ENXTBR:HOMI

Stock Analysis Report

Executive Summary

Home Invest Belgium S.A. operates as a real estate investment company in Belgium.


Snowflake Analysis

Fair value unattractive dividend payer.

Share Price & News

How has Home Invest Belgium's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HOMI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.5%

HOMI

8.0%

BE REITs

1.2%

BE Market


1 Year Return

6.6%

HOMI

-4.9%

BE REITs

-28.5%

BE Market

Return vs Industry: HOMI exceeded the Belgian REITs industry which returned -4.9% over the past year.

Return vs Market: HOMI exceeded the Belgian Market which returned -28.5% over the past year.


Shareholder returns

HOMIIndustryMarket
7 Day4.5%8.0%1.2%
30 Day4.5%-16.3%-16.9%
90 Day-8.3%-15.4%-30.7%
1 Year9.9%6.6%-1.9%-4.9%-27.1%-28.5%
3 Year19.9%8.9%27.2%11.9%-34.4%-38.7%
5 Year39.3%14.4%41.5%14.6%-34.5%-42.1%

Price Volatility Vs. Market

How volatile is Home Invest Belgium's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Home Invest Belgium undervalued compared to its fair value and its price relative to the market?

1.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HOMI (€102.5) is trading below our estimate of fair value (€105.68)

Significantly Below Fair Value: HOMI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: HOMI is good value based on its PE Ratio (6.1x) compared to the REITs industry average (11x).

PE vs Market: HOMI is good value based on its PE Ratio (6.1x) compared to the Belgian market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HOMI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HOMI is overvalued based on its PB Ratio (1.1x) compared to the BE REITs industry average (1x).


Next Steps

Future Growth

How is Home Invest Belgium forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

4.8%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if HOMI's forecast earnings growth is above the savings rate (0.7%).

Earnings vs Market: Insufficient data to determine if HOMI's earnings are forecast to grow faster than the Belgian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HOMI's revenue (4.8% per year) is forecast to grow faster than the Belgian market (2.2% per year).

High Growth Revenue: HOMI's revenue (4.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HOMI's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has Home Invest Belgium performed over the past 5 years?

39.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HOMI has a large one-off gain of €43.2M impacting its December 31 2019 financial results.

Growing Profit Margin: HOMI's current net profit margins are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: HOMI's earnings have grown significantly by 39.2% per year over the past 5 years.

Accelerating Growth: HOMI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HOMI had negative earnings growth (-19.3%) over the past year, making it difficult to compare to the REITs industry average (17.2%).


Return on Equity

High ROE: HOMI's Return on Equity (17.9%) is considered low.


Next Steps

Financial Health

How is Home Invest Belgium's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: HOMI has a high level of physical assets or inventory.

Debt Coverage by Assets: HOMI's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

Asset Level: HOMI's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if HOMI has a sufficient allowance for bad loans.

Low Risk Liabilities: HOMI reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if HOMI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: HOMI has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if HOMI has an appropriate level of bad loans.


Next Steps

Dividend

What is Home Invest Belgium's current dividend yield, its reliability and sustainability?

4.64%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HOMI's dividend (4.73%) is higher than the bottom 25% of dividend payers in the Belgian market (2.67%).

High Dividend: HOMI's dividend (4.73%) is low compared to the top 25% of dividend payers in the Belgian market (6.32%).


Stability and Growth of Payments

Stable Dividend: HOMI's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (123.9%), HOMI's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HOMI's dividends in 3 years are not forecast to be well covered by earnings (134.8% payout ratio).


Next Steps

Management

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

1.2yrs

Average management tenure


CEO

Sven Janssens (47yo)

1

Tenure

€448,325

Compensation

Mr. Sven Janssens serves as Chief Executive Officer at Home Invest Belgium S.A. since March 2019 and also has been its Executive Director since 2019. Mr. Janssens served as Chief Operating Officer of Leasi ...


CEO Compensation Analysis

Compensation vs Market: Sven's total compensation ($USD497.09K) is about average for companies of similar size in the Belgian market ($USD482.54K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Sven Janssens
CEO & Executive Director1yr€448.33kno data
Preben Bruggeman
Chief Finance Officer1.17yrsno datano data
Caroline Maddens
Compliance Officer5.75yrsno datano data

1.2yrs

Average Tenure

Experienced Management: HOMI's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Sven Janssens
CEO & Executive Director1yr€448.33kno data
Koen Dejonckheere
Independent Director8.83yrs€11.00kno data
Eric Spiessens
Independent Vice-Chairman3.83yrs€23.75kno data
Michel Pleeck
Honorary Chairman8.83yrsno datano data
Guy Van Wymersch-Moons
Honorary Chairman6.33yrs€7.90kno data
Guillaume Botermans
Honorary Chairman3.83yrsno datano data
Liévin Van Overstraeten
Chairman of the Board3.83yrs€29.25k0.026% 91.0k
Johan Overstraeten
Representative Director9.58yrs€21.50k0.037% 128.6k
Wim Aurousseau
Representative Director6yrs€11.75kno data
Suzy Denys
Independent Director0.75yrno datano data

4.9yrs

Average Tenure

57.5yo

Average Age

Experienced Board: HOMI's board of directors are considered experienced (4.9 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

Home Invest Belgium S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Home Invest Belgium S.A.
  • Ticker: HOMI
  • Exchange: ENXTBR
  • Founded: 1980
  • Industry: Residential REITs
  • Sector: Real Estate
  • Market Cap: €343.611m
  • Shares outstanding: 3.29m
  • Website: https://www.homeinvestbelgium.be

Number of Employees


Location

  • Home Invest Belgium S.A.
  • Boulevard de la Woluwe 60
  • Box no. 4
  • Brussels
  • Brussels
  • 1200
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HOMIENXTBR (Euronext Brussels)YesCommon StockBEEURJan 2007
H5VDB (Deutsche Boerse AG)YesCommon StockDEEURJan 2007
0NGPLSE (London Stock Exchange)YesCommon StockGBEURJan 2007
HOMIBBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJan 2007

Biography

Home Invest Belgium S.A. operates as a real estate investment company in Belgium. It primarily invests in residential properties. As of December 31, 2008, the company’s real estate portfolio consisted of 992 rental units with a total rentable space of approximately 111,091 square meters. The company was formerly known as Home Invest and changed its name to Home Invest Belgium S.A. in May 1999. Home Invest Belgium S.A. was founded in 1980 and is based in Brussels, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 21:44
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.