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Koninklijke Ahold Delhaize

WBAG:AD
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AD
WBAG
€25B
Market Cap
  1. Home
  2. AT
  3. Consumer Retailing
Company description

Koninklijke Ahold Delhaize N.V. operates retail food stores primarily in the United States and Europe. The last earnings update was 50 days ago. More info.


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AD Share Price and Events
7 Day Returns
-4.2%
WBAG:AD
-0.2%
Europe Consumer Retailing
3.4%
AT Market
1 Year Returns
13.4%
WBAG:AD
1.1%
Europe Consumer Retailing
-2%
AT Market
AD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Koninklijke Ahold Delhaize (AD) -4.2% -6.4% -2.6% 13.4% - -
Europe Consumer Retailing -0.2% 0% 4.1% 1.1% -5.3% -9%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • AD outperformed the Consumer Retailing industry which returned 1.1% over the past year.
  • AD outperformed the Market in Austria which returned -2% over the past year.
Price Volatility
AD
Industry
5yr Volatility vs Market

Value

 Is Koninklijke Ahold Delhaize undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Koninklijke Ahold Delhaize to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Koninklijke Ahold Delhaize.

WBAG:AD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:AD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.465 (1 + (1- 25%) (26.9%))
0.705
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.8 * 5.96%)
5.28%

Discounted Cash Flow Calculation for WBAG:AD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Koninklijke Ahold Delhaize is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:AD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.28%)
2019 1,877.52 Analyst x5 1,783.39
2020 1,874.82 Analyst x9 1,691.54
2021 1,886.02 Analyst x4 1,616.34
2022 1,891.89 Est @ 0.31% 1,540.09
2023 1,898.91 Est @ 0.37% 1,468.30
2024 1,906.74 Est @ 0.41% 1,400.45
2025 1,915.17 Est @ 0.44% 1,336.11
2026 1,924.02 Est @ 0.46% 1,274.99
2027 1,933.19 Est @ 0.48% 1,216.85
2028 1,942.60 Est @ 0.49% 1,161.46
Present value of next 10 years cash flows €14,489.53
WBAG:AD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,942.60 × (1 + 0.51%) ÷ (5.28% – 0.51%)
€40,950.14
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €40,950.14 ÷ (1 + 5.28%)10
€24,483.82
WBAG:AD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €14,489.53 + €24,483.82
€38,973.35
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €38,973.35 / 1,115.59
€34.94
WBAG:AD Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:AD represents 0.99932x of ENXTAM:AD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99932x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 34.94 x 0.99932
€34.91
Value per share (EUR) From above. €34.91
Current discount Discount to share price of €22.02
= -1 x (€22.02 - €34.91) / €34.91
36.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Koninklijke Ahold Delhaize is available for.
Intrinsic value
37%
Share price is €22.02 vs Future cash flow value of €34.91
Current Discount Checks
For Koninklijke Ahold Delhaize to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Koninklijke Ahold Delhaize's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Koninklijke Ahold Delhaize's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Koninklijke Ahold Delhaize's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Koninklijke Ahold Delhaize's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:AD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-30) in EUR €1.54
ENXTAM:AD Share Price ** ENXTAM (2019-04-18) in EUR €22.04
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.26x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Koninklijke Ahold Delhaize.

WBAG:AD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:AD Share Price ÷ EPS (both in EUR)

= 22.04 ÷ 1.54

14.32x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Koninklijke Ahold Delhaize is good value based on earnings compared to the Europe Consumer Retailing industry average.
  • Koninklijke Ahold Delhaize is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Koninklijke Ahold Delhaize's expected growth come at a high price?
Raw Data
WBAG:AD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
1.9%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.71x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:AD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.32x ÷ 1.9%

7.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Koninklijke Ahold Delhaize is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Koninklijke Ahold Delhaize's assets?
Raw Data
WBAG:AD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-30) in EUR €13.11
ENXTAM:AD Share Price * ENXTAM (2019-04-18) in EUR €22.04
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.55x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:AD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:AD Share Price ÷ Book Value per Share (both in EUR)

= 22.04 ÷ 13.11

1.68x

* Primary Listing of Koninklijke Ahold Delhaize.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Koninklijke Ahold Delhaize is overvalued based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess Koninklijke Ahold Delhaize's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Koninklijke Ahold Delhaize has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Koninklijke Ahold Delhaize expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Koninklijke Ahold Delhaize expected to grow at an attractive rate?
  • Koninklijke Ahold Delhaize's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Koninklijke Ahold Delhaize's earnings growth is positive but not above the Austria market average.
  • Koninklijke Ahold Delhaize's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:AD Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:AD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 1.9%
WBAG:AD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 3.4%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12.2%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:AD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:AD Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 80,117 1
2022-12-31 76,466 2,011 1
2021-12-31 68,959 4,233 1,911 14
2020-12-31 67,162 4,158 1,903 18
2019-12-31 65,535 4,077 1,889 17
2018-12-31 62,544 3,829 1,762 17
WBAG:AD Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-30 62,791 4,323 1,809
2018-09-30 62,007 4,283 2,036
2018-07-01 61,363 4,087 1,923
2018-04-01 61,953 3,839 1,868
2017-12-31 62,890 3,695 1,817
2017-10-01 63,486 3,746 1,252
2017-07-02 62,438 3,451 1,125
2017-04-02 55,955 3,069 980
2017-01-01 49,695 2,893 830
2016-10-02 43,122 2,160 906
2016-07-03 37,474 2,084 860
2016-04-24 36,524 2,154 845
2016-01-03 38,203 2,133 850

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Koninklijke Ahold Delhaize's earnings are expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
  • Koninklijke Ahold Delhaize's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:AD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Koninklijke Ahold Delhaize Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:AD Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 1.93 1.93 1.93 1.00
2021-12-31 1.83 2.31 1.62 8.00
2020-12-31 1.73 1.86 1.49 13.00
2019-12-31 1.67 1.74 1.57 12.00
2018-12-31 1.49 1.54 1.44 8.00
WBAG:AD Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-30 1.54
2018-09-30 1.70
2018-07-01 1.57
2018-04-01 1.51
2017-12-31 1.45
2017-10-01 0.99
2017-07-02 0.89
2017-04-02 0.86
2017-01-01 0.81
2016-10-02 1.01
2016-07-03 1.11
2016-04-24 1.09
2016-01-03 1.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Koninklijke Ahold Delhaize is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Koninklijke Ahold Delhaize's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Koninklijke Ahold Delhaize has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Koninklijke Ahold Delhaize performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Koninklijke Ahold Delhaize's growth in the last year to its industry (Consumer Retailing).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Koninklijke Ahold Delhaize has delivered over 20% year on year earnings growth in the past 5 years.
  • Koninklijke Ahold Delhaize's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Koninklijke Ahold Delhaize's 1-year earnings growth is negative, it can't be compared to the Europe Consumer Retailing industry average.
Earnings and Revenue History
Koninklijke Ahold Delhaize's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Koninklijke Ahold Delhaize Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:AD Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-30 62,791.00 1,809.00 14,417.00
2018-09-30 62,007.00 2,036.00 14,090.00
2018-07-01 61,363.00 1,923.00 13,935.00
2018-04-01 61,953.00 1,868.00 14,100.00
2017-12-31 62,890.00 1,817.00 14,364.00
2017-10-01 63,486.00 1,252.00 14,432.00
2017-07-02 62,438.00 1,125.00 14,297.00
2017-04-02 55,955.00 980.00 12,862.00
2017-01-01 49,695.00 830.00 11,501.00
2016-10-02 43,122.00 906.00 10,155.00
2016-07-03 37,474.00 860.00 8,824.00
2016-04-24 36,524.00 845.00 8,575.00
2016-01-03 38,203.00 850.00 8,978.00
2015-10-04 36,478.00 816.00 8,602.00
2015-07-12 35,510.00 804.00 8,267.00
2015-04-19 34,242.00 767.00 7,913.00
2014-12-28 32,774.00 791.00 7,440.00
2014-10-05 32,185.00 795.00 7,164.00
2014-07-13 32,044.00 783.00 7,168.00
2014-04-20 32,362.00 829.00 7,197.00
2013-12-29 32,615.00 805.00 7,384.00
2013-10-06 32,819.00 788.00 7,412.00
2013-07-14 33,086.00 809.00 7,413.00
2013-04-21 33,040.00 823.00 7,365.00
2012-12-30 32,682.00 869.00 7,168.00
2012-10-07 32,296.00 935.00 7,087.00
2012-07-14 31,554.00 1,003.00 6,888.00
2012-04-22 30,736.00 991.00 6,706.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Koninklijke Ahold Delhaize has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Koninklijke Ahold Delhaize used its assets more efficiently than the Europe Consumer Retailing industry average last year based on Return on Assets.
  • Koninklijke Ahold Delhaize's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Koninklijke Ahold Delhaize's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Koninklijke Ahold Delhaize has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Koninklijke Ahold Delhaize's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Koninklijke Ahold Delhaize's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Koninklijke Ahold Delhaize's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Koninklijke Ahold Delhaize's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Koninklijke Ahold Delhaize's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Koninklijke Ahold Delhaize Company Filings, last reported 3 months ago.

WBAG:AD Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-30 14,816.00 6,612.00 3,498.00
2018-09-30 14,495.00 8,992.00 5,713.00
2018-07-01 14,621.00 7,985.00 4,861.00
2018-04-01 14,885.00 8,661.00 6,198.00
2017-12-31 15,170.00 7,251.00 4,739.00
2017-10-01 14,785.00 7,263.00 4,107.00
2017-07-02 14,971.00 6,807.00 3,475.00
2017-04-02 16,249.00 7,116.00 4,143.00
2017-01-01 16,276.00 7,560.00 4,340.00
2016-10-02 15,203.00 7,389.00 4,098.00
2016-07-03 4,489.00 3,391.00 2,696.00
2016-04-24 5,193.00 3,379.00 2,908.00
2016-01-03 5,621.00 3,502.00 2,344.00
2015-10-04 5,238.00 3,312.00 2,157.00
2015-07-12 4,993.00 1,510.00 1,963.00
2015-04-19 5,002.00 3,469.00 2,187.00
2014-12-28 4,844.00 3,197.00 1,870.00
2014-10-05 4,440.00 3,189.00 1,772.00
2014-07-13 4,440.00 3,027.00 2,025.00
2014-04-20 4,685.00 2,982.00 2,756.00
2013-12-29 6,520.00 3,021.00 3,948.00
2013-10-06 6,558.00 3,066.00 3,891.00
2013-07-14 6,753.00 3,155.00 4,018.00
2013-04-21 6,817.00 3,200.00 4,454.00
2012-12-30 5,146.00 3,246.00 1,886.00
2012-10-07 5,890.00 3,316.00 1,626.00
2012-07-14 5,930.00 3,630.00 1,840.00
2012-04-22 5,417.00 3,249.00 2,322.00
  • Koninklijke Ahold Delhaize's level of debt (44.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (46.6% vs 44.6% today).
  • Debt is well covered by operating cash flow (65.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.6x coverage).
X
Financial health checks
We assess Koninklijke Ahold Delhaize's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Koninklijke Ahold Delhaize has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Koninklijke Ahold Delhaize's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.18%
Current annual income from Koninklijke Ahold Delhaize dividends. Estimated to be 3.79% next year.
If you bought €2,000 of Koninklijke Ahold Delhaize shares you are expected to receive €64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Koninklijke Ahold Delhaize's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Koninklijke Ahold Delhaize's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:AD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:AD Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.21 1.00
2022-12-31 1.12 1.00
2021-12-31 0.86 14.00
2020-12-31 0.83 19.00
2019-12-31 0.79 19.00
2018-12-31 0.73 20.00
WBAG:AD Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-10 0.700 3.125
2018-02-28 0.630 3.009
2016-03-03 0.553 2.794
2015-04-15 0.510 2.596
2014-03-04 0.541 3.570
2014-02-27 0.541 3.444
2013-03-07 0.507 3.496
2013-02-28 0.507 4.007
2012-03-06 0.460 4.017
2012-03-01 0.460 3.958
2011-04-20 0.334 3.100
2010-03-04 0.265 2.330
2009-04-29 0.207 2.082
2009-04-20 0.184 1.885

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Koninklijke Ahold Delhaize's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Koninklijke Ahold Delhaize's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Koninklijke Ahold Delhaize afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Koninklijke Ahold Delhaize has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Koninklijke Ahold Delhaize's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Frans W. Muller
COMPENSATION €4,989,000
AGE 57
TENURE AS CEO 0.8 years
CEO Bio

Mr. Frans W. H. Muller has been the Chief Executive Officer of Koninklijke Ahold Delhaize N.V. since July 1, 2018 and its Member of Management Board since July 24, 2016. Mr. Muller serves as a Chairman of Management Board of Koninklijke Ahold Delhaize N.V. He served as Deputy CEO and Chief Integration Officer of Koninklijke Ahold Delhaize N.V. since July 24, 2016. He was responsible for Delhaize America, including Food Lion and Hannaford, on an interim basis from October 2016 until January 2018. He served as Chief Integration Officer and Member of Management Board of Etablissements Delhaize Frères et Cie Le Lion (Groupe Delhaize) SA since July 24, 2016 and also served as its Chief Operating Officer of Delhaize America since October 12, 2016. Mr. Muller served as the Chief Executive Officer and President of Etablissements Delhaize Frères et Cie Le Lion (Groupe Delhaize) SA (also known as Delhaize Group) at Delhaize America, LLC since November 8, 2013. Mr. Muller served as the Chief Executive Officer of Metro Group. He has more than 15 years of senior leadership experience in retail. He served as a Member of Management Board at Metro Ag (also known as Metro Group) from August 1, 2006 to March 31, 2013 and served as its Chief Executive Officer of Metro Cash & Carry Asia/CIS/New Markets from April 2010 to March 31, 2013. Mr. Muller was responsible for Procurement, Logistics, Advertising and Dinea. He served as the Chief Executive Officer of Metro Group Buying from 2005 to 2008 and General Manager of Metro AG from September 2005 to July 2006. He served as Regional Director for Eastern Europe and Russia at Metro Cash&Carry International. From 2008 to March 2013, he served as Chief Executive Officer of Metro Cash & Carry. He served as Member of the Executive Board of Directors and President Asia Pacific and Russia/Ukraine of Metro Cash & Carry International GmbH, Dusseldorf from 2004 to 2005. He served as Member of the Executive Board of Directors and Chief Operating Officer for Eastern Europe and Russia of Metro Cash & Carry International GmbH, Dusseldorf from 2002 to 2004. Mr. Muller served as Operations Director and Managing Director of Makro Cash & Carry Nederland B.V., Diemen from 1997 to 2002. In 1988, he joined KLM Cargo where he served in various management and executive positions in Amsterdam, Frankfurt, Vienna, Singapore. Mr. Muller joined the German retailer Metro AG in 1997. He served in various management and executive positions at KLM Cargo in Amsterdam, Frankfurt, Vienna, Singapore and served as Regional Sales Director South East Asia and Australia from 1988 to 1997. He has been Chairman of Dinea Gastronomie GmbH since August 1, 2006 and Real Holding GmbH since September 12, 2006. He serves as Board Member of The Consumer Goods Forum and serves on the board of directors at the Food Marketing Institute Inc. He was appointed as board of directors of Vlerick Business School. Since 2002, he served as a board member of Metro Cash&Carry International. He has Membership in other statutory supervisory boards of German companies and also Membership in comparable German and foreign boards of business enterprises. He is the President of the European Retail Round Table (ERRT). He studied at High School, university education in business economics at Erasmus University, Rotterdam (The Netherlands) with Master of Business Economics.

CEO Compensation
  • Frans W.'s compensation has been consistent with company performance over the past year.
  • Insufficient data for Frans W. to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Koninklijke Ahold Delhaize management team in years:

2.8
Average Tenure
55
Average Age
  • The tenure for the Koninklijke Ahold Delhaize management team is about average.
Management Team

Frans W. Muller

TITLE
President
COMPENSATION
€5M
AGE
57
TENURE
0.8 yrs

Jeff Carr

TITLE
CFO & Member of Management Board
COMPENSATION
€3M
AGE
57
TENURE
2.8 yrs

Wouter Kolk

TITLE
CEO of Ahold Delhaize Europe & Indonesia and Member of Management Board
COMPENSATION
€1M
AGE
52
TENURE
1 yrs

Kevin Holt

TITLE
CEO of Ahold Delhaize USA & Member of Management Board
COMPENSATION
€4M
AGE
60
TENURE
2.8 yrs

Dick Boer

TITLE
COMPENSATION
€9M
AGE
61
TENURE
0.8 yrs

Ben Wishart

TITLE
Global Chief Information Officer
AGE
55
TENURE
5.8 yrs

Henk Jan Brinke

TITLE
Senior Vice President of Investor Relations

Jan Ernst de Groot

TITLE
Chief Legal Officer
AGE
55
TENURE
2.8 yrs

Abbe Luersman

TITLE
Chief Human Resources Officer
AGE
51
TENURE
2.8 yrs

Farhan Siddiqi

TITLE
Chief Digital Officer
AGE
49
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Koninklijke Ahold Delhaize board of directors in years:

2.8
Average Tenure
59.5
Average Age
  • The average tenure for the Koninklijke Ahold Delhaize board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jan H. Hommen

TITLE
Chairman of Supervisory Board
AGE
75
TENURE
1 yrs

Jacques de Vaucleroy

TITLE
Vice Chairman of Supervisory Board
AGE
57
TENURE
2.8 yrs

Bill McEwan

TITLE
Vice Chairman of Supervisory Board
AGE
62
TENURE
1 yrs

D. René Graafland

TITLE
Member of Supervisory Board
AGE
63
TENURE
2.8 yrs

Ben Noteboom

TITLE
Member of Supervisory Board
AGE
60
TENURE
2.8 yrs

Mary Citrino

TITLE
Member of Supervisory Board
AGE
59
TENURE
2.8 yrs

Dominique Leroy

TITLE
Member of Supervisory Board
AGE
54
TENURE
2.8 yrs

Peter Agnefjäll

TITLE
Member of Supervisory Board

Katie Doyle

TITLE
Member of Supervisory Board
AGE
50
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Koninklijke Ahold Delhaize's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Koninklijke Ahold Delhaize has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Koninklijke Ahold Delhaize N.V. operates retail food stores primarily in the United States and Europe. The company’s store formats include supermarkets, convenience stores, compact hypermarkets, cash and carry, drugstores, hypermarkets, and wine and liquor stores. As of December 30, 2018, it operated 6,769 stores primarily under 19 brands serving approximately 50 million customers, as well as online. The company was formerly known as Koninklijke Ahold N.V. and changed its name to Koninklijke Ahold Delhaize N.V. in July 2016. Koninklijke Ahold Delhaize N.V. was founded in 1887 and is headquartered in Zaandam, the Netherlands.

Details
Name: Koninklijke Ahold Delhaize N.V.
AD
Exchange: WBAG
Founded: 1887
€24,581,960,404
1,115,587,039
Website: http://www.aholddelhaize.com
Address: Koninklijke Ahold Delhaize N.V.
Provincialeweg 11,
Zaandam,
Noord-Holland, 1506 MA,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM AD Common Shares Euronext Amsterdam NL EUR 03. May 1993
OTCPK AHOD.F Common Shares Pink Sheets LLC US USD 03. May 1993
DB AHOG Common Shares Deutsche Boerse AG DE EUR 03. May 1993
LSE 0RI8 Common Shares London Stock Exchange GB EUR 03. May 1993
BIT AD Common Shares Borsa Italiana IT EUR 03. May 1993
WBAG AD Common Shares Wiener Boerse AG AT EUR 03. May 1993
BMV AD N Common Shares Bolsa Mexicana de Valores MX MXN 03. May 1993
BATS-CHIXE ADA Common Shares BATS 'Chi-X Europe' GB EUR 03. May 1993
OTCPK ADRN.Y SPON ADR EACH REP 1 ORD SHS (POST SPLIT) Pink Sheets LLC US USD 12. Aug 1988
DB AHOD SPON ADR EACH REP 1 ORD SHS (POST SPLIT) Deutsche Boerse AG DE EUR 12. Aug 1988
BIT AH EUR0.01 Borsa Italiana IT EUR 18. Apr 2019
ENXTAM AH EUR0.01 Euronext Amsterdam NL EUR 18. Apr 2019
BMV AHT N EUR0.01 Bolsa Mexicana de Valores MX EUR 18. Apr 2019
Number of employees
Current staff
Staff numbers
247,500
Koninklijke Ahold Delhaize employees.
Industry
Food Retail
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:15
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/30
Last annual earnings reported: 2018/12/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.