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VASTNED NV (VASTB.BR) Stock Fundamental Analysis

EBR:VASTB - Euronext Brussels - BE0003754687 - REIT - Currency: EUR

31.4  0 (0%)

Fundamental Rating

4

Overall VASTB gets a fundamental rating of 4 out of 10. We evaluated VASTB against 41 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 has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

VASTB had positive earnings in the past year.
VASTB had positive earnings in 4 of the past 5 years.
VASTB had a positive operating cash flow in 4 of the past 5 years.
VASTB.BR Yearly Net Income VS EBIT VS OCF VS FCFVASTB.BR 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 2023 2024 0 10M 20M 30M

1.2 Ratios

The Return On Assets of VASTB (3.24%) is better than 70.73% of its industry peers.
VASTB has a Return On Equity (4.86%) which is in line with its industry peers.
VASTB has a Return On Invested Capital (3.54%) which is comparable to the rest of the 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 3.55%.
Industry RankSector 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%
VASTB.BR Yearly ROA, ROE, ROICVASTB.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

The Profit Margin of VASTB (58.39%) is better than 65.85% of its industry peers.
VASTB's Profit Margin has improved in the last couple of years.
VASTB has a better Operating Margin (83.64%) than 82.93% of its industry peers.
In the last couple of years the Operating Margin of VASTB has remained more or less at the same level.
VASTB has a better Gross Margin (92.60%) than 82.93% 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 RankSector 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%
VASTB.BR Yearly Profit, Operating, Gross MarginsVASTB.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 150

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VASTB is destroying value.
VASTB has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for VASTB remains at a similar level compared to 5 years ago.
VASTB has a worse debt/assets ratio than last year.
VASTB.BR Yearly Shares OutstandingVASTB.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M 4M 5M
VASTB.BR Yearly Total Debt VS Total AssetsVASTB.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

An Altman-Z score of 4.06 indicates that VASTB is not in any danger for bankruptcy at the moment.
VASTB has a better Altman-Z score (4.06) than 100.00% 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's Debt to Equity ratio of 0.46 is amongst the best of the industry. VASTB outperforms 92.68% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF N/A
Altman-Z 4.06
ROIC/WACC0.5
WACC7.07%
VASTB.BR Yearly LT Debt VS Equity VS FCFVASTB.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.3 Liquidity

A Current Ratio of 0.99 indicates that VASTB may have some problems paying its short term obligations.
VASTB has a better Current ratio (0.99) than 70.73% 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 Quick ratio of 0.99. This is in the better half of the industry: VASTB outperforms 73.17% of its industry peers.
Industry RankSector Rank
Current Ratio 0.99
Quick Ratio 0.99
VASTB.BR Yearly Current Assets VS Current LiabilitesVASTB.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M

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1

3. Growth

3.1 Past

VASTB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.66%.
VASTB shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.77% yearly.
VASTB shows a decrease in Revenue. In the last year, the revenue decreased by -1.52%.
VASTB shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.05% yearly.
EPS 1Y (TTM)-5.66%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.5%
Revenue 1Y (TTM)-1.52%
Revenue growth 3Y2.33%
Revenue growth 5Y-1.05%
Sales Q2Q%-0.89%

3.2 Future

Based on estimates for the next years, VASTB will show a small growth in Earnings Per Share. The EPS will grow by 4.75% on average per year.
The Revenue is expected to decrease by -1.76% on average over the next years.
EPS Next Y1.62%
EPS Next 2Y4.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-5.51%
Revenue Next 2Y-1.76%
Revenue Next 3YN/A
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 decreasing: in the next years the growth will be less than in the last years.
VASTB.BR Yearly Revenue VS EstimatesVASTB.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M
VASTB.BR Yearly EPS VS EstimatesVASTB.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2024 2025 2026 0.5 1 1.5 2 2.5

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2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 14.95, VASTB is valued correctly.
VASTB's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 26.43, VASTB is valued a bit cheaper.
The Price/Forward Earnings ratio is 16.22, which indicates a correct valuation of VASTB.
VASTB's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. VASTB is more expensive than 70.73% of the companies in the same industry.
VASTB's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.17.
Industry RankSector Rank
PE 14.95
Fwd PE 16.22
VASTB.BR Price Earnings VS Forward Price EarningsVASTB.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
VASTB.BR Per share dataVASTB.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

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 VASTB may justify a higher PE ratio.
PEG (NY)9.22
PEG (5Y)0.76
EPS Next 2Y4.75%
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.38%, VASTB is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.44, VASTB pays a better dividend. On top of this VASTB pays more dividend than 97.56% of the companies listed in the same industry.
VASTB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
Industry RankSector Rank
Dividend Yield 7.38%

5.2 History

The dividend of VASTB decreases each year by -3.00%.
Dividend Growth(5Y)-3%
Div Incr Years2
Div Non Decr Years2
VASTB.BR Yearly Dividends per shareVASTB.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 1 2 3 4 5

5.3 Sustainability

DP0%
EPS Next 2Y4.75%
EPS Next 3YN/A
VASTB.BR Yearly Income VS Free CF VS DividendVASTB.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M 20M 30M

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VASTNED NV

EBR:VASTB (6/4/2025, 7:00:00 PM)

31.4

0 (0%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)10-21 2024-10-21
Earnings (Next)N/A N/A
Inst Owners4.5%
Inst Owner ChangeN/A
Ins Owners37.4%
Ins Owner ChangeN/A
Market Cap611.36M
Analysts40
Price Target27.54 (-12.29%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.38%
Yearly Dividend2.25
Dividend Growth(5Y)-3%
DP0%
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)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 14.95
Fwd PE 16.22
P/S 33.54
P/FCF N/A
P/OCF N/A
P/B 2.79
P/tB 2.79
EV/EBITDA N/A
EPS(TTM)2.1
EY6.69%
EPS(NY)1.94
Fwd EY6.17%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS0.94
BVpS11.26
TBVpS11.26
PEG (NY)9.22
PEG (5Y)0.76
Profitability
Industry RankSector 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 N/A
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-ScoreN/A
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.99
Quick Ratio 0.99
Altman-Z 4.06
F-ScoreN/A
WACC7.07%
ROIC/WACC0.5
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.66%
EPS 3Y37.52%
EPS 5Y19.77%
EPS Q2Q%-77.5%
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 Year-5.51%
Revenue Next 2Y-1.76%
Revenue Next 3YN/A
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 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A