company background image
TERB

Ter Beke ENXTBR:TERB Stock Report

Last Price

€99.80

Market Cap

€179.1m

7D

1.2%

1Y

-12.1%

Updated

07 Aug, 2022

Data

Company Financials +
TERB fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance1/6
Financial Health3/6
Dividends4/6

TERB Stock Overview

Ter Beke NV, together with its subsidiaries, develops, produces, and sells a range of processed meat products and ready meals to discount and retail clients in Europe.

Ter Beke Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ter Beke
Historical stock prices
Current Share Price€99.80
52 Week High€125.00
52 Week Low€95.00
Beta0.47
1 Month Change2.05%
3 Month Change-8.44%
1 Year Change-12.07%
3 Year Change-6.73%
5 Year Change-44.39%
Change since IPO168.44%

Recent News & Updates

Feb 16
Be Wary Of Ter Beke (EBR:TERB) And Its Returns On Capital

Be Wary Of Ter Beke (EBR:TERB) And Its Returns On Capital

What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...

Shareholder Returns

TERBBE FoodBE Market
7D1.2%2.7%-0.6%
1Y-12.1%12.1%-8.1%

Return vs Industry: TERB underperformed the Belgian Food industry which returned 12.1% over the past year.

Return vs Market: TERB underperformed the Belgian Market which returned -8.1% over the past year.

Price Volatility

Is TERB's price volatile compared to industry and market?
TERB volatility
TERB Average Weekly Movement2.0%
Food Industry Average Movement3.4%
Market Average Movement4.7%
10% most volatile stocks in BE Market8.4%
10% least volatile stocks in BE Market2.7%

Stable Share Price: TERB is less volatile than 75% of Belgian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: TERB's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19482,407Piet Sandershttps://www.terbeke.com

Ter Beke NV, together with its subsidiaries, develops, produces, and sells a range of processed meat products and ready meals to discount and retail clients in Europe. It operates through two segments, Processed Meats and Ready Meals. The Processed Meats segment develops, produces, and sells a range of processed meats, including salami, cooked ham, poultry, other cooked meats, pâtés, preserved meats, tongue, and liver products under the Pluma, Daniël Coopman, Zonnenberg, Kraak-Vers, and FairBeleg brand names, as well as other private labels.

Ter Beke Fundamentals Summary

How do Ter Beke's earnings and revenue compare to its market cap?
TERB fundamental statistics
Market Cap€179.06m
Earnings (TTM)€7.35m
Revenue (TTM)€696.91m

24.4x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TERB income statement (TTM)
Revenue€696.91m
Cost of Revenue€521.09m
Gross Profit€175.81m
Other Expenses€168.47m
Earnings€7.35m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.09
Gross Margin25.23%
Net Profit Margin1.05%
Debt/Equity Ratio66.9%

How did TERB perform over the long term?

See historical performance and comparison

Dividends

4.0%

Current Dividend Yield

97%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is TERB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TERB?

Other financial metrics that can be useful for relative valuation.

TERB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.4x
Enterprise Value/EBITDA5.4x
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does TERB's PE Ratio compare to its peers?

TERB PE Ratio vs Peers
The above table shows the PE ratio for TERB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average42.2x
MIKO Miko
30.5xn/a€125.4m
GREEN Greenyard
27.9x33.7%€446.2m
FLOB Floridienne
59.3xn/a€781.6m
LOTB Lotus Bakeries
51.3x11.4%€4.7b
TERB Ter Beke
24.4x68.1%€179.1m

Price-To-Earnings vs Peers: TERB is good value based on its Price-To-Earnings Ratio (24.4x) compared to the peer average (42.2x).


Price to Earnings Ratio vs Industry

How does TERB's PE Ratio compare vs other companies in the European Food Industry?

Price-To-Earnings vs Industry: TERB is good value based on its Price-To-Earnings Ratio (24.4x) compared to the Belgian Food industry average (29.2x)


Price to Earnings Ratio vs Fair Ratio

What is TERB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TERB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.4x
Fair PE Ratio50.6x

Price-To-Earnings vs Fair Ratio: TERB is good value based on its Price-To-Earnings Ratio (24.4x) compared to the estimated Fair Price-To-Earnings Ratio (50.6x).


Share Price vs Fair Value

What is the Fair Price of TERB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TERB (€99.8) is trading below our estimate of fair value (€308.02)

Significantly Below Fair Value: TERB is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


Discover undervalued companies

Future Growth

How is Ter Beke forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


68.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TERB's forecast earnings growth (68.1% per year) is above the savings rate (1.1%).

Earnings vs Market: TERB's earnings (68.1% per year) are forecast to grow faster than the Belgian market (16.3% per year).

High Growth Earnings: TERB's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TERB's revenue (17.9% per year) is forecast to grow faster than the Belgian market (2% per year).

High Growth Revenue: TERB's revenue (17.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TERB's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Ter Beke performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-33.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TERB has a large one-off loss of €3.9M impacting its December 31 2021 financial results.

Growing Profit Margin: TERB became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TERB's earnings have declined by 33.2% per year over the past 5 years.

Accelerating Growth: TERB has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TERB has become profitable in the last year, making it difficult to compare its past year earnings growth to the Food industry (15%).


Return on Equity

High ROE: TERB's Return on Equity (6%) is considered low.


Discover strong past performing companies

Financial Health

How is Ter Beke's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TERB's short term assets (€150.1M) do not cover its short term liabilities (€165.8M).

Long Term Liabilities: TERB's short term assets (€150.1M) exceed its long term liabilities (€94.5M).


Debt to Equity History and Analysis

Debt Level: TERB's net debt to equity ratio (57.4%) is considered high.

Reducing Debt: TERB's debt to equity ratio has increased from 38.2% to 66.9% over the past 5 years.

Debt Coverage: TERB's debt is well covered by operating cash flow (62.5%).

Interest Coverage: TERB's interest payments on its debt are well covered by EBIT (10.6x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Ter Beke current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.01%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TERB's dividend (4.01%) is higher than the bottom 25% of dividend payers in the Belgian market (1.96%).

High Dividend: TERB's dividend (4.01%) is low compared to the top 25% of dividend payers in the Belgian market (5.81%).


Stability and Growth of Payments

Stable Dividend: TERB's dividends per share have been stable in the past 10 years.

Growing Dividend: TERB's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (97%), TERB's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (22.8%), TERB's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Piet Sanders

0.83

Tenure

€634,000

Compensation

Mr. Piet Sanders has experience in the food sector. He has been the Chief Executive Officer at Ter Beke NV since October 01, 2021.


CEO Compensation Analysis

Compensation vs Market: Piet's total compensation ($USD643.92K) is about average for companies of similar size in the Belgian market ($USD520.01K).

Compensation vs Earnings: Insufficient data to compare Piet's compensation with company performance.


Leadership Team

Experienced Management: TERB's management team is considered experienced (3.5 years average tenure).


Board Members

Experienced Board: TERB's board of directors are considered experienced (6.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ter Beke NV's employee growth, exchange listings and data sources


Key Information

  • Name: Ter Beke NV
  • Ticker: TERB
  • Exchange: ENXTBR
  • Founded: 1948
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: €179.063m
  • Shares outstanding: 1.79m
  • Website: https://www.terbeke.com

Number of Employees


Location

  • Ter Beke NV
  • Beke 1
  • Lievegem
  • Gent
  • East Flanders
  • 9950
  • Belgium

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.