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Wereldhave

OTCPK:WRDE.F
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WRDE.F
OTCPK
€898M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Wereldhave invests in dominant convenience shopping centres in larger regional cities in northwest continental Europe. The last earnings update was 70 days ago. More info.


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WRDE.F Share Price and Events
7 Day Returns
0%
OTCPK:WRDE.F
1.2%
US REITs
1.6%
US Market
1 Year Returns
-
OTCPK:WRDE.F
15.2%
US REITs
2.6%
US Market
WRDE.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wereldhave (WRDE.F) 0% 0% - - - -
US REITs 1.2% 2.9% 3.3% 15.2% 13.3% 25.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • No trading data on WRDE.F.
  • No trading data on WRDE.F.
Price Volatility
WRDE.F
Industry
5yr Volatility vs Market

WRDE.F Value

 Is Wereldhave undervalued based on future cash flows and its price relative to the stock market?

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 Wereldhave 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Wereldhave.

OTCPK:WRDE.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:WRDE.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 25%) (151.22%))
1.089
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.089 * 5.96%)
9.22%

Discounted Cash Flow Calculation for OTCPK:WRDE.F using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Wereldhave 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.

Wereldhave 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.

OTCPK:WRDE.F DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (EUR, Millions) Source Present Value
Discounted (@ 9.22%)
2019 115.00 Analyst x1 105.29
2020 122.00 Analyst x1 102.27
2021 121.00 Analyst x1 92.86
2022 122.70 Analyst x1 86.22
2023 125.40 Analyst x1 80.67
2024 127.28 Est @ 1.5% 74.97
2025 129.66 Est @ 1.87% 69.92
2026 132.41 Est @ 2.13% 65.38
2027 135.47 Est @ 2.31% 61.24
2028 138.77 Est @ 2.43% 57.43
Present value of next 10 years cash flows €796.23
OTCPK:WRDE.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €138.77 × (1 + 2.73%) ÷ (9.22% – 2.73%)
€2,195.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,195.48 ÷ (1 + 9.22%)10
€908.63
OTCPK:WRDE.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €796.23 + €908.63
€1,704.87
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,704.87 / 40.24
€46.75
OTCPK:WRDE.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $57.60
Current discount Discount to share price of $27.50
= -1 x ($27.50 - $57.60) / $57.60
52.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Wereldhave is available for.
Intrinsic value
>50%
Share price is $27.5 vs Future cash flow value of $57.6
Current Discount Checks
For Wereldhave to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Wereldhave's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Wereldhave's share price is below the future cash flow value, and 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 Wereldhave's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wereldhave's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:WRDE.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.10
ENXTAM:WHA Share Price ** ENXTAM (2019-03-11) in EUR €22.32
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.75x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Wereldhave.

OTCPK:WRDE.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:WHA Share Price ÷ EPS (both in EUR)

= 22.32 ÷ 0.10

220.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wereldhave is overvalued based on earnings compared to the US REITs industry average.
  • Wereldhave is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Wereldhave's expected growth come at a high price?
Raw Data
OTCPK:WRDE.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 220.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
60.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.58x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

OTCPK:WRDE.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 220.59x ÷ 60.7%

3.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wereldhave is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Wereldhave's assets?
Raw Data
OTCPK:WRDE.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €43.35
ENXTAM:WHA Share Price * ENXTAM (2019-03-11) in EUR €22.32
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
OTCPK:WRDE.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:WHA Share Price ÷ Book Value per Share (both in EUR)

= 22.32 ÷ 43.35

0.51x

* Primary Listing of Wereldhave.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wereldhave is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Wereldhave's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Wereldhave 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.

WRDE.F Future Performance

 How is Wereldhave expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

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!
Annual Growth Rate
60.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wereldhave expected to grow at an attractive rate?
  • Wereldhave's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Wereldhave's earnings growth is expected to exceed the United States of America market average.
  • Wereldhave's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:WRDE.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:WRDE.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 60.7%
OTCPK:WRDE.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
Raw Data
OTCPK:WRDE.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:WRDE.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 206 127 89 4
2020-12-31 206 126 51 4
2019-12-31 202 123 35 4
OTCPK:WRDE.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 232 152 4
2018-06-30 258 155 21
2018-03-31 261 147 45
2017-12-31 228 139 49
2017-09-30 266 125 116
2017-06-30 267 111 165
2017-03-31 268 125 133
2016-12-31 268 140 101
2016-09-30 265 160 63
2016-06-30 262 178 26
2016-03-31 253 159 98

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wereldhave's earnings are expected to grow significantly at over 20% yearly.
  • Wereldhave's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:WRDE.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Wereldhave Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:WRDE.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.94 3.41 0.55 3.00
2020-12-31 2.45 3.55 1.10 3.00
2019-12-31 1.75 4.15 0.41 3.00
OTCPK:WRDE.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.10
2018-06-30 0.53
2018-03-31 1.11
2017-12-31 1.21
2017-09-30 2.90
2017-06-30 4.13
2017-03-31 3.31
2016-12-31 2.50
2016-09-30 1.57
2016-06-30 0.64
2016-03-31 2.50

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Wereldhave is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Wereldhave's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Wereldhave has a total score of 3/6, 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.

WRDE.F Past Performance

  How has Wereldhave 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
Below we compare Wereldhave's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Wereldhave's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Wereldhave's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Wereldhave's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Wereldhave's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Wereldhave Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:WRDE.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 232.02 4.07 16.95
2018-06-30 257.98 21.33 17.00
2018-03-31 261.16 44.51 16.65
2017-12-31 227.62 48.79 15.91
2017-09-30 265.86 116.47 16.96
2017-06-30 267.38 165.25 17.63
2017-03-31 267.73 132.93 17.63
2016-12-31 268.08 100.62 17.63
2016-09-30 265.15 63.36 17.38
2016-06-30 262.22 26.11 17.13
2016-03-31 253.09 97.88 16.18
2015-12-31 244.57 104.14 16.26
2015-06-30 195.64 95.37 14.71
2015-03-31 173.01 12.18 14.58
2014-12-31 147.92 19.80 13.54
2014-09-30 148.74 64.09 14.59
2014-06-30 130.61 73.75 13.35
2014-03-31 129.53 84.34 13.51
2013-12-31 130.31 69.62 13.55
2013-09-30 107.78 33.40 13.56
2013-06-30 141.42 25.77 15.75
2013-03-31 119.55 30.09 15.30
2012-12-31 143.18 53.25 16.74
2012-09-30 128.27 72.62 15.08
2012-06-30 125.78 80.15 13.62

*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.
  • Wereldhave has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Wereldhave used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Wereldhave has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Wereldhave's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Wereldhave has a total score of 1/6, 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.

WRDE.F Health

 How is Wereldhave'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 Wereldhave's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wereldhave's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Wereldhave's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Wereldhave's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x 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.
Raw Data

All data from Wereldhave Company Filings, last reported 4 months ago.

OTCPK:WRDE.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,975.84 1,358.32 125.93
2018-06-30 2,075.02 1,662.14 12.53
2018-03-31 2,075.02 1,662.14 12.53
2017-12-31 2,117.03 1,595.97 13.59
2017-09-30 2,117.03 1,595.97 13.59
2017-06-30 2,172.04 1,495.29 15.29
2017-03-31 2,172.04 1,495.29 15.29
2016-12-31 2,161.21 1,593.21 40.67
2016-09-30 2,161.21 1,593.21 40.67
2016-06-30 2,119.82 1,519.23 18.64
2016-03-31 2,119.82 1,519.23 18.64
2015-12-31 2,187.82 1,509.89 37.71
2015-06-30 2,223.44 1,457.83 360.50
2015-03-31 2,000.62 1,372.52 112.33
2014-12-31 1,975.96 1,250.95 119.21
2014-09-30 1,445.53 1,035.65 254.88
2014-06-30 1,428.75 946.77 122.34
2014-03-31 1,499.75 680.67 88.47
2013-12-31 1,499.75 680.67 88.47
2013-09-30
2013-06-30 1,439.05 694.88 119.21
2013-03-31 1,439.05 694.88 119.21
2012-12-31 1,525.75 1,288.78 44.41
2012-09-30 1,526.58 1,445.68 58.57
2012-06-30 1,516.83 1,439.14 22.70
  • Wereldhave's level of debt (68.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (45.4% vs 68.7% today).
  • Debt is not well covered by operating cash flow (11.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Wereldhave's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Wereldhave has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

WRDE.F Dividends

 What is Wereldhave'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
Dividend payments
11.29%
Current annual income from Wereldhave dividends. Estimated to be 11.09% next year.
If you bought $2,000 of Wereldhave shares you are expected to receive $226 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Wereldhave's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Wereldhave's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
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.
Raw Data
OTCPK:WRDE.F Annualized Past and Future Dividends
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 7 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:WRDE.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.44 8.00
2020-12-31 2.46 8.00
2019-12-31 2.52 9.00
OTCPK:WRDE.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-13 2.520 10.540
2019-02-08 2.520 9.923
2018-07-24 2.520 8.504
2018-02-02 3.080 9.595
2017-07-25 3.080 7.696
2017-03-06 3.080 7.234
2017-02-03 3.080 7.390
2016-07-21 3.080 7.312
2016-04-12 3.020 6.855
2016-02-04 3.020 6.376
2015-10-22 3.010 5.813
2015-07-24 3.000 5.700
2015-04-24 2.870 5.349
2015-02-05 2.870 4.563
2014-03-17 3.300 5.201
2014-02-06 3.300 5.454
2013-02-18 3.300 6.059
2012-08-02 4.700 10.234
2012-03-22 4.700 9.127
2012-02-13 4.700 8.143
2011-05-10 4.700 8.177
2010-04-30 4.650 6.834

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wereldhave has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Wereldhave has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Wereldhave's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (49.6x coverage).
X
Income/ dividend checks
We assess Wereldhave's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Wereldhave afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wereldhave 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.

WRDE.F Management

 What is the CEO of Wereldhave's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Herman van Everdingen
COMPENSATION €0
AGE 63
TENURE AS CEO 0.1 years
CEO Bio

Mr. Herman J. Van Everdingen is Chief Executive Officer of Wereldhave N.V. since April 1, 2019. Mr. Van Everdingen has been Interim Chief Executive Officer at Wereldhave Belgium since February 2019. Mr. Van Everdingen served as Chief Executive Officer Ad Interim at Wereldhave N.V. since February 1, 2019 until April 1, 2019. Mr. Van Everdingen served as Member of the Management Board at Wereldhave N.V. and served its Member of the Supervisory Board since April 2011 until 2019. Mr. Van Everdingen serves as a Director of Catalyst Advisor, a Director at Berlage Winkelfonds Duitsland and a Member of the Supervisory Board at Karel Doorman Foundation.

CEO Compensation
  • Insufficient data for Herman to compare compensation growth.
  • Herman's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Wereldhave management team in years:

2.8
Average Tenure
50
Average Age
  • The tenure for the Wereldhave management team is about average.
Management Team

Herman van Everdingen

TITLE
Chief Executive Officer
AGE
63
TENURE
0.1 yrs

Dennis de Vreede

TITLE
CFO & Member of the Management Board
COMPENSATION
€519K
AGE
48
TENURE
1.1 yrs

Belinde Bakker

TITLE
Chief Operating Officer and Managing Director of Wereldhave Netherlands
AGE
50
TENURE
3.1 yrs

Olivier Mourrain

TITLE
Managing Director of France

Pieter Polman

TITLE
Managing Director for Netherlands
TENURE
2.5 yrs

Jeroen Piket

TITLE
Group Treasurer
AGE
53
TENURE
4.7 yrs

Kasper Deforche

TITLE
MD & CEO of Belgium
AGE
37
TENURE
2.8 yrs

Richard Belt

TITLE
Interim Shopping Centre Director
TENURE
4.3 yrs
Board of Directors Tenure

Average tenure and age of the Wereldhave board of directors in years:

2.2
Average Tenure
57.5
Average Age
  • The average tenure for the Wereldhave board of directors is less than 3 years, this suggests a new board.
Board of Directors

Adriaan Nühn

TITLE
Chairman of the Supervisory Board
AGE
65
TENURE
2.1 yrs

Leen Geirnaerdt

TITLE
Vice Chairman of Supervisory Board
AGE
44
TENURE
2.3 yrs

Gert Van de Weerdhof

TITLE
Member of Supervisory Board
AGE
52
TENURE
3.1 yrs

Hein Brand

TITLE
Member of Supervisory Board
AGE
63
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Wereldhave's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Wereldhave 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.

WRDE.F News

Simply Wall St News

WRDE.F Company Info

Description

Wereldhave invests in dominant convenience shopping centres in larger regional cities in northwest continental Europe. The area surrounding our centres will include at least 100,000 inhabitants within 10 minutes’ travel time from the centre. We focus on shopping centres that strike a balance between convenience and shopping experience. With easy accessibility, products that cover all the daily shopping needs, a successful mix of international and local retail products and strong food anchor stores, our centres provide convenience shopping to accommodate a busy urban lifestyle as well as an ageing population. We aim for an experience that goes beyond shopping, with restaurants, kids’ playgrounds and high quality amenities in order to attract families - and keep them with us for longer visits.

Details
Name: Wereldhave N.V.
WRDE.F
Exchange: OTCPK
Founded: 1930
€1,002,817,490
40,242,994
Website: http://www.wereldhave.com
Address: Wereldhave N.V.
WTC Schiphol, Tower A,
3rd Floor,
Schiphol,
Noord-Holland, 1118 BH,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM WHA Ordinary Shares Euronext Amsterdam NL EUR 02. Jan 1992
OTCPK WRDE.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB WER Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NMR Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE WHAA Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
164
Wereldhave employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 06:02
End of day share price update: 2019/03/11 00:00
Last estimates confirmation: 2019/05/02
Last earnings filing: 2019/03/13
Last earnings reported: 2018/12/31
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.