SPADEL SA (SPA.BR) Stock Fundamental Analysis

Europe • Euronext Brussels • EBR:SPA • BE0003798155

254 EUR
-18 (-6.62%)
Last: Feb 10, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SPA. SPA was compared to 31 industry peers in the Beverages industry. SPA has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. SPA is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year SPA was profitable.
  • In the past year SPA had a positive cash flow from operations.
  • SPA had positive earnings in each of the past 5 years.
  • Each year in the past 5 years SPA had a positive operating cash flow.
SPA.BR Yearly Net Income VS EBIT VS OCF VS FCFSPA.BR 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 20M 40M 60M

1.2 Ratios

  • SPA has a Return On Assets of 8.70%. This is amongst the best in the industry. SPA outperforms 93.55% of its industry peers.
  • SPA has a better Return On Equity (13.47%) than 70.97% of its industry peers.
  • SPA's Return On Invested Capital of 11.79% is amongst the best of the industry. SPA outperforms 80.65% of its industry peers.
  • SPA had an Average Return On Invested Capital over the past 3 years of 8.57%. This is in line with the industry average of 8.06%.
  • The last Return On Invested Capital (11.79%) for SPA is above the 3 year average (8.57%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 8.7%
ROE 13.47%
ROIC 11.79%
ROA(3y)6.19%
ROA(5y)6.45%
ROE(3y)9.43%
ROE(5y)10.16%
ROIC(3y)8.57%
ROIC(5y)9.02%
SPA.BR Yearly ROA, ROE, ROICSPA.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 10.90%, SPA is in the better half of the industry, outperforming 64.52% of the companies in the same industry.
  • In the last couple of years the Profit Margin of SPA has grown nicely.
  • The Operating Margin of SPA (13.14%) is worse than 64.52% of its industry peers.
  • In the last couple of years the Operating Margin of SPA has grown nicely.
  • With a Gross Margin value of 39.57%, SPA is not doing good in the industry: 67.74% of the companies in the same industry are doing better.
  • SPA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.14%
PM (TTM) 10.9%
GM 39.57%
OM growth 3Y-0.5%
OM growth 5Y1.58%
PM growth 3Y4.62%
PM growth 5Y3.65%
GM growth 3Y1.4%
GM growth 5Y1.36%
SPA.BR Yearly Profit, Operating, Gross MarginsSPA.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPA is creating some value.
  • SPA has about the same amout of shares outstanding than it did 1 year ago.
  • SPA has about the same amout of shares outstanding than it did 5 years ago.
  • The debt/assets ratio for SPA is higher compared to a year ago.
SPA.BR Yearly Shares OutstandingSPA.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M 4M
SPA.BR Yearly Total Debt VS Total AssetsSPA.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

  • SPA has an Altman-Z score of 5.89. This indicates that SPA is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of SPA (5.89) is better than 100.00% of its industry peers.
  • The Debt to FCF ratio of SPA is 0.13, which is an excellent value as it means it would take SPA, only 0.13 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.13, SPA belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • SPA has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
  • With an excellent Debt to Equity ratio value of 0.01, SPA belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.13
Altman-Z 5.89
ROIC/WACC1.48
WACC7.98%
SPA.BR Yearly LT Debt VS Equity VS FCFSPA.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.3 Liquidity

  • A Current Ratio of 1.88 indicates that SPA should not have too much problems paying its short term obligations.
  • SPA has a better Current ratio (1.88) than 74.19% of its industry peers.
  • A Quick Ratio of 1.70 indicates that SPA should not have too much problems paying its short term obligations.
  • SPA has a Quick ratio of 1.70. This is amongst the best in the industry. SPA outperforms 96.77% of its industry peers.
Industry RankSector Rank
Current Ratio 1.88
Quick Ratio 1.7
SPA.BR Yearly Current Assets VS Current LiabilitesSPA.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 26.61% over the past year.
  • The Earnings Per Share has been growing by 8.75% on average over the past years. This is quite good.
  • SPA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.40%.
  • The Revenue has been growing slightly by 4.92% on average over the past years.
EPS 1Y (TTM)26.61%
EPS 3Y15.47%
EPS 5Y8.75%
EPS Q2Q%10.68%
Revenue 1Y (TTM)11.4%
Revenue growth 3Y10.37%
Revenue growth 5Y4.92%
Sales Q2Q%10.81%

3.2 Future

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
SPA.BR Yearly Revenue VS EstimatesSPA.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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Find the best growth stocksShow best growing peers

1

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 24.17, SPA is valued on the expensive side.
  • The rest of the industry has a similar Price/Earnings ratio as SPA.
  • The average S&P500 Price/Earnings ratio is at 28.23. SPA is around the same levels.
Industry RankSector Rank
PE 24.17
Fwd PE N/A
SPA.BR Price Earnings VS Forward Price EarningsSPA.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

  • SPA's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of SPA indicates a slightly more expensive valuation: SPA is more expensive than 67.74% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 26.54
EV/EBITDA 12.17
SPA.BR Per share dataSPA.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The decent profitability rating of SPA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.76
EPS Next 2YN/A
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. Dividend

5.1 Amount

  • SPA has a yearly dividend return of 0.81%, which is pretty low.
  • With a Dividend Yield of 0.81, SPA pays less dividend than the industry average, which is at 2.55. 80.65% of the companies listed in the same industry pay a better dividend than SPA!
  • Compared to an average S&P500 Dividend Yield of 1.79, SPA's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.81%

5.2 History

  • The dividend of SPA has a limited annual growth rate of 1.92%.
Dividend Growth(5Y)1.92%
Div Incr Years2
Div Non Decr Years2
SPA.BR Yearly Dividends per shareSPA.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • SPA pays out 30.45% of its income as dividend. This is a sustainable payout ratio.
  • SPA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP30.45%
EPS Next 2YN/A
EPS Next 3YN/A
SPA.BR Yearly Income VS Free CF VS DividendSPA.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
SPA.BR Dividend Payout.SPA.BR Dividend Payout, showing the Payout Ratio.SPA.BR Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

SPADEL SA

EBR:SPA (2/10/2026, 7:00:00 PM)

254

-18 (-6.62%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)09-01
Earnings (Next)N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins Owners97.59%
Ins Owner ChangeN/A
Market Cap1.05B
Revenue(TTM)399.96M
Net Income(TTM)43.62M
AnalystsN/A
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.81%
Yearly Dividend2.2
Dividend Growth(5Y)1.92%
DP30.45%
Div Incr Years2
Div Non Decr Years2
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)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 24.17
Fwd PE N/A
P/S 2.64
P/FCF 26.54
P/OCF 15.37
P/B 3.25
P/tB 4.94
EV/EBITDA 12.17
EPS(TTM)10.51
EY4.14%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)9.57
FCFY3.77%
OCF(TTM)16.53
OCFY6.51%
SpS96.38
BVpS78.04
TBVpS51.43
PEG (NY)N/A
PEG (5Y)2.76
Graham Number135.85
Profitability
Industry RankSector Rank
ROA 8.7%
ROE 13.47%
ROCE 14.63%
ROIC 11.79%
ROICexc 19.37%
ROICexgc 39.13%
OM 13.14%
PM (TTM) 10.9%
GM 39.57%
FCFM 9.93%
ROA(3y)6.19%
ROA(5y)6.45%
ROE(3y)9.43%
ROE(5y)10.16%
ROIC(3y)8.57%
ROIC(5y)9.02%
ROICexc(3y)13.94%
ROICexc(5y)13.81%
ROICexgc(3y)32.94%
ROICexgc(5y)32.52%
ROCE(3y)10.63%
ROCE(5y)11.39%
ROICexgc growth 3Y14.92%
ROICexgc growth 5Y8.53%
ROICexc growth 3Y13.66%
ROICexc growth 5Y8.37%
OM growth 3Y-0.5%
OM growth 5Y1.58%
PM growth 3Y4.62%
PM growth 5Y3.65%
GM growth 3Y1.4%
GM growth 5Y1.36%
F-Score8
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.13
Debt/EBITDA 0.04
Cap/Depr 125.99%
Cap/Sales 7.22%
Interest Coverage 73.39
Cash Conversion 90.89%
Profit Quality 91.05%
Current Ratio 1.88
Quick Ratio 1.7
Altman-Z 5.89
F-Score8
WACC7.98%
ROIC/WACC1.48
Cap/Depr(3y)93.53%
Cap/Depr(5y)93.22%
Cap/Sales(3y)5.83%
Cap/Sales(5y)6.29%
Profit Quality(3y)136.29%
Profit Quality(5y)124.06%
High Growth Momentum
Growth
EPS 1Y (TTM)26.61%
EPS 3Y15.47%
EPS 5Y8.75%
EPS Q2Q%10.68%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.4%
Revenue growth 3Y10.37%
Revenue growth 5Y4.92%
Sales Q2Q%10.81%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y29.43%
EBIT growth 3Y9.82%
EBIT growth 5Y6.57%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y98.09%
FCF growth 3Y16.51%
FCF growth 5Y18.57%
OCF growth 1Y85.3%
OCF growth 3Y13.89%
OCF growth 5Y11.4%

SPADEL SA / SPA.BR FAQ

What is the ChartMill fundamental rating of SPADEL SA (SPA.BR) stock?

ChartMill assigns a fundamental rating of 5 / 10 to SPA.BR.


What is the valuation status of SPADEL SA (SPA.BR) stock?

ChartMill assigns a valuation rating of 1 / 10 to SPADEL SA (SPA.BR). This can be considered as Overvalued.


Can you provide the profitability details for SPADEL SA?

SPADEL SA (SPA.BR) has a profitability rating of 7 / 10.


How financially healthy is SPADEL SA?

The financial health rating of SPADEL SA (SPA.BR) is 7 / 10.


How sustainable is the dividend of SPADEL SA (SPA.BR) stock?

The dividend rating of SPADEL SA (SPA.BR) is 3 / 10 and the dividend payout ratio is 30.45%.