WERELDHAVE NV (WHA.AS) Stock Fundamental Analysis

AMS:WHA • NL0000289213

22.5 EUR
+0.1 (+0.45%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

Taking everything into account, WHA scores 4 out of 10 in our fundamental rating. WHA was compared to 41 industry peers in the Diversified REITs industry. There are concerns on the financial health of WHA while its profitability can be described as average. WHA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • WHA had positive earnings in the past year.
  • In the past year WHA had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: WHA reported negative net income in multiple years.
  • Each year in the past 5 years WHA had a positive operating cash flow.
WHA.AS Yearly Net Income VS EBIT VS OCF VS FCFWHA.AS 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 0 100M -100M -200M -300M

1.2 Ratios

  • WHA has a better Return On Assets (3.50%) than 70.73% of its industry peers.
  • The Return On Equity of WHA (8.40%) is better than 78.05% of its industry peers.
  • The Return On Invested Capital of WHA (4.30%) is better than 75.61% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for WHA is in line with the industry average of 3.45%.
  • The last Return On Invested Capital (4.30%) for WHA is above the 3 year average (3.94%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.5%
ROE 8.4%
ROIC 4.3%
ROA(3y)3.71%
ROA(5y)-1.36%
ROE(3y)8.68%
ROE(5y)-3.34%
ROIC(3y)3.94%
ROIC(5y)3.93%
WHA.AS Yearly ROA, ROE, ROICWHA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • The Profit Margin of WHA (43.57%) is comparable to the rest of the industry.
  • Looking at the Operating Margin, with a value of 64.70%, WHA is in line with its industry, outperforming 43.90% of the companies in the same industry.
  • In the last couple of years the Operating Margin of WHA has remained more or less at the same level.
  • The Gross Margin of WHA (71.57%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of WHA has remained more or less at the same level.
Industry RankSector Rank
OM 64.7%
PM (TTM) 43.57%
GM 71.57%
OM growth 3Y5.31%
OM growth 5Y0.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.3%
GM growth 5Y0.24%
WHA.AS Yearly Profit, Operating, Gross MarginsWHA.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), WHA is destroying value.
  • Compared to 1 year ago, WHA has about the same amount of shares outstanding.
  • The number of shares outstanding for WHA has been increased compared to 5 years ago.
  • WHA has a better debt/assets ratio than last year.
WHA.AS Yearly Shares OutstandingWHA.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
WHA.AS Yearly Total Debt VS Total AssetsWHA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • Based on the Altman-Z score of 0.14, we must say that WHA is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 0.14, WHA is not doing good in the industry: 95.12% of the companies in the same industry are doing better.
  • WHA has a debt to FCF ratio of 10.91. This is a negative value and a sign of low solvency as WHA would need 10.91 years to pay back of all of its debts.
  • WHA has a better Debt to FCF ratio (10.91) than 63.41% of its industry peers.
  • A Debt/Equity ratio of 0.90 indicates that WHA is somewhat dependend on debt financing.
  • The Debt to Equity ratio of WHA (0.90) is worse than 73.17% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF 10.91
Altman-Z 0.14
ROIC/WACC0.84
WACC5.1%
WHA.AS Yearly LT Debt VS Equity VS FCFWHA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 0.28 indicates that WHA may have some problems paying its short term obligations.
  • WHA has a worse Current ratio (0.28) than 68.29% of its industry peers.
  • WHA has a Quick Ratio of 0.28. This is a bad value and indicates that WHA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of WHA (0.28) is worse than 63.41% of its industry peers.
Industry RankSector Rank
Current Ratio 0.28
Quick Ratio 0.28
WHA.AS Yearly Current Assets VS Current LiabilitesWHA.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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

2

3. Growth

3.1 Past

  • The earnings per share for WHA have decreased strongly by -15.97% in the last year.
  • Looking at the last year, WHA shows a small growth in Revenue. The Revenue has grown by 7.35% in the last year.
  • The Revenue has been decreasing by -4.42% on average over the past years.
EPS 1Y (TTM)-15.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-39.52%
Revenue 1Y (TTM)7.35%
Revenue growth 3Y0.24%
Revenue growth 5Y-4.42%
Sales Q2Q%11.89%

3.2 Future

  • The Earnings Per Share is expected to grow by 3.88% on average over the next years.
  • The Revenue is expected to grow by 6.35% on average over the next years.
EPS Next Y2.69%
EPS Next 2Y3.52%
EPS Next 3Y3.88%
EPS Next 5YN/A
Revenue Next Year16.34%
Revenue Next 2Y8.8%
Revenue Next 3Y6.35%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
WHA.AS Yearly Revenue VS EstimatesWHA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M 200M 250M
WHA.AS Yearly EPS VS EstimatesWHA.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 11.31, the valuation of WHA can be described as reasonable.
  • Based on the Price/Earnings ratio, WHA is valued a bit cheaper than the industry average as 70.73% of the companies are valued more expensively.
  • WHA's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.99.
  • The Price/Forward Earnings ratio is 11.91, which indicates a very decent valuation of WHA.
  • WHA's Price/Forward Earnings ratio is in line with the industry average.
  • WHA is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.31
Fwd PE 11.91
WHA.AS Price Earnings VS Forward Price EarningsWHA.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 WHA indicates a somewhat cheap valuation: WHA is cheaper than 73.17% of the companies listed in the same industry.
  • WHA's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. WHA is cheaper than 70.73% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.51
EV/EBITDA 15.48
WHA.AS Per share dataWHA.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates WHA does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)4.2
PEG (5Y)N/A
EPS Next 2Y3.52%
EPS Next 3Y3.88%

More info and screens

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

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 6.08%, WHA is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 5.33, WHA pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.85, WHA pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.08%

5.2 History

  • The dividend of WHA decreases each year by -13.76%.
Dividend Growth(5Y)-13.76%
Div Incr Years4
Div Non Decr Years4
WHA.AS Yearly Dividends per shareWHA.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 75.72% of the earnings are spent on dividend by WHA. This is not a sustainable payout ratio.
DP75.72%
EPS Next 2Y3.52%
EPS Next 3Y3.88%
WHA.AS Yearly Income VS Free CF VS DividendWHA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M -300M
WHA.AS Dividend Payout.WHA.AS Dividend Payout, showing the Payout Ratio.WHA.AS Dividend Payout.PayoutRetained Earnings

More info and screens

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WERELDHAVE NV

AMS:WHA (2/20/2026, 7:00:00 PM)

22.5

+0.1 (+0.45%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-10
Earnings (Next)07-21
Inst Owners30.02%
Inst Owner ChangeN/A
Ins Owners18.27%
Ins Owner ChangeN/A
Market Cap1.04B
Revenue(TTM)203.49M
Net Income(TTM)88.65M
Analysts70
Price Target20.32 (-9.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.08%
Yearly Dividend1.2
Dividend Growth(5Y)-13.76%
DP75.72%
Div Incr Years4
Div Non Decr Years4
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)5.84%
PT rev (3m)8.14%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.11%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.14%
Valuation
Industry RankSector Rank
PE 11.31
Fwd PE 11.91
P/S 5.13
P/FCF 10.51
P/OCF 10.49
P/B 0.99
P/tB 0.99
EV/EBITDA 15.48
EPS(TTM)1.99
EY8.84%
EPS(NY)1.89
Fwd EY8.39%
FCF(TTM)2.14
FCFY9.51%
OCF(TTM)2.14
OCFY9.53%
SpS4.39
BVpS22.74
TBVpS22.74
PEG (NY)4.2
PEG (5Y)N/A
Graham Number31.91
Profitability
Industry RankSector Rank
ROA 3.5%
ROE 8.4%
ROCE 5.84%
ROIC 4.3%
ROICexc 4.35%
ROICexgc 4.35%
OM 64.7%
PM (TTM) 43.57%
GM 71.57%
FCFM 48.8%
ROA(3y)3.71%
ROA(5y)-1.36%
ROE(3y)8.68%
ROE(5y)-3.34%
ROIC(3y)3.94%
ROIC(5y)3.93%
ROICexc(3y)3.98%
ROICexc(5y)3.99%
ROICexgc(3y)3.98%
ROICexgc(5y)3.99%
ROCE(3y)5.37%
ROCE(5y)5.39%
ROICexgc growth 3Y0.66%
ROICexgc growth 5Y1.46%
ROICexc growth 3Y0.66%
ROICexc growth 5Y1.46%
OM growth 3Y5.31%
OM growth 5Y0.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.3%
GM growth 5Y0.24%
F-Score5
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF 10.91
Debt/EBITDA 7.11
Cap/Depr 15.49%
Cap/Sales 0.09%
Interest Coverage 3.75
Cash Conversion 74.88%
Profit Quality 112.02%
Current Ratio 0.28
Quick Ratio 0.28
Altman-Z 0.14
F-Score5
WACC5.1%
ROIC/WACC0.84
Cap/Depr(3y)34.35%
Cap/Depr(5y)27.26%
Cap/Sales(3y)0.25%
Cap/Sales(5y)0.21%
Profit Quality(3y)99.41%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-15.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-39.52%
EPS Next Y2.69%
EPS Next 2Y3.52%
EPS Next 3Y3.88%
EPS Next 5YN/A
Revenue 1Y (TTM)7.35%
Revenue growth 3Y0.24%
Revenue growth 5Y-4.42%
Sales Q2Q%11.89%
Revenue Next Year16.34%
Revenue Next 2Y8.8%
Revenue Next 3Y6.35%
Revenue Next 5YN/A
EBIT growth 1Y13.86%
EBIT growth 3Y5.56%
EBIT growth 5Y-4.24%
EBIT Next Year8.74%
EBIT Next 3Y4.21%
EBIT Next 5YN/A
FCF growth 1Y21.68%
FCF growth 3Y4.84%
FCF growth 5Y-4.2%
OCF growth 1Y21.45%
OCF growth 3Y4.72%
OCF growth 5Y-4.26%

WERELDHAVE NV / WHA.AS FAQ

Can you provide the ChartMill fundamental rating for WERELDHAVE NV?

ChartMill assigns a fundamental rating of 4 / 10 to WHA.AS.


What is the valuation status for WHA stock?

ChartMill assigns a valuation rating of 5 / 10 to WERELDHAVE NV (WHA.AS). This can be considered as Fairly Valued.


What is the profitability of WHA stock?

WERELDHAVE NV (WHA.AS) has a profitability rating of 5 / 10.


Can you provide the financial health for WHA stock?

The financial health rating of WERELDHAVE NV (WHA.AS) is 2 / 10.


How sustainable is the dividend of WERELDHAVE NV (WHA.AS) stock?

The dividend rating of WERELDHAVE NV (WHA.AS) is 5 / 10 and the dividend payout ratio is 75.72%.