Warehouses De Pauw
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WDP develops and invests in logistics property (warehouses and offices). The last earnings update was 32 days ago. More info.
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WDP Share Price and Events
7 Day Returns
1 Year Returns
WDP Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Warehouses De Pauw (WDP) | 3.8% | 4.1% | 9.3% | 34.5% | 68.3% | 157.5% |
| BE REITs | 1.2% | 1.6% | 6.2% | 13.1% | 16.2% | 43.7% |
| BE Market | -0.9% | -5.2% | 3.9% | -9.5% | -17.7% | 2.3% |
1 Year Return vs Industry and Market
- WDP outperformed the REITs industry which returned 13.1% over the past year.
- WDP outperformed the Market in Belgium which returned -9.5% over the past year.
Value
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
Warehouses De Pauw
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Warehouses De Pauw.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Funds From Operations | |
| Levered Funds From Operations | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.3% |
| Perpetual Growth Rate | 10-Year BE Government Bond Rate | 0.8% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year BE Govt Bond Rate | 0.8% |
| Equity Risk Premium | S&P Global | 6.8% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.52 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.52 (1 + (1- 29%) (52.86%)) |
0.81 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.81 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.77% + (0.81 * 6.8%) |
6.28% |
Discounted Cash Flow Calculation for ENXTBR:WDP using 2 Stage Free Cash Flow to Equity using Funds From Operations Model
The calculations below outline how an intrinsic value for Warehouses De Pauw 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.
Warehouses De Pauw is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Funds From Operations (FFO) (EUR, Millions) | Source |
Present Value Discounted (@ 6.28%) |
|
|---|---|---|---|
| 2019 | 157.60 | Analyst x1 | 148.29 |
| 2020 | 186.60 | Analyst x1 | 165.21 |
| 2021 | 191.40 | Analyst x2 | 159.46 |
| 2022 | 226.40 | Analyst x1 | 177.48 |
| 2023 | 243.50 | Analyst x1 | 179.61 |
| 2024 | 260.61 | Est @ 7.03% | 180.89 |
| 2025 | 274.04 | Est @ 5.15% | 178.97 |
| 2026 | 284.55 | Est @ 3.84% | 174.86 |
| 2027 | 292.85 | Est @ 2.92% | 169.34 |
| 2028 | 299.51 | Est @ 2.27% | 162.96 |
| Present value of next 10 years cash flows | €1,697.08 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €299.51 × (1 + 0.77%) ÷ (6.28% – 0.77%) |
€5,482.23 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €5,482.23 ÷ (1 + 6.28%)10 |
€2,982.87 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €1,697.08 + €2,982.87 |
€4,679.95 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €4,679.95 / 23.39 |
€200.07 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €200.07 |
| Current discount | Discount to share price of
€141.00
= -1 x (€141.00 - €200.07) / €200.07 |
29.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Warehouses De Pauw's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Warehouses De Pauw'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 Warehouses De Pauw's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Warehouses De Pauw's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in EUR | €14.31 |
| ENXTBR:WDP Share Price ** | ENXTBR (2019-05-24) in EUR | €141 |
| Belgium REITs Industry PE Ratio | Median Figure of 15 Publicly-Listed REITs Companies | 14.29x |
| Belgium Market PE Ratio | Median Figure of 87 Publicly-Listed Companies | 14.54x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Warehouses De Pauw.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTBR:WDP Share Price ÷ EPS (both in EUR) = 141 ÷ 14.31 |
9.85x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Warehouses De Pauw is good value based on earnings compared to the BE REITs industry average.
- Warehouses De Pauw is good value based on earnings compared to the Belgium market.
Price based on expected Growth
Does
Warehouses De Pauw's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 9.85x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
-1.5%per year |
| Belgium REITs Industry PEG Ratio | Median Figure of 6 Publicly-Listed REITs Companies | 0.42x |
| Belgium Market PEG Ratio | Median Figure of 41 Publicly-Listed Companies | 1.88x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 9.85x ÷ -1.5% |
-6.54x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Warehouses De Pauw earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Warehouses De Pauw's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in EUR | €70.23 |
| ENXTBR:WDP Share Price * | ENXTBR (2019-05-24) in EUR | €141 |
| Belgium REITs Industry PB Ratio | Median Figure of 16 Publicly-Listed REITs Companies | 1.27x |
| Belgium Market PB Ratio | Median Figure of 120 Publicly-Listed Companies | 1.53x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTBR:WDP Share Price ÷ Book Value per Share (both in EUR) = 141 ÷ 70.23 |
2.01x |
* Primary Listing of Warehouses De Pauw.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Warehouses De Pauw is overvalued based on assets compared to the BE REITs industry average.
Value checks
We assess Warehouses De Pauw's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Warehouses De Pauw 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
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!
Earnings growth vs Low Risk Savings
- Warehouses De Pauw's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.8%.
Growth vs Market Checks
- Warehouses De Pauw's earnings are expected to decrease over the next 1-3 years, this is below the Belgium market average.
- Warehouses De Pauw's revenue growth is expected to exceed the Belgium market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTBR:WDP Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | -1.5% |
| ENXTBR:WDP Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 10.3% |
| Belgium REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 6.2% |
| Belgium REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
| Belgium Market Earnings Growth Rate | Market Cap Weighted Average | 9.3% |
| Belgium Market Revenue Growth Rate | Market Cap Weighted Average | 3.8% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 317 | 261 | 272 | 2 |
| 2022-12-31 | 293 | 243 | 245 | 2 |
| 2021-12-31 | 264 | 206 | 252 | 5 |
| 2020-12-31 | 237 | 188 | 238 | 5 |
| 2019-12-31 | 207 | 156 | 257 | 5 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 214 | 324 | |
| 2018-12-31 | 203 | 178 | 329 |
| 2018-09-30 | 201 | 245 | |
| 2018-06-30 | 190 | 174 | 192 |
| 2018-03-31 | 183 | 228 | |
| 2017-12-31 | 176 | 129 | 235 |
| 2017-09-30 | 161 | 244 | |
| 2017-06-30 | 162 | 122 | 224 |
| 2017-03-31 | 155 | 170 | |
| 2016-12-31 | 150 | 119 | 130 |
| 2016-09-30 | 148 | 131 | |
| 2016-06-30 | 145 | 130 | 124 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Warehouses De Pauw Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 9.97 | 9.97 | 9.97 | 1.00 |
| 2022-12-31 | 9.56 | 9.56 | 9.56 | 1.00 |
| 2021-12-31 | 14.43 | 18.07 | 10.78 | 2.00 |
| 2020-12-31 | 12.34 | 14.32 | 10.35 | 2.00 |
| 2019-12-31 | 12.68 | 13.13 | 12.22 | 2.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2019-03-31 | 14.31 |
| 2018-12-31 | 14.69 |
| 2018-09-30 | 11.03 |
| 2018-06-30 | 8.73 |
| 2018-03-31 | 10.43 |
| 2017-12-31 | 10.84 |
| 2017-09-30 | 11.53 |
| 2017-06-30 | 10.97 |
| 2017-03-31 | 8.61 |
| 2016-12-31 | 6.86 |
| 2016-09-30 | 7.01 |
| 2016-06-30 | 6.69 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Warehouses De Pauw's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Belgium market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Belgium market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Warehouses De Pauw has a total score of 1/6, 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 Warehouses De Pauw 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
Past Earnings growth analysis
- Warehouses De Pauw has delivered over 20% year on year earnings growth in the past 5 years.
- Warehouses De Pauw's 1-year earnings growth exceeds its 5-year average (42.1% vs 31.6%)
- Warehouses De Pauw's earnings growth has exceeded the BE REITs industry average in the past year (42.1% vs 16.7%).
Earnings and Revenue History
All data from Warehouses De Pauw Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 213.86 | 324.00 | 12.91 | |
| 2018-12-31 | 202.55 | 328.78 | 12.42 | |
| 2018-09-30 | 200.85 | 244.66 | 10.52 | |
| 2018-06-30 | 189.53 | 192.36 | 9.84 | |
| 2018-03-31 | 182.87 | 227.96 | 9.04 | |
| 2017-12-31 | 176.22 | 235.16 | 8.44 | |
| 2017-09-30 | 160.63 | 243.62 | 8.47 | |
| 2017-06-30 | 161.67 | 223.96 | 8.08 | |
| 2017-03-31 | 154.94 | 169.54 | 8.10 | |
| 2016-12-31 | 150.01 | 130.23 | 7.56 | |
| 2016-09-30 | 147.56 | 130.89 | 7.46 | |
| 2016-06-30 | 144.70 | 124.20 | 9.00 | |
| 2016-03-31 | 140.79 | 139.37 | 7.69 | |
| 2015-12-31 | 135.17 | 142.70 | 8.03 | |
| 2015-09-30 | 123.70 | 99.26 | 7.12 | |
| 2015-06-30 | 120.69 | 103.06 | 5.49 | |
| 2015-03-31 | 110.91 | 68.76 | 6.88 | |
| 2014-12-31 | 107.46 | 64.75 | 6.83 | |
| 2014-09-30 | 106.93 | 65.73 | 7.11 | |
| 2014-06-30 | 102.52 | 55.24 | 6.52 | |
| 2014-03-31 | 100.31 | 71.22 | 6.55 | |
| 2013-12-31 | 95.43 | 79.67 | 6.08 | |
| 2013-09-30 | 95.87 | 74.83 | 5.91 | |
| 2013-06-30 | 92.55 | 69.48 | 5.79 | |
| 2013-03-31 | 91.77 | 47.16 | 5.90 | |
| 2012-12-31 | 88.83 | 35.33 | 5.96 | |
| 2012-09-30 | 77.59 | 31.33 | 5.78 | |
| 2012-06-30 | 81.21 | 16.58 | 5.68 |
*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.
- Warehouses De Pauw has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Warehouses De Pauw used its assets more efficiently than the BE REITs industry average last year based on Return on Assets.
- Warehouses De Pauw's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Warehouses De Pauw's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Warehouses De Pauw has a total score of 4/6, 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 Warehouses De Pauw'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 Warehouses De Pauw's finances.
The net worth of a company is the difference between its assets and liabilities.
- Warehouses De Pauw's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Warehouses De Pauw's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0x 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.
All data from Warehouses De Pauw Company Filings, last reported 1 month ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,650.67 | 1,743.49 | 5.24 |
| 2018-12-31 | 1,610.52 | 1,738.92 | 1.72 |
| 2018-09-30 | 1,414.12 | 1,660.59 | 2.30 |
| 2018-06-30 | 1,307.93 | 1,653.08 | 1.32 |
| 2018-03-31 | 1,306.70 | 1,497.89 | 1.90 |
| 2017-12-31 | 1,238.44 | 1,349.82 | 1.23 |
| 2017-09-30 | 1,185.57 | 1,265.32 | 0.58 |
| 2017-06-30 | 1,120.15 | 1,219.38 | 0.55 |
| 2017-03-31 | 1,083.43 | 1,070.74 | 0.64 |
| 2016-12-31 | 1,032.35 | 1,045.94 | 0.34 |
| 2016-09-30 | 798.15 | 1,163.48 | 0.93 |
| 2016-06-30 | 770.32 | 1,225.41 | 0.63 |
| 2016-03-31 | 779.39 | 1,080.29 | 0.13 |
| 2015-12-31 | 768.27 | 1,042.32 | 0.55 |
| 2015-09-30 | 710.70 | 1,042.52 | 0.73 |
| 2015-06-30 | 689.72 | 1,026.49 | 0.82 |
| 2015-03-31 | 676.03 | 883.28 | 1.47 |
| 2014-12-31 | 613.49 | 863.82 | 0.23 |
| 2014-09-30 | 542.82 | 838.26 | 0.39 |
| 2014-06-30 | 518.56 | 803.35 | 2.04 |
| 2014-03-31 | 537.14 | 708.74 | 1.04 |
| 2013-12-31 | 527.08 | 688.38 | 1.58 |
| 2013-09-30 | 489.14 | 705.72 | 0.39 |
| 2013-06-30 | 475.23 | 684.99 | 3.72 |
| 2013-03-31 | 468.65 | 647.21 | 2.17 |
| 2012-12-31 | 450.18 | 659.86 | 1.80 |
| 2012-09-30 | 410.28 | 641.11 | 2.58 |
| 2012-06-30 | 398.25 | 646.24 | 2.18 |
- Warehouses De Pauw's level of debt (105.6%) 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 (132.2% vs 105.6% today).
- Debt is not well covered by operating cash flow (10.2%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 8.9x coverage).
Financial health checks
We assess Warehouses De Pauw's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Warehouses De Pauw has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Warehouses De Pauw'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
If you bought
€2,000 of
Warehouses De Pauw
shares you are expected to receive
€68
in your first year as a dividend.
Dividend Amount
- Warehouses De Pauw's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.44%).
- Warehouses De Pauw's dividend is below the markets top 25% of dividend payers in Belgium (4.86%).
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.
| 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 5 Analyst Estimates (S&P Global) | See Below |
| Belgium REITs Industry Average Dividend Yield | Market Cap Weighted Average of 16 Stocks | 4.3% |
| Belgium Market Average Dividend Yield | Market Cap Weighted Average of 78 Stocks | 3.7% |
| Belgium Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Belgium Bottom 25% Dividend Yield | 25th Percentile | 2.4% |
| Belgium Top 25% Dividend Yield | 75th Percentile | 4.9% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 6.46 | 3.00 |
| 2022-12-31 | 6.16 | 3.00 |
| 2021-12-31 | 5.91 | 5.00 |
| 2020-12-31 | 5.56 | 5.00 |
| 2019-12-31 | 5.13 | 5.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-22 | 4.800 | 3.454 |
| 2019-02-01 | 4.800 | 3.608 |
| 2018-03-23 | 4.500 | 4.014 |
| 2018-02-02 | 4.500 | 4.540 |
| 2017-04-03 | 4.260 | 4.583 |
| 2017-02-03 | 4.260 | 4.911 |
| 2016-03-24 | 4.000 | 4.753 |
| 2016-02-17 | 4.000 | 5.067 |
| 2015-03-30 | 3.400 | 4.741 |
| 2015-02-11 | 3.400 | 4.634 |
| 2014-03-26 | 3.250 | 5.685 |
| 2014-02-12 | 3.250 | 5.995 |
| 2013-05-08 | 3.110 | 6.026 |
| 2012-05-15 | 2.940 | 6.821 |
| 2011-05-20 | 2.940 | 7.748 |
| 2010-03-31 | 2.940 | 8.095 |
| 2010-02-17 | 2.940 | 8.778 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Warehouses De Pauw has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Warehouses De Pauw only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Warehouses De Pauw's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Warehouses De Pauw afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Warehouses De Pauw has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | €683,000 |
| AGE | 49 |
| TENURE AS CEO | 9.3 years |
CEO Bio
Mr. Joost Uwents has been the Chief Executive Officer of Warehouses De Pauw SCA since 2010. and serves as MD & Director of Warehouses De Pauw. Mr. Uwents is responsible for Warehouses' financial policy, marketing and external communication, internal reporting and investors relations. He serves as Compliance Officer of Warehouses De Pauw. He served as Chief Financial Officer of Warehouses Estates Belgium SCA. He served as the Chief Financial Officer at Warehouses De Pauw. He served as Chief Executive Officer of WDP Comm. VA. He has been Non-Executive Independent Director at Xior Student Housing NV since November 23, 2015. He has been an Executive Director of Warehouses De Pauw SCA since April 2002. He served as an Executive Director of Warehouses Estates Belgium SCA. He is a Commercial Engineer and holds an MBA.
CEO Compensation
- Joost's compensation has been consistent with company performance over the past year, both up more than 20%.
- Joost's remuneration is about average for companies of similar size in Belgium.
Management Team Tenure
Average tenure of the Warehouses De Pauw management team in years:
- The average tenure for the Warehouses De Pauw management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Joost Uwents
Co-CEO & Executive Director
€683K
49
9.3 yrs
Tony De Pauw
Co-CEO & Executive Director
€597K
20.3 yrs
Mickaël Van Den Hauwe
CFO & Risk Manager
Joke Cordeels
Investor Relations Officer
Michiel Assink
General Manager - Netherlands
1.3 yrs
Board of Directors Tenure
Average tenure and age of the Warehouses De Pauw board of directors in years:
- The tenure for the Warehouses De Pauw board of directors is about average.
Board of Directors
Rik Vandenberghe
Chairman of the Board
57
0.1 yrs
Joost Uwents
Co-CEO & Executive Director
€683K
49
17.1 yrs
Tony De Pauw
Co-CEO & Executive Director
€597K
20 yrs
Frank L. Meysman
Non-Executive Director
€30K
66
13.1 yrs
Cynthia Van Hulle
Independent Non-Executive Director
€30K
62
4.3 yrs
Anne Leclercq
Independent Non-Executive Director
€30K
4.1 yrs
Jürgen Ingels
Independent Non-Executive Director
€20K
47
1.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Warehouses De Pauw's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Warehouses De Pauw 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
What Type Of Shareholder Owns Warehouses De Pauw's (EBR:WDP)?
View our latest analysis for Warehouses De Pauw ENXTBR:WDP Ownership Summary, May 17th 2019 What Does The Institutional Ownership Tell Us About Warehouses De Pauw? … We can see that Warehouses De Pauw does have institutional investors; and they hold 27% of the stock. … Insider Ownership Of Warehouses De Pauw The definition of company insiders can be subjective, and does vary between jurisdictions.
Simply Wall St - – Full articleI Ran A Stock Scan For Earnings Growth And Warehouses De Pauw (EBR:WDP) Passed With Ease
In contrast to all that, I prefer to spend time on companies like Warehouses De Pauw (EBR:WDP), which has not only revenues, but also profits. … Not all of Warehouses De Pauw's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. … On the one hand, Warehouses De Pauw's EBIT margins fell over the last year, but on the other hand, revenue grew.
Simply Wall St - – Full articleBoasting A 21% Return On Equity, Is Warehouses De Pauw (EBR:WDP) A Top Quality Stock?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Warehouses De Pauw has a return on equity of 21% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWhy Warehouses De Pauw (EBR:WDP) Could Have A Place In Your Portfolio
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Warehouses De Pauw (EBR:WDP) due to its excellent fundamentals in more than one area.
Simply Wall St - – Full articleDoes Warehouses De Pauw's (EBR:WDP) CEO Pay Reflect Performance?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Joost Uwents's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Warehouses De Pauw has a market cap of €3.1b, and is paying total annual CEO compensation of €641k.
Simply Wall St - – Full articleCan You Imagine How Chuffed Warehouses De Pauw's Shareholders Feel About Its 138% Share Price Gain?
For example, the Warehouses De Pauw (EBR:WDP) share price has soared 138% in the last half decade. … During five years of share price growth, Warehouses De Pauw achieved compound earnings per share (EPS) growth of 23% per year. … The EPS growth is more impressive than the yearly share price gain of 19% over the same period.
Simply Wall St - – Full articleWarehouses De Pauw (EBR:WDP): Are Analysts Bull Or Bear?
Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … The latest earnings announcement Warehouses De Pauw (EBR:WDP) released in December 2018a
Simply Wall St - – Full articleShould You Invest In Warehouses De Pauw (EBR:WDP)?
real estate investment trust (REIT) based in Wolvertem, Belgium. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent
Simply Wall St - – Full articleHow Much Money Does Warehouses De Pauw (EBR:WDP) Make?
Today we will examine Warehouses De Pauw’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Warehouses De Pauw’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … I will be analysing Warehouses De Pauw’s FCF by looking at its FCF yield and its operating cash flow growth.
Simply Wall St - – Full articleHow To Look At Warehouses De Pauw (EBR:WDP)
real estate investment trust (REIT) based in Wolvertem, Belgium. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of WDP’s daily operations.
Simply Wall St - – Full articleCompany Info
Description
WDP develops and invests in logistics property (warehouses and offices). WDP's property portfolio amounts to around 4.5 million m². This international portfolio of semi-industrial and logistics buildings is spread over more than 200 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania.
Details
| Name: | Warehouses De Pauw |
| WDP | |
| Exchange: | ENXTBR |
| Founded: | |
| €3,298,175,415 | |
| 23,391,315 | |
| Website: | http://www.wdp.eu |
| Address: |
Warehouses De Pauw Blakebergen 15, Wolvertem, Liège, 1861, Belgium |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTBR | WDP | Ordinary Shares | Euronext Brussels | BE | EUR | 28. Jun 1999 | |
| OTCPK | WDPS.F | Ordinary Shares | Pink Sheets LLC | US | USD | 28. Jun 1999 | |
| DB | WPH | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 28. Jun 1999 | |
| LSE | 0MU2 | Ordinary Shares | London Stock Exchange | GB | EUR | 28. Jun 1999 | |
| BATS-CHIXE | WDPB | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 28. Jun 1999 |
Number of employees
Current staff
Industry
| Industrial REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/26 21:05 |
| End of day share price update: | 2019/05/24 00:00 |
| Last estimates confirmation: | 2019/05/21 |
| Last earnings filing: | 2019/04/24 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
