WAREHOUSES ESTATES BELGIUM (WEB.BR) Stock Fundamental Analysis
Europe - Euronext Brussels - EBR:WEB - BE0003734481 - REIT
40 EUR
0 (0%)
Taking everything into account, WEB scores 4 out of 10 in our fundamental rating. WEB was compared to 42 industry peers in the Diversified REITs industry. While WEB belongs to the best of the industry regarding profitability, there are concerns on its financial health. WEB is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- WEB had positive earnings in the past year.
- In the past year WEB had a positive cash flow from operations.
- WEB had positive earnings in each of the past 5 years.
- Each year in the past 5 years WEB had a positive operating cash flow.
1.2 Ratios
- WEB's Return On Assets of 3.22% is fine compared to the rest of the industry. WEB outperforms 66.67% of its industry peers.
- Looking at the Return On Equity, with a value of 6.36%, WEB is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
- The Return On Invested Capital of WEB (4.70%) is better than 85.71% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for WEB is in line with the industry average of 3.45%.
- The last Return On Invested Capital (4.70%) for WEB is above the 3 year average (4.53%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.22% | ||
| ROE | 6.36% | ||
| ROIC | 4.7% |
ROA(3y)3.25%
ROA(5y)3.53%
ROE(3y)6.07%
ROE(5y)6.63%
ROIC(3y)4.53%
ROIC(5y)4.35%
1.3 Margins
- WEB has a Profit Margin (44.23%) which is comparable to the rest of the industry.
- WEB's Profit Margin has declined in the last couple of years.
- The Operating Margin of WEB (79.69%) is better than 76.19% of its industry peers.
- WEB's Operating Margin has been stable in the last couple of years.
- With an excellent Gross Margin value of 97.60%, WEB belongs to the best of the industry, outperforming 95.24% of the companies in the same industry.
- In the last couple of years the Gross Margin of WEB has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 79.69% | ||
| PM (TTM) | 44.23% | ||
| GM | 97.6% |
OM growth 3Y-2.45%
OM growth 5Y-0.08%
PM growth 3Y-17.16%
PM growth 5Y-4.35%
GM growth 3Y0.85%
GM growth 5Y0.33%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so WEB is destroying value.
- Compared to 1 year ago, WEB has more shares outstanding
- Compared to 5 years ago, WEB has more shares outstanding
- The debt/assets ratio for WEB has been reduced compared to a year ago.
2.2 Solvency
- WEB has an Altman-Z score of 0.84. This is a bad value and indicates that WEB is not financially healthy and even has some risk of bankruptcy.
- WEB has a Altman-Z score (0.84) which is in line with its industry peers.
- The Debt to FCF ratio of WEB is 11.77, which is on the high side as it means it would take WEB, 11.77 years of fcf income to pay off all of its debts.
- WEB has a Debt to FCF ratio (11.77) which is in line with its industry peers.
- WEB has a Debt/Equity ratio of 0.82. This is a neutral value indicating WEB is somewhat dependend on debt financing.
- Looking at the Debt to Equity ratio, with a value of 0.82, WEB is doing worse than 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 11.77 | ||
| Altman-Z | 0.84 |
ROIC/WACC0.9
WACC5.23%
2.3 Liquidity
- WEB has a Current Ratio of 0.33. This is a bad value and indicates that WEB is not financially healthy enough and could expect problems in meeting its short term obligations.
- WEB has a Current ratio of 0.33. This is comparable to the rest of the industry: WEB outperforms 40.48% of its industry peers.
- WEB has a Quick Ratio of 0.33. This is a bad value and indicates that WEB is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Quick ratio, with a value of 0.33, WEB is in line with its industry, outperforming 45.24% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.33 | ||
| Quick Ratio | 0.33 |
3. Growth
3.1 Past
- WEB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 57.18%, which is quite impressive.
- The Earnings Per Share has been decreasing by -0.07% on average over the past years.
- Looking at the last year, WEB shows a small growth in Revenue. The Revenue has grown by 4.55% in the last year.
- The Revenue has been growing slightly by 5.96% on average over the past years.
EPS 1Y (TTM)57.18%
EPS 3Y-10.85%
EPS 5Y-0.07%
EPS Q2Q%3.01%
Revenue 1Y (TTM)4.55%
Revenue growth 3Y10.18%
Revenue growth 5Y5.96%
Sales Q2Q%2.62%
3.2 Future
- Based on estimates for the next years, WEB will show a decrease in Earnings Per Share. The EPS will decrease by -2.53% on average per year.
- The Revenue is expected to grow by 1.01% on average over the next years.
EPS Next Y-5.1%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EPS Next 5YN/A
Revenue Next Year3.4%
Revenue Next 2Y2.47%
Revenue Next 3Y2.15%
Revenue Next 5Y1.01%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- WEB is valuated correctly with a Price/Earnings ratio of 12.54.
- Compared to the rest of the industry, the Price/Earnings ratio of WEB is on the same level as its industry peers.
- WEB's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.38.
- The Price/Forward Earnings ratio is 11.12, which indicates a very decent valuation of WEB.
- The rest of the industry has a similar Price/Forward Earnings ratio as WEB.
- WEB is valuated cheaply when we compare the Price/Forward Earnings ratio to 24.29, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 11.12 |
4.2 Price Multiples
- WEB's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. WEB is cheaper than 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.09 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- WEB has a very decent profitability rating, which may justify a higher PE ratio.
- WEB's earnings are expected to decrease with -2.53% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
5. Dividend
5.1 Amount
- WEB has a Yearly Dividend Yield of 5.86%, which is a nice return.
- WEB's Dividend Yield is a higher than the industry average which is at 5.42.
- Compared to an average S&P500 Dividend Yield of 1.85, WEB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.86% |
5.2 History
- The dividend of WEB has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years2
Div Non Decr Years3
5.3 Sustainability
- WEB pays out 105.09% of its income as dividend. This is not a sustainable payout ratio.
- The Dividend Rate of WEB has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP105.09%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EBR:WEB (1/16/2026, 7:00:00 PM)
40
0 (0%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)09-26 2025-09-26
Earnings (Next)N/A N/A
Inst Owners2.94%
Inst Owner ChangeN/A
Ins Owners2.32%
Ins Owner ChangeN/A
Market Cap140.00M
Revenue(TTM)25.24M
Net Income(TTM)11.17M
Analysts47.5
Price Target40.8 (2%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.86% |
Yearly Dividend3.18
Dividend Growth(5Y)1.51%
DP105.09%
Div Incr Years2
Div Non Decr Years3
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)-1.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 11.12 | ||
| P/S | 5.55 | ||
| P/FCF | 10.09 | ||
| P/OCF | 7.74 | ||
| P/B | 0.8 | ||
| P/tB | 0.8 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.19
EY7.98%
EPS(NY)3.6
Fwd EY8.99%
FCF(TTM)3.96
FCFY9.91%
OCF(TTM)5.17
OCFY12.92%
SpS7.21
BVpS50.17
TBVpS50.17
PEG (NY)N/A
PEG (5Y)N/A
Graham Number60.01
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.22% | ||
| ROE | 6.36% | ||
| ROCE | 6.27% | ||
| ROIC | 4.7% | ||
| ROICexc | 4.71% | ||
| ROICexgc | 4.71% | ||
| OM | 79.69% | ||
| PM (TTM) | 44.23% | ||
| GM | 97.6% | ||
| FCFM | 54.96% |
ROA(3y)3.25%
ROA(5y)3.53%
ROE(3y)6.07%
ROE(5y)6.63%
ROIC(3y)4.53%
ROIC(5y)4.35%
ROICexc(3y)4.54%
ROICexc(5y)4.36%
ROICexgc(3y)4.54%
ROICexgc(5y)4.36%
ROCE(3y)6.04%
ROCE(5y)5.8%
ROICexgc growth 3Y1.91%
ROICexgc growth 5Y0.31%
ROICexc growth 3Y1.91%
ROICexc growth 5Y0.31%
OM growth 3Y-2.45%
OM growth 5Y-0.08%
PM growth 3Y-17.16%
PM growth 5Y-4.35%
GM growth 3Y0.85%
GM growth 5Y0.33%
F-Score5
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 11.77 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | 16.68% | ||
| Interest Coverage | 4.17 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 124.25% | ||
| Current Ratio | 0.33 | ||
| Quick Ratio | 0.33 | ||
| Altman-Z | 0.84 |
F-Score5
WACC5.23%
ROIC/WACC0.9
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)18.54%
Cap/Sales(5y)19.6%
Profit Quality(3y)119.43%
Profit Quality(5y)100.63%
High Growth Momentum
Growth
EPS 1Y (TTM)57.18%
EPS 3Y-10.85%
EPS 5Y-0.07%
EPS Q2Q%3.01%
EPS Next Y-5.1%
EPS Next 2Y-4.7%
EPS Next 3Y-2.53%
EPS Next 5YN/A
Revenue 1Y (TTM)4.55%
Revenue growth 3Y10.18%
Revenue growth 5Y5.96%
Sales Q2Q%2.62%
Revenue Next Year3.4%
Revenue Next 2Y2.47%
Revenue Next 3Y2.15%
Revenue Next 5Y1.01%
EBIT growth 1Y3.29%
EBIT growth 3Y7.48%
EBIT growth 5Y5.88%
EBIT Next Year12.43%
EBIT Next 3Y3.98%
EBIT Next 5YN/A
FCF growth 1Y19.35%
FCF growth 3Y7.44%
FCF growth 5Y103.09%
OCF growth 1Y13.02%
OCF growth 3Y7.75%
OCF growth 5Y13.41%
WAREHOUSES ESTATES BELGIUM / WEB.BR FAQ
What is the ChartMill fundamental rating of WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?
ChartMill assigns a fundamental rating of 4 / 10 to WEB.BR.
What is the valuation status of WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?
ChartMill assigns a valuation rating of 5 / 10 to WAREHOUSES ESTATES BELGIUM (WEB.BR). This can be considered as Fairly Valued.
What is the profitability of WEB stock?
WAREHOUSES ESTATES BELGIUM (WEB.BR) has a profitability rating of 7 / 10.
How financially healthy is WAREHOUSES ESTATES BELGIUM?
The financial health rating of WAREHOUSES ESTATES BELGIUM (WEB.BR) is 2 / 10.
What is the expected EPS growth for WAREHOUSES ESTATES BELGIUM (WEB.BR) stock?
The Earnings per Share (EPS) of WAREHOUSES ESTATES BELGIUM (WEB.BR) is expected to decline by -5.1% in the next year.