Warehouses De Pauw Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: WPHB (€18.96) is trading below our estimate of fair value (€24.24)

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


Key Valuation Metric

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

Key metric: As WPHB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WPHB. This is calculated by dividing WPHB's market cap by their current earnings.
What is WPHB's PE Ratio?
PE Ratio15.1x
Earnings€279.89m
Market Cap€4.24b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for WPHB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.6x
FIBRAPL 14 FIBRA Prologis
4.2x-63.6%Mex$91.1b
ME8U Mapletree Industrial Trust
52.3x21.2%S$6.3b
BBOX Tritax Big Box REIT
20.7x27.0%UK£3.2b
3283 Nippon Prologis REIT
25.2x2.1%JP¥626.0b
WPHB Warehouses De Pauw
15.1x13.5%€4.2b

Price-To-Earnings vs Peers: WPHB is good value based on its Price-To-Earnings Ratio (15.1x) compared to the peer average (25.6x).


Price to Earnings Ratio vs Industry

How does WPHB's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
WPHB 15.1xIndustry Avg. 17.6xNo. of Companies9PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WPHB is good value based on its Price-To-Earnings Ratio (15.1x) compared to the Global Industrial REITs industry average (17.6x).


Price to Earnings Ratio vs Fair Ratio

What is WPHB'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.

WPHB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate WPHB's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

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

The above table shows the analyst WPHB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.96
€26.99
+42.4%
14.4%€33.00€21.00n/a14
Dec ’25€20.64
€27.69
+34.2%
12.2%€33.00€21.00n/a14
Nov ’25€21.52
€27.69
+28.7%
12.2%€33.00€21.00n/a14
Oct ’25€24.24
€27.91
+15.1%
11.6%€33.00€21.00n/a14
Sep ’25€23.82
€28.31
+18.8%
11.3%€33.00€22.00n/a14
Aug ’25€24.90
€28.45
+14.3%
11.4%€33.00€22.00n/a14
Jul ’25€25.10
€28.69
+14.3%
12.1%€34.00€22.00n/a14
Jun ’25€26.58
€28.64
+7.8%
12.0%€34.00€22.00n/a14
May ’25€24.96
€28.49
+14.2%
12.1%€34.00€22.00n/a13
Apr ’25€26.24
€28.38
+8.1%
12.8%€34.00€22.00n/a13
Mar ’25€24.80
€28.22
+13.8%
13.3%€34.00€21.00n/a13
Feb ’25€26.10
€28.22
+8.1%
13.3%€34.00€21.00n/a13
Jan ’25€28.50
€27.23
-4.5%
14.6%€34.00€20.00n/a13
Dec ’24€25.86
€26.54
+2.6%
13.4%€33.00€20.00€20.6412
Nov ’24€23.34
€27.65
+18.5%
12.3%€34.00€21.00€21.5213
Oct ’24€23.26
€28.04
+20.5%
14.1%€37.00€21.00€24.2413
Sep ’24€25.58
€28.58
+11.7%
12.2%€37.00€24.00€23.8213
Aug ’24€26.04
€28.92
+11.1%
12.2%€37.00€24.00€24.9013
Jul ’24€24.82
€28.80
+16.0%
15.4%€37.00€23.00€25.1010
Jun ’24€25.98
€28.70
+10.5%
15.4%€37.00€23.00€26.5810
May ’24€26.88
€28.70
+6.8%
15.4%€37.00€23.00€24.9610
Apr ’24€27.00
€28.75
+6.5%
17.8%€38.00€21.50€26.2410
Mar ’24€27.68
€28.55
+3.1%
18.4%€38.00€21.50€24.8010
Feb ’24€28.38
€27.25
-4.0%
19.7%€38.00€21.50€26.1010
Jan ’24€27.04
€27.95
+3.4%
25.4%€44.00€21.50€28.5010
Dec ’23€25.64
€29.23
+14.0%
25.9%€44.00€21.50€25.8611

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 00:27
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Warehouses De Pauw SA is covered by 25 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Niko LevikariABN AMRO Bank N.V.
Paul MayBarclays
Paul MayBarclays