VASTNED NV (VASTB.BR) Stock Fundamental Analysis
EBR:VASTB - Euronext Brussels - BE0003754687 - REIT - Currency: EUR
Taking everything into account, VASTB scores 5 out of 10 in our fundamental rating. VASTB was compared to 42 industry peers in the Diversified REITs industry. Both the profitability and the financial health of VASTB get a neutral evaluation. Nothing too spectacular is happening here. VASTB does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
VASTB had positive earnings in the past year.
In the past year VASTB had a positive cash flow from operations.
Of the past 5 years VASTB 4 years were profitable.
In the past 5 years VASTB always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.24%, VASTB is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
VASTB's Return On Equity of 4.86% is in line compared to the rest of the industry. VASTB outperforms 54.76% of its industry peers.
With a Return On Invested Capital value of 3.54%, VASTB perfoms like the industry average, outperforming 59.52% of the companies in the same industry.
VASTB had an Average Return On Invested Capital over the past 3 years of 3.71%. This is in line with the industry average of 3.60%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 4.86% | ||
| ROIC | 3.54% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.71%
ROIC(5y)3.57%
1.3 Margins
VASTB has a better Profit Margin (58.39%) than 69.05% of its industry peers.
VASTB's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 83.64%, VASTB belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
VASTB's Operating Margin has been stable in the last couple of years.
VASTB has a better Gross Margin (92.60%) than 83.33% of its industry peers.
In the last couple of years the Gross Margin of VASTB has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 83.64% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% |
OM growth 3Y-0.84%
OM growth 5Y-0.56%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VASTB is destroying value.
Compared to 1 year ago, VASTB has about the same amount of shares outstanding.
The number of shares outstanding for VASTB remains at a similar level compared to 5 years ago.
Compared to 1 year ago, VASTB has a worse debt to assets ratio.
2.2 Solvency
VASTB has an Altman-Z score of 3.86. This indicates that VASTB is financially healthy and has little risk of bankruptcy at the moment.
VASTB's Altman-Z score of 3.86 is amongst the best of the industry. VASTB outperforms 100.00% of its industry peers.
VASTB has a debt to FCF ratio of 10.98. This is a negative value and a sign of low solvency as VASTB would need 10.98 years to pay back of all of its debts.
VASTB's Debt to FCF ratio of 10.98 is fine compared to the rest of the industry. VASTB outperforms 61.90% of its industry peers.
VASTB has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.
VASTB has a better Debt to Equity ratio (0.46) than 92.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 10.98 | ||
| Altman-Z | 3.86 |
ROIC/WACC0.51
WACC7.01%
2.3 Liquidity
A Current Ratio of 0.99 indicates that VASTB may have some problems paying its short term obligations.
VASTB's Current ratio of 0.99 is fine compared to the rest of the industry. VASTB outperforms 73.81% of its industry peers.
VASTB has a Quick Ratio of 0.99. This is a bad value and indicates that VASTB is not financially healthy enough and could expect problems in meeting its short term obligations.
VASTB has a better Quick ratio (0.99) than 78.57% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.99 |
3. Growth
3.1 Past
VASTB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.65%.
Measured over the past years, VASTB shows a quite strong growth in Earnings Per Share. The EPS has been growing by 19.77% on average per year.
Looking at the last year, VASTB shows a decrease in Revenue. The Revenue has decreased by -1.52% in the last year.
The Revenue has been decreasing by -1.05% on average over the past years.
EPS 1Y (TTM)-5.65%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.45%
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%-0.89%
3.2 Future
The Earnings Per Share is expected to grow by 4.75% on average over the next years.
Based on estimates for the next years, VASTB will show a small growth in Revenue. The Revenue will grow by 2.33% on average per year.
EPS Next Y1.62%
EPS Next 2Y4.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.17%
Revenue Next 2Y2.72%
Revenue Next 3Y2.33%
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.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 14.10, VASTB is valued correctly.
VASTB's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of VASTB to the average of the S&P500 Index (26.48), we can say VASTB is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 15.29, the valuation of VASTB can be described as correct.
Based on the Price/Forward Earnings ratio, VASTB is valued a bit more expensive than 69.05% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 34.04. VASTB is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.1 | ||
| Fwd PE | 15.29 |
4.2 Price Multiples
73.81% of the companies in the same industry are cheaper than VASTB, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VASTB indicates a rather expensive valuation: VASTB more expensive than 80.95% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 62.39 | ||
| EV/EBITDA | 43.49 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VASTB does not grow enough to justify the current Price/Earnings ratio.
VASTB has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)8.69
PEG (5Y)0.71
EPS Next 2Y4.75%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 7.78%, VASTB is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.36, VASTB pays a better dividend. On top of this VASTB pays more dividend than 92.86% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.39, VASTB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.78% |
5.2 History
The dividend of VASTB is nicely growing with an annual growth rate of 10.30%!
Dividend Growth(5Y)10.3%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
VASTB pays out 222.06% of its income as dividend. This is not a sustainable payout ratio.
The dividend of VASTB is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP222.06%
EPS Next 2Y4.75%
EPS Next 3YN/A
EBR:VASTB (8/8/2025, 7:00:00 PM)
29.6
-0.1 (-0.34%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners6.38%
Inst Owner ChangeN/A
Ins Owners39.23%
Ins Owner ChangeN/A
Market Cap576.31M
Analysts40
Price Target30.94 (4.53%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.78% |
Yearly Dividend4.65
Dividend Growth(5Y)10.3%
DP222.06%
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)2.82%
PT rev (3m)12.35%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)9.19%
Revenue NY rev (3m)9.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.1 | ||
| Fwd PE | 15.29 | ||
| P/S | 31.62 | ||
| P/FCF | 62.39 | ||
| P/OCF | 59.46 | ||
| P/B | 2.63 | ||
| P/tB | 2.63 | ||
| EV/EBITDA | 43.49 |
EPS(TTM)2.1
EY7.09%
EPS(NY)1.94
Fwd EY6.54%
FCF(TTM)0.47
FCFY1.6%
OCF(TTM)0.5
OCFY1.68%
SpS0.94
BVpS11.26
TBVpS11.26
PEG (NY)8.69
PEG (5Y)0.71
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 4.86% | ||
| ROCE | 4.72% | ||
| ROIC | 3.54% | ||
| ROICexc | 3.55% | ||
| ROICexgc | 3.55% | ||
| OM | 83.64% | ||
| PM (TTM) | 58.39% | ||
| GM | 92.6% | ||
| FCFM | 50.68% |
ROA(3y)3.79%
ROA(5y)2.02%
ROE(3y)5.32%
ROE(5y)2.83%
ROIC(3y)3.71%
ROIC(5y)3.57%
ROICexc(3y)3.72%
ROICexc(5y)3.57%
ROICexgc(3y)3.72%
ROICexgc(5y)3.57%
ROCE(3y)4.95%
ROCE(5y)4.75%
ROICexcg growth 3Y0.47%
ROICexcg growth 5Y0.25%
ROICexc growth 3Y0.48%
ROICexc growth 5Y0.26%
OM growth 3Y-0.84%
OM growth 5Y-0.56%
PM growth 3Y34.39%
PM growth 5Y21.05%
GM growth 3Y-0.57%
GM growth 5Y-0.47%
F-Score2
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 10.98 | ||
| Debt/EBITDA | 6.5 | ||
| Cap/Depr | 138.3% | ||
| Cap/Sales | 2.5% | ||
| Interest Coverage | 5.36 | ||
| Cash Conversion | 62.23% | ||
| Profit Quality | 86.8% | ||
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.99 | ||
| Altman-Z | 3.86 |
F-Score2
WACC7.01%
ROIC/WACC0.51
Cap/Depr(3y)70.59%
Cap/Depr(5y)46.65%
Cap/Sales(3y)1.07%
Cap/Sales(5y)0.74%
Profit Quality(3y)101.93%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.65%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.45%
EPS Next Y1.62%
EPS Next 2Y4.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%-0.89%
Revenue Next Year3.17%
Revenue Next 2Y2.72%
Revenue Next 3Y2.33%
Revenue Next 5YN/A
EBIT growth 1Y-5.55%
EBIT growth 3Y1.47%
EBIT growth 5Y-1.61%
EBIT Next Year14.86%
EBIT Next 3Y10.49%
EBIT Next 5YN/A
FCF growth 1Y-36.08%
FCF growth 3Y-13.18%
FCF growth 5Y-7.5%
OCF growth 1Y-33.48%
OCF growth 3Y-11.87%
OCF growth 5Y-6.94%