Warehouses De Pauw
Market Cap
€5.0b
Last Updated
2020/08/14 10:19 UTC
Data Sources
Company Financials +
Executive Summary
WDP develops and invests in logistics property (warehouses and offices).
Snowflake Analysis
Established dividend payer with limited growth.
Share Price & News
How has Warehouses De Pauw's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WDP has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.5%
WDP
1.9%
BE REITs
3.1%
BE Market
1 Year Return
25.4%
WDP
1.3%
BE REITs
-19.2%
BE Market
Return vs Industry: WDP exceeded the Belgian REITs industry which returned 2.2% over the past year.
Return vs Market: WDP exceeded the Belgian Market which returned -20.6% over the past year.
Shareholder returns
| WDP | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.5% | 1.9% | 3.1% |
| 30 Day | 16.4% | 1.8% | -0.4% |
| 90 Day | 25.4% | 8.3% | 13.7% |
| 1 Year | 28.1%25.4% | 4.3%1.3% | -17.9%-19.2% |
| 3 Year | 127.6%110.8% | 37.8%22.2% | -24.7%-29.3% |
| 5 Year | 231.3%186.3% | 72.5%41.6% | -16.1%-25.1% |
Price Volatility Vs. Market
How volatile is Warehouses De Pauw's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 months ago | Simply Wall St
Can We See Significant Insider Ownership On The Warehouses De Pauw NV (EBR:WDP) Share Register?8 months ago | Simply Wall St
What Kind Of Shareholders Own Warehouses De Pauw (EBR:WDP)?1 year ago | Simply Wall St
How Does Warehouses De Pauw (EBR:WDP) Fare As A Dividend Stock?Valuation
Is Warehouses De Pauw undervalued compared to its fair value and its price relative to the market?
13.86x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: WDP (€28.5) is trading above our estimate of fair value (€23.92)
Significantly Below Fair Value: WDP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: WDP is good value based on its PE Ratio (13.7x) compared to the BE REITs industry average (15.1x).
PE vs Market: WDP's PE Ratio (13.7x) is in line with the Belgian market.
Price to Earnings Growth Ratio
PEG Ratio: WDP is poor value based on its PEG Ratio (2.2x)
Price to Book Ratio
PB vs Industry: WDP is overvalued based on its PB Ratio (2.3x) compared to the BE REITs industry average (1.2x).
Next Steps
Future Growth
How is Warehouses De Pauw forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
6.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WDP's forecast earnings growth (6.3% per year) is above the savings rate (1.6%).
Earnings vs Market: WDP's earnings (6.3% per year) are forecast to grow slower than the Belgian market (26.2% per year).
High Growth Earnings: WDP's earnings are forecast to grow, but not significantly.
Revenue vs Market: WDP's revenue (8.6% per year) is forecast to grow faster than the Belgian market (5.3% per year).
High Growth Revenue: WDP's revenue (8.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WDP's Return on Equity is forecast to be low in 3 years time (11.9%).
Next Steps
Past Performance
How has Warehouses De Pauw performed over the past 5 years?
27.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WDP has a large one-off gain of €200.7M impacting its June 30 2020 financial results.
Growing Profit Margin: WDP's current net profit margins are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: WDP's earnings have grown significantly by 27.3% per year over the past 5 years.
Accelerating Growth: WDP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WDP had negative earnings growth (-13.7%) over the past year, making it difficult to compare to the REITs industry average (21%).
Return on Equity
High ROE: WDP's Return on Equity (16.3%) is considered low.
Next Steps
Financial Health
How is Warehouses De Pauw's financial position?
Financial Position Analysis
Short Term Liabilities: WDP's short term assets (€73.0M) do not cover its short term liabilities (€512.1M).
Long Term Liabilities: WDP's short term assets (€73.0M) do not cover its long term liabilities (€1.8B).
Debt to Equity History and Analysis
Debt Level: WDP's debt to equity ratio (98.1%) is considered high.
Reducing Debt: WDP's debt to equity ratio has reduced from 146.7% to 98.1% over the past 5 years.
Debt Coverage: WDP's debt is not well covered by operating cash flow (8.2%).
Interest Coverage: WDP's interest payments on its debt are well covered by EBIT (9.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Warehouses De Pauw current dividend yield, its reliability and sustainability?
2.56%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: WDP's dividend (2.6%) is higher than the bottom 25% of dividend payers in the Belgian market (2.5%).
High Dividend: WDP's dividend (2.6%) is low compared to the top 25% of dividend payers in the Belgian market (5.34%).
Stability and Growth of Payments
Stable Dividend: WDP's dividends per share have been stable in the past 10 years.
Growing Dividend: WDP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (44%), WDP's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WDP's dividends in 3 years are forecast to be covered by earnings (81.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
10.6yrs
Average management tenure
CEO
Joost Uwents (51 yo)
10.58yrs
Tenure
€856,250
Compensation
Mr. Joost Uwents has been the Chief Executive Officer of Warehouses De Pauw since 2010 and serves as its MD. Mr. Uwents is responsible for Warehouses' financial policy, marketing and external communication ...
CEO Compensation Analysis
Compensation vs Market: Joost's total compensation ($USD1.01M) is below average for companies of similar size in the Belgian market ($USD2.59M).
Compensation vs Earnings: Joost's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, Co-CEO & Executive Director | 10.58yrs | €856.25k | 0.013% € 663.3k | |
| MD, Co-CEO & Executive Director | 21.25yrs | €735.00k | 3.48% € 175.3m | |
| CFO & Risk Manager | no data | no data | no data | |
| Chief Technical Officer | no data | no data | no data | |
| Investor Relations Officer | no data | no data | no data | |
| General Counsel | no data | no data | no data | |
| General Manager - Netherlands | 2.58yrs | no data | no data |
10.6yrs
Average Tenure
54yo
Average Age
Experienced Management: WDP's management team is seasoned and experienced (10.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, Co-CEO & Executive Director | 10.58yrs | €856.25k | 0.013% € 663.3k | |
| MD, Co-CEO & Executive Director | 21.25yrs | €735.00k | 3.48% € 175.3m | |
| Non-Executive Director | 14.33yrs | €30.00k | 0.0019% € 98.3k | |
| Independent Non-Executive Director | 2.33yrs | €30.00k | no data | |
| Independent Non-Executive Director | 5.5yrs | €30.00k | no data | |
| Independent Chairman of the Board | 1.33yrs | €75.00k | 0.00059% € 29.7k | |
| Independent Non-Executive Director | 5.33yrs | €30.00k | no data |
5.5yrs
Average Tenure
64yo
Average Age
Experienced Board: WDP's board of directors are considered experienced (5.5 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 been diluted in the past year, with total shares outstanding growing by 6.7%.
Top Shareholders
Company Information
Warehouses De Pauw NV's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Warehouses De Pauw NV
- Ticker: WDP
- Exchange: ENXTBR
- Founded:
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: €5.040b
- Shares outstanding: 174.71m
- Website: https://www.wdp.eu
Number of Employees
Location
- Warehouses De Pauw NV
- Blakebergen 15
- Wolvertem
- Flemish Brabant
- 1861
- Belgium
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WPHB | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jun 1999 |
| WDP | ENXTBR (Euronext Brussels) | Yes | Ordinary Shares | BE | EUR | Jun 1999 |
| 0MU2 | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jun 1999 |
| WDPB | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jun 1999 |
| WDPS.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jun 1999 |
Biography
WDP develops and invests in logistics property (warehouses and offices). WDP's property portfolio amounts to around 5 million m². This international portfolio of semi-industrial and logistics buildings is ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/08/14 10:19 |
| End of Day Share Price | 2020/08/13 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.