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Ordina NV (ORDI.AS) Stock Fundamental Analysis

AMS:ORDI - Euronext Amsterdam - NL0000440584 - Common Stock - Currency: EUR

5.7  +0.02 (+0.35%)

Fundamental Rating

5

Taking everything into account, ORDI scores 5 out of 10 in our fundamental rating. ORDI was compared to 69 industry peers in the IT Services industry. While ORDI belongs to the best of the industry regarding profitability, 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

In the past year ORDI was profitable.
ORDI had a positive operating cash flow in the past year.
In the past 5 years ORDI has always been profitable.
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

With an excellent Return On Assets value of 8.03%, ORDI belongs to the best of the industry, outperforming 80.77% of the companies in the same industry.
With a decent Return On Equity value of 15.07%, ORDI is doing good in the industry, outperforming 61.54% of the companies in the same industry.
With a decent Return On Invested Capital value of 13.03%, ORDI is doing good in the industry, outperforming 79.49% of the companies in the same industry.
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 10.77%.
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

ORDI's Profit Margin of 4.99% is fine compared to the rest of the industry. ORDI outperforms 60.26% of its industry peers.
In the last couple of years the Profit Margin of ORDI has grown nicely.
With a Operating Margin value of 7.40%, ORDI perfoms like the industry average, outperforming 55.13% of the companies in the same industry.
In the last couple of years the Operating Margin of ORDI has grown nicely.
ORDI has a Gross Margin of 72.01%. This is in the better half of the industry: ORDI outperforms 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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ORDI is still creating some value.
The number of shares outstanding for ORDI has been reduced compared to 1 year ago.
ORDI has a better debt/assets ratio than last year.
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

An Altman-Z score of 4.44 indicates that ORDI is not in any danger for bankruptcy at the moment.
The Altman-Z score of ORDI (4.44) is better than 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.
The Debt to FCF ratio of ORDI (1.61) is better than 80.77% of its industry peers.
ORDI has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
ORDI has a Debt to Equity ratio of 0.21. This is in the better half of the industry: ORDI outperforms 65.38% of its industry peers.
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.
The Current ratio of ORDI (0.94) is worse 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

The earnings per share for ORDI have decreased strongly by -15.55% in the last year.
The Earnings Per Share has been growing by 50.58% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 6.73% in the past year.
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

The Earnings Per Share is expected to grow by 9.74% on average over the next years. This is quite good.
The Revenue is expected to grow by 6.35% on average over the next years.
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.
ORDI's Price/Earnings ratio is in line with the industry average.
ORDI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 24.21.
ORDI is valuated correctly with a Price/Forward Earnings ratio of 16.20.
ORDI's Price/Forward Earnings is on the same level as the industry average.
ORDI's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 20.44.
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 an expensive valuation of the company.
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

ORDI has a Yearly Dividend Yield of 4.65%, which is a nice return.
Compared to an average industry Dividend Yield of 7.40, ORDI pays a better dividend. On top of this ORDI pays more dividend than 89.74% of the companies listed in the same industry.
ORDI's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 4.65%

5.2 History

The dividend of ORDI is nicely growing with an annual growth rate of 51.72%!
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.
The dividend of ORDI is growing, but the earnings are growing slower. 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 SectorInformation Technology
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%