financially healthy and even has some risk of bankruptcy.
With a decent Altman-Z score value of 1.36, NRP is doing good in the industry, outperforming 72.73% of the companies in the same industry.
NRP has a debt to FCF ratio of 7.28. This is a slightly negative value and a sign of low solvency as NRP would need 7.28 years to pay back of all of its debts.
The Debt to FCF ratio of NRP (7.28) is better than 81.82% of its industry peers.
A Debt/Equity ratio of 0.61 indicates that NRP is somewhat dependend on debt financing.
NRP's Debt to Equity ratio of 0.61 is fine compared to the rest of the industry. NRP outperforms 63.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 7.28
Altman-Z 1.36
ROIC/WACC0.92
WACC5.97%
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 78.79% 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.
NRP's Quick ratio of 2.32 is amongst the best of the industry. NRP outperforms 83.33% of its industry peers.
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

The Earnings Per Share has grown by an nice 16.19% over the past year.
The Earnings Per Share has been growing slightly by 5.63% on average over the past years.
Looking at the last year, NRP shows a quite strong growth in Revenue. The Revenue has grown by 10.21% in the last year.
The Revenue has been growing slightly by 7.88% on average over the past years.
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.
NRP is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.13% yearly.
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

With a Price/Earnings ratio of 7.66, the valuation of NRP can be described as very cheap.
Based on the Price/Earnings ratio, NRP is valued cheaper than 89.39% of the companies in the same industry.
NRP is valuated cheaply when we compare the Price/Earnings ratio to 26.34, which is the current average of the S&P500 Index.
NRP is valuated reasonably with a Price/Forward Earnings ratio of 10.61.
80.30% of the companies in the same industry are more expensive than NRP, based on the Price/Forward Earnings ratio.
NRP's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
Industry RankSector Rank
PE 7.66
Fwd PE 10.61
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NRP indicates a rather cheap valuation: NRP is cheaper than 81.82% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, NRP is valued a bit cheaper than the industry average as 71.21% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 11.46
EV/EBITDA 14.02
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.
NRP has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.23
PEG (5Y)1.36
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 (6/18/2025, 7:00:00 PM)

6.74

+0.14 (+2.12%)

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 Cap4.80B
Analysts76.67
Price Target0.37 (-94.51%)
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)7.01%
PT rev (3m)-8.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.44%
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 7.66
Fwd PE 10.61
P/S 5.63
P/FCF 11.46
P/OCF 11.19
P/B 0.98
P/tB 0.99
EV/EBITDA 14.02
EPS(TTM)0.88
EY13.06%
EPS(NY)0.64
Fwd EY9.43%
FCF(TTM)0.59
FCFY8.72%
OCF(TTM)0.6
OCFY8.94%
SpS1.2
BVpS6.89
TBVpS6.78
PEG (NY)2.23
PEG (5Y)1.36
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 1.36
F-Score5
WACC5.97%
ROIC/WACC0.92
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%