WDP Stock Analysis: Warehouses de Pauw Comm VA | BR
REIT - Industrial | BR, Belgium | Market Cap: 5.364m EUR | 12M Return: 11% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.34M
EPS Trend: 88.2%
Qual. Beats: 1
Rev. Trend: 98.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Warehouses De Pauw (WDP) is a Belgian industrial REIT that develops and invests in logistics and semi-industrial real estate, including warehouses and offices. The company operates an international portfolio spread across more than 350 sites in Belgium, the Netherlands, France, Luxembourg, Germany, and Romania, with a focus on prime logistics locations for storage and distribution. Founded in 1977, WDP generates revenue primarily through long-term leases with logistics and distribution tenants, a business model typical of the industrial REIT sub-sector, which has benefited from structural tailwinds such as the growth of e-commerce and the modernization of European supply chains.
- Logistics rental income grows on e-commerce demand and indexation
- Higher interest rates weigh on property valuations and debt costs
- Portfolio expansion in Germany and Romania accelerates capital deployment
| Net Income: 381.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.37 > 1.0 |
| NWC/Revenue: -41.28% < 20% (prev -83.38%; Δ 42.10% < -1%) |
| CFO/TA 0.04 > 3% & CFO 384.6m > Net Income 381.2m |
| Net Debt (3.58b) to EBITDA (460.9m): 7.78 < 3 |
| Current Ratio: 0.27 > 1.5 & < 3 |
| Outstanding Shares: last quarter (235.1m) vs 12m ago 4.19% < -2% |
| Gross Margin: 83.35% > 18% (prev 84.47%; Δ -1.13% > 0.5%) |
| Asset Turnover: 5.93% > 50% (prev 5.58%; Δ 0.34% > 0%) |
| Interest Coverage Ratio: 5.58 > 6 (EBIT TTM 450.9m / Interest Expense TTM 80.8m) |
| A: -0.02 (Total Current Assets 82.0m - Total Current Liabilities 298.2m) / Total Assets 9.17b |
| B: 0.01 (Retained Earnings 95.5m / Total Assets 9.17b) |
| C: 0.05 (EBIT TTM 450.9m / Avg Total Assets 8.84b) |
| D: 1.26 (Book Value of Equity 5.11b / Total Liabilities 4.05b) |
| Altman-Z'' = 1.55 = BB |
| DSRI: 1.19 (Receivables 61.9m/47.3m, Revenue 523.7m/475.0m) |
| GMI: 1.01 (GM 84.47% / 83.35%) |
| AQI: 1.00 (AQ_t 0.97 / AQ_t-1 0.97) |
| SGI: 1.10 (Revenue 523.7m / 475.0m) |
| TATA: -0.00 (NI 381.2m - CFO 384.6m) / TA 9.17b) |
| Beneish M = -2.79 (Cap -4..+1) = A |
As of July 11, 2026, the stock is trading at EUR 21.82 with a total of 369,949 shares traded. Over the past week, the price has changed by -2.68%, over one month by +1.49%, over three months by -6.36% and over the past year by +10.97%.
Current recommended Stop Loss: 21.20 (which is 2.8% or 1.6 ATR below the current price).
Warehouses de Pauw Comm VA has no consensus analysts rating.
P/E Trailing = 13.5152
P/E Forward = 13.7363
P/S = 9.8148
P/B = 1.0341
P/EG = 3.5136
Revenue TTM = 523.7m EUR
EBIT TTM = 450.9m EUR
EBITDA TTM = 460.9m EUR
Long Term Debt = 3.24b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 298.2m EUR (from shortTermDebt, last quarter)
Debt = 3.60b EUR (from shortLongTermDebtTotal, last quarter) + Leases 183k
Net Debt = 3.58b EUR (calculated: Debt 3.60b - CCE 20.1m)
Enterprise Value = 8.95b EUR (5.36b + Debt 3.60b - CCE 20.1m)
Interest Coverage Ratio = 5.58 (Ebit TTM 450.9m / Interest Expense TTM 80.8m)
EV/FCF = 24.99x (Enterprise Value 8.95b / FCF TTM 358.0m)
FCF Yield = 4.00% (FCF TTM 358.0m / Enterprise Value 8.95b)
FCF Margin = 68.37% (FCF TTM 358.0m / Revenue TTM 523.7m)
Net Margin = 72.80% (Net Income TTM 381.2m / Revenue TTM 523.7m)
Gross Margin = 83.35% ((Revenue TTM 523.7m - Cost of Revenue TTM 87.2m) / Revenue TTM)
Gross Margin QoQ = 76.63% (prev 72.62%)
Tobins Q-Ratio = 0.98 (Enterprise Value 8.95b / Total Assets 9.17b)
Interest Expense / Debt = 2.24% (Interest Expense 80.8m / Debt 3.60b)
Taxrate = 13.07% (57.3m / 438.6m)
NOPAT = 391.9m (EBIT 450.9m * (1 - 13.07%))
Current Ratio = 0.27 (Total Current Assets 82.0m / Total Current Liabilities 298.2m)
Debt / Equity = 0.70 (Debt 3.60b / totalStockholderEquity, last quarter 5.11b)
Debt / EBITDA = 7.78 (Net Debt 3.58b / EBITDA 460.9m)
Debt / FCF = 10.01 (Net Debt 3.58b / FCF TTM 358.0m)
Total Stockholder Equity = 4.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.31% (Net Income 381.2m / Total Assets 9.17b)
RoE = 7.71% (Net Income TTM 381.2m / Total Stockholder Equity 4.94b)
RoCE = 5.51% (EBIT 450.9m / Capital Employed (Equity 4.94b + L.T.Debt 3.24b))
RoIC = 4.29% (NOPAT 391.9m / Invested Capital 9.15b)
WACC = 4.19% (E(5.36b)/V(8.97b) * Re(5.69%) + D(3.60b)/V(8.97b) * Rd(2.24%) * (1-Tc(0.13)))
Discount Rate = 5.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 4.96%
[DCF] Terminal Value 75.23% ; FCFF base≈360.3m ; Y1≈357.1m ; Y5≈368.6m
[DCF] Fair Price = 9.00 (EV 5.75b - Net Debt 3.58b = Equity 2.17b / Shares 240.5m; r=8.35% [WACC [floored]]; 5y FCF grow -1.54% → 2.50% )
EPS Correlation: 88.18 | EPS CAGR: 21.43% | SUE: 1.53 | # QB: 1
Revenue Correlation: 98.72 | Revenue CAGR: 15.64% | SUE: 0.63 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.42 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.41 | Chg30d=+0.00% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.61 | Chg30d=+0.01% | Revisions=+25% | GrowthEPS=+5.2% | GrowthRev=+9.9%
EPS next Year (2027-12-31): EPS=1.72 | Chg30d=+0.02% | Revisions=+25% | GrowthEPS=+6.9% | GrowthRev=+10.1%
[Analyst] Revisions Ratio: +17% (up=2, down=1)