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Ordina NV (ORDI.AS) Stock Fundamental Analysis

Europe - AMS:ORDI - NL0000440584 - Common Stock

5.7 EUR
+0.02 (+0.35%)
Last: 11/14/2023, 7:00:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to ORDI. ORDI was compared to 69 industry peers in the IT Services industry. ORDI has an excellent profitability rating, but there are some minor concerns on its financial health. While showing a medium growth rate, ORDI is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

ORDI had positive earnings in the past year.
In the past year ORDI had a positive cash flow from operations.
ORDI had positive earnings in each of the past 5 years.
In the past 5 years ORDI always reported a positive cash flow from operatings.
ORDI.AS Yearly Net Income VS EBIT VS OCF VS FCFORDI.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 0 10M 20M 30M 40M

1.2 Ratios

ORDI has a Return On Assets of 8.03%. This is amongst the best in the industry. ORDI outperforms 80.77% of its industry peers.
Looking at the Return On Equity, with a value of 15.07%, ORDI is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
ORDI has a better Return On Invested Capital (13.03%) than 79.49% of its industry peers.
ORDI had an Average Return On Invested Capital over the past 3 years of 12.32%. This is in line with the industry average of 11.46%.
The 3 year average ROIC (12.32%) for ORDI is below the current ROIC(13.03%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 8.03%
ROE 15.07%
ROIC 13.03%
ROA(3y)8.13%
ROA(5y)6.53%
ROE(3y)13.4%
ROE(5y)10.76%
ROIC(3y)12.32%
ROIC(5y)10.57%
ORDI.AS Yearly ROA, ROE, ROICORDI.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 5 10

1.3 Margins

The Profit Margin of ORDI (4.99%) is better than 60.26% of its industry peers.
ORDI's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 7.40%, ORDI perfoms like the industry average, outperforming 55.13% of the companies in the same industry.
ORDI's Operating Margin has improved in the last couple of years.
ORDI has a better Gross Margin (72.01%) than 64.10% of its industry peers.
ORDI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.4%
PM (TTM) 4.99%
GM 72.01%
OM growth 3Y12.91%
OM growth 5Y17.76%
PM growth 3Y11.67%
PM growth 5Y43.68%
GM growth 3Y0.15%
GM growth 5Y-0.02%
ORDI.AS Yearly Profit, Operating, Gross MarginsORDI.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 20 40 60

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6

2. Health

2.1 Basic Checks

ORDI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for ORDI has been reduced compared to 1 year ago.
Compared to 1 year ago, ORDI has an improved debt to assets ratio.
ORDI.AS Yearly Shares OutstandingORDI.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M
ORDI.AS Yearly Total Debt VS Total AssetsORDI.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 50M 100M 150M 200M 250M

2.2 Solvency

ORDI has an Altman-Z score of 4.44. This indicates that ORDI is financially healthy and has little risk of bankruptcy at the moment.
ORDI has a Altman-Z score of 4.44. This is amongst the best in the industry. ORDI outperforms 84.62% of its industry peers.
The Debt to FCF ratio of ORDI is 1.61, which is an excellent value as it means it would take ORDI, only 1.61 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.61, ORDI belongs to the top of the industry, outperforming 80.77% of the companies in the same industry.
A Debt/Equity ratio of 0.21 indicates that ORDI is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.21, ORDI is doing good in the industry, outperforming 65.38% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 1.61
Altman-Z 4.44
ROIC/WACC1.77
WACC7.36%
ORDI.AS Yearly LT Debt VS Equity VS FCFORDI.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 50M 100M 150M

2.3 Liquidity

ORDI has a Current Ratio of 0.94. This is a bad value and indicates that ORDI is not financially healthy enough and could expect problems in meeting its short term obligations.
ORDI has a worse Current ratio (0.94) than 75.64% of its industry peers.
ORDI has a Quick Ratio of 0.94. This is a bad value and indicates that ORDI is not financially healthy enough and could expect problems in meeting its short term obligations.
ORDI has a Quick ratio of 0.94. This is in the lower half of the industry: ORDI underperforms 71.79% of its industry peers.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.94
ORDI.AS Yearly Current Assets VS Current LiabilitesORDI.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M 100M

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4

3. Growth

3.1 Past

ORDI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -15.55%.
The Earnings Per Share has been growing by 50.58% on average over the past years. This is a very strong growth
ORDI shows a small growth in Revenue. In the last year, the Revenue has grown by 6.73%.
ORDI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.66% yearly.
EPS 1Y (TTM)-15.55%
EPS 3Y17.39%
EPS 5Y50.58%
EPS Q2Q%-10.59%
Revenue 1Y (TTM)6.73%
Revenue growth 3Y4.88%
Revenue growth 5Y4.66%
Sales Q2Q%6.18%

3.2 Future

Based on estimates for the next years, ORDI will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.74% on average per year.
Based on estimates for the next years, ORDI will show a small growth in Revenue. The Revenue will grow by 6.35% on average per year.
EPS Next Y9.57%
EPS Next 2Y9.54%
EPS Next 3Y9.74%
EPS Next 5YN/A
Revenue Next Year7.42%
Revenue Next 2Y6.73%
Revenue Next 3Y6.35%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ORDI.AS Yearly Revenue VS EstimatesORDI.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
ORDI.AS Yearly EPS VS EstimatesORDI.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3

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3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 23.75, ORDI is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of ORDI is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 27.38. ORDI is around the same levels.
Based on the Price/Forward Earnings ratio of 16.20, the valuation of ORDI can be described as correct.
The rest of the industry has a similar Price/Forward Earnings ratio as ORDI.
The average S&P500 Price/Forward Earnings ratio is at 22.86. ORDI is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 23.75
Fwd PE 16.2
ORDI.AS Price Earnings VS Forward Price EarningsORDI.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 ORDI is on the same level as its industry peers.
ORDI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 19.85
EV/EBITDA 11.21
ORDI.AS Per share dataORDI.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ORDI does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of ORDI may justify a higher PE ratio.
PEG (NY)2.48
PEG (5Y)0.47
EPS Next 2Y9.54%
EPS Next 3Y9.74%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.65%, ORDI is a good candidate for dividend investing.
ORDI's Dividend Yield is rather good when compared to the industry average which is at 7.60. ORDI pays more dividend than 89.74% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, ORDI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.65%

5.2 History

On average, the dividend of ORDI grows each year by 51.72%, which is quite nice.
Dividend Growth(5Y)51.72%
Div Incr Years1
Div Non Decr Years1
ORDI.AS Yearly Dividends per shareORDI.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

ORDI pays out 160.95% of its income as dividend. This is not a sustainable payout ratio.
ORDI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP160.95%
EPS Next 2Y9.54%
EPS Next 3Y9.74%
ORDI.AS Yearly Income VS Free CF VS DividendORDI.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 0 10M 20M 30M 40M
ORDI.AS Dividend Payout.ORDI.AS Dividend Payout, showing the Payout Ratio.ORDI.AS Dividend Payout.PayoutRetained Earnings

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Ordina NV

AMS:ORDI (11/14/2023, 7:00:00 PM)

5.7

+0.02 (+0.35%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap513.09M
Analysts82.86
Price Target5.71 (0.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.65%
Yearly Dividend0.16
Dividend Growth(5Y)51.72%
DP160.95%
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)3.7%
PT rev (3m)3.7%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)2.72%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.07%
Valuation
Industry RankSector Rank
PE 23.75
Fwd PE 16.2
P/S 1.16
P/FCF 19.85
P/OCF 18.09
P/B 3.5
P/tB 32.17
EV/EBITDA 11.21
EPS(TTM)0.24
EY4.21%
EPS(NY)0.35
Fwd EY6.17%
FCF(TTM)0.29
FCFY5.04%
OCF(TTM)0.32
OCFY5.53%
SpS4.92
BVpS1.63
TBVpS0.18
PEG (NY)2.48
PEG (5Y)0.47
Profitability
Industry RankSector Rank
ROA 8.03%
ROE 15.07%
ROCE 19.55%
ROIC 13.03%
ROICexc 13.52%
ROICexgc 56.7%
OM 7.4%
PM (TTM) 4.99%
GM 72.01%
FCFM 5.84%
ROA(3y)8.13%
ROA(5y)6.53%
ROE(3y)13.4%
ROE(5y)10.76%
ROIC(3y)12.32%
ROIC(5y)10.57%
ROICexc(3y)15.52%
ROICexc(5y)12.95%
ROICexgc(3y)87.79%
ROICexgc(5y)108.6%
ROCE(3y)17.39%
ROCE(5y)14.92%
ROICexcg growth 3Y38.69%
ROICexcg growth 5Y-6.83%
ROICexc growth 3Y21.73%
ROICexc growth 5Y20.38%
OM growth 3Y12.91%
OM growth 5Y17.76%
PM growth 3Y11.67%
PM growth 5Y43.68%
GM growth 3Y0.15%
GM growth 5Y-0.02%
F-Score6
Asset Turnover1.61
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 1.61
Debt/EBITDA 0.63
Cap/Depr 16.57%
Cap/Sales 0.57%
Interest Coverage 35.29
Cash Conversion 59.14%
Profit Quality 116.97%
Current Ratio 0.94
Quick Ratio 0.94
Altman-Z 4.44
F-Score6
WACC7.36%
ROIC/WACC1.77
Cap/Depr(3y)25.85%
Cap/Depr(5y)33.08%
Cap/Sales(3y)0.96%
Cap/Sales(5y)0.88%
Profit Quality(3y)165.01%
Profit Quality(5y)156.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-15.55%
EPS 3Y17.39%
EPS 5Y50.58%
EPS Q2Q%-10.59%
EPS Next Y9.57%
EPS Next 2Y9.54%
EPS Next 3Y9.74%
EPS Next 5YN/A
Revenue 1Y (TTM)6.73%
Revenue growth 3Y4.88%
Revenue growth 5Y4.66%
Sales Q2Q%6.18%
Revenue Next Year7.42%
Revenue Next 2Y6.73%
Revenue Next 3Y6.35%
Revenue Next 5YN/A
EBIT growth 1Y-15.73%
EBIT growth 3Y18.41%
EBIT growth 5Y23.24%
EBIT Next Year48%
EBIT Next 3Y19.5%
EBIT Next 5YN/A
FCF growth 1Y-35.25%
FCF growth 3Y20.34%
FCF growth 5Y28.47%
OCF growth 1Y-35.66%
OCF growth 3Y19.61%
OCF growth 5Y24.11%